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PPI FAQs discussion thread
Comments
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The car dealership as a different owner now so think i have little change. I contacted one of the claim back firms and they said they could help if i had an agreement number or new the finance company but no such luck :-(
They would tell you that they can help even if you didnt have PPI. Their are on commissions to get people to sign up.
If the dealer represented the car brand and the finance was named with that car brand then you complain to the finance company.
If this was an independent car dealer then its game over as its pre-regulation (so no access to FOS or FSCS) and the car dealer has gone.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
My parents recently got a letter regarding life insurance with Lloyds. They had forgotten about this insurance, but they were forced to take it out as part of a loan approximately 6 years ago. Does this count as mis-selling, and can I follow the normal steps regarding PPI in this matter?0
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My parents recently got a letter regarding life insurance with Lloyds. They had forgotten about this insurance, but they were forced to take it out as part of a loan approximately 6 years ago. Does this count as mis-selling, and can I follow the normal steps regarding PPI in this matter?
You havent said what the letter was about.
Taking out life assurance to cover a loan is very common. A married couple would likely have a financial need for debts to be cleared if one of them dies. So, generically, there appears to be nothing wrong with that.
Life assurance is not PPI. So putting in a PPI complaint about life assurance is not logical. It would be like complaining about car insurance using PPI reasons.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
You havent said what the letter was about.
Taking out life assurance to cover a loan is very common. A married couple would likely have a financial need for debts to be cleared if one of them dies. So, generically, there appears to be nothing wrong with that.
Life assurance is not PPI. So putting in a PPI complaint about life assurance is not logical. It would be like complaining about car insurance using PPI reasons.
Sorry, I should have specified that the letter itself wasn't particularly important, it was just what reminded them about the insurance, and reminded me about it.
I thought it might be similar to PPI as they had been forced to take it out to take out a loan, so miss-selling in a way, but if this is a common occurrence then it's probably not something that can be reclaimed in any way.0 -
Sorry, I should have specified that the letter itself wasn't particularly important, it was just what reminded them about the insurance, and reminded me about it.
I thought it might be similar to PPI as they had been forced to take it out to take out a loan, so miss-selling in a way, but if this is a common occurrence then it's probably not something that can be reclaimed in any way.
A life assurance sale would be different to a PPI sale. Life assurance would have a factfind, needs analysis and report. Any complaint would about it being forced would be destined to fail on that particular point as I suspect your parents have no evidence to back up their allegation. Whilst a PPI complaint may go on to find other failings (often due to lack of documentation), a life assurance sale with the needs analysis, factfind etc should easily support the sale. If they were single then a complaint would have merit. A married couple should be an easy rejection for the bank covering a debt.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Complicated one but here goes....
Friend has asked me to look at his PPI on a natwest loan
During the loan he was diagnosed with bowel cancer & subsequently operated on. He telephoned the Insurance co to tell them he had cancer diagnosis & had to take involuntary redundancy but they did not pay off the loan (which according to the terms of the loan they should have) but simply made a one off payment of £153.48 for involuntary redundancy.
As he was so poorly he continued paying the loan until it was paid off then rang to complain that he had to pay off the rest of loan with savings as he was off work for over 6 months. They have assumed he is complaining about the PPI being missold & refered him back to his pay out when in fact he was complaining about not being paid out when he had cancer.
Where does he go from here?
Kind Regards0 -
LLOYDS TSB PPI CLAIM
We (my husband and I) have been with Lloyds/TSB for over 30 years and have had a mortgage, 5 loans and a credit card with them. Earlier this year we received a letter asking us to sign a form to confirm that we had been missold PPI. We both signed it and sent it off. Sorry to say that we didn't take a copy before we sent it. However, we hadn't heard anything from them so I telephoned. I spoke to their customer services rep to took down my details and confirmed that we had had the mortgage, loans and card and ask me to confirm that we thought that we had been missold PPI. Did that and have now received a letter saying that the claim against the mortgage had been rejected as we moved to Halifax 19 years ago, and a further 4 envelopes with forms to complete for the loans/credit card. I, like most people, did not keep the paperwork with the details on so am not able to complete the forms. Is this a delaying tactic they have only given me 14 days which ends on 4th September. I have just returned from 2 weeks holiday so I feel that I am not able to complete these forms in time. As they have the details on their IT systems, why do I have to do the digging?0 -
Because you are th eone making the complaint.
If you don't have any details you'll have to send a SAR and £10 to find out the loan account numbers.Non me fac calcitrare tuum culi0 -
. Earlier this year we received a letter asking us to sign a form to confirm that we had been missold PPI.
The letter sent was an invitation to complain if you feel you were mis-sold.Did that and have now received a letter saying that the claim against the mortgage had been rejected as we moved to Halifax 19 years ago, and a further 4 envelopes with forms to complete for the loans/credit card.
Not unexpected. One of the reasons why most MPPI complaints fail is that the product is normally a monthly premium standalone plan and not built into the mortgage. That is how PPI should be set up. However, this was 19 years ago and documentation is likely to be light or non-existent.Is this a delaying tactic they have only given me 14 days which ends on 4th September. I have just returned from 2 weeks holiday so I feel that I am not able to complete these forms in time. As they have the details on their IT systems, why do I have to do the digging?
It is not a delaying tactic. It is them saying they dont have details on one that old but they are asking for more info on the rest. The 4th Sept date is not binding on you. Its just an attempt to get you to complete the forms quickly.
If you dont believe they hold details of the insurance that was cancelled 19 years ago then you can pay £10 and do a DSAR. However, their response seems reasonable given its MPPI and the requirements of the data protection act and the regulations in force at the time.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Senior moment... what's SAR and where do I get it from?0
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