reclaiming ppi

jblue

hi - i'm new to this (forum's) and i've tried to make sense of all the advice on the forums but can't seem to find out how you know if you've paid ppi if you don't have any paper work, which forms/letters do you use - i know i'm paying ppi on a secured loan that i was told that if i didn't take out the ppi then i couldn't have the loan and i would be able to reclaim it back after 5 years and i have the paperwork for this but not the credit cards and loans i've had in the past - i feel in the wilderness of information and not sure what applies to me

amersall

With the secured loan, who is the company and what year did you take this out?.

Regarding the others, if you know who the loans and cards were with then ring the banks and ask if they can find you, give them as much info as you can to help them, if this does not work then send a Sar to each bank ( only send 1 to each bank even if you have 3 accounts at that bank) and ask for all info they hold on you, again, give as much info as you can, previous address, dob etc.
Enclose £10 per bank and give them 40 days to respond.
https://forums.moneysavingexpert.com/discussion/1475553

You could also get your credit file and if any are on there you can use the 4 digits to make the claim for mis sell.

jblue

thanks - the secured loan is with first plus and i remember sending the forms back with the ppi box unticked and we got a call back saying that the loan would not be approved if we didn't tick the ppi box and not to worry as we could claim the ppi back after 5 years

amersall

jblue wrote: »

thanks - the secured loan is with first plus and i remember sending the forms back with the ppi box unticked and we got a call back saying that the loan would not be approved if we didn't tick the ppi box and not to worry as we could claim the ppi back after 5 years

You need to send this to FP.

We/I believe we were mis sold the ppi on the above account number,and would like recordings,if any to the contrary of my/our reasons for mis sell set out below.

1)We/I were not told that the ppi was in effect another loan that was added to the original loan and was repayable over the loan term with interest.

2) We/I were told that the ppi was a 5 year policy, but not told the ppi would still be on the loan to term end with interest.

3) We/I were told that if we did not make a claim,or go into arrears on the ppi ,after 5 years we would receive the cashback of ppi but were not told this would not include the interest made on these payments that we paid over the 5 years.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been needed, if the original loan had been sold without the PPI policy.

In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Barclays pays them back to us. We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included on the above loan.