First Direct PPI reclaim - do I have a case?

alisaver

Hi everyone,
I've looked and looked through the forums and can't find anything that answers my specific question so I hope it's ok to start a new thread...

I first took out a loan with First Direct (part of HSBC) in 2003 for £12000, this had a PPI attached to it for £2455 (£3088 would be the total payable for the PPI). Over the years I re-arranged my loan (in 2005 and 2007) so that I still had the same loan but more added...if that makes sense. But for those two re-arranged loans I didn't take PPI so I guess my claim would only relate to the original loan in 2003.

I have ALL the paperwork, the signed agreements and all the T&Cs etc and it does clearly state that I had taken PPI and what that would cover. My problem is that I have ulcerative colitis, I had been diagnosed with it in 1998, five years before I took the loan, so I had an existing medical condition that would mean I wouldn't be covered for unemployment or sick leave cause by my illness.

I do NOT remember the conversation I had when I took out the loan (it being nearly 10 years ago) and I don't know if I disclosed this information or not, or if I did if I was misled into believing I would still be covered.

Either way, the T&Cs do state it in black and white. Is it worth me making a claim?

Thanks so much for any advice you can give me, I am prepared to do the work to make the claim if I know it is worth doing!

Thank you,

Ali

[Deleted User]

alisaver wrote: »

I first took out a loan with First Direct (part of HSBC) in 2003 for £12000, this had a PPI attached to it for £2455 (£3088 would be the total payable for the PPI). Over the years I re-arranged my loan (in 2005 and 2007) so that I still had the same loan but more added...if that makes sense. But for those two re-arranged loans I didn't take PPI so I guess my claim would only relate to the original loan in 2003.

A pre-existing medical condition is a reason for complaint, if it meant you couldn't have claimed on the policy.
Do note that you'll only be able to complain for the PPI on the first loan and you will have received a rebate for this on consolidation in 2005. The further loans are without PPI and so a mis-selling complaint does not apply.

Go here and follow the simple steps:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Be as honest as possible and enclose photocopies of all relevant paperwork with your completed Ombudsman Questionnaire. Remember to send it via recorded delivery.

J_i_m

I think you potentially have a good reason for complaint and well done you for keeping all the paperwork because that helps a little.

I think clearly you were sold a policy unsuitable for your needs, but did you know that at the time, i.e did you know that your pre-existing condition would invalidate any claim it may have caused you to make? And did they?

You could state mis-sale on grounds of un-suitability for your needs and poor advice from the salesperson. But you do need to be sure.

I was sold PPI by First Direct on my loan despite having decent sickness & reduncy provisions with my employer the NHS. I didn't realise that because of that that my ppi policy was effectively worthless, yet First Direct made no effort to advise me that I would be unlikely to claim on the PPI.

My complaint is still ongoing, it was rejected by First Direct and has been with the FOS for nearly 2 years now, the adjudicator sided with my position but First Direct disagree and it's waiting for a final ombudsman.

[Deleted User]

J_i_m wrote: »

My complaint is still ongoing, it was rejected by First Direct and has been with the FOS for nearly 2 years now, the adjudicator sided with my position but First Direct disagree and it's waiting for a final ombudsman.

This must be so frustrating for you, Jim.:mad:
I'm finding myself impatient for my redress payment and it's only been two weeks since my uphold letter!

Ignite

Don't forget to include that the PPI on the loan was Front Loaded. That is one reason in itself for it to be upheld (most of the time). Therefore at least you can list 2 reasons so if one is not upheld then the other might be.

J_i_m

Moneyineptitude wrote: »

This must be so frustrating for you, Jim.:mad:
I'm finding myself impatient for my redress payment and it's only been two weeks since my uphold letter!

Hell yeah! It's quite irritating that complaints after the JR are being resolved relatively quickly, yet the people who complained before are stuck in a hideous queue for an FOS ombudsman. But it is what it is.

alisaver

Thanks so much for theses replies everyone! SO helpful! I feel it will be worth a go now

Ignite wrote: »

Don't forget to include that the PPI on the loan was Front Loaded. That is one reason in itself for it to be upheld (most of the time). Therefore at least you can list 2 reasons so if one is not upheld then the other might be.

Thanks for this - what does front-loaded mean? Sorry, bit new to this PPI reclaiming business!:o

Thanks!
Ali

alisaver

J_i_m wrote: »

I think clearly you were sold a policy unsuitable for your needs, but did you know that at the time, i.e did you know that your pre-existing condition would invalidate any claim it may have caused you to make? And did they?

You could state mis-sale on grounds of un-suitability for your needs and poor advice from the salesperson. But you do need to be sure.

I was sold PPI by First Direct on my loan despite having decent sickness & reduncy provisions with my employer the NHS. I didn't realise that because of that that my ppi policy was effectively worthless, yet First Direct made no effort to advise me that I would be unlikely to claim on the PPI.

My complaint is still ongoing, it was rejected by First Direct and has been with the FOS for nearly 2 years now, the adjudicator sided with my position but First Direct disagree and it's waiting for a final ombudsman.

Thanks for this! I can't remember at all the conversation I had with the salesperson, however I am sure that I would not have taken PPI in a zillion years had I known it would be worthless. Sounds like you are being incredibly patient, hope you win your case v.soon!

alisaver

Just bumping this...can anyone tell me what front-loaded means?