Help needed please

quantumleap007

guys/gals

Im in the process of putting claims against MBNA & HSBC for misselling of PPI.
I really could do with your help with in filling in the final part of the form.
I would be greatly interested in your successful reasons for misselling.
We could really do with the money that this claim would generate.
At the time I was in full time employment, no illnesses,had full medical cover through the company i worked forand would have redundacy money if it occured.

Your help would be greatley appreciated.

amersall

You need to use reasons appropriate to your circumstances, mis sells are upheld for a variety of reasons, medical cover is good, so is life insurance if you had it, or if you had other means to pay this back, also how it was sold to you can be a reason.
With a loan, if the PPI was put on at the start of the loan and you paid this back in the loan monthly payment, this is Single Premium PPI and the most upheld of all PPI reclaims, this was in fact a loan on the loan that you paid back to term end with interest.

[Deleted User]

quantumleap007 wrote: »

I would be greatly interested in your successful reasons for misselling.

Successful reasons are the most truthful. So be honest and don't try to manufacture reasons.
Front-loading of PPI is the most upheld reason, as Amersall said, but check it definitely was before complaining.

quantumleap007

guys

thank you for your replies. They have provided food for thought.


Much appreciated

sharonfrancis

How do you find out if a PPI has been front loaded?

amersall

On the loan agreement it should say

Loan £xxxx
Insurance loan (note the word loan!) £xxxx

Interest on loan £xxx
Interest on Insurance loan £xxx
Payable over xx months
Monthly payment £xxxxx

It is where the PPI is paid in with the loan amount each month and paid back over the term with interest, it could show different to the example I have given but it is the way you pay it back that is important, if you pay the PPI each month as a payment on it's own then this is not front loaded.