Complex PPI - Would I be best using a handler?

meehog

I had a loan with Egg quite a few years back, (around 2003 I think) and I remember being told that either PPI was mandatory, or that there was a much better chance of the loan being approved if PPI was taken, and so I agreed to it in order to get the loan. This loan was eventually settled early and I got a refund pro-rata on the unused PPI. I then applied to Egg a year or so later for another loan, and was declined even though I had a healthy credit rating, and they said they had no record of me being a previous customer, then quite abruptly ended the call. I thought no more of it until recently when I decided I might like to claim back my PPI from them. Unfortunately, I have no paperwork or details for this loan, and don't think a credit report would register it now either? I understand Barclaycard are now responsible for Egg's dealings, but without any info, and Egg's claim of no records, would I be just chasing a lost cause? Would a handler be able to get any information that I couldn't, older credit reports or something? I know I was conned by Egg, but if there's no point going after this one, I won't bother.

Also, I have 2 long running credit cards, both with MBNA, both with current balances on them, both with PPI being charged monthly. One of the cards was originally taken out with Abbey National (before Santander's takeover), and was later taken over by MBNA. I honestly can't remember what I was told about PPI at the time, but after Egg (my first real credit) told me that PPI was mandatory (or at least helpful to credit approval), I guess I figured that was the norm. I'm pretty sure if I'd been told it wasn't necessary and was irrelevant to a successful application, I wouldn't have taken the insurance. Would MBNA be responsible for both accounts, even though one was originally taken with Abbey National, or would that one now be the responsibility of Santander? If these were mis-sold to me, they'd be worth quite a bit of money I think.

Due to the complexity of my claims, and especially the lack of info for the Egg loan, would I maybe be better off using a handler to do the legwork?

Thanks very much for any help, taking this on is quite a daunting prospect!

[Deleted User]

meehog wrote: »

Would a handler be able to get any information that I couldn't, older credit reports or something?

No, you'd have to do the work yourself and the CMC would take a hefty chunk of any redress you win.
You can send a Subject Access Request (SAR) which should provide any loan and credit card details a lender has on file for you for at least the past six years (or sometimes more). It costs £10 per lender (a whole lot less than you stand to lose if you use a CMC). There is an excellent template here.
https://forums.moneysavingexpert.com/discussion/1475553

Check out these links for better complaint reasons than you have given;
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance


If any reasons apply, follow the simple steps (not daunting at all) and complain for free.;)

Frase2912

No, don't use a company, they are rip off merchants. I wrote to MBNA, I had a Virgin credit card with them in around 2003. I had no paperwork just my old card number to go on. But within just a few weeks I had received a letter from them saying they were investigating my complaint and this week, only about 5 weeks since I sent my first letter, I have received a cheque from them for £432. I am very happy.
All its cost me was £1.22 for sending the letter recorded delivery. I used a template letter from MSE and that is it, it really can be as simple as that. I didn't really believe that it would happen but it has. So good luck.

magpiecottage

meehog wrote: »

I remember being told that either PPI was mandatory, or that there was a much better chance of the loan being approved if PPI was taken, and so I agreed to it in order to get the loan.

That is unlikely to help you - all of the cases I see where there never was PPI seem to have it in (especially if they come from CMCs). In the end, it is an unproveable assertion.

This loan was eventually settled early and I got a refund pro-rata on the unused PPI.

You only normally get a pro rata refund if the policy was a single premium one and the premium was added to the loan. Complaints on that point are likely to be upheld.

Also, I have 2 long running credit cards, both with MBNA, both with current balances on them, both with PPI being charged monthly. One of the cards was originally taken out with Abbey National (before Santander's takeover), and was later taken over by MBNA. I honestly can't remember what I was told about PPI at the time, but after Egg (my first real credit) told me that PPI was mandatory (or at least helpful to credit approval), I guess I figured that was the norm. I'm pretty sure if I'd been told it wasn't necessary and was irrelevant to a successful application, I wouldn't have taken the insurance.

I think the credit card PPI is likely to be defensible. Most credit cards do not involve advice and you cannot blame Abbey National or MBNA for your reliance on what somebody else may have told you.

meehog

Moneyineptitude wrote: »

No, you'd have to do the work yourself and the CMC would take a hefty chunk of any redress you win.
You can send a Subject Access Request (SAR) which should provide any loan and credit card details a lender has on file for you for at least the past six years (or sometimes more). It costs £10 per lender (a whole lot less than you stand to lose if you use a CMC).

So I'd need to send this SAR to Barclaycard in respect of the Egg loan? With it being at least 8 or 9 years ago, is it pretty pointless, and just a waste of £10? If I send the SAR and they tell me they no longer have details on file, is it pretty much game over? That'd be a shame, because I know they conned me on this one.

Frase2912 wrote: »

I wrote to MBNA, I had a Virgin credit card with them in around 2003. I had no paperwork just my old card number to go on. But within just a few weeks I had received a letter from them saying they were investigating my complaint and this week, only about 5 weeks since I sent my first letter, I have received a cheque from them for £432. I am very happy.

What were your grounds for complaint, out of interest?

magpiecottage wrote: »

I think the credit card PPI is likely to be defensible. Most credit cards do not involve advice and you cannot blame Abbey National or MBNA for your reliance on what somebody else may have told you.

So are credit card companies not required to have explained about the PPI, and checked whether it was suitable? I receive full sick pay from my employer, so if they'd asked me that, should they not have told me that I may not need the cover? Also, when the Abbey National card was taken over by MBNA, should they not have asked me whether I wanted or needed PPI? I think I'm going to try and claim it anyway, Frase's experience above seemed to meet little resistance, so got to be worth a shot.

Thanks for all your help.

[Deleted User]

meehog wrote: »

so got to be worth a shot.

Well, at least we convinced you not to use a CMC.:)

magpiecottage

meehog wrote: »

So are credit card companies not required to have explained about the PPI, and checked whether it was suitable?

Not if they do not advise you.

I receive full sick pay from my employer, so if they'd asked me that, should they not have told me that I may not need the cover?

not if they did not advise you, no.

They were required to provide you with information that was clear, fair and not misleading but it was your responsibility to read it before making a decision. If you simply did not bother to do so then that is your fault not theirs.

Also, when the Abbey National card was taken over by MBNA, should they not have asked me whether I wanted or needed PPI?

No - they simply continued to offer the same product which you had already accepted.

meehog

Well, being the disorganised swine that I am, I did nothing about this since my last post, until tonight when I made an inadvertent step towards claiming back my PPI.

I phoned MBNA to ask how my minimum payments were calculated because it was unclear from my statement, and when she explained to me how it was calculated, I asked about the PPI that was listed on my statement, and was this included in my minimum payment or added on to my balance, I was always under the impression it was included in the monthly payment. She asked me if I knew I was paying it, so I played dumb and said not really, blah blah blah, and she was quite open in asking me if I wanted her to refer my account to their PPI team. I asked her why she was encouraging me to put in a claim against MBNA, and acted pretty dumb in general, but she said it was all no problem, no fees or charges, they do it so people don't have to put it through the handlers etc, so I went ahead and told her to refer it, what have I got to lose, and she said I'd receive acknowledgements from them etc in due course.

I always thought they'd be more resistant to claims, but she was really helpful about it.

I've just got to thinking now, it seems suspicious that she was so helpul about it! Did I make a bad move maybe by doing it this way? I can't see it's any different really from me sending a letter to them asking them to investigate is it? If nothing else, at least it's set the wheels in motion.

meehog

Well, I got a result today . Received a letter today from Mbna, saying that they were upholding one of my credit card claims, and they'll be letting me know what they owe me within the next 12 weeks. Not a single form filled in or a letter written, and I'm getting a payout already, easy money, just 9 days from complaint to decision, I just hope they don't drag their feet with payment.

Weird thing is though, I made 2 credit card claims at the same time, received my acknowledgement letters for both of them at the same time, yet I only received one letter today. Convinced myself now that they're not going to pay out on the one I have no letter for, because they're taking longer with it, and that's the one that's worth more. I'm getting greedy now!

edit: After thinking about it, the one I didn't get the letter from was originally a credit card with Abbey in 2001 until Mbna took the account over a few years later, I wonder if that's anything to do with it, they're maybe trying to get copies of agreements from Abbey or something?

I'm still in shock that Mbna paid out without even asking me why I thought I was mis-sold the PPI. Just hoping they automatically pay out on the other account too.