Cardiff Pinnacle ppi payout

hotmama

I am so chuffed having decided to claim the ppi attached to my alliance and Leicester mortgage I succeeded!
I had heard and read that reclaiming ppi from Cardiff PInnacle (the company the ppi was with) was very difficult as A&L- now Santander were not paying out.

I didn't think I had a chance as I knew about the mppi and had completed official documents. It was also set up as a monthly d.d which apparently means it was set up correctly, however it was missold as I already had adequate sickness cover which would have covered my mortgage payments.

The process was very smooth and they offered to payout within 10 days of the first letter.
They have paid out and I am trying to claim back the last 2months payments.

My advice is to claim, claim, claim!
Christmas is back on the agenda! :T :rotfl::beer::j:D

katiecustardface

I would like to add a similar situation and would advise anyone to reclaim if they already had adequate cover through their employer.
I have reclaimed all other ppi on loans using this site and am eternally grateful. But when i was considering reclaiming missold mortgage ppi 2 years ago, i took advice from reading this forum and read enough to discourage me from claiming misselling on my mortgage ppi (cardiff pinnacle/ alliance and leicester) from Dunstoh and the likes (not in anyway a criticism, possibly my misunderstanding of other people's questions who were in the same circumstance). I was lead to believe that mortgage ppi, paid on a monthly direct debit was an acceptable and sensible thing to be advised to take out.
However, in desperation, a week ago, a sent a claim in as i work for the NHS and have decent sickness etc cover already. They have offered nearly £5k, no questions asked, to be received in the next fortnight.
I would encourage anyone in the same circumstances to do the same. Go get em!!!!

EmmaBella10

Background = my mis-sold PPI claim has been with the FOS for 2.5 years. They had to find out if there was a link between Cardif Pinnacle and Dial-4-A-Loan for my First National/GE Loan, which was taken out in 2003 and paid off in full in 2004. Completely mis-sold as Dial-4-A-Loan didn’t explain about the Policy and put a X through a Joint Policy when I was a Housewife and Mother and obviously not even in work.
In May 2012 FOS said a link had been found and Cardif were paying out, claim is worth around £5K. I didn’t hear anything so telephoned Cardif in November 2012, I was told they had already agreed I'd been mis-sold in April 2012 but now had to get up-to-date figures from GE so they could come up with an accurate figure. Since November 2012 I've been telephoning, emailing but Cardif just keep using excuse after excuse. For about 9 weeks they told me they were waiting for figures from GE, now they are saying GE have sent inaccurate figures!! My husband's hours were cut last year and we are struggling but it doesn’t matter what you say to Cardif they just keep coming up with new excuses. Is there anybody out there in the same position? :mad: :mad: :mad:

Zobo13

Could anyone tell me how long they had to wait for the refund? I was told 5 - 10 working days???

dunstonh

Zobo13 wrote: »

Could anyone tell me how long they had to wait for the refund? I was told 5 - 10 working days???

Can be between 3-90 days typically. Usually at the lower end but 10 days is common.

KIMY

l too have a claim with FOS for over 3 years with regards Cardiff Pinnacle l was missold PPI through a company called First National which was actually broker of GE Money, l have pursued Cardiff Pinnacle as PPI was front loaded and over £10k and loan taken out in 2003 and paid off in 2004 and was told loan not approved unless PPI taken.
Cardiff Pinnacle are stating mine is time barred but l have received various letters from them with incorrect information and FOS are stating they will pursue this. I am getting disheartened now as there seems to be no moving forward. The FOS told me that they just need Cardiff Pinnacle to pay out on one claim and this will set a presidence but reading on this great forum they have ,so not a clue as to why l am not getting any response from FOS

-taff

The FOS have no jurisdiction over this case because it was sold to you pre-regulation.
They are hoping to use your case to set a precedent, but the chances are you are never going to get your PPI back. Forget about it until a resolution has happened.

On the bright side, you won't have paid that much PPI because it looks like you paid the loan off early.

dunstonh

The FOS told me that they just need Cardiff Pinnacle to pay out on one claim and this will set a presidence but reading on this great forum they have ,so not a clue as to why l am not getting any response from FOS

The FOS have no remit. So, they are just hoping someone gets lucky. However, Pinnacle paying out on one does not mean it will apply to others. That is just wishful thinking

KIMY

I actually paid front loaded PPI on secured loan of £10,200 and when l settled in 2004 only received £2003 refund.
You state not regulated but reading previous posts they have been awarded

-taff

You asked the question and were answered. The answer is not to your liking so you continue to hold false hope. That's your preogative.

dunstonh

KIMY wrote: »

I actually paid front loaded PPI on secured loan of £10,200 and when l settled in 2004 only received £2003 refund.
You state not regulated but reading previous posts they have been awarded

Pinnacle used multiple distribution channels. It would depend on the ones used.