Hidden PPI charge

Mark2spark

Hi, I've waded through several threads, but can't find an answer, I was wondering if one of the regulars on this section might have spotted an answer to my question.
The question is; has anyone come across a PPI situation, where the charge, monthly or otherwise, DOES NOT show up in the monthly statements?
Typically I mean credit cards with this enquiry, but it would also apply to (annual) loan statements as well I presume.

I just don't get the claim from these PPI claimback companies who insist that I would have had PPI and not known about it.
Surely it would have shown up in the monthly statements? I'm not so daft that I wouldn't have spotted such a charge. It surely would have been listed next to the regular monthly interest charge?

Thanks in anticipation.
Mark.

magpiecottage

On a credit card PPI will appear on your statements each month.

For other loans, it will either be a loan for a single premium policy or a monthly direct debit - typically to someone other than the lender

Mark2spark

As I thought, thanks Magpie

Mark2spark

Has *anyone* ever come across a situation where PPI has been charged to a credit card, and it *did not* show on the monthly statements?
Thanks.

[Deleted User]

Mark2spark wrote: »

Has *anyone* ever come across a situation where PPI has been charged to a credit card, and it *did not* show on the monthly statements?

No, it will only show when it is charged. Anyone who cleared the balance on a given month will not have PPI shown on that particular statement.
Nil balance= nil PPI.

Otherwise, no it is not possible for PPI on credit cards to be "hidden". Claims Companies foster this myth to entice new custom from people who believe them.

For loans, it is possible that a single premium payment combining both loan repayment and PPI would effectively "hide" the PPI. However, it will still have been signed for at the agreement stage and will show on the loan documentation.

KennethC

Moneyineptitude wrote: »

No, it will only show when it is charged. Anyone who cleared the balance on a given month will not have PPI shown on that particular statement.
Nil balance= nil PPI.

Otherwise, no it is not possible for PPI on credit cards to be "hidden". Claims Companies foster this myth to entice new custom from people who believe them.

Thanks for that I am inundated by telephone calls telling me that I may have a claim, but I have never taken it out and I have just about always paid off my card each month with the odd and I mean very odd occasion when it has gone into the next month with just the minimum amount paid off the previous month, then fully cleared.

[Deleted User]

KennethC wrote: »

Thanks for that I am inundated by telephone calls telling me that I may have a claim

Many people get these calls, but they are random and not linked to any finance you may (or may not) have had. Some claim companies cold call and mention Bank names and a loan amount hoping that the call recipient will believe them.

Regardless, even if you did have PPI and a valid mis-selling complaint, would you really be prepared to sacrifice up to 40% of any redress awarded instead of simply writing direct to the Bank?

dunstonh

Has *anyone* ever come across a situation where PPI has been charged to a credit card, and it *did not* show on the monthly statements?

Think logically.... How would the balance of the card increase if there was no transaction showing to increase it? Card providers do it different ways. Some will show it in the transaction list with all the other retailer transactions. Others will not show it in that list but in the summary section showing the total transaction amount, interest payable and then PPI payable. It is not hidden and cannot logically be hidden.

roonaldo

Mark2spark wrote: »

Has *anyone* ever come across a situation where PPI has been charged to a credit card, and it *did not* show on the monthly statements?
Thanks.

Only in situations where it doesnt exist. Like others have said its always on the statements.

Mark2spark

Thanks all. In order to put this to bed once and for all, I have allowed a guy (recommended by a friend who has used him) to begin an investigation into whether PPI has ever been paid by me unknowingly. He is doing it on a strict no fee up front or on going fee basis. ONLY if he gets any sort of award will there be a fee to pay (25% of the award).
And then I will have secure evidence to tell all these other phone pests with some certainty that they can go forth and multiply
Thanks again.

safestored4

You have been given a definitive answer to your question by the people who know what they are talking about. I hope that you have been circumspect about giving details of your bank and credit card accounts to this friend of a friend.