PPI for dummies...

kingbuxton

PPI completely go's over my head.

I have never had a loan or a credit card, I have had a mortgage for the last 4 years though.

Should I look to make a claim, is there a reputable company out there that will handle it for me?

Thank you all!

dunstonh

Should I look to make a claim

have you suffered a claimable event? e.g. unemployment or sickness?

Or do you mean whether you should make a complaint or not? If so, what would your reasons for complaint be?

Do you even have MPPI?

is there a reputable company out there that will handle it for me?

no

pandas123

Hello

My husband took out a credit card with HSBC in 1999 and was paying PPI on this until we recently closed the account in January this year. The bank claim they dont keep a credit agreement this long anymore only 6 years. Is this the end of our claim then? I have already complained to the financial ombudsman as they are out of the 8 week deadline for response, in fact we have had very little response. The total PPI from 2005 is close to £4k + interest. I will have another look for the credit agreement but without it can we carry on with our claim?

Any help / experience gratefully received.
Thanks, Pandas 123

societys_child

What's the reason for your complaint?

dunstonh

What was the reason for your complaint?
Did you even pay PPI?

kingbuxton

I am unsure if have PPI at all, thats the point. I was of the understanding (correct me) that these PPI claims were people claiming back money from PPI that has been sold without the knowledge of the customer.

[Deleted User]

kingbuxton wrote: »

I was of the understanding (correct me) that these PPI claims were people claiming back money from PPI that has been sold without the knowledge of the customer.

It's very rare that anyone would get a complaint of that nature upheld since it couldn't be proven. Most who make such a complaint have usually simply forgotten that they signed for it (or didn't read what they were signing).

If you've had a mortgage for the last four years then you can guarantee that there will have been full documentation of your "demands and needs", so there is no way PPI can have been added without your express permission.

I recommend you read around the site (away from the forum) to acquaint yourself with the fundamentals of a valid mis-selling complaint (which it doesn't sound like you have).

pandas123

I am complaining for my husband and he did pay out PPI between 2005 - 2013. He does not remember signing any documentation about this back in 1999 and feels he has been mis sold as at the time he was a single bloke, living at home with a good full time job that would have paid out for many circumstances such as sickness or redundancy - had his needs been checked at the time then he should not have been sold. That is if he was sold it, i understand pre 2007 it was a tick box on the credit agreement you had to untick. Anyone got any constructive comments or suggestions on the way forward, not interested in negativity, thanks all the same.

pandas123

I am a newbie to this forum after all and there is a "nice" alert above! Thanks. x

dunstonh

kingbuxton wrote: »

I am unsure if have PPI at all, thats the point. I was of the understanding (correct me) that these PPI claims were people claiming back money from PPI that has been sold without the knowledge of the customer.

mortgage PPI is nearly always monthly premium direct debit. If you dont know you are paying it then you need to control your finances better.

dunstonh

he has been mis sold as at the time he was a single bloke, living at home with a good full time job that would have paid out for many circumstances such as sickness or redundanc

You give a pretty good example of someone who has a financial need for it.

i understand pre 2007 it was a tick box on the credit agreement you had to untick.

And how do you propose you untick a paper application?