Spill the beans on... what’s put you off making a DIY PPI complaint.

eve_1979

What is putting me off is that I would need to check with the orginal companies from quite a while back eg topshop store card in 1999, and i have no statements or anything from back then and I assume it would take a while to contact topshop to ask for credit agreement if they still have it on file.

However i do have another query if anyone can help? I took out a bank loan nearly 3 years ago and was advised to take out the life insurance on it at £6.99 per month and now thinking about I probably wouldn't qualifiy under it BUT they did sit down and go through it with me but I felt that if i didn't agree to it then I wouldn't get the loan. Is this something that i should be able to claim back?? Thanks,

[Deleted User]

eve_1979 wrote: »

I took out a bank loan nearly 3 years ago and was advised to take out the life insurance on it at £6.99 per month and now thinking about I probably wouldn't qualifiy under it

Clearly life insurance is not PPI and it's difficult to see how you wouldn't "qualify" to claim on it. Do you live alone with no dependents? Are you immortal?;)
You can complain, if you want to, about any financial product; but you'd need robust mis-selling reasons to stand any chance of success.

dunstonh

and was advised to take out the life insurance on it at £6.99 per month

Thats good. Firstly it was advised. That confirms it is optional and also under an advised process and not a sales process. Secondly monthly premium is how it should be. So, it was set up correctly.

now thinking about I probably wouldn't qualifiy under it

Why? Are you immortal?

BUT they did sit down and go through it with me but I felt that if i didn't agree to it then I wouldn't get the loan.

What evidence do you have to support that allegation?

Is this something that i should be able to claim back?

it isnt PPI. And whilst any product can be mis-sold, it does seem strange that you think you are not suitable for life assurance. Typically, for life assurance complaints to succeed, you would need to be single, living alone and have no dependents.

harw1n

The length of time elapsed since I took out the PPI is putting me off, it was nearly 15 years ago and apparently most banks will not supply statements from that long ago. Oh and the fact I have no details of the account numbers etc. which have since been closed for a number of years.

girlwiththesuninherhead

I've attempted to do it myself twice. I have a list of all possibilities through a credit reference agency. I have started to go down the list and had to stop through lack of time only to be put off restarting because it's all taking so long.

I am seriously considering contacting a company to do it for me.

[Deleted User]

girlwiththesuninherhead wrote: »

I am seriously considering contacting a company to do it for me.

...and pay 25% of any redress (+VAT!)?????

dunstonh

I am seriously considering contacting a company to do it for me.

All they do is put a stamp on a template letter or get you to fill out the same form that you can send yourself to the firm.

DebbieDD

I took out a loan in 2006 and was told I would need PPI. However when I have researched SPPL, the company I took the loan with, I found it is no longer in business.
I have sent 2 requests to the FSA for advice but had no response.
I really dont know what to do next.

Anyone have any advice?

Sarros

DebbieDD wrote: »

I took out a loan in 2006 and was told I would need PPI. However when I have researched SPPL, the company I took the loan with, I found it is no longer in business.
I have sent 2 requests to the FSA for advice but had no response.
I really dont know what to do next.

Anyone have any advice?

Hi We have a mortgage with SPML and that is managed by a group called Acenden. I am not sure if they also manage the SPPL but it may be worth a quick phone call their contact details are

Acenden LTD
PO Box 1075
High Wycombe
HP11 2WX

Customer Services 0845 6013679

If you have no joy there then maybe contact the FSCS as they maybe be able to advise as the company no longer exists. Although I think you will need to check if you were sold the loan and PPI by a broker or direct with SPPL as if it was a broker then you would need to direct your complaint to them as they sold you the product. Hope this is correct but I am sure if I am wrong I will be corrected.

Good Luck!

onesixfive

I've made one straightforward successful claim, and been paid over £1,000 from a bank loan. I did all the work on this one myself.

But I (reluctantly - was intimidated, &) had to withdraw another PPI claim against Paymentcare Limited.
I'd made a PPI claim for about £800, & taken it via the small claims court (as I'd let the 6 month limit from the ombudsman unknowingly pass). I understood that the only cost I would bear would be the cost of me taking this to the small claims court i.e. the £60 - but they lodged a counter claim - I then, didnt want a summary judgement, & couldn't afford risking losing this, and having to pay them costs etc. I would have been saddled with this potentially costing me over £200 if I lost.
I took online legal advice on this matter which cost me £30. It would appear to have been poor advice.

I wish I'd let somebody "in the know" handle this case for me - it would have been worth a percentage - although I guess they wouldnt have touched it with a bargepole!!