PPI - Feel worried and can't remember!

Iloveprettythings

Hiya

Just over 4 weeks ago I received one of those CL letters from Barclays saying I had a loan with them in 2006 for quite a large amount of money and did they want me to investigate misselling of PPI in this loan.

Instead of filling in the paperwork I rang up(the calls are recorded anyway) and the lady asked me loads of questions. I said I don't remember much about the loan just that it was done over the telephone and I did not even know I had PPI on the loan so therefore I would have not known it was optional as knew nothing about it.

Anyway yesterday I get another phone call from the PPI investigation team at Barclays asking me the same questions 4 weeks later! Also asked me whether I was working and had sickness cover. I was in full time permanent employment and I had the normal sickness cover but no savings...which is the truth.

I feel however that they were trying to trick me and find out if I am lying and it has rather annoyed me as I told them all this 4 weeks ago.

I asked the lady how much longer it will take and she said usually 8 weeks form your complaint but now we have this information it should be a couple of weeks.

Have I said something wrong? I was thinking last night that I remember we had life cover with Norwich Union should I ring them up and mention this as I did not at the time.

I am wondering now because I said I had no savings they may decline my complaint but my husband had savings and we were married then so I suppose they were partly mine. I am worried now if I ring and tell them this they may think I am being dishonest!

I am just so annoyed that I cannot remember much about the loan, I have such a bad memory anyway but its just so annoying as how can you prove you were missold.!

Thanks

Iloveprettythings

and I have just been thinking I was actually made redundant in Nov 2004 and had redundancy money plus I started a new job in Nov 2004 with an excellent redundancy package of a month's salary for every year worked. I know this as I was eventually made redundant from this job in 2010. Should I ring them and tell them this???
The loan was taken out in 2006!

-taff

If the decline your ocmplaint, you can always go tot he Ombudsman with it, or ask them to re-investigate based on your new information.

dunstonh

Anyway yesterday I get another phone call from the PPI investigation team at Barclays asking me the same questions 4 weeks later! Also asked me whether I was working and had sickness cover. I was in full time permanent employment and I had the normal sickness cover but no savings...which is the truth.

I feel however that they were trying to trick me and find out if I am lying and it has rather annoyed me as I told them all this 4 weeks ago.

They are not trying to trick you. They are trying to find out whether you had a financial need for the policy. Someone with no savings and in full time employment is eligible and has a need.

I was thinking last night that I remember we had life cover with Norwich Union should I ring them up and mention this as I did not at the time.

Life assurance has no overlap with PPI. So, no.

Wait until the outcome. You may find they identify a failure at there end that you are not aware of.

Iloveprettythings

dunstonh wrote: »

They are not trying to trick you. They are trying to find out whether you had a financial need for the policy. Someone with no savings and in full time employment is eligible and has a need.




Life assurance has no overlap with PPI. So, no.

Wait until the outcome. You may find they identify a failure at there end that you are not aware of.

Thanks for that...but then again I was not told I was taking PPI out on the policy so surely it does not matter whether I was in employment with no savings surely I should have been told about taking PPi??

dunstonh

Iloveprettythings wrote: »

Thanks for that...but then again I was not told I was taking PPI out on the policy so surely it does not matter whether I was in employment with no savings surely I should have been told about taking PPi??

Problem is that your allegation is unprovable. Most unprovable allegations fail on that point and in those cases they revert back to whether their own sales process is suitable and whether you had a financial need for the policy or not.

Iloveprettythings

dunstonh wrote: »

Problem is that your allegation is unprovable. Most unprovable allegations fail on that point and in those cases they revert back to whether their own sales process is suitable and whether you had a financial need for the policy or not.

Ok so really its best if I contact them on Monday and advise them of the redundancy money? I am just worried I will come across like I am lying as I did not remember it before but its only because I have been thinking back to that time and remember some things now!

I suppose they may not believe that though!

On and also I had the same with HSBC. They asked me the same and I told then I could not remember being told I had ppi on the policy and I told them I was employed with no savings and they offered me just under 9k!

dunstonh

On and also I had the same with HSBC. They asked me the same and I told then I could not remember being told I had ppi on the policy and I told them I was employed with no savings and they offered me just under 9k!

Different product, different sales process, different levels of documentation. You can never use one success to predict another.

Ok so really its best if I contact them on Monday and advise them of the redundancy money? I am just worried I will come across like I am lying as I did not remember it before but its only because I have been thinking back to that time and remember some things now!

I would do nothing and wait and see.

Iloveprettythings

dunstonh wrote: »

They are not trying to trick you. They are trying to find out whether you had a financial need for the policy. Someone with no savings and in full time employment is eligible and has a need.


Regarding your above point I was just looking at the Money Advice Service website and the state on there that you would not need PPI for the following reason: I have copied and pasted below!

YYou probably don't need payment protection insurance in these situations:

If you could get by on your sick pay. You have an employee benefits package which gives you an income for six months or more, so you can keep up your payments.


Now when the lady rang me she asked whether I had savings in which I said no (but now realise I had some redundancy money from late 2004) and also was I employed and how much sick pay do I get. I advised that I get the sick pay amount as mentioned in the Money Service website so therefore surely I have reasonable grounds that I was missold PPI.

I am worried that if I don't call them back and tell them about the redundancy money (plus I had an excellent redundancy package in the job I was in when I took out the loan) that it may go against me and then I would have to go to the Ombudsman which could take years!!!

dunstonh

Regarding your above point I was just looking at the Money Advice Service website and the state on there that you would not need PPI for the following reason: I have copied and pasted below!

YYou probably don't need payment protection insurance in these situations:

If you could get by on your sick pay. You have an employee benefits package which gives you an income for six months or more, so you can keep up your payments.

That is broadly correct for loan and credit card PPI. However, the FOS have been rejecting complaints on mortgage PPI even where it is 6 months full pay, 6 months half pay. Also, advised cases (which are also typically mortgage ones) where an analysis usually exists, typically encourage people to have 6-12 months emergency funds and without those, insurance can be justified. As most MPPI complaints fail but most loan and credit card PPI complaints succeed, the point by the MAS is broadly correct in that context.

I am worried that if I don't call them back and tell them about the redundancy money (plus I had an excellent redundancy package in the job I was in when I took out the loan) that it may go against me and then I would have to go to the Ombudsman which could take years!!!

Dont mention redundancy packages. They are irrelevant. The payment is discretionary and only paid if the company is in a financial position to do so. So, it was never a guaranteed payment. It doesnt change anything.

Iloveprettythings

dunstonh wrote: »

That is broadly correct for loan and credit card PPI. However, the FOS have been rejecting complaints on mortgage PPI even where it is 6 months full pay, 6 months half pay. Also, advised cases (which are also typically mortgage ones) where an analysis usually exists, typically encourage people to have 6-12 months emergency funds and without those, insurance can be justified. As most MPPI complaints fail but most loan and credit card PPI complaints succeed, the point by the MAS is broadly correct in that context.


Dont mention redundancy packages. They are irrelevant. The payment is discretionary and only paid if the company is in a financial position to do so. So, it was never a guaranteed payment. It doesnt change anything.

Ok thank you for your replies I will just put it to bed now and await the outcome

I do feel it was missold but I suppose thats for them to decided

Thanks