Financial Ombudsman

Polska71

Hi

I'm new to this, so please bear with me. Has anyone followed Martin's tips / advice for reclaiming PPI's on credit cards / loans etc.. But then had to go to the FSO, & then been told by them, it is highly unlikely the claim will be successful?!!

I'm really confused, FSO advised about my mortgage PPI's, that Halifax were unlikely to uphold my claim, as my claim was similar to other unsuccessful claims, despite the fact I may have been mis sold PPI's!


I am now considering a PPI claims company...?


Have read various posts with great interest, & wondered if anyone else has experienced a similar situation?



Any advice would be gratefully received.

misschicken

What was your reason for the mis-sale?

dunstonh

I'm really confused, FSO advised about my mortgage PPI's, that Halifax were unlikely to uphold my claim, as my claim was similar to other unsuccessful claims, despite the fact I may have been mis sold PPI's!

Most MPPI complaints are rejected. It is the one PPI that is generally regarded as worth having. Plus, the audit trail for the sale is typically greater than other types of PPI.

I am now considering a PPI claims company...?

Wont make any difference. Indeed, you cant now as it is too late. All a claims company does it put a stamp on envelope for your complaint. You have already complained. So, they add nothing to it.

Have read various posts with great interest, & wondered if anyone else has experienced a similar situation?

You would know from those posts that statistically you are likely to fail with MPPI. However, you havent told us why you think you were mis-sold and what evidence you have to support your reasons. What are they?

-taff

Polska71 wrote: »

Hi

I'm new to this, so please bear with me. Has anyone followed Martin's tips / advice for reclaiming PPI's on credit cards / loans etc.. But then had to go to the FSO, & then been told by them, it is highly unlikely the claim will be successful?!!

I am now considering a PPI claims company...?
.

You are not reclaiming, you are making a complaint of misselling. It doesn't follow that were missold though, and in your case, you weren't.

Once you've made a complaint, you can't then make the same complaint, so even if you did employ a complany, they can't make the same complaint again, or rather, they can make it, but you weill receive the same result.

You complained about mortgage PPI, not loan or credit card PPI. A quick search of this forum or the FOS results pages would have shown you were statistically unlikely to succeeed.

magpiecottage

-taff wrote: »

Once you've made a complaint, you can't then make the same complaint, so even if you did employ a complany, they can't make the same complaint again, or rather, they can make it, but you weill receive the same result.

You would only get the same result if it was rejected. Otherwise you would get the same result less the substantial fee charged by the CMC.

However, the reality is that few Mortgage PPI complaints are upheld because of the need for cover (your home could be lost if you do not keep up repayments).

This is particularly the case if the lender has sold the cover itself as they invariably do it on a monthly premium basis, eliminating the one reason that is likely to result in a Mortgage PPI complaint being upheld.

funny.money

Hello,

My saga re PPI and the Ombudsman, briefly as possible, put in claim against Nationwide for PPI paid for 10 years - top reason, my husband was self-employed. Claim upheld by an adjudicator letter from him to Nationwide - repay, plus interest, plus £250. Decision then reneged upon by another adjudicator so went to Ombudsman for final decision - claim rejected. Because my husband was self-employed I was angry and now I wish that, even though I was capable of doing it all myself, I had let a claims company handle it and take their cut - just a feeling we might have had more success. Also although I understood claims were overwhelming, our case took three and half years to decision. Once the Ombudsman's decision has been made that is final, until then you can only go with your instinct on whether to go it alone.
I made my disappointment clear to the FSO at the time, and yet I was never informed of something that I found out myself recently, that if you are dissatisfied with the Ombudsman's service, there are further steps you can take to make a complaint about it (although the decision can never be changed).

Hope this helps a bit.

-taff

funny.money wrote: »

I was capable of doing it all myself, I had let a claims company handle it and take their cut - just a feeling we might have had more success

Your feelings are wrong. You were statistically less likely to succeed with a claims company than without.

dunstonh

top reason, my husband was self-employed.

That can be an issue with many loan and credit card PPI but is less of an issue with mortgage PPI. Indeed, its not an issue with most MPPI.

Because my husband was self-employed I was angry

Perhaps you should be complaining to your husband about that. However, it doesnt affect the insurer.

had let a claims company handle it and take their cut - just a feeling we might have had more success.

Nope. Claims companies actually tend to have a lower success rate as their template letters tend to be one-size-fits-all and can include reasons which are easily shown to be false or made up. That results in that person lacking credibility and in areas where there is little or no proof and a balance of probability decision needs to be made, then the most credible side wins. Your feelings are wrong as you dont understand what a claims company does.

I made my disappointment clear to the FSO at the time, and yet I was never informed of something that I found out myself recently, that if you are dissatisfied with the Ombudsman's service, there are further steps you can take to make a complaint about it (although the decision can never be changed).

You may be disappointed that you are not getting a compensation payment but if there has been no wrong doing and your reasons for complaint were not valid then you should be happy that the product and/or advice you received was right.

Only a compensation chaser could be unhappy about being given the right thing.

funny.money

I have nothing to complain to my husband about thank you! His business was a great success - why you had to make such a comment I've no idea.

Yes I am unhappy our claim was not upheld and if I want I also have every right to be unhappy about the way it was handled - to be written to and told yes, we have written to Nationwide etc etc only to have another adjudicator renege upon this decision - and I can't be unhappy! Also three and a half years I think was an excessive amount of time.

funny.money

And from your last sentence you seem to infer I am a compensation chaser - you are an unpleasant person.

dunstonh

I have nothing to complain to my husband about thank you! His business was a great success - why you had to make such a comment I've no idea.

You said: "Because my husband was self-employed I was angry"

Yes I am unhappy our claim was not upheld and if I want I also have every right to be unhappy about the way it was handled - to be written to and told yes, we have written to Nationwide etc etc only to have another adjudicator renege upon this decision - and I can't be unhappy! Also three and a half years I think was an excessive amount of time.

Yes. You should have been declined straight away. Nationwide did just that. The adjudicator was wrong to change that. The industry has been calling for better qualified and trained adjudicators. The one you had must have been bad as all it took was to ask Nationwide the terms for self employed and if they were covered with no onerous exceptions (which can exist on loan and credit card PPI but rare on mortgage PPI) it should have been rejected.

Your first post indicated you were unhappy with the decision. Your second clarifies that it is not the decision but the timescale and the fact an adjudicator made a mistake.

And from your last sentence you seem to infer I am a compensation chaser - you are an unpleasant person.

I did not call you that. I gave a scenario where only a compensation chaser would be unhappy. If that scenario fits you then I suppose I did call you it and if that is the case, then it makes you an unpleasant person as no-one likes compensation chasers.