Advice on multiple ppi

JonEades

I've looked in to my finance history and identified:
7 Lloyd's TSB loans with ppi on
2 credit cards with ppi
Mortgage protection insurance

I'm looking to claim mis selling based on the products being inappropriate, in some cases unknown, in some cases instructed, but in the main my argument is:

From 1998-2006 I got 9 months full sick pay, had life insurance and would have received a significant redundancy package and death in service of 2.5 times salary via pension
From 2006 the same but for full sick pay this has increased to 2 years, death in service from pension of 3.5 times salary

Loans- no discussion on suitability of ppi as I was already effectively covered
Credit cards - didn't know, want or ask for ppi
Mppi - pretty much instructed and no discussion on benefits above.

All bar 1 of the things above were done face to face and not online, 1 loan done online after in bank advice.


What are people's thoughts?

Insider101

You need to be more specific about each one. Each case it's looked at on its own individual set of circumstances (unless the loans were a consolidated chain).

As regards the redundancy benefits as well I'd be surprised if there was anything in your contract to that effect. Most people only have an absolute entitlement to statutory pay which is not a great deal.

JonEades

Thanks, I can post further info later. For redundancy, the company agreed policy is, if in the event of redundancy, pay you your notice period, plus statutory redundancy, plus 1 weeks full pay for each year worked as a lump sum at point of redundancy notification, with the ability to leave immediately - notice period was between 6 and 9 months over the period, with salary going from 25k to >60k.

dunstonh

From 1998-2006 I got 9 months full sick pay, had life insurance and would have received a significant redundancy package and death in service of 2.5 times salary via pension

Could work with loan and credit card but not MPPI.

Mppi - pretty much instructed and no discussion on benefits above.

Your benefits dont invalidate MPPI. FOS has rejected complaints where there has been 6 months full pay, 6 months half pay on MPPI. Tends to be stronger for a reason on loan and credit card PPI.

Redundancy packages rarely impact on the decision as they are conditional and not guaranteed.

JonEades

So the stronger argument form mppi was the effective instruction to have it and lack of discussion on needing it rather than mitigating benefits?

Insider101

JonEades wrote: »

So the stronger argument form mppi was the effective instruction to have it and lack of discussion on needing it rather than mitigating benefits?

In the absence of any positive evidence on what was or wasn't discussed they will probably look at whether you had a financial need for it. It is quite difficult to persuade them not with MPPI.

dunstonh

JonEades wrote: »

So the stronger argument form mppi was the effective instruction to have it and lack of discussion on needing it rather than mitigating benefits?

MPPI is a bit different to credit card and loan PPI. It suffers less exclusions, tends to pay out in addition to employer benefits (unlike some loan and credit card) and it is covering a major long term debt with lifestyle changing consequences if it goes unpaid. Unlike loan and credit card.

if you can prove you were told you had to have it when you didnt then you have a strong complaint. If you can prove the lack of discussion (And not much was actually required pre 2005) then you may have a strong case. If you cant show either of those, then it is an easy rejection on that particular point. They will then look at suitability and eligibility and if there are no issues there then a rejection would usually follow unless it gets auto-payout (more common on loan and credit card but many of the lenders stand firm on MPPI given its lower uphold rate at the FOS).