Alliance & Leicester PPI

cattermole

I've been having a mass clear out of paperwork and discovered two personal loans from A&L dating back to 2002 and 2004 the latter one shows a PPI which I was totally unaware of until now. I only have a letter for the 2002 one saying it was paid off. The 2004 one says it was a car purchase loan (not hire purchase though as far as I can make out). The settlement figure shows no refund of insurance either.

Is it too late to make a claim?

Many thanks.

amersall

If you have reasons for mis sell, send the paperwork that you have to Santander, let them know this was A&L and see what they come back with.
It is possible due to the time lapse that they have no more info regarding these loans so be prepared for a rejection, people have won mis sell (me included ) from years ago with very little paperwork.
Good luck.

If you paid the PPI in with the monthly payment, this is Single Premium so use this as one of the reasons for mis sell, this was a loan on the loan that you repaid to term end with interest, if you settled early, after a rebate of the PPI, you repaid the remaining PPI back in the settlement figure, this would not have been explained to you at the point of sale, if this was done on the internet, the above points would not have been clear to you, especially regarding any rebate for early settlement, it would maybe show the rebate % if you settled at xyx term but not that the remaining PPI would have been repaid by you in the settlement.

cattermole

Thanks amersall, looking at the paperwork it doesn't look as though they pre-loaded the PPI into the loan amount, more that there was a monthly charge added on each month for the PPI.

The insurance is called car purchase protection plan, although it is only life cover so not really that useful and very expensive at £8.75 per month in 2002.

It's a strange personal loan really obviously designed to buy cars but not HP as its 48 payments then the option to make a balloon payment or carry on with 17 more payments (with insurance) but all the interest apart from £143.06 is paid in the 48 months.

It's also only life cover on myself and not on my husband despite it being a joint loan, thinking back I think I was told I had to have the insurance for the loan.

[Deleted User]

cattermole wrote: »

The insurance is called car purchase protection plan, although it is only life cover so not really that useful and very expensive at £8.75 per month in 2002.

Unfortunately you can't complain because the insurance was expensive and, unless you are immortal, you can hardly say you didn't need it.

Complaining you were told it was compulsory (if it actually wasn't) is a weak "hearsay" complaint which is unlikely to be borne out by the documentation you signed.

This is NOT PPI at all I'm afraid.

PPI is payment protection insurance to cover you in the event of unemployment -this is life insurance.

Life insurance does not have the same generic mis-selling faults as PPI and is unlikely to have been mis-sold. It was certainly set up correctly as a separate monthly premium.

cattermole wrote: »

one shows a PPI which I was totally unaware of until now

Saying you were "unaware" of the insurance is not a legitimate complaint, the insurance will not have been added without your knowledge and permission. If you didn't know about it, you've simply forgotten.

cattermole

I beg to differ I had a policy refunded from Northern Rock that was purely life assurance and that was counted as PPI and had no problem getting it back. It's still payment protection insurance (just covering death). I didn't need life cover as I already had adequate life cover elsewhere, so was paying for an unnecessary product.

I agree with A&L it was paid monthly not added on as a lump sum makes a difference but I still did not need life cover which is PPI.

[Deleted User]

cattermole wrote: »

I beg to differ I had a policy refunded from Northern Rock that was purely life assurance and that was counted as PPI and had no problem getting it back.

You may well have had a successful complaint about life insurance, but it is not "counted" as PPI.

cattermole wrote: »

It's still payment protection insurance (just covering death).

Life cover is not PPI, anymore than home insurance is PPI. They are different insurance policies designed to cover entirely different claimable events.

If you complain that you already had existing life cover and so win redress, that still won't make it a PPI complaint.

You can complain about ANY insurance being mis-sold.

dunstonh

I beg to differ I had a policy refunded from Northern Rock that was purely life assurance and that was counted as PPI and had no problem getting it back

Life assurance is not PPI and cannot be counted as PPI. Its like comparing a helicopter with a car.

It's still payment protection insurance (just covering death).

no its not.

I didn't need life cover as I already had adequate life cover elsewhere, so was paying for an unnecessary product.

And maybe that is why your complaint was upheld. There has to be insurable interest and financial need. If you can show there was no financial need then a complaint on life assurance will usually be upheld. If there is a financial need then usually a life assurance complaint will be rejected.

cattermole

Well it says PPI on the reply I received from Northern Rock, it is protecting the payments in the event of death and is tied to the loan.

They had different levels of cover all called PPI from gold to bronze and the latter only covering death.

[Deleted User]

cattermole wrote: »

They had different levels of cover all called PPI from gold to bronze and the latter only covering death.

It's not payment protection insurance covering unemployment.

There is nothing actually wrong with PPI, in order for it to be refunded to you it needs to have been mis-sold.

You complain about the manner in which it was (mis) sold, not about the product itself.

dunstonh

Well it says PPI on the reply I received from Northern Rock, it is protecting the payments in the event of death and is tied to the loan.

That doesnt make it PPI. Indeed, PPI is accident, sickness and unemployment cover. It doesnt actually cover death. it probably isnt life assurance either. Instead it would be life insurance written under a general insurance contract rather than by life and pensions company.

cattermole

I've found 3 more 2 of which are definitely PPI with HFC which I know I have a case for because I was on Carers allowance at the time so wouldn't have any benefit from loosing a job or sickness benefit as I didn't have one in the first place to loose!

Another with Chartered Trust and says PPI.

Is it correct with Chartered Trust I have to go to Lloyds Black Horse and with HFC HSBC with the complaints/claims?

Thanks again.