ppi reclaim tips

monket

i have reclaim forms from capital one that i took out in may 2004 online, i didnt know i had it until i got a statement at end of 2013, what is the best way to go about reclaiming please

-taff

fill in the form honestly.
Your chances are not great because you bought online.

dunstonh

...plus, it would be a good idea if you had a stronger reason than "didnt know I had it" as it would have appeared on every statement issued that you borrowed money on outside the free period.

monket

were capital one not fined in 2005, for their misleading online applications and i like 99% of the country do not fully read their statements, i pay by direct debit, so dont even open the letters per say, wrong i know but genuine, and only realised when i got an annual review statement, which i believe only became policy, if i dont have a case, yes thats fair, but i had a full time job, with full sickness pay and i genuinely know the onus is on me to read details online but i feel i filled it out as required

dunstonh

monket wrote: »

were capital one not fined in 2005, for their misleading online applications and i like 99% of the country do not fully read their statements, i pay by direct debit, so dont even open the letters per say, wrong i know but genuine, and only realised when i got an annual review statement, which i believe only became policy, if i dont have a case, yes thats fair, but i had a full time job, with full sickness pay and i genuinely know the onus is on me to read details online but i feel i filled it out as required

Cap One were fined early on and were required to put right all those affected. So, any remedial action was taken at that time. That is one of the reasons why Cap One now have a very low overturn rate at the FOS (one of the lowest there is at 10-20% depending on monitoring period you look at).

You are wrong to assume that 99% do not read their statements. Only a minority do not.

You were not sold PPI. You bought it. That is the biggest difference. You are effectively hoping that their website at that time contained an error. Your date was within the period that failures were identified. However, those affected by it were written to and given the chance to correct it if they felt it was wrong 7 years ago. Perhaps you didnt open that letter either.

[Deleted User]

monket wrote: »

i like 99% of the country do not fully read their statements

That figure is nearer the opposite, I'm afraid. The vast majority DO check their statements; some more fastidiously than others admittedly.
Very very few will not bother to open the letters at all!

Regardless, it's a myth sponsored by claim companies that PPI was randomly added without the knowledge and permission of the customer. So stating that you didn't know you had it, just indicates that you have forgotten agreeing to it.

Your main problem is that you bought online, which means that no banking staff were present to mis-sell you the insurance. If you purchased an inappropriate policy then you mis-bought rather than were mis-sold.

monket

thanks for all your helpful, if not judgemental comments

-taff

Not judgemental, just accurate.