Hidden PPI?

Anagran

Hi,

I have been told today by a claims company (which if I have a claim I will not use) that even though I checked my paperwork and found no evidence of PPI charges that they believe I did pay it and it was just "hidden" in the interest charges. Is that possible?

They want me to submit a claim.

I am not sure about this as the loan was taken out over 6 years ago and I have thrown out the paperwork.

Does anyone know what happens if the finance company has no paperwork either as it was too long ago?

I am worried the claims company are just telling me a lot of rubbish.

DevCoder

The claims company is just taking rubbish, they want you to sign up where you pay fees even if you are not successful.

If neither party has any documentation then there is no further recourse.

societys_child

it was just "hidden" in the interest charges. Is that possible?

Short answer. No.

dunstonh

hey believe I did pay it and it was just "hidden" in the interest charges. Is that possible?

No. Its a common claims company lie.

It is possible that people didnt read their documentation and were not aware it existed but when it does exist, it would appear on the monthly statement (if credit card) or on the loan agreement.

it is not actually possible for it to be hidden in interest as it would no longer be interest. It would change the rate on the APR. So, there isnt much logic to it either.

Insider101

Anagran wrote: »

Hi,

I have been told today by a claims company (which if I have a claim I will not use) that even though I checked my paperwork and found no evidence of PPI charges that they believe I did pay it and it was just "hidden" in the interest charges. Is that possible?

They want me to submit a claim.

I am not sure about this as the loan was taken out over 6 years ago and I have thrown out the paperwork.

Does anyone know what happens if the finance company has no paperwork either as it was too long ago?

I am worried the claims company are just telling me a lot of rubbish.

Ironically enough this is the very definition of misselling. A sales rep who is probably on commission for everyone he signs up telling you whatever might get you interested.

As others have said it is nonsense. If you have a quoted interest rate on your credit agreement it means they have the lawful right to charge you that rate of interest. There would be no benefit to anyone in " hiding" PPI in the interest rate even if it were possible.

Anagran

Thanks for your replies, I am annoyed at myself for almost being talked into this, luckily I have learned from here not to go with any of these companies. You have all been a great help and put my mind at rest.

sparklemoo29

i had to reply to this make sure you write i just posted in ppi, i had a small barclays loan in 2004 had no paperwork nothing closed accounts yrs ago, i filled out a online form on there site as had funny feeling in those years 2005 and under they slapped on ppi i was honest and said look i have nothing no evidence nowt had a letter last week we are looking into this as i said i would never agree to ppi on 1,000 worked full time etc etc, later this morning with a chunky check of near on 400 they had mis sold to me and admitted it fully yet i never saw it on any paperwork so if you are unsure like i was, just write to them its worth it i just got a chunk back and it took a small questionnaire thats it

[Deleted User]

sparklemoo29 wrote: »

yet i never saw it on any paperwork

On your other thread, you claim to have had no paperwork?

sparklemoo29_on_the_other_thread wrote: »

I had no paperwork or evidence