PPI Reclaiming successes and failures

AnnaElc

amersall wrote: »

Did the insurance he have, cover for sickness and did he have life insurance besides? if he did then I would write back and show that it was covered and the loans and Mortgage could be repaid in any event.

Hi yes the self employment insurance had cover for sickness and he also had life insurance. I will write back today - thank you so much,

I think winding up the business would be a bit rash if he was ill - strange thing for them to say I thought.

Thank you again

amersall

AnnaElc wrote: »

Hi yes the self employment insurance had cover for sickness and he also had life insurance. I will write back today - thank you so much,

I think winding up the business would be a bit rash if he was ill - strange thing for them to say I thought.

Thank you again

You are welcome, let me know how you get on.
Winding up a business so you can claim sickness payment when you are ill just about sums this up

sonofmerton

I partly used the experiences of those on here to convince myself to go for it and today accepted an offer for over 6k.

In my case I genuinely felt annoyed with my provider 1. because i was pushed into taking out ppi or 'you won't get the loan' and 2. when it came to claiming after i lost my job, i was told it didn't apply and i should have been told that.

I had no paperwork due to a house move and aside from the 10 page thingy from the FOS and a couple of other bits, that's all I needed.

Cheers.

husaberg

husaberg wrote: »

so after FOS initially finding in my favour LTSB have to make an offer or respond by the 4th of Feb......my question is what are the chances of them replying on time????

cheers in advance

Anyone????

[Deleted User]

husaberg wrote: »

Anyone????

You'll know for sure on Monday..

Phil-2244

So, here's where I'm at. Complained to Yorkshire (Clydesdale) bank in November about 11 loans going back to 1993 through to 2000. PPI was mis-sold to me face to face each time in relation to what the PPI actually covered me for; when it came to the crunch and I tried to claim in 2002 I was told to jump. Wasn't best pleased and often thought about it, finally complained sending copies of original statements showing the loan amounts and the front loaded PPI and the one copy of a loan agreement that I had. Received a letter back stating the time lapsed was too great and as there were no copies of original loan agreements (even though I had sent a copy of one) they were unwilling to investigate. Again, not best pleased, so I wrote back stating why I was unhappy with their conclusion and stated my case again.

Early January I received a letter stating they uphold my complaint on the grounds that they can not be certain that the policy was suitable or sold correctly. However they will only settle on the one loan for which I have the original loan agreement copy. Aargh!

So, I have accepted this settlement and have wrote to the FOS asking them to make a judgement on the other loans, here's hoping........

ajwid01

Hi,

In December 2012, I became aware that it WAS still possible to claim for mis-selling of PPI on loans from LLoydsTSB back into the 1990s. (Someone from a claims management company touting for business had previously ill-advised me that there was a time-limit of 5 years.)

I phoned them up (I still bank with them), and was put through to the Phillipines where I was promptly told that I had a history of 10 loan accounts with them (most of them closed); and they would 'flag' them all for investigation. They couldn't tell me there and then whether PPI was sold on them. I knew for certain that at least 2 of them did, back into the 1990s; but I knew that most of them did not.

I received a call on my mobile phone 2 weeks ago from a very polite gentleman who informed me he was handling my claim.

He acknowledged that they had history of my 10 loan accounts on their system, and that PPI had been attached to 2 of them (as per my recollection).

However, thereafter he asked me if I knew any of the details pertaining to the loans. Apparently all he knew from the information in front of him at the time, was that the loan accounts were closed /settled in 1997 and that PPI had been sold on them.

I was at work at the time, and in any event, I'm pretty certain I haven't retained the paperwork going back that far. He asked me to confirm why I believed it was mis-sold and he was happy with my response. I asked him if; given that he didn't have any more details in front of him - and I couldn't tell him "here and now" any more details, does that mean I was on a "hiding to nothing" in terms of recompense for the mis-selling.

He informed me that there were a couple more avenues of enquiry he could undertake to see if he could uncover further details on the loans; and that I would receive a response within the next 2 weeks.

I have received a written response today that clearly sets out that no PPI was attached to 8 of the accounts, and that missold PPI was upheld on the other two.

However, it goes on to say that as they have no records of the amounts of the loans and whether there were any payouts on the PPI attached to them; they would reimburse me what they felt was a "fair and reasonable" sum (in this instance their computed AVERAGE payout for all PPI claims on loans).

They are suggested that the average payout sum is £1,200; so are paying this sum for each loan.

Considering that most loans I took out with them were for sums in excess of £10,000, and always for the maximal term (5 years); and therefore that these PPI premiums would have likely dated back to 1992/1993, so there is around 20 years of interest to be attached to that.... £1,200 seems a little on the low-side as a settlement offer.

Frankly, if they know these loans existed, and that PPI was attached to them, I'm at a complete loss as to why they don't have further information: such as how much they made from me in PPI and interest, and the amount of the loan.

Who on earth would record that a loan existed, but not the amount?

This seems ridiculous.

Has anyone else had any experience like this?

Don't get me wrong - this is money I never expected to see, and fine - if they don't have records; £1,200 as a default sum could be considered generous. I just find it hard to believe they don't have the additional information available.

It makes me feel like they're trying to pull a fast one on me, and try to get me to agree to a paltry default payment.

Comments, ideas anyone?

Tony.

amersall

With no details from that far back they are making a goodwill gesture, you could try and see what info they have to tell you that PPI was on the loans.

It is possible they know the original PPI amounts but not if you cancelled this or settled the loans early, this would affect any claim even if you had the info, ask them to provide the info they have so you can see what they have seen, detailed loan agreements would after 20 years, I would think, be a very rare occurrence.

[Deleted User]

ajwid01 wrote: »

Who on earth would record that a loan existed, but not the amount?

Think about it, the only reason information on these old loans has been recorded at all is to show that you paid them off and so no longer owe the bank anything on them. The amount of the original loan (and associated PPI) is incidental.

If you were no longer a customer, they would have deleted even this limited information.

I'd say you were fortunate to be receiving the £1200.
It might be different if you had documentation from your own archive.

ajwid01

Many thanks for the prompt responses.

I agree it could be considered a reasonable goodwill gesture. Sadly for me, my own records only go back to 2000.

I know when I recently went into the branch for an account review with my personal banking manager, they had a whole dossier on my account history there - seemingly going back to the late 80s; I think that's where my suspicions are aroused that they "don't know".

I can appreciate that there might not be an "easy access" to some information, and someone in a central PPI Dept is hardly likely to go raising queries at branch level for every case that crosses their desk, they just wouldn't have the manpower for that - it would be just easier to dismiss it and say they don't have any record. A customer branch level enquiry might elicit more info (?)

I'm guessing it won't hurt me to ask the question at branch.

Do I have any rights of access to the records that they hold about me; or they could just refuse (even on the grounds that it's too much effort)?

I know when I did some 'temp' work for a financial company back in the early 90s, they stuck most of their paper files onto microfiche after a point. Couldn't it be possible that these are still accessible to branch - but not remote departments?

I can't believe they have done much digging, if they've been able to send a response letter out within a week or so. More likely they've gone down the path of least effort.