PPI Reclaiming successes and failures

prescok

Hi
I contacted Lloyds TSB on 29th December 2012 advising that I wished to lodge a complaint re. mis-sold PPI on a few loans dating back to the mid-1990's. I was clear that my extensive work-related benefits, as well as my husband's meant that I would never have had any need to claim on PPI insurance. In spite of this I recall that I was advised, on several occasions, that the insurance had to be taken out in order to get the loans. I was told on the phone that there were 13 products which I'd had which they would investigate! A letter a few days later indicated that I had had many more than the two loans I recalled and also, that there was perhaps insurance connected with my numerous bank overdrafts? (of which I was fully unaware)

I received what felt like quite an interragatory phone call on 23 Jan. Having no paperwork for any of the products I relied on my memory to discuss loans/overdrafts dating back to 1993.

Long story.... I know but my query is, what is taking the time? From my full response to the bank staff member I expected a speedy decision and a letter, however several chase up phone calls later have resulted in the response " a decision has not yet been made"
My imagination has me on the one hand eventually receiving an extremely detailed reason as to why my claim has not been upheld - the reason why it took so long to reply or on the other hand that it is taking so long due to the working out of the details of the offer the bank will make. Any supportive responses would be very welcome. Patience has never been my strongest point!!

amersall

They have 8 weeks to provide a final response or ask for more time if they need it, you are only on week 5, you have to give them chance to look at this claim.
Let them get back to you, hopefully you won't have to wait too long to get a decision.

sonofmerton

I told my friend about my success and she has asked me to ask on here about her Tesco credit card. She believes she was miss-sold ppi on it. She has good reasons, but I argued with her that she probably had card protection not ppi on it and card protection is not covered under the miss-selling. Anyone know for sure?

dunstonh

sonofmerton wrote: »

I told my friend about my success and she has asked me to ask on here about her Tesco credit card. She believes she was miss-sold ppi on it. She has good reasons, but I argued with her that she probably had card protection not ppi on it and card protection is not covered under the miss-selling. Anyone know for sure?

Card protection is not PPI. Anything can be mis-sold but most stuff isnt. Paying an insurance or paying for a service does not mean you were mis-sold. She would need good reasons.

-taff

sonofmerton wrote: »

I told my friend about my success and she has asked me to ask on here about her Tesco credit card. She believes she was miss-sold ppi on it. She has good reasons, but I argued with her that she probably had card protection not ppi on it and card protection is not covered under the miss-selling. Anyone know for sure?

If it's a yearly payment it's card protection. If it's on every statement, it's PPI.

Jonesy1977

Hi All,

Posted my "story" 6 weeks ago. Went through the process with Barclaycard, I was asked for supporting information which I provided and I was given a settlement of £3300 last week which I have accepted.

My advice to anyone doing this is to keep any communications very clear and fact based, I would also send all letters recorded delivery (my first letter went missing)

Good luck all............

[Deleted User]

sonofmerton wrote: »

card protection is not covered under the miss-selling.

It's important to understand that any insurance can be mis-sold, not just PPI. However, in order to complain successfully, you need to be able to show that mis-selling took place. It's never enough that you simply had a policy.

fatbeams

Hi

Just reporting my first PPI success from Ocean Finance dating back to 2005.
I had one of those nasty front loaded PPIs where they kindly lend you the money up front for the insurance - and then fail to adequately tell you that the insurance lasts for 5 years when the length of loan was for 20 years.

I did this through a claims management company with fees of 10% plus vat so not too bad.

Just had their offer through after 12 weeks waiting - £4500 :T

After fees that brings back about £3900. I now have the confidence and know-how to tackle a couple more PPI on store cards that my wife had when she was not working whilst bringing up the kids.

Happy days!

sonofmerton

Moneyineptitude wrote: »

It's important to understand that any insurance can be mis-sold, not just PPI. However, in order to complain successfully, you need to be able to show that mis-selling took place. It's never enough that you simply had a policy.

She has very good reasons. Thanks.

-taff wrote: »

If it's a yearly payment it's card protection. If it's on every statement, it's PPI.

I text her and she said it was on every payment around £30 each month, PPI it is then, I was wrong. Thanks.

hraki

Hi, I hope this in.the correct section,

I had success with my A&L loan ppi claim, but recently complained to Barclays about credit card ppi and they have turned it down.

As with other policies I wasn't aware it didn't cover existing conditions, if I was I'd have not taken it out and taken alternative cover.

Their reply was :

We have considered the information that you have provided in support of your complaint in addition to reviewing the circumstances and information available to us for each one of the reasons and found no evidence of a mis-sale. As a result we are not able to uphold your complaint. For completeness we have listed below the outcome of our investigation on your original complaint reason.

Our sales process used at the time of the sale required the sales advisor to fully, clearly and transparently discuss:

The optional nature of the policy;
The price of the policy;
The significant exclusions and limitations of the policy; and
The cost and benefits of the PPI policy.

Do I bother to take this further with the ombudsman ?

Thanks

Adam