PPI Reclaiming successes and failures

lolapug

Hi we have just received an offer from Lloyds of just under £8k in respect of PPI on consolidated business Loans dating back to 2002 and Commercial Overdraft Protection.
Very happy and grateful to members on this forum for their expert advice. Thank you so much!

Big_Fish

Hi Folks
Not reclaimed a penny yet ,have been threatening for sum time.
Need help!
Have many personal and business accounts closed but dating back to 1995 to 2003, mostly with the Clydesdale bank. (morgages overdrafts loans too)

Can I go back that far ?

If so, what is my best way as keep hitting brick wall .
Told the only keep records 6 years !
Any advise would be greatly appreciated.
Kind Regards

cuteweenumber

Big_Fish wrote: »

Hi Folks
Not reclaimed a penny yet ,have been threatening for sum time.
Need help!
Have many personal and business accounts closed but dating back to 1995 to 2003, mostly with the Clydesdale bank. (morgages overdrafts loans too)

Can I go back that far ?

If so, what is my best way as keep hitting brick wall .
Told the only keep records 6 years !
Any advise would be greatly appreciated.
Kind Regards

Have you filled out martins forms? I did and for some didn't have pip reference numbers. I did have payment references though.

My successes were all some time ago but it didn't seem to matter!

Nasqueron

cuteweenumber wrote: »

Have you filled out martins forms? I did and for some didn't have pip reference numbers. I did have payment references though.

My successes were all some time ago but it didn't seem to matter!

The problem is if the bank no longer has any details of the accounts as they were destroyed as older than 6 years (in line with current practice and Data Protection laws) then if the person also has no records the complaint will simply not go anywhere as they cannot prove they had and paid for PPI.

Sending in a form is a waste of time if you have no records - the only way you can be sure is to send a SAR and £10 payment to the company if you think they may still have data on you that the front line team can't see and that is a £10 gamble as you'll lose it if they don't have anything left.

Orville

Big_Fish wrote: »

Hi Folks
Not reclaimed a penny yet ,have been threatening for sum time.
Need help!
Have many personal and business accounts closed but dating back to 1995 to 2003, mostly with the Clydesdale bank. (morgages overdrafts loans too)

Can I go back that far ?

If so, what is my best way as keep hitting brick wall .
Told the only keep records 6 years !
Any advise would be greatly appreciated.
Kind Regards

Do a SAR i did. My loans went back to the late 80's early 90's. Although they didn't provide statements, some of the paperwork was of my origional loan amount with the words 'including insurance' and the other bits had the total amount which looks like the ppi was front loaded into it and interest then added to the amount. I am basing my claim on it being front loaded

Give it a go. Could be the best £10 you'll spend. If not then no great loss....

mickybhoy

I wrote to Lloyds about a ppi claim in 2011 and it was rejected, I sent the complaint to the financial ombudsman and I got a letter back 2 weeks ago saying they have looked at the complaint and won in my favour, just got an offer from Lloyds for £4300. Result!!

sl321

I just wanted to add my gratitude to all the advice available on this site. So long as you carefully read the instructions and various pieces of advice, this site really is invaluable. I had previously been a bit nervous about approaching my bank with a PPI claim but I went through with it (without any help from a third party), and yesterday I received a letter with confirmation that I'll get a nice sum paid to me in the next 28 days.
Thanks for the advice - keep up the great work! :money::beer:

melid

Hope someone may be able to advise? Husband has recently had SAR returned to confirm he had mortgage PPI on a mortgage running from 2006 to 2011. On the loan agreement "requirement" is written across the insurance part and husband recalls being informed that it was a condition of the mortgage. Could this be mis selling? I believe the rules are different with mortgage PPI to loan PPI but not sure how. The mortgage was with barclays. Thanks for any help.

dunstonh

On the loan agreement "requirement" is written across the insurance part and husband recalls being informed that it was a condition of the mortgage. Could this be mis selling?

No. Lenders are allowed to insist on insurance as a condition of borrowing. its not common nowadays but in the past it did happen when purchasing mortgage deals. i.e. buy an insurance product with us and get a special mortgage rate. That is allowed.

Where it is mis-sold is where it was not a condition but you were told it was. i.e. a lie.

I believe the rules are different with mortgage PPI to loan PPI but not sure how.

The rules are the same but mortgage PPI has fewer issues than loan or credit card PPI. Partly as it is usually standalone and monthly premium (the ideal way to have it set up) and its covering a major debt with lifestyle changing consequences if it goes unpaid. Today, mortgage PPi is one of only two types of PPI still retailed.

melid

Thank you. Would you suggest there is little point making a complaint then?