PPI Reclaiming successes and failures

ClassicMad

Help please as I'm starting to doubt myself!
When we lived at our last house we took out a Home Owner Loan with existing mortgage lenders, C&G building society. We've always been savvy with loans and additional insurance policies so would have never knowingly taken out PPI.
Ever since this PPI reclaim business has hit the news, I've received phone calls telling me that I should reclaim. I've always told them that I had nothing to claim as I've never taken out PPI..... then one day I thought that I'd give one of the company's something to do and proceeded with a claim. Unfortunately we didn't have much paperwork left relating to the loan, but they took it on, only to be told many months later that there wasn't a claim. We still continue to get the calls from various PPI claim companies, and they all insist that it's with "AA Finance".... the C&G loan was the only thing (apart from the mortgage) that we've borrowed, so does anyone know if AA & C&G are linked....? and if this is the one and the same loan, how come people still seem to think we have an outstanding claim if we've been told it's not valid?

Is this worth pursuing?

Thanks

dunstonh

Unfortunately we didn't have much paperwork left relating to the loan, but they took it on, only to be told many months later that there wasn't a claim.

So, in effect, you put in a fraudulent complaint via the claims company. I know that isnt what you would class it as but that is what you allowed the claims company to do in your name.

We still continue to get the calls from various PPI claim companies, and they all insist that it's with "AA Finance".... the C&G loan was the only thing (apart from the mortgage) that we've borrowed, so does anyone know if AA & C&G are linked....?

No, they are not linked. C&G didnt retail insurance for most of the life. After Lloyds bought them, they did begin to retail PPI but online a standalone monthly premium basis. So, you would have a direct debit for the PPI if you had it.

how come people still seem to think we have an outstanding claim if we've been told it's not valid?

Claims companies are mostly chancers who employ low/no knowledge reps on a commission to get you to sign up on the off chance they may find something. They are worse than the banks in how they operate.

Is this worth pursuing?

Ignoring the fact that most mortgage/secured loan PPI complaints get rejected anyway, you have not mentioned why you think you were mis-sold. You have no evidence that you paid it and C&G say you didnt. You dont refer to any monthly direct debit going out which also suggests you are not paying any either. So, what makes you think that cold calling scam companies are right and everyone else is wrong?

RosaBernicia

Here's a success story - it's from 2008 so a little late, I only just realised you're collecting them - but it might be of interest anyway.

In 1999 I applied to Halifax for a personal loan of £2,000. I was a new graduate and this was to clear an overdraft and credit card - let's not get into how bad a deal it was, particularly at 16.9%, I'm just glad I found MSE since .

At the time of taking out the loan I was told by the salesman that I had to take the insurance, or it would not be possible to have the loan. I was surprised by this even at the time, since the cost of the PPI was £460 even without interest, and offered a guarantee by my parents. I had a permanent job at the time and the repayments were well within my means. The salesman told me refusing this insurance = no loan, and I took it anyway since I was not sure what other options I had and didn't know where to find out.

In early 2008 I wrote to Halifax requesting refund of the PPI amount plus 8% interest, using the standard letter and guidance from MSE. I included a copy of the loan agreement (because this is where being really anal about finance filing is helpful :rotfl:). They refused, saying they had no evidence that the policy was mis-sold.

I completed the Financial Ombudsman form and sent it off. They acknowledged receipt, and in August wrote to me saying that Halifax would offer me repayment plus interest 'as a gesture of goodwill' :rotfl::mad:. I confirmed my acceptance of this offer, and received the cheque in September. £715 :j:beer:

Thank you so much MSE :money::A


Rosa xx

mkc63

Having just seen the headline "I always turned PPI down .... don't assume you're not eligible" in your newsletter it made me wonder if I've missed any PPI stuff because it has never been shown on any statements. I have always vetted all my statements carefully and never take any unexplained entries that do not match my own records for granted and have always turned down PPI. Only place I can think they may have been hidden is in the few instances where there has been an annual fee for a credit card before the days of free cards?

dunstonh

mkc63 wrote: »

Having just seen the headline "I always turned PPI down .... don't assume you're not eligible" in your newsletter it made me wonder if I've missed any PPI stuff because it has never been shown on any statements. I have always vetted all my statements carefully and never take any unexplained entries that do not match my own records for granted and have always turned down PPI. Only place I can think they may have been hidden is in the few instances where there has been an annual fee for a credit card before the days of free cards?

PPI is not hidden. It cannot be hidden in an annual fee or interest. It would appear on the statement. Some providers show it in the transaction list. Some show it as a deduction after the current outstanding balance. However, it does appear.

ClassicMad

So, in effect, you put in a fraudulent complaint via the claims company. I know that isnt what you would class it as but that is what you allowed the claims company to do in your name.

Fraudulent? A bit harsh I think. I saw it merely as a way of getting them off my back as they insisted that I'd had it in the first place. And, actually, after I'd placed a call to my local C&G to find out if there was PPI in place, I was told to try and put a in claim anyway!

No, they are not linked. C&G didnt retail insurance for most of the life. After Lloyds bought them, they did begin to retail PPI but online a standalone monthly premium basis. So, you would have a direct debit for the PPI if you had it.

I don't remember a separate PPI direct debit, but as it seems the banks have been somewhat sneaky about these things anyway, I'd assumed it would be included in the monthly payment, if it had existed.

Claims companies are mostly chancers who employ low/no knowledge reps on a commission to get you to sign up on the off chance they may find something. They are worse than the banks in how they operate.

I'd assumed they were all chancers too. But several different companies have called me and they all have the same information which fits the correct time frame. I don't allow the conversation to be led, and let them give me the information.

Ignoring the fact that most mortgage/secured loan PPI complaints get rejected anyway, you have not mentioned why you think you were mis-sold. You have no evidence that you paid it and C&G say you didnt. You dont refer to any monthly direct debit going out which also suggests you are not paying any either. So, what makes you think that cold calling scam companies are right and everyone else is wrong?

You're correct, I have no evidence that I paid it. That loan has long gone, and we have since moved, so quite a lot paperwork has also gone too. Had we been charged it (unknowingly) it would definitely have been mis-sold as we never take out this kind of insurance. Both of us were in work at the time, we had savings, and the majority of these policies that we'd looked into for a previous mortgage, wouldn't pay out for several weeks, in which time we were confident that we'd have been able to find some kind of work to cover living expenses

So, thank you for your more than terse responses, I'll go and lash myself in the car park now for even daring to ask questions! How dare I distrust what a building society is telling me!

dunstonh

Fraudulent? A bit harsh I think. I saw it merely as a way of getting them off my back as they insisted that I'd had it in the first place. And, actually, after I'd placed a call to my local C&G to find out if there was PPI in place, I was told to try and put a in claim anyway!

You are making a complaint against an individual. Whilst many staff members will not be personally responsible, some of the staff are individually regulated and would face the consequences of a complaint. A complaint, like the one you did, can have consequences for some people.

I don't remember a separate PPI direct debit, but as it seems the banks have been somewhat sneaky about these things anyway, I'd assumed it would be included in the monthly payment, if it had existed.

Difficult to be "sneaky" on regular premium MPPI. You get sent policy documents. You get a letter telling you what the direct debit amounts and dates will be. You can see the direct debit on your bank statement each month it is paid.

I'd assumed they were all chancers too. But several different companies have called me and they all have the same information which fits the correct time frame. I don't allow the conversation to be led, and let them give me the information.

Information about your secured borrowing is in the public domain. Information about your insurance is not.

So, thank you for your more than terse responses, I'll go and lash myself in the car park now for even daring to ask questions! How dare I distrust what a building society is telling me!

Its not a problem asking questions. Thats fine. Its more the way you believed a cold calling scammer and put a complaint in without even having the product you were complaining about. Maybe if you had seen the CMC letter they would have sent in (likely to be listing a range of allegations which are completely made up) you would understand what I mean. You accuse the building society of mistrust. They really ought to have the same view of you now.

Nasqueron

Classic - don't you think it is worrying that these firms have your data (which isn't in the public domain)? How do they know when you took out a loan or who with?

Register with TPS and hang up on them immediately - if no luck, use a whistle on the phone after warning them or, if you are confident enough, start asking them personal questions like their underwear colour, you will soon be on a "do not call" list

credit card PPI is charged to the credit card so would appear on every statement
loan PPI would either be a direct debit or included in the loan itself (so called single premium which will 99.99% get a refund as it's a terrible product)

Star9272

dunstonh wrote: »

It should be noted that every month you had that credit card where you didnt pay the balance in full, the PPI payment appeared on that statement. This just highlights why you should check your statement transactions. What else have you missed in that period? retailers using incorrect amounts? duplicated transactions? fraudulent transactions?

The balance was paid in full for a long time & the charges appeared when we over stretched (or being self employed wasn't paid) & got buried with other charges.
What else have we missed? Exactly! Lesson learnt.

graham1_2

Brokerwise wrote: »

How did that work ? You would have had to go to the seller first, The Loan Company, they would have rejected your claim as it was pre regulation and they did not subscribe to the Mortgage Code at the time so FOS would have no remit to adjudicate ?

The Loan Company were taken over by another Finance Company during the "Noughties". I found the companies name, Greenhill Finance, and passed all the information on to the Financial Ombudsman. They handled everything.
I promise you this is a genuine case and I still have the paperwork to prove it.
Thanks again MSE.:)