Reclaiming PPI after divorce

joseph9a

Hi All,

My mum and dad divorced about 8 years ago. If I remember correctly it was before people were aware they may have been mis-sold PPI. I was just wondering how I would go about checking if they are eligible to claim.

They had a joint bank account and a 2 joint mortgages on seperate properties. They also remortgaged the home for about £100,000.

The reason I'm looking into it for them is they are both struggling financially and they have never applied for PPI.

What i'm thinking is because they had a joint mortgage this would be a joint claim, but then they have had personal loans each themselves. So would that mean technically they would have to do 3 claims? a personal one each for loans, credit cards etc, and a joint claim for the mortgages they have had.

Also how long can the PPI be claimed back from, and my mum and dad aren't great at keeping records, is there a credit report you can get that can go that far back?

I was going to try and do the claim myself and save a hefty percentage which some companies may charge.

Any advice really would be appreciated.

Thanks

Joe

Stevie_Palimo

You can claim on loans and credit cards but the mortgage would have little or no chance of any redress against, All you need to do is look at what they have had with loans and credit cards and then approach the different Companies concerned asking about the PPI on accounts to claim it back.


I would say the fairest way here would be all the money claimed back put into a pot and then split 50-50 between them as this would then give them both an even share as opposed to you had that loan I had that card scenario.


What you need to bare in mind is that PPI will soon have cap on claiming if not in place already with a 2 year time frame to apply to any Company for redress here.

joseph9a

Would I need to write to the mortgage companies also? I was just wondering why you think there would be little chance of claiming it back against the mortgages?

Would a full credit reports show history of loans and credit cards etc? or does this only go back for a period of time like 10 years or so?

Also would I need to send a document signed by both of my parents to make me the point of contact?

Stevie_Palimo

I would be 100% sure you get nothing from the mortgage Company but you can try, If the Mortgage Companies had of been forced to pay out redress this would brought the UK to it's knee's and we would be in a worse position than Greece.


Not sure how far back the credit files go as I do not believe in them at all and think they are all a load of tosh designed and in place to rip off Joe public, If it was me I would go on memory of what loans and cards they had and also look through bank statements and the likes to see what they had around the time.


If you are looking to deal with this for both of them then yes you need to get them to sign a letter stating that you are dealing with this for them.

dunstonh

I was just wondering how I would go about checking if they are eligible to claim.

Everyone is eligible to complain. You can complain about anything you like. Its whether there is any merit in the complaint that matters.

The reason I'm looking into it for them is they are both struggling financially and they have never applied for PPI.

If they never applied for PPI then how can they complain about how PPI was sold to them?

Insider101

joseph9a wrote: »

Hi All,

My mum and dad divorced about 8 years ago. If I remember correctly it was before people were aware they may have been mis-sold PPI. I was just wondering how I would go about checking if they are eligible to claim.

I assume what you mean is "eligible to complain" rather than "claim" (a word which is often used to refer to a complaint, but in an insurance context the literal meaning of "claim" is to use the policy for what it was intended for). In this instance then as Dunstonh said, anyone who has had a PPI policy is eligible to complain. It is whether there is any merit in the complaint that matters (as well as, in some cases, who the product was sold by and when).

They had a joint bank account and a 2 joint mortgages on seperate properties. They also remortgaged the home for about £100,000.

Irrelevant to the issue of whether they have been missold PPI.

The reason I'm looking into it for them is they are both struggling financially and they have never applied for PPI.

Assuming what you mean is "never complained about PPI". This is more CMC terminology which is designed to confuse people. They will ask you whether you want them to "apply for a refund" on your behalf, because it is more likely to elicit a positive response than asking if you want them to make a complaint for you. However, there is no such thing as applying for a refund. What you are talking about is making a complaint. As Dunstonh says, "applying for PPI" would mean that you want to take a policy out.

What i'm thinking is because they had a joint mortgage this would be a joint claim, but then they have had personal loans each themselves. So would that mean technically they would have to do 3 claims? a personal one each for loans, credit cards etc, and a joint claim for the mortgages they have had.

First things first. Are you even sure they've had PPI? Who was the insured party? Were they missold it? If so, how?

Also how long can the PPI be claimed back from, and my mum and dad aren't great at keeping records, is there a credit report you can get that can go that far back?

You can complaint about PPI from any time, with the caveat that some companies may not have to consider a complaint from pre-2005. Again, though, you need get out of the mindset that you are "claiming back" PPI. What you are talking about doing is making an official complaint.

I was going to try and do the claim myself and save a hefty percentage which some companies may charge.

Any advice really would be appreciated.

Thanks

Joe

If you know you have grounds for complaint then do it yourself. CMCs really do not add any value.

Insider101

joseph9a wrote: »

Would I need to write to the mortgage companies also? I was just wondering why you think there would be little chance of claiming it back against the mortgages?

Would a full credit reports show history of loans and credit cards etc? or does this only go back for a period of time like 10 years or so?

Also would I need to send a document signed by both of my parents to make me the point of contact?

Mortgage PPI is generally a better quality product offering wider cover, better value for money and regular premium. It also covers a much more important debt. Therefore, there is less likelihood of a complaint regarding its sale being upheld.

Credit reports typically only go back 6 years.

If you want to deal with a complaint on behalf of someone else you will need a signed authority to do so. The requirements may vary from one bank to another.

Insider101

Stevie_Palimo wrote: »

I would be 100% sure you get nothing from the mortgage Company but you can try, If the Mortgage Companies had of been forced to pay out redress this would brought the UK to it's knee's and we would be in a worse position than Greece.

I wouldn't say 100% but it's certainly less likely for the reasons listed in my previous post. If a lender has missold their own PPI product then they can be complained about and made to pay out. However, a lot of MPPI was sold by third party brokers, who may not have to consider any pre-2005 complaint.