Argos PPI Reclaim

greatgazza

Hi there

Wondered if anyone here had received a letter from argos regarding reclaiming PPI?

A while ago I paid for an experian credit report as I couldn't remember whether I had or hadn't ever taken out PPI. From that report it seemed like I hadn't taken any out unknowingly and wasn't owed anything. But I guess I didn't remember all the store cards I might have taken out and now this letter has arrived.

It *seems* like they are saying there is a good chance they owe me something as I wrongly had PPI, however, there are two tick boxes and I'm really not sure whether to tick one or both. I *need* to tick the first one but I can't work out whether ticking the second box works for me or against me. I can't really work out what they are asking/saying.

the two tick boxes are:

1) I would like to make a claim for my policy benefits. I understand that by selecting this option only, I am not making a complaint about the sale of the policy.

2) I would like to have my circumstances reviewed and receive any redress I am entitled to.

then on the second page in bold it says:

Please let us know what you'd like to do with your policy by selecting an option(s) on the attached reply slip..... You are able to select more than one option if you want to.

- If you would like to make a claim for the unemployment benefits your policy provides, please tick box 1. Please note that selecting this option on its own does NOT mean you are complaining about the sale of your policy.

- If you would like to complain to us about the sale of your policy please tick box 2.

"You are able both to make a claim for the unemployment benefit your policy provides as well as asking us to review the sale of your policy i.e. by ticking both boxes 1 and 2. If you do this and your claim is paid, then we will reduce the amount of any redress owing to you by the amount of money paid to you due to your claim

Basically I don't understand what they are saying in the last bold paragraph i included and I don't know whether to tick 1, 2 or 1 and 2 and how it will affect anything.

If anyone's still with me I would love some thoughts as I just don't know who to ask that might know this stuff. thanks

QuietOne

Personally I would tick the sale ones. I received compensation for my old Argos ppi about 4 months ago. They sent me a letter saying I may have been mis-sold ppi. I filled it in and about 6 weeks later I received a letter with a cheque.

greatgazza

Great thanks. That's kindof what I was thinking as if you don't tick box 2 you are not actually complaining about being mis-sold the PPI so you are sort of contradicting yourself and saying they haven't done anything wrong? I think it's written in a deliberately confusing way (or perhaps that's just me!)

Do you understand what this means? What do they mean that if you tick box 2 they will take some money off?

"then we will reduce the amount of any redress owing to you by the amount of money paid to you due to your claim"

Nasqueron

greatgazza wrote: »

Great thanks. That's kindof what I was thinking as if you don't tick box 2 you are not actually complaining about being mis-sold the PPI so you are sort of contradicting yourself and saying they haven't done anything wrong? I think it's written in a deliberately confusing way (or perhaps that's just me!)

Do you understand what this means? What do they mean that if you tick box 2 they will take some money off?

"then we will reduce the amount of any redress owing to you by the amount of money paid to you due to your claim"

What you received is known as a CCL, it's a letter to everyone who had PPI to allow the company to activate a time bar for future complaints as they can show you were told about it. It is not an indication of miss-sale, just information.

With a PPI policy the point is that should you lose your job or are unable to work through sickness for example, you claim on it and they pay all or some of your premiums so that you don't get late payments or defaults which harm your credit rating.

What they are saying is that if you want to claim n the policy, you can do so, if you want to complain about the policy you can do so. However, logically, if you had made a claim on the policy, then said the policy was miss-sold, then they will deduct any payments made on the claim from any refund due to the complaint. Some people have made claims on their PPI and then later said the policy was miss-sold so you can't get a double payout. Fortunately for these fraudsters the company running the PPI policy will not come back to you for a return of payments if the claims cost more than the total return of premiums plus interest

greatgazza

Thanks for that.

I never made a claim on any PPI policy i ever had and I was mostly self-employed around that time so it's very unlikely the policy would have been any use to me, isn't that right?

So I am better off ticking both boxes?

Nearlyold

greatgazza wrote: »

Thanks for that.

I never made a claim on any PPI policy i ever had and I was mostly self-employed around that time so it's very unlikely the policy would have been any use to me, isn't that right?

So I am better off ticking both boxes?

The policy may or may not have been of use to the self employed depending on the terms and conditions, it's a bit of a myth that all PPI policies are of no use to the self employed.

No you should not tick both boxes because you are not claiming on the policy you are potentially complaining. (By "Claim" Argos mean have you been or are you off work through illness or unemployment). You should just tick box 2 asking them to review the sale of the policy.

greatgazza

ah ok, thanks. Think i'm *finally* getting my head round this :-)

so if i tick a and b i'm contradicting myself? cos i'm claiming on a policy that i'm then saying was mis-sold?

although I did have periods of unemployment and eventually stopped doing that work, does that make a difference?

thanks all

Nasqueron

greatgazza wrote: »

ah ok, thanks. Think i'm *finally* getting my head round this :-)

so if i tick a and b i'm contradicting myself? cos i'm claiming on a policy that i'm then saying was mis-sold?

although I did have periods of unemployment and eventually stopped doing that work, does that make a difference?

thanks all

Simple way to look at it is this:

If you want to claim on your insurance, you can do so. If the claim pays out, you can't argue the policy was useless or that you didn't want as you just claimed on it.

However, if the policy would not have paid out due to your employment state, then you would complain it was miss-sold as it was of no use.