PPI Claim - HELP

londonerryan

Hi,

I have two friends who believe they were likely mis-sold PPI. One of them has had a few loans and credit cards and says she can't remember who they were all with. I said i'd help them make their claims.

However, i'm not clued up on the matter either...

I've done some research and read some of the 'stickies' on this site plus a few articles such as the following by Martin Lewis and MSE:

http://www.telegraph.co.uk/money/consumer-affairs/martin-lewis-dont-pay-the-middleman-when-claiming-back-ppi/

http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance?_ga=1.35540641.1008188884.1485981813

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance?_ga=1.35540641.1008188884.1485981813

These are the facts: neither of them are sure of where they got their credit cards and/or loans and both are too busy to delve into it. They have no paperwork etc.

They were going to both get a company to do it for them. I told them not to.

These appear to be bits of advice to remember when claiming for PPI:

- If you get rejected at first, continue on with claim anyway.
- You can see your credit files from Experian, Equifax and Callcredit.
- If you know the lender you can ask them for copy of your agreement (for £1).
- If you got a credit card online before 2007, you may have been 'opted in' automatically for insurance.
- If you have been paying off insurance in last 6 years it's easier to reclaim than before the last 6 years.
- If lender has since gone bust you need to contact the Financial Services Compensation Scheme.

So, i have a few questions:


1 - Where should i start?

I presume i put their details into Experian (for example) and find out which loans and credit cards they had? Is that process straightforward?

2 - Once i find out that information, do i then write letters to each company on their behalf? (Using templates i see that are provided on MSE).

3 - If rejected, do i take the cases directly to the Financial Ombudsman or do something else first?

4 - Is all of this better done online, over phone, or by post?

5 - Anything else i need to know?

Thanks a lot for your help! :beer:

-taff

londonerryan wrote: »

These are the facts: neither of them are sure of where they got their credit cards and/or loans and both are too busy to delve into it. They have no paperwork etc.

They were going to both get a company to do it for them. I told them not to.

These appear to be bits of advice to remember when claiming for PPI:

- If you get rejected at first, continue on with claim anyway.
- You can see your credit files from Experian, Equifax and Callcredit.
- If you know the lender you can ask them for copy of your agreement (for £1).
- If you got a credit card online before 2007, you may have been 'opted in' automatically for insurance.
- If you have been paying off insurance in last 6 years it's easier to reclaim than before the last 6 years.
- If lender has since gone bust you need to contact the Financial Services Compensation Scheme.

So, i have a few questions:


1 - Where should i start?

I presume i put their details into Experian (for example) and find out which loans and credit cards they had? Is that process straightforward?

2 - Once i find out that information, do i then write letters to each company on their behalf? (Using templates i see that are provided on MSE).

3 - If rejected, do i take the cases directly to the Financial Ombudsman or do something else first?

4 - Is all of this better done online, over phone, or by post?

5 - Anything else i need to know?

Thanks a lot for your help! :beer:

A company will still expect them to remember who they had credit with.

1 - yes
2 - yes, or use the company's website to complain
3 - yes, FOS
4 - any one of them
5 - You don't need a credit agreement, if the lender went bust and the credt was sold before 2005, they may not be liable dependin gon the company

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance


You need closed account methods, not open, but most of it is as easy as phoning and complaining. If they don't have records, you'll have to resort to a SAR but that depends on who sold it and when, no need to SAR a ompany who sold pre-regulation and wasn't regulated.

Nasqueron

Claims companies do not have access to financial records so still require you to do all the work for them so why pay them to just post a letter off? You can check Experian, Equifax and CallCredit for the last 6 years, beyond that it's just your memory or paperwork - whatever a CMC may lie about, they CANNOT magic up old records or find out who people had credit with.



- If you get rejected at first, continue on with claim anyway - you can go to the FOS if the complaint (not claim) is rejected, it doesn't mean you will win or lose, they judge it on merit and proof (remember, you must prove you were miss-sold, not for the bank to disprove it)

- If you know the lender you can ask them for copy of your agreement (for £1) - no point, they don't have to keep it if the account is closed and it's not needed for a complaint

- If you got a credit card online before 2007, you may have been 'opted in' automatically for insurance - a few lenders did this for a period. You need to establish if this applied, if you just put it on the form and they didn't do this your complaint loses credibility

- If you have been paying off insurance in last 6 years it's easier to reclaim than before the last 6 years - yes because the last 6 years of finance is recorded, accounts closed beyond that may be archived or deleted

- If lender has since gone bust you need to contact the Financial Services Compensation Scheme - if sold after 2005

societys_child

- If you got a credit card online before 2007, you may have been 'opted in' automatically for insurance.

Any banks that had pre-ticked boxes on the application forms, will know when/what dates this occurred (as will FOS).
Note that, if they paid ppi on a cc it would have to be itemised separately on each monthly bill. Though they now have no paperwork, it would have been listed at the time (otherwise the total wouldn't have added up)

londonerryan

Thanks for the advice received so far.

I have set up an Experian account and have credit details for the past 6 years.

I have read this article again and know that my next step is to either use the 'Resolver' tool or print off a template letter to send to companies. http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#resolver

Some more questions:

1 - Does anybody recommend the resolver option over printing out template letters and sending them all off? Resolver seems like an easier option.

2 - One of my friends says she had credit cards dating back (and settled) longer than six years ago. How do i find out which companies she had cards/loans with over six years ago?

[Deleted User]

Use Resolver if you want. It's certainly no better than acting alone, but if it seems more straightforward then you really have nothing to lose. The Resolver company will be pleased to accept your business.

londonerryan

Is the Resolver tool free to use?

I've printed out the PPI customer questionnaire form and am reading it. I don't think my friends for whom i'm doing this will know some of the information it is asking for. For example, how much did they borrow, when did it start, when did it end, the policy number of the PPI etc.

Do all of these details have to be exact? Without the forms in front of you, i don't know how they can be exact.

[Deleted User]

Fill the form in as completely as you can. Any information which is not available can be explained by simply stating "don't know" or "can't remember".

As for Resolver, that's effectively owned by this site and I'm not about to promote it's use. All information about it is easily available, however.

Nasqueron

londonerryan wrote: »

Is the Resolver tool free to use?

I've printed out the PPI customer questionnaire form and am reading it. I don't think my friends for whom i'm doing this will know some of the information it is asking for. For example, how much did they borrow, when did it start, when did it end, the policy number of the PPI etc.

Do all of these details have to be exact? Without the forms in front of you, i don't know how they can be exact.

Resolver is free but they harvest your data (anonymously) to sell to companies to help them improve complaint handling

Just be honest on your complaint form, if you don't remember, don't make stuff up, just say so, or make it clear e.g. "I think they said xyz"

londonerryan

One of my friends says she had credit cards dating back (and settled) longer than six years ago. How do i find out which companies she had cards/loans with over six years ago?

londonerryan

Another question: how do these PPI companies manage to find your details from over 6 years ago? Or do they require their customers to give them exact details of who lent them money?