Advise on PPI claim

LEWI5777

Hi, I really need some advise on PPI claims. Basically my main issue is the forum always say to do the claim yourself as it is financially the best thing to do, I find this very daunting so never do it, think about getting a company to do it for me, think I am wasting (potential) money so don't do it... and so on.

One thing I find really confusing is I think I read on the forum you can only go back 5 years, but a company who contacted me said they can go back 25 years. 5 years would not really help me as I think any money I am owed is probably from quite long ago.

A big issue for me is I had quite a few credit cards and bank accounts/saving accounts over the years and can barely remember the companies let alone the account numbers, so isn't me doing the claim myself basically impossible? The companies who phone me say they can do all this themselves. Is that true at all? If the whole thing is based on me having old account numbers and company names and addresses I don't think it is possible anyway.

If it comes to using a company to do it for me, is there a best choice? I know people say they are all terrible but if one has a better success rate of the lowest charges it may be my best option? Anyone know the best one?

Any advise on any of this would be more than appreciated as I have been stuck in this cycle of not claiming for a couple of years now!

P.S. I am terrible at forms and also worry that if I do it myself I may miss something that a company who has a vested interest in making the claim may not, so might get less by doing it myself anyway.

societys_child

but a company who contacted me said they can go back 25 years

They'll tell you anything to get you sign, and get their commission.

I had quite a few credit cards and bank accounts/saving accounts over the years and can barely remember the companies let alone the account numbers, so is't me doing the claim myself basically impossible?

You would still need to provide the details to the claims company, they don't have a magic wand or crystal ball. You fill in the form they send you, detailing, who, where, when, and your reason for complaint, and they post it for you. That's a very expensive envelope and stamp.

If you can't remember who you had accounts with, the claims company won't know either, that info is not in the public domain.

dunstonh

but a company who contacted me said they can go back 25 years.

Your insurance data and borrowing data is not in the public domain. So, they have no way of finding this information out. It is a lie.
They will take an authority from you to do a credit check. That will show the last 6 years of borrowing. They will write to those providers with speculative complaints. Chances are they are providers you have used over many years. So, the timescale could be longer than 6 years and if you have been with the same bank for decades, you may well have had something from 25 years ago.
The other place they will local is land registry. This wont show if you paid PPI but it will show who your secured loan lenders were. Again, a speculative complaint to them would follow.

LEWI5777

Thanks for the responses. I have been trying to remember and as far as I can I have had a Lloyd's bank account for many years since I was a kid and still have the same account. I had a Nothern Rock savings account, which may have changed to Virgin Money at some point.

My first credit card was with a company called EGG, about 15 - 20 years ago. I think they no longer exist and were maybe bought out. Their ppi claims are now managed by something called Canada square I think. I had a GE credit card sometime after that. I possibly had a credit card from a company called something like mbna (I know that company exists, but I am not 100% certain it was who I had, their logo does not look familiar although it could have changed over the years, are there any other ones with 4 letters starting with M?). And I currently have a Barclaycard. All these credit cards would have followed on one from the other, not several at once, if that would help to follow the trail. Other than my current ones I do not think it is likely I can find account numbers, unless they still have this information and would be willing to tell me.

So I suppose I am wondering which of these you think I could try to claim with? Is it just credit cards, or do current accounts also need looking into? Is it likely that someone like Lloyds or Barclaycard would have taken it in the past, and then stopped when there was a fuss over it? Could they still be taking it now?

Any advice on which of these are worth looking into, all, none or some of them? If it really is just over the last 5-6 years, that probably limits me to Lloyds and Barclaycard, both seem a bit unlikely to me.

Sorry for the long post, any advise or help greatly appreciated!

societys_child

Is it likely that someone like Lloyds or Barclaycard would have taken it in the past, and then stopped when there was a fuss over it? Could they still be taking it now?

I'd notice if someone was taking money from me.

If you pay any ppi on a credit card, it's itemised on the monthly statement, it can't be hidden. Note that cc ppi is only charged on an outstanding monthly balance. No outstanding balance - no ppi charges.

They can't be taking anything, unless it shows on the monthly statement

-taff

Yes, complain about all of them, If you had a card with egg at that time, you may be in the auto tick box online window....Egg are good with records, write to them listing your previous address.

LEWI5777

Thanks, what is the auto tick box online window? Thanks

societys_child

Some online application forms had the option to purchase PPI. This was usually done by ticking a box which had:
'Yes, I'd like Payment Protection' printed against it (or something similar)
In some cases the box was pre-ticked and the applicant had to click to untick it.
The regulator decided that was a bit naughty because computer users are a bit slow witted (apparently)
So an unticked box = good
a pre-ticked box = bad.

Most banks stopped using the tick box and instead offered ppi over the phone when people phoned to activate the card.
Don't use it as a complaint reason unless you're certain it was pre-ticked, it could backfire on you.

[Deleted User]

societys_child wrote: »

The regulator decided that was a bit naughty because computer users are a bit slow witted (apparently)

To be fair, they decided that it was more than a "bit naughty" and financial institutions were prohibited from using this patently unfair practice.
It was little to do with customers being "slow-witted" and more to do with the fact that it was easily missed by anyone.

Being required to opt in is always fairer than having to opt out.

Having said all that, it is important that the OP checks this method of application was definitely in use at the time he purchased PPI.

Sam70_2

Hi,

This is my first time using this forum.

I wonder if any one has had dealings with RCI Financial Services?

I purchased a car from them in April 2004.
I have a copy of the finance agreement which states I was given PPI.
At the time I was not asked. I was told by the salesman to sign if I wanted the finance for the car.

I have been in contact with RCI by telephone and numerous emails,some they reply to some they don't.
I recently sent a letter to them with a copy of the finance agreement. I sent it signed for 1st class.
They have just sent a letter saying now they need to see bank statements.
I am unable to get these as it was more than 6 years ago.

RCI have been incredibilly difficult to deal with me.

Can anyone please help?

With kind regards,

Samantha.

[Deleted User]

Sam70 wrote: »

RCI have been incredibilly difficult to deal with me.

It sounds like you are complaining to the wrong party.

If this was car finance, the liability for any mis-sale of attendant PPI is with the car dealer who sold it to you.

Unfortunately, regulation only began in 2005 for car dealers and so they can reject any complaint on that basis alone.