Blemain and PPI question...

KevinM

I just wanted to ask people who are far more knowledgeable than myself regarding my old Blemain loans, and what my best step forward is to check/claim for PPI...

Firstly, are Blemain particularly awkward for anything to do with PPI? I only ask, as I tried using Gladstone Brookes to put a claim in, but they tell me that they don't support claims for Blemain, so I wondered if any Blemain claims are unlikely to succeed for whatever reason...

Anyway, I took 3 secured loans out, via brokers, back in the early/mid 2000s

I have all 3 account numbers, but when I spoke to Blemain (TogetherMoney) they told me on the telephone that none of the loans had PPI...

Does that mean I didn't for 100% definite have PPI, or could the fact that I took them out via brokers be masking PPI?

The brokers I used were Assured Loans (for 1 loan) and Phone-A-Loan (for 2 loans)...

I believe I paid them off early, and so would this fact also have an effect on any PPI I might have had?

Would it be possible that even though Blemain said I didn't have PPI, that PPI might well have been on them? Did Blemain, back in the day, not have a system in place where they basically had PPI on everything irrespective?

Anyway, is there a step forward that anyone can recommend please? or should I simply take Blemain's word for it, and call it a day on these secured loans?

Appreciate the help...

Kevin

[Deleted User]

It sounds as if you're complaining to the wrong entity.

If a broker sold the policies to you, you need to complain to the broker.

You've dodged a bullet by having Gladstone Brooks turn you down. Make sure you don't ask any more claims companies - you may not be so lucky next time.

KevinM

Ah, so is it definitely the case that any PPI claims I make should always be through the broker that I used (i.e Assured Loans or Phone-A-Loan) and NOT the money provider (Blemain)?

Are PPI claims against brokers ever successful? Is it worth looking into?

I am not even sure if Assured loans or Phone-A-Loan still exist...

Thanks

[Deleted User]

PPI complaints are successful where there is evidence of mis selling.

But they always need to be made against the seller, as that's who sold it.

[Deleted User]

KevinM wrote: »

Are PPI claims against brokers ever successful?

Indeed they have been, but your problem is that your finance was pre-regulation of insurance sales (January 2005) and if the broker has ceased trading there is no one to complain to in any case.

In addition, you appear to not even know if you had PPI...

KevinM

Moneyineptitude wrote: »

In addition, you appear to not even know if you had PPI...

I would think that I am the same boat as many, many people, in respect to not knowing if I had PPI...

That is simply what I am trying to find out (initially)...did my loans actually have PPI?

It seems to me that lessons have been learned (by me) in that it sounds like it is not a good idea to go through a broker for anything, as brokers come and go on a regular basis, and if there is a problem, and the broker has gone, there is no one to ask/complain to...

Whereas if you get a loan direct, the actual finance companies tend not to disappear...if anything, they simply merge, so there will (nearly) always be someone who takes over the company and its accounts...

Moneyineptitude wrote: »

but your problem is that your finance was pre-regulation of insurance sales (January 2005)

As far as the Blemain/Broker loans go, I will just need to check the other two, but one of them to Blemain (via broker) was for £50,000 taken out in July 2006, and redeemed in July 2007, so presumably post regulation...

Thanks

[Deleted User]

KevinM wrote: »

but one of them to Blemain (via broker) was for £50,000 taken out in July 2006, and redeemed in July 2007, so presumably post regulation...

So you need to establish (first) via this broker whether you had any PPI. If so, you must then decide how this insurance was mis-sold to you. The complication will be if the broker is no longer trading and you have no evidence of PPI because that will preclude you referring to FSCS.

Nothing wrong with brokers, by the way. In fact you will have had far less chance of being mis-sold anything by using a broker.