Paid off a loan early as unhappy with PPI

outa51

Hi, as the deadline approaches any advice appreciated.

Late 2017 I received a phone call from Shane from the Halifax stating that I had PPI attached to a loan, I couldn’t recall asking for PPI but could recall having a blazing row with one of their managers. Had a belated letter in 2018 saying that the PPI not been miss sold. Applied to FSO but that was declined as Halifax had a form with an x in the box. Ombudsman also refuted the claim as I may “possibly” have taken advantage of the facility.

After much detective work and accessing SAR documents, I found the loan to be for 25K over 16 years, secured on property and obtained the RIN. There was an obvious problem as we repaid the loan was in full 15 months later and further loans taken out without PPI.

I was (retired now) in full time employment as a teacher and my wife worked part-time in FE with the usual benefits of redundancy, sick pay etc. The Halifax account was used to separate salaries (in another high street bank) from monies received in rents from a small, registered, student letting business we ran (if any issues arose properties could be sold to release funds).

We had some 7 loans, mortgage/re-mortgage and c/cards with the Halifax, and further loans/mortgages with other providers, but this was the only incidence of PPI.

If I was happy with the product, amounting to an extra 4K on the loan why did I pay back early, the honourable way to get out of a contract, and then take out loans without PPI.

Can I find out if the Halifax employee has been cited in other PPI claims; can I re-apply to the Ombudsman with the new information or go through the small claims court.

Thanking you in anticipation and maybe a little hope.

[Deleted User]

Employees aren't cited in complaints - just the selling procedure, which is what will have been reviewed.

What is the new information you want to present? There doesn't appear to be anything that would change the decision.

FOS is more customer friendly than the courts and much cheaper.

[Deleted User]

outa51 wrote: »

Had a belated letter in 2018 saying that the PPI not been miss sold. Applied to FSO but that was declined as Halifax had a form with an x in the box. Ombudsman also refuted the claim as I may “possibly” have taken advantage of the facility.

You appear to have exhausted the complaint process several months ago. Not sure why you are still "investigating" it?

outa51 wrote: »

Can I find out if the Halifax employee has been cited in other PPI claims

No. Nor would it be evidence that your rejected complaint had any validity. Your complaint was about a selling procedure, not one individual.

outa51 wrote: »

can I re-apply to the Ombudsman with the new information

What "new" information? Your contention that you settled your loan early and then took out other loans is not "new" evidence that your PPI was mis-sold. Certainly, you can present this "evidence" to the Ombudsman. But later taking out other loans merely indicates that your financial circumstances changed and that the loans were cheaper without PPI, a risk you were then prepared to take.

outa51 wrote: »

go through the small claims court.

Any such case would likely be a costly failure, based on what you have said here, I'm afraid...

SonOf

Hi, as the deadline approaches any advice appreciated.

The deadline does not appear to apply to you as you have already complained and had the outcome.

If I was happy with the product, amounting to an extra 4K on the loan why did I pay back early, the honourable way to get out of a contract, and then take out loans without PPI.

One can only speculate or make up reasons as to why you repay loans early. It doesn't matter as your reasons are yours and not something that is proveable.

I was (retired now) in full time employment as a teacher and my wife worked part-time in FE with the usual benefits of redundancy, sick pay etc.

Good reasons on unsecured debt but not good reasons on secured debt.

Can I find out if the Halifax employee has been cited in other PPI claims;

No.
1 - data protection laws wouldn't allow it
2 - general insurance is not retailed by regulated individuals. The individual is irrelevant.

can I re-apply to the Ombudsman with the new information or go through the small claims court.

The FOS will only reopen a case if there is significant new information that will almost certainly change the outcome. You don't meet that standard.

PPI is a regulatory issue and not a legal issue. The FOS are more consumer friendly than the courts. You have failed to persuade the FOS. How do you expect to persuade the courts where you have to meet a higher standard?

outa51

Thanks for the replies - just an itch that I was taken advantage of - in hind sight pleased I pulled out early at a lesser loss.
Thanks all once again.

outa51

The latest newsletter has tickled that itch again, and part of the problems relates to getting appropriate information from the bank in order to meet deadlines - namely

Do you have a joint loan, but the insurance is only in one name?

If you've checked your paperwork and found all names responsible for paying back the loan aren't covered under the insurance – which is unfair in itself as either could be chased for money if you get behind with payments – and you were told or thought that all names were covered,

Had the joint loan with wife (working part time) but the PPI only covered me, if my wife had lost that work and we couldn't afford the repayments the we would have had to sell the secured property, our home - (1) this is a valid mis-selling point as suggested (2) how would I reopen the claim. thanks for your forbearance.

Bermonia

You have already been advised on your other thread... time to move on I’m afraid