PPI - Resolver questions

GlassFull

Apologies if this question has been asked already but I am totally new and ignorant to all of this.

I’ve had over 10 creditors in the past so I thought there’s no harm looking into if I’ve been mis sold PPI. Over the past 10 years I’ve cancelled most of those credit cards, store cards and catalogues, mainly due to the interest charges and a change in circumstances.

During those 10 years and in my previous job, I was suspended twice on full pay (very risky job, I made a H&S error). I won the first one but lost my job the second time round and was out of work for approximately 9 months. I struggled to pay off my cards during this time as I was jobless and skint, that’s when the interest started accruing.

6 years later and in my current job, I was off with stress twice, the second time I was only getting statutory sick pay and couldn’t pay my cards at all. I asked one of the catalogues to freeze all interest and BNPL payments but they refused. I told them I was off sick and was earning any money, but they didn’t care. The second time I called the advisor couldn’t understand why the previous caller gave me false information, they could’ve done something after all but he allowed the interest to go on.

I’m going to try and use Resolver to see if I have any PPI, but I’m struggling with some of the questions.

Most of my answers to questions such as: “Did the financial institution give you any advice or recommend that you take out this insurance?” and “What is the current situation with the insurance?” Will be a “I can’t remember” or “I don’t know” will this go against my chances?
“Have you ever missed a payment or gone into arrears on the loan or credit?” – I have gone into arrears many times over the years, will this be used against me?

Why do they need to know where I was working at the time and for how long? And why do they need to know about my sickness absence? Will providing this information work in my favour or against me? I’m not planning on leaving off any information but if this will be used against me I may not bother making the application.

Are there any tips on filling in this questionnaire, or anything I shouldn’t disclose? Is it best I use Resolver or send a letter myself?

Thank you for your advice. I am completely alien to all of this!

[Deleted User]

Just ask directly if you had PPI, don't use Resolver.

Did you become bankrupt last year?
https://forums.moneysavingexpert.com/discussion/comment/74176257#Comment_74176257

If you did, forget about PPI refunds as they now belong to the Official Receiver.

If you are instead in a Debt programme, any PPI redress would be off set against monies you owe.

GlassFull

Thank you for your reply Moneyineptitude.


I opted for a debt relief order instead. Is there no point in me trying? I understood I only have to contact them if I get over £500? I am probably wrong though!


If I call the creditors and ask them if I've had PPI, are they obliged to tell me?

[Deleted User]

GlassFull wrote: »

If I call the creditors and ask them if I've had PPI, are they obliged to tell me?

Only if they have records..

-taff

If you owe money to any of these companies from amounts written off or in arrears, and successful complaint will see that applied too the debt first.
Having the debt written off is not the same as having it cleared.

kingfidget

Moneyineptitude wrote: »

If you are instead in a Debt programme, any PPI redress would be off set against monies you owe.

I have often wondered about this. I foolishly and irresponsibly got into a lot of debt with credit cards and a consolidation loan, all of which had PPI. My debts were frozen and my creditors agreed to my IVA proposal - this has been going on for over ten years now.


One of my colleagues has been encouraging me to try reclaiming and he has suggested the CMC that sorted him out. I appreciate that any payout I receive would be applied to my debts (which is fair enough) but I might then have to pay the CMC fee, which I might not be able to afford.


The calls I've received from the CMC tell me this isn't the case but I'm very wary nonetheless.


I've never really considered doing it myself. To be honest when I think back to that time in my life I prefer to keep the memories locked in a box and still embarrassed and awkward when the topic comes up.

[Deleted User]

Whatever you do, don't use a claims company. Its sucker and easier to do it yourself.

You can always just send some money to a claims company of your choice afterwards if you still feel you have some to spare. It at least you won't have gone through the stress of dealing with them.

kingfidget

Deleted_User wrote: »

Whatever you do, don't use a claims company. Its sucker and easier to do it yourself.

You can always just send some money to a claims company of your choice afterwards if you still feel you have some to spare. It at least you won't have gone through the stress of dealing with them.

Haha, no, thank you. I was always under the impression they made life easier though my impression is based on a couple of colleagues (who used different CMCs I believe) so not exactly a true representation.


Sorry to keep bouncing this thread up but I've just remembered that of the six financial instruments I had with PPI, four of the debts were sold on to third party collection agencies (Cabot and Wescot mainly). Does this affect who I approach to try reclaim PPI from? I assume not and I still write to the original lenders.

[Deleted User]

Yes. You write to whoever sold you the policy

kingfidget

Deleted_User wrote: »

Yes. You write to whoever sold you the policy

Thank you.

[Deleted User]

kingfidget wrote: »

One of my colleagues has been encouraging me to try reclaiming and he has suggested the CMC that sorted him out. I appreciate that any payout I receive would be applied to my debts (which is fair enough) but I might then have to pay the CMC fee, which I might not be able to afford.

If you approach a CMC and tell them that your debt has all been sold on, they should now refuse to represent you. Prior to regulation last year you would indeed have been liable for the entirety of their fee, even if you received nothing personally.

Realise that Claims Management Companies do nothing you cannot do alone and for free, regardless of your circumstances...