Halifax Ppi

artlaw

Merry Christmas everybody

Sorry if this has been posted before but it is getting me down. Been trying to reclaim ppi on two halifax loans both paid off but getting no where. I was sold these when I was self employed, on the 2nd one I told the branch advisor I didn't want it as I wouldn't be covered but he said that I couldn't have the loan (which as ever I thought I needed) so I said o.k but I would Cancel before the 30 day cooling off period ended. At this he said if I did that I would have to re-apply for the loan which I wouldn't get without ppi.

It is now 10 weeks after my first letter of complaint and received a letter today stating that they are rejecting my request as even though I was self employed I was still covered.

Does anyone know if this is the truth? Not sure where to go now am considering going to court over it as I am in no doubt that it was mis-sold by an over keen member of their staff who insisted that I have the cover.

Any help or advice would be gratefully received.

honeypop

Hi, I have had the exact same thing with the Halifax. I didn't need the PPI and told them that, then I was told that I couldn't have the loan then.

Halifax responded saying there;sno way that would have been said basically.

They took so long to respond though that I had already contacted the Financial Ombudsman, now they are dealing with it.

You should have got info on the Financial Ombusdman with your response from Halifax, saying contact them if not happy with the outcome. I would follow this up so they can look into it for you.

artlaw

Hi thanks for that. Can anyone tell me if they missold it just on the fact that I was selfemployed .Because the rest is going to be hard to prove. Also which is the best option court FOS or pass it to one of the no win no fee companys. If so can anybody recomend one ?

bathgatebuyer

The FOS should be able to help, but I think they only deal with PPI taken out i nthe recent few years, before that the Courts is the only option (although you'll have to check with someone more knowledgable than me!).

The fact that you were self-employed, that you were effectively forced into the PPI cover as a condition of getting a loan owuld suggest to me that you were mis-sold th policy.

I think the Halifax are a tougher nut to crack than some of the other lenders on here. I'm taking them to court early in the NY as they mis-sold PPI on my credit card and I'm happy to take them to court to resolve it.

cashprincezac

its easy to say to say you were mis-sold---too many are joining the bandwagon--i was glad I took it out after their advice.Come on play fair, just because you never claimed, it seems people are after free money. I think you have a fair point if you claim and its rejected....its insurance, i hate getting car insurance but I have to.

artlaw

I was told that I had to have the PPI policy otherwise I wouldn't be able to have the loan (which I needed at the time). I was also told that if I tried to cancel the PPI the loan would be re-assessed and I probably would have to repay it.

This was told to me by a member of staff of the said bank and therefore at the time I didn't know any different and thought that this person was telling the truth.

It was only when I joined this site and read about claiming PPI that I realised what had happened and that I had been mis-sold PPI as it was actually no use to me.

Unfortunately naive at the time to the immoral ways of these organisations,some people, including me, just went along with what they advised and have only just realised (thanks to Martin and this site) what has actually been going on.

I only posted the thread for help and advice.

cashprincezac

artlaw-I am sre you did it to be helpful--its just annoying when people jump on band-wagons. This PPI was really useful to me

bathgatebuyer

Going by what you've said, Artlaw, it does sound as if you were mis-sold. I work for a major financial institution which has an insurance dept and asked on of their advisors about this. They've suggested that the compulsion element would deem it to be mis-sold as would your employment status at the time. They are required to make sure the product is fit for purpose at the time of sale, if it isn't then you would have a good case.

There's a lot of legal information on a few other websites about this which may be useful for you. A lot of people have been mis-sold and in that respect, there definitely is a bandwagon to jump on!

artlaw

Hi thanks for that Bathgatebuyer. Would you be able to advise where to go next with this, as I have now received a rejection as the final decision from the bank I'm not sure whether to go through the FOS or court myself or whether to try a no win no fee company (they may have more success than me)?

Thanks again

smitchy73

cashprincezac, you have a point in that it was beneficial to you, but did you in fact request the insurance, or was it just 'added' to your loan, and then when you had to claim for whatever reason then you realised you were covered, I don't know many people when arranging a loan for financial difficulties would want to pay an extra £25 - £50 per month just in case they have an accident or whatever, and thats on top of maybe £200 per month in a loan payment, same goes for credit card ppi, my wife has been refused critical illness cover with Hbos but they feel it's okay to cover her for it on the credit card, I think not, this will be in hand after the holidays and the loan ppi has been chased up in January.

cashprincezac

at the end of the day I signed for it and I may be old fashioned but as I signed thats my look out--we seem to be blaming banks for lots of things and whilst I am sure mistakes happen, its very annoying when all we hear about is banks when there are more imoportant issues, like Iraq, the homeless, Maddie McCann etc etc