PPI Reclaiming discussion Part II

di3004

Just thought I would add this in case you are not aware of this.

Tonight on Channel 5 with our "Martin Lewis" here, there's a programme called
"It pays to watch".

Martin offers tips on surviving the Credit Crunch.:j .

tiggrae

naitch1980 wrote: »

Can anyone tell me if they know of anyone who has had their PPI back from EGG?
I took out an Egg loan in 2003 - I can't remember the details, but I have sent a letter requesting a copy of the agreement - And I'm thinking that within that timescale, it is likely that I was missold the PPI to a degree?

I was employed, no poor medical history, I'm not sure if it was a single premium, I'm pretty sure I was told that I wouldn't get the loan unless I got PPI, but I can't see how I can prove it.

In fact, I also recall trying to cancel my PPI and being told I would need to get a new loan in order to do so, to take on the total amount remaining to pay off. Is that even legal?
Should I still try and cancel it now?

Basically, I haven't got a clue!

you can make a claim for mis selling by following the outline on the ppi forum. As to the question of cancellation, yes they can request you take a 2nd loan but it has to be at the same interest rate as you were on previously, but the best thing to do is to start your claim for mis selling

tiggrae

marshallka wrote: »

Tiggrae, in the posts it says that they did not want to cancel the insurance (after forgetting it still existed) as they thought it would muck up the claim. Thats how i understood it.

Also its a third party that sold the ppi???

what I'm saying is if you've made a claim for mis selling and they ask you if you want to cancel the insurance and you say no, then if you try to persue through the courts it looks legally as though you are saying you wanted to keep the insurance, therefore, it couldn't have been mis sold, otherwise why wouldn't you cancel it when asked - remember you're up against top paid lawyers and that's certainly how I would interpret it if I was representing a defendant against mis selling

marshallka

tiggrae wrote: »

what I'm saying is if you've made a claim for mis selling and they ask you if you want to cancel the insurance and you say no, then if you try to persue through the courts it looks legally as though you are saying you wanted to keep the insurance, therefore, it couldn't have been mis sold, otherwise why wouldn't you cancel it when asked - remember you're up against top paid lawyers and that's certainly how I would interpret it if I was representing a defendant against mis selling

But then i would be representing the claimer in that they were scared that it would jeopodise the claim. No really, i see where you are coming from but i also see where the manager was coming from. I would be a "nice" judge.;)

Small claims courts should not be that formal really and they should understand that often the person making the claim is defending themselves and has no legal training. They should not have to fight "top paid lawyers" in a "small claims court" in an ideal world.

tiggrae

The_Manager wrote: »

Thanks for this input.

I also believe that I need to go after the 3rd party intermediary on this one. The mortgage ended around May/June this year when we moved house and changed lender to C&G.

I did not cancel as where there are 2 parties to the agreement (myself and Cardif Pinnacle), I did not want to risk upsetting my own side of the agreement by cancelling it. That's the theory anyway.

I believe that this payment to Cardif Pinnacle is still going out of my bank to this day, but will have to check. The policy number with Cardif Pinnacle is the same as the mortgage account number with Northern Rock.

I only started pursuing this issue in the autumn of last year when I heard Martin talking about PPI on the radio. Prior to this, I had no idea that this PPI was voluntary - it had been sold to me in 2000 on the grounds that the mortgage would be unavailable to me without it, so I had assumed that it was a necesity.

did you say the broker who sold it to you has retired - is the company he worked for still operating or was he an independant ?

amtrakuk

Hi there.

I have been meaning to get this stone rolling ever since seeing the article Martin did on tele.

I have done the Bank Charges claim and was successful so know the agro that goes with these things.

I have took out a home owner loan with "Household Bank" on 29th May 2003 for £11,00.00 (inc Admin charges) paying back over 84 monthly payments (7 years). The loan was made up from a previous loan (£2444.80 plus, £8355.20) on a "HFC Bank Account", as described on the Secured Personal Loan Plan.

Obviously I was present when taking out the loan and I was advised they could increase my loan if I took out the payment protection. At the time I though it prudent to do as 7 years is a long time.

Looking through the paperwork I found a form titled "Homeowner Loan Payment Protection Insurance" tick boxes include "Have I suffered any illness of disability that has kept me off work for more than 4 weeks" etc.

I am assuming the insurance premium is bundled with the loan payments as I am only paying one Direct Debit, not one for the loan and one for the insurance.

I've looked through the paperwork but there is no mention on how much of the loan is for the payment protection or any other figures. Am I still able to claim? How do I work out how much I am entitled to?

Thanks in advance.

wayne

hi di,thanks for the reply but i,ll have to let it go for now.got bigger things to worry about at the moment.thanks for all the advice and i wish you well.

The_Manager

tiggrae wrote: »

did you say the broker who sold it to you has retired - is the company he worked for still operating or was he an independant ?

He was an independent I believe.

He may be retired - I'm sure he was getting on a bit when I met him 8 years ago. He's certainly still alive as he's replied to a couple of my letters on this claim. He continues to state that he's never heard of Cardif Pinnacle, which sounds like an out-and-out lie to me. How could someone in that trade have not heard of an organisation of that size? He states in one of his letters that he does (or did) a lot of work on behalf of Albany Life.

There's one more peculiarity in this - the original policy was not with Cardif Pinnacle. It was with either Norwich Union or C&G (nobody knows which) and Cardif Pinnacle took over the PaySafe scheme from the originators within just a few months of me taking out the policy. However, as stated already, I have been paying Cardif Pinnacle for a long time.

marshallka

amtrakuk wrote: »

Hi there.

I have been meaning to get this stone rolling ever since seeing the article Martin did on tele.

I have done the Bank Charges claim and was successful so know the agro that goes with these things.

I have took out a home owner loan with "Household Bank" on 29th May 2003 for £11,00.00 (inc Admin charges) paying back over 84 monthly payments (7 years). The loan was made up from a previous loan (£2444.80 plus, £8355.20) on a "HFC Bank Account", as described on the Secured Personal Loan Plan.

Obviously I was present when taking out the loan and I was advised they could increase my loan if I took out the payment protection. At the time I though it prudent to do as 7 years is a long time.

Looking through the paperwork I found a form titled "Homeowner Loan Payment Protection Insurance" tick boxes include "Have I suffered any illness of disability that has kept me off work for more than 4 weeks" etc.

I am assuming the insurance premium is bundled with the loan payments as I am only paying one Direct Debit, not one for the loan and one for the insurance.

I've looked through the paperwork but there is no mention on how much of the loan is for the payment protection or any other figures. Am I still able to claim? How do I work out how much I am entitled to?

Thanks in advance.

This is strange. Did you definately take out the insurance as there are not any details of it on the agreement. On mine it states amount of loan and then PPI below etc.??

Was the PPI a seperate agreement??

marshallka

The_Manager wrote: »

He was an independent I believe.

He may be retired - I'm sure he was getting on a bit when I met him 8 years ago. He's certainly still alive as he's replied to a couple of my letters on this claim. He continues to state that he's never heard of Cardif Pinnacle, which sounds like an out-and-out lie to me. How could someone in that trade have not heard of an organisation of that size? He states in one of his letters that he does (or did) a lot of work on behalf of Albany Life.

There's one more peculiarity in this - the original policy was not with Cardif Pinnacle. It was with either Norwich Union or C&G (nobody knows which) and Cardif Pinnacle took over the PaySafe scheme from the originators within just a few months of me taking out the policy. However, as stated already, I have been paying Cardif Pinnacle for a long time.

Lots of info on paysafe scheme here

http://66.102.9.104/search?q=cache:lATkF32hoUoJ:www.northernrock.co.uk/downloads/paysafe_policy_document_161107.pdf+PaySafe+scheme&hl=en&ct=clnk&cd=4&gl=uk


Also it does say in this document about Cardif pinnacle.
Cardif Pinnale is a trading style of Pinnacle Insurance plc
Page 12
This booklet is evidence of the terms and conditions of
the group policy 02272 (1st June 2007), underwritten by
Pinnacle Insurance plc.
Head
and
Registered
office:
Pinnacle
House,
A1 Barnet Way, Borehamwood, Hertfordshire WD6 2XX
P2754v2 30/10/2007
MAR 865