PPI Reclaiming discussion Part II

di3004

Sorry to but in here folks........:o .

I am curious on this but as from sometime in 2005 if taking out a payment protection insurance with a loan or whatever, are they supposed to be on separate agreements anyway? okay mine wasn't but I am sure I did actually read something on this some time ago

tiggrae

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.

hi it could be who ever originally owned the policy has sold it onto another company, however, it is irrelevant who the insurer is it's the person who 'sold' you the policy who is liable for the mis selling - if they are no longer in business (ie the company has been dissolved or they've ceased trading) then you wouldn't be able to commence proceedings as there is no one to start proceedings against

marshallka

tiggrae wrote: »

hi it could be who ever originally owned the policy has sold it onto another company, however, it is irrelevant who the insurer is it's the person who 'sold' you the policy who is liable for the mis selling - if they are no longer in business (ie the company has been dissolved or they've ceased trading) then you wouldn't be able to commence proceedings as there is no one to start proceedings against

That is sooo wrong. What about section 75 CCA???

marshallka

di3004 wrote: »

Sorry to but in here folks........:o .

I am curious on this but as from sometime in 2005 if taking out a payment protection insurance with a loan or whatever, are they supposed to be on separate agreements anyway? okay mine wasn't but I am sure I did actually read something on this some time ago

About separate agreements as from May 2005.

How to tell if you have a single premium policy?
This type of policy is mainly sold with loans rather than credit or store cards. If it’s a single premium policy, the original paperwork will show the insurance as a fixed lump sum amount.
If the agreement was after May 05, you would have been asked to sign a separate agreement so you should have extra paperwork for the loan and the insurance.
It’s also noteworthy that these policies are often only valid for five years max; even if your loan term is longer, so you could get a five year policy but end up paying interest on the insurance for the full loan term! If you didn’t realise your cover only lasts / lasted for five years read the general mis-selling section for more info

tiggrae

marshallka wrote: »

That is sooo wrong. What about section 75 CCA???

don't think it's a consumer credit agreement - ie if it's not a loan but a straightforward monthly payment for insurance it won't be covered

di3004

marshallka wrote: »

About separate agreements as from May 2005.

How to tell if you have a single premium policy?
This type of policy is mainly sold with loans rather than credit or store cards. If it’s a single premium policy, the original paperwork will show the insurance as a fixed lump sum amount.
If the agreement was after May 05, you would have been asked to sign a separate agreement so you should have extra paperwork for the loan and the insurance.
It’s also noteworthy that these policies are often only valid for five years max; even if your loan term is longer, so you could get a five year policy but end up paying interest on the insurance for the full loan term! If you didn’t realise your cover only lasts / lasted for five years read the general mis-selling section for more info

Arh this is it what I did read before, cheers.;)
I cannot remember me or hubby signing for a separate agreement , even though it was a single ppi .

marshallka

tiggrae wrote: »

don't think it's a consumer credit agreement - ie if it's not a loan but a straightforward monthly payment for insurance it won't be covered

Ahh, right, never thought of that;) It was £1500 and payable monthly is all we know i think.

Looking on paysafe info now it says ""this is a monthly contract which will be renewed as long as the premium is paid...""

There is really nothing the manager can do then??

tiggrae

marshallka wrote: »

Ahh, right, never thought of that;)

There is really nothing the manager can do then??

all depends upon whether the broker or his company is still in business or not !! Going to court costs money, not to mention the time and effort to complete the particulars - if the company you've got a complaint against is out of business then it would be throwing good money after bad

amtrakuk

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.

Sorry peeps.

After phoning HFC I soon remember I consolidated the loan against my morgage last year after HFC said the account is closed. Do I still have a PPI claim for the period i had the loan with them?

tiggrae

amtrakuk wrote: »

Sorry peeps.

After phoning HFC I soon remember I consolidated the loan against my morgage last year after HFC said the account is closed. Do I still have a PPI claim for the period i had the loan with them?

yes you can