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  • FIRST POST
    Former MSE Rose
    PPI Reclaiming Discussion Part 5
    • #1
    • 28th Feb 12, 3:40 PM
    PPI Reclaiming Discussion Part 5 28th Feb 12 at 3:40 PM



    Hi all, this thread is for discussing the
    PPI Reclaiming
    article.

    This is Part 5 of the discussion, as the last one was so long (read parts one, two, three and four). To discuss or ask a question about this article, click 'post reply'.

    To read about non FOS claims read this thread.
    Report and read success stories in this thread
    .

    Please remember:

    We're often quite laid back about discussion threads as this is a community after all.

    I'm afraid in the case of the PPI Reclaiming thread we're really going to have to ask you to keep the discussion on topic though, so that people can find the relevant information quickly and easily.

    If you do start making like-minded friends on here and would like to carry on chatting about what you did at the weekend/what you ate for dinner etc, that's fine, but the best way to do that is to go to our local pub the MoneySavers Arms where anything and everything is chatted about, start a thread there, then pop a link in here and suggest you all head over to there to chat.

    Thanks,

    MSE Rose
Page 532
    • antrobus
    • By antrobus 12th Jul 19, 1:40 AM
    • 16,766 Posts
    • 23,736 Thanks
    antrobus
    ...
    I took out a Mortgage in 2003 and have all documentation / bank statements to back up the following:

    I was required to take out mortgage insurance with my repayments from day 1 of the mortgage. This was set at around £13 per month. This seems to be your classic PPI.
    Originally posted by Taranis Exe
    More likely a case of your classic life insurance,

    I was also talked in to taking out Accident and Sickness cover. I said at the time that I was fully employed, any sick leave would be paid and & I had the luxury of parents who could potentially support me or (at worst) take me back home if everything collapsed. They still persuaded me I needed A&S cover. This was paid separate to my mortgage payment at around £25 per month. To my shame I lost track of this and, even though I changed my mortgage provider in 2006, I continued to pay this until 2010 without any further communication from Halifax. Further the level of my repayments was now well below the amount that this policy covered. Is this also part of a PPI claim / something different / ďidiot taxĒ (I.e. not recoverable)?
    Originally posted by Taranis Exe
    Accident and Sickness cover is basically another name for PPI. Having (say) six months sick pay is not regarded by the FOS as a valid reason for a mis-sale, and I expect they would take the same view regarding parents who could have 'potentially' helped.

    There is nothing idiotic about protecting your mortgage repayments in this way, It meant that 'if everything collapsed' it would have paid your mortgage and you would not have been forced to move back to mum and dad's.

    Where it gets even more complicated, I have only just noticed (no judgement please) that my monthly mortgage payments totalled around £15 more that the stated fixed repayment + mortgage insurance (the £13 stated initially). I have no idea what this difference relates to and, in fact, it increased to a £24 difference within 12 months (within my 24 month fixed term). I admit I should have noticed this at the time but I was in my 20ís, single, had a good job and faith in the banking system, so honestly didnít notice the difference. Can anyone shed any light on this. Is it potentially part of a PPI claim?

    ....
    Originally posted by Taranis Exe
    Nope. I suggest you ask your lender.
    • SonOf
    • By SonOf 12th Jul 19, 8:48 AM
    • 796 Posts
    • 947 Thanks
    SonOf
    I was required to take out mortgage insurance with my repayments from day 1 of the mortgage. This was set at around £13 per month. This seems to be your classic PPI.
    Not necessarily. Most people take out life assurance on mortgages. Far more than take out MPPI. It could be life assurance.

    I was also talked in to taking out Accident and Sickness cover. I said at the time that I was fully employed, any sick leave would be paid and & I had the luxury of parents who could potentially support me or (at worst) take me back home if everything collapsed. They still persuaded me I needed A&S cover. This was paid separate to my mortgage payment at around £25 per month.
    Now that sounds more like PPI. Although it could also be PHI based on the limited info we have here.

    It is good to see it was set up correctly with a monthly standalone premium. That is how good PPI should be set up and one of the reasons why most MPPI complaints fail.

    Is it potentially part of a PPI claim?
    You don't appear to have given any valid reason for complaint.
    • luckwudaveit
    • By luckwudaveit 12th Jul 19, 12:16 PM
    • 248 Posts
    • 90 Thanks
    luckwudaveit
    I made an enquiry with PPI Reclaim and after several weeks they have emailed saying I had PPI with a bank I recognise as having an account with but not a loan, which they claim I did. There is a link in the email which it says I should click to complete the form. I'm on holiday at the moment so can't hover over the link, but is this a normal process to go through? I'm wary about following the link.
    • zx81
    • By zx81 12th Jul 19, 12:22 PM
    • 23,311 Posts
    • 25,860 Thanks
    zx81
    I wouldn't believe anything a claims company tells you. And I'd certainly never click on a link from them.

    If you believe you have a complaint to make, make it directly to the lender.
    • V-Dubstar
    • By V-Dubstar 12th Jul 19, 4:22 PM
    • 4 Posts
    • 1 Thanks
    V-Dubstar
    Had a 3 year limit to make a claim, is this normal?
    Hi there,

    Sorry if this has been covered before - a little overwhelmed by the sheer amount of posts here!!

    So I made a claim (with a third party) back in September 2016. The result of the claim was rejected, based on that MBNA apparently sent me a letter (dated July 2013) stating that the letter they sent me "explained that if they had any concerns about the sale of their PPI, they should contact us within the next three years.

    As the complaint was not referred to MBNA within the three years we are rejecting the complaint. This is because the complaint was not referred to MBNA within the time limits set out by the industry regulator, the Financial Conduct Authority (FCA). You will find these time limits in the FCA handbook under Dispute Resolution rule 2.8.2."

    Is this a common occurrence with people trying to claim? It did say that if I had exceptional circumstances then they may reconsider the decision. I tried speaking to the third party company a couple of times saying that I was all over the place at that time (split up with long term partner, started a new job working away all Summer etc) so I'm not even sure I read that letter?? They never got back to me so I just dropped it. I ended up getting a cheque based on the Plevin situation for £29, I never cashed it in as I thought it was a bit of an insult (and possibly admitting a payout?)

    They tried ringing me this week and I've just spoken to them, it was regarding sending a new cheque out because I never cashed it.

    My main point is however, are they allowed to give me a deadline of 3 years to make a complaint/claim?

    Thank you for reading!
    Chris
    • zx81
    • By zx81 12th Jul 19, 4:30 PM
    • 23,311 Posts
    • 25,860 Thanks
    zx81
    Yes. You're time-barred for the complaint (though not necessarily for a claim).

    You've also of course time-barred yourself, since you're out of time to go to FOS.

    If you want the money, cash the cheque, If you don't, just shred it.
    • V-Dubstar
    • By V-Dubstar 12th Jul 19, 4:33 PM
    • 4 Posts
    • 1 Thanks
    V-Dubstar
    Yes. You're time-barred for the complaint (though not necessarily for a claim).

    You've also of course time-barred yourself, since you're out of time to go to FOS.

    If you want the money, cash the cheque, If you don't, just shred it.
    Originally posted by zx81
    Thanks for your quick response, and yes I realise I should've gone to the FOS straight away - time just went by and I forgot about it - story of my life.

    Can I make a new claim now and attempt it again, and then potentially go through FOS if and when they reject it, or would I be wasting my time?
    • zx81
    • By zx81 12th Jul 19, 4:43 PM
    • 23,311 Posts
    • 25,860 Thanks
    zx81
    No. You've made your one complaint. It's now closed.
    • V-Dubstar
    • By V-Dubstar 12th Jul 19, 4:51 PM
    • 4 Posts
    • 1 Thanks
    V-Dubstar
    Ah, ok then. Thanks for your help, lesson learned!
    • shakester9
    • By shakester9 16th Jul 19, 6:50 PM
    • 1 Posts
    • 0 Thanks
    shakester9
    endownment PPI
    hello people, this is my first post.
    i have used a company to try and recover PPI as i discovered from paperwork i dug out that a failing endownment policy i had was never going to pay off my mortgage borrowing,
    I was staggered that when I looked into the policy a unbelievable amount was paying for payment protection that I had no clue.
    After promisimg feedback from the recovery company, i was told that unfortunately the onsbudsmans department had decided against my case.
    I am obviously dissapointed, yet confused.
    My morgage was taken out with Abbey National..now Santander
    And the endownment was taken out with Norwich Union...both in 1999
    does anyone have any information that could put my mind at rest

    Regards Graham
    • zx81
    • By zx81 16th Jul 19, 6:52 PM
    • 23,311 Posts
    • 25,860 Thanks
    zx81
    Yes.

    It probably wasn't mis sold (not much MPPI was), so put it out of your mind and move on.
    • SonOf
    • By SonOf 16th Jul 19, 7:34 PM
    • 796 Posts
    • 947 Thanks
    SonOf
    i have used a company to try and recover PPI as i discovered from paperwork i dug out that a failing endownment policy i had was never going to pay off my mortgage borrowing,
    I was staggered that when I looked into the policy a unbelievable amount was paying for payment protection that I had no clue.
    Endowment policies cannot have PPI on them.

    The only options on an endowment policy was the compulsory life assurance (required to make them an endowment) with optional critical illness cover, terminal illness cover (later ones would have this as non-chargeable but early ones may have charged) and waiver of premium.

    None of which are PPI.

    After promisimg feedback from the recovery company, i was told that unfortunately the onsbudsmans department had decided against my case.
    CMCs always want to tell you rubbish to get your business. However, based on the very limited info you have given, its not a surprise it failed if you are mixing up an endowment policy with PPI.
    • isheff2602
    • By isheff2602 16th Jul 19, 9:24 PM
    • 2 Posts
    • 0 Thanks
    isheff2602
    Good evening, can I ask for some advice - I've been thinking about claiming PPI/money back from Debenhams etc. However the Company I contacted said as I was discharged from Bankruptcy 10 years ago any money I was successful in getting back would need to go back to the Official Receiver AND I would have to pay the Company fees they incurred in getting any money back from me.


    Anyone know if this is correct - or is it just scare tactics to put me off from claiming - particularly as the people I would be trying to claim from were not part of my bankruptcy process? The idea of not getting any money back AND having to pay fees - understandably had stopped me from doing anything. Thank you
    • zx81
    • By zx81 16th Jul 19, 9:26 PM
    • 23,311 Posts
    • 25,860 Thanks
    zx81
    It's correct if the assets pre-date your bankruptcy.

    It's very surprising that a claims company was honest with you, even now they're regulated.

    Why do you think they would use scare tactics to prevent you complaining?
    • isheff2602
    • By isheff2602 17th Jul 19, 6:23 PM
    • 2 Posts
    • 0 Thanks
    isheff2602
    Not sure to be honest - thought it might be too much extra effort if the Official Receiver was involved but as you say the Assets - although none of the items I was thinking of claiming PPI for were part of the bankruptcy process they were pre the bankruptcy process - so it wouldn't be applicable.
    • Sazbee1974
    • By Sazbee1974 20th Jul 19, 4:48 PM
    • 7 Posts
    • 3 Thanks
    Sazbee1974
    I have a question regarding miss sold ppi on a sainsbury loan. Iíve searched on here and canít see the answer. Iíve visited the Sainsburyís financial website and canít see any information on reclaiming miss sold fees like there is on other websites so Iím not sure how to go about this. Is it possible that it was provided by another bank under the name of Sainsburyís. When I recently made a claim for miss sold ppi with Barclays and it asked me to choose the product on the drop down menu there was a whole list of different companyís on there not just Barclays. Unfortunately due to a mass clear out of paper work a few years back I have no records of anything but I remember ringing them a a couple of years into the loan to cancel the ppi as it had been added without my knowledge and I only realised when the annual statement arrived. Many thanks in advance
    • Moneyineptitude
    • By Moneyineptitude 20th Jul 19, 5:19 PM
    • 24,390 Posts
    • 13,906 Thanks
    Moneyineptitude
    although none of the items I was thinking of claiming PPI for were part of the bankruptcy process
    Originally posted by isheff2602
    It doesn't matter, any such PPI redress is still a pre-bankruptcy asset which belongs to the Official Receiver for redistribution to your former creditors. A Claim Company would not use "scare tactics" to put you off complaining since they stand to lose their cut of the redress. They are telling you this because they are required to.

    Regardless, if you made a complaint and were successful the money would not come to you.
    • Moneyineptitude
    • By Moneyineptitude 20th Jul 19, 5:22 PM
    • 24,390 Posts
    • 13,906 Thanks
    Moneyineptitude
    I have no records of anything
    Originally posted by Sazbee1974
    I doubt you'll be able to advance this without knowing even who your loan was with...
    If you are sure it was Sainsbury's you could send them a Subject Access Request (SAR) to see if they have any record but, since they have four weeks in which to respond, that will be VERY close to the deadline of 29th of August. So make haste...
    Last edited by Moneyineptitude; 20-07-2019 at 5:25 PM.
    • countingthepennies
    • By countingthepennies 23rd Jul 19, 8:52 PM
    • 110 Posts
    • 323 Thanks
    countingthepennies
    Hi. Just a quick query regarding claiming PPI for a deceased relative. My dad passed away in 2012. I think the only loan he ever had in his life was with Lloyds bank in the 1980's, when he became self employed and needed to buy some expensive equipment. Unfortunately I don't have a bank account number or any of the paperwork. Because it was in the 1980's is that too far back to contemplate looking into?
    • sjp1966
    • By sjp1966 24th Jul 19, 11:45 AM
    • 82 Posts
    • 12 Thanks
    sjp1966
    Ive made a claim from my main bank but I am sure that I had other loans through other lenders in the past (this is all way past 6 years ago)

    Rather than me write a letter/contact to every lender under the sun, is there a way to simply provide my name, any addresses (would only be 2 or 3 in my case) and then find out what loans I had?

    ALSO, I know my Dad had loans in the past for car etc, he sadly passed away but i read that you can still claim, my mum is still around but unable to use a computer or anything, how could she go about checking if my dad had loans with PPI attached?

    Thanks


    Steve
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