PPI - To claim or not to claim?

CurlySue2017
CurlySue2017 Posts: 463 Forumite
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in Reclaim PPI & other insurance
I have recently thought about looking to make a PPI claim, however the accounts involved are very, very old. I have done a lot of reading and decided that a claim company is out - if I do go ahead, I will be doing it myself (with the help of MSE hopefully!).

However these claims would date back to the 90's in some cases and although I can remember the accounts that I have held (mortgages, insurances, catalogue, store cards etc) I do not have any of the paperwork, so no account numbers or any detail at all.

I never thought it would be worth it but after it coming up in conversation recently and me saying that I had a Northern Rock mortgage, with critical illness cover and all kinds of other things thrown in (yep - I was caught out in the "big crash" :( - as well as various accounts over the years, someone mentioned that I should definitely try.

So.....your opinions.....would this be worth me looking into, or am I wasting my time after all these years?
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Comments

  • amersall
    amersall Posts: 17,005 Forumite
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    With no paperwork I doubt the banks will still have this info from over 20 years ago.
    You could just contact the banks in question and ask, you never know.
  • CurlySue2017
    CurlySue2017 Posts: 463 Forumite
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    Thanks, I will probably try....why not!

    The problem is that for example, Northern Rock no longer exists......Could anyone advise where to start in those cases?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    http://www.n-ram.co.uk/ppi
  • dunstonh
    dunstonh Posts: 116,363 Forumite
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    but after it coming up in conversation recently and me saying that I had a Northern Rock mortgage, with critical illness cover and all kinds of other things thrown in (yep - I was caught out in the "big crash" - as well as various accounts over the years, someone mentioned that I should definitely try.

    Critical illness cover is not PPI. Nor is any other insurance that is not PPI (not life assurance, car insurance, travel insurance etc). PPi is a specific product.

    Also, mortgage PPI is still sold today. Unlike loan and credit card PPI (for obvious reasons).

    Most NR mortgages were not sold by NR branches but by estate agents/brokers/advisers. So, if yours was you would not complain to NRAM.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • CurlySue2017
    CurlySue2017 Posts: 463 Forumite
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    dunstonh wrote: »
    Critical illness cover is not PPI. Nor is any other insurance that is not PPI (not life assurance, car insurance, travel insurance etc). PPi is a specific product.

    Also, mortgage PPI is still sold today. Unlike loan and credit card PPI (for obvious reasons).

    I am aware of that, however we were sold a "bundle" (if you will) of financial products that we simply did not need - but being first time buyers, the pressure that is put on you to buy these products at the time made it seem like we HAD to take them.

    Most NR mortgages were not sold by NR branches but by estate agents/brokers/advisers. So, if yours was you would not complain to NRAM.

    So where would I complain then?
  • CurlySue2017
    CurlySue2017 Posts: 463 Forumite
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    Pjam wrote: »
    Hi,

    Apologies. Not sure I'm doing this correctly, as this is a question that I can't seem to find the answer for anywhere. I was in an IVA, which closed/finished a couple of years ago.

    I was contacted by an old credit company that said they have reviewed my case, (all previous PPI monies went towards the IVA - in addition to my monthly contributions) and that monies owing would go to my IVA. Is this correct? Is that it? I have no claim?

    Kind regards,

    Pjam

    Sorry, but could you post your own thread please rather than throwing mine off topic???

    Board Guides - Could this be moved please?
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
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    CurlySue2017 wrote: »
    So where would I complain then?
    To whoever (mis-)sold it to you.
  • dunstonh
    dunstonh Posts: 116,363 Forumite
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    CurlySue2017 wrote: »
    So where would I complain then?

    If its before 14th Jan 2005 then you give up. If its after 14th Jan 2005 then its the estate agent/broker/adviser that you complain to.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • CurlySue2017
    CurlySue2017 Posts: 463 Forumite
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    Right, so according to MSE users - do not use a claim company - it is easy to do yourself.

    So you ask a question about it and get told to give up.

    Typical MSE responses, don't know why I expected any different.
  • dunstonh
    dunstonh Posts: 116,363 Forumite
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    Right, so according to MSE users - do not use a claim company - it is easy to do yourself.

    it is.
    So you ask a question about it and get told to give up.

    It wouldnt matter if you used a claims company or did it yourself, if the case is pre-regulation and the firm was not a member of an earlier body (which is why the banks have to consider earlier dates as they were) then the response would be the same.

    If you bought before 14th January through an unregulated company at point of sale they do not have to consider your complaint. It doesnt matter if you complain using a CMC or yourself.

    Mortgage brokers, IFAs, estate agents, car dealers and many others were not regulated before 14th Jan 2005. So, that date is important as the firm does not need to consider the complaint and you dont get access to the FOS or FSCS.
    Typical MSE responses, don't know why I expected any different.

    So, factually correct answers are not what you were looking for?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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