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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 542
    • Moneyineptitude
    • By Moneyineptitude 15th Aug 19, 10:19 AM
    • 24,624 Posts
    • 14,138 Thanks
    Moneyineptitude
    Did you actually have PPI? …….. I actually have no idea !
    Originally posted by rego
    Well, you better make haste and find out. The deadline for complaints is now only two weeks away.
    • Falcon13
    • By Falcon13 16th Aug 19, 12:42 AM
    • 2 Posts
    • 0 Thanks
    Falcon13
    Hi there, quick question, I can't remember the name of the company that I got my first mortgage from, but I do remember that they charged me an excessive amount of insurance that they insisted I have as a condition of getting the mortgage. Is there any way of finding out the name of the company I used, I believe they owe me 1,000's
    • SonOf
    • By SonOf 16th Aug 19, 9:49 AM
    • 1,137 Posts
    • 1,373 Thanks
    SonOf
    Hi there, quick question, I can't remember the name of the company that I got my first mortgage from, but I do remember that they charged me an excessive amount of insurance that they insisted I have as a condition of getting the mortgage. Is there any way of finding out the name of the company I used, I believe they owe me 1,000's
    Originally posted by Falcon13
    They dont owe you a penny.

    What you are referring to is known as mortgage indemnity guarantee (MIG). It was charged when people didnt put down big enough deposits. Typically when you were borrowing more than 75-85%.

    It was not PPI. It is not something you are going to get back as there is nothing wrong with MIG.
    • RidgeRider
    • By RidgeRider 16th Aug 19, 11:43 AM
    • 3 Posts
    • 0 Thanks
    RidgeRider
    Which bank used to give an "Asset" account?
    In about 2004, I used to have an "Asset" account which was either a credit card or maybe a loan. I'm hoping to be able to reclaim PPI from it. The only problem is that I can't remember which bank provided it and I can't find the answer online anywhere. Does anyone remember having one of those accounts please?
    • Norahnoo15
    • By Norahnoo15 16th Aug 19, 2:45 PM
    • 1 Posts
    • 0 Thanks
    Norahnoo15
    I was stupid enough to respond to the angie ppi post on facebook. I did not return any paperwork to them decided to contact the bank direct myself (no idea i had ppi with them in the 1st place).

    I emailed them to say i didnt wish to continue & weeks later have had an email saying as i didnt cancel in tje 14 days im liable for cancellation charges. At £40 an automated email thats already £1800 just asking me to send back signed paper work. Is this legal?

    Sat here panicking. Would really apppreciate any advice.

    Thanks v much
    • Falcon13
    • By Falcon13 16th Aug 19, 3:46 PM
    • 2 Posts
    • 0 Thanks
    Falcon13
    They dont owe you a penny.

    What you are referring to is known as mortgage indemnity guarantee (MIG). It was charged when people didnt put down big enough deposits. Typically when you were borrowing more than 75-85%.

    It was not PPI. It is not something you are going to get back as there is nothing wrong with MIG.
    Originally posted by SonOf
    My apologies, I obviously didn't give you enough information.
    I was buying my council house and after the mortgage part of it there was still 60% equity in the house as I had been paying rent on it for about 20 years.
    I was obliged to pay for the PPI and told this would cover the payments for the mortgage if for any reason I was unable to, ie I was made unemployed, or I was sick. But at the time of the purchase I was either working as a care assistant through an agency (temporary) or self employed as a carpenter. Neither of these were covered by PPI. I told the mortgage broker at the time that I didn't think it would cover me and was told that I had no choice if I wanted the mortgage.
    As it happens I managed to answer my own question, I first spoke to the solicitor who did the conveyancing when I sold the house and she said it would be the sort of info that the land registry would hold along with the deeds. So I phoned them and a lovely gentleman called Gordon spent 10 minutes talking to me and he gave me all the info I needed to make my claim.
    Thank you anyway
    Last edited by Falcon13; 16-08-2019 at 3:57 PM. Reason: To make the situation clearer :)
    • BBB
    • By BBB 17th Aug 19, 7:43 AM
    • 258 Posts
    • 70 Thanks
    BBB
    Has anyone had success in reclaiming PPI without having to send bank statements in? I'm trying with QuickQuid at the moment and I don't want to, nor feel comfortable with sending them copies of bank statements.
    • zx81
    • By zx81 17th Aug 19, 7:49 AM
    • 23,563 Posts
    • 26,172 Thanks
    zx81
    It doesn't matter about other people's experiences, as every complaint is individual.

    Just redact any information you don't want them to see.
    • Moneyineptitude
    • By Moneyineptitude 17th Aug 19, 9:05 AM
    • 24,624 Posts
    • 14,138 Thanks
    Moneyineptitude
    I'm trying with QuickQuid at the moment and I don't want to, nor feel comfortable with sending them copies of bank statements.
    Originally posted by BBB
    Did QuickQuid even offer PPI? I thought they only offered short-term loan facilities (Payday loans)?
    Regardless, have they requested you send them Bank Statements? If not, a simple complaint with account and date details should be sufficient-but do check you actually had PPI first.
    • Moneyineptitude
    • By Moneyineptitude 17th Aug 19, 9:08 AM
    • 24,624 Posts
    • 14,138 Thanks
    Moneyineptitude
    I emailed them to say i didnt wish to continue & weeks later have had an email saying as i didnt cancel in tje 14 days im liable for cancellation charges. At £40 an automated email thats already £1800 just asking me to send back signed paper work.
    Originally posted by Norahnoo15
    Contact the Ombudsman for advice and assistance...
    • Ianto1968
    • By Ianto1968 17th Aug 19, 12:26 PM
    • 6 Posts
    • 0 Thanks
    Ianto1968
    I disagree with banks getting PPI claim money back off anyone. They miss sold it in the first place, received commission on it and were insolvent themselves 2008.

    Seems very odd the law only includes PPI reclaimed money and no other windfall.
    • NCC-1701
    • By NCC-1701 17th Aug 19, 12:42 PM
    • 445 Posts
    • 734 Thanks
    NCC-1701
    I disagree with banks getting PPI claim money back off anyone. They miss sold it in the first place, received commission on it and were insolvent themselves 2008.

    Seems very odd the law only includes PPI reclaimed money and no other windfall.
    Originally posted by Ianto1968
    Although you seem quite happy to default yourself and not pay your debts.
    • Ianto1968
    • By Ianto1968 17th Aug 19, 1:18 PM
    • 6 Posts
    • 0 Thanks
    Ianto1968
    I had to sell my house in a divorce settlement in 2002. Paid house in full. Paid her off and left with not a lot. The PPI in my claim was from a loan in 1993. Paid back in full along with PPI. I was discharged from bankruptcy 2004.
    Banks admit miss selling and I bought a miss sold product. They keep a lot of this ppi money set aside to repay the CONSUMER.
    Only my opinion so not getting personal.
    It affects all bankruptcies.
    • NCC-1701
    • By NCC-1701 17th Aug 19, 1:26 PM
    • 445 Posts
    • 734 Thanks
    NCC-1701
    I had to sell my house in a divorce settlement in 2002. Paid house in full. Paid her off and left with not a lot. The PPI in my claim was from a loan in 1993. Paid back in full along with PPI. I was discharged from bankruptcy 2004.
    Banks admit miss selling and I bought a miss sold product. They keep a lot of this ppi money set aside to repay the CONSUMER.
    Only my opinion so not getting personal.
    It affects all bankruptcies.
    Originally posted by Ianto1968
    Your domestics aside if you had paid the loan back in full you would have had the PPI money returned to you in full had you lodged a successful complaint. Who is this CONSUMER that was paid?
    • Ianto1968
    • By Ianto1968 17th Aug 19, 1:31 PM
    • 6 Posts
    • 0 Thanks
    Ianto1968
    Consumer is the buyer of the miss sold product.

    I'll agree to disagree.

    Thanks for the flip side though 👍
    • Baksho123
    • By Baksho123 17th Aug 19, 6:31 PM
    • 1 Posts
    • 0 Thanks
    Baksho123
    Does anyone know who to contact if you had a loan with HFC bank, I had one back in 2005, I have contact HSBC who claim they cannot find any details.
    • Ianto1968
    • By Ianto1968 17th Aug 19, 7:43 PM
    • 6 Posts
    • 0 Thanks
    Ianto1968
    Loan was repaid in full. Have letter of Bank of Scotland confirming same. So I actually agree with you, as I'd paid in full I should indeed have it returned for me .

    Thanks very much 👍 lol
    • Moneyineptitude
    • By Moneyineptitude 17th Aug 19, 8:23 PM
    • 24,624 Posts
    • 14,138 Thanks
    Moneyineptitude
    was discharged from bankruptcy 2004.
    Originally posted by Ianto1968
    as I'd paid in full I should indeed have it returned for me .
    Originally posted by Ianto1968
    You do realise that PPI redress is a pre-bankruptcy asset which belongs to the Official Receiver and so is no longer your concern ?

    If you were now to complain in conjunction with the OR about your PPI, you could still ensure that any redress (should it be awarded) goes to the correct recipients. These are your former creditors which you failed to pay when you went Bankrupt.

    Otherwise, as you say, the Bank gets to "keep" the redress.

    Sorry.
    • Ianto1968
    • By Ianto1968 18th Aug 19, 3:38 PM
    • 6 Posts
    • 0 Thanks
    Ianto1968
    Only question I have left is why the new law 2017 only covers PPI? Just seems very odd.
    • Nenen
    • By Nenen 18th Aug 19, 6:46 PM
    • 2,350 Posts
    • 7,525 Thanks
    Nenen
    Confused the point of giving up or using an agency
    We had several old loans, mortgage and credit cards going back to the 90s, many of which we think included mis-sold PPI. I keep reading on here about how easy reclaiming PPI is but we are struggling to the point of considering giving up or handing it all over to an agency. I know this means we will lose 20 -25% of any payout but at the moment we stand to lose 100%! Before we go down this route, can anyone help with the following please...

    Our problems are:

    1. We don’t have much info on most of the credit agreements so need to find out if they included PPI. I used to think we were both reasonably intelligent but trying to get our heads round this is like knitting fog! We are both registered disabled with complex medical conditions and have very little energy to fight our way through all the information, let alone the barriers these big institutions use, eg Barclaycard do not provide an email address and their ‘contact us’ form on their website will not accept enough characters to send them the template letter Martin advises to ask for info on any ppi in our credit agreement. We just spent 40 mins to Barclays Indian call centre getting absolutely nowhere with a lady who couldn’t understand what we were asking for and who said she couldn’t even give us an email address for Barclays. A google search hit a brick wall too ! Sending snail mail is an option but obviously slow and time is of the essence! Does anyone have an email address for all the institutions such as: Barclaycard, Barclays Bank, Halifax, Lloyds, C&G, Capital One, or should we just request the info by snail mail?

    2. Assuming we manage to request this info, they have 30 days to respond which obviously takes us over the 29th August deadline. I read Martins comments that some financial institutions will take the enquiry as the first stage of the complaint but is there really any point contacting ones not on Martins list as surely they will just prevaricate to prevent having to pay?

    3. Can anyone recommend an agency to help us sort this mess out which is thorough, helpful and has reasonable charges?

    Many thanks for reading.
    “A journey is best measured in friends, not in miles.”
    (Tim Cahill)

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