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  • FIRST POST
    Former MSE Rose
    PPI Reclaiming Discussion Part 5
    • #1
    • 28th Feb 12, 4:40 PM
    PPI Reclaiming Discussion Part 5 28th Feb 12 at 4:40 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 505
    • Moneyineptitude
    • By Moneyineptitude 12th Nov 17, 9:44 AM
    • 22,607 Posts
    • 12,152 Thanks
    Moneyineptitude
    How is it, that when contacted by cold callers, they appear to know my entire credit history
    Originally posted by studio500
    They are either guessing by naming big lenders, random amounts and dates or your personal details have been compromised. It's far more likely to be the former than the latter!
    • Glaws07
    • By Glaws07 12th Nov 17, 10:49 AM
    • 1 Posts
    • 0 Thanks
    Glaws07
    Hi
    I just had a successful ppi claim with M&S bank. I was told in my award letter that it was a full & final settlement, but I could refer to th ombudsman if I wasn’t happy. They explained the breakdown of the payment and part of it was based on 8% interest. I received a cheque, which I’ve cashed and everything was hunky dory. However, I have just read on the ombudsman’s website that in the event that they make an award it would be based on 15% interest if the case was pre 1994. Mine was 1986. My question is, does anyone think I might be able to refer to the ombudsman or is it too late because I’ve cashed the cheque?
    Peter
    • -taff
    • By -taff 12th Nov 17, 2:16 PM
    • 8,937 Posts
    • 8,813 Thanks
    -taff
    When you accept it, it's usually in full and final settlement, although there's no harm in wiriting a letter and pointing out they got the interest portion wrong.
    It's not payable for every year, just up to the year they've decided [can't remember what it is exactly offhand]
    • dunstonh
    • By dunstonh 12th Nov 17, 2:58 PM
    • 96,058 Posts
    • 63,874 Thanks
    dunstonh
    How is it, that when contacted by cold callers, they appear to know my entire credit history and who I had loans with dating back decades, yet when I contact the said bank myself (yorkshire) they state they have no records dating back that far?
    Some cold callers make it up. Statistically, picking one of the big banks covers most PPI complaints. Some get you to name it in conversation without you even realising. Some have got hold of data illegally. Some check the land registry records which will tell them your secured loan details (not whether you had PPI or not).

    Also and very strangely, they told my wife that she had a loan taken out in her name dating back over 10 years ago, yet to her knowledge she never had.
    Part of the lies they get to sign you up.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Simon Potter
    • By Simon Potter 15th Nov 17, 7:38 PM
    • 1 Posts
    • 0 Thanks
    Simon Potter
    Hi, I wonder if anyone could advise me on the following question: Many years ago I had loans from Lloyds Bank. I remember quite clearly that they offered me PPI which I declined and this was accepted by Lloyds. However I was persuaded to take out an Income Protection Plan through Black Horse Life. This I agreed to and had this cover for many years until I recently gave up full time work and cancelled the policy. My question is, is this the same as PPI? And am I able to claim for mis-selling as I would if I had taken PPI?
    • zx81
    • By zx81 15th Nov 17, 7:42 PM
    • 19,598 Posts
    • 20,971 Thanks
    zx81
    No. .
    • dunstonh
    • By dunstonh 15th Nov 17, 8:09 PM
    • 96,058 Posts
    • 63,874 Thanks
    dunstonh
    Hi, I wonder if anyone could advise me on the following question: Many years ago I had loans from Lloyds Bank. I remember quite clearly that they offered me PPI which I declined and this was accepted by Lloyds. However I was persuaded to take out an Income Protection Plan through Black Horse Life. This I agreed to and had this cover for many years until I recently gave up full time work and cancelled the policy. My question is, is this the same as PPI? And am I able to claim for mis-selling as I would if I had taken PPI?
    Originally posted by Simon Potter
    The Black Horse Life income protection plan was a PHI policy. Not PPI.

    For a bank product, it was actually quite good. It came from the era before mass selling when certain banks actually retailed decent financial products.

    PHI is regarded as one of the most important insurances you should get. You cannot compare it to PPI. It suffers none of the same issues.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • pugsydog
    • By pugsydog 17th Nov 17, 9:08 AM
    • 10 Posts
    • 23 Thanks
    pugsydog
    I had a mortgage with Halifax. It was an endowment. I know we paid ppi but they say not because I canít provide any paperwork. We paid it off years ago and the paperwork was burned. Any ideas what I can do?
    • zx81
    • By zx81 17th Nov 17, 9:11 AM
    • 19,598 Posts
    • 20,971 Thanks
    zx81
    If you can't provide evidence, you could gamble £10 on a SAR. I suspect it would be £10 in the bin.

    On a positive note, chance are good that you weren't mis sold.
    • dunstonh
    • By dunstonh 17th Nov 17, 10:03 AM
    • 96,058 Posts
    • 63,874 Thanks
    dunstonh
    I had a mortgage with Halifax. It was an endowment. I know we paid ppi but they say not because I canít provide any paperwork. We paid it off years ago and the paperwork was burned. Any ideas what I can do?
    Originally posted by pugsydog
    There is no PPI on the endowment. That is not possible. If you had PPI, it would have been a standalone plan.

    If you have no evidence and they have no evidence then its game over.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • astrowanderer
    • By astrowanderer 10th Oct 18, 11:39 AM
    • 1 Posts
    • 0 Thanks
    astrowanderer
    PPI Claim Against Lloyds TSB?
    I used to run a limited company which has been closed down several years ago.

    I was sold a personal bank loan by Lloyds TSB to try to keep the company afloat due to bad debt and forced to take out a meaningless PPI which I did argue with at the time but told no PPI no Loan. So I complied.


    1) Can i claim for that PPI as it was personal loan using personal assets as collateral (i.e. House)
    2) can i claim against LLoyds TSB which does not exist anymore?


    I did make this inquiry of a PPI cold caller and told no.
    Last edited by astrowanderer; 10-10-2018 at 11:40 AM. Reason: Mispelling in title.
    • -taff
    • By -taff 10th Oct 18, 3:01 PM
    • 8,937 Posts
    • 8,813 Thanks
    -taff
    You can certainly omplain about it [PPI is not part of pot that people claim money back from, it is a complaints procedure regarding misselling]
    Start with Lloyds, and see what they say.
    • Boo1273
    • By Boo1273 10th Oct 18, 7:08 PM
    • 1 Posts
    • 0 Thanks
    Boo1273
    I submitted a PPI complaint to RBS, on Monday had a text confirming receipt and today had a text saying they have sent me a letter with the outcome. Seems quite quick to me, does this suggest a negative response or am I reading too much into it ? They had already confirmed that I had PPI. What have been others experiences ?
    • dunstonh
    • By dunstonh 10th Oct 18, 7:20 PM
    • 96,058 Posts
    • 63,874 Thanks
    dunstonh
    I submitted a PPI complaint to RBS, on Monday had a text confirming receipt and today had a text saying they have sent me a letter with the outcome. Seems quite quick to me, does this suggest a negative response or am I reading too much into it ? They had already confirmed that I had PPI. What have been others experiences ?
    Originally posted by Boo1273
    It could be an auto-payout. It could be a timebar is in place. It could be they found no PPI.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • The Bar L
    • By The Bar L 13th Oct 18, 1:51 PM
    • 3 Posts
    • 0 Thanks
    The Bar L
    Hi,

    I did a PPI checker through resolver with my bank (Natwest). I was sure I had never had PPI. I've had the forms through from RBS saying for a loan I had 2001-2006 there was PPI and the insurance premium was £460. I will complete the forms and see what happens, but if I were to be successful is there a way to calculate what I might get back, based on the £460 insurance premium? I don't actually remember anything about this loan at all.
    • Nasqueron
    • By Nasqueron 13th Oct 18, 8:02 PM
    • 6,163 Posts
    • 3,760 Thanks
    Nasqueron
    Hi,

    I did a PPI checker through resolver with my bank (Natwest). I was sure I had never had PPI. I've had the forms through from RBS saying for a loan I had 2001-2006 there was PPI and the insurance premium was £460. I will complete the forms and see what happens, but if I were to be successful is there a way to calculate what I might get back, based on the £460 insurance premium? I don't actually remember anything about this loan at all.
    Originally posted by The Bar L

    You get a refund of the premiums plus associated interest at 8% simple annually.
    • TomPPI
    • By TomPPI 15th Oct 18, 7:02 PM
    • 3 Posts
    • 0 Thanks
    TomPPI
    Help!
    Hi there I'm in the middle of doing a self ppi claim with resolver as suggested in one of Martin's newsletters. I just had a couple of important questions in order to know how best to proceed.

    If i didn't complete my loan repayments beyond two years of paying them back diligently and then defaulted, am i still able to claim for ppi against said loan. Also does the loan reactivate (it's been over 7 years with its statute of limitations even though i got a ccj by default) as i go through this process, or is there any danger of that..

    Lastly what happens now, after completing the form and sending it, the bank replied to me saying that they had received it and were looking into it and would get in touch or call me, but i haven't heard anything at all from them.

    I also have to go through the process of getting the ccj in relation to this revoked as it was always beyond the statute of limitations i just didn't get the correspondence concerning it as i was overseas.
    Last edited by TomPPI; 15-10-2018 at 7:04 PM. Reason: bad grammar!
    • dunstonh
    • By dunstonh 15th Oct 18, 7:06 PM
    • 96,058 Posts
    • 63,874 Thanks
    dunstonh
    If i didn't complete my loan repayments beyond two years of paying them back diligently and then defaulted, am i still able to claim for ppi against said loan.
    Yes. However, the lender, if they uphold your complaint, will use the redress against the unpaid debt. You dont get it unless the redress is more than the debt (and you only get the excess).

    Also does the loan reactivate (it's been over 7 years with its statute of limitations even though i got a ccj by default) as i go through this process, or is there any danger of that..
    If its statute barred, it remains so.

    Lastly what happens now, after completing the form and sending it, the bank replied to me saying that they had received it and were looking into it and would get in touch or call me, but i haven't heard anything at all from them.
    ou wait.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • M0ther54
    • By M0ther54 16th Oct 18, 3:28 PM
    • 1 Posts
    • 0 Thanks
    M0ther54
    Ppi
    My husband and I are divorced. During our married life we had loans with LLoyds Bank which always had PPI as we thought you had to have them. A few years ago I claimed PPI on the loans which were on our Joint account and in the end we both received cheques from the bank. I have since found out that my ex instructed a PPI claims firm to find out if there was anything due to him. LLoyds subsequently sent him a cheque for £2300 which he can't cash as it is in both our names. I rang LLoyds and have asked them why this loan PPI was not paid when 1st claim was made as it was taken out in the year 2000. The gentleman has now told me that as it was a joint account they would send two seperate cheques as we are divorced as opposed to one to my ex husband who wishes me to pay half the fees. The bank has told me that the claim is with me and my ex husband and that is who they will pay to. My origianal question was not answered. Is the claim company entitled to money from my half which my ex asked to look into? I really do not beleive that if the cheque had not been sent to him in both names and he couldn't cash it I would not know anything about this. Why didn't the bank let me know that more PPI was due to both of us?
    • zx81
    • By zx81 16th Oct 18, 3:38 PM
    • 19,598 Posts
    • 20,971 Thanks
    zx81
    Your husband needs to pay the claims company and he was the muppet who employed them.

    It will probably wipe out most of his share, as the fee could be as much as half of the total.
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