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  • FIRST POST
    • datlex
    • By datlex 9th Nov 17, 8:02 PM
    • 1,598Posts
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    datlex
    Took first steps to PPI claim
    • #1
    • 9th Nov 17, 8:02 PM
    Took first steps to PPI claim 9th Nov 17 at 8:02 PM
    This evening I took the first steps towards a potential PPI claim on one loan. Basically had a loan taken out about 2003/4 which had PPI on initially which is now fully paid off. I don't know if I will have a claim as the money was refinanced and I don't have the paper work as I did not realise I would be able to potentially claim. When I say refinanced I mean, both consolidation loans and payment agreement arrangement between the bank and myself. What I cannot recall is whether the PPI was refunded when I made the agreement with the bank to pay the loan. I am pretty certain the agreement meant the PPI was no longer in place. The agreement was initially taken out when I got into the dreaded debt spiral. So when I would have needed the PPI (when was made redundant) the agreement meant it was no longer available. I am not sure how accurate that is but that was the impression I got. These days thankfully I am debt free. Hence I have made a speculative claim as it doesn't cost.

    I have a second older loan ( with the same company I believe though am not 100% sure there is a possibility it may be another bank) which was paid off in 2000 with an inheritance. Given the time scales I cannot recall if it even had PPI on it. Does any one know if banks check back on their full records if you put in a claim to see if you had multiple loans with PPI and thus may be entitled to more than one refund?

    Like I say not really expecting anything but if I am successful that will be good.
    Last edited by datlex; 09-11-2017 at 8:03 PM. Reason: miss placed part of text which would have been misleading
Page 1
    • Moneyineptitude
    • By Moneyineptitude 9th Nov 17, 11:27 PM
    • 19,999 Posts
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    Moneyineptitude
    • #2
    • 9th Nov 17, 11:27 PM
    • #2
    • 9th Nov 17, 11:27 PM
    "Speculative" complaints (claims) tie up the system for people with genuine concerns. Why didn't you simply ask the Bank whether your re-financed loan still had PPI? There really was no need to advance direct to "complaint".
    • datlex
    • By datlex 9th Nov 17, 11:40 PM
    • 1,598 Posts
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    datlex
    • #3
    • 9th Nov 17, 11:40 PM
    • #3
    • 9th Nov 17, 11:40 PM
    "Speculative" complaints (claims) tie up the system for people with genuine concerns. Why didn't you simply ask the Bank whether your re-financed loan still had PPI? There really was no need to advance direct to "complaint".
    Originally posted by Moneyineptitude
    As I mentioned I don't have the paper work and we are talking 14 years ago. I haven't put in a complaint.
    • sun73
    • By sun73 10th Nov 17, 12:13 AM
    • 402 Posts
    • 127 Thanks
    sun73
    • #4
    • 10th Nov 17, 12:13 AM
    • #4
    • 10th Nov 17, 12:13 AM
    Just follow the advice already given and contact the lender to ask if you had ppi on these historic loans. Most banks have a dedicated ppi helpline which you can find the details for on their websites.

    I wish I had 10 for every time I've mentioned this but if you no longer have the loan documents then check or request bank statements from that time to see if it shows your loans being paid by direct debit as it might reveal the account numbers you may need for a more in depth search.

    if the bank in question does manage to locate your loans and they were unsecured you could mention single ppi premium in your complaint form.
    • Moneyineptitude
    • By Moneyineptitude 10th Nov 17, 12:20 AM
    • 19,999 Posts
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    Moneyineptitude
    • #5
    • 10th Nov 17, 12:20 AM
    • #5
    • 10th Nov 17, 12:20 AM
    As I mentioned I don't have the paper work and we are talking 14 years ago. I haven't put in a complaint.
    Originally posted by datlex
    You clearly said "Hence I have made a speculative claim as it doesn't cost. "

    That's a complaint.

    (It's not a "claim" unless you are actually using the insurance because you've suffered a claimable event. ..)
    Last edited by Moneyineptitude; 10-11-2017 at 12:23 AM.
    • sun73
    • By sun73 10th Nov 17, 12:41 AM
    • 402 Posts
    • 127 Thanks
    sun73
    • #6
    • 10th Nov 17, 12:41 AM
    Took first steps ppi claim
    • #6
    • 10th Nov 17, 12:41 AM
    As I mentioned I don't have the paper work and we are talking 14 years ago. I haven't put in a complaint.
    Originally posted by datlex
    If you wish to request a refund of any ppi premiums you paid with your loans then you should submit a complaint to the bank.

    If you claimed on the policy when the loans were in payment, for a period of redundancy, the amounts you received would be deducted from any redress you might be offered in a subsequent complaint.
    • datlex
    • By datlex 6th Jan 18, 12:40 PM
    • 1,598 Posts
    • 1,489 Thanks
    datlex
    • #7
    • 6th Jan 18, 12:40 PM
    • #7
    • 6th Jan 18, 12:40 PM
    Well update. Put in my claim, got a letter saying they would investigate but would take 8 weeks. This morning received a letter saying they were going to refunding over 3000. Just need to provide my new bank details to them. Will be receiving the money in about 4 weeks. All from a speculative enquiry.
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