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  • FIRST POST
    • CurlySue2017
    • By CurlySue2017 16th May 18, 9:10 AM
    • 93Posts
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    CurlySue2017
    PPI - To claim or not to claim?
    • #1
    • 16th May 18, 9:10 AM
    PPI - To claim or not to claim? 16th May 18 at 9:10 AM
    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?
Page 1
    • amersall
    • By amersall 16th May 18, 9:12 AM
    • 15,251 Posts
    • 18,853 Thanks
    amersall
    • #2
    • 16th May 18, 9:12 AM
    • #2
    • 16th May 18, 9:12 AM
    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
    • By CurlySue2017 16th May 18, 10:17 AM
    • 93 Posts
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    CurlySue2017
    • #3
    • 16th May 18, 10:17 AM
    • #3
    • 16th May 18, 10:17 AM
    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?
    • zx81
    • By zx81 16th May 18, 10:20 AM
    • 16,792 Posts
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    zx81
    • #4
    • 16th May 18, 10:20 AM
    • #4
    • 16th May 18, 10:20 AM
    http://www.n-ram.co.uk/ppi
    • dunstonh
    • By dunstonh 16th May 18, 11:24 AM
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    dunstonh
    • #5
    • 16th May 18, 11:24 AM
    • #5
    • 16th May 18, 11:24 AM
    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). 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.
    • CurlySue2017
    • By CurlySue2017 16th May 18, 1:02 PM
    • 93 Posts
    • 118 Thanks
    CurlySue2017
    • #6
    • 16th May 18, 1:02 PM
    • #6
    • 16th May 18, 1:02 PM
    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.
    Originally posted by dunstonh
    So where would I complain then?
    • CurlySue2017
    • By CurlySue2017 16th May 18, 1:27 PM
    • 93 Posts
    • 118 Thanks
    CurlySue2017
    • #7
    • 16th May 18, 1:27 PM
    • #7
    • 16th May 18, 1:27 PM
    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
    Originally posted by Pjam
    Sorry, but could you post your own thread please rather than throwing mine off topic???

    Board Guides - Could this be moved please?
    • JimmyTheWig
    • By JimmyTheWig 16th May 18, 1:36 PM
    • 11,619 Posts
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    JimmyTheWig
    • #8
    • 16th May 18, 1:36 PM
    • #8
    • 16th May 18, 1:36 PM
    So where would I complain then?
    Originally posted by CurlySue2017
    To whoever (mis-)sold it to you.
    • dunstonh
    • By dunstonh 16th May 18, 2:03 PM
    • 92,561 Posts
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    dunstonh
    • #9
    • 16th May 18, 2:03 PM
    • #9
    • 16th May 18, 2:03 PM
    So where would I complain then?
    Originally posted by CurlySue2017
    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). 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.
    • CurlySue2017
    • By CurlySue2017 16th May 18, 2:31 PM
    • 93 Posts
    • 118 Thanks
    CurlySue2017
    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
    • By dunstonh 16th May 18, 2:51 PM
    • 92,561 Posts
    • 59,855 Thanks
    dunstonh
    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). 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.
    • CurlySue2017
    • By CurlySue2017 16th May 18, 3:21 PM
    • 93 Posts
    • 118 Thanks
    CurlySue2017
    Yes, I did want factual HELPFUL responses, but you said this:

    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.
    Originally posted by dunstonh
    Followed by this:

    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.
    Originally posted by dunstonh
    If you were going to explain the reason why anyway, why not just explain that in the first place instead of just saying "give up" with no expansion on that?

    How is that helpful to someone who came here for advice from people that have a better understanding?

    I wanted factual answers yes, but smart !!!! comments and flippant remarks? No thanks, you can keep those.
    • dunstonh
    • By dunstonh 16th May 18, 4:01 PM
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    dunstonh
    If you were going to explain the reason why anyway, why not just explain that in the first place instead of just saying "give up" with no expansion on that?
    Why didnt you give the date your bought it in the first place?
    Then we wouldnt have to waste our time giving out extra information that doesnt apply.

    Why didnt you ask the relevance of the 14th January date if you didnt know. Instead, you got stroppy.
    I wanted factual answers yes, but smart !!!! comments and flippant remarks? No thanks, you can keep those.
    I suggest you follow your own advice as the only person on this thread with a bad attitude is you. Attacking those that are trying to help is rude and counterproductive.
    Last edited by dunstonh; 16-05-2018 at 4:03 PM.
    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.
    • CurlySue2017
    • By CurlySue2017 17th May 18, 12:34 PM
    • 93 Posts
    • 118 Thanks
    CurlySue2017
    Why didnt you give the date your bought it in the first place?
    Then we wouldnt have to waste our time giving out extra information that doesnt apply.

    Why didnt you ask the relevance of the 14th January date if you didnt know. Instead, you got stroppy.


    I suggest you follow your own advice as the only person on this thread with a bad attitude is you. Attacking those that are trying to help is rude and counterproductive.
    Originally posted by dunstonh
    Maybe you should read this before you tell anyone else to give up on their claims based on the timescale, it would appear that you need to check your facts again:

    https://forums.moneysavingexpert.com/showthread.php?t=5839394
    • Moneyineptitude
    • By Moneyineptitude 17th May 18, 12:44 PM
    • 20,128 Posts
    • 11,074 Thanks
    Moneyineptitude
    Maybe you should read this before you tell anyone else to give up on their claims based on the timescale, it would appear that you need to check your facts again:

    https://forums.moneysavingexpert.com/showthread.php?t=5839394
    Originally posted by CurlySue2017
    That link is completely irrelevant to your circumstance!

    The thread in question is about success against a high street bank. Banks adhered to an earlier regulatory body prior to 2005 which is why they have to consider complaints from before that.

    As already pointed out on this thread, mortgage brokers, IFAs, estate agents, car dealers etc were not regulated before 14th Jan 2005. They therefore don't have to consider complaints pertaining to an earlier period.

    So the advice for you to "give up" was correct I'm afraid.
    • LABMAN
    • By LABMAN 17th May 18, 12:51 PM
    • 810 Posts
    • 1,396 Thanks
    LABMAN
    Maybe you should read this before you tell anyone else to give up on their claims based on the timescale, it would appear that you need to check your facts again:

    https://forums.moneysavingexpert.com/showthread.php?t=5839394
    Originally posted by CurlySue2017
    Go back and read the replies you have been given and you will see there is a reason the longer timescale does not apply to you. Stop being so stroppy.
    • dunstonh
    • By dunstonh 17th May 18, 1:02 PM
    • 92,561 Posts
    • 59,855 Thanks
    dunstonh
    Maybe you should read this before you tell anyone else to give up on their claims based on the timescale, it would appear that you need to check your facts again:

    https://forums.moneysavingexpert.com/showthread.php?t=5839394
    Originally posted by CurlySue2017
    Wrong. (again)

    It may help if you actually read the posts and take the information in rather than rush to be rude to people.

    In that thread it says it was a high street bank. Banks were members of an earlier body and have to consider pre-regulation complaints. Yours is not a bank. Companies unregulated at point of sale do not have to consider complaints about sales made pre-regulation unless they were members of an earlier body (such as the ABI or GISC - the bodes that the big firms were members of but not typically used by small firms).
    Last edited by dunstonh; 17-05-2018 at 1:07 PM.
    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.
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