Ppi

Bit of a meandering post, but please bear with me….
Back in April, a form came through my letterbox from a PPI claim company. They said they could trace back any monies owed to me up to 25 years ago so this appealed to me somewhat.

A couple of work colleagues have been awarded repayments to do with past credit cards and loans and so I sent an email asking for more info. They told me that initially they will only be able to look into the last six years debts to start with, not the 25+ I was hoping and they asked Credit Call to send me their credit report which didn’t really help too much. It was a long drawn out process but I persevered with it. Following dozens of letters and emails to and fro from this company, I have ended up with nothing.

A rather brighter prospect is that my own bank sent me a form the other day telling me that they think I am owed PPI from a loan that I took out. Now, the puzzling thing is that because I've had various loans and credit agreements which date back years, I have no idea which it refers to and couldn't enter any other details than my name and address. But they have encouraged me to send my details away and they say I should be refunded some money. I decided to go in person to my branch this afternoon and ask their advice and they were in agreement with what the letter advised and said I needed no more details filling in. I did, however, mention the company whom I was dealing with to find my other claims and they did offer a word of caution that perhaps they had found out something and that they might get wind of this and want a cut of the repaid cash if/when I get reimbursed from my bank.

So basically it's fingers crossed now. As far as I'm concerned the bank are 'on with it' and anything I do receive is a bonus. But I'll be keeping a good chunk of it in the bank in case the other firm decide they want something back.

My question is: Will this other company be entitled to anything even though this is now being dealt with directly by my bank?
Also, if you have any similar stories about your own claims for PPI, please post them for interest.

Re: Ppi

^ Apol's for the small letters in my header above; it wasn't posted "Ppi", rather "PPI" - which is more grammatically correct! lol

Re: Ppi

Read the small print in your agreement with the company, if you signed an agreement with them, if you signed nothing then you will be safe from any future claims they may make against you.

Re: Ppi

I understand that, and I did sign an agreement, but this letter from my bank appears to be separately sent by them. The bank did seem to think the PPI company had nothing to do with this, so it's a tricky one really.

If, in the unlikely event that my bank do refund some cash to myself, I'll probably retain a good wedge of it in my account in case the other company decide to take it in payment.

Re: Ppi

I've been advised by a friend to apply , she paid the company 30% but said at least she got a few hundred which she wouldn't have had . Reading your message I don't think the company are entitled to any money you receive from the bank as they wouldn't have "worked" for it . It's your bank that will be investigating .

While I'm typing can anyone advise who would be the best company to go through ?

Re: Ppi

Don't go through a company - no need.
Just do it yourself. I got 4k back from Barclays, took less than 2 months from writing to payment.

Re: Ppi

Use something like this......


Date]
[Your Name & address]
[Name and address of PPI provider]
FAO: Complaints Manager
Dear Sir/Madam,
Re:*[insert credit reference number and the PPI policy number]
I purchased the above policy from you on [date] in connection with the [mortgage/loan/credit card/store card/finance agreement] referenced above.

I believe I was mis-sold this policy for the reasons given below, and wish you to investigate my complaint according to your normal complaint procedures.
[insert one or more of the following bullet points – whichever points refer to you. Delete any which are not relevant]

I was not told that the insurance was optional.

I was led to believe my application for credit would be rejected if I did not take out the insurance.

The policy exclusions were not explained to me either before, or at the time, I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me.

I now believe the insurance was unsuitable for me as I was suffering from [insert name of any medical condition you had] at the time I took out the policy and was not made aware of the specific exclusion which relates to pre-existing medical conditions.

I now believe the insurance was unsuitable for me as I was [self employed / unemployed / in temporary employment / on a fixed term contract/retired] at the time I took out the policy and was not made aware of the specific exclusions relating to unemployment cover.

The policy was unsuitable for me as I was over the maximum age of [insert maximum age].
It was not explained to me that the policy premium would be paid upfront as a single premium and would be added to my debt and attract interest.

The insurance [has expired / will expire] before my loan/credit agreement ends which means I [am paying / will be paying] interest on a policy which is no longer in force. This was not made clear to me at the time the policy was sold to me.

If my complaint is upheld I require a refund of all premiums paid to the policy, plus any additional interest charged to me because of the PPI.*
I would also like to claim statutory compensation in view of the fact that I have been deprived of the use of this money.
Please now investigate my complaint within the eight weeks allowed to you.

Yours faithfully,

Re: Ppi

Hi Susan.
Fender has it spot on, but if you only remember a few details, like I did, a company such as this one below may be able to help. In my case, I was unlucky not to be owed anything, but they were quite helpful.
https://www.google.co.uk/url?sa=t&rc...880,bs.1,d.d2s

Re: Ppi

Floydy,

Even if you can't remember any finer details, anyone can request a copy of any previous credit agreements for £1 per copy, per lender.

If they get pissy, send a SAR for a tenner. They are legally obliged to comply.

There is never a reason to allow these ppi claim scumbags to get hold of 30% of your money...

Re: Ppi

Very true, Fender thanks
But as I say, this new request has come straight from my bank, so I'm deducing that the claims company are not involved