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PostPosted: Mon Mar 04, 2013 8:02 pm 
Retro Guru

Joined: Wed Apr 04, 2007 2:33 pm
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I've completely ignored this as well, thinking I've never really had a loan other than mortgage and one student loan, long since repaid.

Then tonight I remembered being sold "repayment cover" when I first got a credit card and was paying that for about seven years.

I was only really paying the minimum amount most months though, probably less than a pound, with the occasional fiver or something - is it still worth pursuing, and on what grounds - that I didn't need it (which I certainly didn't)?


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PostPosted: Mon Mar 04, 2013 8:30 pm 
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I reckon I'm in the same boat. Had credit card about 15 years ago that may have had ppi on it. But I no longer bank with Barclays and don't have any evidence of the card/account. Would like some free money though :)


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PostPosted: Tue Mar 05, 2013 12:26 am 
National & North West AEC
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MikeD wrote:

Quote:
plus interest plus an additional statutory 8% per annum accumulating compensation amount


I'm not entirely sure how it's worked out, but I think it's based on the difference between your annual repayments with and what they would've been without the additional PPI.
Then 8% is taken from that amount each year and added onto the final settlement figure.
All I know is that it added nearly an extra £1.5k to my final payout.

As LGF says though, this is a tax declarable sum as it counts as additional income.

swannymere wrote:
What happens if you don't have any paperwork and are not 100% sure of the company i.e. it's one of two?

It may still be worth contacting whoever you think you had your loan or credit cards with to see if they have any records of you.
The hardest thing will be proving that you are who you say you are when making such requests without any firm information to back things up. Security checks when you've forgotten passwords and previous addresses are always fun.
The lenders are however legally obliged to supply any account details. Ask them for a repayment schedule for your account, or just ask them directly whether you had a PPI policy or not.

The banks and lenders should be contacting any of their customers if they had been sold PPI in the past.
For example, and rather ironically, I received a letter and PPI claim pack from Egg banking a few weeks after I'd contacted them to initiate my claim. My contacting them would have supplied them with my current address, hence the letter from them.

I suspect the biggest difficulty for the banks is contacting customers whose contact details are out of date.
But it's always worth a try...


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PostPosted: Tue Mar 05, 2013 9:14 am 
Gold Trader / PoTM Winner
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I cant help smell a fishy rat with my previous lender Lloyds TSB, who, "according to their records" did not provide me with PPI on my loan or CC, yet despite this they have repeatedly not provided me with my account details. I have long since disposed of the records of the accounts, but given them my addresses at the time, yet in each correspondence from, despite asking for the actual account numbers etc, they fail to give me the actual account details, so I am left trusting their word.....

The fact that so many people have complained to the financial services ombudsman about them dodging payments, leaves me question their integrity :evil:



G


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PostPosted: Tue Mar 05, 2013 9:59 am 
Karma Queen / Cake Meisterin
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I was surprised when I saw Esther Rantzen advertising a PPI claims company, isn't she supposed to be a soldier for the people fighting against companies that rip people off.

We had a loan with The Bank of Scotland and a card with Egg, but have no details left, I wonder if we can get our PPI back from them.

Alison


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PostPosted: Tue Mar 05, 2013 1:02 pm 
retrobike rider / Gold Trader
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swannymere wrote:
What happens if you don't have any paperwork and are not 100% sure of the company i.e. it's one of two?


First use Equifax or such like to find out who the loan was with and then a SAR or Subject Access Request (each one cost £10) to the company involved to retrieve all information they hold on you.

Carl.


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PostPosted: Tue Mar 05, 2013 1:04 pm 
retrobike rider / Gold Trader
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unkleGsif wrote:
I cant help smell a fishy rat with my previous lender Lloyds TSB, who, "according to their records" did not provide me with PPI on my loan or CC, yet despite this they have repeatedly not provided me with my account details. I have long since disposed of the records of the accounts, but given them my addresses at the time, yet in each correspondence from, despite asking for the actual account numbers etc, they fail to give me the actual account details, so I am left trusting their word.....

The fact that so many people have complained to the financial services ombudsman about them dodging payments, leaves me question their integrity :evil:



G


Go and see your account manager, they have access to all the products you have ever had with Lloyds and will be able to give you any numbers of loan accounts you have ever had, with this you can call the Lloyds PPi claim line and start your claim with them. how do I know this, well it's exactly what I did with Lloyds and got back nearly £6k, with one visit and 3 phone calls.

Carl.


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PostPosted: Tue Mar 05, 2013 1:26 pm 
Gold Trader / PoTM Winner
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Carl,

I dont bank with Lloyds anymore, and havent for several years....




G


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PostPosted: Tue Mar 05, 2013 3:57 pm 
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What is the definition of being 'mis-sold' PPI? Whats stopping everyone just saying they were mis-sold it when in fact they knew exactly what it was for and why and are just trying to claim it back now becuase they didn't need to claim on it and think they'll get the money back.


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PostPosted: Tue Mar 05, 2013 4:02 pm 
retrobike rider / Gold Trader
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Kerplunk wrote:
What is the definition of being 'mis-sold' PPI? Whats stopping everyone just saying they were mis-sold it when in fact they knew exactly what it was for and why and are just trying to claim it back now becuase they didn't need to claim on it and think they'll get the money back.


One of the main problems is suitability for PPI as PPI will frequently not payout under the following circumstances:
1. You have sick/redundancy pay
2. Your partner is working
3. You had a medical condition that excluded you from the insurance

So if the vendor has sold you insurance and not explained the above T&C's or provided you with a copy of them (which most never did) it was missold.

@GSIF, if you no longer bank with Lloyds use the Equifax then SAR route as they have to respond under UK law.

Carl.


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