Advice needed - PPI

The Andy Naylor Fan Club

Well-known member

Aug 31, 2012

5,146

Right Here, Right Now

• May 1, 2013

• #1

Hi, I currently have a claim lodged with my bank for PPI which I believed was mis-sold to me back in 2000. I had a lady from the bank phone me today asking some indepth and technical questions in regards to my claim. As this was thirteen years ago I have no paperwork and also left my job that I was at two years after taking out the loan. She asked questions which I could not answer in regards to my employment at the time and as that company no longer exsists I can not get some of the information that she requires. Does anyone have any advice as I believe she is going to call me back and ask more questions? I want to be as honest as possible but do not want to jeopardise the chance of a payout. If anyone been in this situation and could give me some good advice I would appreciate it. Thank you.

 

A

Aseros

Banned

Jun 6, 2011

1,382

• May 1, 2013

• #2

Tell her that you are sorry and next time you take out a loan you will read the T+C to check what you are going to actually be paying? Or just say you don't have that information to hand and it is unlikely you will be able to get it. What questions were they? How much time you were off sick?

 

The Andy Naylor Fan Club

Well-known member

Aug 31, 2012

5,146

Right Here, Right Now

• May 1, 2013

• Thread starter
• #3

Aseros said:

Tell her that you are sorry and next time you take out a loan you will read the T+C to check what you are going to actually be paying? Or just say you don't have that information to hand and it is unlikely you will be able to get it. What questions were they? How much time you were off sick?

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One of the reasons I made this claim was that an ex- colleague from the company we worked for informed me that they too took out a loan with PPI and that as we had full sickness pay at the time it made the PPI virtually useless and so was mis-sold to them. I was asked, did we have a death in service scheme? Sickness benefits, what were they? Who sold me the policy at the bank? Others questions I managed to answer but as I say, the company no longer exsists and the information I got from my ex colleague was over two years ago and no longer have have contact with them.

 

TSB

Captain Hindsight

Jul 7, 2003

17,666

Lansdowne Place, Hove

• May 1, 2013

• #4

If you worked for a reputable company, they would almost certainly have had a death in service scheme. Can't answer the others though.

 

Bevendean Hillbilly

New member

Sep 4, 2006

12,805

Nestling in green nowhere

• May 2, 2013

• #5

They Are tightening up on these claims now after paying out billions without bothering to check.

 

smeariestbat

New member

May 5, 2012

1,731

• May 2, 2013

• #6

i think 2 years ago all you had to do was put in a claim if you had taken out ppi and you got a payout.

 

desprateseagull

New member

Jul 20, 2003

10,171

brighton, actually

• May 2, 2013

• #7

have a look on the MoneySavingExpert site.. might have some way of requesting copy of loan agreement etc, as a reminder, under FOI, or Data Protection Act?

Money Saving Expert

Dont let them fob you off!

 

Arthur

Well-known member

Jul 8, 2003

8,553

Buxted Harbour

• May 2, 2013

• #8

Bevendean Hillbilly said:

They Are tightening up on these claims now after paying out billions without bothering to check.

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Really?

I had a loan with Lloyds and a while back out of the blue I got a letter from them saying they were worried they mis-sold me PPI. Given that I didn't know I had PPI on the loan I guess they did. I filled out their questionnaire and pointed that fact out not really thinking anything about it. 8 weeks later got a letter telling me they had paid £5k into my bank account.

My point is had they not have contacted me in the first place I wouldn't have even known I was owed any money.

Personally I think the banks have had a bit of raw deal over this as it was my own stupid fault for not reading the small print but I wasn't going to turn down free money so.....bonus! The same goes for bank charges. They are set out when you open the account so if you break the banks rules how can they be unfair?

 

chucky1973

New member

Nov 3, 2010

8,829

Crawley

• May 2, 2013

• #9

has anyone had any success against Credit Card Companies?

 

Uncle Spielberg

Well-known member

NSC Patron

Jul 6, 2003

42,808

Lancing

• May 2, 2013

• #10

The claims management companies are largely to blame for this as they made hundreds of thousands of claims where policies were not even take out.

 

The Andy Naylor Fan Club

Well-known member

Aug 31, 2012

5,146

Right Here, Right Now

• May 2, 2013

• Thread starter
• #11

Thanks guys. I will just have to forward the information that I can remember. As for not reading the small print, it was made clear to me at the time that the PPI could be used as well as any company sickness policy or insurance policy that I had in place. This by all means was not the case thus rendered the PPI useless and not needed.

 

seagullsovergrimsby

#cpfctinpotclub

Aug 21, 2005

43,690

Crap Town

• May 2, 2013

• #12

The Andy Naylor Fan Club said:

Thanks guys. I will just have to forward the information that I can remember. As for not reading the small print, it was made clear to me at the time that the PPI could be used as well as any company sickness policy or insurance policy that I had in place. This by all means was not the case thus rendered the PPI useless and not needed.

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Many advisors who gave out this incorrect information were only interested in the commission payment , safe in the knowledge that if there was any comeback it would be well after they left that job.

 

The Andy Naylor Fan Club

Well-known member

Aug 31, 2012

5,146

Right Here, Right Now

• May 2, 2013

• Thread starter
• #13

seagullsovergrimsby said:

Many advisors who gave out this incorrect information were only interested in the commission payment , safe in the knowledge that if there was any comeback it would be well after they left that job.

Click to expand...

 

Arthur

Well-known member

Jul 8, 2003

8,553

Buxted Harbour

• May 2, 2013

• #14

The Andy Naylor Fan Club said:

Thanks guys. I will just have to forward the information that I can remember. As for not reading the small print, it was made clear to me at the time that the PPI could be used as well as any company sickness policy or insurance policy that I had in place. This by all means was not the case thus rendered the PPI useless and not needed.

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I appreciate that but surely you still had to sign something when you took out the finance that said you will be taking out PPI?

Granted I'm as bad as the next man when it comes to reading these things and they don't always make the most sense so I see why people are pissed off. That said it's bred a whole industry which is if anything even more shady. My dear old gran who sadly isn't sure which way is up these days was relieved of £200 by some delightful fellow who rang up and told her he would get all her money back from loans and credit cards (which she's never had) if she paid him £200 up front. Thankfully the bank managed to get the money back.