Problems with PPI

[GD54]

Hi there I'm new to the forums, so plese forgive me if I ramble on a tad.

 

I have a credit card and a personal loan with two different companies, each of which is covered by a PPI agreement issued by St Andrews Insurance. About twelve months ago I was made redundant when the business I was a director of closed down. I claimed under my PPI and was amazed to be told that under the terms of my PPI, I was not elligable for cover on either of my policies. I challenged this decision with the insurance company unsuccessfully and so complained to the financial ombudsman, who eventually decided in my favour. I have not yet received any correspondence from the insurance company to this effect, but expect to do so in the near future. My problem is that I was unable to maintain payments on my accounts (I had, I thought taken the responsible course of action in taking out cover in the first place) and as such, each account went into default, despite my explaining that I was awaiting a decision by the Finance Ombudsman, and has as far as I am aware been sold on to a debt collection agency.

 

Now, I am confident that each debt will be settled just as soon as the insurance company pays out on my policies, but of course my credit rating is now destroyed. My question is: is there any way I can get these defaults and any other negative comments removed from my credit history, and not just marked as settled when the outstanding amount is paid? I do not feel it is fair that my reputation should suffer as a result of a poor decision made by an insurance company.

[alanalana]

It looks like the PPI issue has been addressed by the FOS and result from the insurance company pending. On the subject of defaults and credit ratings please see these forums...

 

Debt Collection Industry

 

Legal Issues

 

If you believe you can get more help in one of these threads having browsed them just shout and I will move your thread.

 

aa

[GD54]

Great news - I just got a letter from the Financial Ombudsman who has found in my favour, instructing St Andrews to pay all monnies due +8%. He has also instructed St Andrews to work on my behalf to have any default notices etc. removed from my credit record.

[alanalana]

Great news - I just got a letter from the Financial Ombudsman who has found in my favour, instructing St Andrews to pay all monnies due +8%. He has also instructed St Andrews to work on my behalf to have any default notices etc. removed from my credit record.

 

WELL DONE.

 

Please post in the PPI successes thread in the stickies at the top of the page when the money is in the wallet.

 

aa