PPI - Some notes for Claimants - Frequently Asked Questions & Discussion thread

[Space Monkey]

Hi,

 

I wonder if anyone can offer advice. I was made redundent from my job of 6 1/2 years in December 2004. I had PPI on my Barclayloan and Barclaycard and Believed I would be safely covered. I was bullied out of my job and was given no training and have still been unable to find a new job. the cover on my Barclayloan lasted for just a year, I was not informed this when I was sold it, and when I enquired initially after the payments had stopped, a member of Barclays staff told me the cover would continue. After no further payments were still made, I finally got someone to direct me to the small print of the contract. Due to a mix-up when my mother suddenly died, the Barclaycard was not paid for several months costing me a lot. All this time I was still having to pay the insurance, even while claiming on both and believe I paid far more than I recieved.

I now have a huge loan which seems no smaller which I am struggling a great deal to pay. Is there anything I can do. If I had know I was only covered for a year I wouldn't have taken the insurance and delt with the debt another way and wouldn't be in the great mess I am now.

Would be greatful for any help,

 

Kind Regards,

 

SM

[suzieblooz]

Hi reidnet, all they told me was that it was not possible to cancel as I had not done it within 28 days of signing up. I'll start my own thread on this eventually but I want to get my HBOS claim done first, one thing at a time!

[bennett01]

Hi

they said the same to me but but after the second letter I recieved 3 cheques in which PPI went back to to 2003 and with interest.

[Barobalti]

Perhaps a new thread is what I should be starting (will do, if so advised!) but my problem is that BoS / St Andrew's Group continue to move the goalposts re the reasons they would not entertain our PPI claim back in 2002.

 

"You can't claim via PPI because your wife's work is seasonal" we were told in a ‘phone call in 2002, when I lost my job.

 

(So, why did you allow me to sign for PPI in the first instance?)

 

THEN: When we started questioning this (with "CGA Enlightenment") in 2006, one Ms McCallum stated in a letter that the “seasonal occupation” clause had been misleading information from the start; however it would now appear that the reason I was deemed to have been ineligible for PPI was that I was made redundant within thirty days of signing the Loan Agreement. As this document was signed on 9th September, how could my date of leaving on 28th October possibly be “within thirty days”? Well, it seems that the “verbal notification of redundancy” (28th September 2002) was certainly “within thirty days” of signing for the loan. But how binding and enforceable is that?

I am questioning and challenging their definition of “notification of redundancy” and whether or not this clause was included in their policy at the relevant time. As I had no idea on 9th September 2002 that I was likely to lose my job in days to come, then how could BoS justify, in the name of all that is fair, their later refusal to honour PPI that I had paid for? What (say) if my former employer and I had formed a “gentlemen’s’ agreement” that the verbal notice of redundancy took place on 10th October in order to protect my PPI?

 

THEN: they start shifting the playing field level in terms of the definition of “redundancy” in that it is the verbal notification of redundancy (undocumented and uncorroborated?) carries more weight than the official date of termination of employment as per Form P45..

 

As St Andrew’s will no longer correspond with me directly I have written to the FOS to state that I reject the St Andrew’s Group findings and do not accept their definition of “redundancy”. I quote:

 

redun'dancy noun the state of being redundant; a dismissal, or a person dismissed, from a job because of redundancy; the presence of components which improve the reliability of a system (computing).

(Microsoft Encarta®)

redundancy noun (redundancies) 1 the state of being redundant, or an instance of this. 2 a the condition of being no longer needed in a company, organization, etc; b dismissal from work as a result of this; c someone who is dismissed in this way. 3 superfluity; the condition of being unnecessary to the meaning of the sentence, etc.

(Chambers Online reference)

 

This research appears to indicate that “dismissal” falls under the general definition of “redundancy”. I also disagree that verbal notice of unemployment should be construed as legally binding for these purposes.

 

Anyone suffering likewise, I’d be delighted to hear. Sorry to sound a bit like yoda, but I'm knackered and been on the CGA Forums all day!

 

Kind regards,

[reidnet]

Hi Ian,

It may be an Idea to start a seperate thread for your PPI, Just one idea if you can obtain a signed statement of truth form your ex employer that you were verbally informend on the 10th October that you were being made redundant, this would help you a great deal and of course is outwith their 30 Days.

 

Good Luck

 

Ian

[Barobalti]

Thanks Ian, bit NO CHANCE on the former employer initiative -- did not leave on the best of terms, and it is all carved in stone now anyway.

[jayenevin]

Hi All, I hope some of you can help.

 

I was sold a PPi policy with a loan that I had with HSBC. I was self employed at the time and HSBC knew this as my business accounts were with them. I then Refinanced this loan for a higher amount and again was sold the PPI policy even though I was self employed. I am now no longer self employed and work for a large company. I am still paying this loan.

My Question is, I know that I can claim for mis selling on the original loan but can i do the same on the second loan that I took out even though I am no longer self employed??

 

Regards

 

Jaye

[reidnet]

Hi Jaye,

I think the simple answer is YES you can claim for the mis-sold PPI on both loans. It may be advisable to start your own thread too, more people will be able to advise you there to.

 

I would need more Information on the type of policy that you were sold at the time on both loans, were these single premium policies ?, if so then I think they have added to your debt by selling this type of policy that is of no use to you and they should be made to rectify that.

 

If you need any help just shout or PM me

 

Good Luck

 

Ian

[jalex_uk]

I was sold PPI on a loan from SPPL back in June 2001. The loan was for £65k, and they added 9100 onto it for PPI in a lump sum, making the total amount of the loan £74.1k.

They then charged interest on the entire amount., on a monthly basis.

The insurance policy was non-refundable, and was due to last for 5 years (a much shorter period that the entire term of the loan). It wasn't even part-refundable in the event that I paid back the loan early (which I did 2 years later).

 

The loan was an "Unregulated Credit Agreement" secured on my property.

 

I was told when I agreed to the PPI that it was necessary to ensure the loan went through (which I since understand is untrue).

 

So I' have two questions:

 

1) Was I mis-sold this policy by being told I had to take out the PPI to make sure the loan was approved?

 

2) Does that fact that they added the PPI premium to the loan amount and charged interest on the total amount make the entire policy illegal and liable to be refunded?

 

3) Does the fact that it was an "Unregulated Credit Agreement" not covered by the CCA mean that I don't have a claim?

 

Many thanks to anyone who can offer any help!

[hellhasnofury]

I was sold PPI on a loan from SPPL back in June 2001. The loan was for £65k, and they added 9100 onto it for PPI in a lump sum, making the total amount of the loan £74.1k.

They then charged interest on the entire amount., on a monthly basis.

The insurance policy was non-refundable, and was due to last for 5 years (a much shorter period that the entire term of the loan). It wasn't even part-refundable in the event that I paid back the loan early (which I did 2 years later).

 

The loan was an "Unregulated Credit Agreement" secured on my property.

 

I was told when I agreed to the PPI that it was necessary to ensure the loan went through (which I since understand is untrue).

 

So I' have two questions:

 

1) Was I mis-sold this policy by being told I had to take out the PPI to make sure the loan was approved?

 

2) Does that fact that they added the PPI premium to the loan amount and charged interest on the total amount make the entire policy illegal and liable to be refunded?

 

3) Does the fact that it was an "Unregulated Credit Agreement" not covered by the CCA mean that I don't have a claim?

 

Many thanks to anyone who can offer any help!

 

Hello Jalex,

 

Best to start your own thread on the ppi section. any post you put on here may not be seen and you will not get the support and infor your need.

 

Question one yes:D

 

question two yes:D

 

questions three ????? maybe send a private message to one of the site helpers or modators for this advice. You need to read up on the CCA

[kippy2]

was told when I agreed to the PPI that it was necessary to ensure the loan went through (which I since understand is untrue).

 

 

3) Does the fact that it was an "Unregulated Credit Agreement" not covered by the CCA mean that I don't have a claim?

 

Many thanks to anyone who can offer any help!

 

tamadus one of the site helpers may be able to help with this. there is a CCA thread but rather long

[jalex_uk]

Thanks for the comments.. I've started my own thread on this over here:

 

http://www.consumeractiongroup.co.uk/forum/ppi/82669-ppi-claim-against-sppl.html#post738259

[Londoncitizen]

I just had a call from Lloyds to offer me a 'Goodwill Gesture' and repay part of the PPi, as apparently I had already recieved the remaining balance back when I paid my loan off early. I understand that I can also claim for interest. Not being great with Maths, could someone assist me in how to calculate the interest that I would be entitled to ask back for? Is it the statutory 8%? I really am not sure how to work it out. SOS, anyone !

[casbah]

Is their a template letter for claiming this back. I was told by Yes Car that I had to have it in order to get the HP and am wanting it paid back. many times I have asked them to cancel this insurence and they said that as it was paid in full by them at the outset of providing the policy that I could not cancel it. Grrrrr

 

Further to this........I have a car with Yes Car,now Direct Auto Finance, and under my contract it says that after I pay half the amount I can return the car and the loan will be finished, when I inquired about this, I was told that I could return the car but would still have the "insurances" to pay. I suggested that as there would not be anything to insure then I would not need to pay for the Insurance!!!! But was informed that the Insurances were paid in advanced and I still had this debt.

Also they charged me an interest rate of 14.9% on these "insurances" and I have just had to ring Yes Car and request the terms and conditions of the PPI which I wasn't given when I took out the loan. For a £4,000 car I am paying £8,100. which I think is extortionate. On receipt of the car there were quite a few things wrong with it, I complained but was told i'd signed the contract and that was that. Yes Car has gone bust so they are not selling any more vehicles, My mechanic has told me he doesn't think Direct Auti Finance can charge me for the PPI as there is nothing to insure. any ideas???

[hellhasnofury]

Hello,

 

If you post your questions on this sticky no one will be able to help you and follow your progress.

My advice is to read the different posts on the ppi threads to gain info about whether or not it has been mis-sold and how to reclaim in back.

 

Start your own new thread on the ppi forum and everybody will see and try to help you.

[SDC1]

Hi,

 

two things.. the first has been well covered here which is that I was told I could not take out a loan without the PPI when I applied to HSBC as an existing customer in 98. I had no reason to suspect otherwise but I asked if it was possible not to take it as it basically doubled the cost of my £8000 loan and was told no.

 

The second issue is that I moved to Ireland in 2001 (to the explict knowledge of my bank - as I had to change my address with them). I continued paying the loan and payment protection off until Jan 2005 when it was cleared. It is only recently that I discovered that for the whole time I was in Ireland my Protection was completely useless because I was not resident in the UK.

 

Should I bring this up with my bank?

 

thanks

[hellhasnofury]

Hi,

 

two things.. the first has been well covered here which is that I was told I could not take out a loan without the PPI when I applied to HSBC as an existing customer in 98. I had no reason to suspect otherwise but I asked if it was possible not to take it as it basically doubled the cost of my £8000 loan and was told no.

 

The second issue is that I moved to Ireland in 2001 (to the explict knowledge of my bank - as I had to change my address with them). I continued paying the loan and payment protection off until Jan 2005 when it was cleared. It is only recently that I discovered that for the whole time I was in Ireland my Protection was completely useless because I was not resident in the UK.

 

Should I bring this up with my bank?

thanks

 

Please read the above post and start your own thread on the ppi forum

 

When you click on the ppi forum on the front page you will see in the left top hand corner "new thread", click on there and hey presto.Then leave you information and questions:D

[SDC1]

Please read the above post and start your own thread on the ppi forum

 

When you click on the ppi forum on the front page you will see in the left top hand corner "new thread", click on there and hey presto.Then leave you information and questions:D

Sorry, I'm new to this and the jargon is unfamilar.

 

I just saw that a lot of people had been replied to here so I figured I would too. Anyway I've taken your advice and posted my own thread now.

[matt_smith2000]

Hello

 

I sent a prelimiary letter on the 17th may. I haven't heard anything.

 

How long do I leave it, and do I send an LBA? If so, is there a template for the LBA? Also, I only claimed 8% APR, but it looks like I should have done it at contraual. Stupod question, but what is the contractual rate? the bank is RBS.

 

A section on letter templates would, I think, be a very very good idea.

 

Regards

 

Matt

[BaldyBaldwin]

just tagging on, gearing up for claim against halifax

[BaldyBaldwin]

quick question. . . i had 2 loans with halifax which i only found out about after a DPA request about charges, never told about it, never saw policy.

haver now got insurers name and address, so, my question is, should i send them a SAR reuest or a DPA request??

any help always appreciated

BB

[BaldyBaldwin]

ooopps. . . ment a CCA request and not a SAR , well it has been a long day

[horseychick]

Hi i was wondering if you could help.i took a new loan out in november 2006 to consolidate my debt.i was advised to take ppi as it was a large amount i was taken out,i told the personal banker that i had a bad back,but he never said if i ever claimed on my back THEY WOULD NOT PAY OUT! so i really think he missold the ppi to me! because just after new year.i could not go back to work with my back,so as usual away i went to pay for my treatment at the osteopath.in feb my disc in my lower back had burst,so i,ve tried to claim & they are saying it was a pre- existing condition.i have paided for the operation private & which has cost me a lot of money.how can this be pre-existing as i never had an operation on my back before!! can you help in this situation.

 

regards horseychick.

[BaldyBaldwin]

hi horsey,

sounds like you have a good case there, if you informed them of your bad back at time of taking out the PPI, you were telling them of a pre-existing condition and they should have checked the suitability of the policy they were selling you.

IMHO you should now do a SAR to the insurers to get all the relevant paperwork and see what turns up

 

regards BB

[reidnet]

Have to agree with BB on that one, Get all the info from them that you can before you start your claim for mis-selling.

 

Ian