PPI Progress?

[Topicel]

Hi, just joined as I have been impressed with the community and advice here for some months and thought I'd become a more active user. I was a multiple claimant just before the PPI deadline across a range of companies and types of product that I believed might have held and been mis-sold PPI but the only responses I ever get were 'no PPI included' etc. etc. Some make out it was there but no premiums paid, many fail to give a reason or even card ending or loan numbers so one wonders how genuine the responses actually were. But mostly I was wondering how are the pre-deadline complaints actually being processed now? We heard a little before Xmas that companies were setting aside more millions/billions, but almost nothing of late and certainly no coverage about the success rate. Is it all being swept away as it is over and done with as far as the media is concerned? I reckon I made 27 complaints, and my batting average is a big fat zero! Is that the case with other forum members?

[monsal]

There could be a multitude of reasons and I speak as someone who dealt with PPI complaints.
If no premiums were paid, this could mean that you paid off any balance in full each month. You only paid PPI on outstanding balances.
Have you provided evidence yourself of PPI, particularly on old loans. All companies with have document retention periods which they have to stick to, so they comply with GDPR / Data Principles. They cannot check or see what they do not have.
And lastly....having PPI does not mean that it was automatically mis sold. You say you made 27 complaints. That's a lot od monthly statements you would have received that would have shown if you had PPI or not, or were these just speculative enquiries rather than complaints?
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[Topicel]

Thanks Monsal for your thoughts, especially as you have a background in dealing with PPI complaints. I am intrigued by your comment that PPI shows up clearly on old statements - I was not aware of this. It was my understanding that the PPI was something of a hidden charge within your repayments and not clearly identified as being a component of what the credit card company was adding within the interest portion.

I can accept the cards that were cleared each month promptly would not have created a PPI charge, but I had a variety of balances in addition to those with a 'clean' payment record. Moreover, I have been told by one bank I was never a customer of theirs!

As for loans, yes, I had the evidence of the PPI and yet again the bank involved - Barclays - simply rejected I ever had the loan I was complaining about with them and found another I knew nothing about instead - with no PPI. This was despite me giving them the full details of the original policy and loan account number!

So, I say again, is my batting average replicated by others in the post-deadline cases? I am surely not alone...

[monsal]

Credit card statements would have always shown the PPI as a separate item if it was there. Its a myth perpetuated by Claims Management Companies that it was hidden.
Did you provide the evidence to Barclays? How long ago was this? If it was within the last six months and they have provided a Final response you can take your complaint to the Ombudsman. Be aware however that uphold rates are low and that a strong genuine case is required.
I say again, that just because its there doesn't mean it was mis sold, but only you will know that

[Topicel]

Ok, so all the cases where PPI mis-selling has been proven (in some instances reported as 95% upheld) were not genuine cases? The implication is the £50b paid out or still set aside is but a figment of the CMC's imaginations?! There have been millions of successful complaints and payouts - all clearly stated on the credit card statements that they had PPI and folks just happily went along with it?

I can quote one letter from Tesco we received that upheld our complaint that we had PPI but said no payout was due as we never paid any premiums. They also sent other letters maintaining no PPI, or we're looking into they policy, before coming back with a 'no claim' missive. They never quoted any card numbers - as I had done - and as we were into a new house at the time we certainly had credit balances in the red. Having worked in PPI for a decade I would have known all about it.

Ultimately these cases since August have been swept under the carpet. Nobody seems in the least bit interested in pursuing the claims success rate since then, and cover up is my instinct as the media have moved on. As for the loan, the evidence to Barclays was complete, they just deny it existed! I went to the Ombudsman on January 2nd (with scans of all the paperwork) and they just say follow it up with Barclays. Like I say, at that time I was working for a company selling what was known as Permanent Health Insurance and we were covered of course as employees, so I didn't need PPI but, as ever, was told it was necessary for the loan to be approved.

You seem to be missing the basic point that people were mis-sold in their millions once, but since August the deadline has been used it would seem as an opportunity to stall and deflect. Tesco were notorious for that if you read back on these and other forum pages, so I believe that remains their fallback position now. After all is said and done, the poor old Ombudsman must be very busy!

[monsal]

I am just trying to be objective here and set expectations accordingly. The outcomes are available from the FOS website if you want to have a look at any point.. Just search for decisions and you will see the uphold rate.
The figures for payouts are often masked by the fact that many firms will Auto Payout below a certain amount. This avoids a fee they will pay for cases going to FOS and the subsequent time it takes to investigate.
Payout rates are significantly higher for front loaded as opposed to monthly PPI and so yes, some stats can be much hgher.

I am really not looking to judge you, but trying to be honest. Yes there was huge mis selling in many areas and this should never have happened. There was also a use for PPI in others. I stand by my statement that just because a person may have had PPI, it doesn't automatically mean it was missold.

If you absolutely feel you were missold then obviously push as hard as you can. I can only say that having had PPI in the past on cards and loans, I always knew it was there and could have / and did cancel it when I felt it was appropriate to do so.

I personally don't think they have been swept under the carpet. Firms are still having to pay large numbers of staff to deal with huge backlogs. Its in their interest to get these sorted but it will take time. I saw as many "claims" on the 29th August as I had seen in the previous three months. The majority of these had never been sold MPPI. They take time to investigate.

But if you have the evidence and a genuine case, then press ahead as nobody should ever be sold anything that has no benefit to them.