PPI new claim

[zeitgit]

I'm still confused. would appreciate step by step help. And do time limits apply? Cheers. zeitgit

[CYNthesys]

Re: PPI new claim

Hi sis

Ive never taken out PPI, so cant help you on this.

Whats the problem? Are you still paying PPI despite retiring a few years ago?

[zeitgit]

Re: PPI new claim

Hi sis. PPI paid out for everything when lost employment. Paid off in full by 2003-ish. Am aware of time limits for bank charges but thought had heard perhaps different for PPI. Also, could I still reclaim bank charges under 'hardship'?

[di30]

Re: PPI new claim

Hi there

Do not worry about the time limit, many have been successful with accounts taken out pre 90's, if you have your reasons and the account number, you can therefore continue.

You can optionally request for a Subject Access Request (SAR) for your paperwork if required, this may help if you've no paperwork at all, and towards your calculations etc, but otherwise continue to make a reclaim.

Let us know if you require help from here, for example, the procedures on how to make a reclaim etc.

[zeitgit]

Re: PPI new claim

Thank you. Would greatly appreciate your help, step by step would be great. Have copies of everything.

[di30]

Re: PPI new claim

Thank you. Would greatly appreciate your help, step by step would be great. Have copies of everything.

That ia fab, and in this case, if you have copies of paperwork, that will save you money on requesting a SAR, good one!

[di30]

Re: PPI new claim

The Financial Ombudsman Service (FOS) issued Complaint forms to use to send to the business who sold and set up your account, you can therefore complete the form and send to the business responsible for mis selling you the policy.
http://www.financial-ombudsman.org.u...stionnaire.doc

This saves time later on, for example, if you were not happy with the final outcome, you can send the FOS a copy of the completed form you sent the business you complained to.

The form as on the link above is rather straight forward, when it comes to the question about the account numbers, generally the account numbers is the same as the loan and or the credit card account numbers.

They do give you space later on in the form if you want to give further information to support your complaint.

You do not have to know the actual figures to make a reclaiming complaint, because they should send you a breakdown on how they came to the figure, so bascially if they for example upheld in your favour: they should pay you back all the premiums you paid to date, plus the appropriate interest, and calculate within the guidelines of the FOS.

Some may come back with an offer, for example, if they do not have all the paperwork they may come to an offer (as in your case, you confirm you do have copies of the paperwork, so if it comes to it, you can send them (copies) of yours later on for them to work on.
They can still uphold even if they don't think they did mis-sell the policy, as a goodwill gesture.

Anyway, when you do make a reclaim with your reasons, keep copies of everything, in case you do have to refer back to it again at some point.

They generally have 8 weeks to send a decision, they may ask for more time if required, but should keep you updated.
When you send in the complaint, you should receive confirmation letter within a week or 2.
It is suggested to post by signed for recorded delivery - for your proof of posting, you can check the status of delivery on The Royal Mail Website, via Track & Trace.

Below is a link to the understanding calculations, posted by our Turbo/Billk etc, but you can of course post up any figures you may have and any problems in working them out, I'm sure they will be checked in due course.
But if you do not receive a breakdown when successful, you can ask the business to send them to you on request.

http://www.legalbeagles.info/forums/...play.php?f=277

Going back to the decision, they should in the final decision, enclose details of the FOS if eligible, so if your not happy, and if they do not give you the opportunity to write back with further information, you can complain to the FOS. This is the letter where they should also enclose leaflet details of the FOS on how to make a complaint to this business.

Hope this info helps for now, but post up further for any help.

Good luck.

[zeitgit]

Re: PPI new claim

Wow. Full response but it sounds clear enough. Nice one, thank you. Time to dig out the files. wish me luck.

[di30]

Re: PPI new claim

Wow. Full response but it sounds clear enough. Nice one, thank you. Time to dig out the files. wish me luck.

Your very welcome and the best of luck.

Please keep us posted and ask for any help anytime x

[Bill-K]

Re: PPI new claim

Hi Zeitgit,

I see Di has given you some good help and advice already. It's a good idea to try and get some idea of what amount you are expecting to reclaim, while you are waiting for a response to your initial claim. there are basically two types of PPI.

One is Single Premium PPI (SPI), which is usually charged on fixed-amount loans as a single 'upfront' premium which is added to the loan amount, and which you then repay as a part of your monthly repayments.

The other is credit card PPI, which is applied to all sorts of card accounts, as well as catalogue accounts and other types of 'revolving credit. This is charged each month as a percentage of the balance, so it varies in line with the balance owing.

You seem to have all the records, so you should be able to put the figures into a separate spreadsheet for each account, and this will then calculate what amount to expect. Any amounts paid out under the insurance must of course be deducted from the total.

Any loans which were 'consolidated' by being incorporated into another loan will also need a bit of extra attention, but we can help with this. I've attached one of each type of spreadsheet below. Any problems, let us know.

[zeitgit]

Re: PPI new claim

Thanks for that Bill-K. Gearing up to attack PPI tripe this weekend. Let's see how it goes... zeitgit