PPI Confusion

[Oliver1975]

Hi everyone,

I've read through all these posts with great interest, but it doesn't seem as straightforward as claiming back the bank charges, as it's still in the early stages, and all cases are slightly different.

I took out a loan with Sainsbury's which included a huge chunk of PPI (I only realised that it was included after submitting a subject access request). I have since defaulted on the loan and am currently paying token payments (which still includes the PPI payments even though I'm obviously not eligible for cover - this is the bit that confuses me).

The loan was taken out when in financial difficulties, and I never asked for the PPI. I can see that I signed for it on the application form but there was no option on there to have it removed.

Is it worth trying anything do you think? Many thanks in advance for your help!!!

	Bank Charges You should have started your claim for your bank charges by now. Don't wait. You should send your bank a Subject Acess Request asking for all personal data they hold on you - not just statements. You should calculate all of your bank charges and related interest as far back as 1995. You should send your bank a demand for a refund giving them 7 days. You should commence your legal action adding 8% statutory interest. If you wait for the outcome of the test case, you may not be able to claim like this. you may not be able to claim interest. You may only be offered the difference between the charge and the OFT "fair charge". The repayment scheme will try to limit you to refinds from 2001 only. A repayment scheme will not deal with any bank charges related defaults on the credit register whereas in a court action you can ask for these to be removed and to be compensated for the damage caused to you and your family by them. You should also write to the bank and to the CRA and put all charges related credit entries in disupte and warn them that you will want them removed from the Register when the test case is over. Warn them also that you are likely to be seeking compensation for these wrongful data entries. Full and final settlement Have you previously accepted a partial repayment of your bank charges in full settlement? You will still be able to claim the rest of your money back after the Test case is decided. Get all your information back to 1995 and put in your claim now.

	Subject Access Request A Subject Access Request is a demand which you can make to any organisation to disclose any personal information which they hold on you. The right to disclosure of data is provided by the Data Protection Act. There is no time limit. The organisation is obliged to reveal everything they have about you - which you ask for - as far back as you ask for. There are very few exceptions. It does not matter whether the data is held on microfiche, in an archive, on tape, in a cardex system, in sound recordings or in screen notes. Some companies are saying that they do not have to disclose where it would be difficult to do so - "disproportionate effort". This is untrue. Disproportionate effort refers to something else under the Act. If you are seeking bank charges information then you should ask for "all data held on you" and you should make it clear that you want everything as far back as it goes. Do not be put off by excuses. Do not accept being fobbed off. It is not in your bank's interest to make full disclosure to you. This means that it is in your interests to get it. If you have not started gathering your bank charges information yet, then you should start now. There will soon be a big rush once the OFT test case has been settled. Get all of your bank account informtion as far back as possible. At least as far back as 1995. If your bank says that they don't keep data as far back as this, don't accept it. Be persistent. They've got what you need in some form or other.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[reidnet]

Hi Oliver,
Welcome to the confussing world of PPI..lol. You are right in the way that all PPI cases are different but basically the principles of complaining etc are the same in most cases.

There are different types of PPI Policies and you may still actually have cover depending on the policy, If it was a single payment policy eg this is where the lender pays the insurance company the full insurance premium from your agreed loan at the start of your loan. Basically you are buying a policy which the lender pays for staright away and you finance this from your loan.

I would ask them to confirm in writing if you are still covered with the PPI as you are still making payments for the PPI, I cant understand why you would not be covered. Unless there is a clause within the terms and conditions of the PPI or Loan that if you do default. If you have the Terms and Conditions there I would have a good read through them.

It is always worth Complaining to them that you had the PPI added as a condition of your loan, This is not allowed and the PPI should always be clearly optional. Depending on the date that your loan was taken out , If it was after 14th January 2005 they must also have shown clearly the cost of your actual loan with Interest and also the cost of the PPI with Interest as 2 seperate Items.

I have succesfully got a refund plus interest on 1 PPI that I was mis sold, and I am fighting over another one. I am also at the stage of heading to court with the second one, but I think it will be after Xmas before I get the paperwork etc sent off to Wolverhampton.

If you need any assistance feel free to give me a shout and I will try and help if I can.

I am no legal eagle..lol I have just spent several months doing a lot of research and reading up on PPI.

Good Luck M8

Ian

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.