Jump to content


help! ppi not paying out, have i been mis-sold?


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4406 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

hi, my wife and i have a secured loan which we took out with picture, we were both recently made unemployed so tried to claim the payment protection insurance on our loan however they refused to pay out saying that i was not covered for unemployment as i had been self employed and that they would not pay out for my wife either because she had only been with her current employer for 5 months and that temporary employmrnt wasn't covered either.

we were unable to make our payments for 2 months as a result and they are now demanding that we make a payment of £550 by the 21st of may of we will lose several no claims bonuses we are due from the ppi, the first of whish is £1400 which we are due in august.

i am now working but with all other bills including mays installment i don't see where i will find an extra £550.

i can't believe they wouldn't pay out on the ppi and may now take our no claims money when we haven't made a succesful claim. i am a bit confused and would appreciate some advice. richard.

Link to post
Share on other sites

Sounds like it, have a read round the PPI forums and I am sure someone will be along to help you soon. :)

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Link to post
Share on other sites
hi, my wife and i have a secured loan which we took out with picture, we were both recently made unemployed so tried to claim the payment protection insurance on our loan however they refused to pay out saying that i was not covered for unemployment as i had been self employed and that they would not pay out for my wife either because she had only been with her current employer for 5 months and that temporary employmrnt wasn't covered either.

we were unable to make our payments for 2 months as a result and they are now demanding that we make a payment of £550 by the 21st of may of we will lose several no claims bonuses we are due from the ppi, (why continue to pay if you are not covered?) the first of whish is £1400 which we are due in august.

i am now working but with all other bills including mays installment i don't see where i will find an extra £550.

i can't believe they wouldn't pay out on the ppi and may now take our no claims money when we haven't made a succesful claim. i am a bit confused and would appreciate some advice. richard.

 

This looks like a clear case of mis-selling IMO.

 

My advice is to start by send a Subject Access Request with the statutory fee of £10.00. Check the forum stickies for more information and libraries for a SAR template.

 

They should produce within 40 days:

A true copy of the Consumer Credit Agreement with the terms and conditions applicable to that agreement at the time the loan was taken out.

Copies of all statements up to date,

Copies of all correspondence letter, email.

Copy of the needs and wants questionnaire/customer duty of care questionnaire that they should have completed at the point of sale to ensure the product was suitable for you (clearly it was not).

All other data applicable to you as a data subject that they hold in whatever format paper, electronic, CD, microfische, tapes of transcripts of tapes of telephone conversations.

 

If you do not get a response within 40 days, bang in a complaint to the Information Commissioner Office.

 

As you have now found out the PPI is worthless to you and you are inelligible to make a claim, You should consider cancelling.

 

If you have paid PPI payments for any lenth of time xx months work out what you have paid in premiums including the interest and see how much you have paid.

 

By cancelling you would:

 

Cease paying any more PPI premiums. (Saving) Try though to get cover elswhere google or Money Saving Expert will help here.

 

Be able to claim for mis-selling and ask for all the premiums paid with the interest on those premiums.

 

If they respond with a refusal or fail to respond at all within 8 weeks you can complain to the Financial Ombudsman Service or Court if you go to court and lose the FOS will not take up your claim if you go via the FOS route it will take months but if they do not uphold your complaint you can then proceed to Court to claim mis-selling.

 

The FOS would more than likely also get you the Statutory 8% interest on top as they did with my own case.

 

Try and work out firstly if the premiums paid are anything like the no claims bonus you are due.

 

I do not believe any no claims bonuses would match anything like the amounts of PPI premiums you would pay over the life of the loan. Worth checking this out.

 

hope this helps;)

 

aa

I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

------------------------------------------------

Bank charge successes:

Halifax - Full settlement incl interest.

HSBC - Settlement, goodwill no admission of liability about 75% of claim.

RBS - Settlement, goodwill no admission of liability about 70% of claim.

2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did :mad:

PPI Successes

PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.

2 claims settled in full with LV without FOS involvement.

2 claims settled in full with HSBC without FOS involvement

 

PPI Claims ongoing with:

Cap one Now with the FOS

Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.

LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

***RBS PPI Claim Long fight but, WON***

 

Please do not PM me for advice as it may be sometime before I can respond.

 

Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.

 

Link to post
Share on other sites

hi, thanks for your reply. i am not sure exactly how much the ppi is per month as the total ammount for the ppi was £5,988.00 which was just added to the loan at the start and i believe is spread over the life of the loan which is over 240 months. i also think that this only covers us for the first 5 years which it didn't anyway.

Link to post
Share on other sites

Were you self employed at the when you took out this loan - also check the exclusions in the policy booklet - if it definatley says no self employed then yes mis-sold.

 

Had your wife just started a new job - was this supposed to be a permanant contract that was made redundant?

If so they cannot claim temporary contract.

 

If you don't mind me asking who is the insurer??

Link to post
Share on other sites

Ref my post 3 here is the link to a template for the SAR.

 

Data Protection Act 1998 - Subject Access Request

 

aa

I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

------------------------------------------------

Bank charge successes:

Halifax - Full settlement incl interest.

HSBC - Settlement, goodwill no admission of liability about 75% of claim.

RBS - Settlement, goodwill no admission of liability about 70% of claim.

2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did :mad:

PPI Successes

PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.

2 claims settled in full with LV without FOS involvement.

2 claims settled in full with HSBC without FOS involvement

 

PPI Claims ongoing with:

Cap one Now with the FOS

Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.

LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc

 

1 Complaint not upheld by FOS they said it was ICO issue. Complaint upheld by ICO. See this..

Post 290 from

***RBS PPI Claim Long fight but, WON***

 

Please do not PM me for advice as it may be sometime before I can respond.

 

Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.

 

Link to post
Share on other sites
  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...