Have I been mis-sold PPI?

[lsubiela]

Hi all,

I have read through a number of threads but still find myself a little confused as to whether or not I have been mis-sold PPI. Can anyone confirm if any of the following constitutes the mis-selling of PPI:

 

1) Whilst the PPI was shown seperately on the face of my loan agreement interest was added to the full amount.

 

2) My loan was repayable over 7 years and my PPI only covers me for 5, this was never mentioned when taking out the PPI.

 

3) A couple of months into the loan I attempted to cancel the PPI but was told I would need to refinance it by taking out a loan to the same value of the PPI, an option I never took up.

 

4) It was not asked if I had any other form of insurance that covered me for the same thing or indeed that there were alternatives.

 

Any help is greatly appreciated.

[patrickq1]

3) A couple of months into the loan I attempted to cancel the PPI but was told I would need to refinance it by taking out a loan to the same value of the PPI, an option I never took up.

you have the right to cancel the ppi also you need to contact the FSA about the insurance cover you already have mentioning the fact that you had made them aware of your insurance status.in fact the loan should be cheaper and if they are trying to increase the loan, i think they are on a hiding to nothing...did you sign for the ppi or did you feel that undue preaure was brought upon you to sign...if so this is mis selling...first of all put your complaint to the FSA explain the undue preasure and your own alternative cover..it is very likely you may be able to reclaim whatever you paid into this ppi...

patrickq1

[alanalana]

Hello isubiela,

 

Hi all,

I have read through a number of threads but still find myself a little confused as to whether or not I have been mis-sold PPI. Can anyone confirm if any of the following constitutes the mis-selling of PPI:

 

1) Whilst the PPI was shown seperately on the face of my loan agreement interest was added to the full amount. (Mis-sold)

 

2) My loan was repayable over 7 years and my PPI only covers me for 5, this was never mentioned when taking out the PPI. (Mis-sold)

 

3) A couple of months into the loan I attempted to cancel the PPI but was told I would need to refinance it by taking out a loan to the same value of the PPI, an option I never took up.

 

4) It was not asked if I had any other form of insurance that covered me for the same thing or indeed that there were alternatives. (Mis-sold)

 

Any help is greatly appreciated.

 

To get you started have a look through these links. IMO you have a case to reclaim.

 

PPI - Some Notes for Claimants..

 

For claims before 2005 and the FSA ruling from which campaign

How to tell if you’ve been mis-sold PPI

 

Quick check: were you mis-sold? - How to tell if you’ve been mis-sold PPI

 

This is a little snippet from the above link....

 

Can I reclaim on any PPI policy?

Your claim for compensation is dependent on when you took the insurance. PPI sales only came under the jurisdiction of the FSA on 14 January 2005. Any sales made before then are not covered by the latest rules.

However, it may still be worth complaining to your lender if you feel you have been mis-sold. If you bought before January 2005 it is likely that they will have been covered by a previous regime of rules. This means that the Financial Ombudsman Service will be able to consider these complaints. If you took PPI after January 2005, your claim is subject to the latest rules.

 

Once you have decided then the first action is to send a Subject Access Request with the statutory £10.00 fee.

 

Template letters here:

Data Protection Act 1998 - Subject Access Request

 

Full SAR for ppi

 

In your SAR you should specifically request the following:

 

You should request the following documents:

 

A true copy of your Consumer Credit Agreement with the Terms and Conditions that were applicable at the time you took the loan.

 

Copies of all statements applicable to the loan.

 

Copies of all correspondence that apply to you as a data subject ie letters, emails, faxes etc.

 

Copies of all recorded telephone calls or transcripts of the recordings.

 

A copy of the needs and wants/ customer duty of care questionnaire... here is an example.

 

http://wwwa.mbna.co.uk/insurance/files/CP0608_INSU_MB_LP_S.pdf

 

Copies of any notes made by LTSB staff in their dealings with you.

 

There is much more information in here that should help you along the way.

 

links

 

good luck;)

 

aa