PPI payouts.... new info for anyone previously refused
Discussion
Oakey said:
Define 'good consumer'? I paid these loans and credit cards off but obviously had PPI with some of them, however, I was self employed at the time and I don't think I was actually eligible for any claim if I had income problems so was effectively paying for nothing.
you're right. but what have the businesses said? did they say there was no PPI or are they defending your complaint? if it's the latter then take it to FOS with their final response.TheAngryDog said:
Just been paid £3385.17 this morning. No letter yet oddly but it says ppi redress on the payment. Wasn't expecting it, nor that much. A nice thing to wake up to.
mine turned up like that, just logged on and was a bit confused as to why I was suddenly so not in the red. Never got a letter from them either
TTmonkey said:
TheAngryDog said:
Happy days .
Perhaps they prefer not to send a letter of shame?
Re ppi or Plevin, no idea lol. I reckon ppi though for that amount.
I hit £3500 for plevin, the interest really piles on when it was like 15 years ago.Perhaps they prefer not to send a letter of shame?
Re ppi or Plevin, no idea lol. I reckon ppi though for that amount.
CTO said:
Packaged bank accounts are the next ppi.
I currently have a claim going through with Barclays , going back to 2004.
What do you mean by 'packaged bank accounts'? I just stuck a complaint in to Natwest this morning for them pushing an Advantage Gold account on to me ("you absolutely need to upgrade your account sir if you want a loan / overdraft / etc") back in the early 2000s, think they charged me £5 a month for that.I currently have a claim going through with Barclays , going back to 2004.
Also received some money back from Natwest for PPI this morning (mainly interest again) which is a nice bonus.
TTmonkey said:
I was sold the premise of PPI that it was insurance for "if anything happens".
I took this to mean, and include redundancy. Wouldn't you?
Anyway, some years ago I got made redundant, and contacted my CC provider (barclaycard I think at the time) to query how I evoked the PPI .
I was then informed that the PPI would not payout until such times that I was effectively insolvent. It would then ONLY cover only my interest payments on the debt when I could no longer make payments. It would only pick up these minimum payments when everything else was gone, and there was no way of paying my debts.
As I had been given a reasonably generous redundancy payout, I was informed by the CC provider that I should immediately use this to clear my CC debt. I refused, pointing out that the redundancy payout was money provided by my employer to get me through a time of no income, to help keep a roof over my families head, whilst I searched for a new job. Put food in the table etc.
The CC provider said that it was in my best interest to clear my immediate CC debts. No, it wasn't.
As I had refused to clear the outstanding balance, and because I was now unemployed, they then altered my limits. They dropped my credit limit from 12k to 1k, making a balance of around £7000 payable within 60 days.
So I've no problem with perusing a refund to this useless product that has various exclusions.
And for those that said "should have read the small print". Well, none of the above was in the small print.
Almost exactly what happened to me. I had a Premier Account with Barclays and had a mortgage and Gold Card tied to the account. I remember being "sold" a PPI policy by my Premier Account advisor in the distant past as my employment was distinctly dodgy having been made redundant twice already with companies going into liquidation and the current job was a fixed term of 12 months at the time. Sure enough I was laid off before the 12 months was up and tried to claim on the policy but, like you, they said no chance and to make myself bankrupt and then claim, oh! and they kindly immediately cancelled my Gold Card and called in my overdraft to be repaid immediately which luckily was a minimal amount. When I got another job I moved my mortgage over to Nationwide and closed the Barclays account and there was not a word from them although I'd been a customer for 40 years at that point.I took this to mean, and include redundancy. Wouldn't you?
Anyway, some years ago I got made redundant, and contacted my CC provider (barclaycard I think at the time) to query how I evoked the PPI .
I was then informed that the PPI would not payout until such times that I was effectively insolvent. It would then ONLY cover only my interest payments on the debt when I could no longer make payments. It would only pick up these minimum payments when everything else was gone, and there was no way of paying my debts.
As I had been given a reasonably generous redundancy payout, I was informed by the CC provider that I should immediately use this to clear my CC debt. I refused, pointing out that the redundancy payout was money provided by my employer to get me through a time of no income, to help keep a roof over my families head, whilst I searched for a new job. Put food in the table etc.
The CC provider said that it was in my best interest to clear my immediate CC debts. No, it wasn't.
As I had refused to clear the outstanding balance, and because I was now unemployed, they then altered my limits. They dropped my credit limit from 12k to 1k, making a balance of around £7000 payable within 60 days.
So I've no problem with perusing a refund to this useless product that has various exclusions.
And for those that said "should have read the small print". Well, none of the above was in the small print.
As a result of those TV adverts I thought I would try and make a claim so followed the links online and whacked in a claim giving them all the information that I could remember. After a couple of weeks I got a letter from Barclays saying that I did in fact have a policy for PPI that was sold to me in 1992 and the claim was proceeding but they needed a whole raft of further information regarding my employment at that time, as I live overseas now the letter took 15 days to get to me giving me no time to gather the info and reply before their cut-off date so called them up and after a bit of faffing around with security questions they then told me that the info was not needed and the claim had progressed through to "claim calculations". They wouldn't give me any more information about how the claim was going to be worked out and said that they would be back in touch with the result before mid-July.
I've no idea how much it's going to be as I can't remember how long the PPI was kept running for after I tried to claim but I do remember it was quite a time before I got employed again.
WyrleyD said:
Almost exactly what happened to me. I had a Premier Account with Barclays and had a mortgage and Gold Card tied to the account. I remember being "sold" a PPI policy by my Premier Account advisor in the distant past as my employment was distinctly dodgy having been made redundant twice already with companies going into liquidation and the current job was a fixed term of 12 months at the time. Sure enough I was laid off before the 12 months was up and tried to claim on the policy but, like you, they said no chance and to make myself bankrupt and then claim, oh! and they kindly immediately cancelled my Gold Card and called in my overdraft to be repaid immediately which luckily was a minimal amount. When I got another job I moved my mortgage over to Nationwide and closed the Barclays account and there was not a word from them although I'd been a customer for 40 years at that point.
As a result of those TV adverts I thought I would try and make a claim so followed the links online and whacked in a claim giving them all the information that I could remember. After a couple of weeks I got a letter from Barclays saying that I did in fact have a policy for PPI that was sold to me in 1992 and the claim was proceeding but they needed a whole raft of further information regarding my employment at that time, as I live overseas now the letter took 15 days to get to me giving me no time to gather the info and reply before their cut-off date so called them up and after a bit of faffing around with security questions they then told me that the info was not needed and the claim had progressed through to "claim calculations". They wouldn't give me any more information about how the claim was going to be worked out and said that they would be back in touch with the result before mid-July.
I've no idea how much it's going to be as I can't remember how long the PPI was kept running for after I tried to claim but I do remember it was quite a time before I got employed again.
Good luck! I suspect that you may be in for a few quid. As a result of those TV adverts I thought I would try and make a claim so followed the links online and whacked in a claim giving them all the information that I could remember. After a couple of weeks I got a letter from Barclays saying that I did in fact have a policy for PPI that was sold to me in 1992 and the claim was proceeding but they needed a whole raft of further information regarding my employment at that time, as I live overseas now the letter took 15 days to get to me giving me no time to gather the info and reply before their cut-off date so called them up and after a bit of faffing around with security questions they then told me that the info was not needed and the claim had progressed through to "claim calculations". They wouldn't give me any more information about how the claim was going to be worked out and said that they would be back in touch with the result before mid-July.
I've no idea how much it's going to be as I can't remember how long the PPI was kept running for after I tried to claim but I do remember it was quite a time before I got employed again.
Gassing Station | Finance | Top of Page | What's New | My Stuff