PPI payouts.... new info for anyone previously refused
Discussion
coljoh148 said:
Can you claim from as far back as 2002?
Pretty sure i had some ppi slid into a finance package with Toyota. Sure I was told I had to have it to get accepted at the time. Very faint recollection obviously as it was 16 yrs ago.
Yes that's when the ones I've done are from, when I was young and naïve.Pretty sure i had some ppi slid into a finance package with Toyota. Sure I was told I had to have it to get accepted at the time. Very faint recollection obviously as it was 16 yrs ago.
coljoh148 said:
Can you claim from as far back as 2002?
Pretty sure i had some ppi slid into a finance package with Toyota. Sure I was told I had to have it to get accepted at the time. Very faint recollection obviously as it was 16 yrs ago.
that depends. most PPI sold with hire purchase agreements weren't regulated until regs came into effect in 2005, even then some weren't regulated until much later. if they weren't regulated then FOS won't be able to look into it.Pretty sure i had some ppi slid into a finance package with Toyota. Sure I was told I had to have it to get accepted at the time. Very faint recollection obviously as it was 16 yrs ago.
just email/contact FOS, tell them what you had, who it was with and any agreements etc.. and the date the policy was sold and they'll let you know if it can be looked into.
big banks can be looked into as far as the stone age.
Big thanks to the posters on this thread as it prompted me to make a claim on my credit card provider. I paid PPI for over 20 years. I have known I have had a strong case for miss-selling for quite a few years but hadn't done anything about it.
I hadn't really looked into how the banks calculate PPI refunds on credit cards so was expecting maybe £5k + statutory interest as I have had periods with a very high balance on the card.
Had an offer letter yesterday for a tad over £27,000! Looks like the bank treat the PPI payments as having to offset the balance on the card so pay interest on it at the rate charged on the card and then apply statutory interest to that?
I hadn't really looked into how the banks calculate PPI refunds on credit cards so was expecting maybe £5k + statutory interest as I have had periods with a very high balance on the card.
Had an offer letter yesterday for a tad over £27,000! Looks like the bank treat the PPI payments as having to offset the balance on the card so pay interest on it at the rate charged on the card and then apply statutory interest to that?
I've got one from Egg on the go currently, personal loan I took out year ago, circa 2002 iirc, to fund a car purchase (what else?!)
I'm also one of these people that NEVER takes out any additional insurance, and I genuinely had no idea I had ppi with the loan, I sent off a speculative query to them and it came back as having ppi on the loan.
I've lodged a complaint via their website (Citibank now) will see what happens.
I can't even remember how much the loan was, guessing around £5K, I was young and stupid....now I'm just stupid
I'm also one of these people that NEVER takes out any additional insurance, and I genuinely had no idea I had ppi with the loan, I sent off a speculative query to them and it came back as having ppi on the loan.
I've lodged a complaint via their website (Citibank now) will see what happens.
I can't even remember how much the loan was, guessing around £5K, I was young and stupid....now I'm just stupid
Just a heads up but if any of you ever had a bank account that had a monthly charge, for example Natwest Advantage Gold, you can complain about that and get refunds / interest on those as well. I did it through Resolver, my complaint was that I was hard sold the 'upgrade' and told it was required for any loans / overdraft I might want, which turned out to be BS.
Jordan210 said:
Gary29 said:
25p? I'm hoping for a little more than that to make it worth the effort 
Assuming you can contest the offer?
Im waiting to see all the paper work. Im hoping they have got something wrong ! Assuming you can contest the offer?
even more hilarious is when it goes through a CMC, how is the CMC even going to make money from an offer of £5 with all the time spent spekaing to the customer, sending out photo copies of FOS forms with their CMC stickers on it, and spending more time processing it and sending it to FOS.
ambuletz said:
it's really not that suprising for a store card, especially if you didn't spend much and you paid it back early. I have seen offers for less than that.
even more hilarious is when it goes through a CMC, how is the CMC even going to make money from an offer of £5 with all the time spent spekaing to the customer, sending out photo copies of FOS forms with their CMC stickers on it, and spending more time processing it and sending it to FOS.
I have now seen the paperwork.even more hilarious is when it goes through a CMC, how is the CMC even going to make money from an offer of £5 with all the time spent spekaing to the customer, sending out photo copies of FOS forms with their CMC stickers on it, and spending more time processing it and sending it to FOS.
What they have done is taken one month 2 years after the policy was taken out. On that month a payment of 11p for ppi was on it. They have added interest, take off tax and so on. Then basically it says that should cover it as they have no other records.
They seam to have missed the 23 months prior to thats worth of PPI and not said when the account was closed. My nan thinks its a good 5 years+ on top of the date of the 11p.
Edited by Jordan210 on Friday 20th July 09:58
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