PPI payouts.... new info for anyone previously refused

PPI payouts.... new info for anyone previously refused

Author
Discussion

ambuletz

10,691 posts

180 months

Friday 6th October 2017
quotequote all
kiethton said:
Does this apply to just banks or car finance (via dealerships) too?

I've never had it but think my mum did for finance taken out in '05 (Renault for a nearly new Ford if that matters)
well they use some kind of broker/lender or finance company. it's ANYTHING that had PPI attached to it. from huge things such as mortgages right down to store cards and everything in between. some kind of big lending like a mortgage is unlikely to have you getting a payout (because it's actually useful), it just depends on peoples circumstances at the time.

Prinny

1,669 posts

98 months

Wednesday 22nd November 2017
quotequote all
TTmonkey said:
Patch1875 said:
TTmonkey said:
You are exactly th person this applies to.
It doesn't matter that you agreed to it, what matters is that the product was missold as they didn't declare they were making a massive ongoing commission from every payment made. They should have told you this but they didn't therefore it was missold.
I also got rejected by the ombudsman as well?
yes me too, but now the rules have effectively been changed. Now they are saying that because they took such huge amounts of money in undisclosed commission, then it was so vastly weighed in their interest to have customers pay PPI payments that they weren't looking after the customer. Commision levels need to be fair and also need to be disclosed. Every time you paid your ppi insurance premium (monthly remember) the bank was taking two thirds of it for them selves.
Just to highlight this - I was similar to the above in that I’d been refused before. I applied anyway on the basis of TTMonkey’s statements. Just received the letter today, I am now ‘accepted’, and >£5k now coming my way. woohoo

So if you’re thinking - “I was refused before”, do it - It cost me a stamp (I still have some 2012 olympic ones left!).

Thanks to TTMonkey too! beer

jesta1865

3,448 posts

208 months

Wednesday 22nd November 2017
quotequote all
I suspect I'll be told not to, but does anyone have a recommendation for a company to pursue this for my wife and me?

The reason we are not going direct is that we are in the process of emigrating to New Zealand (if the bloody visas are ever stamped) and we have 1001 things to do already.

I don't mind paying a fee/commission to a company to if they do the work for us etc.

I was turned down by the ombudsman 2 or 3 years back, and at the time we went with it.

The worst they can do is turn us down again.

Prinny

1,669 posts

98 months

Wednesday 22nd November 2017
quotequote all
@ Jesta- seriously, you’ll lose somewhere in the region of >25% by doing that!

Just reply back to the bank(s) you tried with before, referencing your previous letter & mentioning that:

“due to the recent Supreme court decision around levels of commission not being adequately explained - i.e. the Plevin ruling, you’d like them to review your account? Please...”

Something along those lines - (I don’t have my actual letter with me for reference, but that was the gist) should be all that’s needed. Took me 5 minutes to type up, on the basis of the reference number they gave me on the initially refused complaint.

I have no idea how much you’re possibly losing out of by using a CMC, but 100% of your dues is always going to be better than 75%!

Take my example - would you really, happily give someone 1250, just for writing that letter? yikes


CoolHands

18,496 posts

194 months

Wednesday 22nd November 2017
quotequote all
I'm sure I never had it, but how can I be sure? Are any of you using a 3rd party company to do the digging?

ambuletz

10,691 posts

180 months

Wednesday 22nd November 2017
quotequote all
jesta1865 said:
I suspect I'll be told not to, but does anyone have a recommendation for a company to pursue this for my wife and me?
Just do it yourself. it doesn't matter. even if you are living abroad FOS can send mail internationally, or email you. there is absolutely no need to go through a CMC.

as for plevin. all you have to do is clearly mention commision in your complaint form.

You can always make a complaint through resolver, which will then be sent to the business, if the business don't respond within the 8 weeks then it gets forwarded straight to FOS.

IMO you're better off just going directly through FOS, have them raise the complaint on your behalf, sometimes resolver doesn't always forward it after the business' deadline is up.. if you make a complaint through FOS they contact the business and the business get in contact with you fairly sharpish.

if you can find a way of finding out what/all things you could make a claim against, without using a cmc, then that would be best.

Edited by ambuletz on Wednesday 22 November 17:55

57Ford

3,937 posts

133 months

Wednesday 22nd November 2017
quotequote all
CoolHands said:
I'm sure I never had it, but how can I be sure? Are any of you using a 3rd party company to do the digging?
Maybe it wouldn’t hurt to check mine but are any of these claim-companies worth dealing with to do the digging? If I tell them who I am will that be the end of the questions or will I still have to dig through my own records for the last 30 years for all accounts, loans, credit cards anyway? If so, I can’t be arsed because I think I’ve always declined so if there is any due back, it can’t be much.

TTmonkey

Original Poster:

20,911 posts

246 months

Wednesday 22nd November 2017
quotequote all
Prinny said:
Just to highlight this - I was similar to the above in that I’d been refused before. I applied anyway on the basis of TTMonkey’s statements. Just received the letter today, I am now ‘accepted’, and >£5k now coming my way. woohoo

So if you’re thinking - “I was refused before”, do it - It cost me a stamp (I still have some 2012 olympic ones left!).

Thanks to TTMonkey too! beer
Cool. Can't take the beer but if you could chuck a fiver in Poppy collection type thing that would be great!

Still arguing with Barclays on mine they are being twunts.

ChrisNic

592 posts

145 months

Wednesday 22nd November 2017
quotequote all
This thread has giving me a nudge to have another crack at this.

My wife had a loan and credit card with the Halifax both with PPI. We had a successful claim on the loan and didn’t fight the rejection on the credit card.

I’ve covered all bases with a Plevin claim through resolva and a fresh complaint direct with Halifax (apparently you can log a new complaint even if the old was rejected).

Prinny

1,669 posts

98 months

Wednesday 22nd November 2017
quotequote all
TTmonkey said:
Cool. Can't take the beer but if you could chuck a fiver in Poppy collection type thing that would be great!

Still arguing with Barclays on mine they are being twunts.
Will do! Best of luck with Barclays...

rfisher

5,024 posts

282 months

Wednesday 22nd November 2017
quotequote all
Does mortgage payment protection count for this?

I had this in 2001 when I took out a mortgage with Northern Rock.

Just ticked a box on the mortgage application form - no explanation given by the NR and I didn't need it.

Wasn't cheap either, not helped by the 7% interest rate I was paying on the mortgage!

jesta1865

3,448 posts

208 months

Friday 24th November 2017
quotequote all
Prinny said:
@ Jesta- seriously, you’ll lose somewhere in the region of >25% by doing that!

Just reply back to the bank(s) you tried with before, referencing your previous letter & mentioning that:

“due to the recent Supreme court decision around levels of commission not being adequately explained - i.e. the Plevin ruling, you’d like them to review your account? Please...”

Something along those lines - (I don’t have my actual letter with me for reference, but that was the gist) should be all that’s needed. Took me 5 minutes to type up, on the basis of the reference number they gave me on the initially refused complaint.

I have no idea how much you’re possibly losing out of by using a CMC, but 100% of your dues is always going to be better than 75%!

Take my example - would you really, happily give someone 1250, just for writing that letter? yikes
to be honest yes, as i said I am trying to arrange a move abroad, and we have less than 5 weeks. visas, medicals, shipping agents, money transfer people etc

at present i have nothing back from the last claim, 50% of anything they owe us is better than what we have got so far.

Funk

26,254 posts

208 months

Friday 24th November 2017
quotequote all
I'm pretty certain I've never taken out PPI on any borrowing over the years although someone pointed out to me that part of the problem was that it was often added on without the explicit knowledge of the customer.

I haven't got any debt other than the mortgage now and I've only kept records going back about 7 years. I can't recall many of the lenders I've used in previous years and some have been bought out/sold on to other companies.

Is there a way of finding out historical information with relatively little to go on?

xjay1337

15,966 posts

117 months

Friday 24th November 2017
quotequote all
I guess it wouldn't show up on your credit history?

R8Steve

4,150 posts

174 months

Friday 24th November 2017
quotequote all
xjay1337 said:
I guess it wouldn't show up on your credit history?
Only shows 6 years.

You can just write to all the big financial institutions and see if you get a hit. That's what the CMC's would do.

stongle

5,910 posts

161 months

Friday 24th November 2017
quotequote all
Lots of banks / credit card providers have web portals you can complete. Takes a few minutes. Barclaycard took 5 weeks to process; but I only had to fill in the web portal questionnaire. You only need a rough idea of "if you had a card" and where you lived at the time and if you have a valid claim - away you go. £3.5k refund for less than 10mins work.

MBNA took a bit longer, around an hour but that yielded £29k. (at least 60% in interest as the accounts were closed over 10 years ago)

You do need to have a valid claim or recourse (and the MBNA claim was an odd set of circumstances due to work globe hopping for several years - big limit and only being back in the UK for a few days a year to do expenses).

Its a windfall, so the temptation is strong to use someone else - but that hour of work was worth near £10k so a bathroom done.

Funk

26,254 posts

208 months

Friday 24th November 2017
quotequote all
R8Steve said:
xjay1337 said:
I guess it wouldn't show up on your credit history?
Only shows 6 years.

You can just write to all the big financial institutions and see if you get a hit. That's what the CMC's would do.
Even without account numbers? Can you request that they search under name and addresses?

R8Steve

4,150 posts

174 months

Friday 24th November 2017
quotequote all
Funk said:
R8Steve said:
xjay1337 said:
I guess it wouldn't show up on your credit history?
Only shows 6 years.

You can just write to all the big financial institutions and see if you get a hit. That's what the CMC's would do.
Even without account numbers? Can you request that they search under name and addresses?
Yes, just provide name, DOB, address and any previous addresses and they will be able to find any accounts you have/had.

jesta1865

3,448 posts

208 months

Friday 24th November 2017
quotequote all
stongle said:
Lots of banks / credit card providers have web portals you can complete. Takes a few minutes. Barclaycard took 5 weeks to process; but I only had to fill in the web portal questionnaire. You only need a rough idea of "if you had a card" and where you lived at the time and if you have a valid claim - away you go. £3.5k refund for less than 10mins work.

MBNA took a bit longer, around an hour but that yielded £29k. (at least 60% in interest as the accounts were closed over 10 years ago)

You do need to have a valid claim or recourse (and the MBNA claim was an odd set of circumstances due to work globe hopping for several years - big limit and only being back in the UK for a few days a year to do expenses).

Its a windfall, so the temptation is strong to use someone else - but that hour of work was worth near £10k so a bathroom done.
ah i see now why you all thought I was mad, if they have web portals then I will try it that way as it would seem I may not have to dig through 20 years worth of paperwork.

Especially as the wife had an egg card as well.

As an aside, I mentioned this to a mate, who has never checked before (i'll let him know about the web portals etc) he was interested, but I know that at one point when his business was in a hole he defaulted on a couple of credit cards (well at least was in a payment plan, my wife and I helped him out). he wondered if that would cause him an issue? Anyone know.

Obviously, I had no idea as I didn't know how easy it was these days.

Thanks all

R8Steve

4,150 posts

174 months

Friday 24th November 2017
quotequote all
jesta1865 said:
As an aside, I mentioned this to a mate, who has never checked before (i'll let him know about the web portals etc) he was interested, but I know that at one point when his business was in a hole he defaulted on a couple of credit cards (well at least was in a payment plan, my wife and I helped him out). he wondered if that would cause him an issue? Anyone know.

Obviously, I had no idea as I didn't know how easy it was these days.

Thanks all
No, makes no difference.