# PPI compensation



## s2kpaul (Jul 27, 2006)

Just wondering weather anyone has followed through with the above ? I received a phone call yestersday stating blah about how i was miss-sold insurance with my loan at alliance and leicester.


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## Scrabble (Mar 29, 2011)

I successfully claimed against the Halifax after being misold PPI. Do not go through an agent as they will take a sizeable amount as payment, money that is rightly yours.
You can download a form from the finacial ombudsman which you can send off.
You will need to allow around 16 weeks to hear from the bank but you have nothing to lose. I was refunded all my PPI payments plus 8% interest.

Useful information to be found Here


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## s2kpaul (Jul 27, 2006)

did you just fill in the questionaire and send it to the bank ?


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## Scrabble (Mar 29, 2011)

s2kpaul said:


> did you just fill in the questionaire and send it to the bank ?


Yes. Fill in the forms, send them off and wait. It took my bank around 16 weeks to settle.


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## Huw (Feb 16, 2007)

s2kpaul said:


> Just wondering weather anyone has followed through with the above ? I received a phone call yestersday stating blah about how i was miss-sold insurance with my loan at alliance and leicester.


Were you mis-sold the PPI?

If you believe you were then fill out the form and the bank will have 8 weeks to carry out their investigation and let you know the outcome. If they find you were mis-sold they will refund all of you PPI payments, subject to any claims made, plus 8% simple interest for each year you paid it.

Don't use a money grabbing company which will tell you that they can get loads more money and get it twice as quick as you doing it yourself. They can't get you any more back than you have paid and they can't get it any quicker.


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## Darlofan (Nov 24, 2010)

As above, don't use a company. download the form from ombudsman or moneysavingexpert take 10mins to fill it in and wait. I got 13 grand back. 8k I'd paid to them and 5k interest with no hassle at all.


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## lambchop16v (Mar 23, 2007)

When I took out my loans with HSBC back in 2003 & 2005 I was told that I needed the PPI to be accepted for the loan. Would this be a strong case to apply for a PPI refund?

Under what grounds did you say that you were miss sold it to make a claim.

Regards
Aaron


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## Darlofan (Nov 24, 2010)

lambchop16v said:


> When I took out my loans with HSBC back in 2003 & 2005 I was told that I needed the PPI to be accepted for the loan. Would this be a strong case to apply for a PPI refund?
> 
> Under what grounds did you say that you were miss sold it to make a claim.
> 
> ...


without a doubt you have the right to refuse ppi without it affecting the loan. that's how i claimed mine back, i was also self employed so they wouldn't have paid out anyway!!


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## Huw (Feb 16, 2007)

lambchop16v said:


> When I took out my loans with HSBC back in 2003 & 2005 I was told that I needed the PPI to be accepted for the loan. Would this be a strong case to apply for a PPI refund?
> 
> Under what grounds did you say that you were miss sold it to make a claim.
> 
> ...


You have already posted the grounds for the complaint, you were told that you had to take PPI for the loan to be accepted.


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## redrob (Oct 8, 2011)

PPI paid for a 2 week all inclusive holiday to Cuba for me and my family last year.
well worth trying for the comp


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## lambchop16v (Mar 23, 2007)

Thats good to hear, thank you for the replys.

I have downloaded the form from HSBC website, ive started to fill it out & it asks for the loan account number, as im complaining about more than one loan do I have ti submit a form for each account number or put them all on one form.

Any help much appreciated

Thanks Aaron


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## robertdon777 (Nov 3, 2005)

Yes

I got £3200, one mate got £5800 another firend £2700, my old man got £9000 and he's still claiming another 2 back

Easy to do too


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## lambchop16v (Mar 23, 2007)

robertdon777 said:


> Yes
> 
> I got £3200, one mate got £5800 another firend £2700, my old man got £9000 and he's still claiming another 2 back
> 
> Easy to do too


I have to fill a form out for each loan account?


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## Huw (Feb 16, 2007)

Not familiar with the HSBC form, can't see it being a problem for you to put both loan numbers on the one form, as long as your complaint point(s) are the same.


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## Darlofan (Nov 24, 2010)

lambchop16v said:


> I have to fill a form out for each loan account?


I filled out a form for each. only takes 2 minutes to do 2nd one. Send recorded don't want them"not getting it"!!!


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## s2kpaul (Jul 27, 2006)

exactly the same, i to was told i need ppi for the loan to be accepted. Posted off and will see the outcome.


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## ianFRST (Sep 19, 2006)

i need to do one. i was told i needed ppi for a loan, and i didnt need it anyway, as i was self employed!

my parents got theirs back no so long ago, my mum got back nearly 10k!! my dad got a cheque for 3k, then a week later another cheque for 3k, then about 4 weeks later another cheque for 3k!!


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## nilitara (May 2, 2008)

Hi

I've had numerous loans with Lloyds tsb, going back 12 yrs or more, I'm certain PPI was included in many of these. Unfortunately I've got no paperwork whatsoever!! Can't even remember dates etc. 

They are all now finished and fully paid up, I'm thinking trying to make a claim would be a lost cause, as I don't have the relevant paperwork or agreements etc. I can't see my bank helping me out on this!!

Is there anyway I may be able to open a case for PPI?

Nige


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## Huw (Feb 16, 2007)

nilitara said:


> Hi
> 
> I've had numerous loans with Lloyds tsb, going back 12 yrs or more, I'm certain PPI was included in many of these. Unfortunately I've got no paperwork whatsoever!! Can't even remember dates etc.
> 
> ...


Its very easy to register a complaint for the mis-selling of PPI, all you need is the reason you believe you were mis-sold and your loan numbers. Call LTSB on 0845 601 2683 M-F 8-6, Sat 9-2 to register the complaint. The personal loan service centre will be able to give you details of any loan you had with them that had PPI, the records will only go back six years. Looking at the LTSB web site this appears to be the number for their loan service centre, 0800 096 1282.


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## Huw (Feb 16, 2007)

ianFRST said:


> i need to do one. i was told i needed ppi for a loan, and i didnt need it anyway, as i was self employed!


You could be self employed and have PPI, it doesn't mean you were mis-sold.


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## Darlofan (Nov 24, 2010)

Huw said:


> You could be self employed and have PPI, it doesn't mean you were mis-sold.


think it depends, most policies won't pay out if self employed for unemployment as you could just lay yourself off and claim!! Apart from that just claim you weren't told you had a choice, very hard for them to prove otherwise.


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## Huw (Feb 16, 2007)

Darlofan said:


> think it depends, most policies won't pay out if self employed for unemployment as you could just lay yourself off and claim!! Apart from that just claim you weren't told you had a choice, very hard for them to prove otherwise.


Most policies that cover the self employed will pay for unemployment, there will be conditions attached though. Saying you you weren't told you had a choice could be very easy to prove/disprove, it all depends on what documentation the lender has from the time of the sale.


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## pete330 (Apr 18, 2006)

I have just found i had 5 loans with PPI...One of those i made a claim on tho

All go back to late 1990`s to 2000`s 

Is it toom late to claim on these?

I recall being kind of forced to take them out


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## Huw (Feb 16, 2007)

Its not to late to claim, no time limit has been set yet, despite what some claims management companies are advertising. There may be an issue with regards to what information the lender holds as they only have to hold records for six years. If you have any records showing that you had ppi or what you paid each month, then send in copies of that info with your complaint. 

The fact that you claimed on one policy does not stop you putting in a complaint. If it was found that you had been mis-sold, then you would receive all of your premiums back, minus the amount of the claim. So if you paid £2500 in premiums and had a claim for £1500, then you would get back £1000 plus interest. If your claim was for £5000, then you would receive nothing back, as the claim was for more than the premiums paid. Don't worry, they won't come after you for the difference.


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## pete330 (Apr 18, 2006)

Cool i have every bit of paper work,so will sit down and fill out the form on lloydstsb website and see what happens


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## Rowan83 (Aug 21, 2007)

I got £4,400 back in miss-sold PPI last year so it's worth doing.


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## boyasaka (Jun 13, 2009)

If anyone reading this every bought double glazing on finance offered from the Double glazing company , they will have been blagged about the ppi, alll companys get up to 4 times the commision off the finance company it the loan they set up has ppi included, I used to sell double glazing 20 years ago, and got 6 percent commission of the sale if on finance with pp,i or 1 percent in no ppi, and we were told simple not to mention the ppi at all and just say the amount in the ppi box was included in the borrowed amount and not on top , which it was, all the multi national companys did this, for double glazing , bathrooms, kitchens ect ect ect, SO think back everyone you might be owned money too


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## s2kpaul (Jul 27, 2006)

Hi guys, do any of you know if the bank should send a confirmation letter to say they have recieved the complaint.


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## Huw (Feb 16, 2007)

Banks have 5 days to send out a confirmation letter, its an FSA regulation. If this time has passed, call them to make sure they have received your complaint, if they confirm they have received your complaint, ask for a duplicate letter to be sent to you.


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## Gruffs (Dec 10, 2007)

What a useful forum this is.

Is this applicable to PPI on Credit Cards as well as loans?


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## bigslippy (Sep 19, 2010)

Gruffs said:


> What a useful forum this is.
> 
> Is this applicable to PPI on Credit Cards as well as loans?


I believe so


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## Gruffs (Dec 10, 2007)

Eeeexxcellent.

*Rubs hands together and runs off to fill in forms*

I hate to think how much i paid out on that stuff when i was young and irresponsible. Now i'm older and tight as Scottish nun's whatsit, This could be a nice little bit of cash.


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## Darlofan (Nov 24, 2010)

Yeah applies to credit cards as well


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## Ric (Feb 4, 2007)

Gruffs said:


> Eeeexxcellent.
> 
> *Rubs hands together and runs off to fill in forms*
> 
> I hate to think how much i paid out on that stuff when i was young and irresponsible. Now i'm older and tight as Scottish nun's whatsit, This could be a nice little bit of cash.


Hopefully you are claiming because you were actually mis sold PPI, not just trying to get quick buc and defrauding the system...


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## Beancounter (Aug 31, 2006)

^^^ Agreed, seems that a lot of people are just using this as an excuse to get back money that they happily agreed to at the time.
Not saying that's the case with every claim, but I do wonder how many people were actually *MIS* sold.


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## Gruffs (Dec 10, 2007)

Are you asking that as a 17-23 year old, if I had a full understanding of the financial system and that I need not have PPI and then willingly took it out anyway? 

That would seem a little stupid don't you think? If the person in the bank advised it, then i would have taken that advice.

I've been accused of being naive before but not usually stupid.

Besides which, if there is compensation for it and I don't take advantage of that, I would be cutting my nose off to spite my face by not taking that opportunity. That would make me stupid TWICE. 

And still naive.

Defrauding the system? Are you having a laugh? Or have you been on a desert island for the last 4 years?

Nice view up there on your high horses?


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## robertdon777 (Nov 3, 2005)

Even when people did know they were taking it out - it was still mis-sold

No de-frauding any system.

I told the bank I knew I was taking it out, even gave them my signed paperwork to say I was happy taking out PPI - But they 'The Bank' mis-sold, they had to make people aware that there were alternatives (part of the PPI policy agreements)- They didn't! - I got my money back, simple


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## Rowan83 (Aug 21, 2007)

Gruffs said:


> Eeeexxcellent.
> 
> *Rubs hands together and runs off to fill in forms*
> 
> I hate to think how much i paid out on that stuff when i was young and irresponsible. Now i'm older and tight as Scottish nun's whatsit, This could be a nice little bit of cash.


Credit card PPI refunds have interest added at the % that was on the card.... so can work out very well.


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## Huw (Feb 16, 2007)

robertdon777 said:


> Even when people did know they were taking it out - it was still mis-sold
> 
> No de-frauding any system.
> 
> I told the bank I knew I was taking it out, even gave them my signed paperwork to say I was happy taking out PPI - But they 'The Bank' mis-sold, they had to make people aware that there were alternatives (part of the PPI policy agreements)- They didn't! - I got my money back, simple


Lenders did not have to tell you of alternatives, if they only had one policy to sell, that's what they would tell you about. A BMW dealer isn't going to tell you that the Audi over the road is a better deal.


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## robertdon777 (Nov 3, 2005)

Huw said:


> Lenders did not have to tell you of alternatives, if they only had one policy to sell, that's what they would tell you about. A BMW dealer isn't going to tell you that the Audi over the road is a better deal.


Yes they did!, that's why many policies were mis-sold. They didn't have to tell you about rival policies but they did have to tell you that there were alternative options, ie. If you have this loan and don't take 'our ppi' you may not get the apr quoted, saying things like that was mis-selling. If you listen to finance selling now they will always offer ppi, but never say it will alter the apr and they make you aware that alternatives are available. They don't highlight it but when you take a loan out over the phone its now part of their speil.

One alternative they had to tell people was they didn't require ppi, many banks didn't even do that!, an alternative isn't always someone else's 'product'.


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## Huw (Feb 16, 2007)

robertdon777 said:


> Yes they did!, that's why many policies were mis-sold. They didn't have to tell you about rival policies but they did have to tell you that there were alternative options, ie. If you have this loan and don't take 'our ppi' you may not get the apr quoted, saying things like that was mis-selling. If you listen to finance selling now they will always offer ppi, but never say it will alter the apr and they make you aware that alternatives are available. They don't highlight it but when you take a loan out over the phone its now part of their speil.
> 
> One alternative they had to tell people was they didn't require ppi, many banks didn't even do that!, an alternative isn't always someone else's 'product'.


I think we are speaking at cross purposes. Lenders did not have to tell you off alternatives if there wasn't one. 
Being told you could not get a loan or get the quoted APR, without taking the PPI is something else entirely different. If a customer was told that, then they would have grounds to complain.


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## lambchop16v (Mar 23, 2007)

Well after a battle with HSBC they have finally upheld my case and are refunding my ppi, it has been hardwork at times but worth it in the end so to those who are making a claim dont give in.

Would like to say a big thanks to Huw, you have been really helpfull and it was much appreciated :thumb: This guy knows his stuff.

Now to work out how to claim back my credit card ppi which was sold to me at the same time of taking out the loan.

Thanks
Aaron


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## GJM (Jul 19, 2009)

Huw said:


> Were you mis-sold the PPI?


I've bene getting these PPI calls for a while now, does it apply to mortgages.

I took a mortgage back in 2001/2 and was asked if wanted it, said no but they said it's free for first year, I said don't care, but they went on and on so just took it...free for a year then obviously paid it after that.

Yes could have cancelled it I think but was out the country for very long periods, hence reason said didn't want it as had enough on without calling to cancel something I didn't really want or need in the first place


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## Huw (Feb 16, 2007)

lambchop16v said:


> Well after a battle with HSBC they have finally upheld my case and are refunding my ppi, it has been hardwork at times but worth it in the end so to those who are making a claim dont give in.
> 
> Would like to say a big thanks to Huw, you have been really helpfull and it was much appreciated :thumb: This guy knows his stuff.
> 
> ...


No problem, glad you got it sorted.


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## Huw (Feb 16, 2007)

GJM said:


> I've bene getting these PPI calls for a while now, does it apply to mortgages.
> 
> I took a mortgage back in 2001/2 and was asked if wanted it, said no but they said it's free for first year, I said don't care, but they went on and on so just took it...free for a year then obviously paid it after that.
> 
> Yes could have cancelled it I think but was out the country for very long periods, hence reason said didn't want it as had enough on without calling to cancel something I didn't really want or need in the first place


Firstly these companies calling saying you have been mis-sold no nothing about you or your financial situation. They have no idea if you have been mis-sold, they can not get you more money and they can not get it quicker for you. And why would you want to pay 25-40% to someone that you can easily do for yourself?

It applies to any finance product, mortgages, credit cards, loans, double-glazing finance etc where payment protection insurance was mis-sold.


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## morganste (Jan 6, 2008)

I made a claim against barclays back in october last year, just by filling in the questionaire and sending a bank statement highlighting one of the loan transactions.

It took exactly 7 weeks for the claim to be upheld and i woke up one morning to a juicy £1400 in my bank.

If you were genuinly mis-sold PPI then its deffinatly worth your while to claim.


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## robertdon777 (Nov 3, 2005)

morganste said:


> I made a claim against barclays back in october last year, just by filling in the questionaire and sending a bank statement highlighting one of the loan transactions.
> 
> It took exactly 7 weeks for the claim to be upheld and i woke up one morning to a juicy £1400 in my bank.
> 
> If you were genuinly mis-sold PPI then its deffinatly worth your while to claim.


I think Barclays are just handing out the money with no real questions, they have said it would cost them more to investigate claims!


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## President Swirl (Oct 23, 2011)

Go direct to the bank. Agencies are cashing in on people's fears of approaching the banks. The money is set aside. If you are owed it, you will get it.


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## Huw (Feb 16, 2007)

robertdon777 said:


> I think Barclays are just handing out the money with no real questions, they have said it would cost them more to investigate claims!


That was the case a few months ago, don't know if it still is.


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## JenJen (Jun 30, 2010)

I googled for the two banks I held mortgages with between 1999-2008 and claiming on all 3 mortgages I had! Was sold ppi although I was a contractor and would never have been able to take advantage of the ppi insurance. Rbos and natwest were easy, just call the number give them account numbers and they do the rest. Haven't filled in any forms yet. Hoping its going to be a nice sum to put towards my new car! Been told the claims will take around 12wks to process/clear.


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## Huw (Feb 16, 2007)

JenJen said:


> I googled for the two banks I held mortgages with between 1999-2008 and claiming on all 3 mortgages I had! Was sold ppi although I was a contractor and would never have been able to take advantage of the ppi insurance. Rbos and natwest were easy, just call the number give them account numbers and they do the rest. Haven't filled in any forms yet. Hoping its going to be a nice sum to put towards my new car! Been told the claims will take around 12wks to process/clear.


Did they give you a break down of the 12 weeks? They have to give you a final response within 8 weeks, this does not mean payment received by you. FSA have a 'gentleman's agreement' that payment should be made no later than 56 days after this date. The majority of lenders do this, but not all.

Were you a self employed contractor? As PPI may still have been suitable if you were.


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## JenJen (Jun 30, 2010)

I was agency worker so it didn't apply as you had to be in continuous employment so it didn't apply to myself. If I had been self empoyed then it might have applied. I looked into to it all at the time but they said I had to take ppi or else I wouldn't get the mortgages


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## Huw (Feb 16, 2007)

Sounds like a classic case of mis-selling, based on what you have said.


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## JenJen (Jun 30, 2010)

Yep RBOS were apologetic and more than helpful when I called so ill just be happy to get my money back. Not sure how much I will get thou...


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## Huw (Feb 16, 2007)

JenJen said:


> Yep RBOS were apologetic and more than helpful when I called so ill just be happy to get my money back. Not sure how much I will get thou...


All of the premiums that you have paid, plus 8% simple interest for each year the policy was paid. You may be in for a nice surprise.


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## shane_ctr (Dec 17, 2006)

I don't know how some people can still remember all there info ive had 3/4 loans starting from when i was 17, I would never remember if i paid for ppi or not


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## JenJen (Jun 30, 2010)

I haven't remembered my data but I have written to the address I was given by the ppi department and they sending it to me.

I had my mortgages from 1999 to 2007


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## Gruffs (Dec 10, 2007)

Your bank will know. 

You can look on your statements online for example. 

Unfortunately, it appears that I refused PPI on all my loans. Though I know I had it on my credit cards. The flitting around 0% cards as I worked my way out of trouble makes that very complicated.


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## Huw (Feb 16, 2007)

GJM said:


> I've bene getting these PPI calls for a while now, does it apply to mortgages.
> 
> I took a mortgage back in 2001/2 and was asked if wanted it, said no but they said it's free for first year, I said don't care, but they went on and on so just took it...free for a year then obviously paid it after that.
> 
> Yes could have cancelled it I think but was out the country for very long periods, hence reason said didn't want it as had enough on without calling to cancel something I didn't really want or need in the first place


GJM, your mailbox is full.


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## lisaclio (Sep 6, 2008)

when i applied for a loan when i was younger, my mum always told me to say no when they asked did i want ppi. I wish i would of ignored her now and could of got a pay out :-(


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## Huw (Feb 16, 2007)

lisaclio said:


> when i applied for a loan when i was younger, my mum always told me to say no when they asked did i want ppi. I wish i would of ignored her now and could of got a pay out :-(


You would have got back what you paid plus some interest. And only if you had been mis-sold. They aren't just handing money out.


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## GJM (Jul 19, 2009)

Huw said:


> GJM, your mailbox is full.


Sorry sold some things and bought some so messages were backing up


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