# PPI refunds



## Andyg_TSi (Sep 6, 2013)

So, to cut a long story short, I didn't think I'd be entitled to a PPI refund. However, I found out something this week that changed that opinion, so I've gone and made a claim.

Basically, in 1998 I took out a 5 year personal loan with Alliance & Leicester. At the time, I opted to have PPI on advice of the bank.....hence me thinking I would, therefore not be entitled to make a claim.

However, I've been told that if your Statutory sick pay/redundancy pay arrangements via work meet certain conditions then PPI wouldn't have covered you anyway.

If I went long term sick at work, I get 6 months at full pay & then 6 months at half pay before going on basic SSP. Because of that the PPI cover wouldn't have been worth the paper it was written on.

So it's not that you opted to take it, it's if the PPI was appropriate for your circumstances & if you were asked appropriate questions by the person selling you the loan.
I was never asked about my SSP/Redundancy arrangement by the bank, I was just asked if I wanted it.
So today, a quick call to Santander (who now own alliance & leicester) and my claim has been registered.
No intermediary required. I should hear off them in 4 -6 weeks with an offer.

I'm also charged PPI on my credit cards issued by my bank, so I'm ringing them in the morning to raise a claim.

Sorry if people already know this, but I thought it was worth posting if anyone else was put off from claiming if you opted to take it.

You can deal with the banks directly they have dedicated PPI claim teams. So it's worth ringing & checking if you've not already done so :thumb:


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## Nanoman (Jan 17, 2009)

The banks won't think twice about shafting you so I've got no problem with anyone claiming PPI back when it was a dishonest sale in the first place. Many banks will actually have no record of whether they did things correctly or not so some will payout regardless due to their poor record keeping.


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## GleemSpray (Jan 26, 2014)

Its the same for any financial product; Insurance, Pension, Mortgage, etc

If you complain about miss-selling, the authorities will look at the Financial Planner that was completed at the point of sale and was signed by both you and the financial representative and that will form the basis of whether your complaint is upheld or not.

It is for the financial representative to ascertain the suitability of the product for you, given your circumstances at that time, along with your ability to pay for it and to summarise all this in writing in the space provided on the Financial Planner. This is in addition to filling out and checking all the boxes correctly.

An experienced financial planner might put stuff like "_Mr X is happy to proceed with this product, even though his salary doesn't support it at this time, as he says he has other funds at his disposal_ " and if you then sign that as OK, your stuffed later for a refund or compo.

But ...as the old saying goes; If it isn't there in writing, it didn't happen, so the assumption is that the correct questions weren't asked of you at the time and so you get refunded.

They dig out the scan of the Financial Planner and if it has blank boxs where possibly relevant info might go, or a blank space where "_recommendations and actions_" should have been detailed and countersigned and they will just refund you.


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## LeadFarmer (Feb 23, 2011)

Mrs LF received over £4000 last year from a PPI claim. We went on a lovely cruise holiday with some of it.


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## Ross (Apr 25, 2007)

I got 4 grand back from the TSB and another 400 quid for silly bank account charges.


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## Kerr (Mar 27, 2012)

How does it end up in thousands of pounds? Surely the protection is only a small percentage of the loan?

The one I'm interested in is getting the monthly fees back for a bank account. I grudge paying for a bank account when they hold my money and pay no/little interest on a current account, then increase my charges for services I don't want or use. 

It look like people are now claiming back these fees.


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## Ross (Apr 25, 2007)

My ppi was £41 per month on top of the loan which soon adds up.


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## Darlofan (Nov 24, 2010)

I got 13 grand back from a business loan. 5k was interest!!


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## DLGWRX02 (Apr 6, 2010)

I've often thought about this as when I was about 19 I took at a £15k loan with northern rock, that had pip, I never used it but I think it would of been same situation as andyg's above. 

But I'm refusing to go through a no win no fee. But don't really know who else as I'm not sure northern rock is still operating today. I may be wrong.



Update:
Ok, I've been inspired and found out who I needed to contact with this matter, so fingers crossed.


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## DLGWRX02 (Apr 6, 2010)

Andyg_TSi said:


> So, to cut a long story short, I didn't think I'd be entitled to a PPI refund. However, I found out something this week that changed that opinion, so I've gone and made a claim.
> 
> Basically, in 1998 I took out a 5 year personal loan with Alliance & Leicester. At the time, I opted to have PPI on advice of the bank.....hence me thinking I would, therefore not be entitled to make a claim.
> 
> ...


Just want to say a HUGE thankyou to Andy for this. It convinced me to give it a go, so I filled in the form for ppi claims from Barclays (no third party company on my behalf). This was for a credit card that I took out in 1997! And had it for 4 years. And today was awarded my compensation of £2204!. This was all decided on the fact my company at the time had a sick pay scheme meaning I got full pay for 6 months, and half for another 6 so I wouldn't of been able to claim on the ppi. Northern a Rock on the other hand said I didn't have ppi, so couldn't really argue with that.lol.


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## ffrs1444 (Jun 7, 2008)

I thought I'd try this over the years credit cards and loans etc Rubbing my hands thinking money Not a single penny , sad face


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## Natalie (Jan 19, 2011)

I got £108 off HSBC for PPI on a loan I'd had :lol: That'll teach me for paying things off quicker :lol:


I did get £10 sent to me from Tesco bank a couple of weeks ago, because they'd charged me interest when I was in an interest free period.


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## Andyg_TSi (Sep 6, 2013)

Update.

Ive had a payout of £2394.88 from PPI on my credit card, claim period 1998 - 2016


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## DLGWRX02 (Apr 6, 2010)

I can top that, 5 loans 2credit cards between 1997 and 2001 totally just over £14,000 in Ppi refunds!! 1 credit card from 2004-2006 £2204. Unfortunately I went bankrupt in 2001, so meaning that the £14,000+went straight to the official receiver because they classed that as an asset I owned before being declared, so I have 3 lovely letters here all saying yes you were mis sold and yes you've been awarded but we are giving the money to someone else.lol. But I did come away with the later payment so was still happy, always look on the bright side... An all that jazz lol


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