PPI Claim

I was mis-sold it a few years back, but cancelled after a few months when I did some research on it (it seemed a bit off to me).

I might claim it back, not that it's much - just I don't think the bank deserves "free money" from people who CBA to claim it back.

What's the best way of finding out how much in total you have paid to PPI?, I can't imagine the bank would be that hot on just giving that information (pretty obvious what I want it for).
 
elmarko1234 said:
I was mis-sold it a few years back, but cancelled after a few months when I did some research on it (it seemed a bit off to me).

I might claim it back, not that it's much - just I don't think the bank deserves "free money" from people who CBA to claim it back.

What's the best way of finding out how much in total you have paid to PPI?, I can't imagine the bank would be that hot on just giving that information (pretty obvious what I want it for).
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Google something like PPI templates.

You can then send them off to the back and wait for a response.
 
feriso said:
Then again, it was when I was a student so would it've been applicable anyway?

Not trying to get free money, just trying to be fair.
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Pretty sure PPI shouldnt apply to student as theyre not in full time work....
 
elmarko1234 said:
I was mis-sold it a few years back, but cancelled after a few months when I did some research on it (it seemed a bit off to me).

I might claim it back, not that it's much - just I don't think the bank deserves "free money" from people who CBA to claim it back.

What's the best way of finding out how much in total you have paid to PPI?, I can't imagine the bank would be that hot on just giving that information (pretty obvious what I want it for).
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If it is for a Credit card then you can ask the Bank for a copy of your statements. There will be a charge for this obviously. Then it is just a case of looking through them and adding up all the ppi payments.
 
feriso said:
Becasue of this I don't get how the PPI could be missold in the first place?
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I was told that in order to get the APR offered, I had to take the PPI, and if I didn't, it would be 5% higher, which obviously was a lie and bully tactic to upsell the PPI.
 
krooton said:
I was told that in order to get the APR offered, I had to take the PPI, and if I didn't, it would be 5% higher, which obviously was a lie and bully tactic to upsell the PPI.
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Is that actually a lie? I can see the logic behind charging a higher APR to a more riskier candidate (and someone without PPI is therefore a riskier candidate).
 
Hatter The Mad said:
Is that actually a lie? I can see the logic behind charging a higher APR to a more riskier candidate (and someone without PPI is therefore a riskier candidate).
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When I spoke to the FOS about it, they confirmed that it was miss-selling, hence them chasing it up for me.
 
w1lliam said:
I called the bank and got the ball rolling, didnt even fill a form, 2 months later a cheque for 2k.

A 20 minute phone call.

That's all it took.
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Pretty much this. Forget using these third parties, to do it for you. All that you need to to do is phone your bank.
 
I was told that, if I didn't take the PPI out on a loan that my chances of a successful loan application would be diminished. This was with my bank (Lloyds TSB), who I had been with for 15 years, never gone overdrawn or anything. I took the loan out and then when I received some money a couple of years later, paid it off in full. Complained about the mis-selling of the PPI to an advisor in the bank when they were trying to sell me an upgrade on my current account. They went away and came back with a couple of forms for me to fill in. After 3 weeks I got all the PPI back I had paid over the term plus 8% interest on the payments and also another lump sum due to me overpaying on the loan as they had frontloaded the PPI on to it. This was a couple of years ago, prior to the wholesale rises in the leeching companies who will charge anything up to 35% to get the PPI refunded.
 
How far back can a claim be made for?

I bought a house 15 or 16 years ago and at the time was told we really needed to take this PPI insurance out, 12 months after takingit out I went self employed, told the bank this and was told PPI would pay out, so I continued paying out. It was only during a review of things I looked into it further to find out I wouldn't have been covered.

I contacted the bank at the time and basicly was told after much hessitation that IO wouldn't have been able to claim and also told that they wouldn't refund the payments - this was way before all the things came to light in the past few years.

Matt
 
Most banks will let you just put in a claim over the phone. Due to the FSA rulings the banks not have some very strict timelines in which to process and reach a decision on these complaints.

Due to these timescales and the volume of complaints that are being dealt with the reasons given for a PPi missselling are usually not even questioned/investigated when these complaints are being dealt resolved.
 
I did PPI claim all by myself and received the money without using a 3rd party. For the price of a few letters and stamps its all you need to do your claim yet so many people have been duped into using a 3rd party, like my brother in law's father (which my sister did the original letters for him) got impatient and allowed a company to do it for him, he was due thousands back, they took something like 2k from him for fee.

Absolute joke, but so is he for not waiting!
 
[TW]Fox;21059552 said:
How is it missold if it was you who thought you had to have it not them telling you that you had to have it?
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It's miss sold because through terms and conditions the banks were trying to wriggle out of paying out when people became unemployed and tried to make claims against the insurance. Authorities decided this was unfair.
 
Tummy said:
They were on 'Watchdog' recently were they not?

Basically, they do ~some form filling on your behalf and take large amounts of money for this. It's all something you could do yourself in a very short space of time. It's not complicated, unlike they make out.
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I don't care. It was money I never had in the first place. Mine was never miss sold I just put in a claim and played it. Going through a company made it easier as I don't have a clue and don't want to learn.

Thanks for the monies.
 
mrbell1984 said:
I don't care. It was money I never had in the first place. Mine was never miss sold I just put in a claim and played it. Going through a company made it easier as I don't have a clue and don't want to learn.

Thanks for the monies.
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You wouldn't of had to 'learn' anything other then to fill out a basic form, that was essentially what the company did on your behalf.

Had you spend ~30 minutes doing this yourself you'd have received considerably more money given that you gave them 25%.
 
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