Just wondering how you went about it?

Any tips or advice?

Cheers.

Me, from HSBC. The process was all rather simple, bank sent me a letter saying I may have been miss-sold it when I took out a loan year ago and would I fill in this questionnaire. I filled it in and about 6 weeks later received an offer from the bank, with 4 figure payout arrived 4 weeks later. They offered me a number which I could have appealled against and challenged, I decided not to as the number was pretty good anyway and, as I didn’t realise I took it out anyway, it was very much a bonus.

Interestingly I’ve just received a similar letter regarding a credit card I took out many years ago as well.

Got a company to do it on our behalf for a 25% fee (+vat) on a ‘no win no fee’ basis.
Its taken about 12-18 months but we have quite a complicated finance history involving mutipul credit cards, banks loans etc – all of which were paid off and closed at the time of going for ppi hense getting a company to do the donkey work. All in we have got about 3.5k (less the fees) back from three seperate ppi claims.

We used Claims-Inclusive, after the initial forms we had to do a little chaseing, maybe 3 or 4 calls just to see how things were going and what was happening, but over all they were good. I’m sure there are companies with lower fees but over alk they were pretty good and the staff that delt with our claims seem competent and knowledgeable when spoken to.

If you have a relatively simple financial history then i’d do it your self. However two of our claims went to the financial ombudsman. All of which is achievable with out a third party but we just felt it easier to use a company for the potential multiple claims we had. If your doing it your self all the forms and info is on moneysavingexpert.com

Is this basically a free for all? Is there any way they can check if you were sold it? I am being hounded almost daily by the PPI claim people. I’m fairly certain i’ve never knowingly taken out PPI – its something i’ve always been aware of and actively looked for, but the fact i’m being hounded makes me start to think that maybe I have at some stage without knowing it and i’m on a list somewhere.

I work for a major bank and the consensus is; it’s not worth investigating whether you were miss-sold or not, so you are given your reimbursement regardless.

Ps. Don’t use a claims firm, it’s money for old rope, no wonder hundreds popped up over night. Just call the bank.

So.. I can just phone up and say ‘I’m molgrips, was I mis-sold? If so can I have some money please?’

I have had several loans, I can’t remember if I had PPI or not. I definitely did for a while on a credit card, not sure about any of the loans.

You can check if you were sold it – look through your paper work or phone the company/s involved.

You’ll save money doing the process yourself – however for me it nade sense using a third party.

Different banks seem to have different approaches – a mate works a loyds and tells me they reject ever claim until the claiment goes to the financial ombudsman.

Paperwork? Lolz!

I think all mine were with companies that ended up as Barclays.

1) sign up for free month Experian trial
2) print off credit report
3) write a letter to everyone, even if you know you never had ppi (obviously don’t do this for phone contracts etc)
4) they’ll get back you telling you that they are either investigating (good news), or that they can’t find any record (bad news)
5) wait, after a few weeks…the cheques will come in

This is all that the ppi companies do, it really is so simple to do. All you need to do is keep all the letters you send/receive, and cross them off the credit report.

Don’t forget to cancel Experian.

I got around 4.5k

^ not true about Lloyd’s btw, they were the fastest for me.

How far back do Experian go? I had a car load from ’93 to ’97 I think. Can’t remember who with or whether it had PPI.

Not sure, but it would be when you settled the loan…remember what year that was?

Edit. Sorry, just read 97. Not sure mate, worth a try for free though eh?

9.5k back last year. I had zero paperwork so paid Barclays £10 for copies of everything.
Few hours to read and fill forms in myself, 8 weeks later a cheeky little 9.5k in my bank account.

It truly is simple. Please don’t use a third party.

sc-xc that’s the kind of advice I was looking for, I’ve had loads of financial products over the years but never knowingly taken out PPI and can’t remember who half of them were with.

In the ‘good old days’ did PPI automatically added to loans, credit cards etc or would you know if you’d bought it?

EDIT: That answers that 😀

I didn’t know, a couple of mine were classic ‘pre ticked boxes’

And the rest, well they have to prove that they didn’t miss sell, the burden of proof lies with them. As posted above, it’s not worth their hassle to fight it!

£4k last month from Lloyds. One phone call to their claims centre and the details were sent to me via post to check. Sent back the signed confirmation letter and a cheque arrived 6 weeks later. No ombudsman or PPI firm required.

Had 2 pay outs, covered 2 weeks in Cape Verde and a Tallboy Ltc, still got a bit left over for the next big thing

I take it that those who went to their banks only claimed back PPI from loans taken from that bank or do they do the checks with other financial companies you may have had loans from i.e. is it a service they’re offering?

Banks only check their own

^ which is why you need your experian report…

Credit reports only stretch back six years I’m afraid, a period of time agreed between the industry and the regulators. Your report may show accounts opened much longer ago than this of course, but only where they were active within the last six years.

Bummer, no way of finding out who I had the loan with now…

http://www.experian.co.uk/consumer/questions/askjames258.html

The biggest payout from mine came from loans that were used to pay off loans – only the original loan had PPI, but I ended up with a wedge for the second one as well because that was used to pay of the initial one.

I do get the impression they’re just throwing money at the problem…..

Is it as easy when the loan was with a non high street bank,I have car finance coming to an end in a couple of months.Just a case of writing to the finance company to lodge a claim,and are they obliged to repond?

2 experiences

Tried to claim from M&S and they are fighting tooth and nail. Claim now with the Ombudsman.

My wife had a loan from Natwest. They rang and offered cash without us even submitting a claim.

Any idea how far back you can claim or that people have been successful with? I had an initial loan when I was 18 then got a further loan to pay the first one and buy a new car both had PPI as far as I know. This was probably in 1995 ish. I know who they were with but have no paperwork anymore

It transpired I had PPI on a couple of HSBC credit cards. I didnt even realise this was the case but HSBC sent me a letter informing me along with a simple claim form. After repeated nudging from Mrs King I completed and returned them. A couple of weeks later HSBC called me and asked a few questions which were simple enough to answer. Then mid December received an offer of 11k which i accepted. Very simple process and do not use a claims firm.

Same as a few of the above, had a letter from The Halifax saying I may have been mis-sold PPI on a loan I took out maybe six or seven years ago. Filled their forms in, at length, and chatted to one of their advisors when a couple of things needed checking. Said they would make a decision in two weeks, bang on two weeks later a cheque arrived for over £1600. I have since downloaded the pre-written letter on Moneysavingexpert and sent it off together with a form to Barclays whom I had a credit card with years ago.

Ring your bank, tell them you think you may have been mis-sold PPI and they are obliged to help!

Is there a definitive time limit on these? I took out a loan back in 95ish with NatWest and I can remember being mis-sold (but I was naive and fancied the bank manager). Can I get it back?

Don’t use claim handling companies – they’re a rip off.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

We just got £4800 back from a mortgage PPI that we were told we had to have.

Ends up Mrs Coolhandluke wasn’t even on the policy 😯

Mrs Coolhandluke did all the paperwork stuff, they called one day when I was in and asked me a load of questions about the policy, good job I was listening that day!

We didn’t see the point of asking a company to claim when we’d still have to hunt for the paperwork.

a mate works a loyds and tells me they reject ever claim until the claiment goes to the financial ombudsman.

my £3.5k is with the FO now. LLoyds’ defence is essentially “Yes we lied in order to get you to sign, but we don’t think that’s a good enough reason to give you you’re money back…”

FO have suggested it might take as long as 2 years.

Ours took about 4 weeks

Im currently in the middle of one from Tescos, started late November and i have received letters updating mostly telling me they are still investigating.

Yep, had 2 from Lloyd’s bank, the first I chased with them and paid out £1500 the second claim THEY WROTE TO ME! Asking whether there was a claim on 2 old loans I had and both paid out £3500. It’s dead easy to claim, if you know you’ve had a loan phone the bank and enquire, if they get funny threaten them with the Finical Services Ombudsman, that focuses their minds. Once the ball is rolling its easy a quick questionnaire and they do the rest.

Do not use one of the “services” companies you’ll only give them your money.

I’ve been meaning to do this for a couple of years so think I’ll get on the case now.

I’ve got my Experian report listing all credit agreements for credit cards (not any bank loans though). None of these display card/account numbers either. Do I literally just write to each lender stating name, address (at the time of using them), start date and ask them to pay me?

Well, one (not so quick) phone call to Barclays last night established that I had 2 PPI policies related to overdrafts in the late 90’s!
I had no idea that you could even get PPI on overdrafts, so clearly I wasn’t aware the policies had been ‘sold’ to me.

They’re investigating the complaint & will respond within 8 weeks.

Now to trawl through the rest of my financial history and see who else might have ripped me off in the past!

Any tips on finding details of historical (I’m talking 20 years ago) ccounts/loans etc gratefully received…..

What I don’t understand is this: surely if any of us call up a lender and say “I had a loan/credit card with you from 1997-2001, can you tell me if I had PPI on it?” will they not just say “No, you didn’t. Goodbye.” as we have no evidence saying otherwise?