[Closed] PPI claimbacks..

If you've had a loan with PPI on it then claim away.

The banks have got the money sat there waiting to be claimed.

do it, I'm going to be doing it soon. Ignore the claims companies - the stats suggest you're just as likely to make a successful claim on your own as you would with their 'help'.

ditto ignore the claim companies - your bank will (should) have a perfectly good claims process in place.

The claims companies are just an extra (unnecessary) link in the chain as they have to pass your claim to the bank anyway.

And some take a % of your 'winnings'.

If you're a well organised person with records of past accounts and loans then certainly ignore the claims companies.

My Father who had literally not a scrap of paperwork from the last 10 years went with a claims company who got him 6k less 20%, for loans he didn't even recall, so he was happy with that.

Just to add a bit of balance. As others have said, avoid claims companies if you can but if not there's no harm in letting them try and find some compensation for you, that bit's free.

I got one of those spam texts and responded. They told me that I was owed money but the only credit card I had PPI on was nearly ten years ago. But they were adamant I had a case. So I contacted HSBC where a very helpful chap sorted everything for me and said there was no need for third party involvement and paying them 25% of the fees.
Four weeks later got payment for just under £3k.
I didn't have any records of my previous credit card numbers , statement etc but under the law the bank/ finance company has to provide them. So itsup to you it only took me one phone call.

I've a feeling I had PPI on a credit card years ago, but can't find any paperwork, consensus seems to be that you should still just ring up and ask the question, they'll tell you. Still no point using a 3rd party company.

I've submitted my claim to Barclays, just phoned up the hotline in Ireland and they sent me a questionnaire to fill out/send back.

I did that about 3 weeks ago, should hear back by the end of the month apparently.

bastards added PPI to my loan a year after i took it out!

Ignore the texts (I get loads, and I've never had PPI on anything).

However, if you have had PPI, then if you so wish, make a claim yourself.

FWIW, I sold a lot of PPI when I worked in a bank. Whether I 'mis-sold' it is a different matter, to be honest I'm not even clear what the mis-selling scandal is around PPI

consensus seems to be that you should still just ring up and ask the question, they'll tell you

Happy to be corrected, I'm just sceptical ringing them up and saying "do you owe me money?" will be that successful.

Mrs had PPI with a virgin card, keep trying to get her to fill the forms in.

*so someone told me.

Its worth checking through anything you've bought on tick. My folks had a new conservatory build the glazing co provided their own credit deal which when I was going through my dad's estate I spotted included PPI. Crafty bastards didn't offer an opt-in anywhere in the paperwork. I've got the original credit agreement they filled out and signed and PPI isn't mentioned anywhere on the form - but look at the payments and its there. So this is PPI sold secretly to two people on occupational pension with an income that is just about as secure as it gets.

The PPI was from HFC who are / were behind lots of consumer credit facilities and they're largely considered to be one of the worst PPI offenders, so don't just look at your bank/credit cards/ mortgage but at large purchases like cars and computers

Both me and the wife did - she the lazy way (claims company) me through the info from moneysupermarket.com. I've had a few loans over the last 10 years so i gave it a go - downloaded the forms they said off the website and sent them back with the loan agreements i could find. I just went through my online account and got as much info as i could, but the bank can supply you with everything you need for a small fee (i think - they're loads of info about in on the website) for the price of a stamp i got just over 6 grand back 😀 Took all told about 7 or 8 weeks form the letter being sent to the cash in the bank. I think it helped though i've only ever had loans with my bank....

The missus on the other hand - she got just over 2 grand back and then the company she went through took a cut of £500 for doing pretty much what i did - for the price of a stamp!!!!! Really - don't bother with a claims company its not rocket science

So those of you that have been successful... did you know you had PPI?
Or were they speculative claims?
Is it fraudulent to make a speculative claim (can't see how, but thought I'd ask)?
How far back have you gone with your borrowing and been successful?

I've had a loan from my bank, loan from a few other places for cars and had a few credit cards. I think I've always consciously turned down any sort of payment protection, but can't be too sure. Even if I've turned down payment protection is there a chance I've had PPI cover without knowing?

I'm about to go down this route. PPI we were told was necessary when taking out a mortgage, sold from in-house Royal and Sun Alliance salesman. Re-mortgaged a few years back, and only recently noticed the PPI from the original loan was still being taken every month 😳

Hammerite +1.

I've had dozens of loans over the years - furniture, cars, bikes, credit cards..... and while i think i've always been savvy enough to decline PPI, how do i know it hasn't been surreptitiously added on to some loans without being given the option.

i don't keep all the paperwork for stuff years in the past; once the loan's paid off after a year or so it gets shredded so i can't say with any degree of confidence even who i had loans with. makes me think a 'speculative' claim through a PPI company even if they take 15-30% might be worthwhile. Anyone got any suggestion about who was good?

I've had a loan from my bank, loan from a few other places for cars and had a few credit cards. I think I've always consciously turned down any sort of payment protection, but can't be too sure. Even if I've turned down payment protection is there a chance I've had PPI cover without knowing?

+2

I never thought it was worth it as I've always turned anything like that down.

but free money sounds like a reason to start caring...

+3 I might give this a punt too. Think I'll let a company do it as over the last few years my life has been all over financially, changing loans, selling houses, new / old credit cards... I'll let them sort it out and they can have their piece of the pie.

Theres a time limit isn't there? Back in 98 I had to accumulate my student overdraft etc into a loan and the bank charged me ALOT for payment protection- looking at the terms you literally couldn't claim. So tough shit on the banks I say.

If it went back over 10yrs I'd do it without hesitation. From memory they got almost £400 from me without any real chance that they'd pay out for any claim.

As above - I'd never taken PPI out on anything, I took out a loan ~6 years ago and it's due to be paid off next month.

I got an 'annual statement' through for my loan (the first one ever) and it stated that it was a loan with PPI.

I phoned the number on the letter and they confirmed that i'd not taken PPI out with the loan but couldn't explain why the statement indicated the loan had PPI. they gave me the number of the PPI helpline who told me that the PPI had been added ~12 months after the loan had been taken out and wondered if i'd phoned up to get PPI cover added...

To my shame i'd not noticed my loan repayments going up, i'm still not great with money but no where near as bad as i was then :$

TOJ, Jambo - if you're unsure as to what loans you've had and who with you can do a credit check/report with someone like Experian. I did this a few months ago when I first thought about trying a PPI claim. It shows the loans/credit cards I've had over the past few years (I think 6 years).

But my disorganisation has led to me doing nothing so far and I have no idea where the Experian report is at the moment.

i have had a plethora of loans over the last 10 years through HSBC and a couple of credit cards but not sure of the companies involved - what can i do - anything?

My wife had taken out a few loans over the years. Spent 15 minutes filling out the PPI claim for with her and she got £8k back after 5 weeks.

Can you stop the annoying texts? How?

My wife had taken out a few loans over the years. Spent 15 minutes filling out the PPI claim for with her and she got £8k back after 5 weeks.

how vague can you be?

most of my finance has been via barclays/barclaycard & Egg who got taken over by barclaycard.

Had a loan with Northern Rock a few years ago.

They contacted me last year with a letter saying their records showed that I had a loan with them, did I want them to investigate. Supplied a return letter and SAE that I just had to sign and send back.

I ticked and sent back - a month later I received a letter saying they couldn't determine either way so would be giving me a full refund plus the interest on the money I would have received in that time.

Although the letter did stress that it was not an admission of liability.

I literally had to do nothing and to be honest wasn't going to do anything either. 8)

Ended up with £3100 and didn't have to pay a penny to a claims company - although you do have to pay tax on the interest accrued

i like most am in a position where i have absolutley NO idea if i'm entitled to anything... but i'm all up for a free lunch. Generally i decline PPI when offered... but in all honesty pay little attention as to whether i have or who my CC/loans/debts were with at any given time, there's been many many.

I'm guessing in my case it would be easier to just go through a 3rd party, answer questions and see if anything came of it ?

Otherwise it's an Experian report then writing to all the various companies ?

75% of something is better than 100% of £0.

how can i find out what loans/credit cards etc i have had in the last few years? Got some paperwork but not all and a piss poor memory

Experian/Equifax

Ok Well I've done it myself dead easy really download the standard form fill it out and all banks etc have a web site go there under contact us find there PPI address then post your claim out of 5 claims I've had 3 pay out a total of 10K + this includes two new bike treats in the process lol.

😀

badllama has clinched it for me. I want that titanium winter bike.

Well i've done the Equifax report but it's vague, as in it only gives me certain digits of the accounts/references...

I'll need to research more.

IMHO there's pros and cons of doing it yourself, certainly if you know exactly what financial products you have had, and experian/equifax can help with this, then it would seem sensible to do the paperwork yourself.

With a complicated financial product hsitory I'm going to ask a claim company to do that for me, and for that they can have a portion of any money due.

I also just looked quickly at moneysavingsexpert site to get an overview of the pros/cons and its certainly worth a look before you make a claim.

[url= http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance ]moneysavingexpert[/url]

I made a call to HBOS at lunchtime with some very vague information and it seems they managed to track me down in their records. My claim have been equally vague and speculative, but they've said they'll look into it.
I'll dig out the Experian call and give them some more firm information later now I have a reference number.

So - I've had the same barclaycard for over 10 years.. I never take a lot of notice of the letters they write me, and generally owe it about £1500...
I don't ever remember taking out PPI, but no idea if any has been sneaked on?
Where do I start?
I'm happy to use a company if I don't have to pay anything up front - 75% of something is better than 100% of nothing?

I get loads of texts, some with specific amounts on them - are these total bulls**t, or have they done any research?

wwaswas - Member

If you've had a loan with PPI on it then claim away.

The banks have got the money sat there waiting to be claimed.

Erm...don't you have to claim that it was MIS-SOLD to you?

If not, it's fraud.

Done it, well the wife did all the work for me all I did was sign bits of paper. We didn't use a claims company did it direct ourselves. Got some cash back, a lot more than I thought we would!

Erm...don't you have to claim that it was MIS-SOLD to you?

as I have always actively turned it down, if I have been paying it then its fraud on their part...

You know the banks'll have to find a way to get all this free money back again? Probably one that'll cost the rest of us, that had the sense to decline PPI 🙂

You know the banks'll have to find a way to get all this free money back again? Probably one that'll cost the rest of us, that had the sense to decline PPI

The ones we've been subsidising with our idiocy for the last decade or so, you mean?

I never thought of it like that. Thanks, you big dunderheads 🙂

How far back into the past can you claim for? I had ppi on loans when I wAs freelance back in 2001 -2005

Mis-sold. I agree, however there have been plenty of cases where the terms have not been adequately explained (eg: did you know specific medical conditions were not valid? Which?), or there was an auto-acceptance that wasn't pointed out at the time so you weren't properly given the chance to opt out, or even as in some cases above where the PPI was added later without permission or knowledge.

I'd like to think I'm savvy enough to say that where I've been offered PPI I've declined it. But have i had cases where PPI was included without my knowledge? I don't know - if I've had a loan in the past and PPI wasn't offered I've previously assumed it wasn't an option that needed declining; now maybe it wasn't offered but was added on anyway.

Im going to enquire as well. Ive had a fair few loans over the last few years.

I have no paperwork at all. Can those who have used a company to get recourse advise on who to use? Id imagine those that take the lowest cut.

A long time ago I took out some PPI they said they'd pay back if I didn't claim, which I didn't and I didn't get paid.

I've since lost the paperwork but for the sake of filling out a form (readily available on the banks website) and the cost of a stamp I thought its worth a punt.

Can those who have used a company to get recourse advise on who to use? Id imagine those that take the lowest cut.

Yes, who is good?

DON'T go with a company. The banks all have special depts set up to handle everything. Just call them and tell them you want to start a complaint, they then have a certain amount of time to respond which might involve sending you out some forms to fill in or might just be that they send you a letter offering you a settlement. if they don't it's against financial ombs regs.

just call the bank!

£3k from mine earlier this year...

Like others on here I'd be interested to hear from those who have actually gone through the claim process.

I have a loan and have had many credit cards over the past few years and have always actively refused PPI. What I dont know is whether they have sneakily added this without my knowledge.

Is there a simple way of finding this out or do you have to delve through all original loan/ c card agreements?

jonjones - I spoke about a loan I took out in 2000 which ended in 2005 and another that started in 2006 and finished in 2009. I think there isn't a limit, however they say that it might not be possible to trace anything more than 6 years ago (from loan ending).

Erm...don't you have to claim that it was MIS-SOLD to you?

The issue with PPI (although this varies a little from vendor to vendor) is it was a policy that could pretty much only be mis-sold. If you look at typical insurance policies the major chunk (all but a few percent in some cases) of the premium is used to pay claims, with PPI schemes less than 10% of the income from premiums was going back out as payouts, not by accident, thats how the schemes were devised from the offset - as a pocket lining exercise. Even if you knowingly ticked the box for the cover you would have done so in good faith that you were buying a legitmate insurance product, what you didn't know was the payments you were making were 90 - 95% commission and only 5% - 10% premium.

Fully understand that the claim process can be one by the individual, but cannot be bothered with sorting out past loan and credit details.
So which claim's management company have you used and what % did they charge?

http://www.which.co.uk/campaigns/personal-finance/the-ppi-campaign/

This guide and auto-fill letter template on Which? website seems to be quite good and has all the appropriate details for the particular financial institutions. I've used this to send some away recently but still waiting to hear. Worth a go! My brother got £6k back.

but back to the issue - I don't remember exactly who all my loans were with over the years, although i remember a number of the companies (GE Capital, Black Horse, V12, to name a few, plus a multitude of CC companies) - and I sure as hell haven't kept the paperwork for loans that finished some years back so can't say what the terms etc. were.

If I get a claim company to progress for me, can they check this by enhanced credit checks for example, then they send me all the forms to sign or will they turn their noses up at the thought of having to do some work?

If I get a claim company to progress for me, can they check this by enhanced credit checks for example, then they send me all the forms to sign or will they turn their noses up at the thought of having to do some work?

Yes, they do all of this and they are happy to because they take a cut.

we just did it and got £1400 back!

but it was on our barclays account not a loan, most people seem to think PPi on loans.

anyway we got charged about £8 a month for PPI on an overdraft, the wife just sent a bog standard claim letter off and forgot about it, 3 weeks later we had a letter saying they have looked into it and that was that.

Did this on the back of this thread with Egg on a loan I had for a car 10 years ago. Just over £2,000 back today. Thanks for all the posts on this thread. Definitely worth avoiding these claim companies. Took me 5 minutes.

DO IT! Write to the bank to ask if you've had a loan with them, if you've forgotten/lost the details, they have to tell you. Then write to them again once you've got the details saying you believe you had PPI, what are the details. They have to send this to you. hen finally write to them saying you think you were miss-sold, and they have to look into it. EASY. Use the Moneysavingexpert website. do it yourself, don't use a company. It's as easy as 3 letters and as cheap as 3 stamps.

Have been thinking of doing this myself for a few months, ive had a few loans and credit cards over the years and WAS going to give one of those companys a ring and let them sort things out , but ive just been onto various bank and credit card websites and they all have there own claim forms on the websites, so save yourself some money and go direct ... i am at the weekend 😀

[quoteI never thought it was worth it as I've always turned anything like that down.

but free money sounds like a reason to start caring...

Its not free money, you are simply Claiming back what you already paid!!