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PPI- can you recommend a company?

(58 Posts)
LynetteScavo England Tue 14-Aug-12 10:02:06

I've put off doing this because it all sounds so confusing.

There are so many companies offering their services, I don't know where to start.

Please don't suggest doing it myself, as it's just too much for me atm.

Those companies are a rip off and will not save you any work. Seriously it's fine to just write a letter simply saying you think you've been missold ppi.

pud1 Tue 14-Aug-12 10:40:22

I know you dontfeel like doing it yourself but it's just too easy. You will end up loosing about 20% using a company. By the time you have found a company to use and gone through the call with them you could have downloaded the letter from moneysavingexpert.com and done it yourself. I did it for my bil and it took me minuites.
Have you got the loan details

Please don't use one of these rip-off companies sad

It may actually cause you more hassle! There is a form on MSE website, simply fill it in and send it off, it's so easy and takes a couple of minutes.

I'd link but I'm on my phone

pud1 Tue 14-Aug-12 10:42:20

I will talk you through it step by step and link the pages if you like.

We're here to support you, it really is very easy and no hassle. I promise.

I've done it 6 times now, I'm an expert grin

LynetteScavo England Tue 14-Aug-12 10:46:10

All I have is the account numbers of the credit cards I have/had. Is that enough.

I'll have another look on MSE.

And where do I send the letter - head office?

LynetteScavo England Tue 14-Aug-12 10:47:00

You all sound so lovely! smile

I have to go out for the day now, but will be back this evening - with questions!

Yes that's enough, and yes usually head office. Or if you tell us which companies we can google the complaints dept address for you.

BlingBubbles Tue 14-Aug-12 10:49:22

There was a massive thread on this a few months back, don't use those companies as everyone has said they are a massive rip off, going to he money saving expert website, download the ppi complaints template, fill it and send it off, it's seriously that easy. I have just received £3k back from doing just that and I didn't have any of my paperwork.

pud1 Tue 14-Aug-12 10:49:49

[http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step1]

Use this link. You need to write to the lender.

I got 5.5k for my bil. I don't have any loans or credit cards to claim from. All it cost him was a bottle of perfume as a thank you, much cheaper than giving some company over 1k

pud1 Tue 14-Aug-12 10:50:51

I might be ok at claiming pip but I am crap at links. Sorry

LynetteScavo England Wed 15-Aug-12 09:16:02

Thanks - I've just done the first letter,asking for a copy of the credit agreement (terms and conditions letter).

Can I send the letter paper work request letter at the same time?

Sorry, I know I'm being thick.

Ive never used that one Lynette, I just filled out the ombudsman form (under step 3 on MSE I think) and sent that off.

A couple of the claims I didn't even have account numbers for!

LynetteScavo England Wed 15-Aug-12 13:40:55

On the step 3 form ; Section A.4 - What's the policy number of the payment protection insurance you are complaining about?

I don't have a policy number - but I do have the account number the policy was for. Nowhere does it ask for the account number, as far as I can see.

Should I just leave this blank and send of the form? Or should I sent off letters 1 and 2 first, and wait for the policy number? I'm presuming I should wait.

firstbubba Wed 15-Aug-12 13:47:25

Dont use a company do it yourself all the info you need is on the Financial Ombudsman Service website

WhenDoISleep Wed 15-Aug-12 13:47:44

On the form there is a space for the account number that the PPI relates to (at the top of one of the pages) that will be enough for the company to find the PPI policy number. I have made two successful claims this year just by giving the account number

WhenDoISleep Wed 15-Aug-12 13:49:24

I just sent the questionnaire directly both times - if the lender wants more information they will write back to you.

Under the policy number question I just wrote 'can't remember'.

It didn't hold my claims up.

So no, you don't need the policy number. Just send the claim form off.

LynetteScavo England Wed 15-Aug-12 20:22:50

In Section E it asks about what happened when I took out the PPI - where the sale took place, why I decided to take out the insurance, etc. I can't remember. Is it OK just to put that?

Is that the section where you say why you think it was missold?

LynetteScavo England Wed 15-Aug-12 21:59:57

The first part of that section,yes. I remember having a phone conversation with someone once, who insisted it was in my best interest to have PPI, but I have no idea if it was for this credit card.

In the second part,asking what my complaint is I've put I was self employed at the time and now understand I would not have been able to make a claim.

YY you need to say that the PPI was of no use to you because of being self-employed but that this wasn't explained to you at the time. Depending on the financial product it was taken out on, you could also you thought/it was implied that your chances of acceptance would be greater if you took the PPI.

Badvoc Wed 15-Aug-12 22:40:50

What do you do if you no longer have the details of cards you had?
(house move and things have gone missing)

You can ring the companies up and ask. They will be able to trace you from previous address and date of birth.

LynetteScavo England Thu 16-Aug-12 11:06:08

Somewhre on the Money Saving Expert site is a list of the banks phone numbers.

Badvoc Sat 18-Aug-12 09:39:11

I got a credit free credit report and got the info from there.
So yesterday we claimed back ppi from our first mortgage, an exit fee and ppi from a credit card from years ago.
It probably wont be much, but at least I have tried!

coconutparadise Sat 18-Aug-12 13:39:31

We didn't even have to write letters. We made 3 phone calls and received nearly £20k back. We had the account numbers from our loan and credit card, but not for our mortgage. The PPI department gave me the number to call to find it out and they took about a minute to find it. It really was easy.

Good luck!

LynetteScavo England Sun 19-Aug-12 13:56:14

So what happens about getting the money back.

I have sent of the two letters and "consumer questionnaire" form. What happens next?

You sit back and wait Lynette smile

You will probably get a letter acknowledging your claim and then a nice cheque should land on your doormat about 6 weeks later grin

LynetteScavo England Sun 19-Aug-12 16:23:29

grin

FuzzzyDuckosaurus Sun 19-Aug-12 22:33:18

Hello, crashing thread...

I've just done 3 letters for claims to my mortgage, will post tomorrow.
Was wondering about credit cards, I've had a few but not a clue if I had ppi on them. Is it worth sending off a form anyway? What one should I use?

Thanks smile

uselfullife Sun 19-Aug-12 22:38:19

What cc co is it?

With some, mbna and natwest, e.g you can just make a phone call

FuzzzyDuckosaurus Sun 19-Aug-12 22:42:37

I have one with virgin and one with halifax

FuzzzyDuckosaurus Sun 19-Aug-12 22:53:43

Oh and a card with m&s blush

uselfullife Sun 19-Aug-12 22:57:52

Virgin I think now comes under mbna
Not sure about Halifax
M +s are good about giving the money back

Check out their websites, they all have a designated ppi phone number now

There is a huge thread in money matters....called
" I urge you all to claim ppi" something like that

HildaHotPants Sun 19-Aug-12 23:56:40
LynetteScavo England Tue 13-Nov-12 21:07:24

Just to update.

Today I got a letter saying they are willing to pay back nearly £2K. shock

I'm not sure I believe it.

For the first time in my life I did a happy dance. grin

THANK YOU MUMSNETTERS!

honestypays123 Wed 26-Dec-12 20:28:47

We received a letter a few days ago completely out of the blue from a company we had quite a few personal loans with from 1998 onwards stating they had had another look at our acccount and had make a cock up basically (originally said a couple of years ago NO CLAIM!) and would now like to put things right. P.S; The loans have long since been paid in full. The loans ran concurrent in that we had a loan and part the way through it we got another loan (a top up if you like) which paid the original loan off and gave us new funds. Did that 3 times over in all and yes we had PPI with all the loans. When we applied for the first loan back in 1998 we were told in no uncertain terms we had to accept PPI otherwise no loan! At the time we were 'black-listed' so only the odd company would even look at us...at a price of course! Ok so the company would now like to refund us which is good but the only doubt we have is that on the form which we both have to sign it states..."the refund of premiums and cancellation of any remaining payment protection cover will act as full and final settlement of any claim or complaint about this Payment Protection Policy". Now that in our eyes is all well and good BUT there are no figures stating how much they owe us and are about to refund us etc? So we both sign, send the letter back and within 28 days they refund whatever is owing to us...but we don't know that whatever they are about to refund us is correct or not do we? Whatever they say goes it seems. We are totally clueless as to what is owing to us. Surely we should have been sent a statement/breakdown of facts etc? Remember above..."will act as full and final settlement of any claim". So they pay us say £50 into our bank account, how do we have any comeback if that was the case? Too late they would say, you signed the letter accordingly. Hope someone reading this understands what i've written and can hopefully advise? Thank You.

ForbesDouglas Thu 21-Mar-13 13:35:27

Unfortunately it's normal practice for companies to make an offer without any actual numbers. It's infuriating and very confusing for most people.

If the offer says something like "this will put you back in the same financial position you would have been in had you not taken out PPI", then your lender is obliged to accurately calculate:

1) how much you paid towards PPI
2) any interest incurred because of the PPI payments
3) 8% per annum statutory interest on top of items (1) and (2), from the dates of each individual loan repayment, to the date of the mis-selling refund.

Depending on how long ago the loans started, the 8% statutory interest can be very substantial - sometimes more than the original PPI payments and interest combined. It is also the most difficult element to calculate. Lenders sometimes get it wrong themselves!

If the offer said it will put you back in your original position, but you believe your final refund falls short, then you can ask the Financial Ombudsman to review your lender's calculations.

Good luck!

redstalkedoat Mon 06-Jan-14 16:09:58

Hi,

Please help. I asked for the codes and now there are 3 separate claims to make, from what I understand I need to fill in a form for each claim? There are 10 pages of forms to fill in for each one. I don't have time to do this, I know it was missold as I never agreed to it, it was just put in.

Has anyone found a company that could help? I know everyone keeps recommending I do it myself but I work full time, I don't have time to go to a salon, let alone fill in 30 pages of forms.

financialwizard Sun 12-Jan-14 11:36:09

My husband recently received a letter from Natwest with all his loans on (4 over the last 10 years) and it was 4 pages long so I would say if they are with the same company you could probably put them all on one form.

minibmw2010 Sun 12-Jan-14 18:10:26

Redstalkdoat - you would rather go through a PPI company than spend half am hour filling out 3 forms? That's daft !!! Even if the forms are 10 pages long most of it you'll be putting 'dont know' or one or two word answers! I sent off 2 letters, one phone call and received almost £3k for the cost of 2 stamps and maybe one hour of my time!

Popscene88 Tue 14-Jan-14 19:49:20

Hi,

I work in the field (quality and compliance for a credit card company's complaints department) just thought I'd chuck my advice in.

Please don't go through a claims management company. I know the FOS form is long but honestly the majority of complaints I see most people have out "don't know" or "can't remember" down as most answers, and my company are obligated to investigate the sale anyway. Like most people have said already, these companies are a rip off and in some cases actually acting outside industry guidelines.

Also bear in mind that if you owe the company money, (I'm not saying you do) such as a default, missed payments or arrears, they may offset the refund amount. For example if your PPI refund comes to £100 but you owe them £50, they will offset £50 of your debt and send you the remainder as a cheque. This is legal, and yet another reason to stay away from CMC's as if you are offered a refund but they company offset it against outstanding debt, you will be lumbered with their ridiculous fees.

Don't be afraid to chase the complaint, most companies have incredibly high volumes (when I left for maternity my place were on a 42 day turnaround) a good tip if you can't wait is to google their chief executives and email them directly. Companies usually fast track those!

Sorry for the essay, hope I helped x

JanePurdy Tue 14-Jan-14 22:09:46

Popscene88 can I jump in with a question? I have no idea if we have been missold PPI, but can I just write to the bank with our old account details claiming it, & if we did have PPI on the account we will be refunded?

Iizzyb Wed 15-Jan-14 23:01:28

Which has great info and standard letters for you to use & in some cases the claims can be made online through their website. Don't pay someone else to do it. The claims companies

Iizzyb Wed 15-Jan-14 23:02:47

Oops! Claims companies will take your money & make you do most of the work anyway.

Popscene88 Thu 16-Jan-14 19:05:46

Hi Jane, I think it depends on the company/bank to be honest, I know my place genuinely investigates claims for any complaints for real mid-selling according to FCA guidelines, but I know some banks are refunding up to a certain amount without investigating the sale x

Popscene88 Thu 16-Jan-14 19:06:41

Sorry for the typos, on my phone whilst feeding my squirmy month old!

tlouy7 Thu 24-Apr-14 16:08:37

So who can we use that will not rip us off thanks louise

Rockchick1984 Fri 25-Apr-14 09:19:03

You don't need a company, they will all rip you off. I just went onto my bank's website and found a phone number for PPI complaints. They did it all over the phone for me, took about 15 mins total.

superjeah Thu 15-May-14 09:58:22

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

superjeah Thu 15-May-14 10:05:15

yeah or you can go directly from the bank - but they have mis sold you the insurance in the first place. would you really trust them to put in a claim for you? They all have the power to reject your claim just like what they did to my mom. They just offered her 67pounds for a 5 grand loan.

PatriciaHolm Thu 15-May-14 11:53:09

No claims company has any more power to reclaim PPI than you do. All they do is fill in the forms for you and skim an exorbitant fee. Ignore the thinly veiled ads and do it yourselves - lots of help here and on moneysupermarket.

Ronnie231 Mon 26-May-14 13:16:11

Hi, please email me at ronnie@refundppiclaims.co.uk I can take this on for you

Ronnie231 Mon 26-May-14 13:17:10

Hi, please email me at ronnie@refundppiclaims.co.uk I can take this on for you

Ronnie231 Mon 26-May-14 13:18:59

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

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