Mis-selling of PPI

unas escarlata · **Mis-selling of PPI -** 25-10-11, 03:45 PM

If anyone has had a loan and believes they have been mis-sold this insurance I strongly urge you to approach the lender with a view to an investigation. New legislation means that the banks are supposed to contact you if they believe they have mis-sold you the policy but no-one contacted me. I sent them a message saying that I believed as I was self employed the policy wouldn't have covered any out of work periods and as such I would like them to investigate with a view to refunding me.

I have been on the receiving end of a rather nice little cheque which enables me to close my credit card.

Don't ask don't get!

persianista · 25-10-11, 04:11 PM

interesting.......

Zo Zo · 25-10-11, 04:12 PM

Yes, and PPI is something that has been genuinely mis-sold to many people. There is a lot of info about how to claim on Money Saving Expert: Credit Cards, Shopping, Bank Charges, Cheap Flights and more

stephanie_87 · 25-10-11, 04:34 PM

Yes, my boyfriend had the same thing. He has been self employed all his life and wrote to them saying he would never have been able to make a claim due to being self employed and he too received a cheque. Being sold PPI while you are self employed is a massive mis sell and they don't even hesitate. Really worth doing

Urbanspa · 25-10-11, 05:46 PM

I just got back 2 out of 3 PPI payments back from Lloyds, about £4500 so far and expecting another £1300. Just as I needed it back thank goodness

TigerNails · 25-10-11, 10:03 PM

Its really easy to make a complaint too. Dont let any cold calling company offer to claim on your behalf claiming they can get more.....they are talking rubbish. Banks are regulated and duty bound to give the right outcome to each individual customer regardless of how they complain or who they complain through. Treating Customers Fairly is quite big with Banks and the FSA right now.

Id recommend anyone who has had a credit card or a loan to make a complaint EVEN if you KNOW you didnt have PPI, cos the chance are, you were probably sold it without the foggiest idea it had happened....Very Derren Brown!

Money Saving Expert website will probably have template letters that you can download and customise.....

And whilst your on the PPI bandwagon, you might as well get your mis-sold endowment template sent off (for those slightly older geeks hehe)

unas escarlata · 10:29 PM

Quote:

Originally Posted by TigerNails

Its really easy to make a complaint too. Dont let any cold calling company offer to claim on your behalf claiming they can get more.....they are talking rubbish. and they'll take about 42% for their trouble!!
Money Saving Expert website will probably have template letters that you can download and customise.....I didn't even use template, I just wrote via their secure messaging on the website asking them to investigate

TigerNails is right, it is really easy.....PM me if you want any more info, happy to help....

Extrovert · 25-10-11, 10:49 PM

I have had a few thiusand back too! Beware of companies offering to do it for u, I have had to give 25% away and I could have done the claims myself! X

chocolatepickle · 25-10-11, 11:05 PM

So I have this and thought I needed it, so its no good for self employed then? Do you just get back what you've paid?
Will they close my credit card though if I claim?

Annemarie · 25-10-11, 11:33 PM

Quote:

Originally Posted by unas escarlata

If anyone has had a loan and believes they have been mis-sold this insurance I strongly urge you to approach the lender with a view to an investigation. New legislation means that the banks are supposed to contact you if they believe they have mis-sold you the policy but no-one contacted me. I sent them a message saying that I believed as I was self employed the policy wouldn't have covered any out of work periods and as such I would like them to investigate with a view to refunding me.

I have been on the receiving end of a rather nice little cheque which enables me to close my credit card.

Don't ask don't get!

Very interesting.

Extrovert · 25-10-11, 11:41 PM

Quote:

Originally Posted by chocolatepickle

So I have this and thought I needed it, so its no good for self employed then? Do you just get back what you've paid?
Will they close my credit card though if I claim?

You should get back what you paid plus 8% interest. No Ppi is pretty useless for us self employed x

Zo Zo · 26-10-11, 06:54 AM

Quote:

Originally Posted by chocolatepickle

So I have this and thought I needed it, so its no good for self employed then? Do you just get back what you've paid?
Will they close my credit card though if I claim?

I think if you read the small print you will find it would not pay out in the event of a claim. Therefore, mis-sold. No, they will not close your c/card. I think what the OP was saying is that the cheque she received enabled her to pay her c/card off.

unas escarlata · 02:40 PM

Quote:

Originally Posted by chocolatepickle

So I have this and thought I needed it, so its no good for self employed then? Do you just get back what you've paid?
Will they close my credit card though if I claim?

Basically, this payment protection covers any periods when you are out of work BUT if you read the small print, it won't cover people who are self employed. They also pay interest (8%) and any fees you incurred for going over your limit but no, they don't close your card. I have chosen to pay mine off and close the account because I'm bloody minded and I don't want them having any more of my money. Glad I chased though as it's not an insignificant amount.

TigerNails · 26-10-11, 06:15 PM

Quote:

Originally Posted by chocolatepickle

So I have this and thought I needed it, so its no good for self employed then? Do you just get back what you've paid?
Will they close my credit card though if I claim?

In line with the other geeks, no they wont close your card. In fact, in the interest of treating customers fairly, they are not allowed to do this, if the do, go straight to the Financial Ombudsman Service (FOS) and you may very well get your card re-opened and an award for Distress and inconvenience. FOS guidelines on D&I for something like this may award around £100! Banks dont want to annoy the FOS! (plus it costs them £500 every time a customer complains through their service....free to the customer)

zonebeuauty · 26-10-11, 10:55 PM

I to have looked into this i recived a nice Chq off my credit card(banks) waiting on one for loan with the same bank,and doing claim with my car finance.
All it takes a phone call thay have to responed within 12wks,if not you can take it to Ombudsman financial service thay take over the claim and its free.I have the phone number if any of you need it.

unas escarlata Uber geek Posts: 1,371 Join Date: May 2011 Location: Marlborough	Mis-selling of PPI - 25-10-11, 03:45 PM If anyone has had a loan and believes they have been mis-sold this insurance I strongly urge you to approach the lender with a view to an investigation. New legislation means that the banks are supposed to contact you if they believe they have mis-sold you the policy but no-one contacted me. I sent them a message saying that I believed as I was self employed the policy wouldn't have covered any out of work periods and as such I would like them to investigate with a view to refunding me. I have been on the receiving end of a rather nice little cheque which enables me to close my credit card. Don't ask don't get!

Qualifications

persianista Grand Geek Posts: 4,936 Join Date: Apr 2009 Location: Fluffyland	25-10-11, 04:11 PM interesting.......

Qualifications

Zo Zo Grand Geek Posts: 2,716 Join Date: Apr 2007 Location: Earley, Berkshire	25-10-11, 04:12 PM Yes, and PPI is something that has been genuinely mis-sold to many people. There is a lot of info about how to claim on Money Saving Expert: Credit Cards, Shopping, Bank Charges, Cheap Flights and more

Qualifications

stephanie_87 Geek Posts: 110 Join Date: Apr 2011 Location: Farnborough	25-10-11, 04:34 PM Yes, my boyfriend had the same thing. He has been self employed all his life and wrote to them saying he would never have been able to make a claim due to being self employed and he too received a cheque. Being sold PPI while you are self employed is a massive mis sell and they don't even hesitate. Really worth doing

Qualifications

Urbanspa Geeky Posts: 183 Join Date: Mar 2011 Location: England, UK	25-10-11, 05:46 PM I just got back 2 out of 3 PPI payments back from Lloyds, about £4500 so far and expecting another £1300. Just as I needed it back thank goodness

Qualifications

TigerNails Geeky Posts: 166 Join Date: Jan 2011 Location: Wakefield	25-10-11, 10:03 PM Its really easy to make a complaint too. Dont let any cold calling company offer to claim on your behalf claiming they can get more.....they are talking rubbish. Banks are regulated and duty bound to give the right outcome to each individual customer regardless of how they complain or who they complain through. Treating Customers Fairly is quite big with Banks and the FSA right now. Id recommend anyone who has had a credit card or a loan to make a complaint EVEN if you KNOW you didnt have PPI, cos the chance are, you were probably sold it without the foggiest idea it had happened....Very Derren Brown! Money Saving Expert website will probably have template letters that you can download and customise..... And whilst your on the PPI bandwagon, you might as well get your mis-sold endowment template sent off (for those slightly older geeks hehe)

Qualifications

Extrovert Geeky Posts: 249 Join Date: Nov 2008 Location: wales	25-10-11, 10:49 PM I have had a few thiusand back too! Beware of companies offering to do it for u, I have had to give 25% away and I could have done the claims myself! X

Qualifications

chocolatepickle Freaky geeky Posts: 1,269 Join Date: Apr 2009 Location: Essex	25-10-11, 11:05 PM So I have this and thought I needed it, so its no good for self employed then? Do you just get back what you've paid? Will they close my credit card though if I claim?

Qualifications

zonebeuauty Real geeky Posts: 311 Join Date: May 2011 Location: Liverpool	26-10-11, 10:55 PM I to have looked into this i recived a nice Chq off my credit card(banks) waiting on one for loan with the same bank,and doing claim with my car finance. All it takes a phone call thay have to responed within 12wks,if not you can take it to Ombudsman financial service thay take over the claim and its free.I have the phone number if any of you need it.

Qualifications