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PPI Claims

(11 Posts)
grandted Wed 28-Mar-12 10:52:32

Thus far only 2 claims of a total of 15 I am aware of have been settled against the PPI. Both these policies had claims using the PPI policy due to out of work. By that I mean that in each case during the life of the PPI claims where made on its policy. Can that justify mis-selling if the PPI was used to claim against? And why has that classed as mis-selling?
Other claims which had no claim against them or claim could not be made be made because of age at time of acquiring the PPI as any claim on it could not be available even whilst deductions where made have been rejected as a no mis-sale.
Whilst I have seen these rejections occurring-The TV airwaves are blasted with companies targeting further customers to act as their advisers.
The media is encouraging the man in street to make a claim though them.
The Banks are employing more and more staff to process claims and working to targets set by the FSA which are truly unrealistic in view of the nature of the efforts the banks are using to process a claim.
In reality any application that had a ticked box for PPI has in general been pressured, as an implied part of the conditions to maximise the credit on card was “AN OPEN SECRET”
All claimants must have ticked box-for the PPI to be deducted from the card whether ticked by company representative of ticked by applicant under pressure by company. If they didn’t the organisation acted fraudently.
It doesn’t take long for the Company to establish that PPI has been taken from the account.
Because of the now high rejection rate I am informed that the Financial Ombudsman is employing an extra 60 people per month to handle appeals of failures. They are receiving 2500 appeals per week. Thus far 60% of those are being upheld by the companies concerned so clearly the banks have bought time
The Financial Ombudsman claim delays the payment to the claimant by 8 months. So much for the FSA putting an 8-week window to settle claims. The banks have gained the advantage not the claimants.
Whilst the airwaves continue to bombard the public on PPI claims the situation will get worse more claimant will be put off under the 8-week clause.
I have history that the complaint as one company upholds age and mis-sale at time of sale but rejected by another. Inconsistencies maybe lack of direction from FSA.
PPI claims are just being stretched by the 8 week deadline of FSA and the 8 week clause may be used as an excuse for immediate non payment.
I am building up a list of failed cases to use as examples of mis-claim by the PPI companies and will be happy be to hear from anyone rejected and now 60+ to add to the list to send to FSA.
It appears if you are elderly and no future prospect for the service on offer the claim is treated non-priority and not settled.
Also if you claimed on the PPI policy there is a better chance of a mis-sale
settlement. How can that be a mis-sale scenario?

Greatnan Wed 28-Mar-12 15:56:50

I believe some claims management companies are charging 25% of the refund. If I had a claim I would look at the advice Martin Lewis gives (freely) on his site.

grandted Thu 29-Mar-12 10:25:35

Sadly it appears that the free advice has no weight the companies seem to be giving preference to the claim companies. Have tried taking up with Martin Lewis etc but they seem uninterested in looking into matter so have gone straight to FSA and news media to ramp up debate.

FlicketyB Thu 29-Mar-12 22:13:46

My daughter received a substantial sum of money as repayment of a PPI policy without any recourse to claims companies. Indeed she made no claim at all. Her credit card company simply sent her a cheque for the amount she had been paying out each month over a number of years plus interest

goose1964 Thu 05-Apr-12 15:39:56

I used to work for the FSA and PPI is deemed mis-sold in a numbr of ways - the easiest to prove is that the policy did not cover you (for instance you were self-employed & the policy only covered you if you were employed) others are if you said no & they took it out anyway, or if it was included in figures you were given & you were not shown costs without PPI . As one ad puts it if you didn't want, need or ask for it.

If you claimed on a policy it is very unlikely to be deemed as mis-sold unless they rejected your claim

blueyes37 Tue 04-Sep-12 10:14:10

I contacted a company to get ppi and received forms to fill in which I did and sent back nothing further has happened not a yeah or a nae think it must be a load of codswallop

nanaej Tue 04-Sep-12 10:22:58

My daughter just got £6000 from her bank for mis-sold PPI. She did it by downloading a standard claim letter and sending it to the bank where she had taken a loan. They then sent her a form to complete. Took a max of 2 months. no middle man to take a percentage!

dancingcar Tue 04-Sep-12 19:30:45

I contacted a claims company in Febuary as i knew I had paid PPi on some closed credit card accounts over the years. After 6 months, turned out Virgin was the only one i had taken it out with and as I had applied and signed on line, my claim was rejected. I was'nt working, did'nt need it and can only say my lack of understanding and internet was my down fall. My case has gone to the FSA.
I have since found an old bank statement ,2004, showing another card which I paid PPI on for a few months.I contacted them ,they confirmed this and said just send a letter stating my case. No forms, companys or anything,I may get some joy this time. By the way I have improved on my internet skills .

nanaej Tue 04-Sep-12 19:47:11

If you click the link it should get you to where you can find a template to download and fill in and send to wherever you got the loan from. Do not go through an agency they take % of your money!

ellie50 Wed 31-Oct-12 14:46:51

i have just been successful with a ppi complaint against a wellknown clothing company who also deal with finance.
all it took was a phonecall from me, details taken over the phone.
i have to say they were extremely helpful and efficient, and the whole process took aproximately 8 weeks. just waiting for the settlement figure to be paid into my account.
having been encouraged by this, i am now submitting a complaint to my bank, again another phone call, and await with baited breath!

Frankel Wed 31-Oct-12 22:25:08

I may be missing the point of this thread but the major banks have made £ billions of provisions against valid PPI claims so one presumes they, and their auditors, believe PPI was mis-sold in a big way. This admission has opened the floodgates for claims, real and bogus, so it is no surprise that all involved in assessing the claims are overloaded. Personally, I don't think I bought PPI but that doesn't stop fraudsters calling offering to pursue my claim, adding to the confusion.