Anyone had a PPI refund?

DiscoStu

I have Death & Critical Illness Protection with Prudential to cover my Alliance & Leicester mortgage, which a financial advisor arranged as part of a mortgage appointment back in 2002. It's still running but until this week I had no paperwork for it or knew exactly what my monthly payment was for (this thread made me investigate it further).

Is that PPI?

Neil

ToneControl said:

underdog said:

Neil said:

All you PPI claimers, did you never read the terms and conditions before you took out these loans and just meekly paid what the lender asked for? 

When I was an 18 year old wanting a loan to buy my first car I was offered the insurance by Lloyds, when i asked what it meant, they told me that as it was a form of security the bank would be far more likely to approve the loan than if I didn't take out the PPI. 

I believed this was the case for the next 20 years or so, thousands of pounds wasted over the years because of that lie, and the it was almost always Lloyds I took loans with.

same with me, Halifax insisted I take out PPI on their mortgage, even though I was on a temp contract and could not claim if made redundant

And you still paid it? 

Neil

DiscoStu said:

I have Death & Critical Illness Protection with Prudential to cover my Alliance & Leicester mortgage, which a financial advisor arranged as part of a mortgage appointment back in 2002. It's still running but until this week I had no paperwork for it or knew exactly what my monthly payment was for (this thread made me investigate it further).

Is that PPI?

No.

Coincidentally, my sister in laws husband had a bad accident and the insurance paid his mortgage under a similar policy.

Neil

underdog said:

Neil said:

All you PPI claimers, did you never read the terms and conditions before you took out these loans and just meekly paid what the lender asked for? 

When I was an 18 year old wanting a loan to buy my first car I was offered the insurance by Lloyds, when i asked what it meant, they told me that as it was a form of security the bank would be far more likely to approve the loan than if I didn't take out the PPI. 

I believed this was the case for the next 20 years or so, thousands of pounds wasted over the years because of that lie, and the it was almost always Lloyds I took loans with.

A timely reminder to read the terms and conditions otherwise you just don't know what you are signing up to. 

LoFi

CabbageCat said:

I had some sort of PPI thing on my mortgage for a bit but I specifically wanted it. I never followed it up because it felt like bad manners to try to get the stake refunded after a gamble fails to pay off.

It wouldn't be bad manners, it would be fraud - the compensation is for people who were mis-sold it, which you weren't if you knew what it was and asked for it - kudos for not trying to claim.

ToneControl

Neil said:

ToneControl said:

underdog said:

Neil said:

All you PPI claimers, did you never read the terms and conditions before you took out these loans and just meekly paid what the lender asked for? 

When I was an 18 year old wanting a loan to buy my first car I was offered the insurance by Lloyds, when i asked what it meant, they told me that as it was a form of security the bank would be far more likely to approve the loan than if I didn't take out the PPI. 

I believed this was the case for the next 20 years or so, thousands of pounds wasted over the years because of that lie, and the it was almost always Lloyds I took loans with.

same with me, Halifax insisted I take out PPI on their mortgage, even though I was on a temp contract and could not claim if made redundant

And you still paid it? 

they said no mortgage otherwise
anyway, I've applied for a ppi refund now

underdog

ToneControl said:

Neil said:

ToneControl said:

underdog said:

Neil said:

All you PPI claimers, did you never read the terms and conditions before you took out these loans and just meekly paid what the lender asked for? 

When I was an 18 year old wanting a loan to buy my first car I was offered the insurance by Lloyds, when i asked what it meant, they told me that as it was a form of security the bank would be far more likely to approve the loan than if I didn't take out the PPI. 

I believed this was the case for the next 20 years or so, thousands of pounds wasted over the years because of that lie, and the it was almost always Lloyds I took loans with.

same with me, Halifax insisted I take out PPI on their mortgage, even though I was on a temp contract and could not claim if made redundant

And you still paid it? 

they said no mortgage otherwise
anyway, I've applied for a ppi refund now

Exqctly. If you were told you had to have it by a bank you trust, why would you disbelieve them, and more importantly if you needed the loan you wouldn't risk it, hence the while miss selling scandal as a result. I had no reason to believe the bank I had used since I was a child would lie to me.

ToneControl

underdog said:

ToneControl said:

Neil said:

ToneControl said:

underdog said:

Neil said:

All you PPI claimers, did you never read the terms and conditions before you took out these loans and just meekly paid what the lender asked for? 

When I was an 18 year old wanting a loan to buy my first car I was offered the insurance by Lloyds, when i asked what it meant, they told me that as it was a form of security the bank would be far more likely to approve the loan than if I didn't take out the PPI. 

I believed this was the case for the next 20 years or so, thousands of pounds wasted over the years because of that lie, and the it was almost always Lloyds I took loans with.

same with me, Halifax insisted I take out PPI on their mortgage, even though I was on a temp contract and could not claim if made redundant

And you still paid it? 

they said no mortgage otherwise
anyway, I've applied for a ppi refund now

Exqctly. If you were told you had to have it by a bank you trust, why would you disbelieve them, and more importantly if you needed the loan you wouldn't risk it, hence the while miss selling scandal as a result. I had no reason to believe the bank I had used since I was a child would lie to me.

I knew it was an immoral tactic from the bank, but had no power to do otherwise, we were both on temp contracts, and it was the only lender available for us.

cacophony

iirc you can't make a claim against any account etc you've opened after 2010,
i started a claim this last week. when we dug out all our account details i was staggered. since 1992 we've had 11 seperate bank accounts and credit card issuers. plus one loan.

we are using a third party to do it for us. i am a practical sort, but absolutely HATE paperwork. and am very lazy when it comes to personal admin, the company take 25% but i look at it that i will get 75% of something that i couldn't be arsed to get myself.

If we get anything at all that is. but meh, why not?.

underdog

I've already had letters from Lloyds showing the loan numbers and credit card numbers they are looking in to for me. 

They done that from the little information I provided on the resolve site, there seems to be little to no paper work to be done if you do it that way.

cacophony

fair enough, but i'd be looking at chasing 11 companies myself, and i just know that i would be good as gold on the first one, but give up by about number 3.it's just how i am. when i fill in any forms my writing is beautiful, clear almost copperplate on the first line. by the time i get half way through it's barely legible, and by the end it looks like i've suffered a stroke mid sentence.

57Deluxe

But - the system/process is to ask them if you have any PPI... if they answer No, are they always telling the truth??

TimmyO

I used that online tool thing and submitted one claim and 3 enquiries

underdog

Just a quick update, so I filled in my details on the resolver site, I had little information just bank name really, then Lloyds phoned me and asked some questions, to which I mostly answered "I don't know it was such a long time ago", and yesterday Lloyds put £4100 in my account. Literally 15mins of my time is all it took.

builttospill

Yes I did it myself for a graduate loan I had with HSBC in late 90's I filled in the questionnaire, dealt with one awkward HSBC phone call and got £600 back. It was enough to get me a white Gretsch 5422. 

midlifecrisis

ive been meaning to get off my arse and make some claims. Like others here, i believed i was smart enough to decline ppi and insurance at the time, but apparently, on some loans/ mortgages it may have been built in and not disclosed at the time. Also beware of some companies that quote you only 25% to claim for you as there seems to be some cases where the loan wasnt followed through to the end , they claim their 25% of the total that would have been paid if the loan went to the end. From what ive seen, they dont actually save you any paperwork, you still have to do it through them.

fields5069

Mine is a bit complicated. When I took out my loan, I was a contractor, so I guess "director of own company" on the questionnaire. Then after about 16 months of a 60-month loan I got a permanent job. So it's obviously not my intention to lie about my employment record. However I had sufficient funds to pay myself for about 6 months in the event I was out of work / ill, though that is difficult to prove I guess. Anyway, I'll be as truthful / vague as I can be and we'll see what happens.

TimmyO

I'm almost certain I am owed. 

My case has been with Barclays (who took over the financial institution who charged me for PPI) for 7 weeks. 

Guitar_Slinger

Go for it @TimmyO .  Barclaycard took over a card I paid PPI on and rejected my claim.  They firsy said I didn't pay PPI, then when I appealed said they didn't have records.  I complained to the ombudsman and got money back last year.

TimmyO

I actually found some more info today and forwarded it on. If I've not heard anything in another week I'm going to escalate it to the ombudsman.