OT: DIY, PPI claim?

[T i m]

Hi all,

When the whole PPI thing came out we got a small 'refund' from a PPI Co (without having to do anything). <shrug>

The one that needled me a bit at the time (starting 40+ years ago) was the PPI that I believe I was obliged to take out on my mortgage.

Many commented (even then) that it probably wasn't much good (in that you were likely to have to wait weeks for any payout's and it didn't cover many events (like you leaving your job to go to another and it not working out or being long term sick or some such)?

So, I was wondering if anyone here had processed their own PPI claim and how easy / hard was it?

FWIW, my mortgage was first with a 'local' Building Society that I believe has since been taken over / assimilated at least a couple of times (and at lest once whilst we still had a mortgage with them).

I think I rang the PPI advice line people who basically suggested I didn't have a claim (without knowing any details etc).

So, is the sort of PPI that I was obliged to take out back then the sort of PPI they are talking about?

If it's not really a diy thing, anyone recommend a good company please?

Cheers, T i m

[Steve Walker]

The big one for me has been that it didn't cover loss of household income because of my wife becoming ill (and me having to cover other costs that she used to pay) or my hours being reduced (by the company) or my hourly rate being reduced.

There was also no cover for when I was ill myself - it would have covered my being unable to work, but it didn't cover me at all as I struggled on and worked reduced hours (with reduced pay).

All in all only any good for loss of employment or illness severe enough to prevent you working at all, but nothing else.

SteveW

[cpvh]

A cow-orker of my wife?s recently got a few thousand after she claimed against her Building Soc. her claim (technically a complaint) was paid because the commission on the deal was more than 50%.

We didn?t know this was a reason to get paid, so we put in a complaint.

We actually had 3 separate mortgages and 3 separate PPIs.

They paid out some on all 3, and refunded all payments (about 15 years worth) on the largest.

They did this because I had a pre existing medical condition, and they couldn?t be sure they had taken it into account when they set up the deal.

They said it might have qualified under other things like the 50% rule, but as they were paying it all back, they wouldn?t bother checking.

Who knows how many other reasons there might be for them to refund??

I keep getting adverts on facebook for angies advice (Or Angela?s advice) which lists a free checker.

Perhaps you might want to look into that.

[tabbypurr]

very much a diy thing. Don't pay the parasites.

[Richard]

It is also possible to claim for deceased relatives.

[T i m]

<snip>

Thanks for that mate.

I've used their form / template to create an email, edited it, attached a random account statement (the only one I can find ATM) and sent it off. ;-)

I can clearly remember having a one sided conversation basically saying I take out their PPI or I don't have the mortgage. I can also remember (till I find the paperwork) that whilst it was affordable, I really could have done with the money (buying a house on my own whilst working for BT) and especially so if the PPI itself was no use in many RW circumstances. ;-(

Interesting.

Cheers, T i m

[T i m]

Good to hear. I wouldn't be interested in putting in a claim, *if* it was ever likely to do what was required but they rarely did.

;-)

On the MSM website there is quite a list. ;-)

I think I might have just been though that (but ta). ;-)

Cheers, T i m

[T i m]

<snip>

So as much use as an ashtray on a motorbike ... and I guess why all these PPI clams are going though.

Great. ;-(

Your scenario is one I have come across a couple of time via friends and left them in quite a big hole.

I guess the bottom line on all this is just how much the insurance companies are making (in profit), or not. If they aren't then obviously (ignoring inefficiencies in their system) the cost of the risk outweighs the premiums. It's when they are making fortunes and not paying out real world / genuine cases that really should have been covered it falls into what most people would consider 'bad practice' or 'mis-selling'.

Cheers, T i m

[T i m]

<snip>

Ambulance chasers eh? ;-)

You can generally tell when there is a scam at hand, they phone you (DG, FIT, PPI, Car crashes, Personal injury etc etc).

Cheers, T i m

[Dave Liquorice]

Ta, I'll have a look at that link. I might have hadd PPI on my mortgage back in 1985 but I'm not sure I have any documentation still kicking about from back then. Similary on a car loan from about the same period...

Surely they must have the records to check for a valid claim? So why not just search those and automaticallly pay out. Or is the only existing evidence what you send 'em...

[Richard]

Why not read the actual stuff linked to? Here's a bit: If you don't know if you had PPI, who your lender was, are missing info or lack paperwork, don't worry ? it's easy to find out Lots of people are put off reclaiming PPI because they don't have full details or can't remember them, but don't let this stop you.

It's dead simple if your loan was active up to six years ago. The bank will have all the details, but while banks aren't required to keep records that are over six years old, there are still ways to try to find out if you had PPI. Here's what you need to do...

Don't know if you even took out PPI?

Don't feel silly if you don't know ? this is the number one question we get. First, you can try finding out by going back through all your old loan and mortgage statements and checking for any mention of an insurance fee or product to cover your payments if you lost your job through accident, sickness or unemployment.

Look for something that may be called 'payment cover', 'protection plan', 'ASU', 'loan protection', 'retail payment protection', 'loan care' or similar.

Can't remember who your lender was? Check your credit report

If you don't have documentation or simply can't remember which lenders you've borrowed from, don't worry ? you can check your credit report. It lists loans, mortgages or other debts that were live within the last six years, even if they're now closed.

Sadly, though, it's not quite that simple ? while you'll be able to see which lenders you've had accounts with, your credit report WON'T tell you if the accounts had PPI or not. But at least you'll know which lenders to check with.

[Dave Liquorice]

Fair cop.

...

...

6 years doesn't go back anything like far enough, I need 30+ years back.

I'm pretty sure that the mortgage had some form of payment protection but I don't think I have any paper work, I think I've looked before. Not even sure who the lender was... That mortgage was paid off 20 odd years ago.

[Richard]

I'm not being paid for this you know! From a quick search:

<q>

How far back can I go? As long as the PPI was active within the past six years (or is still active), then reclaiming is fine: for example, you took it out in the Nineties but were still paying it five years ago. For older policies, you can still try to reclaim (and some succeed), but the chances are lower.26 Jun 2012 </q>

or you could try a claims company who will take a cut: