[Closed] reclaiming ppi

Do not use a claims management company.
It's an incredibly simple process to do it yourself.

Some research http://singletrackmag.com/forum/topic/ppi

What FC said - these companies will "randomly fill out forms and send to lenders with basically just my name" and then take 40% of what you reclaim.

Have a look at MSE's "resolver."

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

This testimony was in the MSE email today:

[i]"Just wanted to say thanks for pointing me to the Resolver tool on your site. I submitted two claims for old loans from about 17 years ago - it took hardly any time at all to fill in and submit the forms.

"To be honest I didn't have high hopes as I had no idea of my account numbers, just the approximate years that I took out the loans and the bank branches I used.

"[Then] I received £1,546 in compensation from RBS including for three loans that I hadn't recalled taking out a long time ago - and I'm splashing out on three season tickets for Newcastle United's return to the Premier League, much to the delight of my two sons.
[/i]

I've posted this before, and the process may not work for everyone, it depends on their relationship with their bank, but the subject came up during a conversation I was having with my account manager at Lloyds, when I mentioned I'd had a letter about it, but I couldn't really get my head around what was needed, partly because I had no idea if I'd ever had PPI or not, or how to find it.
She offered to do the work if I got the paperwork, gave me a number to call, and drop it in when I received it, which I did.
A while later she called me about an item on my account which she didn't recognise, and said she had my PPI payment, if I'd like to pop in.
After sorting out the account item, she asked how much I thought I might get back, so I said I'd be chuffed with a couple of thousand!
She giggled and handed me a piece of paper, which had £11,680 printed on it!
It helps a lot if you have a really helpful account manager, which I do; I wouldn't even think of changing banks unless she left, she's a real gem.

so what you guys are saying is that as i had a mortgage with halifax in the 90s/00s, i have no paperwork but i could work out when i took it out and from what branch, i should just wing it with the mse tool and see what happens?

same goes for a couple of credit cards i had ages ago?

I'm currently on £18,000 reclaimed, with more outstanding. I'd had 5 bank loans with one lender and each had a PPI added on the sly.

Also one store card had PPI on it, which netted £5000 for an hours work.

Piece of cake to do; very lucrative.

Get stuck in I'm racking my brains to think of any other financial products I might have had in the 90's

so what you guys are saying is that as i had a mortgage with halifax in the 90s/00s, i have no paperwork but i could work out when i took it out and from what branch, i should just wing it with the mse tool and see what happens?

same goes for a couple of credit cards i had ages ago?

Yep.

The banks have basically rolled over, it's cheaper / easier to pay out than contest it.

I contacted the bank and credit card providers that I had in the 80's-early 00's directly using numbers on their websites.
About an hours work and two phone calls later over about a month I had a cheque from each of them.

Yep.

The banks have basically rolled over, it's cheaper / easier to pay out than contest it.

Not 100% true. I've had a claim with egg rejected.

Well I'm glad that some people are having success with PPI claims. I'm getting no where.

is it worth paying 2quid then on xperian or wherever to see what loans/cards you have had in the past?

i did go through my current cards the other month and couldnt find any mention of a ppi on my statements... which was mildly annoying! ; )

I rang HSBC about three months ago and asked if they could send me info about any PPI I'd had with them. I received a letter detailing two bank loans and a credit card from the dim and distant past which had PPI, and also detailed the way to claim.

Last week I had a large enough sum put into my account to buy a very, very nice bike and pay for a family holiday, plus a few odds and ends.

It took me a minimal amount of effort - a phone call and about ten minutes to fill in the forms. Followed by a very impatient wait.

... and as luck would have it i have just laid my hands on a letter regarding my first mortgage with halifax sat in an old filofax in a drawer in my desk.

Do it, claim every penny it's so easy to do.

I've said this before, if you don't have all the details of credit don't worry because it is up to the Bank to do the research.

jam bo - Member
Yep.
The banks have basically rolled over, it's cheaper / easier to pay out than contest it.
Not 100% true. I've had a claim with egg rejected.

Egg were bought out by barclaycard, all the documents are still held in the Egg CRM and Barclays have the overall control. If you get it rejected go to the Ombudsman (just call them or email) and file a complaint. The Ombudsman knows the practice and procedures undertaken by Egg at the time and will 99% come down in favour of the claimants.
You may have to wait a few weeks for the cash but a decision from the Ombudsman is pretty quick (24-36hrs)

Thanks for the links...the blurb on the tool asks for dates, which I don't know...

If you had cards but never paid a penny on them (either paid of in full or 0% and then transferred) you can't have paid any ppi can you? I had a store card paid in full too.

In which case that narrows it down to one old loan and a recent mortgage and joint loan under 10 years old. That makes it a bit easier.

I finally got round to claiming on my loans a the start of this year, just shy of £7k back.

Got a couple of credit card companies to chase up too.

I've had one loan and a handful of credit cards over the years.

So even if one has always actively rejected the offer of PPI when asked, is it possible that banks have ignored that and added it anyway?

I knew I had PPI on a loan in the '90s, and I had it because the banks were offering a lower interest rate if you took out PPI (which makes some sense, perhaps), so that having it actually cost less than not. I'm not convinced it was missold to me.

However, I sent in a claim form to the bank, and they found two other accounts and the letter telling me they were paying out £10k arrived the day after it was in my account. PPI claims have paid for new patio doors, new bathroom, (both needed, but we were waiting for bonuses etc) and cleared a credit card debt.

At least one of the accounts that were found (I only went direct to banks I remember dealing with) was a surprise.

I still can't get my head around some of the figures people are talking about, apart from mortgage related ones. Like how much do you need to have had on a store card to end up getting £5k back in PPI compensation?!

I've had a couple of loans (one I deliberately opted for PPI on) but both less than £4k and various credit cards but even those with say a £5k balance surely PPI (if it had been added) over 5-10 years wouldn't be massive. The other issue is I've probably had 10-15 different credit cards over the years as used to switch the balance between interest free transfer offers so seems a lot of hassle having to claim from all of them.

The only reason I haven't bothered with a claims company (yet) is I don't want to get on a list for being a mug and get nuisance calls for the rest of my life :p

Don't.
Use.
A.
Claims.
Company.

Contact the banks directly or use MSE's Resolver tool.

I had a Barclaycard in the 90s, and an Egg card more recently (owned by Barclays now). Sent off a speculative claim to Barclays, got a rejection letter (didn't notice that they said they were looking at other accounts), and got a cheque for £1700 a few weeks later. If I recall, about £800 was PPI reclaim, and the rest was interest and something statutory (can't remember). The figures were estimated by Barclays apparently, but I was happy enough.

Oh, and it was easy - don't use a claims company.

My Hungarian neighbour is a self-styled IFA and represents the seedy end of the business. He made a fortune selling PPI and now has made an even bigger fortune reclaiming for idiots who are too thick or too lazy to fill the form. He gets 25% of each claim and is raking in thousands a week, enough to buy houses in Budapest, Florida, Spain and two here in Lancashire. Go figure.

i'm quite looking forward to going after halifax, i never did like the company after taking a mortage with them and the way we were treated and then to add injury to insult lost a shed load in shares when they went bust.

Don't
Use
A
Claims
Company

Cougar is bang on.

So, the company that sold you/applied the PPI have to put you back in a financial position as was before the PPI was added, then apply interest on that over the period of the credit agreement. This means if you have a CCard with a balance on it now, that balance will remain until it's paid off.. it will not be written off, it's still a debt owed. However, the original loan plus PPI is then added together and the total becomes the credit balance, if that's a 0%swap deal you will still have balances for short periods of time with PPI on, so it's still worth claiming back.. however complicated you made the balance transfer market dealing.

You do not need to know who the companies are, nor the account numbers. All you need to do is make a claim by either phoning institutions and asking two simple questions 1) I think I've been missold PPI 2) please look into this for me. They will ask simple questions about addresses you've been attached to and such, but that's it. Once it's logged they have to act, 8 weeks for investigation and reply. Some will phone you, most will write a letter with information they have gleaned from thier CRM. If a claim is turned down but you now have the information about a loan with them, and you disagree take that to the Ombudsman, explain you are not happy and they will investigate, they will act on your behalf and deal directly with the institutions.
The Ombudsman may not uphold the claim, they probably will though.

Or use MSE PPI claim forms.. fill in a few details and let MSE do the ground work and let the instructions call you, they have to ask.

Don't forget, if you have debt now it will not be written off that debt is still owed, but if you have a successful claim you could offset the debt by paying it off, or buy a bike or whatever.

It's so simple to claim, takes about 10mins per call or MSE claim, if you've had 10 instances you feel have PPI ( or not) that's still just an hour or so one night completing forms .. then wait, you really could be owed some money back that you didn't know was due.

The main factor with the forms is demonstrating you were actually sold the insurance in a surreptitious or misleading manner. For example, if you were led to believe the loan/card wouldn't be provided if you didn't take out the insurance. Sneaky shit when it was rolled out - it's a shame we're basically just paying ourselves and the banks won't really suffer, not to mention the piss-boiling stories of Globalti's [unpleasant] neighbour.

🙂

Quite right with the edit. Much more eloquent than me...

Is there a way to see which companies you've had credit with in the distant past?

I've successfully reclaimmed PPI from Barlcays but I've no idea who my first mortage was with and I bought a motorbike on finance in 2000, again, no clue who the finance was with.

that's my situation too. I don't know who some of the loans or cards were with let alone of they had ppi attached.

anyway setting aside some time next rainy day.

Perhaps a bit of hypnotism to drag out the info is in order. A potential 10k is surely worth the relatively small fee of a session or two...

😛

@legoman If the motorbike purchase was in the UK, I'd hazard a guess that the finance was through the Black Horse agency. I got finance for a motorbike in 1997 and Black Horse seemed to cover almost all motorbike dealers. I've not tried them as I'd forgotten about the loan until I read your message.

@legoman If the motorbike purchase was in the UK, I'd hazard a guess that the finance was through the Black Horse agency. I got finance for a motorbike in 1997 and Black Horse seemed to cover almost all motorbike dealers. I've not tried them as I'd forgotten about the loan until I read your message.

I've tried contacting Black Horse regarding ppi on a car and motorbike loan from many moons ago. They basically said that they only held records going back 6 years and couldn't give me any details without knowing account numbers etc.
I keep meaning to contact them again but haven't got around to it yet.

I thought I read, maybe on mse, that a credit search on Xperian or whatever for around 2quid would show up all your previous credit history. Anyone know if that's right?

I thought I read, maybe on mse, that a credit search on Xperian or whatever for around 2quid would show up all your previous credit history. Anyone know if that's right?

It's free now through MSE Credit Club.

My credit report doesn't show anything historic though - e.g. there are a couple of old mortgages and graduate loans that don't show on there, let alone the credit cards from years ago. YMMV

Just made two claims against RBS, one for an old mortgage PPI which I was told I had to have in order to obtain the mortgage (it was 2004 and I was young and naive), the other for a packaged bank account at the same time for the same reasons.

RBS allege I didn't change to the packaged account until two years later which I'm pretty sure is wrong, I will have to check.

They agree that I was mis sold the mortgage PPI so have made an offer in a letter I received yesterday of £1005 with interest.

They also (unbeknown to me) looked into an old overdraft I had for years back in my late teens through to my mid twenties.

RBS have made an offer in a separate letter yesterday of £2459 along with an additional £8355 of interest 😯

Quite how they've come to this figure I'm not sure but I'm quite happy to accept their offer.

I'm slowly growing more and more intrigued by this, I had several credit cards as a youngster, often moving the balance over to another card, bought some motorbikes on finance ( albeit mostly on 0%. Though) and bank overdrafts.

I may look into this

Had a bunch of loans with Nat West and a mortgage with the Monmouthshire Building society, got no paperwork or idea of dates, is it really worth putting a claim in?

I have just signed up to the free experian cvredit check, but it is only giving me an overall credit rating score, I can't see any thing on there about previous histories with credit companies.
Am I looking in the wrong place?
Should I go through MSE website instead?

Sent in a claim for a known loan I had with HSBC in the early 00's through the resolver app on MSE website..... lets see what happens here then!

and I've just remembered another loan I had to buy a van about 10 years ago, but can't remember who it was with? and clues as to how I can find that out?

I've had loads of smallish loans over the years, and no idea who with. Any way of finding out?
Edit- and a mortgage!

My credit history goes back to the early 90's and I had lots of loans/credit and even store cards.

One store card is now run by Santander, and I paid £840 in Insurance fees.

With interest etc. it was over £5000!

Just ring the bank and ask if you've ever had PPI. Natwest were honest enough with me to say yes, can't see why other banks won't be.

Just filled out the resolva form with some vague information relating to student overdraft and credit card, let's see how that pans out. Only took 10 mins or so.

Thanks for this, I just used the MSE Resolva pages to apply for PPI back, didn't take any time at all.
Just have to wait a while he see what happens.

I have had a go at this, and bumping into some challenges...

I had a huge clear out of my old records when I moved house 4 years ago, so tying up addresses to accounts is proving challenging - and two of the banks are playing the 'we need ONE address to check', which means I'm on my third address to check with one of them, third case...grrr.

I also have Halifax claiming not a single record of me ever being a customer - yet I have second page of a credit card statement from them, sadly without account information on....

I've just remembered I took out a career development loan for 5K (with Barclay?) in 1998. It was for a masters degree course, and was paid off over a couple of years (so by 2002?).
I doubt I have any paperwork but there might be some old bank statements in the loft.
Is this too long ago to even think about making a claim?

Nope

I got 27k back doing it myself. 😀

Download standard form visit your bank/card /what ever company web site get the correct address to send it too. Answer the phone if they ring then wait for the money.

If I could go back 5 years i would have set a PPI company up myself!!!! Very easy money.

I'm gonna have a sniff round to see if I'm owed anything as well, seems dead easy! I'm also going to try and claim for my dad who passed away last December, apparently any money owed is part of the estate and can be claimed so if anyone is in the same situation it might be worth looking into it.

So I finally got round to digging out some info and submitting 3 claims for old loans, credit cards and a store card. I.have no.idea if they had ppi which should in itself make it clear if I did have it, it was lissold. lots of don't knows on.the form so.who knows

I don't get why the regulator is spending money on a stupid advert telling people to claim rather than.just forcing banks to.be proactive in searching thier databases and employing a.team to track people down. likely cheaper than arnies bill.

Money Savings Expert 'Resolver' partnership looks like the way to go ...