Should I make a PPI claim?

[karen]

With time running out for making PPI claims I don’t want to miss out if I can make a claim. But I don’t have a lot of paperwork about old loans, credit cards etc. Is it worth using a claims company? I know they will take commission but it does seem an easy option letting them do the work.

[blurty]

I spent about a hour in total (if that) and got a nice sum back. I didn’t have any paperwork as my loans were years old. I asked my bank for a printout of all the products I’d taken out with them and took it from there. I filled out the form and spoke to the helpline for about 30/40 mins and that was it. Don’t give someone else your money!

[amy]

Your bank will have a ppi helpline, and you don’t need to know the account numbers.
You do need to know why it was missold to you, though.
If you go direct to the provider, there is no fee taken and you get 100% of the money.
If you use a claims company, they take a percentage.

[kerry]

I know I have used some of the companies that are implicated, for example I had catalogues back in the 80s, but I don’t think these companies exist any more. I had an egg card, no idea if I had PPI. We may have had it on our first mortgage as no one wanted to lend to us when we started out and it was probably a condition. I have changed banks a couple of times over the years. Clueless how to proceed really without an intermediary. My in-laws though have clawed back thousands, goodness knows how many loans they must have had, but my father in law is a great horder of paperwork, so he had everything going back decades, that’s not really normal.

[don]

Check the MoneySavingExpert PPI forum…it’s easy as anything (they have templates for letters & even a free service to help.

Definitely worth doing, your first step is a SAR which is a request for info from the financial institutions you think you had loan/card with.
If you know you definitely had borrowing with say Santander, they have a phone line or online form to reclaim & they will track down your reference numbers.

Good luck!

[mooncat]

Most banks have an online form to fill out to see if you had PPI.. I just googled for example “MBNA PPI” They then send you a more detailed form and it doesn’t matter at all if you don’t have your details. I’ve found we had around 7 policies and I’ve filled out all the forms. One was apparently a Littlewoods store card that I can’t even remember having. We’ve currently had one offer of over £200 but my sister received one for over £500!

Agree with poster above, have a look on money saving expert. My reason for mis-selling was that the policy wasnt needed as we already had adequate insurance and I wasn’t aware we had even taken it out. Some of mine go back to the nineneties!

Definitely worth doing and simple enough.

[sar]

Definitely worth doing. I had zero paperwork and very vague recollections and got £4k from my bank.

A lot of banks will let you complain online or over the phone etc. don’t worry if you don’t have the account numbers.

Do not use one of the claims companies, all they do is submit a form, that you’ve filled in, which is pretty much exactly the same as the online one that you can fill in for free and then they take a % of your money if you get paid, the banks will not discuss your complaint with anyone but you if they need more information etc. apart from when they send you your final decision. The claims companies are akin to daylight robbery!!

[kerry]

Yes don’t use claim company’s. I suspect in a couple years time you’ll be able to claim back from the claim companys for scamming.

[karen]

I will go and look on moneysaving – thank you for that. Do you need a specific reason for each policy as to why it was missold? Was it ever actually NOT missold?

Another question – and I am sorry for being so dim, I cannot remember who my mortgage was with, but think it was Abbey National. Is that now Santander’s probelm, or is it just bad luck me?

[mooncat]

@karen Yes all the old ones have been taken over by the new ones, with all their complaints.

I simply put that I didn’t know I had it. That seemed to do.