Register

Welcome to the CONSUMERS' FORUM (formerly The Penalty Charges Forum).

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed.

  • Reclaim your payment protection insurance (PPI)

    Payment protection insurance (PPI) policy is provided along with many varieties of loans such as mortgages and credit card loans it iss usually sold and/or included in the agreement made while signing up.

    The part referred to as PPI in most agreement is known as ASU (Accident, Sickness and Unemployment coverage) or the loan protection. (we would advice that check all your loan, credit card agreements/policies to see if you have or have had this cover. You can go back six year, even if the policy has ended.)

    There are certain guidelines that the banks, brokers and financial institutions were required to follow, by law, when they sold these policies to you. However, there are literally thousands, if not millions, of cases where these policies were Mis-sold by way of misrepresentation.

    In the case of loans, the premium might be shown on the loan agreement/statement as a lump sum. However, it is up to you to make sure that you check whether the charges for the insurance are actually being added to your account every month.

    Thousands of consumers have already claimed back their money for mis-sold PPI policies, so if you have or did have any PPI policy, you too can start the process of claiming back the money that was taken from you unlawfully, today.
    Cases stayed
    For those of you who can remember reading a variety of news articles like the one below in despair, as the BBA was yet again, hoping that is members would avoid paying back the Millions of pounds that its members had been taking from consumers unlawfully.

    ‘Hundreds of thousands of claims for compensation for mis-sold loan insurance will be put on hold for months until a legal wrangle is over. Banks will delay old claims relating to the sale of payment protection insurance (PPI), the British Bankers' Association has announced.These cases will only be completed at the conclusion of a judicial review into the issue, it said’.
    (source 13 October 2010 http://www.bbc.co.uk/news/business-11532197)

    The current situation

    Well the good news is the Bank’s lost, on the on the 9th of May 2011, the banks unexpectedly surrendered, with the British Bankers' Association announcing that it would no longer be continuing the fight in court. The BBA went on to confirm that the banks in question were putting aside Billions of pounds in preparation for the expected flood of PPI claims which consumers, thats you, are NOW entitled to make.

    Remember the banks have lost so there really is no need to use any company or any one offering to do this for you on a no win no fee basis. Use our templates and you should get your money back, but most of all, if you use our site, we will be with you every step of the way and most importantly our help is FREE

    For further advice pleases login to the forum.
    Comments 8 Comments
    1. stephen1976's Avatar
      stephen1976 -
      Please keep us upto dateon your cliams on the forum
    1. ppryde@hotmail.co.uk's Avatar
      ppryde@hotmail.co.uk -
      sorry first time so not sure where to seek advice ive had an offer of settlement, but not sure whether to accept
    1. gorang's Avatar
      gorang -
      Hi ppryde

      Your thread for this is here

      http://www.penaltychargesforum.co.uk...079#post495079

      But looking at the times of your postings I think you have found it

      Someone will be along shortly on your thread to advise you
    1. Rolly's Avatar
      Rolly -
      Thank you so much for the useful advice on PPI, I will start my processing and keep you updated.
    1. Emma1977's Avatar
      Emma1977 -
      Hi there,

      Apolgies if I have posted this in the wrong place...I am new to this. I was just after some info on PPI. You state that claims can go back 6 years. I have written confirmation from NATWEST of 2 previous loan agreements....this bascially gives me the loan agreement number, start and end date of loan and PPI cost. The PPI is roughly £600 on each loan. However, I thought both loans ended roughly 2006/2007 but unfortunately it was 2005 so obviously not within the 6 years. My question is, with them still having this information, would that mean they also have the actual loan agreements and if so would it be worth submitting a claim or is it STRICTLY 6 years. Thank you in advance for any help you can offer me. Emma
    1. Emma1977's Avatar
      Emma1977 -
      Hi again,

      Please could someone advise whether it is possible for me to claim on the aforementioned loans? As stated, I have been provided with all the required information form Natwest but both loans fall outside the 6 year period.
      Any help would be greatly appreciated.

      Thanks in advance

      Emma
    1. BankWhacker's Avatar
      BankWhacker -
      Yes you can complain. Although technically Natwest could dismiss the complaint if the policies were sold more than 6 years ago you can then take it to the Financial Ombudsman Service who operate a blanket policy of waiving the 6 year rules for PPI complaints. So complain to Natwest and if they dismiss it, take it to the FOS.
    1. arifhayat's Avatar
      arifhayat -
      You can claim it even though its been more then 6 years if you can show any papers that you did take that loan.
Back to Top