bazzad Posted November 6, 2012 Share Posted November 6, 2012 hi, just got a letter from my bank saying they are not going to pay me my PPI as i knew i had it. is that true?/ Link to comment Share on other sites More sharing options...
Andy Posted November 6, 2012 Share Posted November 6, 2012 It depends. What are your grounds for claiming a refund? Do you think the PPI was mis-sold and if so, why? Simply having PPI is not grounds for complaint. Link to comment Share on other sites More sharing options...
WeX Posted November 6, 2012 Share Posted November 6, 2012 Tell the bank you where told you had to have it when you took out the loan/credit card. Link to comment Share on other sites More sharing options...
bazzad Posted November 6, 2012 Author Share Posted November 6, 2012 hi, ye it was miss sold, i didnt know about it at all, Link to comment Share on other sites More sharing options...
dvp82 Posted November 6, 2012 Share Posted November 6, 2012 What Andy said, on what grounds did you make your claim. Was it mis-sold, many people will have had PPI and have zero grounds to make a claim for a refund. Link to comment Share on other sites More sharing options...
dvp82 Posted November 6, 2012 Share Posted November 6, 2012 hi, ye it was miss sold, i didnt know about it at all, Can you give us more details to why you think PPI was mis-sold to you ? Link to comment Share on other sites More sharing options...
bazzad Posted November 6, 2012 Author Share Posted November 6, 2012 Can you give us more details to why you think PPI was mis-sold to you ? i think i was miss sold as i realy did not know i was sold it, this is on my car that iv had over 5years and the loan/ finance was for around £10,000 im useles with things like this Link to comment Share on other sites More sharing options...
Andy Posted November 6, 2012 Share Posted November 6, 2012 i think i was miss sold as i realy did not know i was sold it, this is on my car that iv had over 5years and the loan/ finance was for around £10,000 im useles with things like this You said in your original post that the bank said you knew you had it. What grounds do they have to make this statement? In some cases it will be obvious to the customer, e.g. a credit card where the payment appears on your statement every month. Another question - was the amount of the PPI added to the amount of the loan, meaning you were charged interest on the PPI (known as single premium)? If so this may be grounds for complaint. As others have said, simply having PPI is not grounds for a complaint - there has to be something about the way it was sold that was wrong for your complaint to be upheld. Link to comment Share on other sites More sharing options...
tinfoilhat Posted November 6, 2012 Share Posted November 6, 2012 You said in your original post that the bank said you knew you had it. What grounds do they have to make this statement? In some cases it will be obvious to the customer, e.g. a credit card where the payment appears on your statement every month. Another question - was the amount of the PPI added to the amount of the loan, meaning you were charged interest on the PPI (known as single premium)? If so this may be grounds for complaint. As others have said, simply having PPI is not grounds for a complaint - there has to be something about the way it was sold that was wrong for your complaint to be upheld. I thought because it was deliberately missold in so many cases the burden of proof was on the banks ? I have but certainly don't recall asking for it. I'm waiting a decision. Link to comment Share on other sites More sharing options...
Andy Posted November 6, 2012 Share Posted November 6, 2012 I thought because it was deliberately missold in so many cases the burden of proof was on the banks ? Yes, more or less. The fact that the bank have rejected this claim suggests they have found evidence in their files that the PPI was sold properly. Bazzad needs to work out why they think his PPI was sold correctly, so that he can challenge whatever reason they've given, if appropriate. Another question bazzad - did the bank send you a "Final Response" letter? You will know if this is the case as it would have included a leaflet about the Financial Ombudsman Service. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.