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I bought my guest house in my early twenties, and thirty odd years later am on property number 4. No idea whether I have ever been ( mis) sold this PPI, but is it worth while phoning one of these companies who advertise.... Just curious as to how they would find out really.
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I'm amazed none have called you yet. It helps if you know who the loans were from - with that info, and a little patience you can make the claim yourself thereby avoiding a sizeable commission payment.
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Speak direct to the institution where the loan came from. The form is simple fill out for anyone with a bit of nous...PPI firms will do the work but it will cost you anything up to 20% of the "take"
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The problem you might have is knowing enough information to make a claim if it's from sometime ago. The lender's systems will have been archived off and they'll need account information to retrieve details. And since it's so long ago, will you have that information to hand?
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Quite so rtj
I think my first mortgage was with the Provincial BS, who merged with the Burnley BS in 1982 to become the National & Provincial BS, ultimately taken over by the Abbey. Finding my account number could be problematic, although at least I remember all my previous addresses.
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Suggest you go to www.moneysavingexpert.com/reclaim/bank-charges
There is a section specifically on what to do if you don't have old statements etc.
Templates for letters are also given.
My wife managed to get some cash out of her former bank without the need for a go-between who will charge you a percentage.
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Thanks everyone
Your advice is, as always, much appreciated
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I once had a loan with a Lloyds Bank company and that had PPI. PPI was with another company that was not part of the Lloyds banking group.
Chased through Lloyds and the other company but neither could find details as they were not on the computer by then. I didn't have account details because the loan documents were no longer with me - settled more than a decade earlier.
Went down the route of the ombudsman (or whatever its called).... end result. Nothing I could do.
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A friend of mine has just got £4,000 from one of the big banks. She had had four loans for cars over the years. They sent her a form to complete with all the details, which her daughter (who had already got a refund) told her to ignore - sure enough, in due course they said they had found the records and sent her the money.
There's no difficulty with proving mis-selling. It's assumed to be mis-sold unless they can produce evidence that it wasn't. As there was no legislation even requiring them to for most of it, they never have any.
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PPI was always a racket and knowing that, I never had it.
Lots of pressure, and I mean LOTS, to sell it and similar extras, when I worked for North West Securities in the early 1980s. (Bank of Scotland's finance and leasing arm).
They loved selling revolving credit too: in fact one's performance was almost judged more by "add-ons", than the ordinary credit deals achieved.
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PPI anyone - Alastairw
