The PPI Register – an invaluable source of information – a database of PPI policies arranged in the UK.
It is possible you have had PPI attached to your finances and you are unaware. Therefore, accessing the PPI Database to find your PPI could be very helpful.
At the moment you need to check old paperwork to find out who your finances were with. This can be time consuming. Also, you may have destroyed older records for security reasons.
If you do find old paperwork you then have to write to the lender and ask them if PPI was attached to your finances. This involves you writing to all your lenders and providing them with your personal details. This can be very time-consuming. It does not guarantee you will find your PPI, because you may have forgotten a lender, or you may omit a past address or a previous name.
Rather than the current situation, searching your old records and writing lots of letters, you may prefer to check the PPI Register.
The PPI Register does not exist presently – this is how we think it should operate to assist borrowers.
The PPI Register – Searching the PPI Database
To access the PPI Register you would input your personal details online. The details to include are: –
- your current name
- any previous names, such as a maiden name or a previous married name
- your date of birth
- your current address and post code
- your previous addresses and post codes
All Insurance Companies that have had PPI policies in force, at any time, should pool their data within a single database. A trawl of all PPI policies, that have ever been in force, could then be made. The trawl of records would match your personal details against the PPI Database. You would then be made aware of any PPI that has been attached to your finances.
The PPI Register would advise you of the following details: –
- the lender of the finance
- the type of finance, such as a loan, credit card, overdraft, mortgage, catalogue, store card
- the PPI start date
- the PPI end date
We believe the PPI Register would be an ideal means for borrowers to find their PPI. The system would be preferable for these reasons; –
- you only input your personal details once
- you do not need to know the name of your lenders or what type of credit it relates to
- you do not need to find account numbers
- you do not have to search through old paperwork
- you would not need to have retained all your old paper records
To locate past finances, you can request a Credit Report from a Credit Agency. There are numerous Credit Agencies in the UK, such as Experian, Equifax, Callcredit, Crediva and others. They can locate some current and some past finances. You may need to visit a few Credit Agencies to locate your finances, because no Credit Agency provides details from all lenders.
For security purposes a Credit Agency must ensure they check your identity before providing you with a Credit Report. The PPI Register should also check a person’s identity prior to trawling the PPI Database.
The PPI Register does not exist, and borrowers have no access to a PPI Database. For these reasons many people will not find their PPI and will not know if they can make a complaint. Your options are limited and are as follows: –
- take no action at all and fail to locate PPI
- find old paperwork and write to lenders providing them with all your personal details
- if your lender finds PPI issue a Data Subject Access Request to the lender
- when you receive the Data Subject Access report check why you think your PPI was mis-sold
- send a complaint letter to the lender and itemise all your complaint points
- if the complaint is defended write another letter to the Financial Ombudsman Service
- the Financial Ombudsman Service will issue a questionnaire for you to complete
- complete the Financial Ombudsman Service questionnaire and return it to the Ombudsman
- an Adjudicator may agree with the lender that your PPI policy was not mis-sold
- if an Adjudicator agrees with the lender send another letter to request a second opinion
- seek assistance from a Claims Management Company, such as ourselves