Northern rock

SpiderMam
SpiderMam Posts: 15 Forumite
in Reclaim PPI & other insurance
Hi all, I claimed from NR back in 2010 for ppi and was awarded a payment. However, I re-applied as I was told that the calculations had been carried out wrongly and that the banks etc. had to recalculate. Does anybody know what to do as NR have replied to me saying that they've already paid out so are not prepared to look at it again? Thanks

Comments

  • vacheron
    vacheron Posts: 1,603 Forumite
    Name Dropper First Anniversary First Post Photogenic
    Who told you the calculations had been carried out wrongly?
    • The rich buy assets.
    • The poor only have expenses.
    • The middle class buy liabilities they think are assets.
    Robert T. Kiyosaki
  • SpiderMam
    SpiderMam Posts: 15 Forumite
    It's been in the news. Need to check it out
  • dunstonh
    dunstonh Posts: 116,313 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    SpiderMam wrote: »
    It's been in the news. Need to check it out

    Where has it been in the news that all NR redress complaints are being recalculated and paying out more? - have you got a link?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • SpiderMam
    SpiderMam Posts: 15 Forumite
    Not just NR, Barclays and I presume others. I will look for a link
  • dunstonh
    dunstonh Posts: 116,313 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    SpiderMam wrote: »
    Not just NR, Barclays and I presume others. I will look for a link

    I believe you have misread it or it didnt quite explain it right.

    Some of the banks were told to go back over old complaints that used an incorrect method of calculating redress. It wasn't a very common method and the banks that used it did not use it for everyone.

    Where is was used, the bank was told to look at it again and provide a correct calculation and correction amount automatically to those involved. It would not require any action from the consumer.

    So, NR telling you there is nothing more is correct. If it was wrong, they would have contacted you automatically.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • SpiderMam
    SpiderMam Posts: 15 Forumite
    Thanks dunstonh, this now makes sense :)
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