PPI Reclaiming discussion Part III

di3004

marshallka wrote: »

Hope Laini is back on today with some extra good news:D .

I was just thinking the same too.:D
Fingers crossed - hope its good news, we could do with it.:D

canadadry

Can anyone tell me if I would be able to claim for a mis sold PPI back in 1988
on a joint mortgage that me and my husband took out but he was the only named person on the policy because we were told at the time he was the main person bringing the money in (bread winner) the mortgage was with the Abbey and we have never had any paperwork regarding this policy nor have we cliamed on it we have paid over £5,ooo for this and never got a penny out of them.

marshallka

di3004 wrote: »

I was just thinking the same too.:D
Fingers crossed - hope its good news, we could do with it.:D

Did you get in touch with the adjudicator about the LLoyds one Di??

marshallka

canadadry wrote: »

Can anyone tell me if I would be able to claim for a mis sold PPI back in 1988
on a joint mortgage that me and my husband took out but he was the only named person on the policy because we were told at the time he was the main person bringing the money in (bread winner) the mortgage was with the Abbey and we have never had any paperwork regarding this policy nor have we cliamed on it we have paid over £5,ooo for this and never got a penny out of them.

I am not being pesermistic here but I think 1988 may be a little far back...:eek:

I don't think anyone would have paperwork on this and also if it went to court then it most probably would be thrown out under the limitations act!!

dreamer33

Good morning all

Well my bad news today is my tumble dryer died yesterday :mad: my house now looks like a launderette lol

However this has not stopped me looking at ppi news lol see below:

http://ppimoneyback.co.uk/Latest_Information/News/

http://www.financemarkets.co.uk/2008/10/07/record-fine-for-al-for-mis-selling-ppi/

There is also a forum on the finance markets website

di3004

marshallka wrote: »

Did you get in touch with the adjudicator about the LLoyds one Di??

No hun I thought I would wait until next week the deadline, hoping it will be good.;)

It will not be a great deal of money but it all adds up, although I have not got a clue on the actual figures myself.
Will double check my final statement, think it worked out under £5K to settle the card and the monthly ppi without interest varied between £25 - £70, will have to double check though.;)

di3004

Bid to regulate customer treatment:


http://money.aol.co.uk/bid-to-regulate-customer-treatment/article/2008110412122014549098

And here

http://www.fsa.gov.uk/pages/Library/Communication/PR/2008/126.shtml

ziggy80

Hi
I was wondering if anyone could offer some advice.

I was contacted by Natwest in April 2007 for a free financial review. They suggested a loan to consolidate my debts.

I was given a piece of paper to sign and sent away with a loan of huge and some paper work (this was all in a lunch break).

I have seen the stories of PPI and have dug out my paperwork. It turns out I have PPI on my loan - this was not mentioned to me as an option - although I do have the paperwork. I know it is my fault for not checking through this and cancelling it after taking out the loan. The PPI on my loan is thousands and I want to do something about it.

Can anyone tell me if it is straight forward to cancel PPI (especially with Natwest). Does anyone have advice on how to do this? Should I write them a letter or call? Will I get a refund?

Any advice would be gratefully received. There is so much info on the web I am just a bit overwhelmed and don't know where to start.

Thanks

di3004

ziggy80 wrote: »

Hi
I was wondering if anyone could offer some advice.

I was contacted by Natwest in April 2007 for a free financial review. They suggested a loan to consolidate my debts.

I was given a piece of paper to sign and sent away with a loan of huge and some paper work (this was all in a lunch break).

I have seen the stories of PPI and have dug out my paperwork. It turns out I have PPI on my loan - this was not mentioned to me as an option - although I do have the paperwork. I know it is my fault for not checking through this and cancelling it after taking out the loan. The PPI on my loan is thousands and I want to do something about it.

Can anyone tell me if it is straight forward to cancel PPI (especially with Natwest). Does anyone have advice on how to do this? Should I write them a letter or call? Will I get a refund?

Any advice would be gratefully received. There is so much info on the web I am just a bit overwhelmed and don't know where to start.

Thanks

Hi there Ziggy and welcome.

As it was a sale in 2007 they should have mentioned the ppi anyway, just to make sure you were eligible, or you may have already have had cover elsewhere to protect your finances.

There are loads of reasons.

Now cancelling should not be a problem, but they may be one of those banks who reschedules the loan to a new loan, however if you feel you were mis sold the ppi you can send in a separate letter to the cancellation letter to complain and reclaim on your ppi, it does not make any difference.

Check this out here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

The above added link will explain some ppi information, and there is also a template you can use to try and reclaim on this.
Add your own reasons in the letter, they have 8 weeks to respond.

If you get back to us to let us know the outcome of the reclaim, we can help with the following step, hopefully you will be successful first time round, if not another letter can be sent to ask them to reconsider, you will then received the final decision, if still not successful it can then be taken to the financial ombudsman service (FOS), but we will work on that one if we have to.;)

Post by recorded post to keep an eye on those 8 weeks deadline.

To cancel just write to them and tell them you would like to cancel the ppi with immediate affect, (if you have a reason for doing this you can add more info if you want to).

If you require more help here, please just yell, you are very welcome.

Good luck
Di

ziggy80

:rolleyes: Thanks that's great. It's just a case of knowing where to start! I cant help but feel I was missold as I have no recollection of the PPI being explained to me. I usually say no to these kind of insurances as I have good benefits from my employer.
As I have the PPI information I wasn't sure if I could try and reclaim as I thought they would say you have the paper work - it's your responsibility.

I will write a couple of letters and let you know how I get on.