PPI Reclaiming Discussion part 4

pinknico

Blacko, the claims managment company is talking rubbish. Write to RBS about your complaint by using the new questionnaire and send recorded and give them 8 weeks to reply. If no joy take to the FOS, YOU DO NOT NEED TO USE A CLAIMS COMPANY!!!!

amersall

pinknico wrote: »

Blacko, the claims managment company is talking rubbish. Write to RBS about your complaint by using the new questionnaire and send recorded and give them 8 weeks to reply. If no joy take to the FOS, YOU DO NOT NEED TO USE A CLAIMS COMPANY!!!!

ditto pinknico, the flaming gaul of these companys are beyond me. wonder how many people fall for this?

amersall

BLACKO wrote: »

Dear Forum,
I took out a loan from the R.B.S. (Royal bank of scotland) in March 2007, There is Payment protection insurance attached to this loan. The P.P.I. amount is £65.04 per month.

I have made 38 monthly payments towards the loan and to this date april 2010 have payed £11,629.90 of this £2,471.52 was for P.P.I. There is still 22 months remaining on the loan before it ends.

Which means 22 monthly P.P.I payments of £65.04 = £1320.88, The total cost of the P.P.I. is £4,062.40 plus the intrest. Yes the P.P.I. is still attached to this loan.

When i took out the loan i was asked if i wanted insurance, i sayed yes but no questions were asked as it took awhile for the loan to be passed as there was a deduction from my bank account from sherriff officers and the bank had requests from the court to arrest my bank account (5 occassions), the loan was passed and i was let out of the bank as it had closed.

When i took out the loan i worked full time for the Local authority (Public sector worker) and still do, I tried to cancel the P.P.I. but could not as i had passed the deadline.

Spoke to the bank in winter of 2007 and was told that there was a fee to cancel it but she informed me that doing so would put the loan at risk as it was unsecured, got scared and never canceled it.

Because of ads in the paper and on the radio checked my loan out, spoke to a company in the city and gave the guy my name ect, when he asked who my employer was he clapped his hands and loudly said "STOP THERE YOU HAVE BEEN MISSOLD THE POLICY" Because i get sick pay and health benifits from my employer i can't claim against the ppi policy and i am on a full time contract with them your have job security and the bank knew you worked for the council.
The company said if i try and claim myself the bank will reject my claim, but with the companys help they can secure a win but the want a 25% fee for services.

Please help me what do i do and what can i do.

Please e-mail me at [EMAIL="black_iain@yahoo.co.uk"]black_iain@yahoo.co.uk[/EMAIL]

Thanks in advance

hi there, DO IT YOURSELF you can claim and if it is rejected come back on here and we will help you, and it wont cost 25% of your win (you can bung me a few quid if you like) write to bank giving your reasons for mis sell, send it recorded and wait for a reply. please post up and let us know how you get on. good luck. claims companys indeed!!!!! if you win you only get ppi paid to date with interest, plus 8% but the good news is your loan is put back to what it should have been without ppi at the same term and apr,and your monthly payment will go down

di3004

Nemo58 wrote: »

Hi,
have just started a new thread on old claims for PPI (pre-2000).

HISTORY = FOS said Barclays had agreed to refund. However bank then sent following email this week to FOS :-
"Thank-you for forwarding the attached loan agreement. However, we would still need further details from Mr ***** before we can investigate this claim. As our computer records only go back as far as 1997, we have no ledgers or statements confirming that this loan was actually drawn down, or confirmation that the payments were made and maintained throughout the loan term. We would also require a loan account number from Mr *****. If Mr ***** can provide us with these details, we will be happy investigate this further"

This came as a shock and a slap in the face.
I had sent the original agreement document (Loan running from 1992 to 1997). Loan went into my Barclays Current Account (which I still have).
Sent copy of Standing Order Mandate which proves money went into account/what date and payment amount per month.
Sent copy of statement I found from April 1997 showing amount going out on date agreed which I feel proves the loan ran its course (which it did).
Barclay's now say cannot calcularte refund as they need proof no default on any payments over the 5 years plus proof no early repayment and subsequent refund of PPI. Oh yes they also then say records only go back to 1998 which contradicts first date they give of 1997. They are expecting a 'Loan Settlement' account document apparently. I don't believe there ever was one - and the statement I have has no 'Loan Account' reference number against the payment going out for B/Loan. This is also the case for the following 7 year loan in 1999.
FOS say I can escalate things - but this seems an impasse. Do I send a SAR or should they pay up? The Loan payment came straight from Current Account with Barclays and they would have taken their money monthly before anyone else (as we all know!).
HELP! Advice?

Hi there

So sorry to hear of the messing around.

Maybe in this case a SAR may help, especially as they are requesting for details/information, yet surely they can check the data out themselves.

If they do not have all the details, just as long as your happy, then request they refund with the interest to the calculations they do hold, therefore if they state they only have so much information, should have the details of when this ended.

So its up to you if you want to request for a SAR, if you do this then they have 40 days to comply and you enclose £10 cheque or postal order, I would also post by recorded delivery for your proof of posting.
SAR template letter here with details:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Please keep us posted on this, but keep at them is best, they may just be trying to fob you off.
Good luck.

maxdp

Nemo58 wrote: »

Hi,
have just started a new thread on old claims for PPI (pre-2000).

HISTORY = FOS said Barclays had agreed to refund. However bank then sent following email this week to FOS :-
"Thank-you for forwarding the attached loan agreement. However, we would still need further details from Mr ***** before we can investigate this claim. As our computer records only go back as far as 1997, we have no ledgers or statements confirming that this loan was actually drawn down, or confirmation that the payments were made and maintained throughout the loan term. We would also require a loan account number from Mr *****. If Mr ***** can provide us with these details, we will be happy investigate this further"

This came as a shock and a slap in the face.
I had sent the original agreement document (Loan running from 1992 to 1997). Loan went into my Barclays Current Account (which I still have).
Sent copy of Standing Order Mandate which proves money went into account/what date and payment amount per month.
Sent copy of statement I found from April 1997 showing amount going out on date agreed which I feel proves the loan ran its course (which it did).
Barclay's now say cannot calcularte refund as they need proof no default on any payments over the 5 years plus proof no early repayment and subsequent refund of PPI. Oh yes they also then say records only go back to 1998 which contradicts first date they give of 1997. They are expecting a 'Loan Settlement' account document apparently. I don't believe there ever was one - and the statement I have has no 'Loan Account' reference number against the payment going out for B/Loan. This is also the case for the following 7 year loan in 1999.
FOS say I can escalate things - but this seems an impasse. Do I send a SAR or should they pay up? The Loan payment came straight from Current Account with Barclays and they would have taken their money monthly before anyone else (as we all know!).
HELP! Advice?

Hi Nemo sorry you having these problems. I have claimedback PPI on three refinanced loans with Barclays in 2000, 2004, then 2004 again:o. They did manage to find the paperwork for this. Saying that I have heard this quite a lot on here lately. Also I reclaimed Barclaycard PPI going right back to 1991. Although they did not have copies of any paperwork or accounts they based it on the usage from 1999 to 2008 when the PPI was cancelled. So I know they can do it just bit awkward I think.

Let FOS escalate the complaint for you.

di3004

Good idea to let the FOS escalate this for you, sorry missed this bit earlier, but I agree with this method, go for it, good luck.;)

mah500

I'm about to reclaim the PPI on a Capital One card for my partner. We have had a response to our SAR with details of the tansactions on the account and a copy of the agreement she signed. This clearly shows she did not want the PPI with a very clear tick in the No box. The PPI total paid is £424.29.
My question is can we claim back interest on the PPI paid? And if so how do we calculate it? The information we received from Capital One does not detail any interest rates that were applicable for the period of the card from Sept04 to the present.
I would be grateful for any help.
Mark

di3004

mah500 wrote: »

I'm about to reclaim the PPI on a Capital One card for my partner. We have had a response to our SAR with details of the tansactions on the account and a copy of the agreement she signed. This clearly shows she did not want the PPI with a very clear tick in the No box. The PPI total paid is £424.29.
My question is can we claim back interest on the PPI paid? And if so how do we calculate it? The information we received from Capital One does not detail any interest rates that were applicable for the period of the card from Sept04 to the present.
I would be grateful for any help.
Mark

Hi Mark

Seems like a good case here, in this case then if your partner ticked NO, then they should not have been taking the payments for the PPI, so good for you on having this copy to prove this.

They should uphold in your partners favour and refund all the PPI paid, contractual interest, simple interest and also 8% interest of what a court would award as she have been deprived of her money.
Here is the link what Maxdp posted on how the FOS calculated PPI refunds, where-as if your partners complaint is upheld this is how they should refund too.
http://forums.moneysavingexpert.com/showthread.html?t=1596473

For guidelines of reclaiming with templates on the link below, they have 8 weeks in full to respond, keep on at them is best if they try fobbing off, but in my opinion this is a good case and "should" be straight forward.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Post by recorded for your proof of posting, post up for help anytime and please keep us posted.
Good luck.;)

Di

mah500

Hi Di

Thanks for the quick response.
I've had a look at the link and see we should expect interest on our claim. I'm unsure if we are expected to calculate this or do we get Capital One to do it?
Is there a template letter available to request this?

Thanks
Mark

di3004

mah500 wrote: »

Hi Di

Thanks for the quick response.
I've had a look at the link and see we should expect interest on our claim. I'm unsure if we are expected to calculate this or do we get Capital One to do it?
Is there a template letter available to request this?

Thanks
Mark

Hi Mark, your welcome.

They normally calculate this and they should send the breakdown if successful, if they do not then you have the right to request they send this to you.;)