PPI Reclaiming Discussion part 4

di3004

ginger5092 wrote: »

Hey everyone

First time I have sent a post so dont shout if I havent done it right.

Anyway,must tell you of my success.

Took a loan out with Northern Rock in 2004 for £15000 with PPI.
Never thought much about it until a friend directed me to this site,had a read and thought ok go for it.Used the first template letter,sent it away,received a reply within a week saying they were looking into the complaint.Two weeks later I received a letter and wait for it,offering me as a goodwill gesture,£6249 and £1504 interest.Once I had picked myself up,I quickly signed it and returned it registered mail.Yesterday my bank balance or should I say imbalance was better off by almost 8 grand.

Today I have received a letter stating that a further £292.48 will be put into my account !!!!!!

Morale of my story is,go for it folks and never give up.

Martin, cant thank you and all your "posters" enough

Again,apologies if I havent done this right

Hello and welcome

And WOW, Well done and Many Congratulations to you.
:T:beer::j
this is fab.

So happy for you.:beer:

ginger5092

Hi Everyone

Wondering if anyone can guide me in the right direction.

After my recent success with Northern Rock, I sat and thought of the numerous loans/credit cards I have taken over the years.

Most of these loans are now cleared and unfortunately I binned the paperwork but I do distinctly remember one bank who absolutely told me that to get the credit I would have to take PPI.

So I thought lets ask my bank to supply me with records of all finance companies/credit card companies etc etc to whom I have paid direct debit through my bank over the years.

The bank have said this is not possible,perhaps this is because it was them who held the gun to my head over the PPI !!

Does anyone know of any other way I could find this information out or should I take the bank to task and insist they supply me with the info I require ?

Regards

Ginger

di3004

ginger5092 wrote: »

Hi Everyone

Wondering if anyone can guide me in the right direction.

After my recent success with Northern Rock, I sat and thought of the numerous loans/credit cards I have taken over the years.

Most of these loans are now cleared and unfortunately I binned the paperwork but I do distinctly remember one bank who absolutely told me that to get the credit I would have to take PPI.

So I thought lets ask my bank to supply me with records of all finance companies/credit card companies etc etc to whom I have paid direct debit through my bank over the years.

The bank have said this is not possible,perhaps this is because it was them who held the gun to my head over the PPI !!

Does anyone know of any other way I could find this information out or should I take the bank to task and insist they supply me with the info I require ?

Regards

Ginger

Hi Ginger

If you still have the account numbers to each account you were mis sold on the PPI, then you can of course still continue to make a reclaim.

You can try tracking down account numbers from loans from bank statements, if your still with the same bank - where the repayments were made from the account number should be shown next to the monthly repayments.
If you bank online this should allow you to go back at least 6 years, some allow you to go back to even 7 maybe 8 years.

If you just require the agreement to show you had PPI, then you write to them and request for a copy, enclose £1 postal order or cheque payment, and request they send you the copy by 12 days.
(again if you no account number, supply them with as many details as you can remember, the year the finance was taken out, the amount, your DOB, any addresses you were living at when you taken out the finance and so on.;)

However, if you want to although its a little on the dearer side is to request a SAR, if the finance was all taken out with the same bank then you only need to send one SAR (Subject access Request), as they should send all the accounts you have held with them, loans, credit cards and so on, you just write down your bank account number on the SAR and enclose £10 postal order or cheque payment.
There have 40 calendar days to comply.
More here on the SAR with letter template:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Even better if they will be kind enough to track down all your info free of charge for you.

Good luck with this.;)

Di

BigCraigJohn

Hi to the experts or anyone that might just know the answer.
Can anyone explain what is meant by "front loaded" "single preium" etc.
I understand front loaded ppi has now been banned, I figure this would just add weight to my claim.

amersall

BigCraigJohn wrote: »

Hi to the experts or anyone that might just know the answer.
Can anyone explain what is meant by "front loaded" "single preium" etc.
I understand front loaded ppi has now been banned, I figure this would just add weight to my claim.

hi there, front loaded means the insurance is put on at the beginning of the loan and that amount and interest is added to the total loan over the term, the front loaded ins are rip off and yes this does add weight to your claim hope this helps

BigCraigJohn

amersall wrote: »

hi there, front loaded means the insurance is put on at the beginning of the loan and that amount and interest is added to the total loan over the term, the front loaded ins are rip off and yes this does add weight to your claim hope this helps

So if it was listed as for example, would this would make it front loaded as it was all added at the start so interest was paid on the balance of the loan and insurance. Where the more fair way would of been to effectively pay as you go?

Description Ammount borrowed Balance
Amount borrowed 7150 7150
Loan protection insurance 1680 8830


Sorry to waffle, I just like to know exactly what i'm arguing before I put anything on paper


Just spotted it says

14.01 apr
This rate was applied to the whole balance through out the period of this statement.
The cheek of it, giving you a loan with interest to buy there insurance.

Shocking really. :mad:

bugsy161

gers1976 wrote: »

Does anybody know how long the FOS are taking to deal with claims. I sent my complaint in June 09 we then heard back after being assigned an adjuticator saying Welcome had made offer at end of Nov 09 but they had missed 1 of the loan accounts off claim , we were told not to sign offer but wait until they were all together just got letter from FOS saying they have all information but need to wait for adjudicator and they say they do it in date order, but from reading some success stories people have done letters after our June date but have been dealt with its so annoying.

Wendy

My complaint was logged with the FOS in Janauary 2008. It got to an adjudicator in February 2010 and went to the Ombudsman in on 26th March 2010. I know that they have hired more staff but it seems to be very much in the lap of the gods.

di3004

bugsy161 wrote: »

My complaint was logged with the FOS in Janauary 2008. It got to an adjudicator in February 2010 and went to the Ombudsman in on 26th March 2010. I know that they have hired more staff but it seems to be very much in the lap of the gods.

Good luck with yours, hope you hear a good result very soon, fingers crossed.;)

bugsy161

di3004 wrote: »

Good luck with yours, hope you hear a good result very soon, fingers crossed.;)

Thank you.

It seems a life time since I started the process (over 2 and a half years since I first complained to Lloyds TSB).
My fingers and toes are all crossed.
If my complaint is upheld by the Ombudsman then I hope that Lloyds still have records going back until 1987 because they have made me suffer enough without potentially making me suffer any more.

di3004

bugsy161 wrote: »

Thank you.

It seems a life time since I started the process (over 2 and a half years since I first complained to Lloyds TSB).
My fingers and toes are all crossed.
If my complaint is upheld by the Ombudsman then I hope that Lloyds still have records going back until 1987 because they have made me suffer enough without potentially making me suffer any more.

Your welcome.;)

Blimey that is one heck of a long time, I hope they will also be paying you the extra on top for the inconvenience and distress this have caused.
All crossed here for you too.:)