PPI Reclaiming Discussion part 4

di3004

Susan-B wrote: »

Thanks for your advice - I'll send off those letters. I really appreciate your advice on this - and I'll keep going on this.:o

Your very welcome Susan and fingers crossed, please keep us posted, cheers.:)

EllBee

Hi all,

My daughter has a loan with NatWest and only realised last week that she has PPI with it! She doesn't remember agreeing to it although the letter she has from the bank does state "For the Personal Loan Protector insurance that you have chosen..............................." and goes on to say that details of the insurance cancellation rights can be found in the Personal Loan Protector Insurance Certificate which they provided previously which, of course, she hasn't got! My daughter had a previous loan then increased it last year to clear her overdraft and other things but is sure she didn't agree to PPI. I've made 2 successful claims against RBS (NatWest) but my loans were paid off and for the life of me I can't remember what my first letter to NatWest said. I'm sure I used the template on MSE but can't seem to find it and neither can I find my paperwork relating to my claims. Am I right in thinking that my daughter should cancel her PPI then claim against NatWest afterwards or just go straight ahead with requesting repayment of the PPI? I'm sure I've also seen on here that NatWest will say she will have to take out another loan if she cancels the PPI.

I had hoped never to have to deal with this again but hey ho!! It stressed me out so much I've almost wiped it from my memory!!! Although I have to say RBS were pretty good about paying out (after I'd refused their initial 'goodwill' offer!)

Thanks in advance (and 'hello' to Di and amersall. I see you're still in the thick of it, helping people out. Still amazing people!!!)

di3004

EllBee wrote: »

Hi all,

My daughter has a loan with NatWest and only realised last week that she has PPI with it! She doesn't remember agreeing to it although the letter she has from the bank does state "For the Personal Loan Protector insurance that you have chosen..............................." and goes on to say that details of the insurance cancellation rights can be found in the Personal Loan Protector Insurance Certificate which they provided previously which, of course, she hasn't got! My daughter had a previous loan then increased it last year to clear her overdraft and other things but is sure she didn't agree to PPI. I've made 2 successful claims against RBS (NatWest) but my loans were paid off and for the life of me I can't remember what my first letter to NatWest said. I'm sure I used the template on MSE but can't seem to find it and neither can I find my paperwork relating to my claims. Am I right in thinking that my daughter should cancel her PPI then claim against NatWest afterwards or just go straight ahead with requesting repayment of the PPI? I'm sure I've also seen on here that NatWest will say she will have to take out another loan if she cancels the PPI.

I had hoped never to have to deal with this again but hey ho!! It stressed me out so much I've almost wiped it from my memory!!! Although I have to say RBS were pretty good about paying out (after I'd refused their initial 'goodwill' offer!)

Thanks in advance (and 'hello' to Di and amersall. I see you're still in the thick of it, helping people out. Still amazing people!!!)

Hi there Ellbee

Its lovely to hear from you, hope your well.

Go for it, looks like a good case here, so give it a go.

Right the template letters are now changed to FOS questionnaires, complete and send to whom is responsible, and keep copies in case you need to refer to it later on.

You will find the FOS Questionnaires on the usual loan ppi reclaiming link, further down the page as Stage one:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

I believe there have also been more success this way, instead of using template letters, so hopefully it will be the same for you/daughter as well.

Wishing you luck, and you done really well, well done! :beer:

Hope you and all your lovely family are well, and yep still here LOL.

Di
XXX

Derek_Acorah

Hi all, have been in process of claiming back PPI from FirstPlus.

Had a response from them, and I want to check out whether this is a good result.

They are refunding the premium of about 9.5k, plus interest paid on the premium to date. This will reduce the balance of the loan, and the part of the monthly payments made towards the ppi premium will be returned to me. The monthly payments due will be rescheduled accordingly.

No figures were quoted, which troubles me slightly, but on the whole, this seems like a result to me.

What do you guys reckon? Is this good? In line with what others are being offered?

Any advice, very gratefully recieved.

Derek.

robbedofmymoney

Derek_Acorah wrote: »

Hi all, have been in process of claiming back PPI from FirstPlus.

Had a response from them, and I want to check out whether this is a good result.

They are refunding the premium of about 9.5k, plus interest paid on the premium to date. This will reduce the balance of the loan, and the part of the monthly payments made towards the ppi premium will be returned to me. The monthly payments due will be rescheduled accordingly.

No figures were quoted, which troubles me slightly, but on the whole, this seems like a result to me.

What do you guys reckon? Is this good? In line with what others are being offered?

Any advice, very gratefully recieved.

Derek.

to work out what is due can you let us know when the loan started, how much your monthly ppi element was of your repayments. (or total premium and term of loan with interest rate)
and have they added the 8% simple interest to the amounts you have paid.

if i have this information i can do a quick calc for you

di3004

Derek_Acorah wrote: »

Hi all, have been in process of claiming back PPI from FirstPlus.

Had a response from them, and I want to check out whether this is a good result.

They are refunding the premium of about 9.5k, plus interest paid on the premium to date. This will reduce the balance of the loan, and the part of the monthly payments made towards the ppi premium will be returned to me. The monthly payments due will be rescheduled accordingly.

No figures were quoted, which troubles me slightly, but on the whole, this seems like a result to me.

What do you guys reckon? Is this good? In line with what others are being offered?

Any advice, very gratefully recieved.

Derek.

Well done and Congratulations Derek :beer:.

I'm sure Robbedofmymoney will check this out for you, good luck.;)

Derek_Acorah

robbedofmymoney wrote: »

to work out what is due can you let us know when the loan started, how much your monthly ppi element was of your repayments. (or total premium and term of loan with interest rate)
and have they added the 8% simple interest to the amounts you have paid.

if i have this information i can do a quick calc for you

'Robbed' thanks for that, you are a gentleman and a scholar.

I've sent you a PM if thats okay, I'm a little paranoid till I actually see the money from them.

Cheers,

Derek.

EllBee

di3004 wrote: »

Hi there Ellbee

Its lovely to hear from you, hope your well.

Go for it, looks like a good case here, so give it a go.

Right the template letters are now changed to FOS questionnaires, complete and send to whom is responsible, and keep copies in case you need to refer to it later on.

You will find the FOS Questionnaires on the usual loan ppi reclaiming link, further down the page as Stage one:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

I believe there have also been more success this way, instead of using template letters, so hopefully it will be the same for you/daughter as well.

Wishing you luck, and you done really well, well done! :beer:

Hope you and all your lovely family are well, and yep still here LOL.

Di
XXX

Hi Di!

Thanks so much for your reply. I saw the FOS questionnaire thingy but was thinking it was something to be sent to the FOS (hadn't read it properly!!!) I'll look at that later and see what we can sort out for my daughter.

We're all fine thanks. Baby's now walking (nearly 16 months old), into everything and is gorgeous. Amazing when I think back to that 2 lbs 6 oz scrap that arrived way too early!! Certainly not a scrap any more and has one hell of an appetite!

Hope you and yours are all well and thanks again for being here! :A

I'll let you know what NatWest have to say once my daughter's sent her form off.

Ellbee

di3004

EllBee wrote: »

Hi Di!

Thanks so much for your reply. I saw the FOS questionnaire thingy but was thinking it was something to be sent to the FOS (hadn't read it properly!!!) I'll look at that later and see what we can sort out for my daughter.

We're all fine thanks. Baby's now walking (nearly 16 months old), into everything and is gorgeous. Amazing when I think back to that 2 lbs 6 oz scrap that arrived way too early!! Certainly not a scrap any more and has one hell of an appetite!

Hope you and yours are all well and thanks again for being here! :A

I'll let you know what NatWest have to say once my daughter's sent her form off.

Ellbee

Hi Ellbee

Hope your well.

Glad you and your family are okay and bless baby too - growing well, good and proper, that is fantastic.:A
Wow 16 months old.........:eek: time have flown by so quickly.

I think maybe the FOS Questionnaire issue can be confusing, but keep a copy anyway, so you have this in case it does end up with them, hopefully though that won't be the case.

Look forward to hearing the outcome of the Natwest case, fingers crossed and take care.

Love to you all.:A
Di
XXXXXXXX

lisaw260

Hi

Back in 2004, my husband & I took out a loan from above mentioned which included PPI the repayment period was 36 months. In March 2007, I discovered that we could challenge the loan agreement as there were key pieces of information missing from the loan agreement, we subsequently challenged this and to our amazement the remainder of the loan was written off.

We decided back in March of this year to reclaim the PPI in the grounds that it was missold, I have been told today that whilst they have upheld our complaint and they agree that the PPI was indeed missold, they are now telling me that because we had an amount written off the loan back in 2007, that we effectively will be offered nothing by way of compensation.

So my question is should I now complain to the ombudsman or take it straight to court, as I don't think its fair for them to say we are having nothing, when the original loan agreement wasn't legal in the first place.

Thanks
Lisa