PPI Reclaiming Discussion part 4

di3004

trish123 wrote: »

Hi all finally got our letter from Mbna saying a credit of 503 will show on our next statement and a cheque for 507 will be sent under seperate cover.No breakdown no acceptance letter nothing.It also said that this is our final response and that they will not enter any futher correspondence,now this card has been running since 98 and i know for a fact that we were up to outr limit for about 2 years do i ask for a breakdown again or just accept it?

Hi Trish

A tricky one, with it being a final decision, even though sometimes banks are known to change their minds depending on what any further infor you may give them.
Its a chance you take really, if you any further info to give them, you can say you are not actually happy of the offer and don't feel they have investigated your complaint properly, the FSA punishes banks for this reason, and would appreciate they relook into your case, and if they could let you know by 7 days in order for you to decide on what to do from here.

But........otherwise request they send you a detailed breakdown first and take it from there.
And of course you do then have the option of the FOS direction otherwise.;)

bernie_inn

amersall wrote: »

Hi there and well done on your win :j:j:j you do not get the whole ppi back to you as the loan is still running, you get ppi paid to date with interest back (you dont get ppi that you have not yet paid) so you get £109 x the months you have paid + interest.The ppi of £15000 comes off your loan balance and the loan reduces monthly by £109, hope this helps.

Ah erm sorry for causing excitement, but the refund is the standard 5 year one I should have clarified this sorry. They have turned down my claim. The question i was asking is when i get my 5 year refund (February) whether the PPI payment comes off my monthly payment after i've had the 5 year refund? i fully intend to contest thier decision.

Sorry again

amersall

bernie_inn wrote: »

Ah erm sorry for causing excitement, but the refund is the standard 5 year one I should have clarified this sorry. They have turned down my claim. The question i was asking is when i get my 5 year refund (February) whether the PPI payment comes off my monthly payment after i've had the 5 year refund? i fully intend to contest thier decision.

Sorry again

Sorry about that, yes the ppi stays on your loan and the payments stay the same, as this ppi was put on the front of your loan over the whole term.Did you not persue your mis sell? as these policys are a rip off.If i were you i would now put a claim in for mis sell that way you get the 15000 off your loan balance and your monthly payment goes down, mis sell is the best way to go with this company as you win in the end and not them, but when you win,
(i am confident you will), you get all ppi paid to date plus interest.

Dazzarazza

Hi all

I have today wrote off to Egg in regards to PPI.

I took out an Egg loan in May 2007 online, and selected PPI by ticking the box. I wasn't aware that alternatives are available, and cant remember the exact wording used on my application online.

But having read the documents they sent me the letter stated.

Next, to protect your payments, make sure you tick the box where it says I wish to purchase loan payment protection.

Finally, sign again to make sure your payments are protected.

In my questionaire I mentioned about them already being fined by the FSA, and also mentioned that the wording used about PPI implied it was part of the process in my eyes. I also mentioned that they never informed me alternatives were available.

Were these wise words?

My loan was for £11600 the cost of the protection is £2338.10 with a premium lent of £383.98.

My loan is due to expire in December 2011 as I have took payment breaks.

I am planning on writing to Natwest, however I have misplaced my insurance documents. So requested copy documents in a branch today, which they say will be posted out to me within 14 days?

I took out my Natwest loan over the phone in 2008 I think, and recall when speaking to the lady she informed me that for the amount i was borrowing she advised me to take out PPI, again I wasn't informed of alternatives. I'll be mentioning this in my claim questionaire, but wondered if anyone had any advice on such experiences with Natwest?

Thanks all

amersall

Dazzarazza wrote: »

Hi all

I have today wrote off to Egg in regards to PPI.

I took out an Egg loan in May 2007 online, and selected PPI by ticking the box. I wasn't aware that alternatives are available, and cant remember the exact wording used on my application online.

But having read the documents they sent me the letter stated.

Next, to protect your payments, make sure you tick the box where it says I wish to purchase loan payment protection.

Finally, sign again to make sure your payments are protected.

In my questionaire I mentioned about them already being fined by the FSA, and also mentioned that the wording used about PPI implied it was part of the process in my eyes. I also mentioned that they never informed me alternatives were available.

Were these wise words?

My loan was for £11600 the cost of the protection is £2338.10 with a premium lent of £383.98.

My loan is due to expire in December 2011 as I have took payment breaks.

I am planning on writing to Natwest, however I have misplaced my insurance documents. So requested copy documents in a branch today, which they say will be posted out to me within 14 days?

I took out my Natwest loan over the phone in 2008 I think, and recall when speaking to the lady she informed me that for the amount i was borrowing she advised me to take out PPI, again I wasn't informed of alternatives. I'll be mentioning this in my claim questionaire, but wondered if anyone had any advice on such experiences with Natwest?

Thanks all

Hi there, if i were you i would put your claim in now with nat west for mis sell.Dont wait for your ins doc if you need the docs later then you will have them, put your reasons for mis sell and you want your premiums back with interest and the loan restated, as you did this on the phone and you were advised to take ppi because of the amount of the loanPut all reasons you have for mis sell on this loan.Let us know how you get on.Also what you put in the letter to egg is fine.

Dazzarazza

amersall wrote: »

Hi there, if i were you i would put your claim in now with nat west for mis sell.Dont wait for your ins doc if you need the docs later then you will have them, put your reasons for mis sell and you want your premiums back with interest and the loan restated, as you did this on the phone and you were advised to take ppi because of the amount of the loanPut all reasons you have for mis sell on this loan.Let us know how you get on.Also what you put in the letter to egg is fine.

Thank you for your reply amersall.. I just can't remember my Policy number for the insurance. Would this be a necessity now?

amersall

Dazzarazza wrote: »

Thank you for your reply amersall.. I just can't remember my Policy number for the insurance. Would this be a necessity now?

Hi , no you only need your loan number, they will find your ppi on that agreement.

di3004

Dazzarazza wrote: »

Thank you for your reply amersall.. I just can't remember my Policy number for the insurance. Would this be a necessity now?

Hi Darren.

Darren, the account number of the loan, (which would be the same as the ppi number) should be shown next to the monthly repayments, so if you repaid the loan through your bank account the account number is normally shown next to the repayments.;)

Dazzarazza

Cheers both, I have the account number as it is shown on my online login.. I cant remember the exact amount of loan (around 20k I reckon) nor even the date i took it out. But gathering by both of your replies they themselves will gather all this from the account number i guess, so that is down to them to figure out etc and not me (I thought i'd need to tell them you see)

Thank you again!

amersall

Dazzarazza wrote: »

Cheers both, I have the account number as it is shown on my online login.. I cant remember the exact amount of loan (around 20k I reckon) nor even the date i took it out. But gathering by both of your replies they themselves will gather all this from the account number i guess, so that is down to them to figure out etc and not me (I thought i'd need to tell them you see)

Thank you again!

Your very welcome, and please let us know how you get on x