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PPI Reclaiming Discussion part 4
Comments
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superfurry909 wrote: »Hi,
I am after some advice on what to do next, sent letter to Nat West re PPi miselling 8 weeks ago, recieved letter from RBS today stating they are continuing to gather info, yet when I phoned them last week they said that the invesitgation had been concluded, and were awaiting someone to review the claim, but due to the backlog this could take another 6 weeks. Is this just a stalling tactic? Any advice on wether to go to the Ombudsman at this point would be grateful, or is it worth awaiting RBS to give their reply?
Would an email to the CEO be of any use?0 -
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Hi,
I am after a bit of advice regarding credit card insurance that I am trying to reclaim from LLoyds.
I wrote to them initially at the beginning of August stating my reasons for wanting my insurance paid bac, the reasons that I used were the same reasons that I had used when re-claiming loan PPI , the credit card and the loan were taken out at the same meeting.
Lloyds wrote back to me rejecting my claim saying that I was wrong etc and that the insurance was sold lawfully.
I posted on here with regards to this as it baffled me slightly that they have admitted mis-selling the loan ppi but not the credit card insurance, it was all sold to me at the same time. Di gave me some advice and said to write back to them stating this giving them 14 days to look into it and re assess the info that I had sent to them.
I sent the letter to them on the 16 September via recorded delivery, i phoned LLoyds to check that it was on their system a few weeks later as i had not heard anything from them only to be told that the letter was recieved on the 17th September but that it woould not be looked into due to the court case that started at the beginning of October. I was under the impression that as my letter was sent ion prior to this they would have to deal with it? Am I wrong?
Anyhow I am now getting my bits together to complain to the Ombudsman but was told today that if I had not recieved a final response then the Ombudsman wont deal with my case? I did recieve a final letter but I am guessing that as I sent a letter to them after they sent their Final letter that it is not closed at the bank?
Really sorry to seem so dim I just dont know what to do now and was after some advice.
Many Many thanks in anticipation
Hi there
So sorry to hear your still waiting for a decision on this since you wrote back into them.
Your not dim so no worries.:D;).
It looks like then even though they did send you a final decision they have decided to relook into it since you sent a further letter, as i suggested to you.
What I would do is either email or ring them and ask when you should receive a decision, explain you did have a final letter and had since sent in a further letter to ask them to reconsider your complaint and some weeks have gone by since.
As you may also be aware it may also take some time for the FOS to deal with it, but Lloyds don't seem to be rushing it either do they.
Email them here:
[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]
And copy it to the Chief exective officer (CEO), so Lloyds can see an email have been sent to this dept as well.
[EMAIL="!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"]!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!![/EMAIL]
If another 8 weeks have passed since you sent in another letter, then tell them you want to know a timescale, because you have an automatic right to complain to the FOS if you hear nothing once the 8 weeks have passed.
Hopefully they will come back with a hopeful decision for you.
Hope this helps, good luck and please keep us posted. Cheers.;)The one and only "Dizzy Di"0 -
Hi,
Having followed the Instructions to reclaim our RBS Mortgage Loanguard Insurance which was missold, I have now received a letter from RBS saying that since they cannot prove otherwise they are making a 'goodwill' repayment of all the premiums - no mention of Interest.
Am I right to continue to pursue this to get the interest, or am I better off settling - which goes against the grain since they don't have a leg to stand on and have effectively admitted as much?
Cheers, and thanks for all the great advice and resources!
Steve.
I would think the interest is the 8%, you only get this if it goes to fos, as this is how fos redress. You will get mis sell redress with the good will offer, if the loan is cleared then you get the refund, less the rebate they gave you if the loan was settled early, (if the loan ran full term, then you get the ppi total back) If the loan is still running, make sure they reset the loan at the same term and apr as the loan with ppi.0 -
PLEASE PLEASE PLEASE GO MIS SELL WITH THIS PPI.
the ppi you have at the moment is payable over the term with interest, and you are only covered for 5 years so at that point you will have to take cover elsewhere. The 5 year payout that you are talking about is the ppi of £12000, you will get this back BUT the 12000 ppi is still on your loan with interest for the rest of the loan.
To give you an idea of what you will be paying for this money back, calculate the monthly ppi payment by the loan term and that will make your jaw drop, and you will have no ppi protection after 5 years either. If you win mis sell then the £12000 is taken off the balance of your loan thereby reducing your monthly payment by the ppi monthly amount, you recieve back to you the ppi monthly payments made to date (if any arrears they take these off first). Fos dont look too kindly on these types of ppi, so get a letter off to fp today saying you were mis sold this ppi because.
1) you did not know the ppi was another loan added to the original .
2) you were only covered for 5 years with this ppi.
3) after 5 years you would get the ppi back but without interest.
4) after the 5 year period, you would still be paying the ppi back for the remaining loan term with interest.
5) this was not explained to you fully enough to make an informed decision.
6) As fp take 70% comission on the sale of these policies, you believe that this was the incentive to sell without disclosing the full facts to you.
Try phoning fp and tell them you want to claim mis sell and i think they will take your complaint over the phone, if they dont write a letter and send it recorded. These types of policies are the most upheld for mis sell just by the nature of it.
thankyou so much for this advice i shall ring them this afternoon
thanks again!!0 -
Hi there, is that the 8 weeks?. I would see if they ask for more time, or they may just get back to you by this date with a decision.You can go to fos after the 8 weeks but if the bank are communicating with you then i would stay with the bank as the fos can take some time!.
Hi amersall
Thanks for your reply. They have already asked for more time and said that they needed until the 25th Nov to conclude their investigations. So shall I hang on and phone them. I got the request for an extension through secure mail from the Bank of America and have a number on the mail.0 -
mumtothreegirls wrote: »Hi amersall
Thanks for your reply. They have already asked for more time and said that they needed until the 25th Nov to conclude their investigations. So shall I hang on and phone them. I got the request for an extension through secure mail from the Bank of America and have a number on the mail.0 -
As expected 8 weeks is now up since I sent my original claim questionaires into Lloyds tsb and surprise surprise I recieved a letter saying they were looking into it but thats all i've had!!! Could anyone advise me of the best steps to take now with the Financial Obudsman??? hall I use the template letter on here??0
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Has anyone had any dealings with AA Loans on this matter good or bad??0
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