PPI Reclaiming Discussion part 4

klflosser

Many thanks Di, I will try that number.

didd_2

this i a very quick posting of my situation. on friday i had a call from our bank natwest, saying they could save us some money on our current loan. obviously surprised i asked how and was told that we had ppi, i just said ok and made an appointment, she seemed very keen for tommorow at 1pm. now im in a tiswas coz i looked at our paperwork and can only see the monthly amount is for £42 less than wot we actually pay. i have no paperwork regarding ppi. if i go how should i play it?

di3004

didd wrote: »

this i a very quick posting of my situation. on friday i had a call from our bank natwest, saying they could save us some money on our current loan. obviously surprised i asked how and was told that we had ppi, i just said ok and made an appointment, she seemed very keen for tommorow at 1pm. now im in a tiswas coz i looked at our paperwork and can only see the monthly amount is for £42 less than wot we actually pay. i have no paperwork regarding ppi. if i go how should i play it?

Hi there

If the loan is still running, then you have a right to request for a copy of the loan agreement, this will show the loan amount and any ppi if taken out.
If they don't supply you with one free, then write a simple letter to their data dept of head office, enclose a £1 cheque or postal order and ask they supply you a copy of the agreement, remember to enclose the account number of that loan, this should be shown on statements, next to your monthly repayments.

If you believe the policy (PPI) was mis sold, then I would make a reclaim in writing only, keep everything in writing is best, check the link below for more details which takes you to a reclaiming questionnaire, this replaced the template letter, and again, complete, and send to either the head office or complaints dept if they have one.

Hope this helps for now, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Also just to add, that as long as you have the account number, it does not actually matter about any paperwork at this time, if you continued to make a reclaim, they may even send you a copy of the loan agreement back with the first letter, this then would be free of charge.

di3004

didd, forgot to welcome you to the thread so welcome.;)

I take it then they want to give you a further loan?

I don't think they sell the ppi in with the loan anymore, think the system have changed.

But the thing is here, if you do have a new loan, the ppi from the existing loan may be added, but usually they will rebate so much of it by reducing it as an earlier settlement of that loan to the new one, yet you won't actually see the money, it will just possibly be used to reduce the balance on that one. Maybe someone will clarify on this in case I'm wrong.

But if you decide you want to challenge the loan, I would as stated in my above post, do so in writing only, good luck.:)

amersall

didd wrote: »

this i a very quick posting of my situation. on friday i had a call from our bank natwest, saying they could save us some money on our current loan. obviously surprised i asked how and was told that we had ppi, i just said ok and made an appointment, she seemed very keen for tommorow at 1pm. now im in a tiswas coz i looked at our paperwork and can only see the monthly amount is for £42 less than wot we actually pay. i have no paperwork regarding ppi. if i go how should i play it?

Hi there, be wary about what you do with this, if you redo the loan then this will be over a longer term and apr, and as di says you will only get a small rebate of the ppi from your first loan, so the remaining ppi will be on your new loan. If you need to redo the loan as you need cash, then ask what the figures will be for new loan and what the ppi rebate will be for the first loan, ask what the term and apr will be so you know where you stand. If the new loan is ok with you, then you can still go mis sell on the first loan ppi.All you need is the account number to go mis sell.

didd_2

thankyou di for my welcome. i ought to clarify that i did not ask for extra funds, this call from my branch of natwest was completely out of the blue! however, we are currently in the process of remortgageing with them, so maybe that has something to do with it. we took the loan out in a bit of a rush, so i obviously didnt check it, but the paperwork is very brief, stating we been approved for a fast track loan, and a set of figures stating a + b = etc, no mention ANYWHERE of ppi! so when she said they could save on our loan because of the ppi, i was surprised because i didnt know we had it. the clue is the dif between the amount on the paperwork and the amount actually paid by direct debit. anyhow, thanks for your quick reply, i will let you know how it goes.

didd_2

amersall wrote: »

Hi there, be wary about what you do with this, if you redo the loan then this will be over a longer term and apr, and as di says you will only get a small rebate of the ppi from your first loan, so the remaining ppi will be on your new loan. If you need to redo the loan as you need cash, then ask what the figures will be for new loan and what the ppi rebate will be for the first loan, ask what the term and apr will be so you know where you stand. If the new loan is ok with you, then you can still go mis sell on the first loan ppi.All you need is the account number to go mis sell.

thanks, amersall, i am wary, and suspicious! as to why they got in touch with me first on friday, im so pleased i found this forum, over the weekend i was unsure wot to do and now i realise we been diddled and we want our money back. no, we didnt ask for more credit, they rang out of the blue, and i had no idea we had this ppi, as i explained to di, there is no mention of ppi on any paperwork, just a £42 dif on monthly sum and the actual amount we pay. we have 2 yrs left on this loan so are looking forward to clearing it, not taking on more. ive cancelled the appointment that was for 1pm. we need to get a plan of action!

amersall

didd wrote: »

thanks, amersall, i am wary, and suspicious! as to why they got in touch with me first on friday, im so pleased i found this forum, over the weekend i was unsure wot to do and now i realise we been diddled and we want our money back. no, we didnt ask for more credit, they rang out of the blue, and i had no idea we had this ppi, as i explained to di, there is no mention of ppi on any paperwork, just a £42 dif on monthly sum and the actual amount we pay. we have 2 yrs left on this loan so are looking forward to clearing it, not taking on more. ive cancelled the appointment that was for 1pm. we need to get a plan of action!

Good for you!! take a look here for reasons for mis sell.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#checklist
if any or all apply to you get a claim in, you can use the template letter or just write a few lines in your own words, i believe i was mis sold this ppi because... and give your reasons, (one being that you did not even know you had it!!! until very recently when the bank phoned and told you) you send this recorded to the complaints department of the bank and give them 8 weeks to respond. You could do the template, but if you end up taking this to fos then you have to fill another one in, and a letter will get th esame result. Good luck with this and please keep us posted.

didd_2

brill, thanks for that, im onto it now, however, ive just looked at fos consumer complaints form online and it asks for poicy number for the ppi. i have no policy no, no paperwork etc, all i have is account number for the loan, can i go ahead and state my case saying i have been told i have ppi but no docs to natwest, or do i contact the branch asking for a policy no. ? sorry if i dont make sense!

Gareth_Darke

Dirks_Engine_Room wrote: »

Four weeks ago the FOS adjudicator found in my favour against Natwest, and the adjudicator contacted them regarding her decision. Natwest still said no so of the obudsman we go. However, I never recieved in my letter from FOS Natwests response to their decision, even though it said the letter was attached. I e-mailed the adjudicator a couple of times and they sent an electronic version to me. In the letter, it does not officially reject the decision, it merely states that they cannot agree the decision until the judicial review is announced. I thought the judicial review was about opening and reviewing old cases. Therefore, what has my case got to do with that. The adjudicator will send it to the ombudsman but will that alter anything?

I was interested in the answer to this as it seems to be a problem with all NatWest claims at the moment. Seems a PM was given in this case, could I ask for the jist of it please?????

Regards

G