PPI Reclaiming Discussion part 4

noodledoodle73

Hi Everyone,

Stupidly just realised have PPI on my MBNA card that i've had for years (@1999), i never thought to check my statement for PPI as i would never have opted for it, but there it is.

I do intend to try and claim it back but just wanted some advice before i send my initial letter, should i cancel it now before i've sent the letter or will it be automatically cancelled by MBNA upon settlement/reciept of letter?

Thanks

Bev

Red_peppers

cappo wrote: »

definitly the more communication you have with them the better, the fos will deffo uphold this anyway so they might as well payout sooner than later

amersall wrote: »

Send all info to

[EMAIL="robert.diamond@barclaysplc.com"]robert.diamond@barclaysplc.com[/EMAIL]



Put you are amazed at the response from FP as this was clearly mis sold,and could someone take a look at this.

Thanks Guys,

I am feeling a lot more positive about this today. I will hold off posting the letter until tomorrow, just in case anymore needs adding, then email it also to Mr Diamond.

In all your collective experiences do you think there is a chance of FP changing their mind or do you see it destined for the long FOS queue?

cappo

inseriousdebt wrote: »

My question is that if they decide to pay compensation or refund my premiums will they just take it off the balance I owe them or can I specifically ask for the money to be paid direct by cheque.




I ask again as a friend in similar circumstances to me, has outstanding loan of £4500 and his compensation was £3000, Halifax initially wrote to say they will reduce his balance, however he called and recieved £3000 by cheque. and he still owes Halifax £4500.

Anyone have experience of getting the compensation via a cheque, if account is in arrears.

Much Appreciated

Hi there might be mitigating circumstances but generally if your in arrears they will take any arrears out of your payment.

cappo

Red_peppers wrote: »

Thanks Guys,

I am feeling a lot more positive about this today. I will hold off posting the letter until tomorrow, just in case anymore needs adding, then email it also to Mr Diamond.

In all your collective experiences do you think there is a chance of FP changing their mind or do you see it destined for the long FOS queue?

Hi i would deffo have a word with diamond and talk to a manager at fp again, they've made the wrong call here and the fos will uphold it, you could mention calling the fsa

cappo

noodledoodle73 wrote: »

Hi Everyone,

Stupidly just realised have PPI on my MBNA card that i've had for years (@1999), i never thought to check my statement for PPI as i would never have opted for it, but there it is.

I do intend to try and claim it back but just wanted some advice before i send my initial letter, should i cancel it now before i've sent the letter or will it be automatically cancelled by MBNA upon settlement/reciept of letter?

Thanks

Bev

yes if it's a card you could cancel it if it's no use to you,mbna policies apparently very rarely are, there underwriters "cover" a few cards now, no go ahead, try to leave yourself some cover though a stand alone policy would do as there not all bad see link below for reasons for misold




http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance


cards are very simliar the only difference on the older policies being that cards were always a monthly premium loans were upfront, good luck.

cappo

Twitchy1 wrote: »

Hi, sorry if I'm posting in the wrong place, not too good with forums etc!!

I have a question I'd really appreciate some help with please? I had a grad loan which I took out in jul 2001, which came with ppi (5200 loan, 931.76 ppi, ouch!). I didn't really know anything about finance at the time, I'd just finished uni, had an offer of a job to start in the sept, but at the time was not working - I needed the loan to get a reliable car to get to work in for sept & to clear a bit of credit card debt. I am also diabetic, & was then, which these days I am aware would exclude me from a lot of insurance terms on medical grounds as there is a wide range of what they will lump in under pre-existing conditions (including heart attacks!). I don't have any paper work other than the statement of the loan, which details the insurance payment but no insurance details (t&cs, ref no etc). From this site it looks like the policy was probably missold (I don't remember any info on the medical aspect alone, & find it odd that I was given ppi whilst not employed??)... does it sound like I was missold, (& is there any way I can be sure without the t&c info, which the bank have refused to give me!) & given that I have very little info, do I have a cat in hell's chance of getting anywhere?

Hope that makes sense, sorry if I'm being an idiot/posting in the wrong place!!

Thanks,

Twitchy

Hi well to start with you should'nt have been sold the ppi if you were un-employed or in uni 2 good reasons there, go for it




http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

cappo

nanaw wrote: »

Hi, I tried to find an answer to my question on this forum but I cannot so I will ask my question and I hope someone wil be able to answer it.
In the last 5 years I took 5 loans (I had to take next one to re-pay the previous one). I know I have a PPI on at least 3 of them. I sent letter to Natwest (with £10) and I only got copies of the 2 loans. They said that they dont have other copies, including the paperwork for the latest loan. I lost all my documents due to fire. Is there any law saying how long they have to keep documents? many thanks, Anna

Hi anna 6 years but many banks go back much further, they should be able to go back technically when the computer age started in the late 80's but each bank is different, i'd contact your banks dsar dept and ask them to look a bit harder as it's likely that they have got the paperwork.

amersall

inseriousdebt wrote: »

My question is that if they decide to pay compensation or refund my premiums will they just take it off the balance I owe them or can I specifically ask for the money to be paid direct by cheque.




I ask again as a friend in similar circumstances to me, has outstanding loan of £4500 and his compensation was £3000, Halifax initially wrote to say they will reduce his balance, however he called and recieved £3000 by cheque. and he still owes Halifax £4500.

Anyone have experience of getting the compensation via a cheque, if account is in arrears.

Much Appreciated

Some banks give you the option to take the win off arrears or have it paid direct to you,i know Nram do this,there is no harm in asking,what you dont ask for ,you dont get!!.

amersall

Red_peppers wrote: »

Thanks Guys,

I am feeling a lot more positive about this today. I will hold off posting the letter until tomorrow, just in case anymore needs adding, then email it also to Mr Diamond.

In all your collective experiences do you think there is a chance of FP changing their mind or do you see it destined for the long FOS queue?

FP can change their mind,fingers crossed xxx.
Especially with the info we give them!.

samtob

Hi, referring to my post this morning, just a quick question; In brief, had Tesco credit card since 1998, with PPI. Tesco agree I was mis-sold PPI and offered a very nice refund. They state that 'I would like to offer you a refund for your ppi from December 2003. This is the earliest available payment date we hold on record for your account. If you can provide any earlier card statements which show ppi, please submit these and I will be happy to review our offer'. As another kind post added, I have the original application which shows PPI was added in 1998, so surely this should count as 'evidence'? And surely it is up tp Tesco to provide this information, they must have it on record when I was paying PPI? If it was taken out at the time of application then this proves somewhat that I have been paying since 1998?, Also, does anyone know that if you do not accept the first offer and ask them to consider to review the offer, is there a risk of losing the first offer altogether? Sounds daft, I know, but I don't want to tempt fate. Good news like this doesn't happen to me often so I'm kind of expecting it to go wrong somewhere!