PPI Reclaiming Discussion part 4

The_Logans

:mad:

I had a personal loan with Clydesdale about 6 years ago. I also had a current account with them until about 4 years ago. I wrote to them asking for a copy of the credit agreement. They replied saying that our records show that the loan has been repaid and they are therefore under no obligation to provide that information. So, I then sent £10 with a SAR letter. Guess what the response said? We have been unable to trace any accounts in your name at any of the addresses quoted.

So do they a) have a record of a repaid loan, b) have no records or are they c) lying to me????

cappo

The_Logans wrote: »

:mad:

I had a personal loan with Clydesdale about 6 years ago. I also had a current account with them until about 4 years ago. I wrote to them asking for a copy of the credit agreement. They replied saying that our records show that the loan has been repaid and they are therefore under no obligation to provide that information. So, I then sent £10 with a SAR letter. Guess what the response said? We have been unable to trace any accounts in your name at any of the addresses quoted.

So do they a) have a record of a repaid loan, b) have no records or are they c) lying to me????

Hi they are probably lying to you i've been having LTSB lie to me about just about everything, my spin on it is the banks are finally starting to realise that they are going to have to pay out more than they anticipated, there going to have to payout but not without a fight and i think this applies to all banks now.

smitchy73

amersall wrote: »

You are welcome,let me know what you find out.

Hi Amersall,
Phoned FOS today and logged some details with them, they couldn't really shed any light on whether the bank is right or wrong regardless of the wording of the FSA guidance, may give them a call just to clarify the wording after I've read the guidance again.

Basically what gets me is if they leave it as it is, i'll have paid £7800 through the DCA, £6300 from ppi redress, and left with somwehere around £4000 outstanding, which is over what the intial loan/ppi/int was, okay I defaulted but did start to pay back and thought this was the chance to clear it once and for all, so although they are refunding money from the ppi complaint i'll end up paying back more than the intial loan/ppi/int.

Hope this makes sense!

beamerguy

Kiz2011 wrote: »

hi every one i am looking to reclaim my PPi and i have drafted up a letter. Please can you give me your thoughts to it:

Thank you




Dear Sir or Madam,

Re: Account number: ........

I am writing in relation to the above payment protection (PPI) policy which I believe was mis-sold to me. I believe you have not treated me fairly for the following reasons;

• The payment protection insurance (PPI) was added without my knowledge.

• The sales person selling the insurance was pushy and strongly advised me to take the insurance.

• I was told I had to take the insurance and I could not get my credit card without the PPI.

Unless you can prove that the policy was fair and reasonable and that I was treated fairly when I was sold the insurance, I demand a full refund of all premiums, and subsequent interest on these payments, that I have paid in relation to this policy. Due to the PPI occurred some charges for going over the credit limit therefore I would like a refund for all the extra charges. I also expect 8% interest to be added to each payment I have made as this is the statutory amount a court would pay.

I look forward to your full and prompt response to this letter.

If this matter is not settled within eight weeks of this letter I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully,

Very good letter

amersall

smitchy73 wrote: »

Hi Amersall,
Phoned FOS today and logged some details with them, they couldn't really shed any light on whether the bank is right or wrong regardless of the wording of the FSA guidance, may give them a call just to clarify the wording after I've read the guidance again.

Basically what gets me is if they leave it as it is, i'll have paid £7800 through the DCA, £6300 from ppi redress, and left with somwehere around £4000 outstanding, which is over what the intial loan/ppi/int was, okay I defaulted but did start to pay back and thought this was the chance to clear it once and for all, so although they are refunding money from the ppi complaint i'll end up paying back more than the intial loan/ppi/int.

Hope this makes sense!

How much was the original loan and ppi?.
Is it possible they dont know the amount that you have paid back since being in default?.

smitchy73

amersall wrote: »

How much was the original loan and ppi?.
Is it possible they dont know the amount that you have paid back since being in default?.

The original loan was for £9000, the ppi was £2238, interest rate 17.88% over 60 months, they have the same outstanding balance with the ppi on it, but there is no difference having been told they found in favour of the ppi complaint, i've emailed the executive concerns team with some more facts, and FOS are happy to take on this new complaint, but i've left it at logging some details and see how I get on with that.
The debt collection agent was their own one and i kept getting updated statements from the loan over the period I was paying through the DCA, from the bank! Plus all the figures i've had from them are the same.

I've actually copied and pasted the details you and cappo had done on the thread 'How FOs calculates redress' with a link to it, basically saying to them that if I hadn't had ppi I probably wouldn't have defaulted as I was paying about £70 a month on ppi, and if they don't take something off the loan they are not restructuring it properly and charging me for defaulting on the loan and because of the ppi they shouldn't do that, i've also reitirated to them I am not disputing the redress amount just the restructuring and I had to make that clear to the FOS too.

Any other advice.;)

lisajaynec

The_Logans wrote: »

:mad:

I had a personal loan with Clydesdale about 6 years ago. I also had a current account with them until about 4 years ago. I wrote to them asking for a copy of the credit agreement. They replied saying that our records show that the loan has been repaid and they are therefore under no obligation to provide that information. So, I then sent £10 with a SAR letter. Guess what the response said? We have been unable to trace any accounts in your name at any of the addresses quoted.

So do they a) have a record of a repaid loan, b) have no records or are they c) lying to me????

I have been supplied my account numbers from yorkshire bank from 1996 and 1999, so they do have them although they told me they couldn't locate the paperwork. I also did a SAR and not got anything so I emailed the CEO telling him all this and I received a phone call back saying that yorkshire bank are re-looking into this for me. I had no reply from first email but kept resending it daily until i got a reply. give it a go it worked for me.
You could also try experian -free for 30 days and it gives you a list of all credit agreements that you have had in last 6 years (so I had one listed on mine taken out in 1988 but paid off in 2005 so was still listed)
Good luck

sorryitsme

sorryitsme wrote: »

I have just been looking through an old car insurance with Diamond, the policy document states it "includes payment protection plan".

It is for £2.50 a month and I was with them for 6-7 years, and for 3 years had 2 car at the same time.

I was completely unaware that I was paying for this service, and have never signed anything stating this was a product that I wanted.

Do I complain the same way as with my loans and credit card?

I already had insurance to cover me if I lost my job, worked with a local authority through some of the years and had a pre exsisting medical condition.

Any advice grately appreciated.

I emailed them on Saturday and had an email back today, apparently I will have a response back from them in 8 weeks. So anyone with Diamond Insurance check your policy documents.;)

amersall

smitchy73 wrote: »

The original loan was for £9000, the ppi was £2238, interest rate 17.88% over 60 months, they have the same outstanding balance with the ppi on it, but there is no difference having been told they found in favour of the ppi complaint, i've emailed the executive concerns team with some more facts, and FOS are happy to take on this new complaint, but i've left it at logging some details and see how I get on with that.
The debt collection agent was their own one and i kept getting updated statements from the loan over the period I was paying through the DCA, from the bank! Plus all the figures i've had from them are the same.

I've actually copied and pasted the details you and cappo had done on the thread 'How FOs calculates redress' with a link to it, basically saying to them that if I hadn't had ppi I probably wouldn't have defaulted as I was paying about £70 a month on ppi, and if they don't take something off the loan they are not restructuring it properly and charging me for defaulting on the loan and because of the ppi they shouldn't do that, i've also reitirated to them I am not disputing the redress amount just the restructuring and I had to make that clear to the FOS too.

Any other advice.;)

They should have taken the whole ppi off,dont know what they are playing at,let me know how you get on.

amersall

smitchy73 wrote: »

Hi Amersall,
Phoned FOS today and logged some details with them, they couldn't really shed any light on whether the bank is right or wrong regardless of the wording of the FSA guidance, may give them a call just to clarify the wording after I've read the guidance again.

Basically what gets me is if they leave it as it is, i'll have paid £7800 through the DCA, £6300 from ppi redress, and left with somwehere around £4000 outstanding, which is over what the intial loan/ppi/int was, okay I defaulted but did start to pay back and thought this was the chance to clear it once and for all, so although they are refunding money from the ppi complaint i'll end up paying back more than the intial loan/ppi/int.

Hope this makes sense!

You need to get the exact figures from before and from when the loan defaulted,it may be the large balance includes arrears from previous,it may be a good idea to SAR the bank and The bank collections to get all the info they have,unless you have all records of all payments made to date?.
You need a proper calculation to work this out,the arrears can only be the reason this loan is still owed 4000,that is my logic anyway.