PPI Reclaiming Discussion part 4

di3004

maved wrote: »

One letter sent on 31st Jan 2012 to Alliance & Leciester (Santander) about PPI. £5886 in MY bank 16th Feb 2012.
My brother sent a claim into them (A & L) 14th Feb had a letter today 21st Feb, he's owed £4500. Another success thanks Martin:j:j:j:T:T

Excellent, Congratulations!:beer:

di3004

bethg2009 wrote: »

Just got home and found an offer letter for £1880 from Santander and a paragraph reads;
This is made in full and final settlement of your complaint.

How do I know this is the correct amount as I no longer have the credit agreement?
Do I just accept it? as it does seem a fair offer as the original loan was only for £8000 and ended in July 2010, it looks about right as far as I can tell. Is there a kind of a general "rule of thumb" as to what percentage of the loan is added as PPI that anyone may be aware of?
I recall having similar kind of cover on a catalogue many moons ago that was charged at either 28 or 32% of your balance each month for example so would be interesting if it was that simple.

Fantastic, Congratulations!:beer:

di3004

Bulky wrote: »

Also just found out my up front ppi only lasted for five years out of the seven year term , so now i have a loan which ppi was forced upon us , was front loaded which was never explained to us and sold us a policy that doesn't last for the full term of the loan, how did rbs get away with this ? , unfortunately i have already sent the forms off and at the time didn't know about or understand front loaded ppi or the fact thebpolicy only covered us for 5 years out of seven ... Should i write them another letter or just wait for a reply ?

Hi

Hopefully they should realise that they should not have sold you this type of costly policy anyway and take it into account as standard procedure, as these are frowned upon by the regulators, they should know better and uphold in your favour.

See what the letter says, but hopefully all will be ok.

Fingers crossed.

paintpotter

I put in a complaint late in December regarding a large loan I had running for 3 years with Black horse finance, still not heard anything, although when phoning them yesterday they stated they are still investigating. Does anyone know how long these complaints take with Black Horse?

lesbonsmarches

icmelerlovers wrote: »

@dilus
i just found out that at the time of my loans , i had with my company
sickness cover
private health care
pension plan
life cover 3 x salary
so i have just rang nationwide with this as i didnt have information when i sent of questionaire,

Hi, I hope you don't mind me contacting you directly.
We also had a loan with the nationwide with PPI. I cancelled the PPI after a number of years as like you, I realised my company provided good cover.
I was wondering what type of response you got from nationwide as looking through the paperwork, i can see that they always said it was optional in the paperwork and I can't recally what they said on the phone to me when selling the insurance.
If you are able to share your experience, I'd really appreciate it.
thanks and good luck,

blennerh2b

Kafkaesque wrote: »

Great news, congrats! Can I ask how long Egg took to give a final response? I chased them today 6 weeks after complaining, they couldn't tell me any more than the fact it was still being investigated, and that most were taking the full 8 weeks.

Hi Kafkaesque,

Here is timeline of letters received. Hope this will give some help/indication.

3/11/2011 - Letter from egg saying they had received my complaint. They said it would take 12 weeks and that I should hear by 25/1/2012. (It would have been 8weeks but FSA had allowed them to extend to 12weeks).

21/01/2011 - Letter from egg confirming complaint had been upheldd and that I would receive further correspondence in next 7 - 10 days, but that compensation would include refund of ppi, contractual interest + compensation interest @ 8%

1/2/2011 - Letter from moorgate loan servicing (egg had sold my loan to them in June 2011) stating that further to my recent communications with Egg, I can confirm your monthly payment has been amended to £92.49.

At this stage I had not received a letter from Egg and assumed that the reduction in my loan by a payment of £290 (I learned this figure later) was all that I would be getting. At the time altough saddened - an extra £20 a month in my bank was great - I had been paying £111 a month.

14/2/2011 - Received letter and the £3k check. I hope this gives you the answer you wanted.

cappo

paintpotter wrote: »

I put in a complaint late in December regarding a large loan I had running for 3 years with Black horse finance, still not heard anything, although when phoning them yesterday they stated they are still investigating. Does anyone know how long these complaints take with Black Horse?

Hi they are still behind at the moment so think 8+ weeks. they should be contacting you again shortly.

cappo

di3004 wrote: »

Hi

Hopefully they should realise that they should not have sold you this type of costly policy anyway and take it into account as standard procedure, as these are frowned upon by the regulators, they should know better and uphold in your favour.

See what the letter says, but hopefully all will be ok.

Fingers crossed.

Hi Di lovely to see you again on here how's dan's foot

amersall

jodie77 wrote: »

ok thanks, do i need to put my acciount number in the letter i send? I know it sounds abit silly but wasn't sure weither to or not

Yes you do.

icmelerlovers

lesbonsmarches wrote: »

Hi, I hope you don't mind me contacting you directly.
We also had a loan with the nationwide with PPI. I cancelled the PPI after a number of years as like you, I realised my company provided good cover.
I was wondering what type of response you got from nationwide as looking through the paperwork, i can see that they always said it was optional in the paperwork and I can't recally what they said on the phone to me when selling the insurance.
If you are able to share your experience, I'd really appreciate it.
thanks and good luck,

hi lesbonsmarches
my loans was taken out in branch
i was led to belive i needed ppi to obtain credit and wasnt asked if i wanted or needed it. i was told it would help me to obtain credit. as i only used nationwide at the time as my secound bank account and only used it for direct debits , even my salary wasnt paid into the account .
so i rang nationwide with my compliant about above, and they sent me questionaire to fill out , at the time of filling out questionaire i didnt have all the info from my old employer at the time regarding if or what cover i had.
i got hold of an old director , and he told me what we as employees had at the time .
so on monday i rang nationwide so they could update my questionaire.
so i just have to wait to see the outcome of the 8 weeks waiting period .