PPI Reclaiming Discussion part 4

beamerguy

laydeelana wrote: »

HI
I took out a £2000 loan back in 2007 with Natwest ...not sure if it had ppi on it and no longer have paperwork so was wondering would it be worth tryin to put in a claim ?

You can start by going to your branch and asking them, failing that you can SAR them which costs £10 and they must provide you with all the information

dilus

laydeelana wrote: »

HI
I took out a £2000 loan back in 2007 with Natwest ...not sure if it had ppi on it and no longer have paperwork so was wondering would it be worth tryin to put in a claim ?

Hi Laydeelana,
It's not a case of putting in a "claim" it's a case of complaining that you were mis sold PPI.
You say that you don't know if you were paying PPI, first you need to find out if you were. You can do this either by simply phoning Natwest and asking if your loan had PPI on it, they may tell you they may not. This might be difficult because you don't have the account number. If not you might have to request a SAR and pay a one off fee of £10, they then have 40 days to supply all they hold on record for you. Once you have established that you did have PPI then you need a valid reason to believe you were mis sold. If you have a valid reason then go for it. If you did have PPI and have a valid reason you will get all the help you need for free here

T4FF

I have the original loan agreement of an Egg loan I took out with my partner in 2002. It no longer appears on my credit file, so must have been settled over a year ago. I know that around that time, I began to drop PPI on everything as I had a load of them and either didn't know I was paying them (my RBS bank account) or didn't know I could have separate PPI agreements elsewhere (such as with this loan).

I've got all the details, the account number, the amount of the PPI and the monthly payments. I reckon I may even be able to find statements if I looked hard enough.

Despite the age, as I've got my details, is it feasible to complain given the age?

dilus

T4FF wrote: »

I have the original loan agreement of an Egg loan I took out with my partner in 2002. It no longer appears on my credit file, so must have been settled over a year ago. I know that around that time, I began to drop PPI on everything as I had a load of them and either didn't know I was paying them (my RBS bank account) or didn't know I could have separate PPI agreements elsewhere (such as with this loan).

I've got all the details, the account number, the amount of the PPI and the monthly payments. I reckon I may even be able to find statements if I looked hard enough.

Despite the age, as I've got my details, is it feasible to complain given the age?

I would say certainly, you have all the details you need, fill in a questionnaire, dig out the statements you can find, the more the better, photocopy everything and send the copies recorded delivery.
One thing, would you know if this PPI was front loaded ? As this is a big reason to complain, if it was it won't show on the statements as it would have been added to the loan amount at the start, so if you find a statement and it isn't apparent the chances are it was front loaded

T4FF

dilus wrote: »

I would say certainly, you have all the details you need, fill in a questionnaire, dig out the statements you can find, the more the better, photocopy everything and send the copies recorded delivery.
One thing, would you know if this PPI was front loaded ? As this is a big reason to complain, if it was it won't show on the statements as it would have been added to the loan amount at the start, so if you find a statement and it isn't apparent the chances are it was front loaded

Thanks dilus, you've answered these questions around front loaded PPI on a previous loan. I'm trying to find the statements to prove it!!

[Deleted User]

dilus wrote: »

If you did have PPI and have a valid reason you will get all the help you need for free here

Hi Dilus! I'm reading this thread (as well as contributing), but some of the experienced replies appear a bit contradictory. For example, I would regard being told that PPI was compulsory as a VERY valid reason to complain. But I see here advice not to use that reason as it is "difficult to prove".
I've complained of mis-sell of PPI for five loans and the main reason I've put is that I was, at every stage, given the impression that the PPI would ensure the loan I was claiming for would be approved. One salesperson actually told me that my loan application would have definitely been refused if I hadn't accepted PPI.
I'm currently awaiting a response from HSBC bank on this, have I just ensured that my complaint won't be upheld? Or will the bank also see that I didn't need payment protection when my employer pays for sickness and would also pay for redundancy?
Sorry if I'm rambling, but I really do feel aggrieved that I've managed to allow myself to be conned into paying for a "protection" policy that I neither wanted, needed or asked for!

dilus

Moneyineptitude wrote: »

Hi Dilus! I'm reading this thread (as well as contributing), but some of the experienced replies appear a bit contradictory. For example, I would regard being told that PPI was compulsory as a VERY valid reason to complain. But I see here advice not to use that reason as it is "difficult to prove".
I've complained of mis-sell of PPI for five loans and the main reason I've put is that I was, at every stage, given the impression that the PPI would ensure the loan I was claiming for would be approved. One salesperson actually told me that my loan application would have definitely been refused if I hadn't accepted PPI.
I'm currently awaiting a response from HSBC bank on this, have I just ensured that my complaint won't be upheld? Or will the bank also see that I didn't need payment protection when my employer pays for sickness and would also pay for redundancy?
Sorry if I'm rambling, but I really do feel aggrieved that I've managed to allow myself to be conned into paying for a "protection" policy that I neither wanted, needed or asked for!

Hi moneyineptitude,
You are correct that being told that is a valid reason but it is your word against theirs and they could have recorded telephone calls or tick boxes on paperwork to back up their case, so if you are relying on this one reason it could be countered by the bank. Your other reasons (sick pay and redundancy) are just as valid and could be easily proved by you so are stronger. The fact that you didn't want it, need it or ask for it also back up your case. Don't worry too much, it's not your job to prove anything but anything you can prove strengthens your case. It's their case to disprove what you say, that is why it's important to be honest from the outset. Good luck, I'm hopeful you will get the right result

dilus

T4FF wrote: »

Thanks dilus, you've answered these questions around front loaded PPI on a previous loan. I'm trying to find the statements to prove it!!

Hi T4FF,
One way to check if you had PPI is to use the Loan Calculator on the following page

http://www.moneysavingexpert.com/loans/cheap-personal-loans#calc

If you know the amount you borrowed, the APR at the time and the loan term, feed them into this calculator and it will tell you how much you should have been paying. If you were paying more then you will almost certainly have had PPI

[Deleted User]

dilus wrote: »

Hi moneyineptitude,
You are correct that being told that is a valid reason but it is your word against theirs and they could have recorded telephone calls or tick boxes on paperwork to back up their case, so if you are relying on this one reason it could be countered by the bank. Your other reasons (sick pay and redundancy) are just as valid and could be easily proved by you so are stronger. The fact that you didn't want it, need it or ask for it also back up your case. Don't worry too much, it's not your job to prove anything but anything you can prove strengthens your case. It's their case to disprove what you say, that is why it's important to be honest from the outset. Good luck, I'm hopeful you will get the right result

Thanks for your kind response. I'm also led to believe that "front loaded" PPI is a virtually guaranteed reason for complaint. But I only saw this was the case after I had already sent in my initial complaint forms and I've made no mention of this despite the policies being obviously structured in this way. Again, have I ensured that the bank will simply ignore this and choose to only address what I have specifically complained about?

daveyadams

madness66 wrote: »

hi guys....hope someone can help with this... im looking into claiming my ppi back on a loan i had with Northern Rock. As this bank is no more who do i complain to.... as i only have a short window of time left, i would be gratefull of any thoughts...many thanks

The Liability was moved to NRAM (Northern Rock Asset Management) with all the "Bad" debt, not to Virgin.

NRAM Customer Relations
Prudhoe Building
Regent Centre
Gosforth
Newcastle Upon Tyne
NE3 4AW

http://www.n-ram.co.uk
customerrelations@n-ram.co.uk