PPI Reclaiming Discussion part 4

fbredenkamp

Hi and thanks for the reply,

This might be a dumb question, but if I don't have the account details of loans that were paid off and/or consolidated do I only need to send the £1 postal order and specify that I need all previous loan agreements I had with them? Or is it £1 per loan agreement?

Thanks in advance.

di3004

fbredenkamp wrote: »

Hi and thanks for the reply,

This might be a dumb question, but if I don't have the account details of loans that were paid off and/or consolidated do I only need to send the £1 postal order and specify that I need all previous loan agreements I had with them? Or is it £1 per loan agreement?

Thanks in advance.

Hi hun and no its not a dumb question, we have all been there.:D

Yes its best to sent the £1 postal order or cheque to request for the agreement, they must then comply and you should receive this by 12 days, make sure you mention in the letter, "I expect to receive the Agreement by 12 days of request".;)
Post by recorded delivery to ensure they have received this, you can check this on "tracking"on the Royal Mail website.

Good luck.

Only to add as well, make sure if the surname or address was different then, also write them in on the letter and your date of birth should help as well for them to track this down as well X

amersall

jayneybaby wrote: »

Hi Im new to these forums & was hoping for somw help. I took out a Firstplus loan, secured on my house & was sold a PPI & told that if I didn't make a claim my insurance money would be paid back to me after 5 years. Now I dont know whether to continue paying (I have another 3 years before the 5 years are up) or attempt to cancel this PPI. If I do cancel can I reclaim the insurance money already paid. I am very confused about this whole situation & and any help anyone could offer would be truely appreciated...

thank you

hi there, if you can claim mis sell go down that route, even if you cancel ppi you will still be payng ppi back for the remaining term of the loan ( even if you go for the whole five years and claim cash back you will still be paying ppi for the rest of the loan term) the ppi is put on at the start of the loan term in one lump sum and you pay this as i explained, if you go mis sell the ppi comes off your loan, your monthly payment goes down, and you get all ppi payments you have paid to date back to you if you win ,oh and 8% interest on top. please take this as far as you can, dont let them get away with this, i cancelled ppi with these and am still paying over 100 a month for ppi and have still got 12000 left of ppi still on my loan, you go for it and keep us posted, good luck

marshallka

jayneybaby wrote: »

Hi Im new to these forums & was hoping for somw help. I took out a Firstplus loan, secured on my house & was sold a PPI & told that if I didn't make a claim my insurance money would be paid back to me after 5 years. Now I dont know whether to continue paying (I have another 3 years before the 5 years are up) or attempt to cancel this PPI. If I do cancel can I reclaim the insurance money already paid. I am very confused about this whole situation & and any help anyone could offer would be truely appreciated...

thank you

Jayneybaby, this was just a sales tactic that they told you to get you to have the PPI in that you get it back after 5 years. Yeah right, you could do this if you have not made a claim on it BUT they do forget to tell you that as this is a SINGLE PREMIUM payment that only covers the loan for 5 years regardless of the loan being longer and you have to pay it back over the full term of the loan with interest. An example here

PPI amount on 20 year loan of £5000 (only covering 5 years)
Interest 8% per annum
Total of PPI with interest is £10,037.28
You get back your original £5000 after 5 years but you have had interest added onto this of £5037.28 so you have actually gained nothing and they have still made £5K out of you and you are NO LONGER insured either.

Also if you cancel the loan is redone and you would only get a small rebate against the whole cost of the £10,037.28 (which is just an example).

If you go for misselling here you would get the whole amount of the PPI back plus the interest that is added onto this too and also 8% statutory interest as you were actually deprived of this so yes, you would get back what you have paid to date and statutory interest and the rest is taken off the loan amount and the loan redone.

Good Luck

fackingspiders

di3004 wrote: »

Hi hun and no its not a dumb question, we have all been there.:D

Yes its best to sent the £1 postal order or cheque to request for the agreement, they must then comply and you should receive this by 12 days, make sure you mention in the letter, "I expect to receive the Agreement by 12 days of request".;)
Post by recorded delivery to ensure they have received this, you can check this on "tracking"on the Royal Mail website.

Good luck.

Only to add as well, make sure if the surname or address was different then, also write them in on the letter and your date of birth should help as well for them to track this down as well X

Hi,

I have got a couple of questions as I am not completely sure of what I have to do and where I stand. I really do apologise if these have been answered already, but after almost 2 hours of searching the whole forum my head is in a scramble!!!

Basically, I have taken 4 loans out from RBS since 16th May 2003. I had one before that (making 5 in total), but looking at my statements the one I took out on 16th May 2003 refinanced the previous one.

Therefore I have under 2 weeks to suss this out. I don't have ANY paperwork for ANY loan I took and cannot remember if I had any PPI or not, but have account numbers and dates paid into etc. As I understand it, because my original loan was active within the last 6 years, RBS should still have details on it. But on 16th May 2009, they can 'lose' it if they wish????

All loans have since been repaid and I have switched banks. Do I need to send £1 off for details of all loan agreements, or would it be £5 for them all? I have also read for completed loans that I should send an SAR letter off with £10, so would this be £50 for all 5 loan accounts?

And finally, what date would RBS use for my claim? Is it 6 years from when I ask for loan details or 6 years from when I log my claim. If I go down the SAR route, then they have 40 days (is that working days?) so would definitely miss the 16 May 2009 deadline, and if I go the other route of obtaining agreement details it is 12 days - again is this working days??

Apologies for this, but I have spent all day finding this information out and I have read many different versions of what to do I don't know if I'm coming or going!!!! Any help is greatly appreciated.

Thanks in advance,

Kev

amersall

fackingspiders wrote: »

Hi,

I have got a couple of questions as I am not completely sure of what I have to do and where I stand. I really do apologise if these have been answered already, but after almost 2 hours of searching the whole forum my head is in a scramble!!!

Basically, I have taken 4 loans out from RBS since 16th May 2003. I had one before that (making 5 in total), but looking at my statements the one I took out on 16th May 2003 refinanced the previous one.

Therefore I have under 2 weeks to suss this out. I don't have ANY paperwork for ANY loan I took and cannot remember if I had any PPI or not, but have account numbers and dates paid into etc. As I understand it, because my original loan was active within the last 6 years, RBS should still have details on it. But on 16th May 2009, they can 'lose' it if they wish????

All loans have since been repaid and I have switched banks. Do I need to send £1 off for details of all loan agreements, or would it be £5 for them all? I have also read for completed loans that I should send an SAR letter off with £10, so would this be £50 for all 5 loan accounts?

And finally, what date would RBS use for my claim? Is it 6 years from when I ask for loan details or 6 years from when I log my claim. If I go down the SAR route, then they have 40 days (is that working days?) so would definitely miss the 16 May 2009 deadline, and if I go the other route of obtaining agreement details it is 12 days - again is this working days??

Apologies for this, but I have spent all day finding this information out and I have read many different versions of what to do I don't know if I'm coming or going!!!! Any help is greatly appreciated.

Thanks in advance,

Kev

hi there, when di comes on she will put you right on this one,(she knows what she is talking about) you will have your answer soon

maxdp

fackingspiders wrote: »

Hi,

I have got a couple of questions as I am not completely sure of what I have to do and where I stand. I really do apologise if these have been answered already, but after almost 2 hours of searching the whole forum my head is in a scramble!!!

Basically, I have taken 4 loans out from RBS since 16th May 2003. I had one before that (making 5 in total), but looking at my statements the one I took out on 16th May 2003 refinanced the previous one.

Therefore I have under 2 weeks to suss this out. I don't have ANY paperwork for ANY loan I took and cannot remember if I had any PPI or not, but have account numbers and dates paid into etc. As I understand it, because my original loan was active within the last 6 years, RBS should still have details on it. But on 16th May 2009, they can 'lose' it if they wish????

All loans have since been repaid and I have switched banks. Do I need to send £1 off for details of all loan agreements, or would it be £5 for them all? I have also read for completed loans that I should send an SAR letter off with £10, so would this be £50 for all 5 loan accounts?

And finally, what date would RBS use for my claim? Is it 6 years from when I ask for loan details or 6 years from when I log my claim. If I go down the SAR route, then they have 40 days (is that working days?) so would definitely miss the 16 May 2009 deadline, and if I go the other route of obtaining agreement details it is 12 days - again is this working days??

Apologies for this, but I have spent all day finding this information out and I have read many different versions of what to do I don't know if I'm coming or going!!!! Any help is greatly appreciated.

Thanks in advance,

Kev

Hi

May I suggest you just ring them this weekend and ask them the details of the LOANS e.g. PPI status.

£1 per agreement

£10.00 SAR for all Loans with the same lender

6 years from when the account was active is a general rule of thumb.

40 days not working days ssame with the 12 days.

I would suggest after ringing this weekend send your SAR off by recorded delivery then you have lodged your complaint and they will have to respond.

Good Luck

di3004

fackingspiders wrote: »

Hi,

I have got a couple of questions as I am not completely sure of what I have to do and where I stand. I really do apologise if these have been answered already, but after almost 2 hours of searching the whole forum my head is in a scramble!!!

Basically, I have taken 4 loans out from RBS since 16th May 2003. I had one before that (making 5 in total), but looking at my statements the one I took out on 16th May 2003 refinanced the previous one.

Therefore I have under 2 weeks to suss this out. I don't have ANY paperwork for ANY loan I took and cannot remember if I had any PPI or not, but have account numbers and dates paid into etc. As I understand it, because my original loan was active within the last 6 years, RBS should still have details on it. But on 16th May 2009, they can 'lose' it if they wish????

All loans have since been repaid and I have switched banks. Do I need to send £1 off for details of all loan agreements, or would it be £5 for them all? I have also read for completed loans that I should send an SAR letter off with £10, so would this be £50 for all 5 loan accounts?

And finally, what date would RBS use for my claim? Is it 6 years from when I ask for loan details or 6 years from when I log my claim. If I go down the SAR route, then they have 40 days (is that working days?) so would definitely miss the 16 May 2009 deadline, and if I go the other route of obtaining agreement details it is 12 days - again is this working days??

Apologies for this, but I have spent all day finding this information out and I have read many different versions of what to do I don't know if I'm coming or going!!!! Any help is greatly appreciated.

Thanks in advance,

Kev

Hi Kev

Yes try to request for the agreements.

For every loan, there should be a new agreement, so that would be a £1 on each request.
This one is 12 straight days as from request.


The SAR is 40 straight days, again forget about the working days.

Remember to post by recorded delivery to ensure your letters arrive at their destination, you can check this out on "Tracking" on the Royal mail website.

The agreements will disclose if PPI were taken out.

The SAR they should go back as far as 6 years, yet some have been lucky in receiving info going back even earlier.
The SAR may come in handy later on, but just request for the agreements for now and check them when you receive them.
SAR thread here with details:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

You will note there is a charge of £10 for the SAR request.

Any problems, please let us know.
If for some reason they do not supply these for you, they should inform you and return your payments, good luck.;)

fbredenkamp

di3004 wrote: »

Hi hun and no its not a dumb question, we have all been there.:D

Yes its best to sent the £1 postal order or cheque to request for the agreement, they must then comply and you should receive this by 12 days, make sure you mention in the letter, "I expect to receive the Agreement by 12 days of request".;)
Post by recorded delivery to ensure they have received this, you can check this on "tracking"on the Royal Mail website.

Good luck.

Only to add as well, make sure if the surname or address was different then, also write them in on the letter and your date of birth should help as well for them to track this down as well X

Thanks,

So, just to make sure, if I can't remember the loan account numbers I should use the Letter Template: Paperwork Request found in this section and state that I can't remember my account numbers but I need all paperwork associated with loans taken out under my name with all previous addresses. I think there were 4 loans in total, so I send a cheque of £4 and state they should supply by 12 days.

Is this about right?

Sorry about all the questions, flying blind at the moment

fackingspiders

maxdp wrote: »

Hi

May I suggest you just ring them this weekend and ask them the details of the LOANS e.g. PPI status.

£1 per agreement

£10.00 SAR for all Loans with the same lender

6 years from when the account was active is a general rule of thumb.

40 days not working days ssame with the 12 days.

I would suggest after ringing this weekend send your SAR off by recorded delivery then you have lodged your complaint and they will have to respond.

Good Luck

Hi again,

I have seen the 'Paperwork Request' template but that has blank spaces for account number(s) which I don't know and states that a reply is expected within 40 days, and not the 12 as quoted above. Is that the one to use, and if so should I amend 40 ays to 12, and omit my account number?

Just one more twist (nothing is ever straightforward with me!!), I have moved house since I had the loans. Should I provide the address that I was at when I took the loans out somewhere on the letter as there could be numerous people with the same name as me applying???

Thanks again

Kev