PPI Reclaiming Discussion part 4

di3004

dwales wrote: »

Hello Jacseb. I too am currently in communication with RBS about an old Natwest ppi loan that they missold to my parents some 5years ago. Although in my case Natwest sold the ppi on top of a joint loan application, we have now discovered that the ppi only actually covered my late father. This was clearly not as my mother believed and given that she was made redundant part way through the loan and she was considering making a claim, just before finding further employment and not needing too,substanciates that believe. The local Natwest branch was useless and after writing to head office, we have now received a "without predjudice" offer of £750!!!!. Is this Natwest standard first offer? The cost of the ppi loan was £1,229 although my parents did actually want the protection, they were left in no doubt that they were BOTH covered, when they clearly were not. Should we ask for the lot back with interest or cut our losses? Any advice?

Hi there dwales

I think that offer is too low, and not to forget the extra in interest on top of £1,229, more is owed.

That is a standard offer of goodwill, if that were me I would write back and tell them you want ALL the PPI and the interest, also the 8% interest of what a court would award.

Sorry to hear of your dad as well.X
And of course this did not cover your mum and if she were to make a claim the chances of being successful would probably been good, so the full whack plus the interest is what she should be receiving back in my opinion.

I would explain that on the letter, as this is worthless to you mum, she should not really be paying on something that is worthless to her and cannot claim on.
If they do not resolve this for you, you can always ask the Financial ombudsman (FOS) to investigate this for you, where I almost certain they will see this in your mums favour.

Good luck and please let us know how she gets on, cheers.;)

gadgets_2

Hi there.

I must have been living in a cocoon or something as I hadnt heard anything about this situation untill my wife read about it in a newspaper.

I was wondering what the current situation is with Blackhorse and Capital One. These are two companies who we are thinking about getting in touch with regarding PPI. We have had a captial one credit card and blackhorse loan since 2004 and I am unsure what to do. I have tried reading through some of the pages but i am just getting confused.

Any help is appreciated.

marshallka

gadgets wrote: »

Hi there.

I must have been living in a cocoon or something as I hadnt heard anything about this situation untill my wife read about it in a newspaper.

I was wondering what the current situation is with Blackhorse and Capital One. These are two companies who we are thinking about getting in touch with regarding PPI. We have had a captial one credit card and blackhorse loan since 2004 and I am unsure what to do. I have tried reading through some of the pages but i am just getting confused.

Any help is appreciated.

If you were missold then get in touch now. As regards Black horse i know there are problems with people being able to take these complaint to the FOS (depending on the date of sales) and from what I see on this site they are not the easiest to deal with but I would still go ahead. WIth Capital one you can still make a complaint to these the same as with PPI on loans but just adjust the template letter to suit this. In fact i would always try and do your own letter with ideas from the templates on here as everyones reasons are different although we are complaining about the same things.

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

There is a guide above to reclaiming and if you do write letters make sure you send them recorded delivery and you then give the firm 8 weeks for a full and final response.

Good Luck

di3004

gadgets wrote: »

Hi there.

I must have been living in a cocoon or something as I hadnt heard anything about this situation untill my wife read about it in a newspaper.

I was wondering what the current situation is with Blackhorse and Capital One. These are two companies who we are thinking about getting in touch with regarding PPI. We have had a captial one credit card and blackhorse loan since 2004 and I am unsure what to do. I have tried reading through some of the pages but i am just getting confused.

Any help is appreciated.

Hi there

I agree with Marshallka, give it a go, for all the ones you think you have been mis sold on.
Use the template as a guide on the link posted above, but try to use your own words if you can with obviously your own reasons.


They have 8 weeks to respond in full, keep at them until you received the final decision, if they do not resolve this for you like Marshallka also said the FOS may take a look at these for you, good luck.;)

Oops sorry Marshallka, you already posted the link, so I just deleted it on here lol. X

dwales

Thank you Di3004 for your speedy response. I had read several other posts before submitting mine and you are clearly in the know. I shall write the response post haste as you advise.
Is there any point in speaking directly with the individual at RBS who I have spoken to briefly prior to the offer being made to clarify some points?

di3004

dwales wrote: »

Thank you Di3004 for your speedy response. I had read several other posts before submitting mine and you are clearly in the know. I shall write the response post haste as you advise.
Is there any point in speaking directly with the individual at RBS who I have spoken to briefly prior to the offer being made to clarify some points?

Your very welcome dwales.;)

There is no harm in speaking direct to them about it, but its always suggested as well to keep everything in writing.
Good luck.;)

marshallka

dwales wrote: »

Hello Jacseb. I too am currently in communication with RBS about an old Natwest ppi loan that they missold to my parents some 5years ago. Although in my case Natwest sold the ppi on top of a joint loan application, we have now discovered that the ppi only actually covered my late father. This was clearly not as my mother believed and given that she was made redundant part way through the loan and she was considering making a claim, just before finding further employment and not needing too,substanciates that believe. The local Natwest branch was useless and after writing to head office, we have now received a "without predjudice" offer of £750!!!!. Is this Natwest standard first offer? The cost of the ppi loan was £1,229 although my parents did actually want the protection, they were left in no doubt that they were BOTH covered, when they clearly were not. Should we ask for the lot back with interest or cut our losses? Any advice?

Is that £1229 PPI with or without interest? I would not accept this as they have offered something and would not do that for nothing. You will be OK to go to the FOS too with it being a bank so it is up to you (or your parents!!) but I think its just a quick try it on in the hope that you will accept and you are actually due back far more.

Also regards your post of ringing them, I would always keep everything in writing as they can twist things to their advantage on the phone. Perhaps just write back and say you are now going to take this to the FOS if they do not put you (your parents) back into the position as if you never had the PPI as your understanding of the policy was that both were insured. This is also unfair in that BOTH are liable for the "loan" of the PPI but only one is covered.

Good luck

ThePsychicBunny

Hi,

Quick question.

I filled in the Ombudsman form, and sent it off. Felt it was necessary as my loan company fobbed my off with silly payback schemes which were just not viable, they also said it was their final response.

So I'm wondering what will happen next? Also what time scale?

Thank you.

di3004

ThePsychicBunny wrote: »

Hi,

Quick question.

I filled in the Ombudsman form, and sent it off. Felt it was necessary as my loan company fobbed my off with silly payback schemes which were just not viable, they also said it was their final response.

So I'm wondering what will happen next? Also what time scale?

Thank you.

Hi there

It can vary when you hear, normally about 2-3 weeks before they confirm they have received the form.

The waiting part to be passed on to the adjudicator may take some time, but as soon as they have hold of yours and the other party's details, they aim for approx 6 weeks, sometimes longer if more time is requested, hopefully though it will be sooner.

However, if the adjudicator agrees to uphold your case and the other party does not, its normally moved on to the ombudsman himself, again this can take some time, but can vary.

If your in financial hardship though do let them know of this with your reasons and request for fast tracking, they may consider this for you.

Good luck.;)

showergirl

My friend has rang A and L this morning and they have told her that she should receive a response from them by the beginning of next week.

They would not tell her anything over the phone.

Lets hope it is good news