PPI Reclaiming Discussion part 4

JohnR1

Thanks for your advice Di.

My loan was taken in 2004 for a 3 year period in Scotland and I definately had a PPI - I believe missold to me. After contacting my local RBS branch with a stage one letter from the main MSE website. My branch manager called and said he could not find any details relating to my loan hence for the Subject Access Request sent to their head office. I now although have an account number and sort code which should aid my casue.

Will try your advice and keep you posted.

Kind Regards,

John

di3004

JohnR1 wrote: »

Thanks for your advice Di.

My loan was taken in 2004 for a 3 year period in Scotland and I definately had a PPI - I believe missold to me. After contacting my local RBS branch with a stage one letter from the main MSE website. My branch manager called and said he could not find any details relating to my loan hence for the Subject Access Request sent to their head office. I now although have an account number and sort code which should aid my casue.

Will try your advice and keep you posted.

Kind Regards,

John

Hi John

your very welcome.;)

I would also contact the financial ombudsman service as well and ask is there any way they can write to the business on your behalf, also explain the problems your having with these right now in regards of your data.

Well worth contacting the FOS.;)
http://www.financial-ombudsman.org.uk/contact/index.html

Good luck.

Di

Butterscotch

Hiya

I'm currently waiting for an ajudicator at the Ombudsman to look at my case as Natwest misold me my PPI. I've gone through all the right channels and now it's in the final stages of waiting to see what the Ombudsman's decision will be. I've been told that there is a huge backlog though and it is likely to be a few months before an ajudicator is free.

However, I am now in a position to pay off my loan in full and I know it'll be stupid to do this while I am trying to reclaim my PPI.

So what I wanted to do, was send an offer letter to Natwest, offering a full and final settlement of the loan which will basically be what I owe minus the PPI insurance they added on at the start of the loan.

This means I can be debt free, and if they accept the settlement amount then the PPI will effectively be cancelled anyway.

My question is, does anyone have a template of the letter I should send offering full and final settlement, maybe also including the fact that they misold me the PPI and the matter is in the hands of the FSO? All the letters I've seen are offering full and final settlement because they cannot afford to pay back the debt and this is not the case with me. My offer wouldn't be unfair either, it'll simply be the remainder of my loan, approx £10k, which is what is remaining after the misold PPI is deducted.

Thanks, Butterscotch

marshallka

Butterscotch wrote: »

Hiya

I'm currently waiting for an ajudicator at the Ombudsman to look at my case as Natwest misold me my PPI. I've gone through all the right channels and now it's in the final stages of waiting to see what the Ombudsman's decision will be. I've been told that there is a huge backlog though and it is likely to be a few months before an ajudicator is free.

However, I am now in a position to pay off my loan in full and I know it'll be stupid to do this while I am trying to reclaim my PPI.

So what I wanted to do, was send an offer letter to Natwest, offering a full and final settlement of the loan which will basically be what I owe minus the PPI insurance they added on at the start of the loan.

This means I can be debt free, and if they accept the settlement amount then the PPI will effectively be cancelled anyway.

My question is, does anyone have a template of the letter I should send offering full and final settlement, maybe also including the fact that they misold me the PPI and the matter is in the hands of the FSO? All the letters I've seen are offering full and final settlement because they cannot afford to pay back the debt and this is not the case with me. My offer wouldn't be unfair either, it'll simply be the remainder of my loan, approx £10k, which is what is remaining after the misold PPI is deducted.

Thanks, Butterscotch

I think you would have to pay it all for now (including the PPI) as you have not in effect "won" the misselling yet. I would confirm this with the Ombudsman but I am sure it is right. If you do later win your missell complaint it would all come back to you then. Also if its only been with the Ombudsman for a short length of time, they are taking between 12 and 18 months to look into these complaints.

gil8967

Hi there, Received a questionaire from the Clydesdale Bank regarding my claim. Should I give as much info as possible on this, as it claims to help them to decide on my claim? Anyone?

Butterscotch

marshallka wrote: »

I think you would have to pay it all for now (including the PPI) as you have not in effect "won" the misselling yet. I would confirm this with the Ombudsman but I am sure it is right. If you do later win your missell complaint it would all come back to you then. Also if its only been with the Ombudsman for a short length of time, they are taking between 12 and 18 months to look into these complaints.

Thanks for your reply. I was just going to offer them a settlement amount though, regardless of the PPI insurance claim. That was the letter I wanted. Every template I've looked at offers a settlement figure because they can't pay back the full debt but I can. I can't say in the letter I am unable to make repayments to them anymore because it is clear from my incomings and outgoings that I can afford to pay them.
Thanks.

di3004

gil8967 wrote: »

Hi there, Received a questionaire from the Clydesdale Bank regarding my claim. Should I give as much info as possible on this, as it claims to help them to decide on my claim? Anyone?

Hi there

Did they just automatically send this out to you, or did you send the letter first, I can't remember?

In regards of the questionaire, if they no longer hold your details, they may require this to help them with your complaint to investigate.
However if you sent the letter, you can also tell them to refer to that and if this was sold to you within the last 5/6 years, they should still hold your details, so tell them to refer to them if you want to, they must still investigate by 8 weeks.

Many believe they do this as a stalling tactic, but if you want to just complete it to the best of your knowledge, and the ones you can't remember just write refer to your details they hold on you or your letter you sent dated XX/XX/XXXX.

Hope this helps, good luck.

gil8967

Thanks for that Di3004, I received the letter exactly 1 week after I sent my first letter. They do still have all the info as they have sent me my application form with statements. They said in the letter that I should hear "as soon as we can but certainly in the next four weeks". So I will hold them to that. I'm just going to fill in everything I can and tell them to refer to my letter for my reasons for being mis-sold. :AThanks again, Gill

BGJAM

black horse
hi we have had two accounts with black horse we have sucessfully claimed against one account for mis-selling just waiting for cheque. we have received a letter from them regarding second account stating that because its pre 2005 we cant take it to ombudsmen so tough basically they have actually enclosed a demands and needs questionaire and statement which is actually for another customer. not sure what to do now? anyone help? thanks!

pinknico

BGJAM, call the FOS and tell them about about the second account and the demands and needs statement which isnt yours and they will advise.
But I know they are trying to help even if loans are pre 2005 and weren't regulated.