PPI Reclaiming Discussion part 4

mbcomper

Hi,

I have recently gone through the procedure on MSE to reclaim PPI on 2 loans for a friend.

I sent off a SAR to Natwest 05/11/09, and still haven't received a response. I have since sent them another letter 20/1/10 threatening them with court action if the SAR is not received within 7 days.

However, in the meantime Natwest/RBS Group have written with ref to both loans, the 1st loan was cancelled early by Natwest and a New loan was opened to accomodate old debt plus new borrowing, this is still being paid by my friend until Dec 2011.

Natwest has said they cannot confirm the 1st loan was missold but as a gesture of goodwill they will refund the PPI and any interest paid.

Similar story for the second and current loan. Natwest have not admitted liability but as a gesture of goodwill they will refund the PPI and any interest paid. They have also cancelled the PPI for any future payments.

The question is I do not know how to clarify if what they are offering my friend is correct because I do not have the original documentation for my 1st loan and they have not given me any proper breakdown as to how they have come to their calculations with either offer. How can I check without having receipt of the SAR?

I contacted the FOS today, who have given 2 x case ref numbers, is it worth me contacting Natwest/RBS Group to see what they are playing at, I'm really unsure and do not want to jeopardise the offer, but still don't trust them non the less.

Any help would be greatly appreciated. BTW I only used 1 template letter from MSE and a few harried phone calls to the local branch to get things moving.

I await a reply - Thanks in advance!

di3004

mbcomper wrote: »

Hi,

I have recently gone through the procedure on MSE to reclaim PPI on 2 loans for a friend.

I sent off a SAR to Natwest 05/11/09, and still haven't received a response. I have since sent them another letter 20/1/10 threatening them with court action if the SAR is not received within 7 days.

However, in the meantime Natwest/RBS Group have written with ref to both loans, the 1st loan was cancelled early by Natwest and a New loan was opened to accomodate old debt plus new borrowing, this is still being paid by my friend until Dec 2011.

Natwest has said they cannot confirm the 1st loan was missold but as a gesture of goodwill they will refund the PPI and any interest paid.

Similar story for the second and current loan. Natwest have not admitted liability but as a gesture of goodwill they will refund the PPI and any interest paid. They have also cancelled the PPI for any future payments.

The question is I do not know how to clarify if what they are offering my friend is correct because I do not have the original documentation for my 1st loan and they have not given me any proper breakdown as to how they have come to their calculations with either offer. How can I check without having receipt of the SAR?

I contacted the FOS today, who have given 2 x case ref numbers, is it worth me contacting Natwest/RBS Group to see what they are playing at, I'm really unsure and do not want to jeopardise the offer, but still don't trust them non the less.

Any help would be greatly appreciated. BTW I only used 1 template letter from MSE and a few harried phone calls to the local branch to get things moving.

I await a reply - Thanks in advance!

Hi there

In regards of the SAR, do you know if they have debited the payment for this, if by cheque out of the bank account?

I would contact the Information Commissioners Office (ICO) for some advice on this as well in regards of the SAR data, they may offer to help on your behalf to contact them or chase them up for you.
https://www.ico.gov.uk/Global/contact_us.aspx

Is there anyway at all you can write or contact them to request for a figure at all?
I hate it when that happens where there is no figures shown, how on earth can they expect people to accept, where they cannot see a figure to consider this!!!

You can if you want to just give a quick general call to find out an update on both Natwest/RBS group, this should do no harm.

Hopefully others here will post up as well with some advice and their opinions for you, good luck.;)

laalaa41

Question......A rather imperious FOS person told me (last year) that I would never be given the refund back unless there was some left over after Egg paid off any outstanding amount in the credit card account (one I cant use because I was one of those they cancelled). Except here I read that they only take (what is actually YOUR money) if you have or have had arrears - which I havent. Id rather prefer to use the money for a loan due to finish which would save me a considerable amount of money each month. I guess Ill find out when they deign to contact me.

paulthedude34

hi all after winning 1 case bout missold ppi i sent the other 2 cases to the obdusman and have won them 2 but still after 4 months of waiting still not been paid out 4 the 1st win how long does it take as could really do with the money thanks Paul

di3004

paulthedude34 wrote: »

hi all after winning 1 case bout missold ppi i sent the other 2 cases to the obdusman and have won them 2 but still after 4 months of waiting still not been paid out 4 the 1st win how long does it take as could really do with the money thanks Paul

Hi there Paul and well done.:beer:

If they were resolved by the FOS, contact them, they will on your behalf chase them up for you.
Even though the files closes they will at least try to get an update for you.

Otherwise write to the loan companies and tell them you believe they've had ample time, and mention you will as well have to contact the FSA as they have not complied, give them about 14 days in writing.

Good luck, please keep us posted.;)

stu7676

Hi all,

I have recently had a succesfull claim against HFC bank. They made me an offer of 2k. I signed the agreement form and returned it but noticed there was a conspicuous lack of any information as to when these funds would be paid into my account. In general how long have people waited? And do they have a legal obligation to do it within a certain period of time?

thanks

marshallka

stu7676 wrote: »

Hi all,

I have recently had a succesfull claim against HFC bank. They made me an offer of 2k. I signed the agreement form and returned it but noticed there was a conspicuous lack of any information as to when these funds would be paid into my account. In general how long have people waited? And do they have a legal obligation to do it within a certain period of time?

thanks

Hi, if won with FOS then FOS usually gives them about 4 weeks and then perhaps a nudge in the right place. Some are posting waiting longer now with the banks being busy at the moment with reclaiming but I would perhaps get back to them if nothing has happened within the 4 weeks. Well done on winning.;)

pepe2008

Posting for a friend here. Lloyds Loan front loaded with, approx, £5400 ppi....and Self-Employed!
Loan has been 'transferred, to Central Debt Collections. When transferred a pro-rata adjustment was made to the outstanding amount to cover unused ppi, about £3600.
Claim enetered and LTSB replied that Claim not upheld but they would make a reduction of £900 to the debt.

I would advise refusal and claiming back full amount of the remainder plus interest. Yes?

Also if the Debt was Assigned to a DCA ( bought by them ) should the refund of the PPI that had actually been PAID by the Customer be paid directly back to them and NOT to the Debt Collector?

di3004

pepe2008 wrote: »

Posting for a friend here. Lloyds Loan front loaded with, approx, £5400 ppi....and Self-Employed!
Loan has been 'transferred, to Central Debt Collections. When transferred a pro-rata adjustment was made to the outstanding amount to cover unused ppi, about £3600.
Claim enetered and LTSB replied that Claim not upheld but they would make a reduction of £900 to the debt.

I would advise refusal and claiming back full amount of the remainder plus interest. Yes?

Also if the Debt was Assigned to a DCA ( bought by them ) should the refund of the PPI that had actually been PAID by the Customer be paid directly back to them and NOT to the Debt Collector?

Hi there

As there is a big difference in the amount of PPI and the offer I would personally feel the same, and if that was not the final decision, write back and tell them your not happy with the amount and request they look at the complaint again to accept liability of mis selling, in this case they should then refund the full amount of PPI, interest, also 8% interest of what a court would award for being deprived of the money.

Or at least ask them for more of a reasonable amount to consider.

Unfortunately, in these cases if in arrears they do tend to refund towards the debt and anything remaining should be refunded directly back to you, but this can vary.

The annoying thing about it is, its the PPI side of things and where we have been deprived of our money in the first place, which have added onto the debt, (not helped by being mis sold at all), I believe just as long as set arrangements have been put in place for the debt, you can try to argue that the PPI was mis sold and you believe it should be back in your pocket.
Otherwise its just like repaying them the PPI again, that's the way I suppose some can look at this, but unfortunately this does seem the way some banks work.

If they do this and your not (your friend) is not happy with the way they dealt with it, then you can still complain to the FOS, and see what they have to say.

Good luck with this.;)

pepe2008

Thanks di3004. Have told her to send Martins Reclaim PPI letter No2 and claim the difference between the amount refunded direct to the Loan when passed to the DCA and the Original Premium and add 8%pa interest and have it paid directly to herself as it would be a refund against cash actually paid out.
Also asked that she clarify the Assignment of the Debt. Thanks again:T