Has anyone tried to reclaim ppi from Clydesdale?

eden1969

We currently have a loan with Clydesdale bank. When the loan was taken out almost 2 years ago a ppi was on it. When we got home and really looked at the paperwork we were surprised to find out how much this insurance was really costing so we phoned and tried to change this numerous times and went down to the bank. TO no avail the 30 day period passed and we continue to pay this loan. When asked about it we are told me would have to take out a new loan in order to get rid of the rest of the ppi. We got annoyed and went to another bank of which we were unsuccessful with the loan. So we went back to clydesdale and the consultant basically told us we probablywouldn;t get the loan. so we gave up til now.

Recently we were told we could make a claim with the bank and get around 2500 back if we were missold the ppi but in order to get the rest of the amount we would have to reapply for a new loan.

Can banks still do this?

di3004

eden1969 wrote: »

We currently have a loan with Clydesdale bank. When the loan was taken out almost 2 years ago a ppi was on it. When we got home and really looked at the paperwork we were surprised to find out how much this insurance was really costing so we phoned and tried to change this numerous times and went down to the bank. TO no avail the 30 day period passed and we continue to pay this loan. When asked about it we are told me would have to take out a new loan in order to get rid of the rest of the ppi. We got annoyed and went to another bank of which we were unsuccessful with the loan. So we went back to clydesdale and the consultant basically told us we probablywouldn;t get the loan. so we gave up til now.

Recently we were told we could make a claim with the bank and get around 2500 back if we were missold the ppi but in order to get the rest of the amount we would have to reapply for a new loan.

Can banks still do this?

Hi there

If you check the success thread above you may come across some success with this company.;)

However, you have a case here, and every company varies in how they deal with their procedures, some do have to take out a new loan without the PPI if you cancel on the existing one.

But if they admit this was mis sold, they should aim to put you back right as if you did not take out the PPI, plus interest etc, they refund them what you paid in and the interest.

I would write to them to complain with your reasons and check the link I will add below for any other reasons which may also occur to you, they have 8 weeks to respond in full and even though there is also a letter reclaim template on the link, if you can try to use your own words.
Post by recorded delivery.

Another letter maybe required if not successful first time round, or until you exhaust their complaint procedures, they will let you know this in their final response, and also details of the financial ombudsman service with their leaflet enclosed.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck, please let us know how you get on in case you require any further help.;)

eden1969

THanks for your help I figured it was best to go through here and not to their complaints department because everytime we went through the bank directly we failed.. thanks will try..

smitchy73

HI there,
My wife and I had two loans with Clydesdale and we tried to claim but they fobbed us off, although after recent news stories about the number of complaints upheld by the FOS we are going at them again.
They also wrote to us after the eight weeks and told us they were still going through the paperwork and would need another few weeks, just delaying tactics if you ask me.
Keep at them, and good luck.