Alliance & leicester ppi reclaim

crysta1010

I wrote to these in April after they sent me a letter about my loan insurance with them. We had paid this loan off just over 3 years ago and completely forgot about it.

The loan was for £5000 over 5 years and didn't request ppi but when the paperwork came through the post it was included so just signed it cos we needed the money asap. (ppi added on was about £1500). After about a year we upped the amount borrowed and the amount we owed was carried over onto the new loan agreement which didn't have ppi.

I have received my refund offer today for £80.00 and not sure if this is a good offer or not. I have thought about sending the letter asking for a copy of all paperwork.

Any advice on what I should do would be greatly appreciated.

maxdp

crysta1010 wrote: »

I wrote to these in April after they sent me a letter about my loan insurance with them. We had paid this loan off just over 3 years ago and completely forgot about it.

The loan was for £5000 over 5 years and didn't request ppi but when the paperwork came through the post it was included so just signed it cos we needed the money asap. (ppi added on was about £1500). After about a year we upped the amount borrowed and the amount we owed was carried over onto the new loan agreement which didn't have ppi.

I have received my refund offer today for £80.00 and not sure if this is a good offer or not. I have thought about sending the letter asking for a copy of all paperwork.

Any advice on what I should do would be greatly appreciated.

Hi There

That is an absolutely rubbish amount they are offering. Could you ask them to give you figures and ask how this was calculated then post it up on here. If they muck you about then say you will take it to the FOS.

di3004

crysta1010 wrote: »

I wrote to these in April after they sent me a letter about my loan insurance with them. We had paid this loan off just over 3 years ago and completely forgot about it.

The loan was for £5000 over 5 years and didn't request ppi but when the paperwork came through the post it was included so just signed it cos we needed the money asap. (ppi added on was about £1500). After about a year we upped the amount borrowed and the amount we owed was carried over onto the new loan agreement which didn't have ppi.

I have received my refund offer today for £80.00 and not sure if this is a good offer or not. I have thought about sending the letter asking for a copy of all paperwork.

Any advice on what I should do would be greatly appreciated.

Hi there

Personally I would not go for that offer.

Write back and ask if they can consider refunding a higher amount.

Was this just for the one or 2 loan ppi, or are you dealing with them separately?

If they added PPI on the 2 loans, I would also ask them to send you a full written breakdown of calulations from the first loan going into the loan advance, in case anything is owed on that as well.
I would go for the mis selling on the 2 of the policies.

If they don't higher the amount or refund you in full, you can always ask the Financial ombudsman service (FOS) to investigate this for you, however its entirely up to you.;)

Good luck.

crysta1010

I am going to write to them using the template letters from the website asking for all paperwork on the loan and if they will make me a different offer. It states on the letter to give them 14 days before taking the matter further. It's only another stamp so I might as well....

(the ppi was only on the original £5000)

thanks for your advice

di3004

crysta1010 wrote: »

I am going to write to them using the template letters from the website asking for all paperwork on the loan and if they will make me a different offer. It states on the letter to give them 14 days before taking the matter further. It's only another stamp so I might as well....

(the ppi was only on the original £5000)

thanks for your advice

Your doing the right thing here and the thing is they always seem to start on low offers, but that is a huge difference isn't it?

Yes do ask if they can higher the amount at least or refund you EVERY penny of the PPI, plus interest, as you paid this off it will probably be more than £5K you should receive back.

Good luck and please keep us posted, cheers.;)