co operative bank ppi reclaim

blueboy1

hi,can anyone give me any advice,i am trying to relaim ppi sold to me on previous loans with the above bank,these loans were taken out in 2002 and 2003,the bank have wrote back to me saying they will not refund any premiums to me because they have already made reasonable refunds when the loans were cleared! what refunds the bank gave me i do not know,they arnt very clear on that one and havnt gone into much detail either,any advice would be very welcome,i am about to write to the ombudsman to take the matter further.

marshallka

blueboy1 wrote: »

hi,can anyone give me any advice,i am trying to relaim ppi sold to me on previous loans with the above bank,these loans were taken out in 2002 and 2003,the bank have wrote back to me saying they will not refund any premiums to me because they have already made reasonable refunds when the loans were cleared! what refunds the bank gave me i do not know,they arnt very clear on that one and havnt gone into much detail either,any advice would be very welcome,i am about to write to the ombudsman to take the matter further.

If you settled the loans early they would have given you a rebate against the insurance. I had early loans with co-op and this is what they used to do. I would also say that they actually use the rule of 78 to calculate early settlements and ppi refunds but they do make rebates against the insurance which most don't.

I would still pursue if you genuingly feel you were missold these to get all the amounts back and put you back in the position as if you never had the PPI and if they refuse to play ball then you are free to take this complaint to the FOS. You first need a final response so if this letter is actually their final you can take it straight to FOS but if they have given you the chance to write back then get another letter in with your reasons and wait for their reply.

Good luck