Santander PPI Reclaim

RichieScouse86

Hi All,

After much deliberation I have finally took the plunge and started the reclaim process and thought I would document the case throughout so that it could be used a reference for those doing the same to Santander (AKA Abbey)

Right, well I took out a loan in 2005 for around £500 then paid that off in 2006 and directly took out another as result in 2006 for £2000 which has been paid fro around 2-3 years now.

Here's how much I paid for both:

£3000 loan:
£4997 with interest and £1763.52 PPI and PPI interest=£6761

£2000 loan:
£2461 with interest and £373 PPI and PPI interest=£2834

This is how much I'am owed:
PPI Paid=£531.68@22.9% interest
8% compensation=£42.53
£574.21

PPI Paid=2702@14.9%
8%=£216
£2918

Giving me a grand total of £3492.21

Now I find this an amazing opportunity to hassle the banks like they hassled me for so many years with no sympathy or understanding of circumstances whatsoever, so its time to get my own back, I raised the case with Santander on the 10th November 2011 and have rang at 10.30am each and every single day since, asking for an update to which to be fair, they always comply with.

On the 11th (the day after I sent my 2 envelopes containing each loan agreement with original paperwork) I received a phonecall from a Santander rep saying they had received my paperwork (for only one of the loans so the other must of been on its way) and they would like me to confirm if I would still like to pursue the claim to which...surprisingly I said YES!!,

He said that Santander will uphold that I had indeed been conned into buying PPI and my case was with a case handler who would calculate the amount owed and would put an offer on the table for me (I then asked if I could fax my paperwork for the 'missing' other claim I had submitted the same time in the same post, they agreed and gave me the fax number of the Milton Keynes PPI complaints team 01908 343 415, they confirmed they had received it within minutes)

I am now just under 2 weeks into my claim and the claim is still with the case handler who will contact me once everything has been looked into.

Once I hear or receive anything else then I'll post it up...just think this post could help those confused about what to do, Once your paperwork has been completed and sent (takes about half an hour but is pretty easy), I got lucky in regards to already having or keeping my original documents as alot of the waiting comes from the cheque you normally have to send to the archives team for Santander to look into sending you your loan agreements etc.

Just playing the waiting game really though now..........to be continued.

di3004

RichieScouse86 wrote: »

Hi All,

After much deliberation I have finally took the plunge and started the reclaim process and thought I would document the case throughout so that it could be used a reference for those doing the same to Santander (AKA Abbey)

Right, well I took out a loan in 2005 for around £500 then paid that off in 2006 and directly took out another as result in 2006 for £2000 which has been paid fro around 2-3 years now.

Here's how much I paid for both:

£3000 loan:
£4997 with interest and £1763.52 PPI and PPI interest=£6761

£2000 loan:
£2461 with interest and £373 PPI and PPI interest=£2834

This is how much I'am owed:
PPI Paid=£531.68@22.9% interest
8% compensation=£42.53
£574.21

PPI Paid=2702@14.9%
8%=£216
£2918

Giving me a grand total of £3492.21

Now I find this an amazing opportunity to hassle the banks like they hassled me for so many years with no sympathy or understanding of circumstances whatsoever, so its time to get my own back, I raised the case with Santander on the 10th November 2011 and have rang at 10.30am each and every single day since, asking for an update to which to be fair, they always comply with.

On the 11th (the day after I sent my 2 envelopes containing each loan agreement with original paperwork) I received a phonecall from a Santander rep saying they had received my paperwork (for only one of the loans so the other must of been on its way) and they would like me to confirm if I would still like to pursue the claim to which...surprisingly I said YES!!,

He said that Santander will uphold that I had indeed been conned into buying PPI and my case was with a case handler who would calculate the amount owed and would put an offer on the table for me (I then asked if I could fax my paperwork for the 'missing' other claim I had submitted the same time in the same post, they agreed and gave me the fax number of the Milton Keynes PPI complaints team 01908 343 415, they confirmed they had received it within minutes)

I am now just under 2 weeks into my claim and the claim is still with the case handler who will contact me once everything has been looked into.

Once I hear or receive anything else then I'll post it up...just think this post could help those confused about what to do, Once your paperwork has been completed and sent (takes about half an hour but is pretty easy), I got lucky in regards to already having or keeping my original documents as alot of the waiting comes from the cheque you normally have to send to the archives team for Santander to look into sending you your loan agreements etc.

Just playing the waiting game really though now..........to be continued.

Good for you!:T
And the best of luck.;)

RichieScouse86

Thank you di3004 :^ )

RichieScouse86

24th November 2011 @ 11.39am:
Contacted Santander and got through to the rep that I faxed my other loan agreement to (the one they didn't receive) an he instantly said 'I've dealt with you before haven't I?'

I asked for an update and Bob told me that a team called 'Data Gathering' had requested archived information, in other words they were checking all the stuff I sent them collates with their records to check that they are legitimate.

He then told me that he could see this getting resolved in the next 10 days so give them a ring back then....roll on 10 days!

31 days until christmas................

paid_too_much

congrats on your win, I'm waiting for a 2nd response from a Santander CC, funny how they managed to reject it within a few days, I'm hoping that this longer wait to my rejection of their rejection means there is good news on the way.

Good luck

amersall

Just to let you know,the ppi monthly payment on a loan includes the interest at the rate applicable to the loan.
Unless you have made 2 seperate payments each month,one the ppi monthly amount and one for the interest.

RichieScouse86

25th November 2011 @ 9.55am
Contacted them again this morning to be told that it was currently being handled and archives had requested an account summary which breaks down all the payments I've ever paid for the loan, once they receive that an estimate will be calculated and sent over to me via post which which will have Santander's compensation offer on, I then would need to look at the offer and sign the back signature strip and they will get the payment over to me.

I'am not holding my breath as I've heard Santander tend to undercut people considerably with what they are owed but do inkeep with the 8% compensation rule.

Paid-to-much, coming from someone so successful with this stuff I find your words humbling.Thanks!
Amerall, thank you for the advice :^)

paid_too_much

RichieScouse86 wrote: »

25th November 2011 @ 9.55am
Contacted them again this morning to be told that it was currently being handled and archives had requested an account summary which breaks down all the payments I've ever paid for the loan, once they receive that an estimate will be calculated and sent over to me via post which which will have Santander's compensation offer on, I then would need to look at the offer and sign the back signature strip and they will get the payment over to me.

I'am not holding my breath as I've heard Santander tend to undercut people considerably with what they are owed but do inkeep with the 8% compensation rule.

Paid-to-much, coming from someone so successful with this stuff I find your words humbling.Thanks!
Amerall, thank you for the advice :^)

thanks:D But I honestly just fired off the letters and got the 'right' result (haven't had cheques yet though!) I thought CO were going to give me a fight not Santander, I will let you know when I hear back;)

RichieScouse86

29th November 2011 @ 9.33am
Contacted them this morning with some good news, they confirmed that a letter with an offer was sent out yesterday so I should receive the letter by Friday at the latest, Whether the offer is good enough is another story but its good to see this being dealt with within 4weeks.


Paid_to_much - Obviosuly they are going to be hesitent with the cheque (hoping you forget abut it) but the best possible thing you can do i contact them each day for an update, the longer they leave sending you it the longer the list of interactions for your account is, Santander are given a certain number of call logs for each 'case' so if you keep ringing them and they go over the allocated case log then they'll action it sooner...get on the phone and chase them down like they would if you owed them money.

As for CO, in my experience it was bad enough phoning them to get my credit card deactivated...murder!

paid_too_much

RichieScouse86 wrote: »

29th November 2011 @ 9.33am
Contacted them this morning with some good news, they confirmed that a letter with an offer was sent out yesterday so I should receive the letter by Friday at the latest, Whether the offer is good enough is another story but its good to see this being dealt with within 4weeks.


Paid_to_much - Obviosuly they are going to be hesitent with the cheque (hoping you forget abut it) but the best possible thing you can do i contact them each day for an update, the longer they leave sending you it the longer the list of interactions for your account is, Santander are given a certain number of call logs for each 'case' so if you keep ringing them and they go over the allocated case log then they'll action it sooner...get on the phone and chase them down like they would if you owed them money.

As for CO, in my experience it was bad enough phoning them to get my credit card deactivated...murder!

:T Yay, hope it's a big fat one:T

On your advice I've just emailed them again asking for an update on my complaint, the 14 days I gave them is up on Thursday;)
Hate using the 'phone....too many years in sales have left me petrified of the damn things!

RichieScouse86

30th November 2011 @ 9.00am
Received my offer letter this morning for the sum of £2200, I had calculated another grand ontop of that but given the time of year I'am keen to accept their offer so on this occasion they got away with paying me a thousand less than owed but this amount enables me to pay off every debt I have and be debt free for the first time since I was 16....I'am now 25, and looking forward to a none skint christmas for once :^ ))