PPI Reclaiming Discussion Part 5

dilus

Gemster1982 wrote: »

Hi hope you have been somewhere nice
Thanks you for your help...Didn't actually mean a claims company they ain't gettin none of my dosh haha... Rip off big time. I just ment a company I can write to with Northern Rock no longer been in the picture..
I have printed off the forms to fill out so will get on with trying to Claw some of it back. God know's with a new baby would be a massive bonus..... I will be back for help on the next step and an update ))) Massive Massive thanks for all your help )... Hopefully have good news :
Gem

You're very welcome Good luck, from other posts look here

http://www.n-ram.co.uk/customers/contact-us.aspx

miffy93

Hi, hopefully someone can give me further advice on this.

I was sent a 'complaints pack' a few weeks ago from Santander who have just offered me, without any arguing, £1,302.25 for a loan I took out in Mar 2005 (through Abbey).

This loan was supposed to run for 6 years but was paid off early in May 2008 (according to their records......I can't remember the exact date/year).

The loan consisted of a PPI monthly payment of £24.67.

Their breakdown consists of:-

Total premiums paid to 1st May 2008 - £912.79.
Statutory interest on this amount to 29th Feb 2012 - £389.46.

Therefore a total reimbursement of £1,302.25.

My questions therefore are:-

1) Should I just take this offer and leave it at that?

2) If I challenge this, how do I do it? (there's an 'Ombudsman' leaflet in the pack but is there a sample template anywhere?)

3) If I challenge and the ombudsman rejects my challenge am I still entitled to the original payout of £1,302.25 ? (if so does this mean I have nothing to lose by challenging?)

4) If I challenge what are the chances of a win & how much more is the payment likely to be?

Thank's in advance for any help.

dilus

miffy93 wrote: »

Hi, hopefully someone can give me further advice on this.

I was sent a 'complaints pack' a few weeks ago from Santander who have just offered me, without any arguing, £1,302.25 for a loan I took out in Mar 2005 (through Abbey).

This loan was supposed to run for 6 years but was paid off early in May 2008 (according to their records......I can't remember the exact date/year).

The loan consisted of a PPI monthly payment of £24.67.

Their breakdown consists of:-

Total premiums paid to 1st May 2008 - £912.79.
Statutory interest on this amount to 29th Feb 2012 - £389.46.

Therefore a total reimbursement of £1,302.25.

My questions therefore are:-

1) Should I just take this offer and leave it at that?

2) If I challenge this, how do I do it? (there's an 'Ombudsman' leaflet in the pack but is there a sample template anywhere?)

3) If I challenge and the ombudsman rejects my challenge am I still entitled to the original payout of £1,302.25 ? (if so does this mean I have nothing to lose by challenging?)

4) If I challenge what are the chances of a win & how much more is the payment likely to be?

Thank's in advance for any help.

Hi miffy93,
The figures they are offering add up and sound OK, I would accept, you can't get back more than you are entitled to

DrowninginDebt

I am in my 2nd year of an IVA - am I able to claim PPI on the credit cards included in the IVA? If so, would it be swallowed up against the debt so I may as well save my breath?!

miffy93

dilus wrote: »

Hi miffy93,
The figures they are offering add up and sound OK, I would accept, you can't get back more than you are entitled to

Hi,

Thanks for the quick response. As this is the only PPI claim I have been involved in (and was initiated by the lender) I wasn't sure if they were trying to pull a fast one.

I now need to look at any other loans/CCards i've had and initiate something from my end.

Whilst I'm on the subject i've just read a post about critical illness cover either yourself or someone else could hopefully help with.

About 15/16 yrs ago I took out an endowment mortgage with Halifax, which included critical illness cover. As the years have gone by we have remortgaged a couple of times & converted the mortgage to a repayment one & have added additional life insurance etc, whilst keeping the original endowment policy running.

Questions:-

1) Am I entitled to claim anything back for this endowment policy (Wife & I were newlyweds.....naive....first mortgage etc).

2) Are we better off keeping the policy running for the remainder of the term (It has about 9/10 yrs to run & was designed to pay off a £45,000-£48,000 mortgage from what I remember) - Although the yearly statements we receive state that it will pay off less than this it will still be a nice payment when it does eventually payout.

3) What would happen if we 'cashed it in'......would it be worth doing this......how much 'roughly' would we get?

Sorry for all the questions.
Thanks again

dilus

miffy93 wrote: »

Hi,

Thanks for the quick response. As this is the only PPI claim I have been involved in (and was initiated by the lender) I wasn't sure if they were trying to pull a fast one.

I now need to look at any other loans/CCards i've had and initiate something from my end.

Whilst I'm on the subject i've just read a post about critical illness cover either yourself or someone else could hopefully help with.

About 15/16 yrs ago I took out an endowment mortgage with Halifax, which included critical illness cover. As the years have gone by we have remortgaged a couple of times & converted the mortgage to a repayment one & have added additional life insurance etc, whilst keeping the original endowment policy running.

Questions:-

1) Am I entitled to claim anything back for this endowment policy (Wife & I were newlyweds.....naive....first mortgage etc).

2) Are we better off keeping the policy running for the remainder of the term (It has about 9/10 yrs to run & was designed to pay off a £45,000-£48,000 mortgage from what I remember) - Although the yearly statements we receive state that it will pay off less than this it will still be a nice payment when it does eventually payout.

3) What would happen if we 'cashed it in'......would it be worth doing this......how much 'roughly' would we get?

Sorry for all the questions.
Thanks again

I am by no means an expert on mortgages as I haven't got one and don't really understand them all I do know is that insurance on mortgages is often essential and sound practice, especially critical illness and death cover. Mortgage insurance is far less mis sold as it it usually tailored to your requirements at the time and sold with good advice. I'm sorry but any further advice I try to give would be guesswork and that wouldn't be sound advice

dilus

DrowninginDebt wrote: »

I am in my 2nd year of an IVA - am I able to claim PPI on the credit cards included in the IVA? If so, would it be swallowed up against the debt so I may as well save my breath?!

Hi DrowninginDebt,
Yes it would probably be swallowed up against the debt, which is well within the banks right but if you feel you were mis sold go for it. Anything you can do to claw some cash back would be well worth it if successful but PLEASE, PLEASE do it yourself. Do not use a claims company as you will probably end up not only, not seeing any cash yourself but also end up with a bill from the CC that you would have to swallow
You would not be wasting your breath, just ink out of a pen and £2 in postage for recorded delivery

miffy93

dilus wrote: »

I am by no means an expert on mortgages as I haven't got one and don't really understand them all I do know is that insurance on mortgages is often essential and sound practice, especially critical illness and death cover. Mortgage insurance is far less mis sold as it it usually tailored to your requirements at the time and sold with good advice. I'm sorry but any further advice I try to give would be guesswork and that wouldn't be sound advice

Ok, thanks again.

JustForThisOne

is it to late to claim I had an Abbey Credit card which one day become a MBNA card and I am positive I paid monthly for this cover. I stopped using the card when suddenly (maybe when Santander bought Abbey?!) MBNA interest went to 34%. I actually never wrote or spoke to them about closing the account just simply stopped using the card. That must have been 2004/2006. How long do we have to claim? Where can I read info on how to claim without using agencies?
tia

JustForThisOne

DILUS I was trying to pm you to no avail, pls can you confirm if you did receive it? thanx