PPI Reclaiming Discussion Part 5

[Deleted User]

pricey1200 wrote: »

as the account is over 6 years old they basically won't be repaying me anything unless i have records of the ppi payments... As i definately don't have these and i'm guessing if they did have them, after my claim they no longer will have them,

Unfortunately, even if you had sent a SAR letter, the Bank are not obliged to keep records going back more than six years.
What information did you actually hold prior to your complaint and what reasons did you give for mis-selling?

2803summer

Hi

Good news, Yorkshire bank have agreed to pay back my husbands PPI he paid on a lone taken out in 2004. My question is, is if they have worked out the redress correctly as im not sure? I am hoping someone may be able to help me.

He took the loan out in Dec 2004 for 36 months and it was paid back early sometime in 2006. On the original loan agreement the sum of PPI charged was £1761.94 and £243.15 PPI interest = £2005.09.

The bank have agreed to pay back £1119.05 (which they state relates to the cost of PPI when the loan was repaid) and £332.73 for 8% interest on PPI installments he paid and £253.93 for 8% interest on the PPI capital repaid at the time the loan was repaid - totally = £1705.01

My question is - is this the correct amount? as i assumed it would be the £2005.09 with interest.

I hope this doesn't sound greedy but I just want to ensure he gets the right amount owed to him as it was geniunely mis sold in the first place.

Thanks in advance

2803summer

Also, in the same complaint he was turned down for 2 other loans because they were before 2004. We have the original loan agreements, do you think it is worth going to the FOS.

Thanks

[Deleted User]

2803summer wrote: »

He took the loan out in Dec 2004 for 36 months and it was paid back early sometime in 2006. On the original loan agreement the sum of PPI charged was £1761.94 and £243.15 PPI interest = £2005.09.

The bank have agreed to pay back £1119.05

My question is - is this the correct amount? as i assumed it would be the £2005.09 with interest.

You haven't taken into account that the loan was paid back early and so a rebate would have been applied to the PPI element. With that in mind, the figures look right to me.

2803summer wrote: »

Also, in the same complaint he was turned down for 2 other loans because they were before 2004. We have the original loan agreements, do you think it is worth going to the FOS.

Plenty of people have claimed back successfully for far earlier loans. The fact that you have documentation strengthens your case. What year exactly were the loans from?

2803summer

Thanks for your reply. Thats great, just wanted to make sure it was correct. He will send the reply off tomorrow

The other loans were taken out in 2001 and 2003.

Thanks again

[Deleted User]

2803summer wrote: »

The other loans were taken out in 2001 and 2003.

Since some have claimed successfully from the 1990's, I'd be inclined not to give in here. Do you have any documentary proof (old statements etc) that you actually paid these loans? Also, are your complaint reasons the same as for the upheld loans?

2803summer

He just has original signed loan agreements and a few odd statements but not many....

We'll give them a go and see what they say. They said they would consider the complaint again if we sent the originals back in! We have sent them 2 times now (once with the complaint that has been upheld!) so i think there trying to put him off with the six years ruling. I will get him to ring them tomorrow and discuss it further

Thanks for your help

[Deleted User]

2803summer wrote: »

He just has original signed loan agreements and a few odd statements but not many....

We'll give them a go and see what they say. They said they would consider the complaint again if we sent the originals back in!

Don't send any originals of course, only copies. (I'm sure that's what you meant)
I wouldn't waste any time re-sending your complaint if they've said they will re-consider. It could be a whole lot less time-consuming that waiting for the Ombudsman!
Do it now!;)

Adam-

Moneyineptitude wrote: »

Did you ring anyone in particular to get the information? I wonder why they refused to divulge it in the original call and then changed their minds?

Rang the same number.

Could be my mistake but I asked the first time and the operator said he couldn't tell me, phoned yesterday asked the same question and was told that all 5 of the accounts had PPI on

amersall

pricey1200 wrote: »

Hi, ive just recieved a letter from my bank informing me that whilst a have payed ppi on an old account, as the account is over 6 years old they basically won't be repaying me anything unless i have records of the ppi payments... As i definately don't have these and i'm guessing if they did have them, after my claim they no longer will have them, then theres not allot i can do.. Has anyone else been in this position and found a successful way out of it??!!

How long ago was this account?, it is possible you would get the info from a Sar request, ask for all info they hold on you, if you do not get anything back then all you have lost is £10, i had info from 2000 in 2009 for this request, give it a go.
https://forums.moneysavingexpert.com/discussion/1475553

Banks are at it again, fobbing people off so they do not take this further, see what comes back.