PPI Reclaiming Discussion Part 5

cainer

After receiving a letter in October from NRAM, I submitted my response regarding misselling of PPI. Today I have received a settlement of £1000 on a £10,000 loan taken out in October 2006. There is a breakdown of the figures, but I don't know if this is correct. Does this sound about right for this sum borrowed ? Should I accept it ?

djmk4

Hi all,

I am trying to see if I have PPI insurance on a number of financial services I have signed up with in the past, however I have checked my Santander loan documentation but can't see any mention of PPI on there.

I have asked on another forum whats the best way of telling if I have PPI on any of the below, and the replies I got were contact and simply ask the lender, however on contacting a batch of them, everyone of them are giving me a sharp "no"

The only documentation I have checked is my Santander loan agreement, and can't see any mention of it on there.

However I have contacted

Santander - They said I don't
Next Store Card - They said I don't
Barclaycard - Used to be Egg card - I don't

I have a few more left

Tesco Clubcard Credit Card - Never used - Not phoned up and asked

Burton Store Card - Not phoned up and checked

Car Insurance Policy - Not phoned up and checked

My question is...Is this really the best way to check to see I have PPI? won't they be a bit funny thinking that I am only asking as I may want to claim?

What is the best way to ensure I 100% don't have PPI on these?

amersall

mspotter wrote: »

Hi
I sent off the questionaire to Santander re a loan i had with A&L in 2004. I did write to them about this a couple of years ago but did not get a reply (it was when there was a template letter on this site before the questionaire). Last week they sent me this letter...

Thankyou for telling us of your concerns about the PPI policy you took out with Santander product.
Please be advised that a Final Response from us has been sent previousely while acting independantly/under another third party representative. Therefore our response will remain unchanged and no further action is required on our part.
The previous Final Response was generated inline with the current regulations and therefore no further investigation is required.

Now, i have never received the final response that they are talking about and i can only assume that it went to the address i was living at the time of the loan (i have since got married and moved house) Am i entitled to ask them for a copy of their letter and does this mean that my claim will not be upheld?

Looks like it was not upheld last time and they stand by their reasons as previous, you need to get this letter to see what it says, as more than 6 months has passed since this, you will not be able to complain again, you could ask them to reconsider as you moved house and did not receive this letter and see what they say.

amersall

ekoforshow wrote: »

Hi I have been going round in circles with egg over the past 9 months and am finally ready to put some paperwork together. Egg have given me copies of my statements showing PPI payments, however they ovrr time, have failed to provide any details of the signing up paperwork as in their "opinion the account is closed and are not obliged to forward any information". The PPI period is over 6 years ago , however, I am sure that it was mis-sold. I was wondering if anyone whom has had previous success with an egg claim could share their reasons for believing that the PPI was mis-sold or what methods egg employed when selling this PPI. I applied online and am wondering if there was a box pre-ticked or if there was a recommendation online to take the PPI.

This may have been opt out of ppi, you do not need the agreement as this may not show ppi as it could have been added at later date, you need to do a Sar letter, enclose £10 and give them 40 days to respond, this will have the agreement if you want to see the tick box.
https://forums.moneysavingexpert.com/discussion/1475553
.

Look here for reasons for mis sell
http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#step2
Any/all apply to you then make the claim.

jnrcop

Hi all,

I'm just looking for a bit more advice. I was wondering if anyone could explain how the credit card companies are supposed to calculate the interest on any mis-sold premiums paid for PPI policies.

Regards

Ben

amersall

malamutesamoyed wrote: »

Hi again,

No I didn't get any cash back, the cash back is due on the 10th year anniversary. So I'm guessing by what you say that I should may be ask the bank to re consider the offer. If so would you be able to offer any advice on how to word this to them?

Thanks for the advice so far!

You are welcome x If you had the cash back, your redress would be less!, you have the full redress as per FOS the premium is given back with the 8% and the loan reset, there is nothing else they can give you, the main thing is the whole ppi is off the loan and will save you thousands of pounds over the remaining term of the loan in interest alone.
Did you read the post dilus made regarding this? they have calculated this right, they will not want you to go to FOS, so they will not hoodwink you.

amersall

jnrcop wrote: »

Hi all,

I'm just looking for a bit more advice. I was wondering if anyone could explain how the credit card companies are supposed to calculate the interest on any mis-sold premiums paid for PPI policies.

Regards

Ben

If you win redress the card is taken back to the beginning and reworked, if you had a credit balance then you do not get the 8% for that month, not sure how they work the actual interest out, you will have to wait for someone who knows how this is done, it is a tad complicated!

amersall

djmk4 wrote: »

Hi all,

I am trying to see if I have PPI insurance on a number of financial services I have signed up with in the past, however I have checked my Santander loan documentation but can't see any mention of PPI on there.

I have asked on another forum whats the best way of telling if I have PPI on any of the below, and the replies I got were contact and simply ask the lender, however on contacting a batch of them, everyone of them are giving me a sharp "no"

The only documentation I have checked is my Santander loan agreement, and can't see any mention of it on there.

However I have contacted

Santander - They said I don't
Next Store Card - They said I don't
Barclaycard - Used to be Egg card - I don't

I have a few more left

Tesco Clubcard Credit Card - Never used - Not phoned up and asked

Burton Store Card - Not phoned up and checked

Car Insurance Policy - Not phoned up and checked

My question is...Is this really the best way to check to see I have PPI? won't they be a bit funny thinking that I am only asking as I may want to claim?

What is the best way to ensure I 100% don't have PPI on these?

The car insurance is not mis sold.
You would need to have statements for a Credit Card, this will show ppi each month.

If you have no statements for cards do a Sar to each https://forums.moneysavingexpert.com/discussion/comment/51622735#Comment_51622735
This will cost £10 per bank and give them 40 days to respond, this should throw statements up.

the Santander loan will have no ppi if it is not on the agreement.

amersall

cainer wrote: »

After receiving a letter in October from NRAM, I submitted my response regarding misselling of PPI. Today I have received a settlement of £1000 on a £10,000 loan taken out in October 2006. There is a breakdown of the figures, but I don't know if this is correct. Does this sound about right for this sum borrowed ? Should I accept it ?

It will depend on how much the ppi was,if the loan was settled early and if it was did they give you a rebate.

cainer

amersall wrote: »

It will depend on how much the ppi was,if the loan was settled early and if it was did they give you a rebate.

Hi, Yes it was settled in January of this year, and yes there was a rebate