PPI Reclaiming Discussion Part 5

imntmad

imntmad wrote: »

Hi there,

I have a catalogue account with Very (Littlewoods home shopping), and have had since 2008. Due to the fact I have existing medical conditions I have always avoided PPI, as I knew the reason I would most likely have to claim, would not be covered.

I recently discovered I had PPI on my Very account - which I know nothing about, after imdeiately cancelling it, stating at the time that I didn't realise I had PPI, I wrote to Very, (using the guides on here), reclaiming my PPI as misold, on the basis I would have been excluded due to medical conditions, plus a few others (didn't know I had it, wasn't asked about medical condidtions, no-one checked policy suitable, had alternate finance available, other options not discussed/offered etc etc).

After almost 3 months of stalling, they have finally written to me rejecting my claim, stating I opened the account online, and would have had to tick a box for the PPI, and also tick a box stating I head read all the T&C's, therefore I should have known better! (slightly paraphrased, but basically what they are saying).

Is this true, or are they just hoping I'll go away and drop the case?

What is my next step - straight to the FSO? or do I go back to Very and ask them to prove I ticked the box and it wasn't 'pre-ticked' or use another argument with them before I go to the FSO?

Thanks all

Hi Guys - any chance of advice on the above? A little concerned about the whole applied online - must have ticked the box thing, and that as online app, I had access to T&C's. My argument revolves around the fact that they never made any explicit mention of previous medical conditions excluding you from the policy, and that I honestly don't recall 'selecting' PPI, so wonder if it was a pre-ticked box

Any advice appreciated before I respond to them.

Thanks

weejoyous

Hi,

I've just had an offer from RBS which I've accepted. Does anyone know how long it usually takes them to pay up?? Thanks
:-)

ctrainor

Just looking at some paperwork and I have been paying £7.77 a month for a mortgage protection plan for almost 10 years.
I think it was arond the time I swapped Mortgages to Abbey National.
Is this something i should be claiming on?

[Deleted User]

imntmad wrote: »

Hi Guys - any chance of advice on the above? A little concerned about the whole applied online - must have ticked the box thing, and that as online app, I had access to T&C's. My argument revolves around the fact that they never made any explicit mention of previous medical conditions excluding you from the policy, and that I honestly don't recall 'selecting' PPI, so wonder if it was a pre-ticked box

We here on the forum have no way of knowing whether there was a pre-ticked box or not.
The question you have to ask yourself is whether you truly believe there was a pre-tick (and the Bank are lying) or that you simply hope there was (and the Bank are truthful).

If the former applies you should refer your case to FOS, but do be aware that the Bank will likely have evidence to back up their statements that there was no pre-ticked box.
What evidence do you have that there was?

An online application is classed as a "non-advised" sale, so the Bank are not responsible for your apparent non-awareness of the exclusion of pre-existing medical conditions. They are saying you mis-bought the insurance rather than being mis-sold it.

GeeFunk1966

Hello everybody,

I've searched the forum trying to make sure I'm posting the following in the correct thread, so please bear with me if I'm mistaken.

I've received a PPI refund offer from NatWest and I'd just appreciate somebody with more experience/expertise running their eye over the details to see if it appears fair and correct.

If this is ok to do, I'm not a regular forum user so I wanted to check, I'll provide the breakdown once I know this is acceptable.

Thanks a lot.

[Deleted User]

GeeFunk1966 wrote: »

I'd just appreciate somebody with more experience/expertise running their eye over the details to see if it appears fair and correct.

If you've received a full refund of all PPI you paid plus 8% simple interest then this is full redress.
Do you have reasons to suspect the Bank's offer is not fair and correct?

GeeFunk1966

Hello "Moneyineptitude,"

Many thanks for replying. In answer to your question the only reason for me posting on here is a little cynicism where banks are concerned and more specifically because they phrase their offer as "....a gesture of goodwill and without any admission of liability..." To be fair, they have broken down their offer for my 3 loans in a chain and stated that they are repaying all the PPI plus interest and an additional 8% interest.

[Deleted User]

GeeFunk1966 wrote: »

"....a gesture of goodwill and without any admission of liability..." To be fair, they have broken down their offer for my 3 loans in a chain and stated that they are repaying all the PPI plus interest and an additional 8% interest.

Goodwill gestures are usually applied where a full investigation has not been possible and the "balance of probabilities" has gone in the complainant's favour.
If they are offering full redress I'd accept, as you won't be awarded any more than that.
You won't, however, be receiving "interest plus an additional 8% interest". You'll only get the 8%.

GeeFunk1966

Hi Moneyineptitude,

Many thanks again, your explanation kind of makes sense. This is the breakdown of their offer:

Loan 1 - £10k over 10 years - 84 repayments of £150.51 made - consolidated by
Loan 2 - £12.5k over 5 years - 20 repayments of £245.92 made - consolidated by
Loan 3 - £20k over 7 years - still running

I know the first loan had PPI but not the last. I'm not sure about the middle one but think not, NatWest say not.

Their offer:
Loan 1 - PPI Premium + associated interest to date = £2202.48
8% = £1630.95
Less Tax = -£326.19
Total = £3507.24

Loan 2 - PPI Premium + associated interest to date = £269.95
8% = £106.39
Less Tax = -£21.28
Total = £355.06

Loan 3 - PPI Premium + associated interest to date = £381.47
8% = £60.63
Less Tax = -£12.13
Total = £429.97

Total Offer = £4292.27

From the information you have already very helpfully supplied, and I am very grateful for your time, I'm thinking that this does appear to be a fair and correct offer which I should accept?

Thanks so much again.

[Deleted User]

GeeFunk1966 wrote: »

I'm thinking that this does appear to be a fair and correct offer which I should accept?

There is nothing in that breakdown suspicious or unfair that I can see.

I'd accept without reservation.


(However, if NatWest say you didn't have PPI on your middle loan, why are they giving you a refund? Is this just PPI consolidated from the earlier loan???)