PPI Reclaiming Discussion Part 5

Grand_Benders

Received my cheque this week from First Plus, a whole week before the 4week estimate they said it would take.

Mi - My breakdown actually did include PPI repaid in full (less settlement rebate from when I paid off the loan) PLUS the interest they'd charged on the PPI PLUS 8% interest. My payout was actually about £2k more than I had thought it would be, so I was pretty pleased.

I was also pleased that, despite First Plus being wholly owned by Barclays, BC didn't whip the payment straight off me to go towards my (former Egg) BC debt, currently part of my DMP.

This whole process was so straight forward. Initial complaint was lodged by telephone (number on the FP website), with just rough date of loan and address where I lived at the time (secured loan)and has been completely within all timescales quoted by FP. I was in no doubt that I had been missold (consolidation loan AND I was told I wouldn't get the loan without taking PPI) so perhaps that made it easier, but excellent result.

If you're thinking about it, just do it. Make the call if there's a number available, don't bother with reclaim companies.

amersall

Moneyineptitude wrote: »

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%.

The interest on the PPI is in the PPI monthly payments that they are returning, so the interest on the PPI and the 8% is being paid
Thought you would know that

amersall

rsk8 wrote: »

Hi,

I had a Natwest Credit Card in 1996 which at the time automatically came with PPI. It charged a set amount of £12 a month I think as I have no records of what payments I made etc.

I remember realising at the time and complaining. They removed the monthly charge but I did not get any money back at the time.

I think I only paid this for a few months so not much money lost.

They have offered me £1316.18 as a gesture of goodwill.

Should I accept this or try for more??

It seems a good result to me,

Thanks

RSK8

It is an excellent result :j snatch their hand off

[Deleted User]

amersall wrote: »

The interest on the PPI is in the PPI monthly payments that they are returning, so the interest on the PPI and the 8% is being paid
Thought you would know that

You know what I meant!:p

amersall

Moneyineptitude wrote: »

You know what I meant!:p

Yep as long as you did

blueovalcraig

I had a loan with BoS approx ten years ago. I had PPi with it. I lost my job soon after and unfortunately defaulted on the loan. PPi didnt pay out. I have no paperwork or anything for this. Would I still be able to claim back missold PPI ?

Buggey

Hello first time on here so hope I'm posting in correct place.
I put in a complaint for a credit card I got in 1989, I've received a letter back saying they are unable to uphold my complaint, after looking at all the evidence,I did get a copy of my agreement and I did tick the box, not sure what to do next I've got 28 days to complain again with further supporting evidence to support my claim, should I complain again or just forget about it as I did tick the box and they said I could have cancelled at any time,
Any advice what to do would be grateful,
Thanks

DominicM

Buggey

I used the following in a letter to a provider that I had a refund from:

>>
I would also like a copy of the original credit card application to check what I agreed to at the time.

• I do not believe that an adequate demands and needs assessment was conducted.
• I do not recall my employment status being discussed or my eligibility to claim on the policy sold to me being discussed.
• I do not recall the policy exclusions being explained fully to me.
• I was not consulted to determine whether I had alternative insurance in place to cover me in the event of needing to claim due to being unable to work.
• No checks on pre-existing medical conditions were made and at the time of the agreement.
• I do not recall the policy exclusions and limitations being explained.

Insurers are under an obligation to ensure that the policy they are selling is appropriate to the customer and it would appear that this requirement was not fulfilled.

As a result I am requesting a full refund of all my insurance payments, plus interest.

If I do not receive a satisfactory response from you within 30 days from the date of this letter I will pursue this claim through the Financial Ombudsman.
<<

Obviously include your own personal information as a preface to this text.

sonny22

My PPI claim goes back to the 1980s, I have the agreements however have got rid of my statements. Is there any chance of a claim being upheld by the Ombudsman? The bank have turned claim down due to lack of records.
Appreciate any assistance.

[Deleted User]

sonny22 wrote: »

My PPI claim goes back to the 1980s, I have the agreements however have got rid of my statements. Is there any chance of a claim being upheld by the Ombudsman? The bank have turned claim down due to lack of records.

If you don't have records and the Bank have no records then the Ombudsman certainly has no way of producing them, I'm afraid. The 1980's is approaching thirty years ago now and I think you'll just have to accept that any complaint would have needed very comprehensive documentation from your own archive in order to stand any chance of success.
Regardless, you'd also need valid and verifiable complaint reasons.