PPI Reclaiming Discussion Part 5

-taff

There have been two or three occasions when people have been successful complaining to the underwriters, so good luck

lgys15653

hi i have made a successful claim, but do not think its correct. do i have to accept there offer or can i refuse it and challenge it? we believe we paid more money can i ask how they got this figure. and they have offered us £50 as well as compensation. is this a standard compensation?

[Deleted User]

lgys15653 wrote: »

hi i have made a successful claim, but do not think its correct. do i have to accept there offer or can i refuse it and challenge it? we believe we paid more money can i ask how they got this figure. and they have offered us £50 as well as compensation. is this a standard compensation?

Standard "compensation" is a refund of all you paid plus 8% simple interest.

If you have documentation showing you paid more than the Bank are offering then you can choose to not accept the offer and refer to FOS. However, if your complaint is about credit card PPI and you have simply tallied up what you estimate you paid, be aware that this kind of PPI would only be paid by you when there was an outstanding balance on your account.

Another thing to consider is whether this is a "goodwill" offer from the Bank in which they accept no liability but make a token payment offer.

As always, if you post up more far more details of your complaint and the response you received from the Bank then we can help you more.

aprieto

HI I wonder if there is someone else out there that can advise me on their experience with Northern rock / NRAM

I got one of those ridiculously long loans back in 2004, the trick was that I paid off part of a loan with the same company whilst getting this loan, for the life of me I cant remember if Id applied online of called them up, I do remember calling them up regarding removing PPI as my last loan did not have it, I remember being told that is was part of the loan and could not be removed.

I did go ahead with it, but im not sure if I have some sort of a claim here, if I applied on-line im assuming that the PPI box was pre ticked, as I don't think I would have ticked it, or at least called up asking questions about it.

The loan in question was a 15k loan with 7276.50 PPI on it running at 9.9% amount of credit was 22.726.50 and charge for credit was £12337.50 totalling £34614.

If I do go about a claim how do I go about this, ive been reading about the PPI being part of the loan and this should not have been and obviously form a phone call I remembered that we could not take the PPI off and that is was part of the loan.

Any help would be very much appreciated

Thanks

Daubster

Hi there all, i have claimed for PPI on a few cards/ loans, i also claimed on my LLoyds CC a few years back but at the time they said NO . Not sure whether it was Lloyds being 'Mr Big' against me 'Mr Small'
Is it worth having another go at them

All help grately recieved
D

amersall

aprieto wrote: »

HI I wonder if there is someone else out there that can advise me on their experience with Northern rock / NRAM

I got one of those ridiculously long loans back in 2004, the trick was that I paid off part of a loan with the same company whilst getting this loan, for the life of me I cant remember if Id applied online of called them up, I do remember calling them up regarding removing PPI as my last loan did not have it, I remember being told that is was part of the loan and could not be removed.

I did go ahead with it, but im not sure if I have some sort of a claim here, if I applied on-line im assuming that the PPI box was pre ticked, as I don't think I would have ticked it, or at least called up asking questions about it.

The loan in question was a 15k loan with 7276.50 PPI on it running at 9.9% amount of credit was 22.726.50 and charge for credit was £12337.50 totalling £34614.

If I do go about a claim how do I go about this, ive been reading about the PPI being part of the loan and this should not have been and obviously form a phone call I remembered that we could not take the PPI off and that is was part of the loan.

Any help would be very much appreciated

Thanks

Contact Nram on 0845 609 9610 or write to them at Customer Relations, NRAM, Regent Centre, Gosforth, NE3 4AW.d and make the complaint.
Telephoning will be best initially,have the account number and reasons for mis sell, ask them to look at other loans that you had with them that were refinanced.

Single Premium PPI is one of the reasons that you use, this PPI was in effect a loan on the loan to be paid back to term with interest and when you settled one loan with the next, the remaining PPI after the rebate was added to the next loan and you paid interest again on this, Single Premium does not guarantee a win so give other reasons that you may have been mis sold too.

amersall

Daubster wrote: »

Hi there all, i have claimed for PPI on a few cards/ loans, i also claimed on my LLoyds CC a few years back but at the time they said NO . Not sure whether it was Lloyds being 'Mr Big' against me 'Mr Small'
Is it worth having another go at them

All help grately recievedD

You could make the claim again, be prepared for them to tell you they have dealt with this claim and responded, when they said no you should have taken this to FOS, give it a go, you have nothing to lose.

wolfman2

Hi

Just wondering did you manage to get your 8% interest back as I am in same situation with Barclays Bank?

Wolfman2

Daubster

It was a few years back i claimed and was successful with all but Lloyds TSB. My wife claimed against Barclays and won. In total with loans/CC's we gained almost 27k i am sure we earned interest on the original sum hnce the larger payout. Hope this helps.

I'll keep you posted on my Lloyds quest

aprieto

amersall wrote: »

Contact Nram on 0845 609 9610 or write to them at Customer Relations, NRAM, Regent Centre, Gosforth, NE3 4AW.d and make the complaint.
Telephoning will be best initially,have the account number and reasons for mis sell, ask them to look at other loans that you had with them that were refinanced.

Single Premium PPI is one of the reasons that you use, this PPI was in effect a loan on the loan to be paid back to term with interest and when you settled one loan with the next, the remaining PPI after the rebate was added to the next loan and you paid interest again on this, Single Premium does not guarantee a win so give other reasons that you may have been mis sold too.

Many thanks for that, the number you gave was for the mortgage side of things, this was a personal loan but i think I have hte number to get through to them.

I cant obviously remember if I Applied for the loan online, but do remeber the phopne conversation about removing PPI and being told no, im assuming that if it was online that there was a pre-ticked box as I wouldnt have ticked it myself. is it worth mentioning this?, has anyone else manage to get money back for application online?

Thanks for all your help