PPI Reclaiming Discussion Part 5

soaperwoman

All I had was a 10 year old, hand written list of standing orders that I had cancelled when I moved abroad eight years ago. I sent this list to Barclays with your template letter. I had no idea of whether there were PPI payments included on this list but it seems there were. Initially I was offered £500 but I challenged this and they raised my PPI offer to £3,500. They then contacted me to say that even though I had not complained about my endowment policies they had decided to do a 'pro-active review' on whether or not they had been mis-sold to me. Barclays concluded that they had been mis-sold and refunded me a further £33,500 ! :j Needless to say I now won't hear a word said against Barclays :T

Brains64

soaperwoman wrote: »

All I had was a 10 year old, hand written list of standing orders that I had cancelled when I moved abroad eight years ago. I sent this list to Barclays with your template letter. I had no idea of whether there were PPI payments included on this list but it seems there were. Initially I was offered £500 but I challenged this and they raised my PPI offer to £3,500. They then contacted me to say that even though I had not complained about my endowment policies they had decided to do a 'pro-active review' on whether or not they had been mis-sold to me. Barclays concluded that they had been mis-sold and refunded me a further £33,500 ! :j Needless to say I now won't hear a word said against Barclays :T

Fantastic:), this is a good example of why getting a full breakdown of how they arrive at a redress figure along with the offer is vital, because at the end of the day, whether they deliberately short fall an offer or it's a mistake doesn't matter, what matters is that if you'd accepted that £500 instead if challenging it you'd be the loser not them, big difference between £500 and £3,500, think about this lady's and gents, if banks regularly got away with offering that kind of redress short fall they'd be saving a lot of the funds they've put aside for redress, doesn't it make you wonder how many others, unlike soaperwoman have settled for less because they didn't get a full breakdown or didn't look at it carefully??

soaperwoman

Actually they didn't send me a breakdown. They told me that they no longer had records but were offering me a goodwill payment of 500. My thinking was that by making the offer they were acknowledging that I did, indeed, have a PPI policy and, if this was the case I assumed it was linked to my mortgage. Since the mortgage ran for 15 years I calculated that they probably owed me around £7,500 including interest. My follow up letter to them pointed out that I had been with the same branch and had the same account for 40 years so it was not acceptable for them to have destroyed my records - seems they miraculously appeared again

Brains64 wrote: »

Fantastic:), this is a good example of why getting a full breakdown of how they arrive at a redress figure along with the offer is vital, because at the end of the day, whether they deliberately short fall an offer or it's a mistake doesn't matter, what matters is that if you'd accepted that £500 instead if challenging it you'd be the loser not them, big difference between £500 and £3,500, think about this lady's and gents, if banks regularly got away with offering that kind of redress short fall they'd be saving a lot of the funds they've put aside for redress, doesn't it make you wonder how many others, unlike soaperwoman have settled for less because they didn't get a full breakdown or didn't look at it carefully??

maggyp

Moneyineptitude wrote: »

Why stress yourself with constant calls to bank staff who can do nothing to expedite payment of your redress?
Obviously, you've already waited some time for FOS to overturn the Bank's original decision. However, be aware that the Ombudsman referral process has been taking as long as eighteen months to complete from beginning to end. This means you could be waiting for some time yet.
I recommend you stop calling the Bank every day and treat the redress (when it comes) as an extra rather than a necessity. I understand your frustration, but there is little you can do now but wait.

Thanks for the advise to de stress
I spoke to the FSO and they told me that the 10 weeks MBNA have to reply started on the 17th Dec the date they actually sent the letter to MBNA and that I must take into consideration the Christmas period,so the 10 week period that MBNA have to respond now takes us up to FEB 25th which is not made clear in any communication.

Never the less MBNA are still advising that there is a stop on all cheques due to HMRC wanting a recalculation on all payments ! has anyone heard of this

Thanks Maggy

jules42518

amersall wrote: »

As you tried to get the PPI removed, I would put the complaint in, if you could have paid this card back should the worst happen ie good sick package, redundancy package and life insurance and you had no need of this and this is why you tried to cancel, put the complaint in.

Thanks amersall. they claim they have no record of the communication trying to cancel but I know i telephoned several times and had to put it in writing, however I have no copies.
I am still going to complain, i couldn't be any surer.

[Deleted User]

maggyp wrote: »

Never the less MBNA are still advising that there is a stop on all cheques due to HMRC wanting a recalculation on all payments ! has anyone heard of this

Just stop ringing them so often!;)

[Deleted User]

jules42518 wrote: »

but I know i telephoned several times and had to put it in writing, however I have no copies.
I am still going to complain, i couldn't be any surer.

I'm afraid that unless you can find some proof of your allegations, your complaint will also be rejected by FOS.

I certainly wouldn't make any allusions about someone at the Bank ticking the box for you. Remember that wouldn't just be mis-selling, it would be verging on the criminal if it were true. You can't prove this, however, so all you can legitimately say is that you are sure that you didn't tick the box.

It's just a pity that you have no copy of the letter you apparently sent asking the Bank to cancel your PPI or of any reply you might have received.

Do detail any savings or employment benefits that you had, especially if they would have made having PPI unnecessary.

Be aware that an Ombudsman referral has been taking in excess of a year, so you have a long wait ahead...

janspeed1

I've been encouraging my parents to take out a PPI claim as they think they have it on mortgage and a range of cards etc.

They were told they needed it to get a mortgage.

After my own successful claim, i told them how easy it was.

Anyway, much to my dismay, i asked them yesterday if they had started a claim... "yes son, we used a nice company who do it all for us. Its much easier than doing it ourselves" :eek:

So i'm wondering if its possible for them to pull out? contact the company and say they are withdrawing the claim, and i can do it for them?

Stormy71

Hi I hope someone can give me a bit of advice. RBS are unable to uphold my claim.
This was a credit card with Ulster bank taken out in May 2002 with ppi attached. I cancelled the ppi October 2004 Card was closed March 2007. They are telling me that all their PPI are provided on a non-advised basis. They are saying that their staff are trained to ensure that their customers are aware that the credit card and PPI are separate products. I also had alternative cover in place and generous package from employer. Is this the end of the line for me.
1st claim I've tried, a bit wary about trying others now. I was sure I took this card out in Bank. I stopped PPI when I realized that I had it, and was struggling with monthly payments Of nearly £300.:

-taff

janspeed1 wrote: »

Anyway, much to my dismay, i asked them yesterday if they had started a claim... "yes son, we used a nice company who do it all for us. Its much easier than doing it ourselves"
So i'm wondering if its possible for them to pull out? contact the company and say they are withdrawing the claim, and i can do it for them?

Yes if it's within 14 days, otherwise they will have to pay to cancel the contract.
If they don't want to, a lot of companies won't after the difficult win so unless your parents case seems easy, they may not take it on anyway.