PPI Reclaiming Discussion Part 5

Jasper_Cat_2

Hi, firstly just to say a big thanks to everyone on here, having read many posts I took the step to reclaim ppi on an old RBS credit card on which i had ppi from 2000 to 2002 - printed the forms available here , phoned RBS and within a week had recieved on offer of £211.39 :j.
So then progressed onto two loan I also had with RBS, and this is where I would like some advice please.
First loan was taken out in 1997, (i did make a claim on this in 1999/2000- recieved £1500 payment) , so i have recieved a ppi offer of £700.
The second RBS loan was taken out in July 2000, and i have again recieved a ppi offer of over £8000. !!! This amount is made up of over £5000 of ppi premium / associated interest and £3,300 of net interest.
In 2002 I went off work sick and could not return to work until 2006. Tried to claim on PPI but RBS refused claim which resulted in long battle with RBS taking me to court resulting in reduced payment plan ( which i am still paying ) and charging order on my house.
In the offer letter RBS has said that if
" i am subject to alternative fiduciary arrangements such as iva, pdt, bankruptcy or sequestration , any payment will be made to an existing account with them"
Does that mean the whole amount ? , it would be great to finally get finished with RBS but i have read about that the interest part of the payment should not go to paying off debts.
This amount is almost a years wages as i could not go back to work full time and although i want to be finished with RBS, there are other debts i could also get clear with if i recieved the interest part of the offer.

amersall

Contact them and ask, they can take the whole redress off what you owe.
Is the loan on the payment plan one that has been redressed?, if it has then the whole PPI should be taken off the balance of the amount owing, this should reduce the debt too, make sure they do this.

I personally don't think they should take the 8% but I believe they do, you also pay tax on this amount,if the bank do not take the tax off at source then you are ok, if you are a non tax payer, I presume you are still only part time?, if the 8% does not take you over your personal allowance then you do not pay the tax on this, if they take the tax off then you need to contact HMRC and ask for it back.

dgmp

Hi,

I've received an offer from RBS after replying to their letter asking if I wanted to reclaim PPI.

They have said that the single premium version of the policy was not the best choice for me at the time and a regular premium would have been more appropriate.

As a result they have taken this into account in calculation of my offer. In their offer they are basically still charging me for the monthly premium policy. I obviously would prefer that they returned to me the whole amount for the PPI premium.

Is the best way forward to contact the FOS? Or would a letter to the bank be more appropriate?

Cheers.

nuttyrockeress

I am looking into doing a PPI claim but have a few questions - I have read lots on the forum around letters etc to send but I'm still unsure what to do.

I took out a loan with PPI from Lloyds back in 2003. I still have this loan after refinancing it I believe 2 or 3 times.

I don't have all of the account numbers and was just looking to send the letter "PPIandC template" - asking for a copy of my agreement with a £1 cheque however I don't think this will cover the previous agreements signed?

Do I need to send a letter first to request copies of my loan account/agreement numbers from them before I can do anything? Or do I send a letter to Lloyds that says I would like to complain about the misselling of PPI on each loan I had and that I don’t have the loan numbers (will they be able to find this for me if I just give them my current account number)?

I was told at the time (I can still remember the name of the person that sold the loan to me) that to be accepted for the loan that I had to have the PPI. I had been off work the previous year for 3 months after a car accident which I mentioned at the time although Iwas on full pay with the company that I worked for.
This was on the first loan that I had, the second that I had (it was the same person that sold me the loan) that to get a better interest rate I would need to have the PPI. The last loan that I had I was told similar but I cancelled the PPI before I made the first payment.

If I called them, would they be able to give me the account numbers over the phone?

Thanks in advance for any advice

euronorris

If I wanted to check if I had PPI on an old (closed) Egg CC account, who would I contact? Barclaycard? Also, do I just need to call up and ask them or will I need to send off a full SAR request?

-taff

nuttyrockeress wrote: »

I don't have all of the account numbers and was just looking to send the letter "PPIandC template" - asking for a copy of my agreement with a £1 cheque however I don't think this will cover the previous agreements signed?

Phone and ask but if they can't tell you, you will have to send a SAR and £10 - see the front page sticky for a template.

-taff

euronorris wrote: »

If I wanted to check if I had PPI on an old (closed) Egg CC account, who would I contact? Barclaycard? Also, do I just need to call up and ask them or will I need to send off a full SAR request?

You will also have to send a SAR and £10
to Egg

amersall

dgmp wrote: »

Hi,

I've received an offer from RBS after replying to their letter asking if I wanted to reclaim PPI.

They have said that the single premium version of the policy was not the best choice for me at the time and a regular premium would have been more appropriate.

As a result they have taken this into account in calculation of my offer. In their offer they are basically still charging me for the monthly premium policy. I obviously would prefer that they returned to me the whole amount for the PPI premium.

Is the best way forward to contact the FOS? Or would a letter to the bank be more appropriate?

Cheers.

What reasons did they give for you needing a stand alone policy?.
If you did not need insurance, you would have to show that you could have repaid the debt in any eventuality, did you have a good sick package from work ?, life insurance or other insurance, if you were a student/worker working less than 16 hours a week, had savings or a previous illness that would have made it impossible for you to claim, if you did, you need to get back in touch with them, if you did not have other means to repay this debt then they are correct in saying you need some form of insurance and have taken this into account.

dunstonh

dgmp wrote: »

Hi,

I've received an offer from RBS after replying to their letter asking if I wanted to reclaim PPI.

They have said that the single premium version of the policy was not the best choice for me at the time and a regular premium would have been more appropriate.

As a result they have taken this into account in calculation of my offer. In their offer they are basically still charging me for the monthly premium policy. I obviously would prefer that they returned to me the whole amount for the PPI premium.

Is the best way forward to contact the FOS? Or would a letter to the bank be more appropriate?

Cheers.

The FCA do allow single premium complaints to be converted to monthly premium with a refund of the difference to you. This typically happens when no wrongdoing has been identified by them other than the use of single premium.

What were your reasons for complaint? At the moment, the bank have not upheld your complaint. Was your complaint a good one or weak one (eg. good as in sickness benefits from work covering a year or weak such as an unprovable verbal allegation of what was said in the sales process). How have the bank rejected your complaint and do you have any evidence to back up your complaint?

bunter

Hi there, I am looking into reclaiming PPI for various loans and credit cards from the last 10 years. I have no idea who some of the loans and cards were with and they are not on my Experian credit report, maybe due to their age, is there any other way to find a record of these?

Thanks!