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PPI Reclaiming Discussion Part 5
Comments
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The fact that that RBS have been found guilty on so many fronts...?
So, you are saying that all staff should be tarnished by the same brush? Most credit card and PPI complaints are upheld. Most mortgage PPI complaints are rejected. However, that doesnt mean 100% of all should be upheld.
This isnt to say your complaint will or will not be upheld at the FOS. However, the FOS look at the available evidence. Some complaint reasons are strong enough to not require evidence. Others are weak and require getting lucky.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Moneyineptitude wrote: »Yes a monthly separate premium for PPI was indeed "available"..
On a credit card or mortgage-yes On an unsecured personal loan?Moneyineptitude wrote: »This is by no means the first time someone with a single monthly premium has been offered redress on that aspect alone.
The OP did not have a single monthly premium. Thought it was a single premium policy. What aspect?0 -
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Absolutely. In fact the final PPI policy in my own consolidation chain was paid for by separate monthly premium. I was paid out because the earlier ones were not.On a credit card or mortgage-yes On an unsecured personal loan?
Your confusing the terms. A single monthly premium paying for both loan and PPI is the same as a single premium policy . The payments should have been separate and the Bank have agreed this.The OP did not have a single monthly premium. Thought it was a single premium policy. What aspect?RBS wrote:the only reason the policy was unsuitable for you was because we recommended a single-premium policy that did not pay a pro-rate rebate0 -
Moneyineptitude wrote: »Absolutely.
Your confusing the terms. A single monthly premium paying for both loan and PPI is the same as a single premium policy . The payments should have been separate and the Bank have agreed this.
No confusion here
a single-premium policy in this case-where the consumer makes a one off upfront payment. The cost of the policy is added to the loan and paid for monthly-on top of the monthly loan repayments.
Regular -premium policies-where a premium is paid on a regular basis-usually monthly.
If the bank
"think it is reasonable to conclude that, had we explained the nature of the restrictive cancellation terms you would have taken out a regular-premium policy as the benefits would have provided valuable protection for you".
What is their evidence to suggest that the customer would have brought any form of PPI?0 -
Since I have no access to the evidence the Bank have based their "full and final" response on, how can I know?What is their evidence to suggest that the customer would have brought any form of PPI?
The Op will need to refer this to the Ombudsman.
As I said, the payment method of the final PPI policy of my consolidation chain was set up correctly-so the correct payment method was definitely "available" to the Bank0 -
Moneyineptitude wrote: »Since I have no access to the evidence the Bank have based their "full and final" response on, how can I know?
The Op will need to refer this to the Ombudsman.
If RBS have followed the FOS guidelines re alternative redress,
"Where a business decides to use “alternative redress”, it might help the consumer understand the offer and reduce unnecessary referrals to us if the business explains its reasons to the consumer – and offers the consumer an opportunity to say why they feel alternative redress is not appropriate in their circumstances."
Hence my suggestion to phone the bank.0 -
Hi i have a ppi miss sell claim against first direct/magent windows... i was sold ppi protection on a loan which was provided through magent windows around 1997.. i have ALL the paperwork and statements, i contacted first direct who told me to contact magnet windows... magnet have sent me a letter threatening me for legal costs if i make a claim against them... i have now thought about directing this to fos
just wanted a opinion on this matter, i Was told that if i take out the ppi my loan would be accepted which is of course a miss sell and after i was provided no further information on this product...
any help would be greatly appreciated.0 -
https://forums.moneysavingexpert.com/discussion/comment/64714488#Comment_64714488davefairbrother wrote: »any help would be greatly appreciated.0
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