PPI Reclaiming Discussion Part 5

keetch54

I put in a PPI complaint to Marks and Spencer in 2011 which was rejected ( period covered 2000 - 2009 but chargecard was taken out in 1985) .
Today , out of the blue I received a letter from them stating they had reviewed the complaint, referring to my original letter of 2011 and it was being upheld. The amount they are offering is huge.
However, I am very nervous . There is a breakdown , and an acceptance form saying I should receive a cheque in 4 weeks then the complaint will be closed. There is also a line stating they have the right to withdraw the offer at anytime.
Am I right to be nervous ? It has really taken the wind out of me !

fozmcfc

Panthercollection wrote: »

Hi folks,

I have registered today as I have a couple of questions. I have been a long term reader over the years and have got plenty of advice. However it's come to the point I need to ask something.

Anyway, I have just started a PPI complaint with Natwest bank. I do not have any paperwork. I took the loan out in November 2004 for £5000 a few years later I increased it to approx £15,000. This was to pay back what was left on the original loan. I then consolidated my loan payments with my overdraft which took it to approx £17,500. I then consolidated my loan again to lower the monthly payments. All with Natwest.
I have been made an offer which personally I think I'm happy with bit I just want to make sure I have not been done over.

The offer £1,185.92

Am I entitled to call them and ask them HOW they came to that amount or should I just accept it?

Should I get the financial ombudsman involved or would that make it worse?

Many thanks.

It's very low compared to mine with Natwest, for which I got £5800.

I had 3 loans with Natwest all with PPI, first one around 1999 for £2000, second in 2004 for £5000 and the third one in 2007 for £7500.

I paid the first one off over the loan repayment terms and that was that.

The second £5k loan, had a balance of £1000 - £2000 to pay off, when I got a phone call to ask if I wanted to refinance it etc... I said yes. They offered me £7500, which I took and paid off over the full 5 year term.

So in total £14500 in loans, with a PPI payout of £5800.

-taff

keetch54 wrote: »

Am I right to be nervous ? It has really taken the wind out of me !

Nervous about what? They're upholding your complaint.....

keetch54

-taff wrote: »

Nervous about what? They're upholding your complaint.....

This came completely out of the blue . Received rejection in 2011 and just said 'oh well' and forgot about it ! Didn't bother taking it to Ombudsman etc .
I think I'm entitled to be nervous as amount in question is in excess of £20,000 - a huge amount by anyone's standards.
I though I would share this just to prove that good things do happen sometimes.:D

[Deleted User]

keetch54 wrote: »

I think I'm entitled to be nervous

Excited= perhaps, but "nervous"= no.
They've already confirmed in writing that they are paying you this money. All you have to do now is wait.
Congratulations, I received a similar amount two years ago.

fozmcfc

I'd be apprehensive in keetch54 case myself, that they are going to say, it's all been a terrible mistake and you aren't entitled to it.

But then I admit, I can be one of lifes worriers, over even reasonably small things.

I'm sure you'll be fine though keetch, do confirm that everything works out and enjoy.

keetch54

fozmcfc wrote: »

I'd be apprehensive in keetch54 case myself, that they are going to say, it's all been a terrible mistake and you aren't entitled to it.

But then I admit, I can be one of lifes worriers, over even reasonably small things.

I'm sure you'll be fine though keetch, do confirm that everything works out and enjoy.

You are right- still won't believe until I have the cheque in my hands !
Thanks

eneyecee

I have received a letter from Natwest about the mis-selling of PPI & a form to fill out. I'm finding the form tricky to fill out & could do with some help/advice. Has anyone had similar & can give me some tips?
Thanks all

[Deleted User]

eneyecee wrote: »

give me some tips?

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

lorraine_palfrey

Hi can I please have some advice I got a letter from black horse today saying they couldnt find us on there system, and I have been down to the banks to see if I could find bank statements with direct debt for a reference number but the banks cant help us as the information we are after is between 2003 and 2007 . How do I go about gettingmy agreement details for black horse
Thank you