PPI Reclaiming Discussion Part 5

ozbird1

Hi


I have today received confirmation that Tesco have finally decided to make me an offer. I had to go to the Ombudsman and they appealed a number of times (on-going for over 2 years)
My credit card has had ppi on since 1997 unknown to me (numerous operations across that time & never claimed nor would I have been able to)
Just need to wait 8 weeks for their offer (which I'm sure they will drag out as long as possible) but feeling very positive about it + this site & everyone who has helped out. Thanks

Nasqueron

Out of curiosity, did you give any other reasons for miss-sale ozbird1? You note that PPI on your CC was "unknown to you", yet it would have been on every statement where you had a balance as it increased the total you owed so that would be more a case of not looking rather than not knowing - why did Tesco reject in the first place? Seems odd the FOS would uphold on that basis alone which is an easy defence for Tesco as they could show it was on your statement.

incesticde

Hi Folks,
(long ish story so bear with me)

In my younger and more stupid days I took out a graduate loan in 1997 and a subsequent further loan in 1998 with Natwest that included PPI.

In 1999 I lost my job and was basically living on a mate's sofa and didn't update my bank with my new address after they said I was unlikely to be able to claim over the phone so didn't pay anything and ran away from the debt (yeah I know).

Fast forward to 2002 and I decide to sort my debts out, start paying off the bank debt (loan and current account) via a DCA. Debt at this point was £8500 (ish).

Now at 2008 and I've paid off £5500 off the debt, DCA try a sneaky one (see https://forums.moneysavingexpert.com/discussion/756749= ) so I ask for a CCA and the bank (not the DCA) close the account requesting no further payments required.

In 2012 I try a PPI claim and get back an answer saying my loan application in November 1999 shows PPI was not selected so claim was rejected.

Two weeks ago whilst doing some filing I find this letter and suddenly realise I took my loans out in 97 and 98, the time of the loan mentioned in this letter was after I lost my job and had not paid or contacted the bank for months.

I think what has happened is the bank wrapped up my outstanding loan and account debt into a loan and I have been paying that off (a quick check of the sort code that was referenced by the DCA shows the bank to be a arrears collection branch), this would also explain why there was no ppi on this 'loan'

I have sent a SAR off to the bank so I'll get more information in a month or so, in the meantime I was wondering

(1) Would the 1999 loan be a wrap up loan of all the previous debts?
(2) What exactly can I expect back, if anything, from RBS/Natwest re the SAR. It's been over 17 years since the first application and over 6 years since the debt was paid off/closed
(3) I should have no problems claiming again seeing as my initial application was declined?
(4) If, at the end of all this, I get a PPI settlement will they offset it against the £3000 left outstanding (seems fair enough if they did ( but they closed the account, this was not a settlement like other examples I have seen on this forum)

Thanks in advance for reading this very long post and for any and all help

justinho

I never made an I initial claim but my bank rbs sent me a letter saying I had 6 potential ppi mis selling claims

I didnt do anything about it for months eventually sending back the form they sent me with very sparse Information on it

I then got a letter saying they found no record of ppi on one of the claims and then a couple of weeks letter another 5 letters offering me a total of 2600 pounds

I have absolutely no idea if this is a fair offer and wether I should just accept it does anyone have any advice for me ?

amersall

justinho wrote: »

I never made an I initial claim but my bank rbs sent me a letter saying I had 6 potential ppi mis selling claims

I didnt do anything about it for months eventually sending back the form they sent me with very sparse Information on it

I then got a letter saying they found no record of ppi on one of the claims and then a couple of weeks letter another 5 letters offering me a total of 2600 pounds

I have absolutely no idea if this is a fair offer and wether I should just accept it does anyone have any advice for me ?

It depends on what PPI you actually paid and if the loans were repaid with the next loan.
If you or the bank have no info regarding these loans then you will have to accept this offer, ask the bank for the calculations they made and post them on here.

ladywho

Hello, I'm new to this forum, I wondered if anyone could help me.

I had a PPI complaint with Littlewoods. My complaint was upheld, they agreed it was mis-sold. My total refund amount was due to be £700+

However, as I have had a succesful claim on Accident & Sickness circa 2008, they have subtracted the claim value (£1,300) from the refund total, leaving it at £0! :mad:

My question is: do I have a leg to stand on here? What would my argument be re: the claim.

Any help would be appreciated.

Brokerwise

ladywho wrote: »

Hello, I'm new to this forum, I wondered if anyone could help me.

I had a PPI complaint with Littlewoods. My complaint was upheld, they agreed it was mis-sold. My total refund amount was due to be £700+

However, as I have had a succesful claim on Accident & Sickness circa 2008, they have subtracted the claim value (£1,300) from the refund total, leaving it at £0! :mad:

My question is: do I have a leg to stand on here? What would my argument be re: the claim.

Any help would be appreciated.

Are you on a wind up ?

ladywho

No..... why?

Insider101

ladywho wrote: »

Hello, I'm new to this forum, I wondered if anyone could help me.

I had a PPI complaint with Littlewoods. My complaint was upheld, they agreed it was mis-sold. My total refund amount was due to be £700+

However, as I have had a succesful claim on Accident & Sickness circa 2008, they have subtracted the claim value (£1,300) from the refund total, leaving it at £0! :mad:

My question is: do I have a leg to stand on here? What would my argument be re: the claim.

Any help would be appreciated.

Simple answer, no. The FCA rules specifically allow them to take this approach. Basically, regardless of whether you were missold the cover you are not financially worse off, I.e you've actually gained from having it. Therefore, no redress is due.

[Deleted User]

ladywho wrote: »

My total refund amount was due to be £700+

However, as I have had a succesful claim on Accident & Sickness circa 2008, they have subtracted the claim value (£1,300) from the refund total, leaving it at £0! :mad:

Actually, you have still received about £600 more than you actually paid (and that's without taking account of the 8% interest which makes up part of your £700+ redress).

If you read your letter, you will see that nowhere do the Bank actually state that they admit liability for mis-selling you anything. It's a goodwill payment which they have been able to claw back because you to claimed on the insurance.

Upholding this complaint costs the Bank nothing and improves their complaint statistics. It's rather a win for the Bank and you can hardly complain to the Ombudsman.