PPI Reclaiming Discussion Part 5

Nasqueron

kernow321 wrote: »

Hello everyone!

I'd be grateful for advice regarding my PPI claim please.
Basically I've received a cheque from MBNA for £297.89 for the £179.05 I'd paid in 2006.
I have no experience in these matters and would appreciate some guidance on whether this is correct remittance.

After reading that people often turn down the first offer, I'm unsure whether this is correct route to follow.

Many thanks for your time

You only get back the amount you paid plus 8% simple (not compound) interest, you will not get any more simply by refusing the offer unless you can prove you paid more.

kernow321

Thank you!
I'm happy with what I've received, MBNA simply processed the payment and required no paperwork.
Simply checking.

MandainMilford

Hi, not done this before (posted on here or tried to reclaim PPI) - is it only direct bank loans/mortgages that can be claimed against, or do the same rules apply for credit agreements for purchases - I have several house improvement projects that were paid for by the suppliers' credit agreements with Barclays/Lloyds respectively

Nasqueron

MandainMilford wrote: »

Hi, not done this before (posted on here or tried to reclaim PPI) - is it only direct bank loans/mortgages that can be claimed against, or do the same rules apply for credit agreements for purchases - I have several house improvement projects that were paid for by the suppliers' credit agreements with Barclays/Lloyds respectively

You can complain about PPI if you had it and feel it was miss-sold to you. Do you know that you paid PPI and have any documentation proving you did? You would always complain to the person who sold it to you so if Barclays or Lloyds sold you the package, they deal with it, if it was provided by someone else, you complain to them.

If you have it and want to complain just send the FOS to the seller with your complaint reasons and any evidence you have

PSW

How long did it take MBNA to resolve your claim? If you do t mind me asking.

Nasqueron

PSW wrote: »

How long did it take MBNA to resolve your claim? If you do t mind me asking.

Every case is unique, what happened for one person has no bearing at all on how fast or slow yours will be

PSW

I'm aware of that, it was more out of passing interest.

j5emm

Mine was upheld within the 28 days then it took another 20 days for the cheque to come.

spekki

Advice please.

I believe I was missold PPI many years ago - 1995 I think - on a personal loan with NatWest. But:

I have no record of the loan account number or any statements

At the time I was forced by the bnank to take out a loan after they withdrew my student overdraft. They also insisted that the term of the loan must be short (from memory either 12, 15 or 18 months). I was working in a factory at the time and short of money so I agreed to take out PPI on the loan.

The reason I still remember all this is that a few months later I was made redundant and took my redundancy letter into the branch. I was then told that I couldn't claim PPI until the loan had been running for 6 months, and it had only been running for 5 months and 3 weeks.

So my case for misselling is that I wasn't told about this. I wouldn't have taken the insurance out if I'd known that I wasn't covered for anywhere from 33 to 50% of the term.

Do you think this is worth claiming for? It's been over 20 years as well (but I'm still annoyed about it).

Thanks in advance for your help!

dunstonh

spekki wrote: »

Advice please.

I believe I was missold PPI many years ago - 1995 I think - on a personal loan with NatWest. But:

I have no record of the loan account number or any statements

At the time I was forced by the bnank to take out a loan after they withdrew my student overdraft. They also insisted that the term of the loan must be short (from memory either 12, 15 or 18 months). I was working in a factory at the time and short of money so I agreed to take out PPI on the loan.

The reason I still remember all this is that a few months later I was made redundant and took my redundancy letter into the branch. I was then told that I couldn't claim PPI until the loan had been running for 6 months, and it had only been running for 5 months and 3 weeks.

So my case for misselling is that I wasn't told about this. I wouldn't have taken the insurance out if I'd known that I wasn't covered for anywhere from 33 to 50% of the term.

Do you think this is worth claiming for? It's been over 20 years as well (but I'm still annoyed about it).

Thanks in advance for your help!

Technically, you are timebarred from the complaint about not being eligible as it is past both the 3 year and the 6 year rule. However, general PPI complaints are not subject to timebars. So, you can raise your complaint about the sale of it.

Details may be limited but you tend to find banks do hold enough info on personal loans to be able to make a decision on your case.