PPI FAQs discussion thread

dunstonh

Surely that money should go to me directly shouldn't it ?

Often the money is refunded to the same place it is paid from. If it puts you in credit, they will usually send you a cheque at no cost.

But again they have pocketed it.

Not sure how you work that one out.

-taff

If you owe them money, they can use any redress against that first.

LITTLEROCKY3

nationwide offered me £2095.00 said they would pay me by cheq because my credit card was cancelled i signed the letter for my money and sent it off a week later they said that it was there fault they made a error so they will not pay me because i still owed money on my account but i thought if you have had a offer and signed for the money its a contract so you should be paid its not my fault if they made the error does anyone know if i should get paid due to there mistake or not i would like to know

kimbokoo

Hi
I rang up my bank (Natwest) last week to see if I had paid any PPI on my previous loans (i have had loans for about the last 10 years).
They told me that I had paid PPI on the following loans :

09/01/04 - Loan of £1500
07/10/04 - Loan of £3500
05/02/05 - Loan of £5100

All of the above were consolidation loans, so I paid of the current one and then added more on top.

I have received a reply back today offering me a goodwill gesture of

£123.01 (£78.32 PPI refund and £55.86 interest then minus tax)
£126.76 (£82.52 PPI refund and £55.30 interest then minus tax)
£1,177.52 (790.59 PPI refund and £483.66 interest then minus tax)

Have got a few questions really?

Will the above refunds of PPI be the full amount of PPI I paid (or near enough) or is it going to be worth pursuing this for more?

Can I find out how much PPI I actually paid?

If I was to not reply to the letter and go to the Ombudsman, and say they didnt think I was intitled to more, would I lose this goodwill getsure by going the Ombudsman or can I look into it with them, if they say, we think the gesture is fair, then go back to the bank and take it (basically, if i dont accept, could i end up with nothing?

Also, I do still have a Loan with the Natwest which still has another 6 years on it - if I was to accept their offer, are the above amounts just knowcked off what I owe on the loan?

Do i be happy with what they are offering or go for more?

[Deleted User]

kimbokoo wrote: »

basically, if i dont accept, could i end up with nothing?

Basically, yes.
The Bank could withdraw their offer if you go to the Ombudsman and, if FOS don't uphold your complaint, you could indeed end up with nothing.
In addition, a FOS referral takes around eighteen months.

alisonsaye

has anyone had success in reclaiming ppi from these companies ?? Ive tried with a ppi company who say they dont deal with them, and im struggling to find anyone who does, or any information leading to these companies ?? can anyone help me ??

thanks

dunstonh

LITTLEROCKY3 wrote: »

nationwide offered me £2095.00 said they would pay me by cheq because my credit card was cancelled i signed the letter for my money and sent it off a week later they said that it was there fault they made a error so they will not pay me because i still owed money on my account but i thought if you have had a offer and signed for the money its a contract so you should be paid its not my fault if they made the error does anyone know if i should get paid due to there mistake or not i would like to know

You are wrong I'm afraid. An error does not entitle you to the money.

I am sure they will refund you if you pay them back the money you owe though.

redcargirl

My loans were about 20+ years ago and the HSBC say they only keep records for the last 6 years. Do I accept this or is there anything I can do?

[Deleted User]

redcargirl wrote: »

My loans were about 20+ years ago and the HSBC say they only keep records for the last 6 years. Do I accept this or is there anything I can do?

If the bank have no records and you don't have any in your personal archive then your "complaint" is dead before it begins.

If you don't believe the Bank you can send them a Subject Access Request (SAR) letter which will cost you £10 , but net you everything they have on file for you for at least the last six years or (sometimes) more.
Excellent template here;
https://forums.moneysavingexpert.com/discussion/1475553

Do note that it's not simply having PPI that entitles you to a refund, it would need to be mis-sold to you.

Do you even know for certain that you had PPI on these two decade old loans?

bazantil

Hi,

I am new to the forum so I apologise if this has been posted in the wrong area....

I recently contacted the Financial Services Compensation Scheme regarding a PPI claim and they referred me onto Financial Services Commission in Gibralter, basically they are telling me that my broker changed their name in 2003 and now they are pending liquidisation.

Does this mean that I am unable to claim or can I go straight to the Ombudsman now rather than wait for the 8 weeks to clear? (if appropriate).

Any advice much appreciated.....