PPI Reclaim Questions

simmo2002

Hi,

I am after some advice. I recently received a letter from NRAM with regards to a Northern Rock Loan I had stating that I could reclaim the PPI I completed the form and am waiting to hear back. This did however prompt me into starting to claim on my other loans/credit cards - but I am not sure how successful I will be!

Unfortunately in August 2006 I ran into financial problems (probably not helped by all the PPI I was paying) and ended up seeing the CAB to enter into a Debt Management Plan (DMP). I had loans and credit cards with HSBC loan, Capital One CC, Cahoot loan, Amex CC, Mint CC, Natwest CC, Ikea Storecard. In 2009 I was fortunate that my parents offered to give me the money to clear the debts and with most of the creditors I ended up agreeing a 50% FULL AND FINAL settlement of the debts. The only ones that did not agree were Natwest CC, Mint CC and Cahoot (now Santander) and I am still on a DMP with these.

When I looked back I have paid over £20,000 pounds across all these companies from 1996 to 2006 in PPI and hence I am trying to claim it back. I have not got all the original paperwork so I wrote to all the companies (recorded delivery postage) sending a pound and asking for a copy of the agreement within 15days (as stated on the Money Saving Website - using the template). I have heard back very promptly from AMEX with a figure of what I paid in PPI so I have taken the next step asking for this back as I was mis-sold using the questionaire template. I also headr back from Capital One stating that I never had PPI with them (I can not recall if I did or did not with them and that they are no obligation to send me the initial agreement as the loan is now settled and no further monies is owed) - do I believe them?

I have not heard from any of the other companies and however I can see that Cahoot and HSBC have cashed the one pound cheque. The 15days is now up - what shoulkd be my next step in getting the information I have requested - or should I go straight to asking for my SAR for all the companies? (And will they give me this info as far back as I require?

Any help is greatly received.

If I can reclaim my PPI I can then pay back my parents the money I owe them and clear the other debts I have.

Best regards,
Paul.:)

misschicken

Impossible to say with regards to Cap One - an SAR might provide you with the evidence one way or another. If you know you had PPI on HSBC and Cahoot and you have a clear reason why you were mis-sold then you don't need to wait for a copy of your agreement. Again they probably won't send it to you anyway if the account is closed or very old, but they should have responded and told you that if that's the case - so chase them if you want to. With regards to an SAR, banks are only obliged to keep records for 6 years as a rule of thumb. An SAR can turn up archived records beyond that date but they simply may not have them any more and they can't send you what they don't have. Again, if you have a concrete reason for complaint then dive on in and send off complaint letters instead. Also remember that any refund from a successful complaint will go towards paying off outstanding debt first and you'll be given what's left over. I'm not sure about the ins and out of refunds and DMPs but there's been plenty of people asking about this on the forum so do a search if you need more info on that. And good luck with them all

simmo2002

Thanks misschicken for the advice.

A bit of an update - I have received my PPI from NRAM (had a Northern Rock Loan which I paid off early) I had no way of checking the figures sent but looked close enough with the 8% interest added, so I have ssent my acceptance form.:)

AMEX have replied to my claim letter to say that they are looking into it and be back in touch shortly - at least I have heard from them with an aknowlegement.

Now going to follow-up with the other companies - following on from misschickens advice I will be going straight for a complaint.

TRACEY99

We have a mortgage originally with Northern Rock now with NRAM which we took out around the same time as 2 of our friends they are both claiming back money from mis-sold PPI. we wondered if we could do the same? I have asked them what promted them to do so? They said they received a letter sent it back hey presto big cheque. Like us PPI was not taken out of their account separately or shown on any of their documentation? We have not received a letter is there anyway we can investigate this ourselves? as if i knew we had it there are 2 times in our mortgage when it would have been useful to know

amersall

TRACEY99 wrote: »

We have a mortgage originally with Northern Rock now with NRAM which we took out around the same time as 2 of our friends they are both claiming back money from mis-sold PPI. we wondered if we could do the same? I have asked them what promted them to do so? They said they received a letter sent it back hey presto big cheque. Like us PPI was not taken out of their account separately or shown on any of their documentation? We have not received a letter is there anyway we can investigate this ourselves? as if i knew we had it there are 2 times in our mortgage when it would have been useful to know

Give them a ring and ask. 0845 6099610*