Natwest ppi claim-help anyone

Matt2470

Hi guys

I hope you can help me I have never looked into the ppi claims procedure until yesterday when my friend told me that I should, I've always been a bit wary of doing it as I don't know if it would affect my banking relationship with Natwest but anyhow I contacted them as since June 2006 I have had 4 loans with Natwest including the one I have now each of them a greater amount to pay off the last. I called the ppi team at natwest and asked if he could look back as I have no paperwork and he said no I would have to write which can take up to 60 days to get an account history, this I thought was the first evasive move and should I give up, but I had the idea of contacting Natwest loans department and asked for a balance on my current loan and after going through security asked if he could see the other 3 and bingo!

The helpful man has provided me with loan amounts dates reference numbers account numbers and sort codes along with confirmation that all 4 loans had ppi including my current one with £5500 just on ppi, they all amount to about £10000 just on ppi so my question is a) so do I have all I need to launch a complaint and b) is it going to be worth the hassle is there major form filling and letters back and forth do
I stand a chance? I was 21 when i took the first one out and I don't remember them saying it was optional

I'm a little naive to this any advice would b greatly appreciated

Thanks guys

Matt :-)

dunstonh

so do I have all I need to launch a complaint

You have info on the loans. The only thing you havent mentioned is if you have reason for complaint. Being 21 and not remembering are not grounds for complaint.

is it going to be worth the hassle is there major form filling and letters back and forth do

There is a form to complete.

do I stand a chance?

As you havent told us what your reasons for complaint are we cannot tell you what your chances are.

jay-1

Was the PPI added on to the cost of your loan - a loan on top of a loan with interest added? If it was then it is front loaded PPI which is a valid complaint reason and one worth pursuing.

If you were paying one direct debit for ppi and another for your loan then it is not front loaded.

Matt2470

Thanks it was all paid as one direct debit each month and I remember I wasn't advised it was optional and I could opt out it was simply part of the loan if I lost my job and couldn't afford repayments and the further 3 Loans were just top ups sign here job done I wasn't even in the room half an hour on my last one

dunstonh

I remember I wasn't advised it was optional and I could opt out it was simply part of the loan if I lost my job and couldn't afford repayments and the further 3 Loans were just top ups sign here job done I wasn't even in the room half an hour on my last one

Ok. That is your complaint reason. All you need to do is provide your evidence of that and they will uphold it. If you have no evidence then you will have to be reliant on another failing to succeed.

jay-1

Your complaint then should be front loaded PPI that was applied to your loan and that the full cost and unfair rebates were never explained to you.

You have a strong reason for complaint - if you go onto the PPI reclaim sub board (this one is for relaiming bank & CC charges) and search "front loaded PPI" you will see why this is considered bad practice.

dunstonh

The only caveat is that the FOS do not automatically consider single premium to be bad. It once was considered bad for all cases but that doesnt appear to be the case any more.

Matt2470

dunstonh wrote: »

Ok. That is your complaint reason. All you need to do is provide your evidence of that and they will uphold it. If you have no evidence then you will have to be reliant on another failing to succeed.

Thanks for your advice, how do I prove a conversation between me and advisor 6 years ago this is what I mean is it too much hassle than its worth and do I risk upsetting my relationship with my bank when it's my word against theirs

dunstonh

how do I prove a conversation between me and advisor 6 years ago

You cant in most cases. This is why most complaint reasons based solely on verbal allegations fail. It requires another failing or getting lucky with auto payout (which is less common today than a year ago). Dont rule out single premium. It is still a strong complaint reason. Its just not the 100% reason it once was.

do I risk upsetting my relationship with my bank when it's my word against theirs

No.

Matt2470

dunstonh wrote: »

You cant in most cases. This is why most complaint reasons based solely on verbal allegations fail. It requires another failing or getting lucky with auto payout (which is less common today than a year ago). Dont rule out single premium. It is still a strong complaint reason. Its just not the 100% reason it once was.


No.

Ok thanks so you think my best course of action is to contact them direct and complain that the single monthly payment didn't show the ppi element and that it was never explained that this was optional do you think that is how I should go about it and do
I make 4 seperate claims for the 4 loans thanks for your advice on this

jay-1

dunstonh wrote: »

The only caveat is that the FOS do not automatically consider single premium to be bad. It once was considered bad for all cases but that doesnt appear to be the case any more.

I realise that some front loaded PPI claims are failing but I would think that as Matt had a number of loans paying off the previous then the unfair rebates would have been compounded?

As you say it is still a stronger complaint reason than hearsay.