Natwest PPI form

regularguy007

Hi all

I got sent this letter from Natwest from a personal loan I took out 6 years ago. I obviously would be very happy to get something back but not sure how to approach the form:

(1) As I don't have those old bank statements, how will I know if PPI was on the policy? Does the fact that I got a this letter mean I did take PPI, but now they're deciding if it was mis sold?

(2) The loan was for 5k - is there anyway of understanding what my returns could be?

(3) Does anyone have any advice on how best to answer these questions on this form? I've looked at other resources but the questions seem different?

Thanks

-taff

1 - No they're starting a time bar for complaints so they're writing to everyone who had it
2 - no
3 - answer honestly. If you can't remember, say so.

regularguy007

-taff wrote: »

1 - No they're starting a time bar for complaints so they're writing to everyone who had it
2 - no
3 - answer honestly. If you can't remember, say so.

Thanks for that - is it fair to say honesty is still the best policy here? They will be obligated to pay out if they find any misdemeanour's on their side? A lot of websites imply that one needs to stretch the truth to get something out of the banks, otherwise they won's payout

-taff

Well put it this way - if you lie on the form, you say something happened that didn't happen, your complaint will be rejected. The chances are your recollections will be false if you were pushed to make some, rather than just say 'I don't know', so the likliehood is that you will guess wrong, and then your complaint will be rejected immediately.

The only thing I can say with certainty given the year it was sold [if it was a personal unsecured loan] is that it was single premium. Which means the full cost ofthe PPI was never explained, that it was a loan to borrow money to pay the PPI and that the loan for the PPI was then charged interest on for the legnth of the loan, and that had you cancelled it during the cooling off period, you would not have recieved the entire amount plus interest back.