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Would I get a PPI letter if I didn't have PPI?
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tbourner
Posts: 1,434 Forumite
I was absolutely certain I didn't have PPI on my NatWest loan, the APR and monthly payments work out to the amount of the loan (unless I picked up the wrong APR somehow).
But yesterday I got a letter from them saying I had PPI and it may have been missold etc. I'm quite surprised as I definitely don't need it and would have declined had it been offered, even 6 years ago I knew what it was and that I didn't need it. From memory I'm pretty sure it wasn't even mentioned when we took the loan out.
So would they send a letter out in error? Or do they just blanket letter everyone with loans? Or is there some way I've miscalculated the data and there was a PPI hidden in my loan?
But yesterday I got a letter from them saying I had PPI and it may have been missold etc. I'm quite surprised as I definitely don't need it and would have declined had it been offered, even 6 years ago I knew what it was and that I didn't need it. From memory I'm pretty sure it wasn't even mentioned when we took the loan out.
So would they send a letter out in error? Or do they just blanket letter everyone with loans? Or is there some way I've miscalculated the data and there was a PPI hidden in my loan?
Trev. Having an out-of-money experience!
C'MON! Let's get this debt sorted!!
C'MON! Let's get this debt sorted!!
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Or is there some way I've miscalculated the data and there was a PPI hidden in my loan?
It cant be hidden. It would appear on the loan documentation and statement.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
The statements just have a single payment coming out and nothing else mentioned. I can't find the agreement (it was 6 years ago!).Trev. Having an out-of-money experience!
C'MON! Let's get this debt sorted!!0 -
So, you know you had it. You just need to decide if you feel it was mis-sold or not and put a complaint in if you do.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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So, you know you had it. You just need to decide if you feel it was mis-sold or not and put a complaint in if you do.
No I didn't/don't know, in fact I was fairly certain I DIDN'T have it! I have a folder of bank stuff including some NatWest joint account bits but nothing on the loan apart from a few old paper statements. They just have lots of the payments showing of the £266.99, doesn't mention PPI payments.Trev. Having an out-of-money experience!
C'MON! Let's get this debt sorted!!0 -
Does the letter you received have a contact number? Some banks have dedicated teams for dealing with questions that spring from these letters, get in touch with them and get some clarity.0
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