PPI Reclaiming discussion

maisy

Does anybody know wether the ppi sold with a natwest loan, supplied by direct line insurance, can be claimed on for the full length of a 7 year loan or just the first 5 years, as martin said this is the case with many insurances.

gt568

maisy wrote: »

Does anybody know wether the ppi sold with a natwest loan, supplied by direct line insurance, can be claimed on for the full length of a 7 year loan or just the first 5 years, as martin said this is the case with many insurances.

Mine was only valid for 5 years of and 84 month loan.

absnasm

Having sent the first and second letters, I've finally had a letter from my RBS branch manager. Rather than saying yes or no, he simply asks me to call him to discuss the contents of the letter - letter singular, he doesn't state which letter. It's possible he only got one.

I also got a phone call a week or so ago from an entirely different woman who had received my second letter, but not my first, and also wanted to discuss my case over the phone. She asked me to clarify that the reason I wanted to reclaim was that I hadn't been told I could cancel. This was only one facet of what I was saying, but I told her I wasn't prepared to discuss it at work, and to write to me. She hasn't.

I'm not entirely comfortable with dealing with this over the phone. Firstly, if I call I have nothing in writing to prove what's happened or been said, and secondly, if I call I feel they're likely to use their financial knowledge, language and savvy in the area to confuse me and pull the wool over my eyes. I think I'm going to reply to them and say that if they have queries they should address them in writing and I will reply.

Has anyone else come across this telephone-based approach? Anyone else think it's sneaky and suspicious?

Annoyingly, on Monday it will have been two weeks since I sent the second letter, and now, as I have contact although no decision has been made, technically I can't go to the FOS. Grr.

gt568

absnasm wrote: »

Having sent the first and second letters, I've finally had a letter from my RBS branch manager. Rather than saying yes or no, he simply asks me to call him to discuss the contents of the letter - letter singular, he doesn't state which letter. It's possible he only got one.

I also got a phone call a week or so ago from an entirely different woman who had received my second letter, but not my first, and also wanted to discuss my case over the phone. She asked me to clarify that the reason I wanted to reclaim was that I hadn't been told I could cancel. This was only one facet of what I was saying, but I told her I wasn't prepared to discuss it at work, and to write to me. She hasn't.

I'm not entirely comfortable with dealing with this over the phone. Firstly, if I call I have nothing in writing to prove what's happened or been said, and secondly, if I call I feel they're likely to use their financial knowledge, language and savvy in the area to confuse me and pull the wool over my eyes. I think I'm going to reply to them and say that if they have queries they should address them in writing and I will reply.

Has anyone else come across this telephone-based approach? Anyone else think it's sneaky and suspicious?

Annoyingly, on Monday it will have been two weeks since I sent the second letter, and now, as I have contact although no decision has been made, technically I can't go to the FOS. Grr.

Insist on written communication.

maisy

gt568 wrote: »

Mine was only valid for 5 years of and 84 month loan.

I've read the paper work carefully twice, from my previous loan, and it doesnt say anything about the length of time I could claim, so I rang a number for Natwest insurance this week and I was told i could claim for the full term of the loan. I'm in the process of writing my first letter for a reclaim, I've got enough reason to claim I just want to have more ammo if they say no.

absnasm

gt568 wrote: »

Insist on written communication.

Thanks, I'll do that. I knew I was right!

m.colak

larf wrote: »

Hi, if there is anyone in the know who could help with this, I'd be pretty grateful. The bank has made me an offer which I am considering, they have added 8% statutory interest to the offer. In my letters I have asked for 8% interest which is the amount the court would award to be added up to the time the dispute is settled. What I want to know is, would a court normally award 8% compounded interest up to the present, or a one-off amount of 8% interest added to the offer? There would be a big difference in the amount of money involved. Are there any calculators I could use to work out how much the interest should be, once I've established which of the abo ve scenarios is more likely to happen? I feel I have been deprived of this money for all the time since I took out my policies, and that I should be awarded 8% compounded interest up to the present.

When you ask for statutory interest it is worked out over the period of the loan not as a compounded interest. You can either use the 8% calculator martin has provided with the bank charge reclaims letters or you can go to post #1629 (page 82) where i've put some equations to work rough amounts.

m.colak

garethjohnw1980 wrote: »

about 4 months ago i cancelled my ppi on my credit card , i ask why i was paying it and they said that i must have asked for it , i knew i didnt . they said that they would check my file but suprise suprise they couldnt find it . can i claim all the ppi back ?

In a word yes. At the end of the day they are charging you for a service you didn't require or want. Use the standard template letters request a list of the PPI charges and also for your money back.

m.colak

YEOSAL wrote: »

HI

Self employed since 1998.
LLoyds Tsb loan Nov 2001 over 60 months. £1400 ppi!!
DFS - Nova Finance Dec 2001 over 36 months. £240 ppi!

Sent first letters to both. Lloyds tsb said no and dont bother with FOS as out of time.
DFS rang and was incredibly rude to me! Got letter from them saying no.

Looks like I wont be able to lodge with FOS. Any ideas please???? Feel really foolish that I have been duped by them, but this is genuine misselling of PPI as only found out i had been paying for this after i had found this site and dug through all my old paperwork.

If you have a genuine case of misselling PPI log onto the MCOL website www.moneyclaim.co.uk and raise you claim through the courts. I would advise however you send a letter (registered of course) first to inform them as they aren't taking your claim seriously that you intend to take court action.

yorkshirerose

m.colak wrote: »

In a word yes. At the end of the day they are charging you for a service you didn't require or want. Use the standard template letters request a list of the PPI charges and also for your money back.

Just wanted to say congratulations to you both on the birth of baby colak. :beer: :j :beer: