PPI Reclaiming discussion

Lee420

Hi,

I completed Martin’s template letter with regard to PPI on a previous loan and sent it to my bank (Natwest). This was almost six weeks ago and I am still waiting for a response!!

I have reached the conclusion that Natwest have ignored me so was wondering about sending a copy of my letter with a cover note explaining “this was sent blah, blah, blah” every week until someone responds to me. Therefore my reason for this post was to see what the general feeling was regarding this type of approach?

To think that Natwest feel they can ignore customers infuriates me, I think I deserve a response regardless what the outcome may be. I have been a customer of Natwest for a number of years now, but since the discovery of Martin, a change is in the pipeline!

Any advice anyone can offer on this would be much appreciated.

Thanks,

A soon to be ex Natwest customer!

redeye01

Hi Martin

I have been offered a full refund of my PPI on a loan taken out with my bank. (This was a case of you cant have the loan without the protection, even the APR was high)

The protection was a single PPI premium of £5303.24 added to the loan giving a total of £30,303.24 with a fixed rate of interest of 0.79% per month over 60 months (APR 9.9%)

They have offered to pay back the premium plus interest, however I believe that this is interest on the Insurance premium only.

What do I need to do to get the loan re-adjusted as well as getting back the interest portion of the increased cost due to the PPI being added on?

I will of course accept this offer, but need to know what to do next as I believe that my loan will need to be re-calculated to take into account the new figure.

Can you please help?

Thanks

michellew_2

Lee420 wrote: »

Hi,

I completed Martin’s template letter with regard to PPI on a previous loan and sent it to my bank (Natwest). This was almost six weeks ago and I am still waiting for a response!!

I have reached the conclusion that Natwest have ignored me so was wondering about sending a copy of my letter with a cover note explaining “this was sent blah, blah, blah” every week until someone responds to me. Therefore my reason for this post was to see what the general feeling was regarding this type of approach?

To think that Natwest feel they can ignore customers infuriates me, I think I deserve a response regardless what the outcome may be. I have been a customer of Natwest for a number of years now, but since the discovery of Martin, a change is in the pipeline!

Any advice anyone can offer on this would be much appreciated.

Thanks,

A soon to be ex Natwest customer!

I would give thema ring first to try to confirm they got it then get the name / dept of who's dealing with it, speak to them and get a timeline.
The option is take a copy of your letter and a cover note to your branch and get a receipt for it - they cant deny its existence then - I'd try the first option first though.

katiekittykat

I sent my letter to Natwest and had a reply within 3 days telling me they will be in touch again by 22/11 with a decision!

steve1976

Hi Everyone,

I took a loan out a few years ago with a company called GM Custom finance and after reading the artical on this site I now realise that I was sold insurance by faulse info. They said I had to have it to get the credit. So I thought I would try and get my money back but after a quick scan on the web, It seems that GM Custom Finance is no longer trading. Is there anyway I can still claim?

Regards Steve

Hendrix_lennon

I've noticed that several companies appear to have sprung up from nowhere claiming they can help you reclaim your PPI.
No smoke without fire as they say.
Looks like Martin has uncovered yet another scam by the financial sector to rip of consumers.
The guy is an absolute champion.

Like most people I'm still unsure whether I qualify to reclaim or not.
Until there's a flood of succesful reclaimers helping people along I guess it's going to be a long time before people know exactly what they should be doing.
I'll be keeping an eye on this forum and hope it all becomes a bit clearer for me.

sc0tsman

I have been given this fob-off response from GE Money and require urgent assistance as to where I go from here.

In regard to the comments you have made in relation to the recent breach of FSA principles this account and the administration is dealt with by GE Money Home Finance Limited. The insurance administration is dealt with by Genworth with no connection with the recent ruling made against GE Capital Bank. GE Capital Bank is a separate company from GE Money Home Finance.

I would advise you that Credit Link sold you the policy, therefore any questions about the quality of the sale will need to be taken up with them directly

Now to me it looks like they are trying to pass me around the houses, however all documentation pertaining to this loan all come from GE Money.

Where do I go from here as these guys are making me more angry by the minute?

MaxedOutKev

Hi all,

Sorry to jump on at the end of this thread, but I'm so confused about all of this. I've been reading through and slowly becoming cross-eyed.

NBot sure what I need to do:-

• Had Credit Cards with Lloyds TSB (since Jan 04), Tesco RBS (since Jun 02) and MINT RBS (since Oct 02) and was paying PPI on all of them.

• Have got the statements to prove the payment.

• I've been in fulltime employment since I've had the cards, never used the PPI, all cards were applied for through the post, I've never defaulted, and have only cancelled the PPI recently when I finally realised what it was.

Am I in the position to reclaim PPI charges, and if so, what's my next step? What would be my reasoning for reclaiming the PPI?

Would appreciate any feedback/comments/help.

Many thanks,

Kev

sc0tsman

I have been given this fob-off response from GE Money and require urgent assistance as to where I go from here.

In regard to the comments you have made in relation to the recent breach of FSA principles this account and the administration is dealt with by GE Money Home Finance Limited. The insurance administration is dealt with by Genworth with no connection with the recent ruling made against GE Capital Bank. GE Capital Bank is a separate company from GE Money Home Finance.

I would advise you that Credit Link sold you the policy, therefore any questions about the quality of the sale will need to be taken up with them directly

Now to me it looks like they are trying to pass me around the houses, however all documentation pertaining to this loan all come from GE Money.

Where do I go from here as these guys are making me more angry by the minute?

Mark_84

I previously took out PPI insurance on a car loan back in January 2005. The PPI was added on as a lump sum £1459.28. I bought the car via a dealer but the finance was provided by black horse who i repaid on a monthly basis. After reading martin's articles i decided to use a template and send a letter to black horse informing them that i had been sold PPI as a lump sum and that because i repaid the whole loan early (March 2007) I felt i was entitled to a part refund because the PPI was for a total of 4 years and i paid the load of after 2 years.

Black Horse have replied to my letter saying ' I am sorry that you feel the PPI covering your agreement has been mis-sold. It is important that we are made aware of any instance where our customers feel dissatisfied. As the insurance was sold by Dealer Name and not by us, I have passed a copy of your letter to them and asked that they investigate the issues you have raised and respond directly to you.'

I feel it is Black Horse who are responible as it is them who i re paid early not the dealer ?

Thanks

Mark