PPI Reclaiming successes and failures

cider66

marshallka wrote: »

Are they offering to put you back into the position as if you never had the PPI as there is no mention of the payments already made against the PPI or is that where they say refund of the premiums and interest..

If where they say refund the premiums and interest are they then removing the remaining PPI too and refunding that.

I would ask your Northern Rock to explain the redress offer more and ask if they are putting you back into the position as if you never had the PPI..

This is wot letter says
i have reviewed your complaint and comfirm we firmly refute yuor allegatin we mis sold the ppi on your loan. however, we would like to reach an amicable resolution and not enter into protracted correspondence with you. on that basis we will remove the ppi from your loan and refund the premiums and interest which totat £854.50. in addition we will pay 8% interest on your premiums paid totalling £115.99. the balance of the new loan, had you not taken insurance woulb be £2,282.17. this is the balance we will transfer to your new uninsured account. the APR will remain at your original rate of 5.8% and the totl amount payable will be £2342.20. the remaining term is 10 mounths and the new mounthly payment will be £234.22.
If you want to accept our offer please sign the enclosed form.
Following the completion of your uninsured loan we will transfer your refund to your bank normanly within 10 working days .

sorry its long winded but hope this helps sean

marshallka

cider66 wrote: »

This is wot letter says
i have reviewed your complaint and comfirm we firmly refute yuor allegatin we mis sold the ppi on your loan. however, we would like to reach an amicable resolution and not enter into protracted correspondence with you. on that basis we will remove the ppi from your loan and refund the premiums and interest which totat £854.50. in addition we will pay 8% interest on your premiums paid totalling £115.99. the balance of the new loan, had you not taken insurance woulb be £2,282.17. this is the balance we will transfer to your new uninsured account. the APR will remain at your original rate of 5.8% and the totl amount payable will be £2342.20. the remaining term is 10 mounths and the new mounthly payment will be £234.22.
If you want to accept our offer please sign the enclosed form.
Following the completion of your uninsured loan we will transfer your refund to your bank normanly within 10 working days .

sorry its long winded but hope this helps sean

Sean, to me that looks like a refund as if you never had it but I would wait for anyone else to confirm this. Perhaps you would get a better response on the PPI reclaiming discussion thread.

Sorry to not be 100% here but I would ring them or write to them and ask if this is like the position as if you never had the PPI at all.

long_legs

di3004 wrote: »

Hi there Long Legs

I take it this was your final response?
If so did they suggest the Financial Ombudsman Service? (with an enclosed leaflet)?


Right then hun if the above was added in the letter about the FOS check this out here:
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

There are forms you can download on the site or you can contact the FOS to post this to you, when you receive the forms, enclose all correspondence (copies) to add with the complaint form to include as much evidence as you can and the final letter from Northern Rock.

Keep at them and the FOS will look into this for you.

Keep us posted hun and don't forget there is also the PPI reclaiming forum next to this one if whenever you want any further help and info.

Good luck
Di
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hi di cheers for reply , yes they did say this was final answer and also that i can cancel policy now without change of interest rate etc but must respond within 14 days. No mention of refund for 6 months left that ive already paid for, not sure what to do about that one? Also enclosed leaflet about contacting ombudsman, didnt think it would be easy!

bobbilee

PPI
Egg
£1,439
one email sent and first template letter from this site!
Thank you Martin and everybody else who helps on here.

coddy_2

Hi, I'm new to all this and after reading posts etc i sent off letters for my husbands CO card for the PPI reclaim. We received a reply stating that the policy was sold over the phone on strict script so that it is clear and not mis-leading and that the full docs would be sent out and a 30day cancellation period applies. He took the card out in 2002 so i dont know where he stands is this just a letter to try fob me off from claiming. Can anyone help?

bobbilee

Hi coddy
egg told me that the agreement was made over the phone, so i asked for the proof, no reply from them about that ,just a letter within two weeks saying they were paying me! i would just carry on, i am sure they would like you to just give up!

di3004

coddy wrote: »

Hi, I'm new to all this and after reading posts etc i sent off letters for my husbands CO card for the PPI reclaim. We received a reply stating that the policy was sold over the phone on strict script so that it is clear and not mis-leading and that the full docs would be sent out and a 30day cancellation period applies. He took the card out in 2002 so i dont know where he stands is this just a letter to try fob me off from claiming. Can anyone help?

Hi Coddy and Welcome.;)

Just to say there is also a actual PI reclaming discussion thread next to this one, but never mind, while I'm here I may as well help where I can.;)


If this was sold over the phone I am wondering if they will supply a recording of the telephone call, it maybe worth asking for this, if they say they cannot then an SAR called a Subject Access Request could be sent, this they should supply to you through the post within 40 days, it costs £10 cheque or postal order payment where they MUST supply everything from the last 6 years.

Here is the template for the SAR, post by recorded delivery for your proof, if you require further help hun give us a shout here or on the PPI reclaim thread, good luck

Di

Your address

Their Address

Date

DATA PROTECTION ACT 1998
SUBJECT ACCESS REQUEST


Dear Sir/Madam
Your name: xxxxxx
Account No/ No’s



I understand that you currently hold details of my personal and financial information within your internal record systems with regard to personal loan accounts And or credit cards

Please supply me with a complete list of transaction and charges relating to my history with your organization, INCLUDING Loans and or credit cards, payment protection insurance and other products. Alternatively a complete set of statements for the accounts or associated accounts is acceptable. I would be grateful if you would provide the following for ALL accounts or associated accounts I have held with your organization:
-Full copies of all contracts which you believe exist or have existed between myself and your organization, including true copies of any documents you hold in support of the same.

- A complete list of all transactions or statements relating to ALL of my Loan Accounts and or credit card with your organization.

-Copies of all documents which include any of my personal information including copies of any contacts or invoices, emails or computer records containing my personal information, or any records which pertain to this information.

-Full copies or transcripts of any correspondence in postal, email or any other format which you have entered into with any individual, organization or third party which contains my personal or financial, or which pertains to me.

- Where any previous information or records held have been deleted or disposed of, the methods used to do so, including dates, certificates or references confirming details of destruction. Where you are unable to provide such certificates, please provide a declaration, signed by an authorised officer of your company, confirming the dates and methods of destruction of this data.

-Full hard copy print outs of my personal or financial information, held in a digital, magnetic or any other format which is held in any archives, backups or other storage devices / locations.

I enclose a cheque in the sum of £10 to cover your fee.

IF YOU UNABLE TO DEAL WITH THIS REQUEST, YOU SHOULD IMMEDIATELY FORWARD IT TO THE PERSON WITHIN YOUR ORGANISATION RESPONSIBLE FOR DATA PROCECTION.

I look forward to hearing from you in the first instance of receipt.

Yours faithfully


Your name

chartreuse_2

Hi all
So, after much posting on the other thread and many letters exchanged with RBS, I finally complained to the FoS about three PPI policies (it was a situation where I was led to believe that I'd need to take out the policies to get the loans).

Today I received a letter from the FoS saying that RBS had agreed to settle my complaint as a "goodwill gesture". It doesn't say how much they'll refund, but it does say that they'll calculate what I paid, calculate what I would have paid without the PPI, and give me the difference plus 8% interest from the date the loan was settled.

My questions are:
1. The letter refers to "loan" and "policy" - singular. But I complained about three. Is this something I should worry about?
2. Should the statutory interest be from when the loan was settled, or from when I gave them the money?

I'd be very grateful for any advice.

woodybuzz

I posted in October about my partners HSBC Graduate Loan and the Single Premium PPI -and went for it.

In a nutshell one letter and a holding reply later - £3194.65 refund!!!

Many thanks to Di and Marshallka for their inspiration and confidence.

She has a "re-structuring" meeting with the bank tomorrow so if I post some figures up can anyone lend a hand with the calculations and what she should expect?

di3004

chartreuse wrote: »

Hi all
So, after much posting on the other thread and many letters exchanged with RBS, I finally complained to the FoS about three PPI policies (it was a situation where I was led to believe that I'd need to take out the policies to get the loans).

Today I received a letter from the FoS saying that RBS had agreed to settle my complaint as a "goodwill gesture". It doesn't say how much they'll refund, but it does say that they'll calculate what I paid, calculate what I would have paid without the PPI, and give me the difference plus 8% interest from the date the loan was settled.

My questions are:
1. The letter refers to "loan" and "policy" - singular. But I complained about three. Is this something I should worry about?
2. Should the statutory interest be from when the loan was settled, or from when I gave them the money?

I'd be very grateful for any advice.

Hi there and well done :T :beer: :j , I would not worry hun, see what amounts they post up with and if you feel this is not right then you can always post up on the PPI reclaim forum where these can be checked for you, they usually put this right as if PPI were not taken, plus interest and generally 8% of what a court would award.;)

Hope this helps and don't forget to keep us updated on this cheers and again well done to you - WOW.......:T :beer: .

Di
x