PPI Reclaiming successes and failures

Stutwo2

• What were you reclaiming: PPI on a bank loan
• Who was the provider: NatWest
• How much did you get back: £1675
• Did you get it back after a letter or did you go to the Financial Ombudsman: Just contacted Natwests PPI department, all done over the phone

Much easier than I expected, had a loan of £5000 2006-2009, rang Natwest customer service, put through to the PPI section and was asked the usual questions. I told them I thought it was compulsory and the loan wouldn't be accepted if I hadn't had PPI.



Five weeks later they send me a letter offering the return of the £1220 PPI and interest to make it up to £1675. Very pleased!

Stutwo2

Tezza1986 wrote: »

I've written to Natwest requesting my loan account details and if PPI was paid. They have send me a letter today quoting only one account number and sort code. Does this mean PPI was paid? The loan was for ten grand... So i'm not sure where to go from here? Do i write to Natwest or phone the freephone number to register a complaint?

Thank Terry

See my post above, they have a PPI section to speak to. They do the questionnaire over the phone and send you a letter confirming the claim. Took 5 weeks for me from start to finish.

penny_1980

amersall wrote: »

I am surprised that due to the year they did not tell you they were not regulated and you have no claim.
Contact FOS and ask what you can do, they may suggest the insurer route.
If you paid the ppi in one monthly payment with the loan, this is Single Premium PPI and this is the reason that you use if you can chase the insurer as the insurer may have been regulated at the time.

Hi Amersall, thanks for taking the time to reply.

There have been a couple of people posting with tesco wins for loans taken out in 2001, so I guess for some it has worked out. Need to check the paperwork that I've got to check for the single premium issue.

joycey2

We have just received a cheque from FSCS for claim against Norton- only taken 4 weeks after sending form!!! I can't believe it!!!:j
I'd like to thank Amersall and all of those people who have posted on MSE, if I hadn't visited this site I would not have known what to do.:beer:
Just one question - will Picture,who the loan is with, now reduce the monthly payment for the interest on the PPI???? Will I have to contact them to cancel the PPI???

Thanks
x

sharonkindly

Hi all

Just wanted to let you all know that last week my fiance successfully reclaimed £6223 of mis-sold PPI payments plus 8% interest from a number of consoliated Loans he took out with Natwest beween 2001-2003.:T
I only had the Credit agreement for the last loan, but i completed questionnaire and sent along with evidence of self employment etc. 7 weeks later received the confirmation that they will pay back!

amersall

sangria56 wrote: »

Hi can you confirm what e mail address you are using for LloydsTsb as I have e-mailed twice and asked for acknowledgement and recieved no reply this is over 2 weeks ago Thanks

Mumpkin1 may be able to help you with this, I have nothing with Lloyds.

amersall

Mia_1313 wrote: »

I posted this on the wrong thread last night! Amersall originally advised me in June and I'm hoping may be able to help please.

Just to recap, do you know the full amount of the actual PPI and if the loan ran to term?.

Don't bank the cheque yet, they should send you a breakdown of the PPI and what they have repaid.

amersall

Tezza1986 wrote: »

I've written to Natwest requesting my loan account details and if PPI was paid. They have send me a letter today quoting only one account number and sort code. Does this mean PPI was paid? The loan was for ten grand... So i'm not sure where to go from here? Do i write to Natwest or phone the freephone number to register a complaint?

Thank Terry

Phone the number and ask if PPI was on there, if it was then make the complaint, have your reasons for mis sell ready, ask about the other loan too, it may have been a consolidation, if it was, this needs looking at too.

Mia_1313

amersall wrote: »

Just to recap, do you know the full amount of the actual PPI and if the loan ran to term?.

Don't bank the cheque yet, they should send you a breakdown of the PPI and what they have repaid.

I've got the letter they've sent a breakdown of Premiums £283.63, Refund of interest £81.57, early settlement difference£294.76 and interest at 8% £434.55.

It said the have not found sufficient evidence to agree with my allegations that my PPI policies were mis-sold. So they are unable to uphold my complaint.

[Deleted User]

sangria56_TWO_WEEKS_AGO wrote: »

Hi I have written to LoydsTsb after recieving a letter yesterday as I know I was as you say pressured/persuaded to have the PPI I have requested notes on the sale which they say they have looked at, I dont think they will be able provide

I think you need to realise that you are wasting your time with the Bank.

When they "invited" you to write back if you had further evidence to support your claim, they weren't inviting you to demand that they send you their evidence!

Lloyds is one of few Banks which tells complainants they can add to their complaints, but I've yet to see anyone actually persuade them to change their minds! I don't think they genuinely expect anyone to reply at all!

Basically, you have received a "full and final" response from them and your only recourse now which might be successful is to refer your complaint to FOS.

When FOS adjudicate your complaint, the Bank will be required to send FOS any evidence they have based their rejection on.
I sincerely doubt you'll ever see it, however.

I think you've wasted enough time in fruitless further correspondence with Lloyds, take this to FOS and stop concerning yourself with conspiracy theories about upheld complaints being a "lottery".

sangria56_LAST_WEEK_in_reply_to_another_poster wrote: »

I appreciate what you are saying regarding hearsay but I think that can work both ways and will be continuing my claim

Hearsay complaints don't work "both ways", I'm afraid.
As the complainant making the allegations, the burden of proof is upon you, not the bank.
FOS is therefore very likely to side with the Bank in this respect.