PPI Reclaiming successes and failures

gigzzy11

Hi guys,
I have applied to Nat west for a refund on all previous PPI paid on different loans. I could not remember if I had paid PPI on all the loans or not. I received a letter back from Natwest, offering me £1,034 on my last loan I had with them 10 years ago. The loan was for £10,000 and they claimed I was only charged £500 for PPI. I am still awaiting the verdict on the other 3 loans, although a phone call to the claims team, told me I had paid PPI on all those loans as well. They only have until Aug 20th to respond on those other 3 loans and have to pay by the 27th.

Firstly, I had 3 loans from Black Horse, that were less than 10 years old and totaled less than £10k, but received just over £3k back, with the interest. I went through one of those claims firms that advertise and had to pay a commission of just under a grand for there service, even though they actually did damn all. But that was my fault, or was it? How is it Nat West can work out I paid only a third in PPI, than what I paid through Black Horse for a similar amount? Does anyone know if there is a set amount usually paid per annum for PPI, or does the amount differ from lender to lender? I was going to write to RBS/NATWEST and ask for copies of all loan agreements, but was hanging on to see how much was being offered for the older loans. There is less than a week left though, before they have to reply with an offer or a rejection on the old loans. Should I send off the £10 postal order now, for copies of the said agreements, or wait until Aug 20th?

Thanks in advance.

amersall

gigzzy11 wrote: »

Hi guys,
I have applied to Nat west for a refund on all previous PPI paid on different loans. I could not remember if I had paid PPI on all the loans or not. I received a letter back from Natwest, offering me £1,034 on my last loan I had with them 10 years ago. The loan was for £10,000 and they claimed I was only charged £500 for PPI. I am still awaiting the verdict on the other 3 loans, although a phone call to the claims team, told me I had paid PPI on all those loans as well. They only have until Aug 20th to respond on those other 3 loans and have to pay by the 27th.

Firstly, I had 3 loans from Black Horse, that were less than 10 years old and totaled less than £10k, but received just over £3k back, with the interest. I went through one of those claims firms that advertise and had to pay a commission of just under a grand for there service, even though they actually did damn all. But that was my fault, or was it? How is it Nat West can work out I paid only a third in PPI, than what I paid through Black Horse for a similar amount? Does anyone know if there is a set amount usually paid per annum for PPI, or does the amount differ from lender to lender? I was going to write to RBS/NATWEST and ask for copies of all loan agreements, but was hanging on to see how much was being offered for the older loans. There is less than a week left though, before they have to reply with an offer or a rejection on the old loans. Should I send off the £10 postal order now, for copies of the said agreements, or wait until Aug 20th?

Thanks in advance.

You only get PPI back that you actually paid, do not compare one redress with another as the PPI paid, early settlement and consolidation are all factors in redress and no two loan redress are the same.
It is possible that the loans you had were all consolidations, if that is the case, you would not have repaid all the PPI on the first loan to the settlement date, you would have received a rebate of the PPI for the first loan so this is taken off the redress but you get the remaining PPI back that you repaid in settlement.... and so on for the next two if they were part of this chain.

If yours were consolidations, the redress for the other two will give you the remaining PPI at settlement that you paid after the rebate given.

If yours were not consolidation loans and PPI, did you settle the first loan early? if you did then you would not have repaid all of the PPI and would have received a rebate of the PPI taken off the loan balance, again the remaining PPI would have been paid back by you in the settlement.

You could do the Sar so you know what PPI was paid and what you should be due if you think you paid more.
Does this help?.

-taff

Kshirl wrote: »

Therefore, how can they reject my claim and say that I never had PPI when they can't provide me with the proof?

You are the one saying there was a problem, so you are the one who has to provide proof.
To check there is nothing left you can spend £10 and send a SAR - see the template on the front page.

gigzzy11

amersall wrote: »

You only get PPI back that you actually paid, do not compare one redress with another as the PPI paid, early settlement and consolidation are all factors in redress and no two loan redress are the same.
It is possible that the loans you had were all consolidations, if that is the case, you would not have repaid all the PPI on the first loan to the settlement date, you would have received a rebate of the PPI for the first loan so this is taken off the redress but you get the remaining PPI back that you repaid in settlement.... and so on for the next two if they were part of this chain.

If yours were consolidations, the redress for the other two will give you the remaining PPI at settlement that you paid after the rebate given.

If yours were not consolidation loans and PPI, did you settle the first loan early? if you did then you would not have repaid all of the PPI and would have received a rebate of the PPI taken off the loan balance, again the remaining PPI would have been paid back by you in the settlement.

You could do the Sar so you know what PPI was paid and what you should be due if you think you paid more.
Does this help?.

Thanks for the response, but you must excuse me for not knowing what SAR applies to and what it means. I understand what you are saying about paid sums for PPI and any subsequent refunds and this would explain the different amounts. I think I will wait until tomorrow and see if NATWEST finally come back with a letter, in regards to the old loans, before phoning again.:T

amersall

gigzzy11 wrote: »

Thanks for the response, but you must excuse me for not knowing what SAR applies to and what it means. I understand what you are saying about paid sums for PPI and any subsequent refunds and this would explain the different amounts. I think I will wait until tomorrow and see if NATWEST finally come back with a letter, in regards to the old loans, before phoning again.:T

A Sar is a data request, you ask for all information a company/bank have on you, this costs £10 and if there is any data they have 40 days to send you this.
Keep us posted with your wins.

gigzzy11

Thanks Amersall. Will do!

Jules38

I had 2 loans, one with LTSB and one with Egg. I didn't realise I was eligible for any reclaims until i was pointed in this direction. I filled in the form here for both. As I am a teacher, my local government sickness and redundancy pay was a lot more than the ppi would give me and I should have been told this at the time. I received almost £4000 from Lloyds and £9000 from Canada Square Operations today. I am thrilled and now debt free - apart from the mortgage!! Thanks so much for the excellent advice MSE. :beer:

Rhiannon91

Just wanted to post on here in the hope it will spur others on to claim back their mis-sold PPI's!

I have been claiming on behalf of my dad, after the very messy divorce between my parents he was left with very little to his name except a mountain of debt & a hefty side order of depression!
I decided to tackle this mess whilst home for my uni holidays and to date have managed to claim back £17,500 from different financial institutes.
Specifically £10,000 from Halifax which only took one letter to get the refund as it was so obvious we had been mis-sold!
I am so greatful for the help provided on Money Saving Expert, it feels like someone is finally standing up for consumers! Well done Martin and everyone else who keeps this site going!

It was lovely to be able to help my dad get some sort of normality back in his life.

And if you are thinking of claiming but you think you will never get anything back... that is exactly what my dad said to me! A little perseverance goes a long way

Rhiannon

DONNACANCAN

Hello All
Hi can you tell me how you found out you egg details or what address you wrote to has have no details on my credit card.
Thanks


I have a personal loan with Egg for (now) £15000. I was rearranging it recently to incorporate the balance from my Egg Card to get a lower interest rate. Whilst going through the lengthy telephone application process, the guy mentioned the total including PPI insurance cost. Due to my recent heightened awareness of these kind of things (MARTIN LEWIS FOR PRIME MINISTER!!!!), I stopped him and said "Ehm, how much am I paying on a monthly basis for the PPI as a matter of interest?" After much scrabbling around, he sheepishly said £91!!!!!!!! A MONTH!!!!

I nearly dropped the phone!!! I told him to remove it from the monthly payment IMMEDIATELY. 5 minutes after the end of the call, I found the same level of PPI via moneysupermarket.com for £7.99 per month!!

The complaint is now with the Financial Ombudsman. I will keep you all posted...I dont know how long I've been paying this, but it will almost certainly be a four figure sum!!

Bill[/QUOTE]

redex5

sparkeyMac2 wrote: »

It's is new to me so sorry if its in the wrong post or not following forum etiquette! I have tried twice to claim ppi on my mortgage taken out in 2000 with Halifax. First time letter back saying it wasn't ppi next letter saying they weren't upholding my complaint because of their internal sales notes, our knowledge of their sales process and documentation at the time, your policy booklet, your application form and your age and employment and medical status at the outset of the policy. I have been made redundant twice in this time and if I had known I had a policy I could have utilised this instead of my savings during these periods of unemployment totalling eight months in three years. Do I have anywhere to go now or do I have to accept this? Hopefully someone can help with my query. Many thanks in advance

If you don't agree, go to the FOS. They should of sent you a leaflet with the letter you got informing you of their decision