PPI Reclaiming discussion Part II

di3004

rosenrot wrote: »

sorry if this has been asked before.

Have received letter from BoS saying I can cancel my PPP but my rebate will be credited to my loan balance. Have they the right to do this or can I ask for the rebate to be paid to me?

Hi there rosenrot.

Going by my loans, ppi etc they do seem to work it this way.

Maybe someone else can be a bit more clearer on this for you, because this may also depend on when the loan/ppi was taken etc.;)

Di.
xx

rosenrot

Thank you Di3004,
It does seem a bit rich that you pay the money out and continue to do so even once you cancel the bloomin' PPI. The bank can then turn round and say not a problem, stop the insurance but we will keep your rebate.
All the boards are terrific and would not hesitate asking advice on any of them.
Am i better asking the question elsewere?

tiggrae

Simon_Milne wrote: »

Hi,
I just checked in the FSA Register and it says they registered in 2001, so hopefully this will help my case
Many thanks for the info its greatly appreciated.

Simon

Hi Simon, Di is right - that's why I was asking about the date - basically take your complaint to the Financial Ombudsman - you can download a complaint form from their website - good luck !!

di3004

rosenrot wrote: »

Thank you Di3004,
It does seem a bit rich that you pay the money out and continue to do so even once you cancel the bloomin' PPI. The bank can then turn round and say not a problem, stop the insurance but we will keep your rebate.
All the boards are terrific and would not hesitate asking advice on any of them.
Am i better asking the question elsewere?

Hi Rosenrot.;)

Someone should come along and advise you hun.;)

Not had a chance to go right back on these forums hun when was this loan taken ?

It does seem unfair I know.

I settled a loan a few years back and to settle it with ppi the amount was way above the borrowed amount, very extortionate, this was with a part portion rebate as they say, but as this is paid off I am going to try to pursue this on an unfair rebate settlement/term etc.

Because this was worked out by them calculating using the rule of 78, changes had come into affect since as from sometime in 2005, this was amended on calculations where the consumer would benefit, but even though my loan was settled in 2005 mine did not come into that affect.;)

There may be posts similar to yours on this forum, don't know if you've had the time to check it out.;)

I know this isn't exactly your answer to your question but I agree its so unfair !

Hope this resolves hun.
Di.
xx

TreeHugger

Hey all,

Just wandering if anyone out there had the same problem...

Applied to NatWest for a loan a few years back and received it. I was however, mis-sold the Payment Protection. I'm now in the process of trying to reclaim this and have already sent a letter out from this website. Yesterday I recieved a questionnaire from the Royal Bank of Scotland regarding the PP claim but have not heard anything from NatWest! I'm very confused!

Do I respond to Royal Bank of Scotland's questionnaire regarding this or contact Natwest again?

sneddy1980

right well i sent my letter to my bank to reclaim my ppi and they responded to the letter saying that they was going to look into it and should hear back within 4 weeks. i recieved a letter again on tuesday the 4 weeks was up this saturday saying that it could take upto another 4 weeks as they have still not fully investigated it.

or they fobbing me off? and does it look like that i aint gunna get my money back?

sparky0107

Evening everyone,
Received a questionnaire from Tesco credit card asking if I would like to give them any more details and stating that I am under no obligation to complete the form, has anyone else had this from credit card companies?

catinthehat1

Have sent second letter to First Plus, after they have said that we were told about PPI - we were not, we had no idea that it was on our second mortgage with them - I can see that we will have to go to FOS - Can anyone give me an idea of how to work out claim???
We took out loan £25500.00 in July 04 PPI on top £5068 over 300 months!!! Paying £319 per month

any help would be appreciated

marshallka

catinthehat1 wrote: »

Have sent second letter to First Plus, after they have said that we were told about PPI - we were not, we had no idea that it was on our second mortgage with them - I can see that we will have to go to FOS - Can anyone give me an idea of how to work out claim???
We took out loan £25500.00 in July 04 PPI on top £5068 over 300 months!!! Paying £319 per month

any help would be appreciated

I would let FOS do the calculation for you. Tiggrae may have some idea or M colak but neither around at the moment. Are you sure that the PPI can be dealt with by FOS as i was told that Firstplus were not regulated until jan 2005 when i tried to claim. Have you had a final response?

marshallka

sneddy1980 wrote: »

right well i sent my letter to my bank to reclaim my ppi and they responded to the letter saying that they was going to look into it and should hear back within 4 weeks. i recieved a letter again on tuesday the 4 weeks was up this saturday saying that it could take upto another 4 weeks as they have still not fully investigated it.

or they fobbing me off? and does it look like that i aint gunna get my money back?

At least they are looking into it for you. You have to give them 8 weeks and a lot of people just get a final response with no looking into it. I would wait and see. Don't give up yet.