PPI Reclaiming discussion Part II

marshallka

Just rang FOS about my co-op claims being on one form and they have made notes on my complaint that these should have been two seperate complaints. I understand from what she said to me that the one for misselling will not have to be resubmitted but they may send out another for unfair rebate of the second loan. Just have to wait and see now. It was a terrible line and i could not make out what she was saying to me. I just hope this is settled by Christmas time. I hope i win it.

hashxx

Hi Marshallka & tiggrae,

I have not defaulted on the loan. I am very disappointed that FOS suggested that i should accept barclays offer, if i am still unhappy they will pass it on to another dept to have a look at the case. He said it will take up to a year as they are unindated with ppi cases..

I only want ppi back for the payments i have made, which is approx 28 months, and the rest of the loan term left the loan can be restructered.

Marshallka,

Your question, no i have not defaulted on the loan, still paying for the loan.

FOS said i am not entitled to have any off the ppi it should be all recredited back to the structured loan..

FOS; are asking me to think about it and let they know what i wish to do..

Don't have a clue what to do next??? Am in a pickle.

They are not giving me an option to choose..

I need to telephone they back with an answer today..

All help would be appreciated..


Thanks Marshallka, and Tiggrae

marshallka

hashxx wrote: »

Hi Marshallka & tiggrae,

I have not defaulted on the loan. I am very disappointed that FOS suggested that i should accept barclays offer, if i am still unhappy they will pass it on to another dept to have a look at the case. He said it will take up to a year as they are unindated with ppi cases..

I only want ppi back for the payments i have made, which is approx 28 months, and the rest of the loan term left the loan can be restructered.

Marshallka,

Your question, no i have not defaulted on the loan, still paying for the loan.

FOS said i am not entitled to have any off the ppi it should be all recredited back to the structured loan..

FOS; are asking me to think about it and let they know what i wish to do..

Don't have a clue what to do next??? Am in a pickle.

They are not giving me an option to choose..

I need to telephone they back with an answer today..

All help would be appreciated..


Thanks Marshallka, and Tiggrae

Its certainly not the norm here. Even tiggrae has not heard of it. How much are they offering back and how much would be owing on the loan if you accepted it this way?

I have heard of banks doing it this way but not FOS letting the bank tell them to do it this way.

I wonder if this is what they are all going to do now. You owe me money so i will take what you owe me away from what i owe you.:eek: The banks are fighting back here maybe.

Is your loan reconstructed then?? What about the interest already paid on the PPI etc.?? What about the interest rate if it is accepted??

sarahc5388

For Tiggrae, Marshallka and Di,

I have just received another letter from Barclays re the PPI on my overdraft. They have said no because the PPI dates back more than 6 years (started in 2000) - can I not just ask for the last six years worth?

they state - "It is reasonable to expect customers to raise an issue within a reasonable time, after the event has taken place, our position has been prejudiced and the level of any investigation could have been compromised. Where a complaint relates to an alleged breach of duty outside the last six years, it is considered time barred under the Statute of Limitations".

I have only just found out about the mis-selling, and have therfore only just made my complaint, can I claim back just the last six years worth? What does the red bit mean??

What is my next step - these !!!!ers are not getting away with this

uptomyeyes1984

Hello everyone, after reading this thread and martins advice, I checked our loan we took out in 2005 for £10,000 from natwest and love and behold we had paid PPI.

We took the loan out over 2 years paying over £500 a month back, the woman who sold us it in the branch told us to get the £10,000 we required we had to open an advantage gold account costing £12 a month and the total of the loan came to £12,201.84 we just thought that it was the interest added on not any insurance, she pointed to where we had to sign and we signed not thinking about anything else as she never mention anything.

I have now used the template and dropped it into my local branch today, do you think we'll get the PPI back?

Kelly

barriejohn69

Hi all,

We took out a £20k loan in 2004 with NR in my wife's name for a deposit on our house.

We were advised to take out PPI as it was a large amount etc and it would help the loan application.

Would we have a case to try and reclaim the amounts paid? Also we rang for a redemption figure and were amazed that the amounts we have paid have paid off all the interest and little capital.

di3004

sarahc5388 wrote: »

For Tiggrae, Marshallka and Di,

I have just received another letter from Barclays re the PPI on my overdraft. They have said no because the PPI dates back more than 6 years (started in 2000) - can I not just ask for the last six years worth?

they state - "It is reasonable to expect customers to raise an issue within a reasonable time, after the event has taken place, our position has been prejudiced and the level of any investigation could have been compromised. Where a complaint relates to an alleged breach of duty outside the last six years, it is considered time barred under the Statute of Limitations".

I have only just found out about the mis-selling, and have therfore only just made my complaint, can I claim back just the last six years worth? What does the red bit mean??

What is my next step - these !!!!ers are not getting away with this

Hi hun.;)
Yes I'm sure you can go back as far as 6 years, and I assume this is again one of the letters they use to send to all their customers who are trying to reclaim, not sure about the red part exactly but maybe Tiggrae could tell you, and I know how annoying this is when only just finding out that the older one was mis sold, I also have one or 2 here like that and its gutting.......:mad: .
There may be ways around it though hun, but see what Tiggrae says, and maybe Marshallka may know.;) I will be interested to find out about this too.

Hope it gets sorted though hun - fingers crossed.

Di.
x

di3004

uptomyeyes1984 wrote: »

Hello everyone, after reading this thread and martins advice, I checked our loan we took out in 2005 for £10,000 from natwest and love and behold we had paid PPI.

We took the loan out over 2 years paying over £500 a month back, the woman who sold us it in the branch told us to get the £10,000 we required we had to open an advantage gold account costing £12 a month and the total of the loan came to £12,201.84 we just thought that it was the interest added on not any insurance, she pointed to where we had to sign and we signed not thinking about anything else as she never mention anything.

I have now used the template and dropped it into my local branch today, do you think we'll get the PPI back?

Kelly

Get a letter in hunni, this was clearly mis sold.
luckily it was 2005, so if they do not refund you when you reclaim this you can take the complaint further to the financial ombudsman service (FOS).
Over the years we have been sold loans like this and was not even given a chance to read anything.
You have good grounds here to complain.

Go for it hun, get your money back - and if you have not made a claim with this and its worthless to you then there is no point in keeping it.;)
You have every chance of getting this back !

If you require further info, post up and one of us will get back to you.

Di.
x

di3004

barriejohn69 wrote: »

Hi all,

We took out a £20k loan in 2004 with NR in my wife's name for a deposit on our house.

We were advised to take out PPI as it was a large amount etc and it would help the loan application.

Would we have a case to try and reclaim the amounts paid? Also we rang for a redemption figure and were amazed that the amounts we have paid have paid off all the interest and little capital.

Yes go for a reclaim.
Ask for the breakdown in writing, this will show how this was all worked out then we will know what to request back, but it seems you have grounds for a complaint.;)

Good luck.
Di.
x

di3004

My son has his hospital appointment this afternoon folks, so will be off soon to get ready, will be back sometime later on to catch up here.;)

Di.
x