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PPI claim NRAM advice please
Gordon_B_2
Posts: 17 Forumite
I have been helping my partner to claim PPI from NRAM, relative to a mortgage and loan with Northern Rock.
No, less than four times have they pushed the limit for a response, wanting more time.
Well finally, today she received a letter stating it was their final response.
Neither she nor I think it is fair in any way.
The gist is, that she is claiming PPI premiums plus 8% simple interest, now I will quote from the letter;
The advice we are looking for is relevant to the amount Christine received in a sickness claim, they are deducting this from her refund amount, which is resulting in zero payment.
Are they allowed to do this?
Part of the claim questionnaire referred to if she could have paid her mortgage without this insurance, well the answer to that was yes, from my income and if needed savings was the answer given.
I thought that if a thing was miss sold then that was the sole criteria regardless of any claims made.
Am I wrong in thinking this ?
No, less than four times have they pushed the limit for a response, wanting more time.
Well finally, today she received a letter stating it was their final response.
Neither she nor I think it is fair in any way.
The gist is, that she is claiming PPI premiums plus 8% simple interest, now I will quote from the letter;
During this investigation, I located two policies and have included these as part of my review. These are SPPI for account numbers *******: ******
This SPPI policy commenced on 12 July 2005. The first premium was paid on 1 August 2005 and the last on 1June 2007. The policy is now terminated.
I have spoken to the insurer Cardiff Pinnacle and they have confirmed that between 16 October 2005 and 17 January 2006, you made a successful sickness claim on the policy. The total value of this claim was £930.
Due to the date of this sale, the records we hold for this sale are incomplete. Therefore, I am unable to evidence that the sale of this policy was compliant.
On the basis of my findings, I am not satisfied that it would be reasonable to reject your complaint against the sale of this policy. Therefore, I agree to uphold your complaint in respect of this account.
However, the total value of your successful sickness claim on the policy was £930 and as outlined in the calculations below, this figure exceeds any potential redress.
The advice we are looking for is relevant to the amount Christine received in a sickness claim, they are deducting this from her refund amount, which is resulting in zero payment.
Are they allowed to do this?
Part of the claim questionnaire referred to if she could have paid her mortgage without this insurance, well the answer to that was yes, from my income and if needed savings was the answer given.
I thought that if a thing was miss sold then that was the sole criteria regardless of any claims made.
Am I wrong in thinking this ?
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Comments
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No, less than four times have they pushed the limit for a response, wanting more time.
Remember that NRAM is the bad banking side of Northern Rock. They took on the low quality book and the poor records that existed. So, you should expect to give them a bit longer than an open bank.The advice we are looking for is relevant to the amount Christine received in a sickness claim, they are deducting this from her refund amount, which is resulting in zero payment.
Are they allowed to do this?
Yes they are. They are both morally correct and technically correct in doing this.I thought that if a thing was miss sold then that was the sole criteria regardless of any claims made.
Am I wrong in thinking this ?
You are wrong.
If you want to morally correct, then tell them you will repay the amount of the claim an take the refund of premiums instead. It will leave you out of pocket but at least you would then hold the moral high ground.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
You paid a policy, claimed on it, received money and now you are saying it was miss-sold and you didn't want it.
So pay back the money you claimed (as you didn't want the policy and shouldn't have had it) and ask for a refund of the premiums you paidSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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and the point of this post following on from the previous one is?....You paid a policy, claimed on it, received money and now you are saying it was miss-sold and you didn't want it.
So pay back the money you claimed (as you didn't want the policy and shouldn't have had it) and ask for a refund of the premiums you paid
Fact; it was miss-sold, she was lead to believe it was a component part of her mortgage agreement.
Fact; She could have purchased a similar policy for much less money.
Common sense, if compeled to have such a policy, then have an accident at work (loosing the tips of 2 fingers), then anyone would then claim.
Fact; if that policy was not in existence the mortgage would still have been paid without any problem.
Ok I'm wrong in thinking the payments made during that claim shouldn't be a factor, that is something I have been told on the phone by cold caller fishing for PPI claims.
Your tone and attitude leave much to be desired.0 -
Fact: Your partner received more than was paid in premiums for the policy.
Yet still expects redress.
No further comment is required.0 -
No further comment is required.
However tempting it may be.....I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Ok I'm wrong in thinking the payments made during that claim shouldn't be a factor, that is something I have been told on the phone by cold caller fishing for PPI claims.
Never ever believe a thing those lying barstewards tell you. They'll do anything for a commission.Non me fac calcitrare tuum culi0 -
Thank you that is all I needed to hear, without the up themselves sarcasm of the other replies.Never ever believe a thing those lying barstewards tell you. They'll do anything for a commission.
With luck they will get just a little bit more up themselves and disappear up their own areses.:rotfl:
Now let's see who can refrain from replying.0 -
Thank you that is all I needed to hear, without the up themselves sarcasm of the other replies.
With luck they will get just a little bit more up themselves and disappear up their own areses.:rotfl:
Now let's see who can refrain from replying.
Why should we refrain from replying? You have made a post where you describe a situation where your partner had PPI, claimed on it and now you want the money back from the premiums on top of the payout and are disgruntled because they said no :rotfl:
You said it was not needed because you could have paid it or savings could have paid it, so why did she claim - doesn't that rather prove it was useful? :rotfl:
You won the "miss-sale" complaint because their documentation was poor, not because it was miss-sold :rotfl:Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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You won the "miss-sale" complaint because their documentation was poor, not because it was miss-sold
Not necessarily. It may have been an auto uphold. Many nil redress cases get classed as upheld as it can avoid the FOS fee in the complainant is daft enough to go do the FOS. Whereas as if reject and say it would have been nil redress anyway, then they would suffer the FOS fee.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Not necessarily. It may have been an auto uphold. Many nil redress cases get classed as upheld as it can avoid the FOS fee in the complainant is daft enough to go do the FOS. Whereas as if reject and say it would have been nil redress anyway, then they would suffer the FOS fee.
Possibly - the nature of the letter basically saying they couldn't see any documentation so couldn't confirm it was sold correctly could be read either way, especially as they seem to be trying to prove it was not miss-sold rather than OP proving it wasSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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