PPI Reclaiming Discussion Part 5

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  • Doggle
    Doggle Posts: 3 Newbie
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    Hi Folks – Looking for a bit of advice re PPI on a couple of loans from NatWest, from the 1990s.

    I have read through the PPI forum (although, to be fair, not all of it...) but don't see this specific situation discussed, so hoping someone can help.

    I have contacted NatWest to make the initial enquiry into their records, and they have confirmed that they have records for three loans, and that there was PPI of £500 on one of them from 1994.
    They have also listed the two other loans on their response letter, but state that neither of these had PPI.

    I have paperwork for the three initial loan applications (original / carbon copy forms that were completed in the bank), and one does indeed state that PPI of £500 was added to the loan amount. I also have another application form for a consolidation loan, some three months later, where PPI was also added.

    So, I have records of PPI on at least two of these loans, where NatWest only have records for one.

    The question is, do I reply to their their initial response letter, enclosing the evidence that I have, and ask them to update their response, or do I complete the complaint form in full, and send my evidence of the PPI on the second loan with the completed complaint form?

    For the record, the PPI on the first loan was definitely mis-sold, as I was told at the time that I had to take the PPI in order to get the loan. The second loan was a consolidation of the first, albeit from only 3 months later, and PPI was again added to the new loan in the same way.
    Many thanks in advance for any help. :)
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Doggle wrote: »
    The question is, do I reply to their their initial response letter, enclosing the evidence that I have, and ask them to update their response, or do I complete the complaint form in full, and send my evidence of the PPI on the second loan with the completed complaint form?

    If you feel you have a genuine complaint, it would be quicker to simply submit your complaint with your evidence.
    Doggle wrote: »

    For the record, the PPI on the first loan was definitely mis-sold, as I was told at the time that I had to take the PPI in order to get the loan.

    Remember that doesn't mean it was definitely mis-sold, if it was a genuine condition of the loan.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    Doggle wrote: »
    I also have another application form for a consolidation loan, some three months later, where PPI was also added.

    So, I have records of PPI on at least two of these loans, where NatWest only have records for one.
    The problem is that application forms are not incontrovertible evidence that you went on to actually pay the PPI. It's highly possible you went on to cancel the PPI during the cooling off period and that is why the Bank's records only show PPI on the first loan.

    By all means present your "evidence" to the Bank and see what they come back with, but unless you have documentary evidence (statements etc) that you actually paid for this phantom PPI, the Bank will not refund anything they have no record of.
    Doggle wrote: »
    the PPI on the first loan was definitely mis-sold, as I was told at the time that I had to take the PPI in order to get the loan.
    That's a very weak complaint, given that the PPI was clearly described as optional on the Agreement you signed. It was also 25 years ago, which suggests you have a remarkable memory.
    Look for a more compelling complaint if you want to be sure of a refund.
  • LisaBo
    LisaBo Posts: 2 Newbie
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    Hi I have just received a letter containing a cheque from Halifax for PPI. I previously contacted them and they sent a letter saying I had no claim. Also to point out I went bankrupt a few years ago so I was told I couldn't put a PPI claim in. My question is do I just bank the cheque(small amount) or can I do something in the forms of a compensation claim now they have clearly admitted it was paid as they are sending the return funds? Thank you
  • Nasqueron
    Nasqueron Posts: 8,957 Forumite
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    LisaBo wrote: »
    Hi I have just received a letter containing a cheque from Halifax for PPI. I previously contacted them and they sent a letter saying I had no claim. Also to point out I went bankrupt a few years ago so I was told I couldn't put a PPI claim in. My question is do I just bank the cheque(small amount) or can I do something in the forms of a compensation claim now they have clearly admitted it was paid as they are sending the return funds? Thank you


    If the loan was from pre-bankruptcy it is an offence to cash the cheque as it belongs to the OR not you. I would ring the OR and offer them the money to avoid getting in any trouble.
  • dunstonh
    dunstonh Posts: 116,556 Forumite
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    Also to point out I went bankrupt a few years ago so I was told I couldn't put a PPI claim in.

    in which case, if the redress payment relates to PPI paid prior to your bankruptcy then you are committing an offence by keeping that money. You are legally required to let the official receiver know you have received this money.
    My question is do I just bank the cheque(small amount) or can I do something in the forms of a compensation claim now they have clearly admitted it was paid as they are sending the return funds? Thank you

    Have they admitted it was wrong or is it a Plevin refund? Small amounts tend to be plevin related and not an admission of wrongdoing. Plevin only applies to rejected complaints.
    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.
  • -taff
    -taff Posts: 14,561 Forumite
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    LisaBo wrote: »
    Hi I have just received a letter containing a cheque from Halifax for PPI. I previously contacted them and they sent a letter saying I had no claim. Also to point out I went bankrupt a few years ago so I was told I couldn't put a PPI claim in. My question is do I just bank the cheque(small amount) or can I do something in the forms of a compensation claim now they have clearly admitted it was paid as they are sending the return funds? Thank you


    Did you point out to the Halifax that you went bankrupt?


    You are not legally allowed to complain [or claim as some people can't help calling it] about any asset you may have had pre bankruptcy. Send the cheque to the OR to avoid getting into trouble about this.


    \If you want to complain about any credit you've received after the bakruptcy was discharged, you are free to do so.
    Shampoo? No thanks, I'll have real poo...
  • LisaBo
    LisaBo Posts: 2 Newbie
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    Oh my thank you! Never thought of that. Thank you I'll contact and double check!
  • Michelle_ma_belle
    Michelle_ma_belle Posts: 1 Newbie
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    Hi All,

    Thanks in advance for any advice provided.

    I submitted my claim to LLoyds in October for 3 loans that I had dating back 2007, 2008 and %2011. Luckily I always keep my paperwork and still have all of the original documentation. &Unfortunately within this paperwork I found the standard PPI letter that they issued to everyone informing 'you may have a claim'. I had obviouldy filed this away with all the other bank paperwork assuming it was relating to my account but nothing urgent.

    Lloyds came back to me in December stating that they were decling my claim for mis-selling as I was over the 6 year time limit to compalin PLUS the 3 year expiry on the 'you may have a claim' (that letter was dated April 2014). However they were upholding Unfair Relationship - meaning they hadn't disclosed the huge commission they received, which was 84% and two at 79%! The loans were for between £8000, £11000 and £12000. They have since issued a cheque for £4159. I'm confused as to why decline the mis-selling but yet issue this payment.

    Is it worth taking this to the Ombudsman regarding the mis-selling or will I be wasing my time even trying?

    Smiles
    Michelle
  • amersall
    amersall Posts: 17,006 Forumite
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    You were over the 6 years limit to claim and also 4 years over the time from the letter they sent.

    As they did not uphold the claim you have a Plevin refund instead, nice amount by the way.

    As you have gone over the 3 and 6 years for making this claim, the Ombudsman will give you the same response I am afraid.
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