PPI Reclaiming Discussion Part 5

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  • -taff
    -taff Posts: 14,501 Forumite
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    You can certainly omplain about it [PPI is not part of pot that people claim money back from, it is a complaints procedure regarding misselling]
    Start with Lloyds, and see what they say.
    Shampoo? No thanks, I'll have real poo...
  • Boo1273
    Boo1273 Posts: 3 Newbie
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    I submitted a PPI complaint to RBS, on Monday had a text confirming receipt and today had a text saying they have sent me a letter with the outcome. Seems quite quick to me, does this suggest a negative response or am I reading too much into it ? They had already confirmed that I had PPI. What have been others experiences ?
  • dunstonh
    dunstonh Posts: 116,373 Forumite
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    Boo1273 wrote: »
    I submitted a PPI complaint to RBS, on Monday had a text confirming receipt and today had a text saying they have sent me a letter with the outcome. Seems quite quick to me, does this suggest a negative response or am I reading too much into it ? They had already confirmed that I had PPI. What have been others experiences ?

    It could be an auto-payout. It could be a timebar is in place. It could be they found no PPI.
    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.
  • The_Bar_L
    The_Bar_L Posts: 8 Forumite
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    Hi,

    I did a PPI checker through resolver with my bank (Natwest). I was sure I had never had PPI. I've had the forms through from RBS saying for a loan I had 2001-2006 there was PPI and the insurance premium was £460. I will complete the forms and see what happens, but if I were to be successful is there a way to calculate what I might get back, based on the £460 insurance premium? I don't actually remember anything about this loan at all.
  • Nasqueron
    Nasqueron Posts: 8,821 Forumite
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    The_Bar_L wrote: »
    Hi,

    I did a PPI checker through resolver with my bank (Natwest). I was sure I had never had PPI. I've had the forms through from RBS saying for a loan I had 2001-2006 there was PPI and the insurance premium was £460. I will complete the forms and see what happens, but if I were to be successful is there a way to calculate what I might get back, based on the £460 insurance premium? I don't actually remember anything about this loan at all.


    You get a refund of the premiums plus associated interest at 8% simple annually.
  • TomPPI
    TomPPI Posts: 3 Newbie
    edited 15 October 2018 at 7:04PM
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    Hi there I'm in the middle of doing a self ppi claim with resolver as suggested in one of Martin's newsletters. I just had a couple of important questions in order to know how best to proceed.

    If i didn't complete my loan repayments beyond two years of paying them back diligently and then defaulted, am i still able to claim for ppi against said loan. Also does the loan reactivate (it's been over 7 years with its statute of limitations even though i got a ccj by default) as i go through this process, or is there any danger of that..

    Lastly what happens now, after completing the form and sending it, the bank replied to me saying that they had received it and were looking into it and would get in touch or call me, but i haven't heard anything at all from them.

    I also have to go through the process of getting the ccj in relation to this revoked as it was always beyond the statute of limitations i just didn't get the correspondence concerning it as i was overseas.
  • dunstonh
    dunstonh Posts: 116,373 Forumite
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    If i didn't complete my loan repayments beyond two years of paying them back diligently and then defaulted, am i still able to claim for ppi against said loan.

    Yes. However, the lender, if they uphold your complaint, will use the redress against the unpaid debt. You dont get it unless the redress is more than the debt (and you only get the excess).
    Also does the loan reactivate (it's been over 7 years with its statute of limitations even though i got a ccj by default) as i go through this process, or is there any danger of that..

    If its statute barred, it remains so.
    Lastly what happens now, after completing the form and sending it, the bank replied to me saying that they had received it and were looking into it and would get in touch or call me, but i haven't heard anything at all from them.

    ou wait.
    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.
  • M0ther54
    M0ther54 Posts: 1 Newbie
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    My husband and I are divorced. During our married life we had loans with LLoyds Bank which always had PPI as we thought you had to have them. A few years ago I claimed PPI on the loans which were on our Joint account and in the end we both received cheques from the bank. I have since found out that my ex instructed a PPI claims firm to find out if there was anything due to him. LLoyds subsequently sent him a cheque for £2300 which he can't cash as it is in both our names. I rang LLoyds and have asked them why this loan PPI was not paid when 1st claim was made as it was taken out in the year 2000. The gentleman has now told me that as it was a joint account they would send two seperate cheques as we are divorced as opposed to one to my ex husband who wishes me to pay half the fees. The bank has told me that the claim is with me and my ex husband and that is who they will pay to. My origianal question was not answered. Is the claim company entitled to money from my half which my ex asked to look into? I really do not beleive that if the cheque had not been sent to him in both names and he couldn't cash it I would not know anything about this. Why didn't the bank let me know that more PPI was due to both of us?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Your husband needs to pay the claims company and he was the muppet who employed them.

    It will probably wipe out most of his share, as the fee could be as much as half of the total.
  • dunstonh
    dunstonh Posts: 116,373 Forumite
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    The gentleman has now told me that as it was a joint account they would send two seperate cheques as we are divorced as opposed to one to my ex husband who wishes me to pay half the fees.

    You have no contract with the CMC and are not liable for their charges.

    Your ex husband is liable for the percentage against the whole redress paid (incluinig your chunk). So, he wont be happy. However, it was his choice.
    Is the claim company entitled to money from my half which my ex asked to look into?

    yes they are. Except, as mentioned above, it is your ex-husband who is liable for paying it.
    Why didn't the bank let me know that more PPI was due to both of us?

    Maybe they couldnt find it originally. A number of the banks have been returning old archived records on to their systems. So, what may not have been visible in the past may now be visible.
    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.
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