PPI Claims - don't give up.

clapham_gull · Jan 31, 2015

I have a PPI claim that defines the term misselling.

I needed a small loan when I bought my first flat. Was offered it over a ridiculously long period or a short one if I took out insurance. The short period was still cheaper but I was refused without the insurance. Not my insurance, just their way of getting more money out of me and they were not even trying to hide it.

Complained time and time again, went through the official routes but nothing until a random phone call from the bank before Christmas.

They were reviewing all the cases they had turned down before.

Last week a letter through the post. Not only the full PPI back but interest on it at 8% for every year since.

I took the loan out 16 years ago !

So a nice surprise. It's 50% of the original loan itself.

So don't give up and keep pestering.

Westdene Seagull · Jan 31, 2015

And NEVER use these parasitic PPI reclaim companies !

Midfield Minton · Jan 31, 2015

I had a loan with natwest 5 years ago,last year I added 5k on to it but not sure if the ppi is applicable to newer loans,keep getting texts and letters about it but not sure

Barrel of Fun · Jan 31, 2015

Are credit cards and bank charges dead in the water? I had a rough few years dealing with some trauma and let my finances slide.

DarrenFreemansPerm · Jan 31, 2015

I've had a HSBC credit card for years, often I've had a balance on it which I've paid responsibly every month, anybody know if I'd have a claim?

Rookie · Jan 31, 2015

Midfield Minton said:
I had a loan with natwest 5 years ago,last year I added 5k on to it but not sure if the ppi is applicable to newer loans,keep getting texts and letters about it but not sure

I would very much doubt the messages and letters are from your bank who are the only ones who know the details. If you are unsure contact your bank and ignore the companies after your money for doing nothing.

The Andy Naylor Fan Club · Jan 31, 2015

Westdene Seagull said:
And NEVER use these parasitic PPI reclaim companies !

Absolutely this. I used one of these companies and nothing back ( No phone calls or emails to let me know what was going on) for over 1 year. A quick phone call to my bank ( no forms ), they asked me a few questions and asked me if I wanted to represent myself, to which I said yes and within 4 weeks I had £2000 credited to my bank account.

Barrel of Fun · Jan 31, 2015

DarrenFreemansPerm said:
I've had a HSBC credit card for years, often I've had a balance on it which I've paid responsibly every month, anybody know if I'd have a claim?

Nice jibe. I paid everything off in the end, but got in to strife. Were the fines disproportionate?

DarrenFreemansPerm · Jan 31, 2015

Barrel of Fun said:
Nice jibe. I paid everything off in the end, but got in to strife. Were the fines disproportionate?

Sorry BOF, I just realised that it read as though I was being rude, that's absolutely not the case. I would never judge a relative strangers financial situation.
I only included the repayment bit in case it have any bearing on the situation.

BensGrandad · Jan 31, 2015

I, like thousands, receive calls about PPI reclaiming, but have been reluctant to follow it through in case it affects present bank and credit cards. Does it or should I chase to see if I am entitled to any money back.

AmexRuislip · Jan 31, 2015

The Andy Naylor Fan Club said:
Absolutely this. I used one of these companies and nothing back ( No phone calls or emails to let me know what was going on) for over 1 year. A quick phone call to my bank ( no forms ), they asked me a few questions and asked me if I wanted to represent myself, to which I said yes and within 4 weeks I had £2000 credited to my bank account.

Similar story with me, I received 3K from Natwest, with no quibbles from them.
Received £80 back from CCP.
DIY and you pay nothing :thumbsup:

Midfield Minton · Jan 31, 2015

I was told when I had my loan meeting that if I had an advantage gold card it entitled me to life insurance and cover on my loan if I couldn't repay,I went with that and it was an extra £12 a month taken from my current account,but then looking at the loan agreement in detail I was covered already with ppi in the loan itself

clapham_gull · Jan 31, 2015

DarrenFreemansPerm said:
I've had a HSBC credit card for years, often I've had a balance on it which I've paid responsibly every month, anybody know if I'd have a claim?

Ha ha. I was waiting for the first lazy response like that.

Back in 1999 it wasn't that easy in your 20s to borrow money with no credit history. I scraped anything I could together to buy a flat (very difficult to get a mortgage) but was 5k short. Couldn't even put it on a credit card.

This is PPI not interest charges. I had no choice which has subsequently been deemed illegal.

Super Steve Earle · Jan 31, 2015

Midfield Minton said:
I had a loan with natwest 5 years ago,last year I added 5k on to it but not sure if the ppi is applicable to newer loans,keep getting texts and letters about it but not sure

So you didn't take PPI last year but wonder if you might be able to scam the primarily taxpayer owned RBS/NatWest for a few quid.There are plenty of legitimate claims of misselling, but really the PPI industry was a populist politically driven set up to allow anyone who took it to hit back at the banks because of the banking crisis in 2008. Customers who took it for peace of mind and needed to claim were delighted with the product. Those who didn't got the peace of mind and their money back.
In your case Midfield Minton, you can't extend a NatWest Loan, so you consolidated your existing loan with an extra £5k last year. Since PPI was not sold by NatWest in 2014, you have no PPI to reclaim on the new loan. However you may have had PPI on the original loan and whilst I may not agree with the motivations behind the PPI industry, you only need to go to www.natwest.com and contact the complaints department. They will put you through to the PPI misselling team and you can see if you can claim if you had PPI on the original loan. NatWest is committed to supporting the scheme.

Midfield Minton · Jan 31, 2015

The first loan I had before adding the 5k I was told if I take the account upgrade to advantage gold I would get a slightly better interest rate and cover against missed repayments amongst other things,but looking back at the original loan I already had ppi included in the loan itself,so why sell me something to cover me twice

DarrenFreemansPerm · Jan 31, 2015

clapham_gull said:
Ha ha. I was waiting for the first lazy response like that.

Back in 1999 it wasn't that easy in your 20s to borrow money with no credit history. I scraped anything I could together to buy a flat (very difficult to get a mortgage) but was 5k short. Couldn't even put it on a credit card.

This is PPI not interest charges. I had no choice which has subsequently been deemed illegal.

I'm glad you deem me asking a question about PPI on a PPI thread as lazy :shrug:

Westdene Seagull · Jan 31, 2015

BensGrandad said:
I, like thousands, receive calls about PPI reclaiming, but have been reluctant to follow it through in case it affects present bank and credit cards. Does it or should I chase to see if I am entitled to any money back.

It has no effect on credit rating etc at all. If you're entitled to it then claim it. If you don't know if you are then still whack in a claim. My girlfriend got £8k back with a total of 6 letters.

clapham_gull · Jan 31, 2015

DarrenFreemansPerm said:
I'm glad you deem me asking a question about PPI on a PPI thread as lazy

It's OK. I've now read your previous apology. To suggest people you have been scammed by banks have acted irresponsibly is lazy. I've luckily never been in financial trouble unlike the bank who gave me the loan in the first place...

Tricky Dicky · Jan 31, 2015

Westdene Seagull said:
And NEVER use these parasitic PPI reclaim companies !

Absolutely. Uncle Spielberg did mine for me, not that I think it was that difficult. All very easy, all very quick. Took one form and about a week and all sorted with a nice cheque, no questions.

Super Steve Earle · Jan 31, 2015

Midfield Minton said:
I was told when I had my loan meeting that if I had an advantage gold card it entitled me to life insurance and cover on my loan if I couldn't repay,I went with that and it was an extra £12 a month taken from my current account,but then looking at the loan agreement in detail I was covered already with ppi in the loan itself

Advantage Gold is a packaged bank account. There is no Advantage Gold card. The package has never included any form of loan protection or PPI. It may have included life assurance at the time. More likely you took Advantage Gold to obtain a lower rate on the loan and hopefully a saving of more than £12pm on the loan repayment. Thus the other benefits at the time, such as travel insurance and other things, would have come free. You need to think about whether you were missold the Advantage Gold or if you are incorrect in your recall of the events. If you think you were misled over the Advantage Gold, you may be able to take it through the same complaints team at the same time.

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