Reclaiming PPI from my bank

[MRS A]

This is my ongoing story about reclaiming the PPI from my bank.

I had a loan taken over 7 years which was paid off 18 months ago and included PPI.

Just over 2 weeks ago I wrote to them to ask for all the PPI back plus simple interest at 8%. I put a few reasons why I thought the insurance had been mis-sold in my letter and said that I understand they might have their own form I needed to complete.

Yesterday I received their letter and form and I do think they are trying to put the 'blame' if that's the right word to use on me. They are trying to put me off, but they won't succeed.

I will have a really good look at the form over the weekend before I fill it out and I will make copies in case I make mistakes as well.

I will post examples of their questions later so others can see how they differ from the FOS standard form and post my answers.

[di30]

Re: Reclaiming PPI from my bank

Hi Mrs A

Its not Lloyds by any chance it is? lol.

Yes post up what you can, and we can see what we can do about this matter.

The FSA are coming down on them more so now, and punishing banks for rejecting genuine and not investigating complaints properly.

I am back and forth at the moment but we will get you through this. k

[MRS A]

Re: Reclaiming PPI from my bank

No not LTSB, it's the Co-op.

I'm hoping they are going to be reasonable to deal with, in fairness they have been so far.

[di30]

Re: Reclaiming PPI from my bank

No not LTSB, it's the Co-op.

I'm hoping they are going to be reasonable to deal with, in fairness they have been so far.

LOL arh right.
I actually went from Lloyds to the Co op and so far as a general bank they have been good to me, so far so good.

Yes fingers crossed they will see it your way, good luck though. k

[MRS A]

Re: Reclaiming PPI from my bank

[attachment=0:1tck8xb2]Picture.jpg[/attachment:1tck8xb2] OK don't know if this is going to work but here goes!

the first part is to do with age, nationality, hours worked and job permanency - straightforward.

the second part says when I applied for my loan I should have been told the PPI was optional. I only remember being told that the repayments for a 5 year loan would be £150 or 7 years £125.

Can you read the attachment as I don't know how to make it any bigger?

This is going to be a slowish process so bear with me please.

[MRS A]

Re: Reclaiming PPI from my bank

[attachment=0:3ppflvn8]Picture 001.jpg[/attachment:3ppflvn8]

OK now this one is something I'm puzzled at because it says *the figures shown in this table have been rounded to the nearest pound. the credit agreement we returned to the bank does not have 'loan with PPI and loan without PPI' figures as this sheet suggests.

Should the bank have actually put some figures in here? I certainly didn't see this when we applied for the loan which was taken out on the back of a cold call from the bank.

I just thought PPI was part of the loan and not something which could be taken off. Actually I never spoke to anyone as this was a joint loan and my exOH took the call.

[di30]

Re: Reclaiming PPI from my bank

Hiya Mrs A, thanks for posting these up, and not to worry, we just click on the attachments if we want to enlarge. k

I shall take a little looksie at them now for you.

[di30]

Re: Reclaiming PPI from my bank

Mrs A

Sorry if you have mentioned and already done this, but I take it you have already requested a Subject access Request (SAR) for this account?

And yes the amounts should be shown on the PPI costs, so I think it would be a good idea to contact them and ask them why they have not included them.

[MRS A]

Re: Reclaiming PPI from my bank

[attachment=1:3gnhmyvi]Picture 002.jpg[/attachment:3gnhmyvi]

Right page 3! I wasn't aware of the cancellation periods tbh.

PPi features and benefits - I didn't even know I had life cover to pay the loan in the event of my death, nor if i was to become a carer.

[attachment=0:3gnhmyvi]Picture 003.jpg[/attachment:3gnhmyvi]

I have added this one on the same post as it is a run-on from the previous page.

The exclusions part is the interesting bit ( and surprisingly the smallest box given to write info in lol).

I started working for the company again in Jan 02, this loan was taken out in April 02 therefore I hadn't worked for 6 months and had I needed to claim in the first few months I wouldn't have been able to. I wasn't asked about this.

In the reply box it also says please advise whether you have had reason to claim etc. I did have a 3 month period off work due to sickness in 2005 - but I did not make a claim on the policy as I received co sick pay and also had savings - therefore I don't think i needed the PPI.

[MRS A]

Re: Reclaiming PPI from my bank

Final page ;-y

[attachment=0:35wf8xhy]Picture 004.jpg[/attachment:35wf8xhy]

OK I will have to find out how much co sick I would have been entitled to at the time of taking out the loan.

We get death in service benefits as well ( don't think it's a lo though)

Not sure about the other insurance cover. I was paying for a 'savings' policy thing with AXA and I think there was life cover with that - don't know how much.

Savings- I had about £2.5k, I didn't have any other loans at that time so I could have used all of this if needed. Loan payments inc PPI were £125 per month so that would have covered a chunk of it.

The last part of the form are all 'no' answers.

There is one final thing I would like some advice on anybody please?

This was a joint loan attached to the joint bank account. The account has since been put into my sole name. Th thing was that when exOH and myself took the loan out he was unemployed. Do I need to mention this anywhere do you think?

The letter and PPI forms have my sole name on them so I think I have reason enough to reclaim without mentioning the ex (though I did put him being unemplyed in the first letter I sent them). He never made any payments to the loan as he never worked and we split in 2004 leaving me to pay the loan until it was paid off in 2009 anyway.

So any comments anyone please? Do you think my chances are OK?

[di30]

Re: Reclaiming PPI from my bank

Hiya

Going by your reasons - my opinion is that you have good reasons to make a reclaim.

I note you said it was a joint loan as well and this would still leave your partner responsible if the god forbid the worse was to happen, even though your partner's name was not included on the ppi.

It seems that you would not have been eligible to make a claim either, (when you was from work for 6 months).

Basically the policy was worthless to you.

I believe all your reasons you have stated are good enough for you to get your money back.
And again in my opinion I do believe your chances are high, you do have lots to go by but going by just some of them you should rightfully make a reclaim. k

[MRS A]

Re: Reclaiming PPI from my bank

Thanks di,

AFAIK my ex OH was on the PPI and that's why I don't know if I need to mention this - we both signed the CCA which I have a copy of. I didn't do an SAR I just asked for a copy of my agreement. They sent that and the entire payment history for the loan which I never missed a payment for.

[di30]

Re: Reclaiming PPI from my bank

Thanks di,

AFAIK my ex OH was on the PPI and that's why I don't know if I need to mention this - we both signed the CCA which I have a copy of. I didn't do an SAR I just asked for a copy of my agreement. They sent that and the entire payment history for the loan which I never missed a payment for.

Your welcome. k

I think they would check all details out during investigation, with the ppi being in your name though and the reasons you have you should be okay here.

With a SAR, its just a thought, but if they sent you all the info you require anyway that is cool.

I always sar'd on mine basically because I did not have much details to start with, and it did help on the reclaiming, as they included dates, the amounts and info on ppi etc.

Of course this is optional, but going back to your case its strong enough anyway.

[MRS A]

Re: Reclaiming PPI from my bank

Right I've completed the form and will post it tomorrow so let's see how long it takes them to reply to me.

I have to say that I found this form quite restrictive, when I filled the actual FOS questionnaire out for Welcome FS it gives you much more opportunity to explain the circumstances. It could be a bit off-putting to many.

[di30]

Re: Reclaiming PPI from my bank

Well done Mrs A, and hope you won't be waiting too long for the outcome.

A few have said the same as you about the forms.
And I do think they hope they do put off, so good for you for sticking to your guns here.

Will be keeping a eye out on your thread here, fingers crossed. X