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  • #1

    about to start reclaiming PPI. help would be grateful please

    I am starting to get into financial trouble at present due to lack of work. self employed, and thought stuff it, going to reclaim my PPI back.

    I have a personal loan which finishes in the next month or two with RBS, which was for 9K over 5 years. which PPI was taken out when i had it.

    I have downloaded a form from moneysavingexpert.com which is a 8 page form from FOS. This looks like hard work, is there are simpler letter to write, and whats the best things to put in it ?

    I also have 2 RBS credit cards which have PPI on them, which at this rate wont get paid next month due to lack of funds. I am thinking of CCA them as they are both over 10 years old and if they cannot find an agreement for a good length of time the money i have paid in PPI will be a help to drop the balances on them.

    all help grateful
    Mark
    Tags: account, accounts, benefits, branch, businesses, cca, consumer, credit, credit cards, data, debt, details, employment, financial, fos, help, insurance, interest, letter, loan, mis sold, online, package, pay, phone, policy, ppi, rate, rbs, reclaim, reclaiming, sar, unemployment
  • #2
    Re: about to start reclaiming PPI. help would be grateful please

    Send a PM to Di30 - she's our expert and will guide you in the right direction - or post details here to start with so she knows more about the account etc....

    Best of luck
    I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

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    • #3
      Re: about to start reclaiming PPI. help would be grateful please

      Thanks, sent a PM to Di30

      Comment

      • #4
        Re: about to start reclaiming PPI. help would be grateful please

        Originally posted by mjr001 View Post
        I am starting to get into financial trouble at present due to lack of work. self employed, and thought stuff it, going to reclaim my PPI back.

        I have a personal loan which finishes in the next month or two with RBS, which was for 9K over 5 years. which PPI was taken out when i had it.

        I have downloaded a form from moneysavingexpert.com which is a 8 page form from FOS. This looks like hard work, is there are simpler letter to write, and whats the best things to put in it ?

        I also have 2 RBS credit cards which have PPI on them, which at this rate wont get paid next month due to lack of funds. I am thinking of CCA them as they are both over 10 years old and if they cannot find an agreement for a good length of time the money i have paid in PPI will be a help to drop the balances on them.

        all help grateful
        Mark

        Hello there

        Thank you for posting up your thread and we will help all we can.

        Also thank you for your PM.

        In regards fo the forms you said you printed off, it appears that these are mainly used now to make a reclaiming/complaint on the PPI.

        You can of course give it a go by writing a letter if you want to, but they may still expect a form to be completed.

        The forms were previously issued by the Financial ombudsman service (FOS) and are recommended to use now for a reclaim, if your reclaim was rejected by the final decision, you should try to keep a copy of the form you sent to the business - in case you need to make a complaint to the FOS later on.
        This is also to save time.

        So the form I assume you have is this one here then?
        http://www.financial-ombudsman.org.u...stionnaire.doc

        Personally, to save any come-backs, I would complete the form, or the business try pushing your case back in the queue and use it as a stalling tactic, by stating the form will have to be completed as part of the procedure.
        (Although I am not saying all businesses are like that) but just in case.

        So basically, you complete your personal details.

        The reference number of the loan and insurance.
        Its likely the PPI insurance number will be the same ref as the loan number, so you again write in that account number.

        Name of the business your complaining about.
        If the loan was joint with someone else, then confirm or not.

        If you can remember how the loan was sold to you:
        Directly in branch.
        Telephone
        Internet etc...

        So what you put in it, will depend on your reasons for being mis sold.

        I note you said you were self employed. (So if you were self employed) when the loan was sold to you, its possible you would not be eligible, as its rarely they pay out if you were to make a claim for unemployment/sickness etc.

        So if this applies to you, you need to confirm this reason to them, and tell them you were sold a policy that was worthless to you, and if you were aware at the time it was sold to you - or if they had made it clear, then you would not have purchased this PPI product.

        Other reasons that "may apply to you" is.
        Maybe they told you that you had to take out the PPI or the chances may be reduced and you may not get the loan. (so in this case you were therefore pressurised).

        Also, if you had a pre-medical condition at the time you taken out the policy, its highly unlikely they would pay out on a claim for that medical condition.

        Maybe it was added automatically, and it was assumed it all part of the package (as it was not discussed/explained to you how it worked).

        So I would write what you feel applies to you, as the list is endless, if you require more info, myself and Pompey will be happy to help further.

        You want them to basically refund you all you have paid in PPI because of your reasons for being mis sold, plus all the relevant interest.

        In regards of the other 2, yes it will be a good idea to CCA them, and also request a Subject Access Request (SAR).

        If your in hardship, you need to write to them for as soon as possible, make them aware of the situation.
        You could also arrange just to pay something for now, even if it's just a little something, and if your planning to make a reclaim on the PPI, use the same questionnaires as on the link above for each of the accounts, and maybe on the letter of hardship you could possibly mention that the accounts are currently in dispute.

        However, maybe Pompey will be along and have a better solution in regards of the hardship issue.


        Hope this info helps, please remember though, try to keep copies of all you send and receive, and always used signed for delivery, because this if your proof.

        Comment

        • #5
          Re: about to start reclaiming PPI. help would be grateful please

          hello, I think by looking at my credit report in 2009 the loan will drop off next month or march, i cant find any paperwork regarding the loan at home so dont know what the policy number is. will RBS tell me this over the phone if i phone the branch ?

          i was not self employed at the time of the loan in 2007 but have changed since, i had a good package of being fully paid and all benefits if i was off work sick so dont believe i needed it. i am sure he said at the time also that the loan would possibly go through better if i took out the PPI on it.

          does it matter that the loan may very well be finished by the time they receive the paperwork to start claiming back the PPI
          regards
          M

          Comment

          • #6
            Re: about to start reclaiming PPI. help would be grateful please

            Originally posted by mjr001 View Post
            hello, I think by looking at my credit report in 2009 the loan will drop off next month or march, i cant find any paperwork regarding the loan at home so dont know what the policy number is. will RBS tell me this over the phone if i phone the branch ?

            i was not self employed at the time of the loan in 2007 but have changed since, i had a good package of being fully paid and all benefits if i was off work sick so dont believe i needed it. i am sure he said at the time also that the loan would possibly go through better if i took out the PPI on it.

            does it matter that the loan may very well be finished by the time they receive the paperwork to start claiming back the PPI
            regards
            M

            Hi M

            A suggestion which have helped lots of others in the same position.

            Banking statements are useful for tracking down loan account numbers.
            They are normally shown next to the loan monthly repayment, and if you bank online and still with the same bank where the loan repayments were debited from you should hopefully be lucky to go back quite a few years and maybe find the account number.

            Otherwise yes do try calling in the local branch or ringing them, sometimes it helps to call in where they should be more helpful.

            They should definately still hold the main of the details of the account because with that being 2009, that was just almost 3 years ago.
            And they should keep data for at least the last 6 years, some though even longer.

            As you had benefits at the time when this was taken out, make them aware of this, this clearly says to me that they did not make sure that you wanted this PPI product, otherwise you would have had the opportunity to have confirm you have, or then had benefits in place.

            No, it does not matter at all, you can make a reclaim on the PPI if the account is settled or still ongoing.

            Comment

            • #7
              Re: about to start reclaiming PPI. help would be grateful please

              Oh, also in regards of hardship, maybe this thread will be useful to you.

              http://forums.all-about-debt.co.uk/f...splay.php?f=72

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