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knocker

Payment Protection Insurance

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A couple of weeks ago I made a complaint about the above with MBNA. I've just received notification that the complaint has been upheld and they are sending me a cheque for £6, 423.62 within the next 28 days. How they calculated this amount is beyond me but I'm not arguing. I've read the letter three times to make sure I'm not dreaming or still under the influence from last night.drinks.gif

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Good for you WS good.gif

I've reclaimed PPI for 3 accounts I've held with various banks/lenders and next on my hit list is vanquis credit card.....with compound & statutory interest, I should be on for a grand.....and despite what you see on TV adverts, the claims managment company crooks, you can do it totally yourself for the cost of the odd first class stamp......I used the consumer action group for my guidance in my claims, & Martin Lewis's 'moneysavingexpert' site is another great website for reclaiming PPI as well as many other things

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Good for you WS good.gif

I've reclaimed PPI for 3 accounts I've held with various banks/lenders and next on my hit list is vanquis credit card.....with compound & statutory interest, I should be on for a grand.....and despite what you see on TV adverts, the claims managment company crooks, you can do it totally yourself for the cost of the odd first class stamp......I used the consumer action group for my guidance in my claims, & Martin Lewis's 'moneysavingexpert' site is another great website for reclaiming PPI as well as many other things

Actually all I did was make a phone call querying the payment. I have to say the bloke at the call centre was extremely helpful and said I'll pass it on to our claims complaint department immediately. And that's all I did. Of course it would have got more complicated if they hadn't upheld it.

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Actually all I did was make a phone call querying the payment. I have to say the bloke at the call centre was extremely helpful and said I'll pass it on to our claims complaint department immediately. And that's all I did. Of course it would have got more complicated if they hadn't upheld it.

Even better!...A total result!........it's never been easier to reclaim PPI.....I first claimed 3 years ago for an old bank loan, and had to serve court papers on the lender, only then did they cave in, & pay up...Until I did the SAR (subject access request) on that particular lender I never realised I even had PPI on the loan!!

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I put a PPI claim in around 2 months ago with an agency, with a small fee of £10 for them to chase up the account details that i closed when i had finished paying off the loan around 3 years ago. I phoned the agency to other day to see how they were getting on with my claim, and they still haven't received my account details back from RBS yet ! and said that RBS are dragging claims out as long as possible to be awkward... Does this sound normal? as the people i have spoken to have not had this problem with there claims...

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Have you tried dealing directly with RBS yourself? I might have been lucky but from start to finish with MBNA took three weeks. I was quite impressed. Ajpoolshark will know more about this than I do though. You shouldn't need to go through an agency.

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Have you tried dealing directly with RBS yourself? I might have been lucky but from start to finish with MBNA took three weeks. I was quite impressed. Ajpoolshark will know more about this than I do though. You shouldn't need to go through an agency.

yes i did try myself to get the details through my old branch, they were being very awkward towards me and told me that they did not hold account info on there system beyond 2 years when an account has been closed, as i was very busy with work at the time i passed the info on to an agency. From what i can remember i was paying £80 extra a week for the PPI over 4 years = £3,840

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yes i did try myself to get the details through my old branch, they were being very awkward towards me and told me that they did not hold account info on there system beyond 2 years when an account has been closed, as i was very busy with work at the time i passed the info on to an agency. From what i can remember i was paying £80 extra a week for the PPI over 4 years = £3,840

I think you will find that your calculation is very conservative. There are guide lines laid down by the Financial Ombudsman Service that have to be followed and they are quite complex involving simple and compound interest. If you were paying that amount I think you may find the amount (hopefully) you receive will be substantially higher. If I were you (and I'm no expert remember) I would bypass your local branch and start off with their customer service department.

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I think you will find that your calculation is very conservative. There are guide lines laid down by the Financial Ombudsman Service that have to be followed and they are quite complex involving simple and compound interest. If you were paying that amount I think you may find the amount (hopefully) you receive will be substantially higher. If I were you (and I'm no expert remember) I would bypass your local branch and start off with their customer service department.

Thanks, i hope you are right !

I will get hold of customer service dep tomorrow and see where i go from there.

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Had a letter from RBS this morning, £8145.45p on the way that has certainly cheered my weekend up good.gifdrinks.gif

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Had a letter from RBS this morning, £8145.45p on the way that has certainly cheered my weekend up good.gifdrinks.gif

Great news...despite what the adverts of TV say, there is NO time limit on how back you can claim back PPI.....and if any lender tries to fob you off about not holding any paperwork, it's a load of old tosh, they have to keep your information on file for a number of years, it's the law simple as that......and if anyone attempting to claim back missold PPI, and feels that the lender is stalling, just fire them off a subject access request (a standard letter with templates available on the internet) the lender then has 40 days by law to reply, and the request must contain every single bit of information that they hold of you, loan agreements, PPI, any charges, statements, copies of letters, transcripts of phone calls etc etc...

If anyone wants any help then send me a PM, & I'll point you in the right direction smile.png

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Hi AJ,

The sum that has been offered to me is what they (RBS) have called a "gesture of goodwill". They say that in there investigation that they have been "unable to confirm precisely what information i was given at the time i took the policy".... Should i accept this offer ? Or should i take it further with Financial Ombudsman Service ?

Thanks in advance..

EDIT- Thanks for PM AJ

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