Little bit of guidance needed

[Jonny66]

Hello,

Have finally decided to reclaim some miss sold PPI on a fully paid Natwest "flat rate personal loan, non-cancellable with insurance" taken out in 2003.
Now I have all the paperwork for this

• Main Loan £6000, (APR 11.9 %)
• Insurance loan £1536..
• Credit £7536....
• interest £2355.....
• Total payable £9891......
• 60 installments of £164.85 taken in one monthly payment (comprising £131 loan and £33.60 insurance)

My reason for miss selling are mainly that I was self employed at time (and still am) and was told this Loan Protector Policy would cover me if work became quiet. The paperwork however reveals that "if you are self employed unless you become unemployed due to bankruptcy or the involuntary financial insolvency of your business" involuntary unemployment benefit will not be paid......I believe this is an example of the miss selling of PPI, and will try to pursue it using your template letters. (the letters are a great help.....thanks)

However, it becomes a little more complicated as the loan above was also used to pay off a previous Natwest FBL loan taken out in August 2000. Unfortunately I dont have the paperwork for this FBL loan. What I do have are bank statements going back to beginning of 2003 showing the £100 monthly repayments up until it was repaid with a transfer using money from the loan above ( the a/c number of the FBL loan is shown on the bank statement and the amount repaid was £2664.14) Now I cant remember the exact amount of this FBL loan or if it had PPI, all I know is that I paid back around 39 monthly repayments of £100 plus the £2664.14 = £6564.14 to close the a/c...but dont suppose that is any help to me? I was self employed during this time and I suppose Im concerned that if PPI was included it would have been miss sold on this FBL loan as well...

In your opinions, should I forget this FBL loan so as not to complicate my claim? should I claim for them separately? perhaps use one of the SARs letters?

Look forward to your reply
Jon

[di30]

Re: Little bit of guidance needed

Hello,

Have finally decided to reclaim some miss sold PPI on a fully paid Natwest "flat rate personal loan, non-cancellable with insurance" taken out in 2003.
Now I have all the paperwork for this

• Main Loan £6000, (APR 11.9 %)
• Insurance loan £1536..
• Credit £7536....
• interest £2355.....
• Total payable £9891......
• 60 installments of £164.85 taken in one monthly payment (comprising £131 loan and £33.60 insurance)

My reason for miss selling are mainly that I was self employed at time (and still am) and was told this Loan Protector Policy would cover me if work became quiet. The paperwork however reveals that "if you are self employed unless you become unemployed due to bankruptcy or the involuntary financial insolvency of your business" involuntary unemployment benefit will not be paid......I believe this is an example of the miss selling of PPI, and will try to pursue it using your template letters. (the letters are a great help.....thanks)

However, it becomes a little more complicated as the loan above was also used to pay off a previous Natwest FBL loan taken out in August 2000. Unfortunately I dont have the paperwork for this FBL loan. What I do have are bank statements going back to beginning of 2003 showing the £100 monthly repayments up until it was repaid with a transfer using money from the loan above ( the a/c number of the FBL loan is shown on the bank statement and the amount repaid was £2664.14) Now I cant remember the exact amount of this FBL loan or if it had PPI, all I know is that I paid back around 39 monthly repayments of £100 plus the £2664.14 = £6564.14 to close the a/c...but dont suppose that is any help to me? I was self employed during this time and I suppose Im concerned that if PPI was included it would have been miss sold on this FBL loan as well...

In your opinions, should I forget this FBL loan so as not to complicate my claim? should I claim for them separately? perhaps use one of the SARs letters?

Look forward to your reply
Jon

Hi and welcome


I would make a reclaim on any ppi you believe you have reasons to reclaim on.
Please also note that you do not actually require the figures to make the reclaim, although they will come useful later on if successful to make sure you receive what you should be entitled to.

A SAR is a template letter to request for the paperwork on the account, and you can if you wish do this and send to the business/bank data protection unit.

You can therefore continue to make a reclaiming complaint, and also to state that if you are successful, they should automatically send you a written calculated breakdown.

To make a reclaim, you can use a template reclaim letter, or use the complaint questionnaire, it appears that the main of them now use these questionnaire's. They were issued by the Financial ombudsman service (FOS) for customers to make a complaint to the banks/business who set up and sold the finance with PPI.
Not to confuse with the actual FOS complaints form.

Any probs, please let us know.
And of course ask for help anytime.

Good luck.