Natwest - First ever PPI claim

[Kittystyles]

Hello All,

 

I am justabout to start a claim for missold PPI for four loans which consolidated into oneanother taken out with Natwest. The loan is due to be (finally) paid on 1October (very exciting). I am just getting all my ducks in a row and have a fewquestions, I would be grateful if anyone could provide any advice.

 

All fourloans had PPI and were single premium as far as I can tell. I have the creditagreements for all four, I always knew there was a reason I kept paperwork! Ihave input the data for each loan on the loan progression spreadsheet.

 

1. I haveinput the figures on the loan progression spreadsheet including the PPI amountis this correct? Or should this exclude PPI? Do I need this spreadsheet to goin with my paperwork?

 

2. ThePPI amount unpaid at the consolidation has been rolled over into the next loan.What should I be doing about this? If anything?

 

3. I havecompleted the PPI calculation spreadsheet. I have included all four loans onone sheet. Should this be one sheet per loan?

 

4. I amin the process of completing the FOS questionnaire to send to my bank with acovering letter. Two of the loans have reference numbers on them, two of themdo not. I do have an account number for the loan which is currently running.Can I use the questionnaire to cover all four loans or do I have to completefor each one?

 

Theinitial loan was taken out in person at the Bank and I was missold the PPI. Thefurther three loans were taken out over the telephone. I never needed or wantedPPI but ended up with it anyway!

 

I thoughas I had so much of the paperwork/information I would be better off writing tothem rather than doing it over the telephone.

 

I amreally grateful to this website for provided such a wealth of information andhelp. I am not in any way financially minded, which is probably why I ended upwith four loans!

 

Anyway, Iam much older and wiser now!

Thanking you in advance, Kat x

[ims21]

Hi

 

If you haven't dne so have a read of No.1 in my signature....it will tell you how to calculate and deal with the PPI rolled from one account to another.

 

You can include all four loans on one spreadsheet to give you an overall figure of the amount that should be coming back to you.

 

As they were all connected you can use one fos questionnaire for all of the loans. If you are in doubt about account numbers then you can always send copies of the agreements you have had with them. Make sure you keep the originals and only send copies.

 

If you have any questions regarding the rollover of PPI from one account to another just shout here

[Kittystyles]

Thanks ims21, I really appreciate it.

 

Have read link one in your signature, very helpful.

[Kittystyles]

So I pulled my finger out today and stopped procrastinating and finally got everything together.

 

I filled in the FoS form, populated the PPI redress calculator, copied the four loan credit agreements and wrote a covering letter.

 

Please see below covering letter, I would be greatful for any suggestions or amendments:

 

Dear Sirs

Payment Protection Insurance for PersonalLoan Account number: xxxxxxxx

I am writing in relation to four Payment Protection (PPI) Policies that I wasmis-sold on loans and would like to make a complaint.

Please find enclosed the following items:

· Payment Protector Insurance:consumer questionnaire

· PPI Redress calculationspreadsheet – All four loan PPI payments are included

· Credit agreement for loan 1 –Reference Number:xxxxxx

· Credit agreement for loan 2 –Reference Number: xxxxxxx

· Credit agreement for loan 3 – Account number: xxxxxxxx

· Credit agreement for loan 4 –Account number: xxxxxxx

I would claim back all the premiums and interest I havepaid in connection with these payment protection insurance policies plusstatutory interest at 8% (or whatever other rate the courts might order) fromthe first payment that I made until the date of your settlement of this claim.

 

I would like a reply as soon as possible but, at any case, within the eightweeks allowed for responses to complaints by the Financial Services Authority

Please acknowledge receipt of this letter.

Yours faithfully

[ims21]

Just take out the bit in brackets about "what a court might order" as any offer will be under the regulatory system rather than the courts.

 

[Kittystyles]

Thank you ims21, I really appreciate it.

 

I will make the change and send it off recorded today.