Clydesdale Bank Loan & CC PPI

[Dr Hunter]

Hello,

 

I am considering starting a claim with the Clydesdale bank for mis-sold PPI on two loans. It was made clear to me when taking out both loans that they would not be approved unless I purchased the policy, I also had a pre-existing medical condition which I think may have excluded me from receiving compensation and already had a wage protection insurance when I purchased the 2nd PPI.

 

As it happens I was made redundant and ended up claiming on the 2nd loan PPI which leads to the following question:

 

Can I still make a claim on the 2nd mis-sold PPI even though I received payment from it? I realise this may seem selfish (have cake and eat it) but I have a pretty thick skin regarding the Clydesdale bank as they have received around £10000 in charges from me over the years.

 

Will this (receiving payment from the 2nd loan policy) affect making a mis-sold claim on the first loan policy?

 

Thanks in advance for any help,

 

DH

[ims21]

Hi Dr Hunter

 

You can reclaim on both loans.

 

With regard to loan 2, all you do is deduct what they have paid out to you from the amount you are claiming from them.

 

Have a look at the fos website PDF files and download their questionaire.

 

If you need help preparing your schedule of claim (SOC) just shout.

 

Regards

 

ims

[Dr Hunter]

Thanks for the info and I will no doubt be back seeking advice as this thing progresses.

[Dr Hunter]

Hello,

 

I sent a letter to the bank in July asking for loan info (terms and conditions, credit agreement etc) informing them of my particular interest in a loan in 2002. I included a copy of my 2007 S.A.R. which asked for "all loan info" and questioned why this had not been provided at the time. I also poionted out that at the time of the S.A.R the loan had only been 5 years old so information should have been/ should be easily obtained. Additionally I included bank statements covering the time of the loan to aid retrieval without account numbers. I should note at this point the bank informed me at the time that they could not provide information without account numbers.

 

Two months and many phone calls later the bank had "lost" the letter and "could i send another one".

 

I received a letter today with the following information:

 

"due to passage of time since closure the paperwork has been destroyed"

"loans are regulated by the Consumer Credit Act so not obliged to hold paperwork if no sums are due"

"the department that dealt with my S.A.R. request is now closed so any outstanding (relevant under the Act) information will be provided by them on request"

"they have provided loan account numbers and dates of closure if I would like to make a P.P.I claim"

 

I am going to ignore the contradiction that they could not provide information without account numbers in 2007, now that the information has been "destroyed" they have provided all of the account numbers.

 

I am not sure what my next course of action should be, the offer to make a claim is an obvious ruse which will be met with "sorry we can not confirm the miss-selling as we have destroyed the relevant records"

 

At this point I have statements detailing all the loan info (loan amount received/paid, P.P.I paid, dates etc) the account number but no terms and conditions or credit agreement.

 

Should I report this to the ombudsman as a failure to provide info under D.P.A and fight to retrieve the "destroyed documents"? Is there any chance of success in making a claim with the info I have?

 

Thanks in advance for any help or advice.

DH

Edited September 22, 2011 by Dr Hunter

[ims21]

Hello DH....welcome back.

 

Do I understand correctly that you have all the details relevant to loans 1 and 2 but just don't have the original agreements, i.e. that you have notes of the details on loans 1 and 2 and the statements showing payments etc for both loans?

 

ims

[Dr Hunter]

Hello ims,

Thanks for the welcome and I hope you are well. I am disregarding loan number 2 because I ended up with it paying out way more than the premiums I paid.

All I have is the statements covering the period of loan 1 (including info on loan amounts recieved and paid, P.P.I paid and the dates etc) and the account number for the loan. I may have had a diagnosed medical condition which would have potentially excluded payment but I need to check the loan T&C (which I don't have) and my medical history (for dates).

Cheers

DH

[Dr Hunter]

I am considering sending the department a letter asking if they can confirm that they "destroyed" paperwork which had been asked for (under a S.A.R.) and not provided. Surely they are breaking the rules here and would be liable for the entire P.P.I. claim amount for doing this??

[Dr Hunter]

As an update:

I sent the bank a letter to ask them to decide and confirm which information was correct from the range of conflicting letters I had received. Was the information (PPI records and T&C): (a) destroyed (b) in vaults and easily available or © available and will be sent if I send a cheque for £1.

 

I also asked them how the account numbers were so readily available (and provided) now that all the information regarding them had been destroyed yet, during the S.A.R nightmare with them in 2007, they claimed that account numbers were as easy to locate as hens teeth.

 

They are doing the usual run around and sent a letter a month ago stating complaints are taken seriously blah blah, will be looked into and will be in touch "within a few weeks". I received a similar letter last week claiming the investigation is ongoing and will take another "few weeks".

 

They really are a collection of turds!!!!

[Dr Hunter]

Hello,

 

I have received a letter from Clydesdale informing me that the PPI complaint has been upheld and offering a full refund of PPI payments plus interest to place me in the position I would have been in had it not been for the PPI. I beg to differ with this and intend to show the PPI payments directly caused bank charges as a result of the funds being removed.

 

I can see no argument for refunding bank charges when the charge resulted from an amount overdrawn which was the same or less than amount of PPI payments. Following this, charges due to overdrawn amount being the same or less than the amount of (PPI plus resulting bank charges). My question is regarding the occasions a charge was incurred when the PPI amount was less than the overdrawn amount but was a component of it, for example PPI = £30, overdrawn by £50. Could the bank charge for this instance be reclaimed?

 

Thanks in advance for any advice given.

[Dr Hunter]

I fear this statement "and borrowers must show they have mitigated their losses" from the recent "PPI appeal withdrawn from Supreme Court" notes may answer the above question.

[ims21]

Basically you could only claim any charges where they were a direct result of the PPI.

 

You just work on the basis that you should be out back in the position you would have been in had the PPI not been applied.

 

This runs over time so in your example of being £50 overdrawn and the PPI for that month being £30, if the £50 was made of a previous amount of PPI then you should be able to claim it back.

[Dr Hunter]

Update, the bank have refused to refund charges incurred as a direct result of PPI. Their reasons in brief: the PPI offer was full and final, the charges were legally fair (I did not question this),more waffle about bank charges being fair, under 140A of the CCA my relationship with the bank has not been unfair, running of my accounts inc charges are not the fault of PPI, bank charges relate to operation of the account, bank charges laid out in T&C, bank charges not the fault of PPI.

 

Ombudsman contacted!

[caro]

Hi Dr Hunter.

 

Very interested in this having had loans with Yorkshire Bank around the same time as you, and they wouldn't have given them to me had I not had PPI. I had no info on the PPI from them but like you I have statements showing what I paid.

 

What did you actually say to them when you made your claim?

 

How long from making the claim did it take them to pay?

 

Were there many letters to and fro before they paid up?

 

Have you looked at BCOBS with regard to bank charges?

[Dr Hunter]

Hi Caro, I first sent a S.A.R. in 2007 which, although at the time was to pursue bank charges, specifically asked for loan account information. for the last five years I have had every pile of nonsense from them, some contradictory, while trying to get the original credit agreement: they are not obliged to provide me with it, they do have it and will send it for £1, they don't have it etc etc. I finally complained to the Ombudsman about their failure to provide me with this information and about their handling of the case.

 

The ombudsman essentially said that there was nothing they could do as the banks procedures meant that they no longer had the thing. At this point I believed the case to be lost as the CC in question dated back to 2001.

 

I sent the bank a letter asking for the PPI back while describing the 5 year nightmare I had trying to aquire information I had been legally obliged to recieve. Low and behold they upheld the case and offered the amount of the PPI plus 7% interest "to place me in the position I would have been in had it not been for the PPI".

 

I replied stating that the initial PPI had resulted in bank charges which snowballed across theirs and several other accounts. I included a spreadsheet detailing occasions where the PPI + charges as a result of PPI had been greater than the amount overdrwan or amount of payment missed adding the resulting charge to the former figure. I offered them the opportunity to pay back the total figure in a quickly and hassle free in exchange for me not pursuing the compound interest charged to me on CC as a direct result of the accumulated PPI plus charges.

 

the above post explains their reply.

Hope this helps,

 

Cheers

DH

[caro]

Hi Caro, I first sent a S.A.R. in 2007 which, although at the time was to pursue bank charges, specifically asked for loan account information. for the last five years I have had every pile of nonsense from them, some contradictory, while trying to get the original credit agreement: they are not obliged to provide me with it, they do have it and will send it for £1, they don't have it etc etc. I finally complained to the Ombudsman about their failure to provide me with this information and about their handling of the case.

 

 

 

The ombudsman essentially said that there was nothing they could do as the banks procedures meant that they no longer had the thing. At this point I believed the case to be lost as the CC in question dated back to 2001.

 

 

 

I sent the bank a letter asking for the PPI back while describing the 5 year nightmare I had trying to aquire information I had been legally obliged to recieve. Low and behold they upheld the case and offered the amount of the PPI plus 7% interest "to place me in the position I would have been in had it not been for the PPI".

 

 

 

I replied stating that the initial PPI had resulted in bank charges which snowballed across theirs and several other accounts. I included a spreadsheet detailing occasions where the PPI + charges as a result of PPI had been greater than the amount overdrwan or amount of payment missed adding the resulting charge to the former figure. I offered them the opportunity to pay back the total figure in a quickly and hassle free in exchange for me not pursuing the compound interest charged to me on CC as a direct result of the accumulated PPI plus charges.

 

 

 

the above post explains their reply.

 

Hope this helps,

 

 

 

Cheers

 

DH