Nationwide PPI

[tosh1]

Hi

 

I use to have a Nationwide load and took out a PPI and I had no choice. I want to claim this back. I don't know the account number. How would I go about this?

 

Regards

 

Tosh1

[ims21]

You could either give them a call or if you want to be able to work out what any refund should be you should SAR them for the agreement and statements of account.

[tosh1]

I spoke to them today and got my load account number. What would be my next step. Do I add interest?

[ims21]

Have you got the agreement or the details from it and also the record of payments made?

[tosh1]

Hi IMS21

 

No I havent any paperwork.

 

When I spoke to them yesterday they told me that I took a £5000.00 loan in 2002 and was charged 700+ in ppi. I then took out a top up loan in 2003 of £20000.00 and was charged again. Is there anything I can do to get the paperwork?

 

Thanks once again for the reply.

 

TOSH1

[ims21]

SAR them to get as much data as you can on this.

[tosh1]

How do I SAR them and how much will it cost? Is there a template that I can use?

[ims21]

Been here since 2008 and don't know what a SAR is? I am surprised.

 

Template is here

 

http://www.consumeractiongroup.co.uk/forum/content.php?552-Data-Protection

 

Add a line that says it is to include copies of all and any agreements you have had with them.

 

Cost is £10 and they will have 40 days to comply.

[tosh1]

SAR

 

Sorry just looked at it. I do know what this is.

 

Thanks for this. I'll get this posted off today.

[ims21]

Sorry just looked at it. I do know what this is.

 

Thought so

 

[tosh1]

I've not recieved a reply to this yet? I did give them 40 days notice what would be my next step

[ims21]

Did you send it recorded or some other trackable method?

 

Has the payment been cashed?

 

If their 40 days are up then ten send them the failed SAR letter form the library.

 

You can head it "Letter Before Action" and give them 14 days to supply your data.

 

If they fail to do so you can either report them to the ICO or, if you wish, sue them in court to force compliance.

[tosh1]

OK. I got the paperwork today including the application form, What am I looking for?

[ims21]

You said earlier that you had two loans, one of which was a top up.

 

So you would be looking for two loan agreements and the statements of account for both.

 

Are they in the bundle you received?

[tosh1]

Yes I have received two agreements. They both have insurance on there

[ims21]

OK have a read of No.1 in my signature. This will tell you how to work out what amount is due back to you.

 

If one loan refinanced the other then you will have PPI from one loan rolled into the second. If loan 2 did not refinance loan 1 and they were two distinct loans then you have two distinct claims.

 

There are spreadsheets at the end of the article which will help you work out the figures.

 

If you get stuck, shout here.

 

When done, the next thing will be to download a fos consumer questionnaire from here....

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

 

Complete the questionnaire and send it together with copies of your spreadsheet to the lender. They will have 8 weeks to investigate and give you a final decision.

Edited February 2, 2014 by ims21

[tosh1]

Hi

 

I know that this has been nearly a year but I have not done anything because I don't really understand it.

 

However I am now determined to understand and see this through so please beer with me on this.

 

Thanks

[tosh1]

I have been going through my statements,

 

I took out a loan of £5000.00 in September 2001,

 

The insurance was £740.39 and the interest was £1058.33.

 

I paid until Septemeber 2002 and took out a top up loan,

 

I was given a rebate of £539.86 insurance and then charged 1034.80 insurance.

 

In January 2004 i topped this loan up again and took out a further £14427.59 loan.

 

I was given a insurance rebate rebate of £758.85 and then charged £3736.89 insurance.

 

How do I calim this back and can i claim back interest?

 

you can claim back the interest the PPI cost you yes

 

have a read of no.1. below

 

dx

[ims21]

In going through your statements have you found out what the monthly repayments were?

 

Have you read the article at No.1 in my signature?

[dx100uk]

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

 

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

 

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors? Read Here

6. Staying Calm About Debt Read Here

7. Thinking of a Full & Final Settlement? Read Here

[tosh1]

In going through your statements have you found out what the monthly repayments were?

 

Have you read the article at No.1 in my signature?

 

OK i think post 5 applies to me. Is there a spreadsheet that I can use?

[ims21]

Could you answer the questions please?

 

You said you have been going through your statements....have you found the monthly repayments for these loans? It would make life much simpler if you have these figures.

[tosh1]

I have found a spreadsheet.

 

Not sure if this is correct. Where can I get this checked?

[tosh1]

Could you answer the questions please?

 

You said you have been going through your statements....have you found the monthly repayments for these loans? It would make life much simpler if you have these figures.

 

Yes Sorry

 

In October 2001, My first payment was £141.64 until October 2002 and this went up to £161.49 until February 2004 when they went up to 352.51

[ims21]

Ok you will need the 1st spreadsheet here called StatIntSheet.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011(1-Viewing)-nbsp

 

You will need to know the percentage of the loan that relates to PPI for the first loan and in this case it is 740.39/5740.39 x 100 = 12.9%. That means that 12.9% of each repayment you made on the first loan is for the PPI.

 

Again, in this case it is 12.9% of £141.64 = £18.27.

 

In the spreadsheet, list each payment of £18.27 you actually made, i.e. up to the date that the loan ceased.

 

When you have done that bit come back here and we will work on the amount rolled into loan 2.