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Natwest PPI Good Will Gesture

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hi, i was wondering if anybody could answer my queries.

i wrote off to Natwest, enquiring if i was due any PPI from previous loans. They have wrote back to me with two loans i previously had, and a good will gesture. They claim that they cannot process any information from what was offered to me etc etc, your usual generic letter and therefore offer me this gesture. I personally see this as a way of fobbing me off because theyd rather entice me with this cash, than pay the full amount due. Here are the details

 

1) Jan 2008 - £1000 loan APR 28.1% (closed July 2008 - i assume that i payed this off with loan 2)

2) July 2008 - £1900 Loan APR 28.2%( closed Aug 2011)

 

On loan two, i had been paying 91.27 for 3 years and 1 month. In this time, i had claimed the insurance, which the bank paid out 4 times (due to being out of work).

 

They gesture they have offered me is as follows:

Total refund of PPI and associated interest paid to date: £267.98

Gross Interest: £44.82

Less Tax (20%): £8.96

Net Interest: £35.86

Total: £303.84

 

Of course, taking their offer would help me out now. But, i cant help but feel fobbed off. And although its not 1000's like many other peoples claims, even an extra 50-100 quid would be great in this day and age. Any help on my next steps would be greatly appreciated. Thank you

 

Jordan

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Have you got the agreements and statements of account?


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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

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5. Feel Bullied by Creditors or Debt Collectors?

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6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

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i havent no. i have moved house various times since and they have been thrown away/lost in moves. thanks for the quick reply.

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Ok you can either SAR the lender to get the data or you can tell them to provide you with a detailed breakdown of how their figure is calculated.

 

If sending a SAR, add a line that says it is to include copies of all and any agreements you have had with them.

 

There is a template in the CAG library, the link to which is at the top of every CAG page in green. The cost is £10 and they will have 40 days to comply.


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

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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i have called them and asked for a detailed breakdown of their calculations etc. once i receive it, i will post again. thank you

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As suggested by ims I would recommend calculating what the redress should be yourself.

 

Following my PPI complaint RBS (Natwest) made an offer that was some way short of what I had calculated. After a bit of back and forth (and them not budging) this is now with the FOS.

 

I strongly suspect that they are making low offers safe in the knowledge that a high proportion of people will just accept on the basis that either they don't have the time or inclination to calculate an accurate figure themselves or because they would rather settle for a lower sum without further aggravation or having to wait longer.

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