PPI Challanger Vs NW

[PPI challanger]

Hi all finally received my SAR from NW. Suprise suprise PPI included - even more suprising they sent the original on line application complete.

 

As can be shown in the attachment the PPI box was pre-ticked.

How does this affect my claim?

I was claiming on other reasons anyway but does this help?

 

Also I have statements going back to 2007 but not before is it ok to average this for the other 5 years back to 2002? If I create the spreadsheet is someone able to check for me?

Edited September 7, 2013 by PPI challanger

[PPI challanger]

Here is the attachmeent

[PPI challanger]

Have created my spreadsheets...

Is there someone that can review and advise on how to approach my letter to NW?

Looking like my claim will be btween 6K and 10K (maybe more if my numbers are understated). So be very keen for some help - of course a donation if I win

 

PPI Challanger

 

p.s. my data is actual values so dont want to add here incase of prying eyes from NatWorst

[PPI challanger]

So onwards with my monologue and some aprox figures:

From 2007 the total ppi payments were ~3500 average 45 per month - which would make (according to the spreadsheet) a total of 7k including interest on the ppi.

 

If I take the average of 45/ month back to 02 when the card started I get in the region of 2.5k

 

Now that would be a total of 9.5k. However if I then deduct the 2.5k from my original sheet 2007-2013 it seems to jump the total to (2007-2013 12k + estimated 02-07 2.5k) total - 14.5k

 

Can anyone estimate if these are good figures and should I do it this way?

[PPI challanger]

no-one available to review this?

I have created some sheets that illustrate my problem.

(1) Tst FOSRunning is an approximate of my actual account ballance. rounding some numbers.

(2) TMPCIS is the estimated for Pre-2007 where I have received no data from Nat West.

 

One thing I notice is if Is the compound interest is not right in one of the sheets in 1. I can see estimated charges=2525 and Compound interest =445 but in 2. Estimated PPI=3050 but Compound interest = 3711.

 

This seems like one of the sheets is incorrect - can someone advise please.

 

also in the FosRunningsheet it does not account for the balance from 2002-2007 (2900GBP). is there any way I can do that? It would have an impact on the 8% balance.

 

Thanks

[PPI challanger]

I am also considering sending this cover note:

Thank you for providing mycomplete SAR request. Although I havestill not received the information regarding my current accounts Sort Code: xxxxxAccount number: xxxxxx.

Based on theinformation received Ibelieve I have been miss-sold payment protection insurance policy and wouldlike to request a full refund of my premiums, plus interest paid.

Itook out the abovereferenced credit card on 2002/April/09and also bought a payment protection policy which hascost extra over theterm of the PPI premium. My reasons for claiming the refund are:

· WhenI took out the loan, I was told that my application would be refused if I didnot also buy a PPI policy. The Financial Services Authority’s advice toconsumers is that, while it does not breach FSA guidelines, a borrower shouldnot be refused a loan if they choose not to buy an insurance policy.

· The PPIselection was pre-ticked by Natwest. Thisalso includes the Card Protection Type (1 Year) which is shown on the Creditcard application form. (I have noknowledge of protection types)

· When I tookout the Credit card I had a very good insurance policy with my employer. I wasnot asked about this insurance which would cover the Credit card. My company insurance would have covered me for12 months in the case of sickness or redundancy.

· You did nottell me I had the option of taking out alternative insurance policies and I wasnot made fully aware of the cost of your “mandatory” Insurance policy

· The Terms& Conditions of the small print were not fully explained to me

· During theterm of the credit card I moved to Japan (Late 2003). This means the insurance policy would bevoid. This was clearly not told to me.

Iam requesting a full refund of all my insurance payments, plus interest (and also covering costs of additional insurance andlate payment costs (where my balance should have been positive):

From2002-2007 June 15th = 2970

(this isbased on my average payments from 2007-date as your did not comply with my SARfor the date prior to July2007

From2007-Date = 6792

Total value –9762GBP

Please haveattached the relevant completed FOS spreadsheets for your reference.

IfI do not receive a favorable response from you I will pursue this claim throughthe Financial Ombudsman.

[fuzzgun19]

No advice sorry, but just wanted to say good luck, and your letter sounds great.

[theoldrouge]

I am also considering sending this cover note:

 

Thank you for providing mycomplete SAR request. Although I havestill not received the information regarding my current accounts Sort Code: xxxxxAccount number: xxxxxx.

 

Based on theinformation received Ibelieve I have been miss-sold payment protection insurance policy and wouldlike to request a full refund of my premiums, plus interest paid.

 

Itook out the abovereferenced credit card on 2002/April/09and also bought a payment protection policy which hascost extra over theterm of the PPI premium. My reasons for claiming the refund are:

 

· WhenI took out the loan, I was told that my application would be refused if I didnot also buy a PPI policy. The Financial Services Authority’s advice toconsumers is that, while it does not breach FSA guidelines, a borrower shouldnot be refused a loan if they choose not to buy an insurance policy.

 

· The PPIselection was pre-ticked by Natwest. Thisalso includes the Card Protection Type (1 Year) which is shown on the Creditcard application form. (I have noknowledge of protection types)

 

· When I tookout the Credit card I had a very good insurance policy with my employer. I wasnot asked about this insurance which would cover the Credit card. My company insurance would have covered me for12 months in the case of sickness or redundancy.

 

· You did nottell me I had the option of taking out alternative insurance policies and I wasnot made fully aware of the cost of your “mandatory” Insurance policy

 

· The Terms& Conditions of the small print were not fully explained to me

 

· During theterm of the credit card I moved to Japan (Late 2003). This means the insurance policy would bevoid. This was clearly not told to me.

 

 

 

Iam requesting a full refund of all my insurance payments, plus interest (and also covering costs of additional insurance andlate payment costs (where my balance should have been positive):

 

From2002-2007 June 15th = 2970

(this isbased on my average payments from 2007-date as your did not comply with my SARfor the date prior to July2007

 

From2007-Date = 6792

 

Total value –9762GBP

 

Please haveattached the relevant completed FOS spreadsheets for your reference.

 

IfI do not receive a favorable response from you I will pursue this claim throughthe Financial Ombudsman.

 

First you need to go back to Nat west and request statements back to 2002, they do hold this information .

 

When you have these post up accurate calculations to be checked,

really is no need for secrecy, no one can help with fantasy figures .

 

Card protection plan is not PPI, but is a separate matter being dealt with by the FCA.

 

You should be receiving a letter soon about this from nat west.

 

You need to stick to just the main point of why you were miss old PPI, do not use every reason under the sun ,

it looks desperate

[PPI challanger]

Thanks theold Rouge.

I have been persuing Natwest for my SAR since January and they are now claiming to have sent everything they have on my acount. i am sending a new final letter of complaint and will also send a letter of complaint to the relevant authority.

 

However I am feelling I would like to make progress with the PPI complaint (is this bad or hasty?). I also agree that the scatter effect of complaint is incorrect - although I do feel I have some reasonable areas of compalint so have re-worded my complaint letter (also removed the insurance part - this is an error from my barclaycard calim- cut and past) is the below a sensible letter?

 

also included my actual spreadsheets below

 

 

"Dear Sir/Madam,

 

Thank you for providing mycomplete SAR request. Although I havestill not received the information regarding my current accounts Sort Code: xxxAccount number: xxx and you have still not provided my statements from 2002-2007 for the natwest credit card detailed baove

 

Itook out the abovereferenced credit card on 2002/April/09and also bought a payment protection policy which hascost extra over theterm of the PPI premium. For the following reasons I do not think you did thenecessary steps to ensure your PPI package was the right thing for me to have.

 

· At the timeof taking out the credit card it was not made clear to me that the PPI policywas optional and in reviewing the documents you sent me I believe the selectionof PPI was pre-determined and not a selection I would have made.

 

· Havingreceived your SAR data I have also noticed you tried to send me a review letterregarding my PPI. This letter is dated15May2012 and was sent to an address I was no longer living at (I thereforenever received it). In reviewing thisletter I have noticed that when I took out the original credit card none of theterms or conditions were informed to me. In specific details:

 

o For accidentand sickness + redundancy it shows the policy is only valid for 12months.

 

§ At the time of taking out the loan I had good insuranceand redundancy pay which in itself would have covered me for this initial12months.

 

o The agreementalso shows that I must work in the UK to be eligible.

 

§ I have been living and working in Japan since October2004. This means I have been paying fora policy for almost 9years that I have been ineligible.

 

 

Iam requesting a full refund of all my insurance payments, plus interest (also covering late payment costs):

 

From2002-2007 June 15th = £2492 Charges + £7660.34 Interest charges

Totaling: £10,152.34

(this isbased on my average payments from 2007-date as you did not comply with my SARfor the date prior to July2007)

 

From2007-Date = £3160Charges + £5018.41 simple interest (whilst the card would havebeen in credit.

 

Total value = £18,330.75

 

Please haveattached the relevant completed FOS spreadsheets for your reference.

 

IfI do not receive a favorable response from you I will pursue this claim throughthe Financial Ombudsman.

[theoldrouge]

yes too hasty at the moment, persistence and extreme patience is the key. You need to send letter of non compliance to the data controller, TELLING them what information you require. You really need those missing statements if you are to get a good idea of what natwest owe you and also to get the average int rate they charged you [different rates may have been used for purchases,cash,bal tfrs] you need to work out the average. Give them 14 working days in which to comply[ inc your current ac details you asked for. Never a good idea to mix a sar non compliance letter with a ppi complaint. Keep the two issues seperate. Keep your letter to the main reason for miselling, expand the details on your enclosed FOS questionaire

[PPI challanger]

yes too hasty at the moment, persistence and extreme patience is the key. You need to send letter of non compliance to the data controller, TELLING them what information you require. You really need those missing statements if you are to get a good idea of what natwest owe you and also to get the average int rate they charged you [different rates may have been used for purchases,cash,bal tfrs] you need to work out the average. Give them 14 working days in which to comply[ inc your current ac details you asked for. Never a good idea to mix a sar non compliance letter with a ppi complaint. Keep the two issues seperate. Keep your letter to the main reason for miselling, expand the details on your enclosed FOS questionaire

 

Thanks. Sent a final letter (I hope)off to NW asking for all statements, this costs me a lot... Almost 10pound a letter for recordered delivery from Japan so I hope it is worth it . I told them 7 days before I complain so I hope they will meet that.

 

Once I get the response I will update everything and see what you think (if that's ok)...

[PPI challanger]

Failed SAR response sent. Received on 16th September. Wait and see what comes back.

[PPI challanger]

Spoke to natwest last night and they are sending me a letter (should receive anyday) detailing an offer of ~10K (Very nice indeed).

However once I receive I will ask for some advice as my calculations seem to hint at anything from 12K to 33K.

 

(this is for a credit card).

They have also opened up a claim on a loan I took out in 2000 which had 750pound PPI included. this seems to hae been rollwed over into another 4 additional loans - expect a decision on that on christmas eve

[PPI challanger]

Hi All after some advice now.

Just received the offer from NW and it is as follows:

A gesture of goodwill and without and admission of liability

Refund of premiums paid = 4700

Compound interest = 5250

Gross interest - tax =700

 

Total offer= 10700(ish).

 

So looking at my spreadsheet this works out that they have applied an interest rate of 17.44% (approx).

 

Now looking at my statements I have the following interest rates (although I have some substantial cash advances at 0.547%/Monthly)

2002-Oct 2004 - 17.44apr

oct 2004-Feb 2010 - 18.44

Feb 2010- Sep 2010 - 23.95

sep 2010-date- 25.93

 

The majority of my bill pre 2010 was cash transfer at the lower 0.547/month after 201o aprox 80% of my bill was purchases at the higher rate.

 

Now obviously depending on what rate I pump into the attached spreadsheet varies the amount of redress due.

 

My question.\ - should I challange the offer or should I accept?

In favour of accepting is 10K is a substantial amount of money and it is close to Christmas - also if i challange is it possible they will retract the offer?

against accepting is the fact that this is their first offer and it seems like a rash offer to make me accpet