PPI Reclaiming successes and failures

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Comments

  • Hi all
    First of all would like to say If I could have gambled my house on us NOT having PPI I would have.
    We have received over £8000.00 in refunds from Barclays with 3 different PPI refunds.

    Can I now ask has anyone had a similar experience?
    We received a refund as follows:
    PPI loan £130.73
    Monthly pymt: £56.68
    Start date: 24/5/99
    Scheduled End date: 14/10/99
    Ann Int rate: 18.580%
    BID refund: £82.79

    Basically we got a total refund of £1577.00 but NO refund of Interest or NO refund of compensation.
    I have no idea how they got to the figure of £1577.00 but I though all claims would come with Int and Compensation?

    Can anyone advise please?

    Thanks
  • I was using a PPI company to claim against HFC bank, they have just written to say that HFC is too difficult to claim against so they are stopping my claim. Do you think I should claim myself?
  • dunstonh
    dunstonh Posts: 116,252 Forumite
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    Basically we got a total refund of £1577.00 but NO refund of Interest or NO refund of compensation.

    There is no compensation on PPI claims. There is interest though. Looking at those figures, there does appear to be interest.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • dunstonh
    dunstonh Posts: 116,252 Forumite
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    Deborah76 wrote: »
    I was using a PPI company to claim against HFC bank, they have just written to say that HFC is too difficult to claim against so they are stopping my claim. Do you think I should claim myself?

    It is always easier to complain yourself rather than use a CMC.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • scrimpingannie
    scrimpingannie Posts: 16 Forumite
    edited 27 April 2017 at 3:52PM
    dunstonh wrote: »
    There is no compensation on PPI claims. There is interest though. Looking at those figures, there does appear to be interest.

    I have had two other claims which have included Int charged and Compensation interest. This claim which is the largest premium value has come back with NIL.

    No it states Refund of PPI premiums paid: £1577.00
    Refund of int charged on premiums paid: £0.00
    Statutory compensation Interest: £0.00
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    First Anniversary Name Dropper Photogenic First Post
    I have had two other claims which have included Int charged and Compensation interest. This claim which is the largest premium value has come back with NIL.
    You can ask the Bank for a breakdown and explanation of the redress award.
  • Medor
    Medor Posts: 1 Newbie
    Hi there
    I had a PPI reclaimed back form Barclays using Red Star Ltd as a broker for it!
    Now I have to pay them almost half of it as a fees?
    What would be the consucuences for me if I don't pay their fees?
    Thanks
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    Medor wrote: »
    What would be the consucuences for me if I don't pay their fees?
    A trashed credit rating and debt collectors initially. Then court and ultimately a CCJ.
  • dunstonh
    dunstonh Posts: 116,252 Forumite
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    I had a PPI reclaimed back form Barclays using Red Star Ltd as a broker for it!

    There are no brokers in complaints. The regulated complaints service is provided free of charge. What you did is employ a third party to put a stamp on the envelope for you but they are certainly not brokers.
    Now I have to pay them almost half of it as a fees?

    You signed the contract. You tell us how much you have to pay. We cant answer that question.
    What would be the consucuences for me if I don't pay their fees?

    CMCs vigorously go after those idiots who try to scam them out of money. Courts will nearly always award in their favour. So, you would be looking at a County court judgement against you and a small award of costs against you. The consequences of this could also affect your employment as many employers nowadays can dismiss staff who have awards against them depending on their role. Your credit record will be trashed at the same time.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • You can ask the Bank for a breakdown and explanation of the redress award.
    They have provided a breakdown but it makes no sense at all.
    I am just confused as to why two claims would be given the Interest refund and compensation Interest and this claim being the largest has not been given either.

    I thought if they had Upheld your claim they have to give you back Int & compensation also.
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