PPI Reclaiming discussion Part III

marshallka

di3004 wrote: »

Hi there
If this is through a bank then yes you need to continue with the claim, was it taken out with a bank hun?
Who with if you don't mind me asking?

The FOS are investigating mine, which is a credit card PPI taken out in Jan 2001, although this was with my bank of Lloyds TSB,, please let us know hun so we know so we can help you, cheers.;)

Di
x

It was MBNA Di...

marshallka

di3004 wrote: »

Hi there
Even though it seems a nice amount of money, I agree with Marshallka here, it seems low for what it was etc, I am sure Marshallka will come along at some point here to go over this for you.;)

If they agree to mis selling, they should put this back right as if you did not have this in the first place, plus interest and generally 8% interest on top again of what a court would award.;)

Di
x

Its a battle here as although they will not show a rebate of the ppi as we know they sometimes (I found that out myself with CO-op etc) refund some of the interest of the PPI in the interest rebate.

marshallka

di3004 wrote: »

I may be wrong and will have to check but I am sure you will be able to continue with the FOS to have this investigated.
The adjudicator is dealing with mine right now and not a problem with jurisdiction, with banking issues I am sure its not a problem, maybe someone else will be able to confirm this for you here hunni, fingers crossed, but in my opinion it should be okay.;)

Found in the FSA register search MBNA that they were authorised in 2001, A&L have so many banking authorities as it seems.
204487 - MBNA Europe Bank Limited


AuthorisedEffective Date:01/12/2001

Maybe its A&L you would have to go through here to complain then.

Di, although they were authorised with the FSA at that date it means nothing to the sales of INSURANCE. Sales of insurance only became authorised by the FSA at 14th January, 2005 and before that if they were a bank or members of the GISC etc. Its not the date that they were authorised by the FSA that matters here. In order for the complaint to come under FOS'S jurisdiction it has to be when they were authorised to sell insurance.

di3004

marshallka wrote: »

Di, although they were authorised with the FSA at that date it means nothing to the sales of INSURANCE. Sales of insurance only became authorised by the FSA at 14th January, 2005 and before that if they were a bank or members of the GISC etc. Its not the date that they were authorised by the FSA that matters here.

Yep I realise that now, think its because I have one being dealt with (CC PPI) that was the same year of 2001 that confused me here.:o

maxdp

maggie110 wrote: »

Anybody ??????????

Hi am sure Marshallka can verify my calculations but as a rough guide I would say 1488.14 plus 944.88 interest is equal to 2433.02 divided by 5 is equal to 486.60 per year plus 8% simple interest per year equals 38.92 x 5 = 194.50
so 194.50 plus 1488.14 plus interest of 944.88 is equal to 2627.52. Hope that helps let us know your figures when they send them to you. Good Luck I am not saying that these are how they are going to work them out but these are just a guide.

Good Luck

di3004

maxdp wrote: »

Hi am sure Marshallka can verify my calculations but as a rough guide I would say 3110.00 plus 5 x 49.76 % simple interest of 49.76 per year is equal to
3110.00 plus 248.80 is 3358.00 if you get more than that take it and keep quiet. If less put figures up on here and somebody will work it out I am sure.:D

Hope that helps as a guide as how they worked mine out but who knows:rotfl:

Hiya Max, wow so we have another calculator brain on here then ?:T , I am so hopeless when it comes to calculations, even with a calculator......:o , oops.....I don't know how I passed maths at school....... .

marshallka

maggie110 wrote: »

Cut a long story short after nearly 1 year Royal Bank of Scotland are going to refund my PPI at 8% per annum the loan has now finished. Could some one please do a calculation for me its a case of the A, B, C way working out the amount as i have seen others post about,



Loan-£5500

PPI-1488.14

Total of loan-£6988.14

Intrest-£2341.86

Total to pay- £9330.00

APR-12.7%

60 monthly payments-£155.50




It has been worth the wait and the battle but would just like to know how much they should be paying out, Many thanks go to this forum and all the help that it gives to joe public !

FOB have said i should get my refund in about 6-8 weeks !

You would get back if you are saying about the FOS way and also the way most banks do this too

They do a calculation by whatever method would have been used in your settlement (ie rule of 78 or the new regs of 2004) with the PPI and then without the PPI and then add 8% interest on top of that figure.

I tried my figures from the co-op in this as rule 78 was used in all my settlements and its spot on to the penny.

marshallka

maxdp wrote: »

Hi am sure Marshallka can verify my calculations but as a rough guide I would say 1488.14 plus 944.88 interest is equal to 2433.02 divided by 5 is equal to 486.60 per year plus 8% simple interest per year equals 38.92 x 5 = 194.50
so 194.50 plus 1488.14 plus interest of 944.88 is equal to 2627.52. Hope that helps let us know your figures when they send them to you. Good Luck I am not saying that these are how they are going to work them out but these are just a guide.

Good Luck

Maxdp, how do you get the to this figure... .

The PPI plus interest would be appox £1963.64 in total. (BEING APPROX 32.72 PER MONTH)

You would then look at what the settlement would have been if the PPI was not applied and what it was with the PPI and then they pay you the difference. This is the a, b, c method.

Tiggraes method just does not work and works out far more than you should actually be getting.

sacbaby37

di3004 wrote: »

Hiya hunni
Nah your not sounding dumb, we have all been there.;)

Yes it will be Barclays you write to then, now I will add some addresses for you, however, I feel the Credit Card charges would be the refund address at the bottom, and if someone can confirm on here about the PPI, it should be one of these addresses below.;)

BARCLAYCARD CUSTOMER RELATIONS DEPARTMENT,
PO BOX 6476,
NORTHAMPTON,
NN4 1ZN

Barclaycard
Barclaycard House
PO Box 5592
Northampton
NN4 1ZY



Barclays Bank PLC
1 Churchill Place
London
E14 5HP


Barclays Bank PLC
Leicester
LE87 2BB


Keith Jeremiah -- Legal Executive
Tel: 02071162705
Fax: 02071167661
@: keith.jeremiah@barclays.c om

Customer Relations
Consumer Finance
Barclays Bank Plc
Astley Byrom House
Manchester
M3 4AE

0207 116 4561.
Mike Brophy
Head of Customer Relations

Peter Townsend
Manager,
Barclays Data Protection
Radbroke Hall
Knutsford
Cheshire
WA169EU
Tel 01565614000
Fax 01565613583

BARCLAYS BANK PLC NEW ACCOUNTS,
DEPARTMENT 1,
GOLDFISH
GLASGOW,
G68 9ZP

Barclays Bank PLC
Privacy & Data Protection
Radbroke Hall
Knutsford
Cheshire
WA16 9EU

Tel: 01565 614000 or [text removed by MSE Forum Team - no longer correct number] / Fax : 01565 613583 or 01565
614208 0845 6090806

Barclays Bank PLC
Charges Refund Team
1 CHURCHILL PLACE
LONDON
E14 5HP

Tel: 0800 282390

Hi Di, thanks again your a star, i will get onto it straight away, sents letters to cap one, citi finance and sky card for statements but not recieved anything yet so will keep you posted. Sez :A oh and do i have to calculate interest on the PPI aswell or will they do that?

maxdp

marshallka wrote: »

Maxdp, how do you get the to this figure... .

The PPI plus interest would be appox £1963.64 in total. (BEING APPROX 32.72 PER MONTH)

You would then look at what the settlement would have been if the PPI was not applied and what it was with the PPI and then they pay you the difference. This is the a, b, c method.

Tiggraes method just does not work and works out far more than you should actually be getting.

Thats is fine was working it out as I has been told but knew if i got it wrong you would put right figures on here:rotfl::rotfl: That is why I said you would verify well done Marshallka:T:T:T