PPI Reclaiming discussion Part III

di3004

Aggy wrote: »

I received a letter from the FOS saying that my ppi case should succeed as Lloyds pressured me into the PPI and has told me that Lloyds will be writting to him with an offer of compensation. But am confused as to how it is worked out as don't want to be conned by lloyds any more.

I originally took out a loan for £8k in september 2005 with monthly (84 months precisely) of payments of £196.22 including PPI. In september 2007 I cancelled the loan and had it redone with monthly (60 months) of £168.39 with an original loan start amount of £7,620.07. Both loans had interst of 16.9%

The PPI works out at a single payment lump sum of £2,279.54 with interest over the period as £3,654.84. Now I was never any good at accountancy but the ombudsmen states that Lloyds have to take the original amount and work out my repayments without the PPI and restructure the loan accordingly from the start date including interest on payments I have already made and any compensation I am owed.

I was also award £200 for destress and inconvience

If any understands this and could tell me if I have any more to pay off the loan it would be much appreciated.

thanks

Hi Aggy

Its good news this is being sorted out hunni, so well done there.:T .

Now I am sure Marshallka or someone who is good with calculations, unlike myself lol , will be along at some point today, and will check this over for you.

Good luck with this hun and yes I agree they should also award the £200 for the distress and inconvenience they have caused.;)

Di
x

di3004

showergirl wrote: »

Call their bluff and ask for a copy of the tape. They may just be trying to scare you into not reclaiming. It seems to be the way these firms are going these days. They think if they mess us around enough we will give up

Exactly Showergirl, I totally agree with you.:T xx

Dreamer06

Thanx hun, will do that nowX

showergirl

Dreamer06 wrote: »

Thanx hun, will do that nowX

Let us know what they say.

Good luck

tired_mum

Hi all
Have just recieved a letter from HSBC re PPI reclaim and they have said they will need at least 4 weeks and then maybe another 8 surely its 8 weeks in total from when they got the letter does this include weekends and also another quick question does any monies refunded have to come off the loan or can you have it payed seperatly?
Thanks

di3004

Hi there

Yes 8 weeks are ample time for them to sort this out for you.

If you not happy with this hun, you can complain to the FOS if not dealt with by the 8 weeks, I also include weekends and take it every else does as well, unless someone can confirm otherwise.

If you do not hear, and if you want to take this to the Financial ombudsman to investigate you can either download forms from the FOS site or ring them to send you them through the post.
Here is the link here:
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

When you fill the form in, also get some photocopies done keep one for yourself, the finance company and send one to the FOS, also to remember to enclose copies of any correspondence you have received from the finance company, then also send one to the finance company with a letter and say
"I believe you've had ample time to deal with my complaint, 8 weeks are what your entitled to, as this is not resolved now the 8 weeks have passed, I have made my decision to take this to the Financial ombudsman service in order for them to invesitigate, I enclose a copy of the complaint form for your records and interest."

The finance company will still be able to investigate even if this is being dealt with by the FOS, if you get good outcome, you then just let the FOS know, good luck and please let us know how you get on, cheers.;)

Di
x

di3004

tired_mum wrote: »

Hi all
Have just recieved a letter from HSBC re PPI reclaim and they have said they will need at least 4 weeks and then maybe another 8 surely its 8 weeks in total from when they got the letter does this include weekends and also another quick question does any monies refunded have to come off the loan or can you have it payed seperatly?
Thanks

tired mum, I forgot to add this.....

You can ask them to pay this directly back to you, although they may suggest this come off your loan.
However, if your successful here and you prefer this paid back to you, tell them that in writing, and the loan should be reduced then anyway.;)

showergirl

tired_mum wrote: »

Hi all
Have just recieved a letter from HSBC re PPI reclaim and they have said they will need at least 4 weeks and then maybe another 8 surely its 8 weeks in total from when they got the letter does this include weekends and also another quick question does any monies refunded have to come off the loan or can you have it payed seperatly?
Thanks

Give them 8 weeks from when you send off the letter. If you do not hear anything back then send another letter but also complain to the FOS. They are just trying to fob you off as other companies are doing in the hope that we will give up. If you need any support you can always log on here. There are people on this site who will help and support you all the way. They are a fantastic group and great friends in times of need.

tired_mum

Hi Di thank you for the reply hopefully they wont take too long as this letter was sent a week after recieving ours the other question was because OH said i could have the money(its his loan) and i want a hot tub:D only joking

di3004

tired_mum wrote: »

Hi Di thank you for the reply hopefully they wont take too long as this letter was sent a week after recieving ours the other question was because OH said i could have the money(its his loan) and i want a hot tub:D only joking

lol :rotfl: :rotfl: , well that gave me a right giggle lmao .

With pleasure hun, hopefully they will get back to you within their timescale they have, fingers crossed.;)
And like what our Showergirl said, come and join in here anytime hunni, your very welcome.:D
Di
xxx