PPI Reclaiming Discussion part 4

townli

di3004 wrote: »

Hi and welcome.

Have you still got hold of your policy details for this with the terms and conds?

Some companies differ, but to what I know of 16 hours or less,or maybe 18 hours or less on some polices would not cover.

If you no longer have these I would request for them and check them over, however there are lots of other reasons too for being mis sold check the guidelines of reclaiming here:

Check this out.;)

Thanks. I wrote to them recently requesting all the policy documentation and terms and conditions (after i discovered these had never been sent to me, as i was informed they would be when i took out the agreement). As a result I have a copy of the master policy. In relation to employment, this only states I must be in work, defined as paying National Insurance class 1. I was making these NI contributions at the time, so feel this may mean it wasnt mis-sold on these grounds.

goaliesmum

ellgirl wrote: »

Hi

Can anyone help with this, put in a ppi claim with Barclays on 28th Jan 2010, they replied asking me to fill out questionnaire, and told me they would get back to me by 25th February 2010. Now I have had another letter from them to say they need to look through various departments for further information regarding my case and they will reply by 25th March, which will be my 8 week deadline. Do I write back to them or wait until 25th March to see if they reply?

Any help with this would be appreciated, thanks

Hi ellgirl

Just so you don't get too disappointed in March, I have had both of those letters. My claim started Sept 09, the last letter I received was November.

I ring them every couple of weeks and get fobbed of with the "because of the huge amounts of claims due to the media coverage" blah blah line :mad:

Because I haven't had a final response can't pass to FOS but will be ringing them for advice tomorrow.

Hopefully you will get a better service

di3004

townli wrote: »

Thanks. I wrote to them recently requesting all the policy documentation and terms and conditions (after i discovered these had never been sent to me, as i was informed they would be when i took out the agreement). As a result I have a copy of the master policy. In relation to employment, this only states I must be in work, defined as paying National Insurance class 1. I was making these NI contributions at the time, so feel this may mean it wasnt mis-sold on these grounds.

I am not certain but hopefully someone can confirm, but there are lots of other reasons for being mis sold, for one if they added the ppi automatically, if they did not explain the policy to you etc, so do check the info out below to make sure, there is a checklist.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Blade29

I am a Northern Bank customer and took a loan out in June 2007. I was led to believe at that time that i wouldnt get my loan unless I took out repayment protection insurance. Has anyone been successful in a case with the Northern Bank and does anyone think I qualify?


Thanks

di3004

Blade29 wrote: »

I am a Northern Bank customer and took a loan out in June 2007. I was led to believe at that time that i wouldnt get my loan unless I took out repayment protection insurance. Has anyone been successful in a case with the Northern Bank and does anyone think I qualify?


Thanks

Hi there and welcome

I take it that it was Northern Rock that sold you this loan?
If so with your reasons you write to them and give them 8 weeks in full to respond.
You do seem to have good reason, but also check the link below to the guidelines of reclaiming to help you through this, check the checklist of mis selling reasons, there are templates letters, but personally I would write on your own words and use the template letter as a guide, and post by recorded delivery for your proof of posting.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance


There have been success with these, so if you do get the chance check through the success thread.
Keep on at them as well.

Good luck, ask for help when you need to and please keep us posted.

Cheers.

Di

Blade29

Hi there and welcome

I take it that it was Northern Rock that sold you this loan?
If so with your reasons you write to them and give them 8 weeks in full to respond.
You do seem to have good reason, but also check the link below to the guidelines of reclaiming to help you through this, check the checklist of mis selling reasons, there are templates letters, but personally I would write on your own words and use the template letter as a guide, and post by recorded delivery for your proof of posting.


There have been success with these, so if you do get the chance check through the success thread.
Keep on at them as well.

Good luck, ask for help when you need to and please keep us posted.

Cheers.

Di


Hi Di and thanks for your quick response.

No it was the Northen Bank in Northern Ireland sold me the loan back in 2007. Thats why I am hesitating with this. I dont know if there is any history of success with them. I did make a claim some years ago about bank charges and received some money back.

Thanks

di3004

Blade29 wrote: »

Hi there and welcome

I take it that it was Northern Rock that sold you this loan?
If so with your reasons you write to them and give them 8 weeks in full to respond.
You do seem to have good reason, but also check the link below to the guidelines of reclaiming to help you through this, check the checklist of mis selling reasons, there are templates letters, but personally I would write on your own words and use the template letter as a guide, and post by recorded delivery for your proof of posting.


There have been success with these, so if you do get the chance check through the success thread.
Keep on at them as well.

Good luck, ask for help when you need to and please keep us posted.

Cheers.

Di


Hi Di and thanks for your quick response.

No it was the Northen Bank in Northern Ireland sold me the loan back in 2007. Thats why I am hesitating with this. I dont know if there is any history of success with them. I did make a claim some years ago about bank charges and received some money back.

Thanks

Hi there

I would definately give it a go.
Do you still have all the contact/address details?

Go for it.

hopefulshell07

Hi thank you for the replies and I am posting the figures underneath so that some very kind soul could give a rough estimate of how much I might get back:)

Loan 1) Taken out 22/02/02 Refinanced 03/11/03
Loan £5000.00 PPI £1174.84 Total £6174.84 Per month PPI £ 27.34

Loan 2) Taken out 03/11/03 Refinanced 20/10/204
Loan £15000.00 PPI £3318.2 Total £18318.20 Per month PPI £72.71

Loan 3) Taken out 20/10/04 Refinanced 22/08/2008
Loan £16000.00 PPI £4064.27 Total £20.64.27 Per Month PPI £70.32

Loan 4) Taken out 22/08/2008 Current Loan
Loan £19000.00 PPI £5173.64 Total £24173.64 Per Month PPI £106.29

The formula from LTSB is:
For the 2 loans 2002 & 2004 they will:
Calculate the difference between the settlement balance and what the balance would have been without the PPI, then add 8% interest from the day the loan was settled to the date I sign.
Then:
Calculate the amount paid up to the date of cancellation and refund this back ( How much I paid in PPI per month then multiplying this by how many months the loan was active for)
Then:
Add 8% simple interest onto each payment from the date each month was paid to the settlement date.
Then:
Add 8% simple interest per annum onto this total amount, the calculated simple interest will then be refunded into my bank account.
I had partial rebates of:
2002 loan £475.71
2004 Loan £693.47
Of course these will be taken into account.
Then for :
Loan 2003 - After writing to them again they have decided that I was mis sold on this one too so the formula for this one is the same as above except for the PPI Payments as I was out of work came to: £2143.06 so of course this will be taken off of any rebate to come.

And they wonder why I can't work it out lol

As they have mis sold me on all of my loans am I right in thinking that all of the loans should be recalculated to be the amounts without any PPI which includes the settlement figures? Also my interest rates were 14.9% 11.9% twice and 8.9% they say this will be taken into account when working out the figures.
I do thank anyone brave enough to tackle this for me from the bottom of my heart
:kisses: :kisses: :kisses:

di3004

hopefulshell07 wrote: »

Hi thank you for the replies and I am posting the figures underneath so that some very kind soul could give a rough estimate of how much I might get back:)

Loan 1) Taken out 22/02/02 Refinanced 03/11/03
Loan £5000.00 PPI £1174.84 Total £6174.84 Per month PPI £ 27.34

Loan 2) Taken out 03/11/03 Refinanced 20/10/204
Loan £15000.00 PPI £3318.2 Total £18318.20 Per month PPI £72.71

Loan 3) Taken out 20/10/04 Refinanced 22/08/2008
Loan £16000.00 PPI £4064.27 Total £20.64.27 Per Month PPI £70.32

Loan 4) Taken out 22/08/2008 Current Loan
Loan £19000.00 PPI £5173.64 Total £24173.64 Per Month PPI £106.29

The formula from LTSB is:
For the 2 loans 2002 & 2004 they will:
Calculate the difference between the settlement balance and what the balance would have been without the PPI, then add 8% interest from the day the loan was settled to the date I sign.
Then:
Calculate the amount paid up to the date of cancellation and refund this back ( How much I paid in PPI per month then multiplying this by how many months the loan was active for)
Then:
Add 8% simple interest onto each payment from the date each month was paid to the settlement date.
Then:
Add 8% simple interest per annum onto this total amount, the calculated simple interest will then be refunded into my bank account.
I had partial rebates of:
2002 loan £475.71
2004 Loan £693.47
Of course these will be taken into account.
Then for :
Loan 2003 - After writing to them again they have decided that I was mis sold on this one too so the formula for this one is the same as above except for the PPI Payments as I was out of work came to: £2143.06 so of course this will be taken off of any rebate to come.

And they wonder why I can't work it out lol

As they have mis sold me on all of my loans am I right in thinking that all of the loans should be recalculated to be the amounts without any PPI which includes the settlement figures? Also my interest rates were 14.9% 11.9% twice and 8.9% they say this will be taken into account when working out the figures.
I do thank anyone brave enough to tackle this for me from the bottom of my heart
:kisses: :kisses: :kisses:

lol , someone is sure to be along soon to have a looksie at these for you hunni, I am flipping useless at working out calculations myself and it would be wrong if left to me.......:o:eek:.
Fingers crossed someone will be here soon to work them out for you.:AX

ajausten

hi there I have no experience with Northern Bank but did have success with First Trust - reclaimed PPi but did have to go to FOS. I'd definitely say go for it with Northern.


Good luck