PPI Reclaiming Discussion part 4

080m40

hi, i just wondered if anyone can help. i had a loan with mercantile credit from 1995-1999, but cannot find the account number, i know i paid ppi on this, and have claimed successfully from other banks, i have managed to track down their address to london(part of barclays), but wondered how do i get the account number from them, many thanks

robbedofmymoney

080m40 wrote: »

hi, i just wondered if anyone can help. i had a loan with mercantile credit from 1995-1999, but cannot find the account number, i know i paid ppi on this, and have claimed successfully from other banks, i have managed to track down their address to london(part of barclays), but wondered how do i get the account number from them, many thanks

not an easy one this

if you are still using the same bank a SAR may supply you with information going back to 1995, mine did with Lloyds,
this would give you an account number from the direct debit.
then just write to barclays in the normal way stating your case.
hope this helps:beer:

218bhp

Quick question for the experts:

Recently I wrote to Northern Rock asking if there was any news on my claim. They wrote back today offering a refund using the following phrases (exact figures altered):

"I agree to refund PPI Premiums and interest of £700 as well as 8% interest on the premiums totaling £120.... please sign the attached form"

The form says:

"Refund of PPI Premiums plus interest of £700, 8% interest payment of £100"

The original agreement shows the PPI portion being £1100.

So will they refund me £800 (£700+£100) or £1900 (£700+£100+£1000)?

hopefulshell07

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:

hi I was just wondering if someone could look at these figures for me as I have no idea of how much to expect back.
Thank you

amersall

hopefulshell07 wrote: »

hi I was just wondering if someone could look at these figures for me as I have no idea of how much to expect back.
Thank you

hi there, just hang on. i am sure marshalka will be of great help to you when she comes on. dont think she has been on for a while. there may even be others who may help you xx

doc_white

Hello this my first time
My problem is with the HSBC in 2003 we took out a £10.000 equity release loan and were advised to take out mortgage protection plan with critical illness £10.000 over a 18 year term at a premium of £16.79. As this was advised by HSBC we did so. This plan over the 18 year term worked out at £3626. In 2009 we received a letter about our policies being reviewed so we decided to see the HSBC financial advisor and ask what this meant. We also have two other policies running he told us that the 2003 policy was not relevant and we were more then adequately covered by the other policies.we asked why we were advised to take this policy in the first place as it was him who advised us in 2003. He then told us that we could cancel the critical illness part of the policy and still maintain the life cover part of it. We tried this but were told we would have to cancel the whole policy which we did having paid 72 payments. We have complained to the HSBC and received a reply saying that they were satisfied with their investigation and had no case to answer. I would like to know if anybody else has had any similar thing happen to them.

marshallka

amersall wrote: »

hi there, just hang on. i am sure marshalka will be of great help to you when she comes on. dont think she has been on for a while. there may even be others who may help you xx

Thanks amersall. Will try and have a look tomorrow.

Ashford100

Hi I don't think this has been covered in full but i'm trying to reclaim my ppi for:

• your salesperson stated / implied that taking out the policy would assist my credit application.
• your salesperson was very pushy in selling me the policy so that I felt I could not say no.
• your salesperson stated / implied that taking out the policy was essential for me to get the associated
• I am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

What i am unsure about is when i cancelled my initial loan with ppi they said i had to refinance. I told them i might aswell get a smaller loan in this case while i was ate it as i had some cash to pay the difference. I had a lump sum of around £1000 . Bank of Scotland said I had to pay that off the first loan which included the ppi before any calculations were done and then look at the settlement amount. so i'm not too sure if i was told the correct information.

Was this correct? or is it the normal thing that is done? and what should i put in my first letter to cover this?
thanks

di3004

doc_white wrote: »

Hello this my first time
My problem is with the HSBC in 2003 we took out a £10.000 equity release loan and were advised to take out mortgage protection plan with critical illness £10.000 over a 18 year term at a premium of £16.79. As this was advised by HSBC we did so. This plan over the 18 year term worked out at £3626. In 2009 we received a letter about our policies being reviewed so we decided to see the HSBC financial advisor and ask what this meant. We also have two other policies running he told us that the 2003 policy was not relevant and we were more then adequately covered by the other policies.we asked why we were advised to take this policy in the first place as it was him who advised us in 2003. He then told us that we could cancel the critical illness part of the policy and still maintain the life cover part of it. We tried this but were told we would have to cancel the whole policy which we did having paid 72 payments. We have complained to the HSBC and received a reply saying that they were satisfied with their investigation and had no case to answer. I would like to know if anybody else has had any similar thing happen to them.

Hi and welcome.

It may be a good idea to post this on a separate thread within these ppi threads, this one I think Dunstonh will be able to help and advise you with, good luck.

di3004

Ashford100 wrote: »

Hi I don't think this has been covered in full but i'm trying to reclaim my ppi for:

• your salesperson stated / implied that taking out the policy would assist my credit application.
• your salesperson was very pushy in selling me the policy so that I felt I could not say no.
• your salesperson stated / implied that taking out the policy was essential for me to get the associated
• I am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

What i am unsure about is when i cancelled my initial loan with ppi they said i had to refinance. I told them i might aswell get a smaller loan in this case while i was ate it as i had some cash to pay the difference. I had a lump sum of around £1000 . Bank of Scotland said I had to pay that off the first loan which included the ppi before any calculations were done and then look at the settlement amount. so i'm not too sure if i was told the correct information.

Was this correct? or is it the normal thing that is done? and what should i put in my first letter to cover this?
thanks

Hello and welcome.

All banks differ in how they deal with cancellations.
So if you still have the policy - terms & conds check them out, or ask them to send you these through the post.

Whatever reason(s) you have for being mis sold (what applies to you also in the checklist) then write them in, personally though, I would try to write in your own words if you can, try to give full information on the reason(s) that apply to you, an explanation then.
If this was sold in the branch then mention this as well, or by telephone, and so on.
And as usual they have 8 weeks in full to respond.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

There are many on here who have reclaimed via BOS, so hopefully they will also post up of their experience, but also check through the threads as well if you have not done so yet.

Good luck with this.;)