PPI Reclaiming Discussion part 4

JintyMiginty

Quote:
Originally Posted by JintyMiginty
No there was no broker involved. I only spoke to first plus. Have looked at the template letter & have a complaints address at first plus to send too so will get it up & running. Only thing is that my new mortgage will be through before the 8 weeks are up & the loan will need to be payed off. I suppose this is unavoidable & will have to be done.

Thanks for the help :T

Good luck and let us know how you get on..;)

Even when it is paid up you can still claim it back... they may respond before then anyway..


Last edited by marshallka : 05-12-2008 at 10:14 AM.



Ok here is an update, Got a replay from Firtsplus to my first stage letter saying as expected that the PPI wasn't missold. I am sorting out the 2nd stage letter to send off, shall I add some more points to the 2nd stage letter to justify my claim as I have now noticed on the demands & needs form that there are a few mistakes like - they had down that my employer would not pay me if I was off work due to accident or sickness where infact they would pay me half my salary for 12 months. Shall I add points like this or just keep it simple. Also I am still paying the £50 monthly payment for the PPI will I cancel this or just keep paying it until it is sorted out.

Thanks for any advice :beer:

maxdp

Toffee_Penny wrote: »

I just wanted to say that OH received a letter today from Halifax credit card, they apologised and have refunded the whole £180 back for late payment fees etc. :j

I sent off the template letters from here asking for the £12 fees back and they said sod off at first but after being on here I got my woman-on-the-edge head on and wrote back again complaining for being charged twice some months.

I know this is the wrong thread for this kind of thing but I wanted to say honestly that if it hadn't have been for you guys chatting on here so openly I would never have even bothered starting to write those letters asking the creditors for money back. I wouldn't have even knew that I could.

OK so £180 is a small amount compared to some of your ppi reclaims but I just wanted to share the good news and say a big 'THANKS' you really do help the little people like me gain the confidence and courage through supportive words to fight the big people.

Keep up the good work people!

Rachel xxx


p.s we still owe Halifax like 7 million on our DMP but thats not the point! :rotfl:

Well Done TP:T:T:T

Really pleased for you.

pinkprincess99

kkchick2009 wrote: »

Hi - How long ago did you first write to them? I sent my letter to them on 9th Jan - they wrote back with the caseworker dealing with your complaint is... on 19th - I called them last night to see how this was coming along - they said they were still waiting for info back from the branch - he said he hopes to write to me before the 8 wk deadline on 9th march - hopefully its good news like yours too

Hi. I just wanted to let everyone know, I have received a letter from RBS this morning advising that they are satisfied that I would have been provided with all the information to make an informed decision, HOWEVER, to reflect my valued custom to the group they are prepared to make an offer as a gesture of goodwill and without any admission of liability.
I don't know the amount involved at the moment as they state due to the dates of the loans they are calculating the amount and it may take a little time.
So thank you to all of you who answered my questions, the fight may not be over yet as they are yet to disclose the amount but I have got further than I thought I would because of the advice I have received on this board x

hayjamdan

hi di thanks for replying to my post yesterday.The loan has been settled already from taking out another loan to pay it off i settled it early and got some rebate back as well but i wanted to no if i would get back the ppi as i was mis sold the policy any advise welcome thanks

jimmyandjudy

I rang the investigator dealing with my claim, basically asking how long its going to take with calculations.
He said because its a capital loan its more complicated, if it was a fixed rate I would hear within a couple of weeks. Why does this take longer? or are they fobbing me off?
Anyway he said he would phone me when all calculations are complete with a quote.

di3004

hayjamdan wrote: »

hi di thanks for replying to my post yesterday.The loan has been settled already from taking out another loan to pay it off i settled it early and got some rebate back as well but i wanted to no if i would get back the ppi as i was mis sold the policy any advise welcome thanks

Hi hun

Yes you should get back ALL the PPI, interest and any charges occurred, they should aim to put you back in the position as if you did not have the PPI, so you get get back over what you have paid in PPI.

For example, mine was settled and I my PPI alone was under £11K, I received back just under £13K.;)

Hope this helps hun and also request for a copy of the settlement calculations, they should post these to you on request.;)

di3004

jimmyandjudy wrote: »

I rang the investigator dealing with my claim, basically asking how long its going to take with calculations.
He said because its a capital loan its more complicated, if it was a fixed rate I would hear within a couple of weeks. Why does this take longer? or are they fobbing me off?
Anyway he said he would phone me when all calculations are complete with a quote.

Hi there, so he told you it could take a couple of week?

I would not believe that, I'm sure 14 days is ample time from request, make sure they don't fob you off on the phone by telling you what is what, as you want to see these for yourself in the post, good luck, hope you receive these soon.;)

di3004

pinkprincess99 wrote: »

Hi. I just wanted to let everyone know, I have received a letter from RBS this morning advising that they are satisfied that I would have been provided with all the information to make an informed decision, HOWEVER, to reflect my valued custom to the group they are prepared to make an offer as a gesture of goodwill and without any admission of liability.
I don't know the amount involved at the moment as they state due to the dates of the loans they are calculating the amount and it may take a little time.
So thank you to all of you who answered my questions, the fight may not be over yet as they are yet to disclose the amount but I have got further than I thought I would because of the advice I have received on this board x

Hi hun

This is good news, did you ask them to provide you with a copy of the calculations? if not request for these as well as I'm sure someone will check them for you here.

But overall its good news on the offer, well done to you and Many Congratulations.:beer: :T

Di
X

di3004

JintyMiginty wrote: »

Quote:
Originally Posted by JintyMiginty
No there was no broker involved. I only spoke to first plus. Have looked at the template letter & have a complaints address at first plus to send too so will get it up & running. Only thing is that my new mortgage will be through before the 8 weeks are up & the loan will need to be payed off. I suppose this is unavoidable & will have to be done.

Thanks for the help :T

Good luck and let us know how you get on..;)

Even when it is paid up you can still claim it back... they may respond before then anyway..


Last edited by marshallka : 05-12-2008 at 10:14 AM.



Ok here is an update, Got a replay from Firtsplus to my first stage letter saying as expected that the PPI wasn't missold. I am sorting out the 2nd stage letter to send off, shall I add some more points to the 2nd stage letter to justify my claim as I have now noticed on the demands & needs form that there are a few mistakes like - they had down that my employer would not pay me if I was off work due to accident or sickness where infact they would pay me half my salary for 12 months. Shall I add points like this or just keep it simple. Also I am still paying the £50 monthly payment for the PPI will I cancel this or just keep paying it until it is sorted out.

Thanks for any advice :beer:

Hi there

Cancelling that is up to you, if your successful they would have to put you back in the postion as if you did not have any PPI from the start anyway, but maybe see what others say here about the cancelling side of things.

Yes write back if you can with stronger points to every reason you have given and more if you can, like you said above.

The first letter was more than likely a standard fob off anyway, so keep is going, let us know when you hear and we shall take it from there, hopefully it will be successful - fingers crossed.;)

Turboman

catinthehat1 wrote: »

Hi - have rec'd letter from FP re rebate, but I need help as I'm not sure if they have done this right??? Our policy with them is still ongoing - this is there reply:

'A full refund of the insurance premium of £5082.15 has been applied to your account along with the interest paid on the premium to date of £2540.20.

Please find enclosed a cheque for £2655.72 in respect of the part of your monthly repayments that were made towards the insurance policy and a further amount of £460.18 in respect of 8% interest on the monthly payments... This amount is being refunded to you in order to put your account in the position it would be if the insurance had not been taken.'

Does anyone know, as our policy is still ongoing, should we accept this or should we argue or do we have a case to argue for the £5082.15 + £2540.20?????
Any help would really be appreciated

Hi

I'm not proficient in legal things-but not bad with figures.

It seems to me that everything is as it should be--I think the wording
A full refund of the insurance premium of £5082.15 has been applied to your account along with the interest paid on the premium to date of £2540.20.

is misleading--I (IMO) think they meant to say

A full refund of the insurance premium of £5082.15 has been applied to your account along with the interest accrued on the premium to date of £2540.20.

So (imo), your account has been put back as if only the original Cash Advance was in operation. Additionally, they have refunded the premiums attributed to PPI + 8% interest.

No-you can't get the £5082.15+£2540.20 as you haven't actually paid that much--YET--they are actually deducting it from what you currently owe.

In order to predict what your new monthly payment should be--multiply the current monthly payment by the ratio of Original Cash Advance:Total of Cash Advance+PPI SPI

ie--this is an example
say-Cash Advance £25,500
say-PPI SPI £5,068
TOTAL LOANS £30,568

Calculate the ratio 25,500:30,568 by dividing 25,500 by 30,568 = 83.42%

So out of your total monthly premium 83.42% went against your Cash Advance Loan and 16.58% went against the PPI SPI loan.

SO--if your current monthly payment were £325 (say)--your new monthly payment should be 83.42% of £325 =£271.11

Ask again if any clarification needed

EDIT--found your old post

Loan 25,500
SPI Loan 5,068
Term 300 mths
Started July 2004

If you give me the start APR% and the Start Payments (both) & Current Monthly Total Payment (and APR% if you have it)--I'll check it in more detail on my Amortization Model just to be sure on that "interest wording"

Turbo