PPI Reclaiming Discussion part 4

di3004

Hi Gareth, still great news that the adjudicator agreed in your favour, what normally happens now is that your case should be moved on to the ombudsman himself who normally agrees with the adjudicators decision, this may take a little time but not as long as the waiting you have already been through, so a timescale can be difficult to predict, hopefully you won't be waiting too long though.

However, as its gone to this stage you should also be awarded further redress for the distress and inconvenience this have caused, so this is extra compo on top of what they already owe you.;)

Gareth_Darke

Thanks Di

So How much can I expect then all in all?

Loan of: £25000
Single PPI: £7359.41
24 Payments so far paid on time
60 Remain

I have asked for a personal cheque / direct deposit for the refund, just triying to calculate how much I can expect....

G

Paulmc77

amersall wrote: »

Hi there and well done on your win :T:T A&L wont be too long they are very good, my friend got hers 3 weeks after confirmation letter.

Just off the phone with them, they are quoting an additional 10-14 days on top of the original two weeks. Phoned the complaints department and unloaded on them. That just made me more angry. It's just annoying when you're expecting the money at a certain time and you budget for it. Will keep on at them.

Costello123

Thanks for this, when I did cancel it over the telephone a few months ago they still tried with the hard sell attitude on the telephone even though I was explaining that I couldn't afford to keep paying it......I shall begin the fight, thanks again.......

amersall

Paulmc77 wrote: »

Just off the phone with them, they are quoting an additional 10-14 days on top of the original two weeks. Phoned the complaints department and unloaded on them. That just made me more angry. It's just annoying when you're expecting the money at a certain time and you budget for it. Will keep on at them.

Hi there, they will say a limit as they hope to get it done by then, you may find you receive it before, fingers crossed and keep us posted.

amersall

Gareth_Darke wrote: »

Thanks Di

So How much can I expect then all in all?

Loan of: £25000
Single PPI: £7359.41
24 Payments so far paid on time
60 Remain

I have asked for a personal cheque / direct deposit for the refund, just triying to calculate how much I can expect....

G

Hi there, what ever ppi monthly payments you made you get this back x 24 with interest, plus 8%, the whole ppi amount is then taken off your loan and your payment each month will reduce by the monthly ppi amount, they then reschedule the loan as if ppi was not on,just make sure you get the same apr you had at the start of the loan and that is finished when the original one should have.You dont get ppi back that you have not yet paid. Hope this helps

kar999

When I remortgaged for £96k back in 2002 with Egg I was sold their Mortgage Payment Protection Policy and Buildings and Contents Insurance cover. The policies were sold to me over the phone. I have long since switched the buildings and contents cover but never cancelled the PPI policy.

I was made aware in Nov last year that I was to be made redundant in April 2010. During that time I enquired by phone with Egg on numerous occasions for claims procedures, policy details and claim forms but was given the run-around and told to refer to my policy document as each policy was different. The most specific information I was given was that I had to claim Job Seekers Allowance for 30 consecutive days and then ring back and request a claim form which would be assessed.

I was made redundant on Friday 23rd April 2010 and signed on the next Monday 26th. On 4th May I finally managed to establish from Egg who the Insurer was and requested a claim form which I duly filled in and returned. I found a 3-6 month temporary contract and started on 24th of May but, due to weekends, I had claimed only 28 days (not 30) JSA. I didn’t expect to receive anything from Egg on this occasion but they have told me that when my temporary contract ends the clock will reset and I will have to go for ANOTHER 30 consecutive days of JSA claim before the policy qualifies. I pointed out that I could be out of work longer than in, and still receive nothing from the policy but this didn’t wash even though I pointed out that I was trying to mitigate both their and my financial losses by taking temporary work.

My current mortgage is only c. £17k with repayments of £181 per month plus PPI of £10.40 p.m. The PPI had been £36.68 p.m. back in 2002 before I paid a lump sum off 4-5 years ago.

I’m thinking of going for a miss-selling claim as the policy criteria was never clearly explained to me either initially or during my recent redundancy consultation/notice period or recent attempts to speak to Egg for pre-claim clarification.

Any thoughts anyone on potential sucess?
Thanks in anticipation.

amersall

kar999 wrote: »

When I remortgaged for £96k back in 2002 with Egg I was sold their Mortgage Payment Protection Policy and Buildings and Contents Insurance cover. The policies were sold to me over the phone. I have long since switched the buildings and contents cover but never cancelled the PPI policy.

I was made aware in Nov last year that I was to be made redundant in April 2010. During that time I enquired by phone with Egg on numerous occasions for claims procedures, policy details and claim forms but was given the run-around and told to refer to my policy document as each policy was different. The most specific information I was given was that I had to claim Job Seekers Allowance for 30 consecutive days and then ring back and request a claim form which would be assessed.

I was made redundant on Friday 23rd April 2010 and signed on the next Monday 26th. On 4th May I finally managed to establish from Egg who the Insurer was and requested a claim form which I duly filled in and returned. I found a 3-6 month temporary contract and started on 24th of May but due to weekends I had claimed only 28 days (not 30) JSA. I didn’t expect to receive anything from Egg on this occasion but they have told me that when my temporary contract ends the clock will reset and I will have to go for ANOTHER 30 consecutive days of JSA claim before the policy qualifies. I pointed out that I could be out of work longer than in, and still receive nothing from the policy but this didn’t wash even though I pointed out that I was trying to mitigate both their and my financial losses by taking temporary work.

My current mortgage is only c. £17k with repayments of £181 per month plus PPI of £10.40 p.m. The PPI had been £36.68 p.m. back in 2002 before I paid a lump sum off 4-5 years ago.

I’m thinking of going for a miss-selling claim as the policy criteria was never clearly explained to me either initially or during my recent redundancy consultation/notice period or recent attempts to speak to Egg for clarification.

Any thoughts anyone on potential sucess?
Thanks in anticipation.

Hi there, sorry to hear about your job situation.If i were you i would go for mis sell look at the reasons for this on this site, write a letter to egg with account details giving your reasons for mis sell and tell them you want a refund of ppi to date with interest.When you get a reply post back on here and let us know how you get on. ( ps the unemployment pay out is right, you dont get it for 30 days but then you get paid the first month back and each one after for 12 months or until you get a job, unfortunately your new job did not qualify you to claim again for another 30 days)

di3004

Gareth_Darke wrote: »

Thanks Di

So How much can I expect then all in all?

Loan of: £25000
Single PPI: £7359.41
24 Payments so far paid on time
60 Remain

I have asked for a personal cheque / direct deposit for the refund, just triying to calculate how much I can expect....

G

Hi Gareth and your very welcome.

Basically as what amersall says, and the 8% interest adds up as well, and on top of that amount you will receive further redress for distress and inconvenience.

Take a look on how the FOS also calculated PPI on Maxdp's thread here to also give you some idea.;)
https://forums.moneysavingexpert.com/discussion/1596473

di3004

Costello123 wrote: »

Thanks for this, when I did cancel it over the telephone a few months ago they still tried with the hard sell attitude on the telephone even though I was explaining that I couldn't afford to keep paying it......I shall begin the fight, thanks again.......

I would also request for a copy of the phone recordings, they may provide these on request, or in means of an Subject Access Request (SAR).
https://forums.moneysavingexpert.com/discussion/1475553

It may help to support your complaint, good luck.;)