PPI Reclaiming Discussion part 4

livelyred

Please can someone tell me if i can still try and get my bank charges back, i done all the letters and sent my statements off its now been nearly 2 and a half yrs i know it went to court and thats all i know, any help would be great Thankyou

amersall

DoingItAlone wrote: »

The figure they are refunding, on a £7500 loan and £1853.43 PPI is a whopping £3102.41!!! Almost half the loan ammount Amazing

And on a seperate note.. they have also refunded me £440 outstanding charges that they said I owed because of late payments. An incredible day! I am now 100% debt free with the bank. It's taken me years of hard work to get to this stage and to get a load of money refunded is the total icing on the cake.

THANKS!!!!!!!!!!!!!!!!

And

THANKS AGAIN!!!!!!!!!!!!!!!!!!!!!!!!!

Well done :beer::beer: nice one:money:

amersall

livelyred wrote: »

Please can someone tell me if i can still try and get my bank charges back, i done all the letters and sent my statements off its now been nearly 2 and a half yrs i know it went to court and thats all i know, any help would be great Thankyou

Hi there, you will get all the help you need on the link below
https://forums.moneysavingexpert.com/discussion/2248345

amersall

busterj wrote: »

I am now sounds abit fishy !!! Have got paper work at home too so the ppi reduction should be on there me thinks ???

Hi , they are talking about the rebate of the first ppi, when you took the second loan out you would have received a settlement figure for the first one, this included the rebate of ppi.Dont cancel the ins wait to see if you win mis sell.
This bank are trying to pull a fast one here, if i am correct, you want to cancel ppi on the second loan? but to do this you have to repay them the first ppi you had the rebate for £750 for, so they can take the second ppi off? i dont think so, and if this is what they have told you, then i would ring fos and explain this to them, i am sure they will agree with me.You have a claim in for mis sell on the second loan and they are trying to pull a fast one like this??

the_poker_player

Hi Amersall, Sorry about the mistaken Gender, God I feel embarassed. The company are charging me 25% + VAT. I have already had the ppi lump sum back minus about £450. Had to fight for it though, First Plus claimed that because we had a payment holiday that we broke the agreement, it was only when i mentioned that I thought the policy had been miss sold due to my illness that they paid up within 2 days. Funny that!!! I would like to know how the interest is worked out though just incase they are trying to pull the wool over my eyes.

amersall

the_poker_player wrote: »

Hi Amersall, Sorry about the mistaken Gender, God I feel embarassed. The company are charging me 25% + VAT. I have already had the ppi lump sum back minus about £450. Had to fight for it though, First Plus claimed that because we had a payment holiday that we broke the agreement, it was only when i mentioned that I thought the policy had been miss sold due to my illness that they paid up within 2 days. Funny that!!! I would like to know how the interest is worked out though just incase they are trying to pull the wool over my eyes.

:rotfl::rotfl:Easy mistake to make :D
what i dont understand is what the company are charging you 25% for, did you claim your 5 year payout back yourself? it is easy to work out what what you will get back, times the monthly ppi payment by the months you made, the ppi interest is 20% of your monthly ppi payment, then times this by the same months you paid it.That is the amount you will get back.

the_poker_player

Hi yes i requested the ppi payment back myself last year because we had had it for 5 years and you could claim it back if you had not used it. They are charging me 25% + vat to get the interest back and hopefully get the loan restructured to back to as if we had never had the ppi in the first place.
The original loan was for 75000, the ppi was 14950, front loaded. This is where i am getting confused, we have made payments of around £800 per month for the past 6 years (£57,000) but settlement figure is £86,000 and we still have another 19 years to pay........... I can't believe we were so stupid in the first place.

the_poker_player

The ppi was front loaded so I am unsure of the monthly ppi payments, AM I JUST BEING THICK???

di3004

the_poker_player wrote: »

The ppi was front loaded so I am unsure of the monthly ppi payments, AM I JUST BEING THICK???

No your not being thick.;)

Being sold these policies are frowned upon and many did not know what they were paying for exactly.

di3004

the_poker_player wrote: »

Hi Amersall, Sorry about the mistaken Gender, God I feel embarassed. The company are charging me 25% + VAT. I have already had the ppi lump sum back minus about £450. Had to fight for it though, First Plus claimed that because we had a payment holiday that we broke the agreement, it was only when i mentioned that I thought the policy had been miss sold due to my illness that they paid up within 2 days. Funny that!!! I would like to know how the interest is worked out though just incase they are trying to pull the wool over my eyes.

Tee hee hee, sorry amersall, I cannot help but laugh :rotfl::rotfl::rotfl::rotfl: how are you Mr Amersall? :rotfl::rotfl::rotfl:, don't worry the poker player our lovely Mrs amersall doesn't really mind , I have been called but and Mr myself in so many words :eek::o:rotfl::rotfl:.

Good luck with your case anyway.;)