PPI Reclaiming Discussion part 4

di3004

bugsy161 wrote: »

Good morning all,
Hope you are well?
When Lloyds work out my payment will the interest be calculated to when I cancelled the PPI in 2007 or will it be calculated up to now?
Also, the fact that they are having to remove the PPI payments from the credit card and re calculate my monthly payment, minus the PPI, means that the current balance that I have should be reduced considerably. Can they reduce my limit at the same time or would this be considered treating me unfairly as a result of me winning my complaint.

Hi bugsy

I always taken it that they should calculate the interest up to now.
Unless someone can clarify on this.

And in my opinion as well as receiving what is rightfully yours, I do believe it should reduce as well.;)X

amersall

di3004 wrote: »

LMAO........:rotfl::rotfl::rotfl: amersall my brain is not itself either......:eek: oops:o, but don't worry I can assure you - you are doing okay........:D:T.
What on earth am I on about, I do not have a brain, I mean my peanut.....:eek::rotfl::rotfl::rotfl:, sorry folks, please trust us:rotfl::rotfl::rotfl:;)

Thanks di :A
:rotfl::rotfl: Yes people, please trust us :D Only have senior moments once in a blue moon :D:D really:rotfl:

amersall

Hi bugsy, hows tricks?

bugsy161

amersall wrote: »

Hi bugsy, hows tricks?

Still taking my deep breaths................:rotfl:
Letter number 1 sent to Lloyds yesterday but still no response to my 2 emails already sent.

di3004

Bugsy, have you also checked the thread that Maxdp posted, this is how the FOS calculates refunds, if resolved by them.;)

https://forums.moneysavingexpert.com/discussion/1596473

:j:j
Hope this helps.X

D1955

I have received an offer (Good will gesture) from my credit card provider - the offer includes repayment of premiums, associated interest and 8%. This is a grand total of just over £9k - a tidy amount.

I have had the credit card for 15 years and PPI for the whole time - yet the offer is to repay the premiums from the last 6 years only.

The calculations appear correct - but don't understand why they are only looking at the last 6 years. Is this normal practice or are they trying to pull a fast one?

Many thanks for any help.

di3004

D1955 wrote: »

I have received an offer (Good will gesture) from my credit card provider - the offer includes repayment of premiums, associated interest and 8%. This is a grand total of just over £9k - a tidy amount.

I have had the credit card for 15 years and PPI for the whole time - yet the offer is to repay the premiums from the last 6 years only.

The calculations appear correct - but don't understand why they are only looking at the last 6 years. Is this normal practice or are they trying to pull a fast one?

Many thanks for any help.

Hi

And well done to you, :T Congratulations!:beer:

If they only hold the details for the last 6 years, this seems to be the way they actually deal with these reclaims, but if they still hold your info/details from earlier years, you can of course question them on this.

However, if you still hold any details prior to the last 6 years, you could send them "copies" and they then have something to work by.;)

D1955

Hi Di

Many thanks for your very quick response. I don't have any details going back further than the 6 years - except for the original agreement (which has no reference to PPI - not even a box to tick!)

As there is a lot at stake here I think I will give it a go and question their decision - just to see what happens.

regards

amersall

D1955 wrote: »

I have received an offer (Good will gesture) from my credit card provider - the offer includes repayment of premiums, associated interest and 8%. This is a grand total of just over £9k - a tidy amount.

I have had the credit card for 15 years and PPI for the whole time - yet the offer is to repay the premiums from the last 6 years only.

The calculations appear correct - but don't understand why they are only looking at the last 6 years. Is this normal practice or are they trying to pull a fast one?

Many thanks for any help.

I dont understand this either, bugsy on this site is getting paid back 23 years worth, to be honest i dont have a clue how they decide the difference between 6 years and 23.It might be that some claimers have paperwork going back that far? i would give the bank a ring and ask why they only go back 6 years and what is the criteria for going back further. Oh and well done on your win :T

amersall

di3004 wrote: »

Hi

And well done to you, :T Congratulations!:beer:

If they only hold the details for the last 6 years, this seems to be the way they actually deal with these reclaims, but if they still hold your info/details from earlier years, you can of course question them on this.

However, if you still hold any details prior to the last 6 years, you could send them "copies" and they then have something to work by.;)

Thanks di :A, beat me to it again :D:D i must try to type faster :rotfl: