PPI Reclaiming Discussion part 4

di3004

Dave_6 wrote: »

Hi again

Following on from my post a page back, going to go into the bank with my mate to discuss restructuring his loan so it no longer has PPI....

They had said that while investigations are ongoing the branch will arrange a new loan without protection and for the outstanding balance on your existing loan to be repaid. New loan will be on the same basis/interest rates/time frame honoured etc.






Now, I’ve read on here that some people have gone in to restructure their loan only to be told the payments are infact the same each month.. or sometimes even more!!!


The current loan agreement is below, he’s now paid off more than half of the loan as the balance is down from £18680 to £7472.
I would have expected the new loan to say he’ll be paying about £250 back per month instead of the current £311....? does that sound right or am I completely missing something
Just wanted a rough idea of what to expect before we go in there really


Massive thanks for any help
Dave


breakdown of loan here

http://i113.photobucket.com/albums/n215/DPS1984/Pic.jpg

Hi there, thanks for posting this up, its very useful.

I am not good at the workings out side of things but hopefully someone will be along to check this through at some point very soon.
I think Robbedofmymoney is away for a few days, not sure what day he comes back, so is there a time limit on this?

I assumed the monthly repayments would be less a month, maybe others will be able to clarify on this matter for you soon, the best of luck.;)

di3004

draceana wrote: »

Hello all
I am trying to reclaim my PPI i paid on a visa account. I have already paid this debt off a few years ago.
I sent the letter requesting all the info as i was not sure how i was sold the insurance. I used the letter on here asking for all the info.
All i have recieved is a covering letter from my bank and 3 years of statements which i already have.
I do not want to have to pay another £10 as i am in debt. However i do think they are stalling and i know i am entitled to the info.
What do you sugest i do next?
Thankyou for any help.
Has anyone else had experience of reclaiming with the yorkshire bank and were you successful?
Thanks again
Pat

Hi Pat

Just making sure on this.

Was it the SAR letter you sent as below?
https://forums.moneysavingexpert.com/discussion/1475553
If so then contact them and tell them you don't believe you have received everything as requested for on the SAR, which should be supplied by the law of the DPA (data protection act).

Sometimes they send documents in batches, but you could ring their dept to make sure on this.

If you not sent the above letter, then you could send this off and make them aware that you always made the requested payment of £10 which they have debited from your account.

You could just contact them anyway just to make sure.


And yes I believe others have been successful with reclaiming from this bank, but there are always some that are not, if in this case you need to keep at them until they give a final decision, if they still don't uphold in your favour by then, you have the right to complain to the financial ombudsman service (FOS).

Its just a matter of completing the FOS questionnaire, these were recently issued by the FOS for this purpose, send to Yorkshire bank as these were responsible for the setting up of the policy, remember to keep a copy in case you need to refer to it at some point.

They have 8 weeks in full to give a decision, they sometimes ask for more time with a given timescale date - this is fine, just as long as you know where you are.
And maybe it would be best to post by recorded delivery, for your proof of posting.

The FOS questionnaire you will find on link below, further down the page as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck.;)

draceana

Thankyou very much di for your prompt reply
Yes i used the sar letter from this website.
I shall write to them today and keep you posted as to how i get on.
Thanks again
:A

di3004

draceana wrote: »

Thankyou very much di for your prompt reply
Yes i used the sar letter from this website.
I shall write to them today and keep you posted as to how i get on.
Thanks again
:A

Your very welcome.:A

Give them a further 14 days to get back to you, and you could always mention that under the DPA you should receive all they hold on you, and if they fail to do this you will consider contacting the Information Commissioners office (ICO).

For more on the ICO here.....
https://www.ico.gov.uk/Global/contact_us.aspx

http://www.ico.gov.uk/what_we_cover/data_protection.aspx

Fingers crossed for you.;)

bugsy161

di3004 wrote: »

Your very welcome.:A

Give them a further 14 days to get back to you, and you could always mention that under the DPA you should receive all they hold on you, and if they fail to do this you will consider contacting the Information Commissioners office (ICO).

For more on the ICO here.....
https://www.ico.gov.uk/Global/contact_us.aspx

http://www.ico.gov.uk/what_we_cover/data_protection.aspx

Fingers crossed for you.;)

Hi Di,

Lloyds are still adamant that they have not done anything wrong with their calculation.
I still cant see how they are supposed to have removed 23 years of PPI and interest, and then re take off my credit payment from each month, it wouldn't leave the balance the same. It would have to reduce it.
All they have done is repay me the PPI payments, plus the interest and used it to pay off my card, without even asking me first!
They sent me a letter today confirming the amount I was getting but no statement showing a breakdown of the figures.
The FOS ruling stated that they had to reconstruct the account and provide me with a statement showing how they had calculated it but Lloyds say they dont have to because their method is approved by the FOS!
I have explained to the FOS that I am not happy and also emailed Natalie Ceeney. The FOS are going to phone me tomorrow to speak to someone who deals with the calculations.
I have also told them I want all of my money back.
Lloyds have used £5,500 of the money to clear my credit card and reduced my limit from £15,000 to £1,000 which has added insult to injury.
The FOS have asked me to hold tight with my letters to Lloyds butI have told them that I am not happy, to say the least.

tiesteelm

:T

tiesteelm wrote: »

I have just got a letter in the post from Halifax. and it reads as follows:

"I have completed my investigation into your complaint and I have arranged for our redress team to carry out the relevant calculation to put you back in the position you would have been in had you not taken the insurance on this account. This is done without admission of liability and in full and settlement of your complaint about PPI on your loan... The calculation will be completed and a letter issued within the next five days"

I am right in assuming that I may be getting something back from them? :rotfl:
They have replied far too quickly, I thought that I would be hanging on for weeks.

RESULT!
I thought I would be waiting, but low and behold when I got in from work I had recieved a letter with a cheque for £1280.77 from Halifax. Thank you MSE and thank you everyone. I think I may just try and credit cards next, I have Barclays, Egg, RBS and an old MBNA one. Is it worth it or am I being greedy?

Yours
A. Happy Follower:T

di3004

bugsy161 wrote: »

Hi Di,

Lloyds are still adamant that they have not done anything wrong with their calculation.
I still cant see how they are supposed to have removed 23 years of PPI and interest, and then re take off my credit payment from each month, it wouldn't leave the balance the same. It would have to reduce it.
All they have done is repay me the PPI payments, plus the interest and used it to pay off my card, without even asking me first!
They sent me a letter today confirming the amount I was getting but no statement showing a breakdown of the figures.
The FOS ruling stated that they had to reconstruct the account and provide me with a statement showing how they had calculated it but Lloyds say they dont have to because their method is approved by the FOS!
I have explained to the FOS that I am not happy and also emailed Natalie Ceeney. The FOS are going to phone me tomorrow to speak to someone who deals with the calculations.
I have also told them I want all of my money back.
Lloyds have used £5,500 of the money to clear my credit card and reduced my limit from £15,000 to £1,000 which has added insult to injury.
The FOS have asked me to hold tight with my letters to Lloyds butI have told them that I am not happy, to say the least.

Hi bugsy

I am feeling so mad for you on this :mad:

they seem to have a law of their own don't they?

Its okay to be told to hold tight but you already have done for all these years!:mad:

di3004

tiesteelm wrote: »

:T


RESULT!
I thought I would be waiting, but low and behold when I got in from work I had recieved a letter with a cheque for £1280.77 from Halifax. Thank you MSE and thank you everyone. I think I may just try and credit cards next, I have Barclays, Egg, RBS and an old MBNA one. Is it worth it or am I being greedy?

Yours
A. Happy Follower:T

Well done and Congratulations!:T:beer::j

evie_g_2

Hi all,
Can anyone help with an address please for Royal Bank of Scotland to send the FOS questionnaire to for mis-sold PPI on a loan. Also a Bank of Scotland Mastercard - is this the same company as RBS and would it be the same address for reclaiming PPI on the card? Trying to help a colleague out but unsure where the FOS forms need to go to. Any advice would be gratefully received!

di3004

evie_g wrote: »

Hi all,
Can anyone help with an address please for Royal Bank of Scotland to send the FOS questionnaire to for mis-sold PPI on a loan. Also a Bank of Scotland Mastercard - is this the same company as RBS and would it be the same address for reclaiming PPI on the card? Trying to help a colleague out but unsure where the FOS forms need to go to. Any advice would be gratefully received!

Hiya Evie

Good luck on the reclaiming, now they have a few don't they?

Check this out here.....

This office/department below only deals with claims for mis-sold PPI schemes

Tel 0161 755 7029

PPI Customer Concerns Team
Royal Bank of Scotland Group
PO BOX 833
5th Floor
1 Hardman Boulevard
Manchester
M3 3AQ

I would think its the above address, for reclaiming ppi on credit card and loans.

You could double check by ringing the above number if you want to, or maybe someone will clarify on this, good luck.;)