PPI Reclaiming Discussion part 4

steveyanne

Just to let everyone know, Halifax wrote back to me today confirming that they have recieved my letter and sincerley apologise for the fact that I may have been mis sold PPI .
They have kindly agreed to look into the matter and will be contacting me shortly :-)

di3004

steveyanne wrote: »

Just to let everyone know, Halifax wrote back to me today confirming that they have recieved my letter and sincerley apologise for the fact that I may have been mis sold PPI .
They have kindly agreed to look into the matter and will be contacting me shortly :-)

That is fantastic :T:j well done and Congratulations!:beer:

jonniejensen

I took out a £3000 loan with PPI and interest it totalled £5702 with HSBC in 2007. I made 19 Payments before getting into financial difficulty and stopped paying the loan.

We put in a complaint to HSBC about the PPI and have just recieved our offer. I cant find details of the PPI so dont know exactly how much i was paying a month but the total payments was £96 per month.
They do not accept the allegations but are prepared to settle without admission to liability with an offer of £590.41.
It breaks down like this:
Total premiums paid from commencement to 27 May 2009 - £343.37
Plus refund of costs incurred for early settlement - £210.52
Plus interest at 8% - £36.52
Total - £590.41

Does this seem like a reasonable offer? I can see people saying not to except first offers but without knowing exactly what i was paying per moth for the PPI it seems about right. They will deduct this amount from what is still outstanding on the loan.

di3004

jonniejensen wrote: »

I took out a £3000 loan with PPI and interest it totalled £5702 with HSBC in 2007. I made 19 Payments before getting into financial difficulty and stopped paying the loan.

We put in a complaint to HSBC about the PPI and have just recieved our offer. I cant find details of the PPI so dont know exactly how much i was paying a month but the total payments was £96 per month.
They do not accept the allegations but are prepared to settle without admission to liability with an offer of £590.41.
It breaks down like this:
Total premiums paid from commencement to 27 May 2009 - £343.37
Plus refund of costs incurred for early settlement - £210.52
Plus interest at 8% - £36.52
Total - £590.41

Does this seem like a reasonable offer? I can see people saying not to except first offers but without knowing exactly what i was paying per moth for the PPI it seems about right. They will deduct this amount from what is still outstanding on the loan.

Hiya

Well done on your success.:beer:

I would ask them to send you their own detailed written breakdown, so you will know what is what with the ppi, especially if you had no paperwork to go by, they should send the breakdown on request.

Have they given you a certain timescale on when to get back to them?

virtuous

Hi
I wrote a complaint letter to The Funding Corporation Ltd for PPI that was mis-sold in 2004 and received a reply this morning and below is the contents of it:-

"Thank you for your letter dated 4 October, 2010.

You entered into the Credit Agreement on or around 23 February 2004. The basis of your claim is that you were mis-sold Payment Protection Insurance (PPI) on or around the same date. As more than 6 years have passed since the date of the alleged mis-selling of the PPI, your claim is statute barred pursuant to Section 5 of the Limitation Act 1980.

Due to the date that you were sold PPI we also do not believe that your complaint falls under the jurisdiction of the Financial Ombudsman Service.

Signed - Helen Scott - Complaints Officer"

Does anyone have any advise on how to go about this letter. I have read in other forums that some people got paid although their claims were older than mine. Please help and let me know whether its advisable to reply to this or just contact the Financial Ombudsman Services instead.

I need your help and advise from people who might have dealt with The Funding Corporation Ltd and whether you managed to get your money back.

di3004

virtuous wrote: »

Hi
I wrote a complaint letter to The Funding Corporation Ltd for PPI that was mis-sold in 2004 and received a reply this morning and below is the contents of it:-

"Thank you for your letter dated 4 October, 2010.

You entered into the Credit Agreement on or around 23 February 2004. The basis of your claim is that you were mis-sold Payment Protection Insurance (PPI) on or around the same date. As more than 6 years have passed since the date of the alleged mis-selling of the PPI, your claim is statute barred pursuant to Section 5 of the Limitation Act 1980.

Due to the date that you were sold PPI we also do not believe that your complaint falls under the jurisdiction of the Financial Ombudsman Service.

Signed - Helen Scott - Complaints Officer"

Does anyone have any advise on how to go about this letter. I have read in other forums that some people got paid although their claims were older than mine. Please help and let me know whether its advisable to reply to this or just contact the Financial Ombudsman Services instead.

I need your help and advise from people who might have dealt with The Funding Corporation Ltd and whether you managed to get your money back.

Hi there

I would still contact the FOS anyway.

Normally with banks they were automatically governed and regulated prior to 2005 by FSA/GISC but not all other companies were, but I would still contact the FOS and ask on your next best direction to take from here.

With the underwriter/insurer of the company would have been regulated, the FOS normally suggest taking this direction instead.

Give them a call on this explain your predicament here and please let us know what they say, thanks and good luck.;)
http://www.financial-ombudsman.org.uk/contact/index.html

Degs45

Hi All just an update on my PPI refund request to Lloyds TSB , well had a letter today upholding my complaint and confirming it was missold ...all I have to do is sign the letter and it will be paid into my account...
plus 8% soo weres the pen ......

di3004

Degs45 wrote: »

Hi All just an update on my PPI refund request to Lloyds TSB , well had a letter today upholding my complaint and confirming it was missold ...all I have to do is sign the letter and it will be paid into my account...
plus 8% soo weres the pen ......

That's great Degs45. Well done and Congratulations!:T:beer::j

Seems Lloyds have mellowed with their complaints since the FSA been involved and they are upholding more than before, great news!;)

Degs45

di3004 wrote: »

That's great Degs45. Well done and Congratulations!:T:beer::j

Seems Lloyds have mellowed with their complaints since the FSA been involved and they are upholding more than before, great news!;)

Thank you Di , it seems to have gone so fast !!! now just got to check the bank next week to see its there ...:j:beer:

di3004

Degs45 wrote: »

Thank you Di , it seems to have gone so fast !!! now just got to check the bank next week to see its there ...:j:beer:

Cool.....:T.

did they actually confirm when they will be sending your refund?

:beer::beer: