PPI Reclaiming Discussion part 4

emptypocketskt

thanks for your reply.I am going to send off the complaint form to the FOS,i just wondered if they will be able to get the bank moving or will it be the same answer to them?that the case is on hold until 2011?? its so frustrating they really make it as difficult as possible

is anyone else in a similar position??

alfie26

I recieved calculations from lloyd on credit card ppi today:j:j

My problem starts is the way lloyds have calculated the settlement figures.It was a platnum credit card it was opened in aug-02 and closed in sept 07,the reason it was closed was lloyds introduced a new cc" lloyds airmiles duo" the balance was transfered to this new card.The old card account was closed.The new credit card has new account numbers and is still open.

When lloyds worked out the calculations they have used the start date aug 02 up to 25/11/2010.(last Thursday)

I think they should have done two different calculations one for the old card which would be "where the card account has been cleared and closed and the ppi has been cancelled"

And for the new card which is still open "where the card account is still open but the ppi has been cancelled"

By doing it the way they have they have not paid the difference between the revised closing balance and the original closing balance and the 8% interest on the old credit card.

any thoughts

thanks in advance

di3004

alfie26 wrote: »

I recieved calculations from lloyd on credit card ppi today:j:j

My problem starts is the way lloyds have calculated the settlement figures.It was a platnum credit card it was opened in aug-02 and closed in sept 07,the reason it was closed was lloyds introduced a new cc" lloyds airmiles duo" the balance was transfered to this new card.The old card account was closed.The new credit card has new account numbers and is still open.

When lloyds worked out the calculations they have used the start date aug 02 up to 25/11/2010.(last Thursday)

I think they should have done two different calculations one for the old card which would be "where the card account has been cleared and closed and the ppi has been cancelled"

And for the new card which is still open "where the card account is still open but the ppi has been cancelled"

By doing it the way they have they have not paid the difference between the revised closing balance and the original closing balance and the 8% interest on the old credit card.

any thoughts

thanks in advance

Hi alfie

I think Robbedofmymoney will be the one to check this one out for you, hopefully he will be along at some point to have a look for you, good luck. x;)

tiesteelm

Hi Again. I had a great result with Halifax a few months ago and I am in the process of applying for my Credit card PPI's back..... In the mean time I am paying into Payplan to reduce my debts and I got a phone call from them last week saying that I've over paid one creditor by £300 and a second one by £200. I know this is nothing to do with PPI charges but it goes to show you should check your balances when ever you can.

Good luck people who are applying for PPI..

di3004

tiesteelm wrote: »

Hi Again. I had a great result with Halifax a few months ago and I am in the process of applying for my Credit card PPI's back..... In the mean time I am paying into Payplan to reduce my debts and I got a phone call from them last week saying that I've over paid one creditor by £300 and a second one by £200. I know this is nothing to do with PPI charges but it goes to show you should check your balances when ever you can.

Good luck people who are applying for PPI..

Brilliant, well done to you and Congratulations!:beer:

alfie26

Thanks for your reply di
When fos were looking into this case the adjucator said both cards should be treated seperately.i may be wrong but i think the way the calculations have been done,saves lloyds more £££££££.....but i could be wrong lol

di3004

alfie26 wrote: »

Thanks for your reply di
When fos were looking into this case the adjucator said both cards should be treated seperately.i may be wrong but i think the way the calculations have been done,saves lloyds more £££££££.....but i could be wrong lol

Hiya, and your welcome

What I would like to say is, if this was resolved and dealt with by the FOS, do you know you can request they look into the calcs for you?, for instance in March of this year, my hubby received his payout from Lloyds on one of his credit cards ppi, it was dealt with by the FOS, it was worked out that we assumed something was amiss, may have been the interest.

Anyway we asked the adjudicator if they would be willing to look into this and they agreed, they passed the paperwork my hubby received from lloyds (breakdown), and even though it taken a few months, the other week my hubby received a further payout, it was the remaining of the payout from March, a few hundred as well extra.;)

So even if you do get a payout you can still contact the FOS about this, good luck x

73danny

I took out a 5 year loan with Abbey National, just over 2 years ago.. Recently I keep getting hassled by a company who wants to claim my PPI back.... Initially I couldn’t see where I had been missold the policy as I do remember agreeing to and indeed wanting it... As this "No Win", "No Fee" company keeps on hassling me to return the claims pack I no longer believe they are operating in my interest, but only their own, as their Fee is 39%... and the consultant is very pushy... even more so then the Banks ever where... So If I do go for compensation, it will be off my own back… Anyhow, that said... I have read & reread my PPI policy and hey.... WHAT HAVE I DONE... PPI offers protection if I am sick from work, well I get 6 months full sick pay, then statutory.. PPI offers protection if I loose my job... well I get full redundancy and severance package from my employer... PPI offers protection if I die... well my employer protects me with a 40k death in service benefit and also I have a 100k life assurance with, now let me think......... oh, that would be Abbey National... !!.. Now when I applied for the Loan I do remember Abbey asking me some questions, but cannot remember exactly what... That said the loan was for 10k, and I was not prepared to take on such a commitment without protection... now the thing is, I'm sure Abbey said that they don’t offer advice... but did say I was eligible to take out the PPI policy... but in my opinion they should not be able to sell such a policy without highlighting the dam right obvious... like in my case... I am suitably protected without PPI... and as a consequence I now pay £51 a month for something I don't actually need..., to date that is almost £1300 in premiums.. I think the key message from my experience is, that in many cases when someone is forced to borrow a large sum of money, this is normally because they are financially compromised... and as in my case, the prospect of lending such a large sum of money when no light appears to be at the end of the tunnel puts you in a very vulnerable position... hence why I jumped at the chance to protect my repayments... as I could not contemplate worsening my situation if I was to loose my job.. What Abbey should have done, was at least to examine my current protection to ascertain the need... in my opinion whether the courts see this as a missale or not, I strongly think the policy has been sold dishonesty as the success of the PPI sale, especially in my case has been purely through lack of credible advice at time of purchase, and Abbey has abused my inability to understand my own circumstances… Also I think it is right to mention that if I had declined the PPI, I would not have been given a second chance to take the policy, but I guess that is because the PPI is bolted into the overall loan calculation, something else I really didn’t understand… but the one off offer, forces your hand as well.. (Though I cannot recall whether that was said at time of application, certainly says that on the policy…)… No one told me I could seek an alternative policy elsewhere, which not also could be cheaper, but could have a broader level of cover, which could cover all my financial commitments, not just the one Abbey Loan.. Next Steps - I’m thinking of sending Abbey a SUBJECT ACCESS REQUEST, so that I can hopefully get a recording of my application (application was over the phone) and subsequent in house paperwork completed during the application process… If I feel that my interest where no observed during the application, then I will make a 1st step complaint.. Question is; do you think this is the right action to take, do you think I have a case??? Many Thanks for any replies..

di3004

Hi and welcome

If you have a reclaim then personally I would not use a claims company, have a go yourself with free help from this site, many on here have had no end of hassle using claims companies.

If you do have a reclaim, then just as long as you do have your account number you can continue to make a reclaim, an SAR is optional but useful if you have no documents and maybe for evidence.
It would be a good thing to have the recordings as well.

For more on reclaiming which takes you to the reclaiming check this out here and ask for any help if required on this, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

hamop

Hi All,

Firstly, it's taken a while to find my original postings (I had made a note of the messages numbers : which were 14377,14381 & 14400 on a piece of paper here, but those numbers now seem to refer to someone else's posts....oh well).

Anyway, I sent a letter by special delivery (cost me £5.10!) giving Barclays a further deadline to 23rd November. I told them that my complaint was sent ahead of their supposed judicial review date of 8th October (my first letter to them was on 1st September).

No response from Barclays ! so now I am writing to the Financial Ombudsman and putting it in their hands.

I''ll keep you all informed of progress:)

hamop wrote: »

Apologies if this is getting a bit out of sync, but it's a reply to thank 'amersall' for answering my post number 14377 and 14381 of yesterday...

I've just come off the phone to Barclays and they say they are not able to make an offer in respect of the PPI at this point in time as they are ALL subject to 'judicial revue'.

Could someone on here (amersall or di3004 are hot on this sort of detail) advise me if this is correct, or is it just a fob-off?

Just to reiterate, I have a letter from Barclays dated 29th September saying they will contact me again by 29th October,but that date came and went and still nothing....hense the phone call to them today.

Question is: Should I write to them again, giving them a set period (a couple of weeks in which to make me an offer), after which I will go straight to the Ombudsman. Or what ?

Any thoughts on this please?

thanks :-)