PPI Reclaiming Discussion part 4

DREAMER

Hi Everyone, took out a loan in Dec 2007 with A & L for £6850.00 at 7.9% over 48 mth.with ppi at the same rate and term.I was not in employment at start of loan as I was retired on ill health.After reading this forum felt that I too was mis-sold the ppi and telephoned A&L asking for this part of the loan to be cancelled,as I felt it would be of no use to me.That was on 12/02/2009, I received letter dated 16/02/09 saying ,We are currently looking into the issue raised,etc; Further letter dated 20/02/09 arrived stateing, re; ppi policy taken out with A&L loan in December 2007.Having concidered the available infomation, we have not been able to establish whether you were provided with sufficient details to allow you to make an informed
decision when this policy was taken out,etc;we would therefore like to offer you £141.12 as a refund, including interest, of all premiums paid for the ppi element of your loan. Offer consists of £134.40 as refund of payments in respect of ppi January 2008 and February 2009.It includes £6.72 in respect of interest payable to February 2009.Interest at 8% simple per annum.
They have enclosed an acceptance form for me to sign,giving up any right I may have to persue a claim in respect of the ppi policy through the courts.
I would be so grateful if someone would advise should I sign this form and take the refund of ppi payments this is all beyond me.

di3004

DREAMER wrote: »

Hi Everyone, took out a loan in Dec 2007 with A & L for £6850.00 at 7.9% over 48 mth.with ppi at the same rate and term.I was not in employment at start of loan as I was retired on ill health.After reading this forum felt that I too was mis-sold the ppi and telephoned A&L asking for this part of the loan to be cancelled,as I felt it would be of no use to me.That was on 12/02/2009, I received letter dated 16/02/09 saying ,We are currently looking into the issue raised,etc; Further letter dated 20/02/09 arrived stateing, re; ppi policy taken out with A&L loan in December 2007.Having concidered the available infomation, we have not been able to establish whether you were provided with sufficient details to allow you to make an informed
decision when this policy was taken out,etc;we would therefore like to offer you £141.12 as a refund, including interest, of all premiums paid for the ppi element of your loan. Offer consists of £134.40 as refund of payments in respect of ppi January 2008 and February 2009.It includes £6.72 in respect of interest payable to February 2009.Interest at 8% simple per annum.
They have enclosed an acceptance form for me to sign,giving up any right I may have to persue a claim in respect of the ppi policy through the courts.
I would be so grateful if someone would advise should I sign this form and take the refund of ppi payments this is all beyond me.

Hi there

in my opinion it does not seem a lot as an offer.

How long have they given you to sign this?

If that were me I would take this to the financial ombudsman service, it is up to you but it does seem like a low amount.

I would wait for others opinions on this as well hun.;)

DREAMER

Hi di3004,
yes they have given me 28 days from date of letter e.g.20/02/09. I1m no good with things like this.

amersall

di3004 wrote: »

Hi folks

Another nice day.

Been watching the Snooker on BBC2 "Welsh Open" filmed in Newport Wales, my eldest son is there and for tonight as well, seen him a few times on the TV now sat with his mate, in the front row, brown and white stiped top lmao.
He can be anyone to anyone else though lol.....:D

Okay not PPI related, will still be back and forth here if anyone needs any help.;)

hi di how are you , i hate sundays dont you, they are soooo boring if you have nothing to do dont you think, this is the first sunday i have had off since xmas so really i shouldnt be moaning should i? ISNT IT WEIRD SEEING SOMEBODY YOU KNOW ON TV>lol x

di3004

DREAMER wrote: »

Hi di3004,
yes they have given me 28 days from date of letter e.g.20/02/09. I1m no good with things like this.

Hi hun

I am sure someone else will post to give their opinions on this as well, hopefully Turbo will be here at some point too - later, he is cool with working out calculations and will check if this is a fair offer or not.

Generally when they admit to mis selling PPI their aim is to put you back in the position as if you did not have PPI from the start.

For instance if your loan was no longer active (settled) they should repay back everything in PPI plus interest etc, if the loan is still active and you cancelled this, then they should repay back all that you have paid in up until you cancelled plus interest etc.

Hope this helps.
But keep an eye on further posts as well. Good luck hunni.;)

di3004

amersall wrote: »

hi di how are you , i hate sundays dont you, they are soooo boring if you have nothing to do dont you think, this is the first sunday i have had off since xmas so really i shouldnt be moaning should i? ISNT IT WEIRD SEEING SOMEBODY YOU KNOW ON TV>lol x

Hi amersall

I'm fine thank you and you?

Sundays must be the worst day of the week, yet I should not complain really as my youngest has a few hours at the farm (my sister-in-laws farm), so I can have my own time lol.

My eldest goes to the Welsh open every year, but this year I have seen him loads of times lol, he is a footie player but enjoys snooker as well lol.;)

It will do you good to have a rest amersall X

scoodies

Good afternoon guys

I sent my 1st letter off to Northern Rock a couple of weeks back, got a questionaire back from them last Saturday, filled that in and sent it back straight away.....fingers crossed now!!

Anyway, I received my Cap One statement yesterday and guess what?......Yep, I'm paying PPI.....didn't even know and should've checked really. I'm so mad with myself!!!

di3004

scoodies wrote: »

Good afternoon guys

I sent my 1st letter off to Northern Rock a couple of weeks back, got a questionaire back from them last Saturday, filled that in and sent it back straight away.....fingers crossed now!!

Anyway, I received my Cap One statement yesterday and guess what?......Yep, I'm paying PPI.....didn't even know and should've checked really. I'm so mad with myself!!!

Hi there

Good luck with Northern Rock.

Wow so there's another one to pursue then with Cap One, good luck with this one as well.

If you need any info/help just post up.;)

scoodies

Thanks Di3004....will you keep you posted )

di3004

scoodies wrote: »

Thanks Di3004....will you keep you posted )

Good one and you know where we are if you need any help.....:D X