PPI Reclaiming Discussion part 4

amersall

tafstar71 wrote: »

Hi to all, some good news from loans.co.uk. after 1 letter sent 16 jan, I have today received a letter stating that they are upholding my complaint in my favour, i will have the balance of the ppi refunded to the loan by the insurance company, and the premiums i have already paid, plus 8% interest, will be refunded directly to me within a month, i was also given the choice of cheque or bank transfer. I will say, that as far as my experience with loans.co.uk is concerned, they have been excellent, no fob offs, no excuses, just a straight hands up, we were in the wrong, and all in just about 6 weeks. full marks to them for putting right their wrongs

:T:T:T:Tgreat news!!!!:T:T ,just shows there are some good companys out there :T:money:

mlucyminx

wj209980 wrote: »

Oh my god - could this really have happened????

I sent my first letter to Egg around 30 December. 4 weeks later I got the "we are still looking into it" letter. This would be their final week to respond.

This morning I log in to my Egg account, expecting to see my loan balance outstanding of about £1,700 or so. Instead it reads £0. Also, under "insurance options" it reads "none" (previoulsy it listed a number of things such as unemploymet, life etc).

Could they have written it off? I thought I would have received a letter first informing me of their decision and asking me to accept it etc????????

I hope this is true though, and not just a "glitch" on their site (it is still showing the end date for my loan to be December 2009, and still showing my next payment amount which is set to be taken on 1st March??)

This has happened with two of my barclays claims. They tend to credit it back and about two days later get the letter. I think they send letter same day they apply the credit so a bit of a delay between the two. I really hope this is the case for you too.

dreamer33

Hope EGG refund my ppi, received an acknowledgement from them stating 8wks etc, they do not have any telephone calls so how they are going to prove it was not mis-sold is beyond me, I have told them not to use the excuse that I signed so agreed.

I do remember in a call saying did no want it but they have no calls so fingers crossed.

dreamer33

tafstar71 wrote: »

Hi to all, some good news from loans.co.uk. after 1 letter sent 16 jan, I have todaEy received a letter stating that they are upholding my complaint in my favour, i will have the balance of the ppi refunded to the loan by the insurance company, and the premiums i have already paid, plus 8% interest, will be refunded directly to me within a month, i was also given the choice of cheque or bank transfer. I will say, that as far as my experience with loans.co.uk is concerned, they have been excellent, no fob offs, no excuses, just a straight hands up, we were in the wrong, and all in just about 6 weeks. full marks to them for putting right their wrongs

Excellent news and very quick too, well done lets keep those wins coming:T :beer:

King_Juan

di3004 wrote: »

Hi hun
Wow an offer that is great news.:T Well done !:beer:

I am a little bit rusty when it comes to working out figures etc but I am sure they will get looked at - at some point today for you.;)

Thanks, can anyone help with the calcs please?

I'm on the verge of sending a letter to challenge the initial offer!

Thanks.

Turboman

King_Juan wrote: »

Hi everybody, I have been made an offer on a PPI reclaim but please can someone help me determine what I ought to be receiving from the following:

15K loan 8.4% APR taken out in 04/2005
Single premium PPI £3009.54 plus £663.06 interest added at start of loan
11 PPI payments of £61.21 were made
loan was settled early in May 2006
Insurance premium rebate of £2014.58 was received on early settlement

In summary I have been offered:

Monthly premiums refund £673.31
Rebate adjustment £637.21
Interest on total refund £336.97
Total refund £1647.49

I think my refund should be closer to £2300, can anybody help me out?

What were the mthly payment or payments if separated on your agreement, initially & start %?

Also-what are they now?

Post up your settlement letter exactly--clarifying if SETTLEMENT REBATE or INSURANCE REFUND or BOTH?

Not got a lot of time till late Sunday & then next Weds--but someone else may help

dinerodinero

Turboman wrote: »

ask them for the balances & statements of the old loan

Ok I will be asking them for the info by phone, I believe that I will have to pay to them for sending it to me, is that right? and how much does it normally cost?

Thank you very much

Emma

King_Juan

Turboman wrote: »

What were the mthly payment or payments if separated on your agreement, initially & start %?

Also-what are they now?

Post up your settlement letter exactly--clarifying if SETTLEMENT REBATE or INSURANCE REFUND or BOTH?

Not got a lot of time till late Sunday & then next Weds--but someone else may help

Hi Turboman,

Loan 8.4% APR
Amount 15,0000
Interest 3304.80
Mnthly payment 305.08
No of payments 60
Total 18304.80

PPI 8.4% APR
Amount 3009.54
Interest 663.06
Mnthly payment 61.21
No of payments 60
Total 3672.60

Total 18009.54
Interest 3967.86
Mnthly payment 366.29
No of payments 60
Grand total 20977.40

The loan was settled early after 11 payments (months)

PPI insurance rebate was 2014.58

Settlment letter details:

A Total monthly payments to 7th march 673.31
B Rebate adjustment 637.21
C Total refund A+B 1310.52
D Interest on total refund payable to 28th feb 2009 336.97
E Total C+D 1647.49

My main gripe is that I have not been refunded the total premium. They have adjusted the rebate as if it was settled proportionately to the remaining term whereas I feel entitled to a full refund.

Thanks for any help you can provide.

Gary.

nd20

I have had a goodwill offer from rbs for ppi on a card i took out in 1998, they only processed my application for the account if i took out ppi. they have made a goodwill offer of 6 years premiums, some £2200 they say, no mention of interest. they base this on the fact they cant find my account information from when the account was opened. my concern is that i belive the figure should be around £8000 as i have had a balance on the card for at least 8 years and was paying around £70plus per month in premiums. what should i do now? any advice would be appreciated.

hamish222

Does anyone know if any of the companies would phone you after 1st letter is received by them. I sent hubby's letters to HFC bank, Royal Bank Scotland and Bank Scotland and were delivered today. Had a phone call while hubby was out and person would not tell me who was calling and a business matter and would not tell me who he was. Just found it a bit strange as nobody ever phones for him as I deal with everything now and calls are always for me. It is just we don't want to deal on phone as DH not very good on that front and is a total pushover and at the end of the conversation he would probably agree to pay them extra money rather than reclaim what they owe him.