PPI Reclaiming Discussion part 4

di3004

Pixie983 wrote: »

Hi Guys!

Got the decision from the FOS last week and it's GOOD NEWS!!!! :j They have ordered First Plus to pay me back in full what I have paid into the policy (currently still paying) + 8% interest on each payment. They also advised FP should pay me £200 in compensation for distress caused however FP have not agreed to pay the £200 compensation. :mad: I could ask for a final decision but FOS have said it could take several more months so I think I'm going to accept the offer I've got? My policy will also be cancelled so I'll be around £40 a month better off aswell.

To everyone thinking of claiming - DO IT!!!! I never thought I'd get anything back! Massive thanks to everyone on here who encouraged me to keep fighting against First Plus! :j :j

Wonderful news, Well done and Congratulations :beer: :T :beer:

Onwards and upwards :T

Thanks for sharing your success news with us, fantastic !:beer:

funkyc27

Hi i have posted a few times on the success forum but have managed to get myself confused about my PPI claim and was wondering if anyone could help me.
I took out a loan of £33k in september `06 with picture and have paid it ever since.
I am trying to claim back the PPI and the claim is currently with the FSCO, but how do i know what i am claiming back, i did write and ask for the £8233.50 back from Picture but is this right??
Reading now through the documentation from Picture i have found
-the ammount the premium costs with tax £8233.50
-total ammount with interest over the 13 years we have the loan for £14378.52!!!!

how much should i have asked for back??
i hope someone could help me- i cant get my head around what i have started and cant explain to my husband what ammount i am claiming for!!

thanks so much
claire

pinknico

Hello claire, is this a settled loan or still ongoing?
I too am waiting on the FSCS regarding Picture.

funkyc27

pinknico wrote: »

Hello claire, is this a settled loan or still ongoing?
I too am waiting on the FSCS regarding Picture.

its an ongoing loan! is your case with the compensation people??

amersall

Pixie983 wrote: »

Hi Guys!

Got the decision from the FOS last week and it's GOOD NEWS!!!! :j They have ordered First Plus to pay me back in full what I have paid into the policy (currently still paying) + 8% interest on each payment. They also advised FP should pay me £200 in compensation for distress caused however FP have not agreed to pay the £200 compensation. :mad: I could ask for a final decision but FOS have said it could take several more months so I think I'm going to accept the offer I've got? My policy will also be cancelled so I'll be around £40 a month better off aswell.

To everyone thinking of claiming - DO IT!!!! I never thought I'd get anything back! Massive thanks to everyone on here who encouraged me to keep fighting against First Plus! :j :j

:j:j:jthats excellent news,:j:j:j:j:j:money::D:D i love to hear that fp have paid out , i hate that company with a vengeance, i am still waiting to hear about my mis sell with them if you dont mind me asking how long did it take you?

pinknico

Yes it is, been waiing since August.

I cant give you exact figures, you should get back all the money you have paid towards the policy plus interest but not sure at what rate from the FSCS, which as Picture dont do a monthly amount is not straight forward to work out. And the rest of the ppi will be taken off the loan so you dont pay it or the interest on it.

Turboman is the man for figures, he will be here on Wednesday and if you post up loan amount, PPI amount, loan start ,loan finish, interest rate and monthly payments. He may be able to help you with the figure your looking at.

hayjamdan

hi all just a quick question please ran bank over the weekend about my ppi claim and they told me some1 would give me a courtesy call within the next three working days wat does this mean courtesy call.thanks

funkyc27

pinknico wrote: »

Yes it is, been waiing since August.

I cant give you exact figures, you should get back all the money you have paid towards the policy plus interest but not sure at what rate from the FSCS, which as Picture dont do a monthly amount is not straight forward to work out. And the rest of the ppi will be taken off the loan so you dont pay it or the interest on it.

Turboman is the man for figures, he will be here on Wednesday and if you post up loan amount, PPI amount, loan start ,loan finish, interest rate and monthly payments. He may be able to help you with the figure your looking at.

I started mine april last year-(when i wrote to picture) it then went to FOS and they passed it to FSCO in August, i have heard from them and i sent them a polite letter last weeks asking if they were able to give me an update on my case, so hopefully will hear soon.
have you settled your loan with them? we are due to have the 25% rebate in September- i hope its sorted by then as i dont want to be sending cheques back to them!!
when its all sorted will my monthly payments be adjusted to minus the PPI ammount?? :rolleyes:

di3004

hayjamdan wrote: »

hi all just a quick question please ran bank over the weekend about my ppi claim and they told me some1 would give me a courtesy call within the next three working days wat does this mean courtesy call.thanks

Hi hun

I'm not really certain, but it may be an offer, in that case tell them you want everything in writing.;)
Good luck hun I do hope its the news your waiting for.:A X

Dreamer06

Hi everybody! I'm still battling with Welcome finance about reclaiming PPI, I phoned them up this morning for an update because they sent me a final response letter. the lady told me that they had done everything by the book & that I had signed the agreement to take out the PPI,I told her that my argument was that I was told that I would have more of a chance to get the loan if i took out PPI cover by the rep who took the details off me on application, she said they have no record of this as it was too long ago (May 2003). She told me to contact the FOS, but what is the point of doing that if they cant prove that the PPI was misold to me?