PPI Reclaiming Discussion part 4

di3004

willkane wrote: »

Thanks to the MSE and its users for such an informative site. Just recieved a confirmation letter from Halifax offering £2166 for a £10,000 loan that was repaid 2 years early.

Refund on premiums £1565
Refund of Interest @10% £367
Interest @8% £234
Total £2166ish

But the thing is i went over my overdraft a couple of times to pay the repayment which meant i was charged for going over. I dont think this cost is included in the offer. Any thoughts?

Cheers

William

Hi William and well done on your success.:beer:

I am not sure about the overdraft issue though, so hopefully someone will be here soon with some advice on this.
But in my opinion this would be nothing to do with the overdraft, good luck.;)

k77mss

hi guys well done on all the success in past few days quick question needing ceo for egg is it the same as lloyds? thanxs

beverleykim

Re: Tescos Finance

Eight weeks since my complaint, three 'need more time' letters from Tescos, they come back to say they cannot trace my account!!! Even though I gave them the account number!! Complaint closed.

I don't think so, I have written back today enclosing some credit card statements and even their Welcome Letter dated 1999. More delaying tactics I feel.

My advice to all, photocopy and enclose as much info as you can with your initial complaint letter, so that they cannot delay the return of your money longer than necessary.

di3004

ijustloveabargain wrote: »

please can so one gave me some advice,
can i claim for ppi on a business loan??the letter martain as done for us only asks for personal details no business details

is there any where on here with more infor for this sort of ppi claim

thanks

Hi there

And yes you are, there is a reclaim questionnaire to make a reclaim on the ppi, you use the same questionnaire as you do for loan ppi, just add your own details (Business loan PPI), this replaced the reclaim template letter.
Although the template letter on the first stages of Martin's guidelines is that of requesting for a copy of the credit agreement, this is not essential as such if you already have or know the details, of the account.

The reclaim questionnaire is here on step 3, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

amersall

ImmortalQueen wrote: »

The bank wrote they were going to settle the complaint in the following manner:
oCalculate a full refund of the PPI premiums that have been paid
oAdd interest charged on the premiums during the term of the loan
oRemove any outstanding payments and interest remaining on the PPI loan.
oTo give you the choice of reducing your monthly repayments (assuming you wish to accept the offer

Via the phone my friend agreed to keep the current monthly payment so that they’d be overpaying the loan to bring down the term, instead of reducing the monthly payments as offered above.


We understood that the money given to my friend was not to pay back the PPI but for the mistake of the mis-sold policy.


I totally agree although my friend was given the £5k, at no point in any of the letters were they told to take the £5k and pay it towards the loan. Or the bank to use the money to pay the PPI, taking the loan back down to £20k +interest = £24K.


The loan was taken out in Nov 2007 for 5yrs and the term runs out Nov 2012.
The amount borrowed was £20 + £5k PPI + interest = £31K.

My friend didn't receive a breakdown, they believed the PPI had been removed as stated in the letter and that the overpayments were helping to bring down the term as confirmed via phone.


This isn’t happening - looking at all of my friend’s loan statements from the beginning of the loan in 2005 to when the PPI should have ben removed in 2009, the overpayments have made no difference in reducing the term. If the loan runs to term, then my friend will have paid the full £31K with the loan ending in Nov 2012

When my friend challenged the bank again as to why the loan is not reflecting the true amount to be paid back or, that whilst they're no longer paying the PPI, the value of it has remained on the loan. My friend got a reply stating that their personal bank and Internet bank will still reflect that they opted for PPI as the branch and system do not alter the records to reflect the changes, but PLSC have updated the records. My friend received statements only to find again that even they clearly state, and as my friend highlighted, the PPI amount still very apparent and evident on the loan.

Tell me if i have got this right,the remaining 17 months at the full payment your friend will make will be the full loan term payment (including the ppi payment) to reflect the balance of the loan from the statement for the loan that they have got at the present date?.
If this is correct then I am at a loss what the bank have done with this to be honest.

What was the monthly loan payment with ppi for the 60 months,and is interest put on monthly or is this included in the monthly payment?

di3004

k77mss wrote: »

hi guys well done on all the success in past few days quick question needing ceo for egg is it the same as lloyds? thanxs

Hiya

I found this one here for EGG - a Citi one actually.;)
CEO
[EMAIL="bert.pijls@citi.com"]bert.pijls@citi.com[/EMAIL]



Good luck x

di3004

beverleykim wrote: »

Re: Tescos Finance

Eight weeks since my complaint, three 'need more time' letters from Tescos, they come back to say they cannot trace my account!!! Even though I gave them the account number!! Complaint closed.

I don't think so, I have written back today enclosing some credit card statements and even their Welcome Letter dated 1999. More delaying tactics I feel.

My advice to all, photocopy and enclose as much info as you can with your initial complaint letter, so that they cannot delay the return of your money longer than necessary.

Good luck with all, and it looks like they're trying it on! The muppets, good for you for keeping at them, keep up the great work! x:T

amersall

kima09 wrote: »

Ok just another really silly question, with an HSBC credit card thta started mid '90's, with ppi, would the ppi provider be HSBC or someone else? How would I find out who the provider was, if its not HSBC, as I will need the policy number for the ppi won't I, and that will be different to the card number? Or is it? groan..................

If your credit card was HSBC then that is who you complain to,the card number is the account number,you dont have a seperate ppi number..

amersall

The_Marksman wrote: »

Ive one win with Egg and one loss,

or what do i do next?

the letter from egg is:

I would like to assure you that i have carried out a full review of your account and
all our records indicate that there have been no ppi premiums charged to your
account within the last six years (loan started in 1998 & paid off in 2000).

It is the policy of egg not to refund ant charges that were applied more than six years prior
to the date of your complaint. Therefore, in line with this fact your complaint has been rejected
(boo)

where or what should i do next please?

thanks x.

Yoohoo x.
If you have the account number (i assume you do!!!!) take this to FOS, this will be a long wait..........but.... people on this site have won with loan ppi from the 80s,me included!.
You have nothing to lose.

amersall

willkane wrote: »

Thanks to the MSE and its users for such an informative site. Just recieved a confirmation letter from Halifax offering £2166 for a £10,000 loan that was repaid 2 years early.

Refund on premiums £1565
Refund of Interest @10% £367
Interest @8% £234
Total £2166ish

But the thing is i went over my overdraft a couple of times to pay the repayment which meant i was charged for going over. I dont think this cost is included in the offer. Any thoughts?

Cheers

William

Well done on your win :j:j:j:j
I dont think you will have any joy getting these charges back as you made the choice to use the overdraft by not paying money in to cover the loan,you could try,but i doubt if you will get any where.
Any way 2 grand is a nice sum of money