PPI Reclaiming Discussion part 4

Niggly_2

Lou.T wrote: »

Thank you very very much Niggly -

I had calculated loan 2 at about that but for loan 1 i had added back the difference between what the settlement figure was (6500) and what it would have been had I not had PPi added and still made the same monthly payments - which at a difference of about 1900 - this is where my confusion arises !

is redress meant to put you back to where you would have been should you have never paid PPI? if so then would this difference in the whole loan settlement figure apply including the ppi rebate? Sorry if this is a bit muddled... and again thanks to you and all the others on this forum, it has kept me sane (ish) through the agony of waiting for an answer!

Well done to all who have got back what is rightfully theirs! :T
and best of luck to the rest of us who wait patiently...!

Having read a couple of the Lloyds letters it would seem that is what they do. So it may be your are in for a bigger cheque. I am very cautious so I just use conservative assumptions when it comes to this. The trouble is that in these cases the FOS have made suggestions on how to deal but ultimately the final calculations are down to each lender. What ever the fig its going to be a biggy. I just wish they would speed things up for you. I know they use computers to work out the redress in each firm. I think its a case of so many claims to pay and not enough qualified staff to make them.

I suppose every day that goes past is more interest on the money and you wont find many deposit accounts that pay 8% gross.

N

rachelhen

I started a claim for reclaiming PPI with Capital One who say that because it has been clearly shown on my statements that I must have known and also that I agreed to it on the phone. I was working full time for local council and would have got sick pay doesn't sound right to me. I have no recollection of agreeing to it.

fight_the_power_2

rachelhen wrote: »

I started a claim for reclaiming PPI with Capital One who say that because it has been clearly shown on my statements that I must have known and also that I agreed to it on the phone. I was working full time for local council and would have got sick pay doesn't sound right to me. I have no recollection of agreeing to it.

i had a claim with capital one got a letter saying that my claim was upheld a few days later got another letter with a different ref number say that after investigation i would not be getting a refund as i had agreed to the ppi over the phone which was a lie ,then another couple a days or so got a phone call from the head of the response centre saying that were sorry for sending the second letter and my claim was being upheld after all so if i was you i would not give up ask them for the recording of the phone call for starters and see what their response is

fight_the_power_2

Have only six days left and my cheque from mbna should be arriving:rotfl:i doubt it though, could not get through on the phone to ask some questions so i emailed the ceo and asked him wether i would be informed when my cheque was being sent also asked if it would be sent special delivery/recorded mail as i would not like that amout of money sent through the post to me without notification and protection have not heard any thing yet,shame they are a bit quicker when it come to reminding me i had not paid my credit card bill from 8 days ago

cappo

fight_the_power wrote: »

Have only six days left and my cheque from mbna should be arriving:rotfl:i doubt it though, could not get through on the phone to ask some questions so i emailed the ceo and asked him wether i would be informed when my cheque was being sent also asked if it would be sent special delivery/recorded mail as i would not like that amout of money sent through the post to me without notification and protection have not heard any thing yet,shame they are a bit quicker when it come to reminding me i had not paid my credit card bill from 8 days ago

I too are waiting for an mbna cheque seems to take forever them paying out lol:(

fight_the_power_2

cappo wrote: »

I too are waiting for an mbna cheque seems to take forever them paying out lol:(

Hi cappo do you mind me asking how long you have been waiting???

amersall

Hi guys,can anyone give anymore help to this poster? she has been treated with total disregard by Welcome.

near bottom xxxx thanks xxxxxxx
https://forums.moneysavingexpert.com/discussion/1706085

CookieB

cappo wrote: »

I've now had this with my cmc now had £235.00 charges for recovering a misell for doing diddly squat (couple of letters), but the big prob is you would have signed a contract so be very careful, the charges for pulling out of a contract with them are anything up to £135.00 an hour it's normally in the contract. (they will at there discretion charge these amounts and probably book in around about 4-5 hours gippa it's going to be far easier to just take your win and pay them,i've now had hsbc try to do a deal with the 3 hsbc cases i've got left with the cmc the rest i'm doing, the bank have suggested dealing only with me on the cmc ones and cutting them out,but again you can't do that for contractual reasons as much as i'd like to.)

My husband went through GB for our loan (not what I wanted) and we are now in the same position. We will now have to pay GB over £3000!!!!!!!!! How can I get out of this? I note your comments about CMC. Please excuse my ignorance but what does that stand for? I was thinking that if I go through them, paying the £135 per hour for 5 hours will still be cheaper!!

a1chrissie

Niggly wrote: »

They are using the compensation on the previous loans to pay off the current loan and you get to keep the change. This of course means you will be debt free with them.

Just a couple of things I have thought of. The interest of £1,246.53 will be added to your taxable income this year so if you earn more than your personel allowance or this takes you over the personel allowance you will have to pay tax on it at the rate you pay. 20% of £1246.53 is £249.31

Also I see no mention of ppi on the existing loan. If there is ppi you might want to check out what they have done to compensate you on this loan.

N:beer:

Hi, Thanks Niggly and IanC for your advice.

Niggly with regard to my last loan i actually made a successful claim on this loan and a payment of £9,000. was made. So i am guessing as i actually claimed on the loan they are not going to reimburse me in anyway.

What are your thoughts? And do you think i should accept this? Regards,

Chrissie:money:

Niggly_2

amersall wrote: »

Hi guys,can anyone give anymore help to this poster? she has been treated with total disregard by Welcome.

near bottom xxxx thanks xxxxxxx
https://forums.moneysavingexpert.com/discussion/1706085

My wife has just told me off for the foul language coming from the office.

How dare they treat you like this.

I have had dealings with gangsters like this and I am on the most hated list at a couple of debt collectors agency.

I will help compose a letter that will go off to Welcome Finance, OFT and FOS. This bully boy will be the one quaking after we have dealt with him.

I have time on my hands as school holidays and I know a few people from another site (you know who amersall) who will pitch in with their views.

We are going to scythe them down:mad::mad::mad::mad::mad::mad::mad::mad:

N