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PPI Reclaiming Discussion part 4

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  • Hi there, im very new to this forum, but i have for quite afew months been writing letters to capital one about my ppi reclaim on my credit card,after my first letter they told me i wasnt entitled to anything so i sent the second template letter and they have sent me a letter today saying that as a goodwill gesture they are prepared to refund me 50% of the premiums that i have been charged and associated interest. Totalling £181.59. Now my question is do i accept this offer or do i write another letter requesting more????????? - not quite sure whether to take this offer or not
  • Anne.Jade
    Anne.Jade Posts: 127 Forumite
    amersall wrote: »
    :T:T:T:T:T:T:T:T:T:T:T excellent:j:j:j:beer::T:T:T:T
    love to see a winner with first plus well done!! :T:T:j:j:j:j( how long did this take you. if you dont mind me asking )

    I put complaint into the FOS at the beginning of June last year. Got letter from the adjudicator on Feb 14th this year saying they were looking at it. Once the adjudicator got it, it only took another 3 weeks!!!! :-)
  • Anne.Jade
    Anne.Jade Posts: 127 Forumite
    sue149 wrote: »
    well done to you:j :j can i ask how long it took you mine has just gone in to the hands off the adjudicator

    As I said above it took about 3 weeks from that point
  • Anne.Jade
    Anne.Jade Posts: 127 Forumite
    amersall wrote: »
    still no admission of wrong doing!! this is par for the course with fp FirstPlus is making this offer as a gesture of goodwill and without any admission of liability :mad::mad:

    Yep and they are not going to pay me £250 for distress and inconvenience either. The adjudicator did not mention 8% statutory interest on the money. I've got some workings out at work and am going to see how much that will deprive me of.

    Don't know whether it's worth the hassle but I may just let it go to the ombudsman to get the rest of the money as I really don't want FP to get away with anything!
  • TheBigDog
    TheBigDog Posts: 62 Forumite
    amydia wrote: »
    Hi there, im very new to this forum, but i have for quite afew months been writing letters to capital one about my ppi reclaim on my credit card,after my first letter they told me i wasnt entitled to anything so i sent the second template letter and they have sent me a letter today saying that as a goodwill gesture they are prepared to refund me 50% of the premiums that i have been charged and associated interest. Totalling £181.59. Now my question is do i accept this offer or do i write another letter requesting more????????? - not quite sure whether to take this offer or not
    Hi Amydia,

    Just been flicking through a few posts and saw this. If you read your letter carefully, you'll note that the lovely Ms. Renshaw hasn't given you a final response yet and she's inviting you back in to reply to her letter. What you now do is reply to her and state you're happy to accept the 50% as a partial sttlement, but not as a full and final. State that you feel that the ppi was mis-sold and that you feel you deserve it all back. Cap One will then crack and send you the lot within a couple of weeks. It might be worth pointing out here that it takes 3 letters on ppi with Cap One to get them to crack.

    Good Luck.

    TBD.
  • masmit
    masmit Posts: 146 Forumite
    zeblet wrote: »
    I have been claiming for a mis sold PPI from Lloyds TSB. It has been to court once when the Judge asked me to submit a statement as to the events of the day I visited the bank and took out the loan, which was several years ago but I have tried to recollect to the best of my knowledge. This has now been sent to the court and I have to go back on Monday 9th March. Lloyds sent a representative last time so I presume they will again. Can anyone give me any advise re court hearing. The PPI was mis sold on medical grounds as I was not asked about any pre existing medical conditions.
    morning di
    could you bump this to a new thread for zeblet, i dont know how & think it will get better exposure on its own. hopefully somebody seeing it will give advice too help.
    thanks.


  • Emma
    Hello Turbo, first of all thank you very much for having a look at my case

    Looking at the agreement this is the information that I have got:
    My first loan:
    Cash loan: £12,310.00
    Loan insurance: £3,137.83
    Annual Interest Rate: 8.44%
    Original amount of credit: £15,447.83
    Agreement opening date: 14/11/2007 for 86 months
    Total amount for the cash loan: £16,406.88
    Total amount for the insurance loan: £4,182.36
    Total amount for the total Loan: £20,589.24
    Total charge for credit on Cash Loan: £4,096.88 (my rough calc was £4,138--)
    Total charge for credit on Insurance loan: £1,044.53
    Total charge for credit for the Total loan: £5,141.41 ( Interest on Total loan )

    In actual fact, I calculate that on a 86 month cash loan of 12,310 the premium was £191-ish so the total sum you would have paid back just for cash loan would be £16,448
    (16,406.88)ie £4,138 (4096)interest
    Sorry, I do not understand properly, do you mean that they need to pay me more than £912.68? If yes, may you let me know why and if you think it will be good for me to ask Halifax for a second view.--No-I'm just emphasing that on the original loan you was paying interest which you hadn't taken account of in your initial post of comparing the 2 loans)

    Working back through your figures-I don't have all the info re the dates when the PPI loan was terminated but I calculate a balance on the old loan of £10,660 (at 16/2/09) -a difference of £444 on the new loan--there shouldn't be any penalty--if you are unclear-
    ask them for the balances & statements of the old loan

    Hello Turbo

    I have got the new information

    I started the loan on the 12/11/2007, cash loan £12,310 and the insurance £3,137.83.

    From the 13/12/2007 until the 14/02/2009 I have been paying interest, every month has been different I have paid £1514.95

    Since the 14/02/2008 I have been paying monthly £245.11 until the 14/02/09

    The balance up to the 14/02/2009 is £13.776.35

    Hoping this is the information that you need. I need to send the new agreement next week, may you let me know what the next step is

    Thank you very much for all your help and support

    Emma

    BTW-Assuming £11,098 is correct--£3,156 would be correct for the total interest over 74 months at 8.4%

  • Turboman
    Turboman Posts: 256 Forumite

    Emma
    Hello Turbo, first of all thank you very much for having a look at my case


    Since the 14/02/2008 I have been paying monthly £245.11 until the 14/02/09

    The balance up to the 14/02/2009 is £13.776.35

    Hoping this is the information that you need. I need to send the new agreement next week, may you let me know what the next step is

    Thank you very much for all your help and support

    Emma


    Clarifying

    Give me the monthly payment figure(s) from the start to 14/2/2008

    Do you know the interest rate % when the monthly payment changed?
    aka Calculator

    My grandmother started walking five miles a day when she was 60. Now she's 97 years old and we don't know where the hell she is.

  • di3004
    di3004 Posts: 42,579 Forumite
    masmit wrote: »
    morning di
    could you bump this to a new thread for zeblet, i dont know how & think it will get better exposure on its own. hopefully somebody seeing it will give advice too help.
    thanks.


    Hi Masmit, hope your well and yes "Done".
    I should have thought about this last night silly me......:o , but thanks anyway hun, hopefully now that its in a separate part, it will be seen, fingers crossed.;) X
    The one and only "Dizzy Di" :D
  • girlatplay
    girlatplay Posts: 3,884 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    KRBegum I bellieved I was miss-sold a Bank of Scotland PPI also. I wrote to them using the 1st template letter (also including a paragraph stating that they told me I HAD to take insurance cover, when I eventually agreed to their Bronze cover they told me that wouldn't cover me and I would HAVE to take the Gold cover). I received a letter from them within a fortnight saying they were looking into my complaint and they were sorry I felt the need to complain etc etc and that they would reply as soon as they could. I then received another letter within another fortnight saying they were really sorry they had not been in touch sooner, they were still looking into my complaint and they would be in touch with an answer really soon but definitely before 24th March. I have received a letter this morning with the usual apologies saying they have completed the investigation concluding that the policy may not have been appropriate for me and they are upholding my complaint!! Yay!!

    They say they will contact me shortly to confirm exact details of the amount that will be paid to me. Obvioulsy I don't know the amount yet but the only catch so far seems to be that they are saying if I hold an account with Bank of Scotland and it is in arrears it is their policy to offset the amount of redress they are offering against any outstanding balances. They say they are helping me to ensure the interest and/or charges (I have no charges luckily) in relation to my loan are reduced. Therefore, if I am in arrears, the redress will be used to reduce or clear the arrears and any surplus will then be paid to me. I still have my loan and (obviously) it has a debit balance (otherwise I wouldn't have a loan!!) so I do have a Bank of Scotland account in arrears. The reason I see it as a catch is because I don't get the money in my hand. If I hadn't taken the PPI I would have had all the extra funds to spend on whatever I wanted (other bills in my case).

    However, at least I am getting something back so I would say go for it. Use the template letters. Once it is all sorted out I will make sure the PPI is cancelled on my loan and I will look elsewhere for less expensive PPI. I still have 4 years left to go on my loan (it was a 6 year loan).

    I hope this helps and hope I haven't rambled too much.
    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £161,690.76
    300 271 payments to go.
    House buyout fund £21,000/£40,000
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