PPI Reclaiming Discussion part 4

cydney65

Hello all,

Well, after sending out PPI claim on 13th February (thanks to all your kind advice), I received an interum reply on 26th Feb (dated 18th feb) acknowledging my complaint and reaffirming that Halifax are allowed 8 weeks to investigate. I am claiming due to not being asked about previous medical conditions and because the selling of the policy was aggressive, so I felt that I couldn't say no.

This morning I received another letter, dated 5th March, which states that the review manager has considered the information available to them:

'...in view of the fact that you are a valued customer, I have decided to pay you an amount which will put you back in the position you would have been in had you not taken out the insurance. This is done without admission of liability and in full and final settlement of your complaint about the PPI on your card.'

They are sending out details of the amount 'shortly'. Initially I was almost dancing (I've had sooo many problems with Halifax in the past that, any little victory is delicious ) but now I'm wondering what this amount will be?

I have had this card since 2001, paid it off in 2002, then started using it again in 2003. The debt is all to do with house moves and I have moved a LOT in the last 6 years, mostly because of my health. I would really like the amount to shift a good bit off my current debt as, TBH, it has been the PPI which has pushed it up considerably. I'm now worried because I'm quite unwell at the moment and I really don't want to have to go to the financial ombudsman, but I will if they offer an amount under £1,500.

I'm a bit carp at figures and I didn't ask for, or calculate any amounts. Can anyone give me some pointers as to how to go about getting some sort of estimate? What information do I need and how do I calculate a ball-park figure which would be fair?

Thanks guys for all your help and support so far :T

CydneyX

Turboman

cydney65 wrote: »

Hello all,

Well, after sending out PPI claim on 13th February (thanks to all your kind advice), I received an interum reply on 26th Feb (dated 18th feb) acknowledging my complaint and reaffirming that Halifax are allowed 8 weeks to investigate. I am claiming due to not being asked about previous medical conditions and because the selling of the policy was aggressive, so I felt that I couldn't say no.

This morning I received another letter, dated 5th March, which states that the review manager has considered the information available to them:

'...in view of the fact that you are a valued customer, I have decided to pay you an amount which will put you back in the position you would have been in had you not taken out the insurance. This is done without admission of liability and in full and final settlement of your complaint about the PPI on your card.'

They are sending out details of the amount 'shortly'. Initially I was almost dancing (I've had sooo many problems with Halifax in the past that, any little victory is delicious ) but now I'm wondering what this amount will be?

I have had this card since 2001, paid it off in 2002, then started using it again in 2003. The debt is all to do with house moves and I have moved a LOT in the last 6 years, mostly because of my health. I would really like the amount to shift a good bit off my current debt as, TBH, it has been the PPI which has pushed it up considerably. I'm now worried because I'm quite unwell at the moment and I really don't want to have to go to the financial ombudsman, but I will if they offer an amount under £1,500.

I'm a bit carp at figures and I didn't ask for, or calculate any amounts. Can anyone give me some pointers as to how to go about getting some sort of estimate? What information do I need and how do I calculate a ball-park figure which would be fair?

Thanks guys for all your help and support so far :T

CydneyX

If you have all your statements--the PPI will be listed each month--it is usually something like 79 pence for each £100 of outstanding balance.

You then put the sums & dates into a spreadsheet (on Martins main site) to calculate the extra 8% interest that you should get

There is an argument of going for a higher interest figure known as Contractual Interest but you will have to understand the law AND they will say no & you will then have to go down the rote of filing in court.

If you don't have the statements-for £10 you can request them under the Data Protection Act--someone will post a letter up for you if you ask--as they have conceded, you won't need the full SAR I suspect-just the statements.

Or just trust them(Halifax are one of the best) or ask for the details on how they have calculated the figures


PS--While you are going through the statements-list dates/Amounts of any Penalty Charges(if you have any) as well--ie--Late Fee, Overlimit Fee, etc (but not interest)--then if significant--later--you may then wish to claim them back (on another thread )

Aurelia_2

I had no idea that what the credit card companies had done to me was, basically, illegal. Both Capital One and Egg added an insurance payment to my monthly statements without even telling me about it at any time. I noticed the insurance payments a couple of years after having the cards and canceled them (the insurance payments), to cut my monthly costs as much as possible, but now seeing all of this information I'll be writing to them both to claim it back.

I tried to access my egg statements online (as that's how they have always sent my statements) and they won't show me any further back than 12 months...which is when I canceled the insurance! I didn't apply for the card online though, so I'll follow the example letters for all of this to get copies of the costs, etc. Wish me luck

di3004

girlatplay wrote: »

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.

Well done you and of course it will help others and give them an idea of whom are in the same situation.;) :T , great work......:beer:

Di
X

di3004

Aurelia wrote: »

I had no idea that what the credit card companies had done to me was, basically, illegal. Both Capital One and Egg added an insurance payment to my monthly statements without even telling me about it at any time. I noticed the insurance payments a couple of years after having the cards and canceled them (the insurance payments), to cut my monthly costs as much as possible, but now seeing all of this information I'll be writing to them both to claim it back.

I tried to access my egg statements online (as that's how they have always sent my statements) and they won't show me any further back than 12 months...which is when I canceled the insurance! I didn't apply for the card online though, so I'll follow the example letters for all of this to get copies of the costs, etc. Wish me luck

Hi there

I wish you luck and if there is any help you may require, please post up and we will do all we can to help.
Fingers crossed for you.:A X

cydney65

Thanks Turboman. I shreaded my statements as part of my opening all my letters at LBM-I know silly thing to do.

If Halifax are pretty good, I'll go with what they say, after asking about how they worked it out.

I love MSE and everyone on it :T

CydneyX

runydoo

Hi, I am new to this site and thought I would try it out.
Last month I used the template letters from here to reclaim bank charges and PPI. At the moment I have had a response from all three which were sent recorded delivery...for my own peace of mind, as I thought the companys would deny receiving them. My bank has acknowledged receipt of my letters and assures me that they are being investigated. I could really do with a little bit of advice on a further letter from a company called British Credit Trust.
On January 2002 I purchased a car which was financed with the above company. In November 2002 I requested a settlement figure which was supplied to me as 2,893.58 less interest. I paid this figure in full, December 2002. I have since noticed that the original agreement states that PPI was 26.25 per month, payable with the instalments.
I wrote to British Credit Trust on 23rd Feb and received a letter dated 5th March. The letter reads;

Final Response

RE - Agreement Number xxxxxxx - complaint of mis-sold PPI

Further to your complaint regarding the mis-sale of a PPI policy. I am writing to confirm the outcome of our investigations and thank you for your patience while these have been ongoing. We have fully investigated the circumstances surrounding the sale of the PPI policy to you and have reviewed the conversation you had with our British Credit Trust LTD representative when the insurance was purchased.

We are sorry to hear that you feel your best interests were not observed at the time the policy was sold to you. Although your letter is clearly of a generic nature we will provide our final response.

The sale of the policy was conducted by the supplying dealership in 2002 therefore your complaint should be directed to them.Also this sale took place prior to the date when the FSA began regulating insurance sales (14th January 2005) and is also outside the time span for investigation by the Financial Ombudsman Sevice.

After reviewing the information regarding the sale of the policy we will not be upholding your complaint.

Yours sincerely,
Blah, blah, blah!

:mad:

So taking into account that the FSA only began in 2005, do I not stand a chance of claiming this back? I don't understand why I have to write to the dealership as it was British Credit Trust who supplied the finance to me.
Is this letter the standard fob off and do I write to them again using the second template letter? I need help!

di3004

runydoo wrote: »

Hi, I am new to this site and thought I would try it out.
Last month I used the template letters from here to reclaim bank charges and PPI. At the moment I have had a response from all three which were sent recorded delivery...for my own peace of mind, as I thought the companys would deny receiving them. My bank has acknowledged receipt of my letters and assures me that they are being investigated. I could really do with a little bit of advice on a further letter from a company called British Credit Trust.
On January 2002 I purchased a car which was financed with the above company. In November 2002 I requested a settlement figure which was supplied to me as 2,893.58 less interest. I paid this figure in full, December 2002. I have since noticed that the original agreement states that PPI was 26.25 per month, payable with the instalments.
I wrote to British Credit Trust on 23rd Feb and received a letter dated 5th March. The letter reads;

Final Response

RE - Agreement Number xxxxxxx - complaint of mis-sold PPI

Further to your complaint regarding the mis-sale of a PPI policy. I am writing to confirm the outcome of our investigations and thank you for your patience while these have been ongoing. We have fully investigated the circumstances surrounding the sale of the PPI policy to you and have reviewed the conversation you had with our British Credit Trust LTD representative when the insurance was purchased.

We are sorry to hear that you feel your best interests were not observed at the time the policy was sold to you. Although your letter is clearly of a generic nature we will provide our final response.

The sale of the policy was conducted by the supplying dealership in 2002 therefore your complaint should be directed to them.Also this sale took place prior to the date when the FSA began regulating insurance sales (14th January 2005) and is also outside the time span for investigation by the Financial Ombudsman Sevice.

After reviewing the information regarding the sale of the policy we will not be upholding your complaint.

Yours sincerely,
Blah, blah, blah!

:mad:

So taking into account that the FSA only began in 2005, do I not stand a chance of claiming this back? I don't understand why I have to write to the dealership as it was British Credit Trust who supplied the finance to me.
Is this letter the standard fob off and do I write to them again using the second template letter? I need help!

Hi there

I do understand how frustrating this is for you.

However, hope you do not mind, but I think someone on these forums maybe able to offer some help/info, so I am going to send the poster the message in hope they will get back with some answers for you very soon.;)

Di
X

dinerodinero

Turboman wrote: »

Clarifying

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

Hi Turbo, here is all the information that they sent me:

13/12/07 – Debit - £104.74
13/01/08 – Debit - £105.45
13/02/08 – Debit - £106.16 / payment - £245.11
13/03/08 – Debit - £105.22 / payment - £245.11
13/04/08 – Debit - £104.27 / payment - £245.11
13/05/08 – Debit - £103.32 / payment - £245.11
13/06/08 – Debit - £102.35 / payment - £245.11
13/07/08 – Debit - £101.39 / payment - £245.11
13/08/08 – Debit - £100.41 / payment - £245.11
13/09/08 – Debit - £99.43 / payment - £245.11
13/10/08 – Debit - £98.44 / payment - £245.11
13/11/08 – Debit - £97.45 / payment - £245.11
13/12/08 – Debit - £96.45 / payment - £245.11
13/01/09 – Debit - £95.44 / payment - £245.11
13/02/09 – Debit - £94.43 / payment - £245.11

Balance: £13,776.35

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

Sorry, I do not know the interest rate

Let me know what you think

Thank you

Emma

maxdp

Anne.Jade wrote: »

Got letter from the Ombudsman today, saying:-

"FirstPlus is willing to make you an offer in line with my recommendations, save for the payment for distress and inconvenience, in full and final settlement of your complaint.

FirstPlus is making this offer as a gesture of goodwill and without any admission of liability

You now need to consider this offer. The offer from FirstPlus is less than the redress that I indicated in my assessment as it does not include the payment for distress and inconvenience

Your case could be referred for an ombudsman's final decision in which case I consider it likely that an award would be made for distress and inconvenience, Nothwithstanding this you may wish to consider accepting this offer"


So yayyyyyyyyy! They sent me a copy of their letter to FirstPlus which I still need to get my head around. Basically it says that they must put me back into the position I would have been in had I taken out the loans but not the PPI policies.

:beer: :beer: :beer: :beer: :beer: :beer: :beer:

Really pleased for you Anne Jade. Very well done.:T :T