PPI Reclaiming Discussion part 4

Moni1509

Turbo, please do you think you could take a look at this for me?
and di3004 thanks for the link and advice.

Hi I am new to this brilliant forum and need some help. Apologies for the ESSAY in advance.

I am currently in the process of reclaiming PPI from HSBC. I have had a letter to say HSBC will uphold my complaint, proposing to repay the outstanding balance on my existing personal loan and offer me a refund of £2,754.85. I have to accept this offer by 26th March. I am over the moon as you can imagine, however, they had previously asked me to provide them with a copy of a policy from 1999 as their records didn’t go back that far, so I did. Looking at the breakdown provided to me for this offer, it does not include any refund for the 1999 loan.

I thought maybe it would be a good idea to send them another copy of the 1999 loan along with copies of my bank statement showing my monthly repayments. On checking the statements, I noticed that HSBC have debited my account upfront for the amount of the loan premium. So now I am confused, as I double checked the policy documents and my monthly repayment included PPI and interest on PPI of £19.38. This has happened on all the loans I have had with them. Have I been swiped twice or am I missing something?????

Also, I am not sure how they have calculated the interest or some of the other figures to be honest. This is one of the calculations they have provided me with:
Original PPI: £1,910
Term of loan: 5 years
APR of loan: 7.9%
12 premiums paid
(from 27/02/01 to 27/03/03) £460.55
Plus taxable interest at 8% £17.21
Plus refund of costs incurred
for early settlement £417.52
Loss at date loan was repaid £895.28
Plus taxable interest at 8%
From date loan was repaid to date £435.91
SUBTOTAL £1,331.19

For a start, from 27/02/01 to 27/03/03 is not 12 months but 25 months and by my calculations:

premiums paid is (£38.39x25) £959.62
plus 8% £75.81
plus refund of costs incurred for
early settlement £417.52
Loss at date loan was repaid £1,452.95
Plus taxable interest at 8%
From date loan was repaid to date £711.35
SUBTOTAL £2,164.30

So should I go back to HSBC telling them I will accept the offer but state that they need to revise their figures to include the above calculation and to include the 1999 loan and query why they have debited the PPI for all the loans upfront and then included it in my monthly repayments??????

Is there anyone that has had a similar experience and/or can advise me how to proceed fast as I am conscious of the 26/03/09 deadline.

Moni

EllBee

Just a quick update on my PPI claim against Loans.co.uk and chasing up the FOS. I finally managed to speak to the adjudicator who had dealt with my claim and had passed it on to the ombudsman back in August. He assured me that my case would be dealt with within the next few days (I spoke to him last Thursday) as 2 others relating to the same company had been dealt with and mine should be next. He did say that he'd update me daily (he hasn't!) and I'm waiting patiently now to see whether I do actually get a letter with the ombudsman's decision. I'm not building up my hopes - I'm not a lucky person!!! - but will be over the moon if the ombudsman does uphold my claim. The adjudicator found in my favour so I'm keeping my fingers crossed!!

Also received a letter last week from RBS regarding a PPI claim against a NatWest loan. They advised me that they have been unable to uphold my concerns and have offered, 'as a gesture of goodwill and without any admission of liability' the princely sum of 274.56!! (Lost my pound sign when computer crashed last week!) I'm now going to pursue a claim through the FOS. Got nothing to lose and possibly everything to gain. I live in hope!!!

di3004

EllBee wrote: »

Just a quick update on my PPI claim against Loans.co.uk and chasing up the FOS. I finally managed to speak to the adjudicator who had dealt with my claim and had passed it on to the ombudsman back in August. He assured me that my case would be dealt with within the next few days (I spoke to him last Thursday) as 2 others relating to the same company had been dealt with and mine should be next. He did say that he'd update me daily (he hasn't!) and I'm waiting patiently now to see whether I do actually get a letter with the ombudsman's decision. I'm not building up my hopes - I'm not a lucky person!!! - but will be over the moon if the ombudsman does uphold my claim. The adjudicator found in my favour so I'm keeping my fingers crossed!!

Also received a letter last week from RBS regarding a PPI claim against a NatWest loan. They advised me that they have been unable to uphold my concerns and have offered, 'as a gesture of goodwill and without any admission of liability' the princely sum of 274.56!! (Lost my pound sign when computer crashed last week!) I'm now going to pursue a claim through the FOS. Got nothing to lose and possibly everything to gain. I live in hope!!!

Hi hun

I feel you will get a good outcome out of this one, especially as it involves that loan company, and normally if the first adjudicator thinks it should be upheld the case continues......;)
Good luck and hope you hear real soon.

Good for you as well to move on with the others with the FOS.
I take it they would not higher the amount for you then?
Did you ask them first if they would?

nd20

hi, i recieved a letter from halifax offering my a refund of all ppi premiums as a goodwill gesture, they stated in their letter that if i had any arrears on my account over the credit limit the funds would be used to clear that first, then any money remaining would be sent to me in the form of a cheque. I have no arrears on the card and am under my credit limit, so was expecting a cheque for the full amount. today i have checked my online statement and they have refunded the full amount back onto my account and cut my credit limit by the same amount, this is not what i wanted and not what their letter stated, any suggestions as to what steps i should take next?

thanks

di3004

nd20 wrote: »

hi, i recieved a letter from halifax offering my a refund of all ppi premiums as a goodwill gesture, they stated in their letter that if i had any arrears on my account over the credit limit the funds would be used to clear that first, then any money remaining would be sent to me in the form of a cheque. I have no arrears on the card and am under my credit limit, so was expecting a cheque for the full amount. today i have checked my online statement and they have refunded the full amount back onto my account and cut my credit limit by the same amount, this is not what i wanted and not what their letter stated, any suggestions as to what steps i should take next?

thanks

Hi there hun, I have left you a post on the other thread, hope it helps you, but forgot to say is to also request for a full written breakdown in calculations in how this worked out, ask them to post them to you for as soon as possible, along with the other issues I have mentioned on my the other post I replied to. Good luck.;)

knitjob

Hi I was wondering if anyone can help.I received a letter today from Captial one about reclaiming my ppi on a credit card I payed off in April 2007. They are stating that my ppi was sold correctly and they would give me £50.49. The total amount on card that was paid off was £1211.74.Is this about right or should I continue to try and claim more?Thank you for your help.

maxdp

PHIL9683 wrote: »

:mad: :mad: :mad: :mad:
I was very grateful to receive a letter from A&L with a refund promise of £591 (brilliant Martin thanks for all of the help)
That was 5 weeks ago. I left things for three weeks then phoned, to be told oh yes you have completed all of the paperwork, we will get our payments department to issue the cheque. I have phoned again this week to be told virtually the same thing.
Any advice on where i go next with this - as my patience is wearing very thin!!
Many thanks for any appreciated help

Hi Phil think LBA is good idea as Di said. In my case it was 6 weeks to the day. So don't give up yet. Really hope they pay out for you.;)

maxdp

EllBee wrote: »

Just a quick update on my PPI claim against Loans.co.uk and chasing up the FOS. I finally managed to speak to the adjudicator who had dealt with my claim and had passed it on to the ombudsman back in August. He assured me that my case would be dealt with within the next few days (I spoke to him last Thursday) as 2 others relating to the same company had been dealt with and mine should be next. He did say that he'd update me daily (he hasn't!) and I'm waiting patiently now to see whether I do actually get a letter with the ombudsman's decision. I'm not building up my hopes - I'm not a lucky person!!! - but will be over the moon if the ombudsman does uphold my claim. The adjudicator found in my favour so I'm keeping my fingers crossed!!

Also received a letter last week from RBS regarding a PPI claim against a NatWest loan. They advised me that they have been unable to uphold my concerns and have offered, 'as a gesture of goodwill and without any admission of liability' the princely sum of 274.56!! (Lost my pound sign when computer crashed last week!) I'm now going to pursue a claim through the FOS. Got nothing to lose and possibly everything to gain. I live in hope!!!

Hi EllBee.
Am sure you will be successful with the Ombudsman;)

You are quite right to not accept any good will gestures. They usually get you to sign a form saying in full and final as well so that if you accept you cannot then do anything further against them.:rolleyes:

Perhaps write to them once more saying that you are not happy with their offer and to make a better offer. Give them 2 weeks then take them to FOS after that. It may be quicker that way. FOS 12-15 months so I understand at the moment. Good Luck

maxdp

knitjob wrote: »

Hi I was wondering if anyone can help.I received a letter today from Captial one about reclaiming my ppi on a credit card I payed off in April 2007. They are stating that my ppi was sold correctly and they would give me £50.49. The total amount on card that was paid off was £1211.74.Is this about right or should I continue to try and claim more?Thank you for your help.

This is a goodwill gesture. My thought is that if they are paying that out then you can take it further. Tell them that you are not happy and to reconsider. Get them to send you a full set of workings out and 14 days to reply. Good luck and let us know how you get on.

showergirl

Hi,

Hope you are all well.

I need a bit of advice. As I told you Tesco have made an offer of goodwill to pay back the full ppi + 8%. They made this offer on the 23rd of Feb, but the FOS have just sent the letter to myself yesterday so I still have to wait a couple of days.
Do you think I should copy the letter and send one back to the FOS but also send one to Tesco in the hope that this may speed things up.

Thanx