PPI Reclaiming Discussion part 4

MandyLou66

di3004 wrote: »

Hi there and yes I believe there have been success in reclaiming from them, even sold online, but also check out the success thread next to this one.;)

Do you have the agreement for this still?

Or any paperwork?

If not write to them to request a copy of your agreement, enclose a £1 postal order of cheque payment to cover the cost of each agreement, they should supply this to you by 12 days of request.
(post by recorded delivery).

You could actually go for more paperwork by requesting a SAR (subject access request), you will find the template letter on this thread for this, there is a cost of £10 postal order or cheque payment for this actual request, they have 40 days to comply, but you should receive all the information they have on you going back at least 6 years.

The SAR may be useful later on if they have not resolved your complaints.

Again post by recorded delivery, good luck.;)

Thanks Di!

I have already SAR'd B/Card and Halifax and sent of reclaim letters according to advice on here but am not sure what First Direct (online) will come up with as I do not receive statements. I do have the original agreement from 2005 but obviously cannot recollect what the on screen application would have said??
It was a total payment of 850.00 incorporated into the monthly payments. Is it worth SARing them anyway?
Regards ML

Turboman

emmakirks wrote: »

Thanks Turbo for spending time doing these figures for me, so looks like (apart from the 8% FP are offering what they should. I am going to write over next few days and ask for the £3599.20 plus 8% interest on each monthly repayment. I have out the wording of the offer below that you have asked for:

..propose to make the necessary adjustments to your loan account to put it in the necessary position as if the PPI policy had not been taken. This will mean a full refund of the insurance premium of £8,851.50 plus interest paid on the premium to date of £2,441.49 and returning the part of your monthly payments made towards the payment protection insurnace premium to you £3.599.20. The monthly payments will then be rescheduled accordingly.

Thanks again. Emma

The wording is a bit confusing--I think they are saying that
-£8,851.50 is refunded in total( part repayment-part balance reducing)
-refund of interest paid on premium to date £2,441.49
-refund of part of premiums towards PPI loan (known as the Principal and presumably £1,157.71)
-the total of the interest + principal is the Total Payment in fact = £3,599.20 (I think the letter should have had the wording resulting in £3,599.20 at the end.)

Best I can do Emma without a detailed statement

Re the 8%--I assume its like Bank Charge reclaiming

-through the courts-you get it
-through the FOS-you appear to usually get it + sometimes an extra compensation award
-just receiving an offer direct (not through above Court or FOS)-you can ask for it , but they do not have to give you it

Could someone else confirm above para

Turbo

Turboman

Moni1509 wrote: »

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

Sorry Moni

Far too complicated without all the original agreement data & exact wording of settlement letters re refunds & rebates etc and all the dates and offers etc

I can only help if I have full info--

However, you would expect the original PPI to appear on top of your LOAN statement but certainly not your BANK statement.

emmakirks

Thanks Turbo, the offer letter wording is confusing. I phoned them and they said they would put back onto the loan account the first 2 figures and send us a cheque for the £3599. This si the bit I'll try and get the 8% on. Not sure how long I'll push this as not really wanting to go through lengthy process with FOS. Want to get this loan gone ASAP!

Thanks again for all your help.

di3004

showergirl wrote: »

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

Hiya Showergirl

How are you hun? Hope you are well too.:A

It can be a good idea to write to them, but as this has been dealt with by the FOS make sure with them first where they normally do request for a copy of the letter, so yes your on the right track here hun, see what the FOS say, or maybe write the letter to the FOS first to ask if that is okay to send.;)

Good luck hun, hope this resolves very soon.

Di
X

di3004

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.

Hi there

And yes keep trying here hun, that is quite a big difference in the amounts they are offering you, write back and tell them your not happy with that amount and still believe this was mis sold, if they do not offer you the amount it should be, you will have to consider taking further action.

I would also write in another letter to ask them to send you a full written breakdown of calculations to make sure.;)

Good luck.

di3004

MandyLou66 wrote: »

Thanks Di!

I have already SAR'd B/Card and Halifax and sent of reclaim letters according to advice on here but am not sure what First Direct (online) will come up with as I do not receive statements. I do have the original agreement from 2005 but obviously cannot recollect what the on screen application would have said??
It was a total payment of 850.00 incorporated into the monthly payments. Is it worth SARing them anyway?
Regards ML

Hiya hun

I would SAR First Direct if your lacking information from these, which may hopefully help your case.
They should supply everything they have on you going back as far as 6 years as you know.;)

di3004

Showergirl

In regards of my post above, is the adjudicator pretty good at getting back to you by email?

What I did with my Nemo case last year was email my letter into the ombudsman, they gave it the go ahead the same day, I was just thinking it may save you on time.
Fingers crossed to you.;) XX

showergirl

Hiya Di,

I have just received the letter from the FOS offering me my settlement. I will have to wait till my other half gets in tonight as we both need to sign it.

What a good couple of months we are having with the success rates. I am so pleased that things are moving for everyone as times are hard and this money will certainly help some get back on their feet.

I have decided to send the letter off to the FOS and give Tesco a ring in a couple of weeks to make sure things are on track.

I would like to thank you all for your help and wish everyone well for the future:A

P.S have a drink on me you deserve it

di3004

showergirl wrote: »

Hiya Di,

I have just received the letter from the FOS offering me my settlement. I will have to wait till my other half gets in tonight as we both need to sign it.

What a good couple of months we are having with the success rates. I am so pleased that things are moving for everyone as times are hard and this money will certainly help some get back on their feet.

I have decided to send the letter off to the FOS and give Tesco a ring in a couple of weeks to make sure things are on track.

I would like to thank you all for your help and wish everyone well for the future:A

P.S have a drink on me you deserve it

Hiya Showergirl.

Bless you, you have worked hard as well.......:T , well done to you :beer:.

Your very welcome hun and also a great help here as well.:T Thank you.

You too have a drink on me, you deserve this too :beer: , and I wish you all the luck in the world.:A

Di
XXX