PPI Reclaiming Discussion part 4

anaylorefc

amersall wrote: »

Hi there, you are correct re the ppi on the statements,if it is not there then there is a chance you did not pay this,does it say interest and monthly payment,or is there something else on the statements?.
Give them a ring and ask if they can go further back,you may have had it put on at some point but then it could have been taken off.

just a monthly interest

amersall

milly456 wrote: »

Sorry, probably my fault. I will type in exactly as the offer says

"The capitial for the loan was 5000, with the interest charged totalling 2472.40. The PPI policy was included in the cost of the loan for 1541.90, with interest charged totalling 762.10. The total amount payable for the loan was 9776.40, repayable over a term of 120 months. The monthly payment for the loan was 62.27 for the capital element, 19.20 for the PPI, with a total monthly payment of 81.47. The APR wa 8.9."

and the offer is

"You have paid 1171.20 in PPI premiums and interest, which we will refund. We will also refund 8% simple interest totalling 257.18. Total amount offered is 1428.38.

After removing the PPI will will adjust your balance to 3673.93 (from 4806.73) , as if you had never taken the PPI. Your direct debit will be amended to 62.27"

Ta

Milly

Thank you for this,i believe Derwent has worked this out for you.

Derwent

amersall wrote: »

Thanks for this, just one question,if the interest over the term,bearing in mind this is a fixed amount,and this loan is half way through,that figure of 257.79 is not 60 months of interest.
Also,the op has not mentioned the 8% either.

The £257 is the 8% simple interest. The monthly interest on the PPI is already included in the £19.20 per month and thus £19.20 x 61 payments is the £1,171.20 refund.

amersall

anaylorefc wrote: »

just a monthly interest

Sorry,but it looks as if there was no ppi on there,it is a shame you could not get hold of more statements,as although it is not on the agreement,some have ppi put on when the card is activated,so it could have been on there previously and it has been taken off at some point.
May be worth giving them a ring and asking about this.

amersall

Derwent wrote: »

The £257 is the 8% simple interest. The monthly interest on the PPI is already included in the £19.20 per month and thus £19.20 x 61 payments is the £1,171.20 refund.

Thank you :cool:

cappo

di3004 wrote: »

Hi Steve
How are you?
Okay there thank you, you know what I'm like here and there lol.:D;) xx

alright Di:)

cjenko

HI all,
i am new to this site but im finding the info fantatic and really helpful,
my query is:
can i still claim for ppi missold if the loans and credit cards are older than 6 years?
any info would be great,

Thanks

Derwent

cjenko wrote: »

HI all,
i am new to this site but im finding the info fantatic and really helpful,
my query is:
can i still claim for ppi missold if the loans and credit cards are older than 6 years?
any info would be great,

Thanks

Yes you can still make a complaint. The 6 years that people refer to is often misunderstood - it is 6 years from when you first realised that the PPI had been missold, not 6 years from the date of the credit agreement.

The biggest problem with older claims is that if you don't have the documentation for the credit agreements then some banks will deny having it on record and you will have to go through the SAR (Subject Access Request) process to try and get the information from them.

di3004

cjenko wrote: »

HI all,
i am new to this site but im finding the info fantatic and really helpful,
my query is:
can i still claim for ppi missold if the loans and credit cards are older than 6 years?
any info would be great,

Thanks

Hi and welcome

And yes you can, just make them aware that you only recently became aware of the ppi mis selling and you believe it applies to you.

Many have made successful reclaims from even older accounts from the 90's, so its worth giving it a go.

All you do is complete the reclaim questionnaire as on step 3 below, send to the head or complaints office of whoever sold you the accounts, keep copies.
The main of the banks have been given extra time, the usual is 8 weeks, but its currently been 16 weeks, as from the 1 Sept its 12 weeks, then back to the usual 8 weeks after October.;)

Hope this info helps and good luck.:)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

lisajaynec

cappo wrote: »

Hi again woody think it was lisajayne chasing the house of fraser card actually, sorry the pennies just dropped about santander being connected with them, if santander owns house of fraser, i have a complaint addy for them it is. someone will be on here shortly to help with the other details




santander uk
complaints department
po box 1125
bradford
BD1 9PG

I am chasing santander, had one win so far from house of fraser mastercard, although still chasing santander for their store card and wallis account. I used the same template and got turned down on 2 but won one strange so been to FLA and knocked back again so now sent it off to Ombudsman.
Santander sent me a letter saying that i had been awarded £425.16 premiums, interest £155.29 and loss of cash £40.70. I didnt have to sign to accept or anything it was added to my card and the amount owing was reduced, but i have had the cupboards out and i think i paid more in premiums than they paid me-should i ask them to have another look at this?
Any advice gratefully received as always
Lisa