PPI Reclaiming Discussion part 4

cappo

claire86 wrote: »

Hello! I'm new (to posting, been a lurker for years), just have a quick question. I complained about PPI on an RBS business loan in April using the guides and letter templates on here (thanks for that!). I didn't know the PPI was there, couldn't have claimed on it if I wanted to as far as I'm aware and haven't been running the business since 9 months after I took the loan out, in fact haven't been in paid employment at all since then due to my son's ill health and care needs and yet been paying the loan and PPI all this time, just finished in May. My letter got sent back to me un-read and I took it into the branch for them to forward to the correct department. They acknowledged receipt of the complaint in June and said I'd hear within 4 weeks. Four weeks later I had a letter saying it still hadn't been resolved and would be another 4 weeks. Two phone calls later, I've been told firstly I'd hear by the end of August and now being told I'll hear by the end of September. I never received any communication whatsoever from them other than these two "it'll be 4 more weeks" letters, no word that they'd had their 8 week deadline extended, nothing until I phoned them to query why it had been so long. My question is - will I actually have a decision by the end of September (they told me on my last phone call that they received my complaint at the end of May) or will they be able to delay it even further? Also, I'm not sure how much I should be expecting back should they uphold my claim? The loan was for £4000 over 4 years (2007-2011) and I estimated I paid somewhere in the region of £500-ish in PPI.

Hi claire and welcome, i think you should be ok, i'm hearing the same from a friend of mine, he's just being kept waiting now, be patient it'll get sorted no news is good news

ryan_gillespie

Hey everyone, was hoping to get some thoughts/advise on a bit of different than usual scenario involving PPI.
Basically, turns out I've had it since August 2008 and it is showing on my statement. I do my accounts online and, to be honest, I never pay attention to the charges. Stupid I know.
I then did what everyone else is doing and recently called Capital One to start the ball rolling on reclaiming it as I have never needed it etc. I just got a letter saying I was not entitled to it being refunded as I was aware of it being charged and had signed for it. I called up and asked when I signed for it as I don't recall ever agreeing to it and asked was it on the online application or was it a physical signature. The customer support told me it was a physical signature. Again, I probably never paid attention to what I was signing and just wanted to finish the application form.
What makes this a bit different is, in early 2008 I was involved in a serious road traffic accident and was being treated for traumatic brain injury at that time also. May explain my lack of attention or fully understanding of what I was signing at the time.
I don't know if that detail can be used to my benefit though. Any suggestions?

Emma2588

Hi All

Congrats to any winners today.

If it's possible if anyone could just check the following offer to see if it's right:

PPI: £372.85
APR: 16.9%
loan term: 30 months

PPI redress: £449.83
8%: £158.04

Total offer: £607.87

Thanks in advance.

conkerlily123

cappo wrote: »

Hi conker what a pain,you might as well wait now,you've waited this long by the time the fos sorted it now you'd be drawing your pension lol, you know what i always say, no news is good news,hope you hear soon. steve:)

Hi Steve,
Had a letter today from the thieving scumbags otherwise known as First Plus.
They have rejected my claim.
Absolutely Gutted
They say that I was informed of all the relevant information regarding the reasons I believed I was mis sold.

Any advice on what to do now?

Many Thanks
Lily

diceberg06

I made a PPI Claim to halifax 01/07/11 for loans and credit cards anyone any idea when I would get a reply?

cappo

conkerlily123 wrote: »

Hi Steve,
Had a letter today from the thieving scumbags otherwise known as First Plus.
They have rejected my claim.
Absolutely Gutted
They say that I was informed of all the relevant information regarding the reasons I believed I was mis sold.

Any advice on what to do now?

Many Thanks
Lily

hi conker how unfair, i'd send it in to the fos now,have you any reasons to fastrack your application i.e financial hardship ,medical reasons etc i'd say this would be the best bet now or you could mcol them which is quicker but there is a fee.

virtuous

Hi Clissold,

I have not sent an acceptance letter as yet because I have an issue with Halifax. They sent me a photocopied letter with the ends black. I am thinking of contacting their CEO., but first I want to go to their branch so that they can be witnessess that the letter they sent me was photocopied and then signed. I have also want them to re-calculate the amount.

cappo

diceberg06 wrote: »

I made a PPI Claim to halifax 01/07/11 for loans and credit cards anyone any idea when I would get a reply?

Hi diceberg the banks and bulding societys are very slow in responding, some of them haven't even made there fsa deadlines either, be patient it will get sorted out though.

cappo

ryan_gillespie wrote: »

Hey everyone, was hoping to get some thoughts/advise on a bit of different than usual scenario involving PPI.
Basically, turns out I've had it since August 2008 and it is showing on my statement. I do my accounts online and, to be honest, I never pay attention to the charges. Stupid I know.
I then did what everyone else is doing and recently called Capital One to start the ball rolling on reclaiming it as I have never needed it etc. I just got a letter saying I was not entitled to it being refunded as I was aware of it being charged and had signed for it. I called up and asked when I signed for it as I don't recall ever agreeing to it and asked was it on the online application or was it a physical signature. The customer support told me it was a physical signature. Again, I probably never paid attention to what I was signing and just wanted to finish the application form.
What makes this a bit different is, in early 2008 I was involved in a serious road traffic accident and was being treated for traumatic brain injury at that time also. May explain my lack of attention or fully understanding of what I was signing at the time.
I don't know if that detail can be used to my benefit though. Any suggestions?

sorry ryan you might have a problem with this one, the fos seem to side with cap 1 rather too much for my liking, i'm not trying to be negative i have found this myself as i have a cap 1 case in with the fos at the moment which is being forwarded to the ombudsman. you could try mcol again but there is a fee attached to using them. good luck

virtuous

Niggly wrote: »

virtuous wrote: »

Hi di3004 and Niggly,

I requested for calculation for the following but no one has come forth, so I am re-posting it again.

Hi Di3004,

Finally got a letter from Halifax but to be honest I do not understand their calculation. I took a loan of £6,000 in 2000. In my agreement

6,000 - Loan
2,230.20 charge
=Total: 8,230.20
1,278.28 - Insurance
424.00 - insurance charge
Total insurance= 1,753.20
Total to pay= 9,983
APR - 14%

Second loan taken in June 2003

Loan - £6,400
Credit charge- £1,983.80
Total £8,983.80

---

Insurance £1,477.82
insurance charge £ 424.78

Total Insurance £1,902.60

APR 10.9%

This what the Halifax has come up with that is why I need help:-

First Loan they offered the following figures

Refunding of premium £983.21
Refund of interest at 14% £365.47
Interest at 8% calculated at 30/08/2011 £992.99
Optional excess balance & Interest £ 93.67
Total £2,435.30


Second Loan they offered the following:-

Refund Premiums £ 516.53
Refund of interest at 10.9% £ 171.50
Interest at 8% as at 30/08/2011 £ 406.30
Total £1,094.33

Total Loan 1 and 2 =3,529.67

Can you please advise whether these figures are correct.

I am not happy with second loan figures. This loan was paid in full.

You are due back the whole of the ppi plus the interest paid. Then 8% on the cash price from June 2003 to August 2011

I would calculate a return of the cash price of the ppi £1,477.82
A return of the interest payable £424.78
8% From June 2003 to August 2011 on the ppi cash price = £975.36
Total £2877.96

Go back and quote the calculations I have given.

Thanks N:beer:

Hi Niggly,

Many thanks for calculating these figures. I forgot to tell you that the letter Halifax sent to me was photocopied and at the ends it was black like the printer was about to burn or something. I tried today to visit one of their branches so that one of their staff can verify this is true and then email them my concern as well asking them to re-calculate. Yesterday, I tried calling them but was kept holding for ages, I had to hang up. I want to try emailing the CEO again this time with a copy of my discharge letter. Do you this, this is a good idea?