PPI Reclaiming Discussion part 4

lisajaynec

smitchy73 wrote: »

Hi Lisa,
The 8% is so low as they don't work out this the same as with a loan, you only get the 8% simple interest if your account goes into credit(they owe you) when they adjust your card with the ppi adjustment.

When working it out, they have to go back to the first month you paid ppi, and put the ppi plus any interest this has gathered back on to your card, they have to keep doing this for each month's ppi charge, and as they go along they have a list of what your account would have looked like if there had been no ppi, and a seperate list of what is owed to you, so when they do this, sometimes the account actually goes into credit, this is where the 8% comes into play.

BUT

The big one to worry about with a CC is the prevailing card rate and as many of us know can be up to 29.9%, this is where the big money is, some banks tried only giving back the ppi charge plus 8% instead of the actual interest rate charged through the history of the account.

Hope this helps:D Well done on your win too, looks quite good to me:D

It helps a lot thank you, i now understand it
Thank you:rotfl:

lisajaynec

smitchy73 wrote: »

Looks like an average of £21 per month ppi charge and a refund of approx £50 per month on the interest, so a total of £71 or thereabouts for each month paid not a bad little savings plan girl:D:j:j:beer::T:T

Thanks, I understand now, but am challenging it as they say I had the card from MAY 2001 and although I don't have any statements until August 2001 (I had a big sort out three years ago) in August 2001 my balance was 4,100. I know I like spending but I didn't do a balance transfer so think it stated before then.
I don't think a letter will hurt, especially as I have an account number that isn't mentioned (i put three account numbers in for refund although only one card but only 2 are mentioned in the reply)-think its worth a try
Lisa

chocha

I have a Tesco Personal Finance Visa. The account has been open since July '98, I filled in the questionaire to reclaim my PPI and got a response from Tesco Bank stating I have never had PPI with this account when my statements clearly state I have had PPI. I have since had a copy of my credit file and it states that the account is a RBS Tesco Visa. So my question is should I be contacting the Royal Bank of Scotland?

Many Thanks.

smitchy73

lisajaynec wrote: »

I had a loan with First Tricity National Finance only for £336 for an electric appliance through Scotish power using their charge card dating from May 1997. I sent the account number and a list of all the payments of £10 per month for 2 years , then I paid off the loan.
I sent a claim into santander with a copy of the paperwork i had, thanking me for taking out PPI, but no details of the amount of ppi added towards the balance.
I was turned down so sent it onto FLA including a loan from same place took out in 1995 refusing PPI and I have received a letter turning me down today stating that the amount of time since i used the account all data has been removed from the system.
Is there anything else I can do?
Any help gratefully received
Thanks
Lisa

Hi Lisa,
I had one similar for a cooker I bought for my current house, over ten years ago, found the paperwork the other night but decided against trying to claim for it, as I know they will probably just reject, it was for such a small amount though.
Did however find an old agreement for the RBS which I already have 5 ppi loan complaints in for I had 7 loans in total the first one is the one I found, didn't think it had it on, the loan was for £500 over 12 months and the ppi was for a whopping £46!!!!!!!!!!!! So i've send in a complaint about it, I am just missing the paperwork for loan no.2 loans 3-7 are the ones that are in just now, but they said loan no.2 didn't have ppi, strange how 1, then 3-7 all have it, why insist on me having it for all the others and not that one.:cool:

smitchy73

chocha wrote: »

I have a Tesco Personal Finance Visa. The account has been open since July '98, I filled in the questionaire to reclaim my PPI and got a response from Tesco Bank stating I have never had PPI with this account when my statements clearly state I have had PPI. I have since had a copy of my credit file and it states that the account is a RBS Tesco Visa. So my question is should I be contacting the Royal Bank of Scotland?

Many Thanks.

RBS supply tesco credit cards, but it is officially Tesco who your account is with.
If you have copies of statements etc showing the ppi charge, copy some of them and send them to them with a letter and make sure you send copies don't send the originals, sounds like a stalling tactic to see what you have on them.
Hope this helps:D

smitchy73

lisajaynec wrote: »

Thanks, I understand now, but am challenging it as they say I had the card from MAY 2001 and although I don't have any statements until August 2001 (I had a big sort out three years ago) in August 2001 my balance was 4,100. I know I like spending but I didn't do a balance transfer so think it stated before then.
I don't think a letter will hurt, especially as I have an account number that isn't mentioned (i put three account numbers in for refund although only one card but only 2 are mentioned in the reply)-think its worth a try
Lisa

Go for it girl, i'd definately question the third card number and take it from there. Very easy to spend £4k in a few months though, spend £5k in less than 5 minutes the other week(paying off a CC with our CB win!):D

weechicken

di3004 wrote: »

Hiya

Yes I would do that then too, something not right here and I would also add in any further information as the same time, about what happened here too, think you have them stumped, so good luck.;)

Hi di

I thought i'd give you an update on my littlewoods claim. They have sent letter saying they will pay back premiums paid £387.07 plus £43.62 to cover when account would have been in credit Should they also be paying 8% interest?

Thanks for your help again :A

smitchy73

Well if we think the banks are bad for the ppi, I went in to my HBOS branch this morning to pay in some coins I had saved up, I had £14 in coppers, and about £85 in silver(40 in pound coins) they actually refused to take it at first saying they had a limit of five bags, I stood arguing with the assistant that she was preventing me from depositing money into my bank, she got the manager who tried to tell me it was because they didn't have access to the safe on a Saturday, I just told him, thats not my fault, I just want to make a deposit to my account, they told me I had to do it with business banking, and I was like I can't do it there, I work from 7am until 5 pm, and my nearest branch to my work is a half hour walk away, they eventually gave in and took it, but I was effing raging!!!
Next time I have money to pay in for something or my mortgage I'm going to go and get £400 of one pence coins and take it in and pay to my account, see how they take to that!! bar stewards. I aint loosing 9% of my money to Coinstar!

Red_peppers

smitchy73 wrote: »

Well if we think the banks are bad for the ppi, I went in to my HBOS branch this morning to pay in some coins I had saved up, I had £14 in coppers, and about £85 in silver(40 in pound coins) they actually refused to take it at first saying they had a limit of five bags, I stood arguing with the assistant that she was preventing me from depositing money into my bank, she got the manager who tried to tell me it was because they didn't have access to the safe on a Saturday, I just told him, thats not my fault, I just want to make a deposit to my account, they told me I had to do it with business banking, and I was like I can't do it there, I work from 7am until 5 pm, and my nearest branch to my work is a half hour walk away, they eventually gave in and took it, but I was effing raging!!!
Next time I have money to pay in for something or my mortgage I'm going to go and get £400 of one pence coins and take it in and pay to my account, see how they take to that!! bar stewards. I aint loosing 9%
of my money to Coinstar!

Sorry but :rotfl::rotfl::rotfl:

The safe is entitled to a day off too you know!

amersall

can i "steal" certain parts of this for my next round with LTSB? l

Cheeky cheeky:p:p