PPI Reclaiming Discussion part 4

Shypaynd

:money: well thanks to Martin I contacted lloyds tsb ref a personal loan we took out 21 years ago I had no agreement number loan was for £2500 we were young needed a car were advised we can have loan if we took out ppi ... I wrote to the bank an have just had £1900 back orig premium and 21 years interest at 8%....martin we love you:)

beamerguy

I don't know about you guys, but I sense these banks are in serious trouble and the "fob offs" mean they actually do not have the money to pay everyone back

The fabrications they are all coming out with now is beyond belief

The FSA should have the guts to step in and fine banks who continue delaying tactics. If the fine is not paid, it should be allocated as government (tax payers) shares in the business.

THE BANKS ARE IN MORE TROUBLE THAN ANYONE COULD HAVE PREDICTED -- ALL DOWN TO THEIR OWN GREED

Further more, I predict that ..

That the RBS/Natwest will be 100% owned by the tax payer and a new CEO will replace Stephen Hester

That the tax payer will take an even bigger share in Lloyds Banking Group

That Capital One will default in the UK

That MBNA will cease trading in Europe

Joelliott74

Hi, Yes this is what they said to my huisband on the phone.. I guess they may have been trying to fob him off to get him off the phone... he is going to call them again tomorrow and ask them to clarify what they mean, and also get a definitive answer.

Thanks for your invaluable information.

beamerguy

Shypaynd wrote: »

:money: well thanks to Martin I contacted lloyds tsb ref a personal loan we took out 21 years ago I had no agreement number loan was for £2500 we were young needed a car were advised we can have loan if we took out ppi ... I wrote to the bank an have just had £1900 back orig premium and 21 years interest at 8%....martin we love you:)

FANTASTIC SUCCESS, WELL DONE, Tell all your friends about this site

juddy_4

Hi Thanks for the reply. Yes have just sent them a letter asking them to reconsider and giving them 14 days.
The frustrating thing is that i have paperwork that backs up the insurance was mis-sold and i sent them a copy of this with the original claim!!!

juddy_4

di3004 wrote: »

Hi and welcome

Have you asked them to reconsider?
Even on a final decision that been rejected they may reconsider, try giving more info if you can, tell them your not happy with being rejected with having a genuine complaint and asking they reconsider by 14 days, if you hear nothing or if they do not change the decision then complain to the FOS.
Good luck.;)

Hi di3004
Yes have sent them a letter and given them 14 days. If still no joy will take it further to FOS and hopefully justice will be done.
Will keep reading posts to get some tips, think i'm going to need them, lol

di3004

Rae115 wrote: »

hi di do the banks have to pay back contractual (i believe it is called ) interest that yearly ine of 29.9 % or is it just the 8%

Hiya

I assumed the 8% was the basic, not sure of the 29.9% but I'm sure someone will know for sure x;)

di3004

Little_Italy wrote: »

Hi,
Im a newbie here. I wonder if some of you old seasoned professionals can help me. Im waiting for paperwork to come through from the FSCS as Picture no longer exsist as I was mis-sold the PPI (various reasons - the same as everyone else I suppose). This is going to sound horrendous but at the time consolidating debts etc was the best thing to do. I took a loan out in June 2006 for £43,000 with the PPI totally approx @ £10,900. The monthly repayments including PPI to date is £434 per month, I am 5 years 4 months through the 25 year loan period and have received rebates totalling approx £5000 during this time. The PPI runs out on the 5th year. Can someone please help me to estimate what the likelhood of getting a refund back or compensation regarding this. Help appreciated! Thanks.

Hiya

In my personal opinion you have a good chance, for a start these type of policies are now frowned upon and they are costly, and besides they only protect for the first 5 years of the loan where you would still be paying for the ppi for the life term of the loan, and its unlikely they explained the full cost to you.
They are a rip off, good luck.;)

di3004

kevkim7 wrote: »

Hi sorry but i am confused i have had rolling loans from Abbey National/Abbey/Santander do i just put in my letter the latest account number or all of them and can i ask Santander to look at my past loans? Also anyone have success with ppi claims on Egg Credit card cheers

Hi there

If mis sold on all the ppi on all the loans then I would enclose all your account numbers, if mis sold for the same reasons then one reclaim questionnaire is fine and to enclose all account numbers that apply, but if reasons differ keep them separate from each other, or complete separately just in case if you want to, good luck.

This way you will be sure they will deal with them individually, even though they are expected to look through past accounts, they may not automatically do so.

Reclaim questionnaire step 3 below.
Keep copies for yourself as well.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

moneyangel22

moneyangel22 wrote: »

Niggly wrote: »

Hi Niggly,

I have had my offer from Lloyds finally, however, I am confused as the figures in the breakdown dont look anything like yours!

Can you have a look at this and tell me what you think please?!!
:-)

Loan 1:
Refund of premiums £764.82
Interest at 8% to 31st October £364.35
Total refund £1129.17

Loan 2:
Refund of premiums £759.07
Interest at 8% to 31st October £336.89
Excess balance* £160.25
Total refund £1256.21

Loan 3: (They told me I did not have PPI on this!! I cancelled it when I wised up so think they were trying to pull a fast one!)
Excess balance* £996.58
Interest at 8% to 31st October £163.28
Total refund £1159.86

*Excess balance is an additional payment we offer to refund the extra amount you paid when you refinanced the loan/PPI which we are offering to refund. As your earlier loan included PPI the outstanding balance on that loan, which you carried over to the next loan, was higher than it would have been without PPI and therefore you paid a higher payment and more interest when making your repayments on the next loan. Our offer of the excess balance is a refund of the extra amounts paid by you with associated interest.


Please help!!

Thanks!! :-) :-) :-)

Hi everyone,

Thanks for the offers to have a look at my figures. Details of Niggly's calcs and Lloyds offer are above. I'm a tad confused!

Many thanks! :-)