PPI Reclaiming Discussion part 4

cappo

suzitiger wrote: »

Thanks amersall,
Only problem I have is that it was originally under g0ldfish but was taken over by Bcard. Do you think I will still be able to reclaim, even tho it was not bcard that mis-sold me the policy?

Sure you will suzi, i had similier, i had a morgan stanley card taken over by barclaycard i put in a claim they rejected it, i fossed it and they've offered to settle "as a gesture of goodwill" if you know you were misold stick with it

cappo

sorryitsme wrote: »

Today I have been informed MBNA will be refunding £1200 to me. :j
I initially contacted them in August and they refused my complaint saying I ticked the box, I emailed them to reconsider as I had a pre exsisting medical condition and they refused again, but said if I proved I had a pre exsisting medical condition the will reconsider. I promptly went to my DRs got a copy of my notes and emailed the CEO.....7 days later and UPHELD!!!!:j

Today I also found out I will be refunded £1509 from Barclays for PPI on a £2000 loan in 1998 (the PPI was £485 but 8% interest boosted payment).

I would like to thank Di3004 and Beamerguy for their help on the two emails I sent MBNA:beer:

DON'T GIVE UP THE FIGHT;)

Well done you:j:j:j:j:j:beer::beer::beer::beer::money::money::money:;););):D:D:cool::cool::T:T:T

beamerguy

Verytryingmummy wrote: »

Just received a letter from HSBC offering me £2233.43 :j

I just want to say a huge thank you for all that have helped me along the way I'm so happy I can't stop smiling - now to look for a holiday for next year :rotfl:

katiebbb

Also posted this on the Halifax thread but could really do with some expert guidance.....


Well, thought I would phone Halifax again this evening.... now 3 months since they upheld.
Wow – they have sent out some calculations today!!!! Hooray!!! I was told last week that people like me (ie people phoning up every week, sending snotty eMails to the CEO and generally harassing them because I have been WAITING SO LONG) would be paid by 15th December at the very latest.
Well, because they have now sent me a letter that deadline doesn’t apply anymore apparently and I revert to“receiving settlement within the next 30 days” You just couldn’t make it up. I am normally such a calm and placid little soul but they have slowly and steadily turned me into some kind of stress-ridden lunatic......
So, we moved onto the actual figures. Loan 1, was only active for 10 months back in 2002 and will be repaid as follows:

Premiums (incl of interest) £107.1
8% interest £72.64 (works out as £107.10 x 8% x 8 years and 10 months = CORRECT)

Loan 2:
Premiums (incl of interest) £1,754.02
8% interest £615.05
Loan has been running since Oct 2003 so basically 8 years .
On the same basis as Loan 1, and in accordance with all their examples in their upheld letter the interest should be: £1754 x 8% x 8 years = £ 1,122
I realise the method applied for Loan 1 and in their examples is more than they are required to pay but I am curious as to what others have received from the Halifax for their 8% payment....

Also can anyone confirm that the monthly ppi payments which incl interest do not have any impact on the balance of the loan and therefore the loan interest which I have paid?? The premiums show each month as a debit on my loan account statements but I assume they are removed for the purposes of their monthly interest charge calculations????

beamerguy

katiebbb wrote: »

Also posted this on the Halifax thread but could really do with some expert guidance.....


Well, thought I would phone Halifax again this evening.... now 3 months since they upheld.
Wow – they have sent out some calculations today!!!! Hooray!!! I was told last week that people like me (ie people phoning up every week, sending snotty eMails to the CEO and generally harassing them because I have been WAITING SO LONG) would be paid by 15th December at the very latest.
Well, because they have now sent me a letter that deadline doesn’t apply anymore apparently and I revert to“receiving settlement within the next 30 days” You just couldn’t make it up. I am normally such a calm and placid little soul but they have slowly and steadily turned me into some kind of stress-ridden lunatic......
So, we moved onto the actual figures. Loan 1, was only active for 10 months back in 2002 and will be repaid as follows:

Premiums (incl of interest) £107.1
8% interest £72.64 (works out as £107.10 x 8% x 8 years and 10 months = CORRECT)

Loan 2:
Premiums (incl of interest) £1,754.02
8% interest £615.05
Loan has been running since Oct 2003 so basically 8 years .
On the same basis as Loan 1, and in accordance with all their examples in their upheld letter the interest should be: £1754 x 8% x 8 years = £ 1,122
I realise the method applied for Loan 1 and in their examples is more than they are required to pay but I am curious as to what others have received from the Halifax for their 8% payment....

Also can anyone confirm that the monthly ppi payments which incl interest do not have any impact on the balance of the loan and therefore the loan interest which I have paid?? The premiums show each month as a debit on my loan account statements but I assume they are removed for the purposes of their monthly interest charge calculations????

Cannot believe that these idiots can actually say "I was told last week that people like me (ie people phoning up every week, sending snotty eMails to the CEO and generally harassing them because I have been WAITING SO LONG) would be paid by 15th December at the very latest."

FACT:
The CEO of Halifax/LTSB Never answered emails, went sick, because of stress .... Acting CEO, Tim Tookey, a completely useless bod who needs to be fired.
HALIFAX the bank that gives you XTRA ..... XTRA RUDENESS they mean

HOW RUDE CAN YOU GET ..... PEOPLE .... HARASS THESE IDIOTS EVERY DAY UNTIL YOU GET YOUR STOLEN MONEY BACK. THEY COMMITTED FRAUD, NEVER FORGET THAT.

And to answer your question, if your payments are up to date they can offset your claim and reduce your loan.

NEVER DEAL WITH THE HALIFAX, IF YOU DO, NEVER PURCHASE ANY INSURANCE FROM THEM, YOU CANNOT TRUST HALIFAX OR LTSB

katiebbb

beamerguy wrote: »

Cannot believe that these idiots can actually say "I was told last week that people like me (ie people phoning up every week, sending snotty eMails to the CEO and generally harassing them because I have been WAITING SO LONG) would be paid by 15th December at the very latest."

FACT:
The CEO of Halifax/LTSB Never answered emails, went sick, because of stress .... Acting CEO, Tim Tookey, a completely useless bod who needs to be fired.
HALIFAX the bank that gives you XTRA ..... XTRA RUDENESS they mean

HOW RUDE CAN YOU GET ..... PEOPLE .... HARASS THESE IDIOTS EVERY DAY UNTIL YOU GET YOUR STOLEN MONEY BACK. THEY COMMITTED FRAUD, NEVER FORGET THAT.

And to answer your question, if your payments are up to date they can offset your claim and reduce your loan.

NEVER DEAL WITH THE HALIFAX, IF YOU DO, NEVER PURCHASE ANY INSURANCE FROM THEM, YOU CANNOT TRUST HALIFAX OR LTSB

noted and agreed :mad: but I guess what I am really after is someone who has actually been paid by HFX and has their calculations to hand to be able to tell me how they have been calculating their 8% interest - is it on the total ppi + int *8%* yrs/mths since start date???

amersall

suzitiger wrote: »

Thanks amersall,
Only problem I have is that it was originally under g0ldfish but was taken over by Bcard. Do you think I will still be able to reclaim, even tho it was not bcard that mis-sold me the policy?

If you were mis sold,you have reasons to complain,regardless of who you originally had the card with.
Barclays will deal with this.

amersall

katiebbb wrote: »

Also posted this on the Halifax thread but could really do with some expert guidance.....


Well, thought I would phone Halifax again this evening.... now 3 months since they upheld.
Wow – they have sent out some calculations today!!!! Hooray!!! I was told last week that people like me (ie people phoning up every week, sending snotty eMails to the CEO and generally harassing them because I have been WAITING SO LONG) would be paid by 15th December at the very latest.
Well, because they have now sent me a letter that deadline doesn’t apply anymore apparently and I revert to“receiving settlement within the next 30 days” You just couldn’t make it up. I am normally such a calm and placid little soul but they have slowly and steadily turned me into some kind of stress-ridden lunatic......
So, we moved onto the actual figures. Loan 1, was only active for 10 months back in 2002 and will be repaid as follows:

Premiums (incl of interest) £107.1
8% interest £72.64 (works out as £107.10 x 8% x 8 years and 10 months = CORRECT)

Loan 2:
Premiums (incl of interest) £1,754.02
8% interest £615.05
Loan has been running since Oct 2003 so basically 8 years .
On the same basis as Loan 1, and in accordance with all their examples in their upheld letter the interest should be: £1754 x 8% x 8 years = £ 1,122
I realise the method applied for Loan 1 and in their examples is more than they are required to pay but I am curious as to what others have received from the Halifax for their 8% payment....

Also can anyone confirm that the monthly ppi payments which incl interest do not have any impact on the balance of the loan and therefore the loan interest which I have paid?? The premiums show each month as a debit on my loan account statements but I assume they are removed for the purposes of their monthly interest charge calculations????

The 8% is calculated on a monthly basis of the monthly ppi amount,look here http://www.moneysavingexpert.com/reclaim/bank-charges#step3
put the date month and year of each ppi monthly payment to the date of redress,the calcualtor keeps a running total,so you will know the redress and the 8% amount.
This 8% reduces the less time you have been deprived of this money,so as you put each months ppi payment in you can see what the 8% is for that month,and so on.

amersall

Also can anyone confirm that the monthly ppi payments which incl interest do not have any impact on the balance of the loan and therefore the loan interest which I have paid?? The premiums show each month as a debit on my loan account statements but I assume they are removed for the purposes of their monthly interest charge calculations????

The whole ppi is taken off the balance of the loan,if the loan is still running,they will reset this without ppi and your monthly payment goes down by the monthly ppi amount.
Your redress is paid with the 8% for the ppi you have paid,is this what you mean?.

You will get the redress to you,even if the loan is still running,my son and 2 of his mates did,they are well pleased.

MrsShazbat

Verytryingmummy wrote: »

I had this with Capital One they have deducted monies even though I paid through CapQuest and it should have been cleared I tried to discuss with Capital One but got nowhere it's now being dealt with through the Financial Ombudsman.

How long has your claim against Cap1 been with FOS?