PPI Reclaiming Discussion part 4

wendyhouse1968

Hi

I decided to try and reclaim old PPI after success with my mortgage exit fees last year thanks to MSE.

I had two old loan agreements with Dell and DFS which stated I had ppi so I sent off the FSA claim forms and copies of the agreements on 7 Jan. I have had no response to either.

I obtained copies of my Experian Report and sent off letters with requests for my agreements and cheque for £1 to MBNA, Argos, Egg and British Gas.

MBNA responded with a copy of the Agreement, it must have been submitted over their phone as there is an "X" where my signature is and the PPI box is unmarked so I am assuming there is nothing further to do on this?

With regard to Egg, they responded requesting updated address details which I provided. Today the wrote to say under Section 78(3) of the CSA under section 78(1) they don't have to provide me with a copy of the credit agreement. I looked on the forums and I am going to send a SAR letter in response to this.

I haven't received any response from the other companies.

Co-incidentally I received a letter from Northern Rock today asking if I wanted to claim on the loan I have with them. I actually had PPI on it and a couple of years ago I claimed and they re-jigged my payments and gave me a refund of the PPI I had paid. Can I claim again?

Sorry its a long post but I do appreciate your valuable advice.

Wendy

Metoyou

Hi Guys,

Me again back for some advice from you knowledgeable people. Here goes ...

Barclays (was Egg CC) - sent off questionnaire on 1 November 2011. Received a letter back 8 November saying there were investigating and would get back to me by 29 December. Got another letter from them dated 29 December (actually received 10 January) with an update saying the were still investigating and would provide a response shortly or if I was unhappy I could go to FOS. After posting on here and receiving advice decided to wait it out for a few weeks. I have today received a letter dated 26 January upholding my claim (YIPEEEEE!!!!!). Now this is where I need your advice. The breakdown they give me is as follows:

Refund of payments made by you for CRP cover - £1057.82
Refund of interest charged on CRP premiums - £438.14
8% simple interest charge on CRP premiums - £146.23
Total - £1642.19

Although I am more than pleased with this I am a little concered as don't really understand the calculations. I had an earlier claim upheld with MBNA in November last year with the following calculations:

Total amount of PPI premiums charged since sale date -£1451.79
Total amount of interest associated with the PPI premiums - £1829.62
Total amount of 8% interest - £64.99
Total - £3346.40

Can someone explain the difference to me if possible. The difficulty is I do not have any statements for EGG (they were all on line) BUT I do have a copy of my original agreement with EGG going back to April 2003 where I clearly did not tick the box. Over the course of having the card I have had various balances ranging from £1,000 to £4,000 and sometimes very little balance at all.

Sorry if this has turned into an essay...

Metoyou

lisajaynec

lisajaynec wrote: »

Hi All
Post this morning brought a letter from Financial Ombudsman to say that Yorkshire Bank have agreed to pay me for miss sold PPI. I have to sign a form and send it back before Yorkshire will send me the redress figures-Don't think that this is right as I'm agreeing to accept an amount which hasn't been disclosed
Can anyone assist with figure please

Loan amount £1808.57, this was including a one off up front PPI amount of £208.57
The loan was took out in July 1995
Thanks in advance
Lisa

Can anyone help with calculations of the above loan ppi please

dilus

Metoyou wrote: »

Hi Guys,

Me again back for some advice from you knowledgeable people. Here goes ...

Barclays (was Egg CC) - sent off questionnaire on 1 November 2011. Received a letter back 8 November saying there were investigating and would get back to me by 29 December. Got another letter from them dated 29 December (actually received 10 January) with an update saying the were still investigating and would provide a response shortly or if I was unhappy I could go to FOS. After posting on here and receiving advice decided to wait it out for a few weeks. I have today received a letter dated 26 January upholding my claim (YIPEEEEE!!!!!). Now this is where I need your advice. The breakdown they give me is as follows:

Refund of payments made by you for CRP cover - £1057.82
Refund of interest charged on CRP premiums - £438.14
8% simple interest charge on CRP premiums - £146.23
Total - £1642.19

Although I am more than pleased with this I am a little concered as don't really understand the calculations. I had an earlier claim upheld with MBNA in November last year with the following calculations:

Total amount of PPI premiums charged since sale date -£1451.79
Total amount of interest associated with the PPI premiums - £1829.62
Total amount of 8% interest - £64.99
Total - £3346.40

Can someone explain the difference to me if possible. The difficulty is I do not have any statements for EGG (they were all on line) BUT I do have a copy of my original agreement with EGG going back to April 2003 where I clearly did not tick the box. Over the course of having the card I have had various balances ranging from £1,000 to £4,000 and sometimes very little balance at all.

Sorry if this has turned into an essay...

Metoyou

Hi Metoyou,
Credit card redress is very difficult to calculate as you only get 8% standard interest when the balance is in credit.
Although there is only a difference of £400 in payments between the two it doesn't mean that the final figures should be similar, it is down to how many times the card was in credit, the outstanding balances on the cards and the length of time the cards have been in use. I'm afraid you have to trust the banks when it comes to calculating credit card redress, as they are quite often the only people with all the statements to work from.

dilus

lisajaynec wrote: »

Can anyone help with calculations of the above loan ppi please

Hi lisajaynec,
The total figure will not be much more than the £208.57, I would hazard a guess at £220. Not a huge amount but a WIN :T and it's better in your pocket than theirs

amersall

monstermuncher wrote: »

Thank you very much for your help.

The broker was Central Capital, I rang them last night and did the claim over the phone. He said they'd write to me in 7 days, and send a decision in 12 weeks.

From my googling they appear to be very difficult about it. I'm am 100% sure that my claim is valid, and almost as sure that they're going to obstruct me in every say :eek:

I've reclaimed bank charges before, and while I do feel they're horrendously priced, I know on some level that if I'd managed my money better I woudln't have got them. If I'd been rejected out of hand, I would have been disappointed but not furious. For this loan, I was specifically told it was essential to take out the PPI. I can't believe they did something so underhand (extortionate charges are one thing, but out and out lying is something else) and I'm so angry I want a decision in my favour ASAP, for the justice of it rather than just the money!

Good luck with this,this is a win.
Did you tell them this was a loan on a loan with interest to term end,that the ppi only covered you for a few years,yet the loan ran longer,were you offered the ppi back after a few years but were not told the ppi would still be on the loan to term end?.
These are reasons for mis sell with this loan.
I could not reply sooner to you,sorry!,otherwise i would have given you the reasons to use,if you get a "get lost" in response,the reasons above are what you use.

They now only have 8 weeks to give you a final response to you,dont let it go over this.

amersall

gspo13 wrote: »

Hi everyone.

I have finally got round to looking into the PPI I believe was misold to me. 4 years ago i took out a finance agreement to buy a car with Arnold Clark who used GE Money as the lender. I had mentioned to him that i was desperate for a car and found one that i liked. I was told i would not be accepted for the loan unless i had the loan protected, so as i was desperate, i just said 'right ok, i guess i will have to take it.'

i think he knew i was desperate so played me the 'do or die' strategy.
Anyway, during that year i started using my intenet banking a bit more and noticed something i had not come accross before. A payment for £9 ish. i found out that it was a seperate protection payment. during the agreement Santandar sent me a letter saying that they now took over GE money.

So, my first question is do i have a case, and my second question is who should i write to? (arnold clark, GE money (if they have an address) or santandar). has anyone come across this before?

any advice would be great!

many thanks

gspo13

If you have reasons for mis sell
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

Then put a claim into the dealer in the first instance.

amersall

JK41 wrote: »

Thanks, but...

What i mean is between 2005-2011 there was a period, maybe 6 months maybe a year, when i paid no PPI as there was no balance on my C Card.
I only paid PPI when there was a balance on my card.
However between 1992-2005 there was a balance.
If they had looked at every year rather than just using 2005-2011 to work out an average for 1992-2011 then the amount i contributed might be more.
If i get a SAR will i be able to work iy out myself.

Sorry for so many questions.
Also how do i go about getting a SAR?

If you do a SAR,this may throw up some statements,there is a chance that they wont be for the years you need.

https://forums.moneysavingexpert.com/discussion/1475553
Fill the form in and enclose £10,give them 40 days to respond.

Banks will only go back 6 years for cc ppi if you have no proof of ppi paid before this,if accept the offer they have given you then put it in writing that if you find further info regarding the previous years ppi,then you would like this claim to be looked at also.

amersall

cindanooni wrote: »

Hi,

I am very new to this, I wondered if it might be worth a chance?! If anyone can help, I would be grateful.

3 years ago, my partner took out finance for a car. At the time and since he was self emplyed and made the company aware of this. However recently (whilst i have been checking accounts) I have noticed a payment leaving monthly for just under 20.00pcm.

On investigation. this is a protection plan sold with the car finance.
But, the payment is seperate to "pinnacle insurance" it is not inclusive with the car loan.

The car loan was paid off 2 years ago. However this insurance policy has contuinued to run.

I believe he should not have been sold it as the conditions of self employment did not cover him anyway, also how can he have been paying insurance on a finance plan which ceased 2 years ago.

Do you think we have grounds to claim?

Thanks

You need to find out what this insurance covers,it may be GAP? this covers the car in case it is written off,if you no longer have the car this is useless to you.Also,check what you were insured for with Pinnacle,this may have been miss sold too.

If you think you were mis sold this insurance then put a claim in,self employment is one reason.
Look here for others.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

amersall

monstermuncher wrote: »

I've remembered a massive argument we had with Halifax years ago.

We opened a current account and signed up for their switch service thing, but they didn't ever do it so we just forgot about that and then carried on using our normal account.

Then we started to get letters stating that we were overdrawn, which was interesting on an account that had never been used. There had been a direct debit for Halifax insurance. We had obviously never authorised the direct debit, because we didn't use that account. Now I'm wondering what that insurance was for. Do you think it's worth spending a tenner for an SAR on what may, or may not be a valid claim? My guess is that it was PPI on the mortgage, but I think that's usually very hard to claim back, isn't it?

I think that if we didn't authorise the direct debit, there's a chance we didn't ask for the policy, either.

Do a SAR,you never know what it will throw up.