PPI Reclaiming Discussion part 4

edited 10 June 2010 at 3:07PM in Reclaim PPI & Other Insurance
27K replies 2.2M views
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  • amersallamersall Forumite
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    dilus wrote: »
    Hi Andrew25000,
    Done a rough calculation and this sounds about right to me. From the refund of premium they quote you were paying £17.87 per month for PPI and you were only paying it for 8 months. You paid the loan off 8 months into a 204 month term and would have received a rebate of PPI at the time. I would be inclined to accept ;) Well done :)

    You are correct dilus, but i would be inclined to ask what the rebate figure was for the ppi when settled, i would not have thought the op got all the ppi taken back off, if this is right then there may have been some ppi paid back in the settlement figure?.
  • edited 26 February 2012 at 6:45PM
    harrpau7harrpau7 Forumite
    128 Posts
    edited 26 February 2012 at 6:45PM
    I hvae been reading a lot of posts here, and from reading some I get the impression that some form of interest is calculated up until the bank offer you a settlement, so if the loan was closed on say January 2007 and a bank offered you a settlement on January 2012 you get 5 years interest included in your final settlement, is that correct? Or am I reading posts wrong?
  • cappocappo Forumite
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    amersall wrote: »
    :D I am the youngest on here :p:p:p:p will not tell you the age of the rest of em ;);););)



    I am 175 next birthday.
  • dilusdilus Forumite
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    amersall wrote: »
    You are correct dilus, but i would be inclined to ask what the rebate figure was for the ppi when settled, i would not have thought the op got all the ppi taken back off, if this is right then there may have been some ppi paid back in the settlement figure?.

    Very true, never thought of that :o
    Successes
    Sainsbury's/BOS £6,400 Paid :)
    MBNA £3,600 Paid :)
  • amersallamersall Forumite
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    cappo wrote: »
    I am 175 next birthday.

    SHHHHH :p:p:p
  • amersallamersall Forumite
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    dilus wrote: »
    Very true, never thought of that :o

    The redress may be right as you say, but if it were me :D i would want proof positive :):)
  • dilusdilus Forumite
    1K Posts
    Hello to you all, Newbie here so please be kind. some advice if you nice people can,
    I sent away to the Halifax about a loan i had with them it was for £20000 secured, I had taken it out in December 2003 and payed it off in Aug 2004.
    It was for a 204 term
    At £211.11 per month.
    Any way my question is the i have had a letter from the Halifax saying as our final response,we are offering you a payment of £230.83.
    This is a refund of premiums of £142.98 and intrest at 8% of £87.85 calculated up to the 21 march.
    Am sorry i dont have how much i was paying in ppi each month, so can i ask all you nice people does this sound about right the refund i should be getting.Keep up all the good work we would get nowere with out people like your selfs.

    Hi andrew25000,
    Further to my calculation post, the general consensus is (and rightly so) see if you can contact them and get a full breakdown of the redress, you need to know how much rebate you got when you settled ;)
    Successes
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    MBNA £3,600 Paid :)
  • Hi all,

    Am after some advice. My father has engaged the services of a claims company to persue a loan he had some time ago with PPI. He paid an amount up front to them to do this, and after discussing cancellation with them they would retain most of this sum if we asked them to stop persuing the claim.

    When I found out I came straight to the forum and it would appear we could easily follow the self-claim process.

    What's the best approach? Would it do any harm to persue both avenues rather than cancel and lose the fee, or is that just going to cause problems for us?

    Thanks in advance.
  • cappocappo Forumite
    2.1K Posts
    jchaplin wrote: »
    Hi all,

    Am after some advice. My father has engaged the services of a claims company to persue a loan he had some time ago with PPI. He paid an amount up front to them to do this, and after discussing cancellation with them they would retain most of this sum if we asked them to stop persuing the claim.

    When I found out I came straight to the forum and it would appear we could easily follow the self-claim process.

    What's the best approach? Would it do any harm to persue both avenues rather than cancel and lose the fee, or is that just going to cause problems for us?

    Thanks in advance.



    Hi j, What a shame, now you've signed a contract there's no way out unfortunately you might as well let them do the work now as they'll charge you now if they make a recovery.
  • edited 26 February 2012 at 8:43PM
    [Deleted User][Deleted User] Forumite
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    edited 26 February 2012 at 8:43PM
    jchaplin wrote: »
    Am after some advice. My father has engaged the services of a claims company to persue a loan he had some time ago with PPI. He paid an amount up front to them to do this, and after discussing cancellation with them they would retain most of this sum if we asked them to stop persuing the claim.
    Do you mean that your father would lose only the amount he has paid "upfront" if he cancels his instruction to them?
    If this is the case, then it depends on how much you stand to gain from any win.
    If you stand to have even more taken then it's better to cancel and make the claim yourself. Remember, though, to factor in the possibility that the bank may not uphold the claim, in which case you'll have paid the claims company AND lost.

    As Cappo said, though, is it really likely your father will be able to cancel at all?:
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