PPI Reclaiming Discussion part 4

amersall

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?.

harrpau7

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?

cappo

amersall wrote: »

I am the youngest on here :p:p:p will not tell you the age of the rest of em ;););)

I am 175 next birthday.

dilus

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

amersall

cappo wrote: »

I am 175 next birthday.

SHHHHH :p:p

amersall

dilus wrote: »

Very true, never thought of that

The redress may be right as you say, but if it were me i would want proof positive :)

dilus

andrew25000 wrote: »

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

jchaplin

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.

cappo

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.

[Deleted User]

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?: