PPI Reclaiming Discussion part 4

6470phil

Only joined moneysavingexpert forums today and this is my first post!

I was just wondering about my loan. I have had it for six months and have claimed on ppi. if succsessful just exactly what will i recieve? will they write off the ppi from now or after the result and what will actually be entitled to? sorry to sound daft but i have no idea i was just told i had to take the ppi to have the loan with rbs? Please help

Turboman

annmacdonald wrote: »

The settlement letter said:

Total amount payable under the Agreement £96,332.71
Less our rebate on early settlement -£35,498.07
Plus administration charge £ 150.00
Total amount payable by you to settle £60,984.64

See you've got a settlement this month

But--whats the £55,000 mentioned as original settlement-as its quoted as £60,984.64 above

As asked on successes thread-can you post up the detailed words & sums from original settlement letter & new offer-so we can understand a bit more on how they are working nowadays

Turbo

jjwhittle1981

HI all,

Just got a letter from the FOS stating that capital one would like to offer me full and final settlement on my PPI for the credit card plus 8% interest but it didnt state a figure. I then rang them and they said that capital one hadnt worked out how much it is yet and that it would only be worked out once i had acepted the settlement without knowing how much it is for.
Can they do this?

Any help would be wonderful.

amersall

stereo_mike wrote: »

The FOS is a unique bread of establishment. The first thing I would state is in the view of the FOS there is no such thing as a case president, therefore what happend with one of you claims may not happen with the other.

I would also ask how have you been mis-sold if you got the card online, it would have been up to yourself to check your eligability for the product, unless you are statign it was a pre-ticked box??

i won mis sell on a card and a loan that were done online, the company tried to say i had the paperwork and i shouldnt have signed if i did not agree with it. the fos upheld my claims because as a consumer i did not have enough knowledge to know the ins and outs of payment protection

di3004

6470phil wrote: »

Only joined moneysavingexpert forums today and this is my first post!

I was just wondering about my loan. I have had it for six months and have claimed on ppi. if succsessful just exactly what will i recieve? will they write off the ppi from now or after the result and what will actually be entitled to? sorry to sound daft but i have no idea i was just told i had to take the ppi to have the loan with rbs? Please help

Hi there and welcome.

I take it you mean you have a letter of reclaiming in regards of being mis sold PPI?

If successful you should receive all you have paid in PPI plus interest and if you cancel the PPI, there should be no further PPI added on your loan.

Have you cancelled the PPI yet, if not then check the terms and conds of this, and if worthless to you anyway, then cancel this.

Have you adequate cover just in case the unfortunate did happen, you can purchase stand alone protection, check the link out here and make sure they are to meet your requirements, for sickness and unemployment.
http://www.moneysavingexpert.com/insurance/cheap-loan-insurance
Some ideas on the link for you.

Good luck and for any further help just ask away.;)

amersall

6470phil wrote: »

Only joined moneysavingexpert forums today and this is my first post!

I was just wondering about my loan. I have had it for six months and have claimed on ppi. if succsessful just exactly what will i recieve? will they write off the ppi from now or after the result and what will actually be entitled to? sorry to sound daft but i have no idea i was just told i had to take the ppi to have the loan with rbs? Please help

hi there well done on your win. the ppi amount is taken off your loan ,the loan is recalculated without the ppi, as they have to put you in the position you were before the ppi was added. you will recieve back all the ppi payments you have made to date with 8% interest on that amount

di3004

jjwhittle1981 wrote: »

HI all,

Just got a letter from the FOS stating that capital one would like to offer me full and final settlement on my PPI for the credit card plus 8% interest but it didnt state a figure. I then rang them and they said that capital one hadnt worked out how much it is yet and that it would only be worked out once i had acepted the settlement without knowing how much it is for.
Can they do this?

Any help would be wonderful.

Hi there
And well done.:beer:

I am no good at calculations, but Turbo and Marshallka are, however there is a link here that Maxdp posted which may help.;)
http://forums.moneysavingexpert.com/showthread.html?t=1596473

showergirl

jjwhittle1981 wrote: »

HI all,

Just got a letter from the FOS stating that capital one would like to offer me full and final settlement on my PPI for the credit card plus 8% interest but it didnt state a figure. I then rang them and they said that capital one hadnt worked out how much it is yet and that it would only be worked out once i had acepted the settlement without knowing how much it is for.
Can they do this?

Any help would be wonderful.

Well done on your win

6470phil

I have passed the details on to a claim company who do all the bits for me which is fine because im not very good with stuff like this so dont mind paying if i win.

I recieved my first letter from rbs a week ago saying they were looking into it. So you think i sould cancel the ppi now even though the claim has started?

marshallka

6470phil wrote: »

I have passed the details on to a claim company who do all the bits for me which is fine because im not very good with stuff like this so dont mind paying if i win.

I recieved my first letter from rbs a week ago saying they were looking into it. So you think i sould cancel the ppi now even though the claim has started?

Do you need any PPI though or are you covered elsewhere? Sometimes its hard financially to take out another one when you are paying the first one although another one would most probably be half the cost. The other thing is if this was a single premium they often have to redo the loan and its very little difference you would see in the repayments. Its up to you and your circumstances.