PPI Reclaiming Discussion part 4

amersall

Starr wrote: »

Hi

I got exactly the same letter from RBS about the £750 goodwill gesture!! Must admit I'm tempted to 'take the money & run'
I calculated that I would receive approx £1750. They did exactly the same with me at 8 weeks they needed more info and then said that I was not entitled. I was beginning to doubt that I was entitled to anything before I got a response as even though it was a single policy, it was clearly shown seperately. When I cancelled the insurance nearly a year ago, the payments did not decrease to the main loan repayment (still paying an extra £15) when I complained they said that it was because i'd paid the bulk of the insurance up front.

if i were you i would go for the whole lot, let rbs know you are not happy and ask them to reconsider let them know you are going to fos, they will hope as times are lean for us all that we will accept any small crumb they will offer us, if they are not at fault why are they offering a goodwill gesture? you need to show them you mean buisness, good luck with whatever you decide to do. by the way if you win they have to pay you 8% interest on top, and your loan payment will go down, they have to put you in the position you were before the ppi was added

ruthb1

Hi,

I need a bit of advice, we received a letter from A&L a couple of weeks ago stating that we may be able to claim ppi from them from a loan we took out in 2006, the loan was for £6000 and payment was 144 a month for 5 years. we paid this off within 8 months and thought no more about it.

when we received the letter from them my husband called them nd filed a claim, they have just written back today and offered us £530 as a goodwill gesture.

do we accept this or not, do you think if i refused we would be entitled to more. we have 28 days to respond. sorry to sound so vague but i dont really know much about reclaiming ppi.


thanks any help would be really appreciated


ruth

di3004

ruthb1 wrote: »

Hi,

I need a bit of advice, we received a letter from A&L a couple of weeks ago stating that we may be able to claim ppi from them from a loan we took out in 2006, the loan was for £6000 and payment was 144 a month for 5 years. we paid this off within 8 months and thought no more about it.

when we received the letter from them my husband called them nd filed a claim, they have just written back today and offered us £530 as a goodwill gesture.

do we accept this or not, do you think if i refused we would be entitled to more. we have 28 days to respond. sorry to sound so vague but i dont really know much about reclaiming ppi.


thanks any help would be really appreciated


ruth

Hi Ruth

You have received the letter that most A&L customers who have taken a loan out with them over the last few years, this way, they only seem to offer goodwill payments.

Personally if there is a big difference in the amounts I would ask them if they could higher the amounts, and if they don't let them know you will consider the financial ombudsman service (FOS) to investigate.

Also ask them for a full written breakdown of when you paid off the loan, and this should show the amounts of PPI plus the interest involved that you should be entitled to and the extra 8% interest of what a court would award.;)

Good luck.

di3004

Ruth, you can actually use the guidelines of the link below for PPI reclaiming if you want to, although you have already started the claim, did you write back with reasons or was it a questionaire?

These questionaires are also standard they send out and they investigate from them to what I know of, but if you feel you have more reason to reclaim for the full whack plus the interest of the PPI, write to them, or just get back to them and tell them your not happy with the amount and would appreciate a higher offer or the whole amount of the PPI plus the interest etc, or you will move on to the FOS. (That's if you want to go that direction).

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

ruthb1

thanks for your replies.

on the letter that they have sent they have broken it down:-

a total monthly premiums from date until loan was repaid £187 20

b) rebate adjustment £237.40

c) total refund a +b = £424.60

d) interest on toal refund payable until 31 may 2009 106.27

e) total c +d £530.87

so would i still be entitled to further interest or do you think i am wasting my time


thanks again

showergirl

Hi everyone

Can anyone give me some advice.

My friend at work sent a letter off to A and L, to claim her ppi off her credit card. She has received a letter back saying they have passed it on to MBNA who deal with the credit cards. Is this correct and has anyone had any success from MBNA.

I may not get back on tonight but if anyone could give any advice I will log on tomorrow.

Hope everyone is well

EllBee

jadest wrote: »

So sorry to hear it is taking so long... I know my claim has only just been up-held by the adjudicator 6 weeks ago but mine to has been with FOS a year. I emailed the Adjudicator today and he said I had still not been assigned a Ombudsman due to the so many claims and the pending back log...

He said that in the mean time I could contact him should I need to.

Sounds like I am up for yet another long wait too. In the mean time I bet Loans.co.uk are happy they don't have to pay out yet. Wouldn't suprise me if they don't go bankrupt whilest we are wiating thats what happened to another claim I had against Scottish London, (with that case after 1 year of waiting for FOS to make decission it then got passed to FSCS who have also now had info nearly 6 months and still no were near coming to decission...And when I tried to claim Bank Charges they put claims on hold just has mine went to Court- and still waiting 3years and 6months down the line.... Think I give up hoping to recieve anything back as I neverhave much luck).

And they make out claiming back these charges are easy...

Anyway thats my moan for today...

Good luck to you EllBee:rotfl::rotfl::A:A

Hi Jadest,

I know exactly how you feel!!! I have a fear that Loans.co.uk will go bankrupt too, just to avoid paying out! You sound as lucky as me although I did claim against NatWest/Royal Bank of Scotland and got just under £3,000 back without too much hassle. :j More or less paid off a massive overdraft!! I was very surprised because I'm generally not very lucky and expected a fight with them! I want to put in a claim for bank charges too, but haven't got round to it yet. I think once I hear about my PPI claim against Loans.co.uk I'll go for it.

I can't believe your case hasn't been passed to an Ombudsman yet. You'd think the FOS would take on more staff to deal with all these claims and charge the companies we're claiming against a huge fee if they're found to have mis-sold PPIs. It might speed things up a bit if the companies had to fork out more money!!! I hope your case gets passed on soon and sorted out a.s.a.p. but in the meantime it does look like you may have a long wait. As soon as I hear anything positive I'll post on here and let everyone know!!!! Don't hold your breath though, could still be a long wait. :eek:

Good luck.

jadest

EllBee wrote: »

Hi Jadest,

I know exactly how you feel!!! I have a fear that Loans.co.uk will go bankrupt too, just to avoid paying out! You sound as lucky as me although I did claim against NatWest/Royal Bank of Scotland and got just under £3,000 back without too much hassle. :j More or less paid off a massive overdraft!! I was very surprised because I'm generally not very lucky and expected a fight with them! I want to put in a claim for bank charges too, but haven't got round to it yet. I think once I hear about my PPI claim against Loans.co.uk I'll go for it.

I can't believe your case hasn't been passed to an Ombudsman yet. You'd think the FOS would take on more staff to deal with all these claims and charge the companies we're claiming against a huge fee if they're found to have mis-sold PPIs. It might speed things up a bit if the companies had to fork out more money!!! I hope your case gets passed on soon and sorted out a.s.a.p. but in the meantime it does look like you may have a long wait. As soon as I hear anything positive I'll post on here and let everyone know!!!! Don't hold your breath though, could still be a long wait. :eek:

Good luck.

Thank you EllBee for all your help and support it helps just to know that someone else has been going through simular to me... Hope you have success very soon...
Good-luck

amersall

ruthb1 wrote: »

thanks for your replies.

on the letter that they have sent they have broken it down:-

a total monthly premiums from date until loan was repaid £187 20

b) rebate adjustment £237.40

c) total refund a +b = £424.60

d) interest on toal refund payable until 31 may 2009 106.27

e) total c +d £530.87

so would i still be entitled to further interest or do you think i am wasting my time


thanks again

i am not 100% but if you repaid the loan after 8 months you would only have made 8 ppi payments and 8 loan repayments, if you dont mind me asking what was the settlement figure you got when you repaid the loan, and what was the ppi amount on the original loan, as the figure you have could be right, but i am not too sure, as when you repay a loan in the early years you do not get much of a rebate of interest, but if your loan was 144 a month and you paid 8 months, how do they get 187?

maxdp

amersall wrote: »

i am not 100% but if you repaid the loan after 8 months you would only have made 8 ppi payments and 8 loan repayments, if you dont mind me asking what was the settlement figure you got when you repaid the loan, and what was the ppi amount on the original loan, as the figure you have could be right, but i am not too sure, as when you repay a loan in the early years you do not get much of a rebate of interest, but if your loan was 144 a month and you paid 8 months, how do they get 187?

Hi Amersall

Hope you OK long time no speak:j