PPI Reclaiming Discussion part 4

di3004

bumpy167 wrote: »

Thank you for your response. The PPI cost was £5k + interest so quite a bit more than the offer of £1600 that I received.

I only sent my form to the FOS on Friday which is the same day that I recieved the letter from Lloyds and I imagine it will take a little while for them to process it.

I think that in the meantime I will write to Lloyds to ask them to up the offer and see what happens.

Thanks for your advice!!!

Good luck and blimey what a difference.......:eek:, they have definately offered a low one then haven't they?

Like I said though its your choice and depends if your happy or not with this.
If that were me in this situation I would try for the whole whack and interest.;)

You always have the FOS to fall back on as you already have the complaint sent to them.
Fingers crossed, please keep us posted.;)

marshallka

bumpy167 wrote: »

Thank you for your response. The PPI cost was £5k + interest so quite a bit more than the offer of £1600 that I received.

I only sent my form to the FOS on Friday which is the same day that I recieved the letter from Lloyds and I imagine it will take a little while for them to process it.

I think that in the meantime I will write to Lloyds to ask them to up the offer and see what happens.

Thanks for your advice!!!

Did you let FOS know about this offer then before you posted your letter?

I would also let them know as it may be a quickie with them as they have already made an offer. FOS tends to get these cases through quicker I think.

bumpy167

Thanks marshallka - I only received the letter from Lloyds after I had posted the form to the FOS so have not yet let them know about the offer. I have decided that I am going to write to Lloyds to ask them to up the offer and will send a copy of this and the Lloyds offer letter to the FOS. Hopefully one way or another I will get a good result.

Fingers crossed and I will keep you posted!!

blastermaster

Hi, another Lurker here! Apologies if i'm in the wrong place but 2 bits of good news to add the list,

£141 to HFC for PPI on a loan for a suite through DFS, interest free but not PPI free! Didn’t have to go to the FOS for that one all it took was a whinge to the salesman from HFC who had the misfortune to cold call me that day and a short wait.

Secondly just over £1500 + interest from First Direct for PPI on a Credit card, had to wait a year for that one as it went through the FOS. My issue with both was that I am self employed and with the CC I didn’t realise at the time that it was optional and with the HFC they just added it to the price of the suite!

But I do have a slight problem though hence me being on this thread, namely with the interest returned with the card, first I had a letter from the FOS saying they upheld my claim, blah, blah, then about 3 weeks later I had a letter from FD saying we are going to pay you back (numbers approx) £1500 + £300 for interest charged + wait for it……………. £20 8% compensation! So I duly queried this with the FOS, they spoke to FD who said oops we got it the wrong way round, “the £20 is the interest charged on the premiums” Now I’ve had the card for nearly 6 years, always had a debt on it, hence the high PPI which on average was around £30 - £50 per month, and I know how they have come to this figure as they’ve sent me the calculations, basically they are paying me the bit in between me being charged for the PPI and then me paying the monthly fee.

Is this correct and is it what other people have got back? Only it seems a little unfair to me as A: I might have been able to pay the debt off a lot quicker if I wasn’t being overcharged for it and B: I had to pay around £60 per month for a year on the debt while I waited for the FOS!

Hopefully someone can help me with this, I would prefer a little more ammunition before I refer this back to the FOS!

Many thanks to Martin for bringing this to my attention!

di3004

blastermaster wrote: »

Hi, another Lurker here! Apologies if i'm in the wrong place but 2 bits of good news to add the list,

£141 to HFC for PPI on a loan for a suite through DFS, interest free but not PPI free! Didn’t have to go to the FOS for that one all it took was a whinge to the salesman from HFC who had the misfortune to cold call me that day and a short wait.

Secondly just over £1500 + interest from First Direct for PPI on a Credit card, had to wait a year for that one as it went through the FOS. My issue with both was that I am self employed and with the CC I didn’t realise at the time that it was optional and with the HFC they just added it to the price of the suite!

But I do have a slight problem though hence me being on this thread, namely with the interest returned with the card, first I had a letter from the FOS saying they upheld my claim, blah, blah, then about 3 weeks later I had a letter from FD saying we are going to pay you back (numbers approx) £1500 + £300 for interest charged + wait for it……………. £20 8% compensation! So I duly queried this with the FOS, they spoke to FD who said oops we got it the wrong way round, “the £20 is the interest charged on the premiums” Now I’ve had the card for nearly 6 years, always had a debt on it, hence the high PPI which on average was around £30 - £50 per month, and I know how they have come to this figure as they’ve sent me the calculations, basically they are paying me the bit in between me being charged for the PPI and then me paying the monthly fee.

Is this correct and is it what other people have got back? Only it seems a little unfair to me as A: I might have been able to pay the debt off a lot quicker if I wasn’t being overcharged for it and B: I had to pay around £60 per month for a year on the debt while I waited for the FOS!

Hopefully someone can help me with this, I would prefer a little more ammunition before I refer this back to the FOS!

Many thanks to Martin for bringing this to my attention!

Hi there

Well done on your success.:beer::T:beer:

Now in regards of calculations I am sorry but I have not got a clue, but I do understand now that the FOS expect them to provide you with the full written breakdown of calculations.
To give you more of an idea there is a thread below that Maxdp originally posted in regards of how the FOS work out the calculations..here.......
http://forums.moneysavingexpert.com/...html?t=1596473

And hopefully someone will come along soon with some info on this for you.;)

busbyh

di3004 wrote: »

Hi there

Well done on your success.:beer::T:beer:

Now in regards of calculations I am sorry but I have not got a clue, but I do understand now that the FOS expect them to provide you with the full written breakdown of calculations.
To give you more of an idea there is a thread below that Maxdp originally posted in regards of how the FOS work out the calculations..here.......
http://forums.moneysavingexpert.com/...html?t=1596473

And hopefully someone will come along soon with some info on this for you.;)

Di Help!!
I only appear to be able to reply to a post. I want to post a new one but each time I submit reply I lose it
Many thanks
busbyhxx

di3004

busbyh wrote: »

Di Help!!
I only appear to be able to reply to a post. I want to post a new one but each time I submit reply I lose it
Many thanks
busbyhxx

Hi hun

Oh dear now that is odd, technology wise I do not know, but you can email on the above right hand side/top of this page "email for tech problems" or this here:
[EMAIL="Webmaster@moneysavingexpert.com"]Webmaster@moneysavingexpert.com[/EMAIL]
Explain your problems you having with this to them hun, good luck, shall look out for your posts.;)XX

hulahoopsrule

Welcome Finance - Hi everyone!! Just to keep you guys in the loop, i faxed them a second letter as they misplaced the recorded delivery one. I got a final response saying no can do so just posted my form and docs to the FOS today. Not sure what they will say as the 2 loans were pre 2005 but we shall see. Is it worth me sending a quick letter/fax to Welcome saying for your info I have submitted a complaint to the FOS or shall I leave it?
HulaHoops

di3004

hulahoopsrule wrote: »

Welcome Finance - Hi everyone!! Just to keep you guys in the loop, i faxed them a second letter as they misplaced the recorded delivery one. I got a final response saying no can do so just posted my form and docs to the FOS today. Not sure what they will say as the 2 loans were pre 2005 but we shall see. Is it worth me sending a quick letter/fax to Welcome saying for your info I have submitted a complaint to the FOS or shall I leave it?
HulaHoops

Hi Hulahoops (yum love those crispy snacks) lol :D.

I think they were regulated 2003 or maybe 2004 anyway, sure someone will confirm, so good luck with these cases.;)

Some do make them aware they have done this and it has been known that they change their minds as well, but do not guarantee on it, with a bit of luck they will.

If you want to if you have kept a copy of the FOS complaint form you can send them a copy as well.
Good luck.;)

hulahoopsrule

di3004 wrote: »

Hi Hulahoops (yum love those crispy snacks) lol :D.

I think they were regulated 2003 or maybe 2004 anyway, sure someone will confirm, so good luck with these cases.;)

Some do make them aware they have done this and it has been known that they change their minds as well, but do not guarantee on it, with a bit of luck they will.

If you want to if you have kept a copy of the FOS complaint form oyu can send them a copy as well.
Good luck.;)

Thanks Di!
Think I will do show em i mean business. Quite aggitated by them as after all the new points/questions I put in my second letter for them to look into it took them 16 weeks total (after "losing" letter) to just put "our answer is same as last letter" I mean :mad:
But I'm hoping it will be a case of slowly but surely. I would be so happy it I get it back as I'm sure I'm not alone and its fabulous to hear there are some successes coming through gives us some hope