PPI Reclaiming Discussion part 4

marshallka

debs16 wrote: »

hello just a quick question can you claim you were mis sold ppi from 15 years ago xx


thanks in advance

debs16

You can always have a go at this. if it was a bank they could have been part of the old Banking Ombudsman and if you only just became aware of this (through the media attention) then you could still have a go to make the complaint through the Ombudsman now and it may be within jurisdcition.

Who was this with? Who actually sold this to you?

mlucyminx

marshallka wrote: »

Mlucyminx, I can understand your frustration. If you are suffering hardship then perhaps you could ask them to rush this forward for you. I know they do this if you send them details in. I myself am getting the same and although we are not as bad off as some we are getting deeper into debt as time goes on. All they say is " you are in the queue". You are not alone but just keep on at them (although stereo mike says it does put you bottom of the pile if you do that).

What qualifies as hardship? I am at present meeting all payments I am required to meet but as I am a self employed childminder in this financial climate I have lost work, as people are losing jobs and no longer require childcare. My earnings have reduced that much that come september there is a strong polibility I will have to give the childcare up and go back on benifits (I have a disabled son) and finding childcare for him is almost impossible hence one of the reasons why I became a childminder in the first place. Does this qualify as hardship or do I have to wait until my work has completely dried up?

mlucyminx

gadgets wrote: »

Hi there.

I must have been living in a cocoon or something as I hadnt heard anything about this situation untill my wife read about it in a newspaper.

I was wondering what the current situation is with Blackhorse and Capital One. These are two companies who we are thinking about getting in touch with regarding PPI. We have had a captial one credit card and blackhorse loan since 2004 and I am unsure what to do. I have tried reading through some of the pages but i am just getting confused.

Any help is appreciated.

Don't know about blackhorse but capital one refused to pay out to me. Went to ombudsman and they paid up. Took about 6 months.

marshallka

mlucyminx wrote: »

What qualifies as hardship? I am at present meeting all payments I am required to meet but as I am a self employed childminder in this financial climate I have lost work, as people are losing jobs and no longer require childcare. My earnings have reduced that much that come september there is a strong polibility I will have to give the childcare up and go back on benifits (I have a disabled son) and finding childcare for him is almost impossible hence one of the reasons why I became a childminder in the first place. Does this qualify as hardship or do I have to wait until my work has completely dried up?

I don't know as i was told it was if you actually had a repossession order or had a terminal illness. Others have been told different but I asked for it in writing and they sent it to me too. I would still try though and see what they say to you. It seems different people have different answers.

I completely understand what you are going through. We pay interest only on the mortgage and if we paid the full amount and got into more debt that way would we qualify. Its a touchy subject on here and I have been slated for stating my views on it so I can only say to try and see what happens but you do have my full sympathy. Good that you are trying to pay your way too.

Good luck

DrRusty

Ok so i have just received a letter from FOS saying that MBNA will settle on a goodwill basis, while standing by thier orignal defence. Its taken a while so good news at last !!! :T

However, FOS has provided details relating to how the payment should be calcualted and it seems more complicated than adding up the premiums paid and returning them to me with interest. (n.b. the account was closed sometime ago).

As such I am being asked to accept this offer without know quite how much I am being offerred?

The FOS details that

A) reconstruct the account by removing any premiums in repesct of the PPI and any interest or charges in respect of those premiums.

If that produces a credit balance for any period credit interest on that balance for that period at 8% simple per year

C) pay the customer the difference between the revised closing balance and the orignal closing balance.

D) pay the customer interest on that difference at 8% simple per year from the date of closure to the date of the payment

E) send the customer details of how the revised balance, the difference and the interest were calculated.


This does seem very complicated and I wonder if in reality it just means the added up how much in PPI premiums were paid and add interest?

Any help advise welcome as i need to send the form back asap.

marshallka

DrRusty wrote: »

Ok so i have just received a letter from FOS saying that MBNA will settle on a goodwill basis, while standing by thier orignal defence. Its taken a while so good news at last !!! :T

However, FOS has provided details relating to how the payment should be calcualted and it seems more complicated than adding up the premiums paid and returning them to me with interest. (n.b. the account was closed sometime ago).

As such I am being asked to accept this offer without know quite how much I am being offerred?

The FOS details that

A) reconstruct the account by removing any premiums in repesct of the PPI and any interest or charges in respect of those premiums.

If that produces a credit balance for any period credit interest on that balance for that period at 8% simple per year

C) pay the customer the difference between the revised closing balance and the orignal closing balance.

D) pay the customer interest on that difference at 8% simple per year from the date of closure to the date of the payment

E) send the customer details of how the revised balance, the difference and the interest were calculated.


This does seem very complicated and I wonder if in reality it just means the added up how much in PPI premiums were paid and add interest?

Any help advise welcome as i need to send the form back asap.

Seems to me that its a payment to you as if you never had the PPI at all. There is a link here as to how FOS calculate the refunds due

http://forums.moneysavingexpert.com/showthread.html?t=1596473


Well done

Doddy03

Doddy03 wrote: »

Hi all - just got a quick query that I hope someone can help with. We are disputing our PPI with First Plus and we have now been assigned an Adjudicator for our case. He telephoned my husband yesterday to ask for additional information and he said that he would now be writing to First Plus for their comments. Can anyone tell me roughly how long it will be until we get a decision as our five years is up in august and if the decision goes against us then we want to be able to reclaim our PPI at this time. However, I don't want to write to First Plus now and ask for money back whilst it is with the FSA. Hope this makes sense. Any advice much appreciated. Many thanks.

Hi all -just wanted some advice. I emailed the Adjudicator to give some additional information on 18th June and he has responded today. Basically this is what he has said at the end of his email:

However, I should note that we have now issued our view to Firstplus (a copy of which has been sent to you today as well). If you have any queries following receipt of our view, please do not hesitate to contact me.

My stomach is in knots - do you think this is good news or bad news and does this mean he has made his decision - seems very quick. Please someone let me know their view as otherwise don't think i will sleep tonight!!!
Thanks everyone for all your great work on here.
Debs xx

pinknico

Doddy03 wrote: »

Hi all -just wanted some advice. I emailed the Adjudicator to give some additional information on 18th June and he has responded today. Basically this is what he has said at the end of his email:

However, I should note that we have now issued our view to Firstplus (a copy of which has been sent to you today as well). If you have any queries following receipt of our view, please do not hesitate to contact me.

My stomach is in knots - do you think this is good news or bad news and does this mean he has made his decision - seems very quick. Please someone let me know their view as otherwise don't think i will sleep tonight!!!
Thanks everyone for all your great work on here.
Debs xx

When it comes to First Plus I would expect it to be good news for you. good luck, let us know. xx

DrRusty

Thanks marshalka

It's easy to figure out a loan, but the effect of PPI on a ceditcard is more complicated? i just fear that MBNA are going to pick a figure out of the air and add the £200 for compensation and i will be none the wiser.

I will digout my statements latter and see if i can work out a ball park figure.

marshallka

pinknico wrote: »

When it comes to First Plus I would expect it to be good news for you. good luck, let us know. xx

Just what I thought there.