PPI Reclaiming Discussion part 4

marshallka

brucie34 wrote: »

lloyds tsb success they have decided to pay me back £1,221 for mis sold ppi plus interest but does anyone know how they work out how much intrest they pay back.

If you mean the statutory interest you can go on the bank charges calculator

http://www.moneysavingexpert.com/reclaim/bank-charges

and work it out. If the loan is settled and they have redressed simple interest then you put the amount of the redress (amount charged) in and the date you actually settled the loan and then click calculate. If its on PPI and its monthly payments like a credit card then you can put the amount of each charge and the date each charge was made and then do a running list and it will add them all up.

Hope this helps

kelbobs

Hello again. Sincere thanks to all who read these posts and di33004 and marshallka who give so freely of their time and knowledge! I am in the process of complaining about my daughter's mis-sold PPI. We have a questionaire to fill out. Not sure how to answer this question:
'If the policy was cancelled some time ago, why do you now believe the policy was mis-sold?'
The loan was topped up and a new agreement was drawn up. Our mis -sold reason is my daughter was not employed and on benefits when the loan was taken out. Please how do i answer this question?

marshallka

kelbobs wrote: »

Hello again. Sincere thanks to all who read these posts and di33004 and marshallka who give so freely of their time and knowledge! I am in the process of complaining about my daughter's mis-sold PPI. We have a questionaire to fill out. Not sure how to answer this question:
'If the policy was cancelled some time ago, why do you now believe the policy was mis-sold?'
The loan was topped up and a new agreement was drawn up. Our mis -sold reason is my daughter was not employed and on benefits when the loan was taken out. Please how do i answer this question?

Hi and firstly thanks for the comment. Its much appreciated and i am sure DI will be along later to say the same.

With regards to the questionaire, its just best to fill in to the best of your knowledge and just keep writing she was not covered under the policy. I would say to enclose a letter also outling your reasons which is basically that she was sold a policy that was as much use to her as a chocolate teapot. I would not worry about other things in the questionarie as these are sent out as standard mostly but just keep fighting until you win as you have a very strong case and do not let them put you off. ALso don't forget to send this recorded delivery as you then have a proof and still only give the firm 8 weeks for a full and final response.

Good luck

nickyipoo

Hi There,

Hoping for advice really. Having sent stage 1 letter to First plus and received after 8 weeks the full response from them stating that policy was no mis-sold. They quote from a recording apparently of a discussion between my husband and an account manager where my husband was told several times about PPI and they have included photocopies of paperwork we signed and list of questions my husband was asked etc.

At this point I am not sure whether to continue, although I never spoke to anybody and I am the person who is suposed to be covered!!! As i am dyslexic half the terminology makes no sense to me and were desperate at the time for money so would have said yes to anything to be honest.

Do we think my claim will be just laughed at if I continue???

Thanks in advance

marshallka

nickyipoo wrote: »

Hi There,

Hoping for advice really. Having sent stage 1 letter to First plus and received after 8 weeks the full response from them stating that policy was no mis-sold. They quote from a recording apparently of a discussion between my husband and an account manager where my husband was told several times about PPI and they have included photocopies of paperwork we signed and list of questions my husband was asked etc.

At this point I am not sure whether to continue, although I never spoke to anybody and I am the person who is suposed to be covered!!! As i am dyslexic half the terminology makes no sense to me and were desperate at the time for money so would have said yes to anything to be honest.

Do we think my claim will be just laughed at if I continue???

Thanks in advance

Left a post for you on your own thread.;)

amersall

nickyipoo wrote: »

Hi There,

Hoping for advice really. Having sent stage 1 letter to First plus and received after 8 weeks the full response from them stating that policy was no mis-sold. They quote from a recording apparently of a discussion between my husband and an account manager where my husband was told several times about PPI and they have included photocopies of paperwork we signed and list of questions my husband was asked etc.

At this point I am not sure whether to continue, although I never spoke to anybody and I am the person who is suposed to be covered!!! As i am dyslexic half the terminology makes no sense to me and were desperate at the time for money so would have said yes to anything to be honest.

Do we think my claim will be just laughed at if I continue???

Thanks in advance

so first plus have actually got a recording of the account manager telling your hubby that this ppi will only last five years and it is over the term of your loan that you will be paying it back with interest, and you dont have to take this as there are other insurance products out there that you can take?:rotfl::rotfl::rotfl::rotfl::rotfl:tell me another joke:D:D you go for mis sell take it all the way,. this front loaded ppi is a rip off and i should know, mine is with the fos now.this company have no evidence that you were given the full facts this is a fob off go to fos and if you need help just give us a shout on here good luck

pinknico

Hope you hear something soon amersall.xx

amersall

pinknico wrote: »

Hope you hear something soon amersall.xx

thanks for that xx i hope i do too, will save a lot on monthly payments and the loan will reduce plus i get back all ppi i have paid for 4 years!!!! the fos are upholding 99% of front loaded ppi, you watch i will be the 1% that doesnt get it,shouldnt have said that think i might have jinxed it but i have the right reasons for mis sell so fingers crossed x

di3004

amersall wrote: »

so first plus have actually got a recording of the account manager telling your hubby that this ppi will only last five years and it is over the term of your loan that you will be paying it back with interest, and you dont have to take this as there are other insurance products out there that you can take?:rotfl::rotfl::rotfl::rotfl::rotfl:tell me another joke:D:D you go for mis sell take it all the way,. this front loaded ppi is a rip off and i should know, mine is with the fos now.this company have no evidence that you were given the full facts this is a fob off go to fos and if you need help just give us a shout on here good luck

Brill advice Amersall.......:T:T
Good luck with yours as well.;)

misscutiepie1984

di3004 wrote: »

Hi Amy

Is the account still running?
And how long have you been running the account.

They should send information they hold on you going back as far as 6 years England/Wales and Scotland I believe is that of 5 years, so anything you have taken out with them in that time they should provide you with, if you don't think you have received everything as requested on the SAR, for example maybe transcripts of phone calls made etc, then you can if you want to write back about this.

I did post a template (SAR follow up letter) on here earlier, I will try to find it and post it for you.;)

The account is still running (since 2004) although im making redcued payments.... I didnt receive anything about phone calls etc im not so fussed about that, but the main reason I applied for my SAR was so that I know what charges have been applied to my account as i believe them to be unfair.

Looking at my original agreement I have more than paid back the amount i borrowed plus apr and ppi which I believe i may have HAD to take out... this should have I believe this should have been paid of in may/june but i was told i still owed about £2,800 this is all in additional interest linked to making reduced payments at the rate of 20.74% which i think is unfair especially as im in a DMP and i am being responsible for my debts.