PPI Reclaiming Discussion part 4

aphyde9

The loan was taken out over 300 Months

paying_to_much

:oOriginally Posted by paying_to_much
Hi Di thanks for your reply’
Received acceptance letter for each upheld claim, letters of decision to uphold complaint contains this sort of info,
on 09/12/2004 you purchased loan of £10.000 + £2538.14 to purchase PPI,
Loan settled 02/01/09 PPI rebate £349.68
Then goes on to explain the calculations they will use to calculate rebate are exactly the same as would be used by the FSO. Must say it is the same as the one I have seen on this site but no sort of ball park rebate figure is given.
Loans, started mid 90s used to refurb house and each time I ran out of money loan was re-structured by getting larger loan which paid off previous loan and purchased new PPI loan then got rebate of previous PPI loan.
My other query was, are restructured/consolidated loan rebates calculated differently to single loans and if I accept these two upheld claims which are in the middle of a row of loans is there something I should be telling LTSB to make sure I get correct amount of rebate and not be mucking up my future claims (waiting for SAR), positive I spotted some info about this on site just can not find it. Would really appreciate if anyone can advise.
Will request what rebate figure will be for each upheld claim.
Grateful thanks to you and all the wonderful band of advisors on this site do not feel so alone and financially stupid anymore
Best wishes to you all Me and the Wife

Hi and your welcome.;)

Normally when you take out another loan with the same bank to have another, so much is reduced into a rebate, so the settlement works out less, they are as it looks to me, going to refund the remainder of the PPI, but please do no quote on me, because over the years things possibly change, so hopefully someone will be along soon to take a little looksie for you soon.
It may be worth you posting this on the above PPI reclaiming thread above, where many post on there, Tiggrae as well, so she may have more of an idea on this, also Marshallka, me with explaining will only leave you more confused........

However, if the bank send you in the post the way they worked it all out on each loan, it would be so much easier would'nt it? They should do this but sometimes we have to keep chasing them up as well.

Hope someone comes along soon to go through this for you both, fingers crossed.;)

Di

Di thanks for your advice, now realise that I was posting in wrong places thank you for the lovely way that you have got me back to the right place, sorry to one and all if you have spotted any of my posts in the wrong place they were supposed to end up here.

can any one give further advice please?:o

thanks again Di

di3004

paying_to_much wrote: »

:oOriginally Posted by paying_to_much
Hi Di thanks for your reply’
Received acceptance letter for each upheld claim, letters of decision to uphold complaint contains this sort of info,
on 09/12/2004 you purchased loan of £10.000 + £2538.14 to purchase PPI,
Loan settled 02/01/09 PPI rebate £349.68
Then goes on to explain the calculations they will use to calculate rebate are exactly the same as would be used by the FSO. Must say it is the same as the one I have seen on this site but no sort of ball park rebate figure is given.
Loans, started mid 90s used to refurb house and each time I ran out of money loan was re-structured by getting larger loan which paid off previous loan and purchased new PPI loan then got rebate of previous PPI loan.
My other query was, are restructured/consolidated loan rebates calculated differently to single loans and if I accept these two upheld claims which are in the middle of a row of loans is there something I should be telling LTSB to make sure I get correct amount of rebate and not be mucking up my future claims (waiting for SAR), positive I spotted some info about this on site just can not find it. Would really appreciate if anyone can advise.
Will request what rebate figure will be for each upheld claim.
Grateful thanks to you and all the wonderful band of advisors on this site do not feel so alone and financially stupid anymore
Best wishes to you all Me and the Wife

Hi and your welcome.;)

Normally when you take out another loan with the same bank to have another, so much is reduced into a rebate, so the settlement works out less, they are as it looks to me, going to refund the remainder of the PPI, but please do no quote on me, because over the years things possibly change, so hopefully someone will be along soon to take a little looksie for you soon.
It may be worth you posting this on the above PPI reclaiming thread above, where many post on there, Tiggrae as well, so she may have more of an idea on this, also Marshallka, me with explaining will only leave you more confused........

However, if the bank send you in the post the way they worked it all out on each loan, it would be so much easier would'nt it? They should do this but sometimes we have to keep chasing them up as well.

Hope someone comes along soon to go through this for you both, fingers crossed.;)

Di

Di thanks for your advice, now realise that I was posting in wrong places thank you for the lovely way that you have got me back to the right place, sorry to one and all if you have spotted any of my posts in the wrong place they were supposed to end up here.

can any one give further advice please?:o

thanks again Di

Hi hun

and do not worry, you were not in the wrong place, its just I thought it would be another option for you to post here too, in case someone gets to this thread first.;)

But your most welcome and hopefully someone will be along soon, good luck

Di
X

hopefulshell07

Just a quick question, what is the 6 year rule? I did a search but it came up with lots of various things but not an answer. I am trying to get back some money on PPI's on loans taken out in 2002, 2003, 2004 and 2008. So far the bank have offered a more generous pro rata rebate on the two earlier loans, if I don't agree with their offer can I still forward these onto the FOS?
Thank you

di3004

hopefulshell07 wrote: »

Just a quick question, what is the 6 year rule? I did a search but it came up with lots of various things but not an answer. I am trying to get back some money on PPI's on loans taken out in 2002, 2003, 2004 and 2008. So far the bank have offered a more generous pro rata rebate on the two earlier loans, if I don't agree with their offer can I still forward these onto the FOS?
Thank you

Hi hun

There should be some info on the insurance loan claiming link of Martin's, even though it states this, you can still try to reclaim on the PPI, just as long as you have your information going back even earlier than 6 years, many have been successful even from reclaiming from loans etc taken out in the 90's.
The 6 year rule though, is mainly used on bank charges.
Hope this sort of gives you some idea.:) x

marshallka

hopefulshell07 wrote: »

Just a quick question, what is the 6 year rule? I did a search but it came up with lots of various things but not an answer. I am trying to get back some money on PPI's on loans taken out in 2002, 2003, 2004 and 2008. So far the bank have offered a more generous pro rata rebate on the two earlier loans, if I don't agree with their offer can I still forward these onto the FOS?
Thank you

If you mean about FOS being able to intervene with loans older than 6 years then they can if you only just became aware of the misselling. I had some going back to 2001 with a bank.

tiggrae

aphyde9 wrote: »

The loan was taken out over 300 Months

then you need to add t your claim that the PPI was mis sold as it only covered you for 5 years of a 25 year loan and you'de be paying out more than you could possibly EVER claim back and therefore was not sold in your best financial interests

Je101_2

Hi, I have just contacted RBS to get an update and I was informed that they are just waiting for the calculations to be done. Does this mean I am being refunded? I did get a letter yesterday from them asking for more time to investigate for 1 loan but when I called today I was told that they are just waiting for calculations for all loans.

marshallka

Je101 wrote: »

Hi, I have just contacted RBS to get an update and I was informed that they are just waiting for the calculations to be done. Does this mean I am being refunded? I did get a letter yesterday from them asking for more time to investigate for 1 loan but when I called today I was told that they are just waiting for calculations for all loans.

Not 100% BUT it does sound like it if they are actually calculating.;)

Je101_2

marshallka wrote: »

Not 100% BUT it does sound like it if they are actually calculating.;)

Thanks for your reply marshallka, I won't get too excited just yet.