Alliance & Leicester

Sprite15

Today's up-date

One week after calling Alliance & Leicester I have received a letter offering me the following:

Their offer consists of £711.14 as a refund, representing the payments made in respect of PPI from Aug 2006 to Feb 2009. It also includes £75.85 in respect of interest payable until Feb 2009. Interst is calculated at a rate of 8%. Total amount payable is £786.99.

If I accept, they will sent me a new loan agreement, with new monthly repayments of £102.81 instead of £125.00.

That just seemed really quick and easy to sort out whereas I was expecting it to be a long drawn out process.

So is that it then? no catches? do I take the money and run ?

di3004

Sprite15 wrote: »

Today's up-date

One week after calling Alliance & Leicester I have received a letter offering me the following:

Their offer consists of £711.14 as a refund, representing the payments made in respect of PPI from Aug 2006 to Feb 2009. It also includes £75.85 in respect of interest payable until Feb 2009. Interst is calculated at a rate of 8%. Total amount payable is £786.99.

If I accept, they will sent me a new loan agreement, with new monthly repayments of £102.81 instead of £125.00.

That just seemed really quick and easy to sort out whereas I was expecting it to be a long drawn out process.

So is that it then? no catches? do I take the money and run ?

Hi there hun

Well done and congratulations :T :beer: :T .

If you feel happy enough with this then its up to you if you want to take it, as the loan is still active they have obviously paid back what you paid in plus interest and now a new loan without the ppi.

Don't forget to post this on the success thread, well done !:T :beer:

DebDay

Have a similar story as op. We received original letter dated 6 Feb stating we could have been mis-sold PPI. We know that we had as we weren't informed that we could cancel until we spoke to a financial advisor, after the loan was paid. However, until now we didn't know we could anything about it.

We rang them on the same day and they said that it would be investigated. Fair enough. We then received an offer letter on 18th Feb saying that they could not find proof that we WEREN'T mis-sold it! (Cheeky) We need the cash so accepted the £500 offered.

We still haven't received any money. When we ring A+L say that they have a huge delay! How can it take les time to investigate then to print off a cheque??

My OH reckons that they are trying to keep all monies until new tax year for interest.

Oh and the interest on offer was only calculated until Feb 28th. Seeing as we heven't received payment yet I think that interest should be updated personally.

di3004

DebDay wrote: »

Have a similar story as op. We received original letter dated 6 Feb stating we could have been mis-sold PPI. We know that we had as we weren't informed that we could cancel until we spoke to a financial advisor, after the loan was paid. However, until now we didn't know we could anything about it.

We rang them on the same day and they said that it would be investigated. Fair enough. We then received an offer letter on 18th Feb saying that they could not find proof that we WEREN'T mis-sold it! (Cheeky) We need the cash so accepted the £500 offered.

We still haven't received any money. When we ring A+L say that they have a huge delay! How can it take les time to investigate then to print off a cheque??

My OH reckons that they are trying to keep all monies until new tax year for interest.

Oh and the interest on offer was only calculated until Feb 28th. Seeing as we heven't received payment yet I think that interest should be updated personally.

Hiya hun

A&L seems to be one of those companies who are taking longer to pay out, and possibly because of all the investigations they have ongoing with these complaints.

However, you could write to them if you wanted to and give them a timescale, or tell them you will consider taking further action.

This worked for me, I gave the company (another company) 14 days or I would consider taking this further, they paid out before the 14 days were up, sometimes this works.

I do hope you hear soon hun, good luck and keep us posted.;)

Di
X

DebDay

I will try that and see what happens.

di3004

DebDay wrote: »

I will try that and see what happens.

Good luck hunni, hope they pay this out very soon.;)

Di
X

DebDay

:j :beer:
Received cheque today for £563.73!!!!!!

Seems like they did recalculate the interest. The letter they sent was just standard letter saying 'Thankyou for helping us improve'...blah blah blah.

Thankyou very much A + L!!!

:T

di3004

DebDay wrote: »

:j :beer:
Received cheque today for £563.73!!!!!!

Seems like they did recalculate the interest. The letter they sent was just standard letter saying 'Thankyou for helping us improve'...blah blah blah.

Thankyou very much A + L!!!

:T

Congratulations and well done to you.:j
:beer: :T :beer:

Di
X

maxdp

DebDay wrote: »

:j :beer:
Received cheque today for £563.73!!!!!!

Seems like they did recalculate the interest. The letter they sent was just standard letter saying 'Thankyou for helping us improve'...blah blah blah.

Thankyou very much A + L!!!

:T

Well done.x

clarky213

I have recieved the same letter about a loan I took out in march 06, but think I have thrown it out. does anyone have the phone number of the department I need to contact as i think I may also have a claim.

thanks
Clarky