Credit Card & Loan PPI Reclaim

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
25 replies 1.5K views
AngryDogAngryDog Forumite
445 Posts
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
Hi,

I am going to request the PPI for my Egg Credit Card.
I assume that my PPI with Egg is covered by Egg?
The account number, is this my credit card number that I should use?

Thanks.
As at End of June 2014
Credit Cards - HSBC - £9422
Loans - NRAM £7500 & £12848
«13

Replies

  • di3004di3004 Forumite
    42.6K Posts
    AngryDog wrote: »
    Hi,

    I am going to request the PPI for my Egg Credit Card.
    I assume that my PPI with Egg is covered by Egg?
    The account number, is this my credit card number that I should use?

    Thanks.


    Hi there

    Yes that should be the account number you should write.

    If you require help with this, then please ask and wishing you luck with this.

    More info on the link below.
    http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

    Good luck.;)
    The one and only "Dizzy Di" :D
  • Thank you :)

    I am just in the process of doing my SAR letter. I have moved house and cannot find my paperwork :(

    I had a loan, and currently have a credit card with Egg. Will I have to send £20 to them for the information that I require?

    Also, if I took the card out over 6 years ago, but still have and use it, will I be eligable to reclaim the PPI?

    I am also doing a SAR letter for my current loan with Nothern Rock.

    Thanks!
    As at End of June 2014
    Credit Cards - HSBC - £9422
    Loans - NRAM £7500 & £12848
  • di3004di3004 Forumite
    42.6K Posts
    AngryDog wrote: »
    Thank you :)

    I am just in the process of doing my SAR letter. I have moved house and cannot find my paperwork :(

    I had a loan, and currently have a credit card with Egg. Will I have to send £20 to them for the information that I require?

    Also, if I took the card out over 6 years ago, but still have and use it, will I be eligable to reclaim the PPI?

    I am also doing a SAR letter for my current loan with Nothern Rock.

    Thanks!


    Hi there

    A SAR request known as a Subject access request, the cost is that of £10 payable by cheque or postal order, the template for this request is here:
    http://forums.moneysavingexpert.com/showthread.html?t=1475553

    So its £10 yoiu pay for each separate bank.
    You should receive everything they still hold on you.

    Hope this helps hun.;)

    Oh and yes you can still reclaim, it makes no difference if the account is still active or settled.
    The one and only "Dizzy Di" :D
  • di3004di3004 Forumite
    42.6K Posts
    Forgot to post in the post I just posted above, if its just the agreement you require, you can write just to request for this, this agreement should show the amount of the finance and ppi if taken etc.

    You write by asking that they send you a copy of your Agreement (CCA), and you enclose a £1 postal order or cheque payment, and tell them you expect to receive this by 12 days of your request.

    Again, recorded delivery is best for your proof of posting.;)
    The one and only "Dizzy Di" :D
  • What would be best do you think? To start a PPI claim, do I need a SAR or will a CCA suffice?

    Also, my loan with Northern Rock was a consolidation loan - it paid off another Northern Rock Loan at the time and other debts. I will have to try and get the information for that.

    Out of interest - My NR loan - it was for ~£20,000. I was making some large over payments. A year ago my settlement figure was £19,461.76. I paid around £8000 off this so only owe around £11,000 now. Will my over payments go against me?

    Thanks!
    As at End of June 2014
    Credit Cards - HSBC - £9422
    Loans - NRAM £7500 & £12848
  • AngryDogAngryDog Forumite
    445 Posts
    I received an interesting letter from Northern Rock yesterday! I made £13,000 worth of payments on this loan in the last 12 months. I took out the loan for £20,000. Its amazing how you can make so many panyments yet it hardly comes off the loan - interest, gotta love it! £13,000 of payments (including the monthly DD), works out at £8,000 paid off.

    However, the really interesting part was the Insurance - listed as being over £9,000! Thats nearly half of what I borrowed!!!!
    As at End of June 2014
    Credit Cards - HSBC - £9422
    Loans - NRAM £7500 & £12848
  • That is daylight robbery!
  • AngryDogAngryDog Forumite
    445 Posts
    Im not sure how it works out, but I guess its because of the interest? The original loan amount to be "re-paid" is £40,000. This will include the interest and PPI?
    As at End of June 2014
    Credit Cards - HSBC - £9422
    Loans - NRAM £7500 & £12848
  • it could be that the PPI was added to the interest of the loan! did you pay anything upfront?

    Also i presume a quick way to check is to use an APR calculator and put in your APR amount, the amount you lent and the repayment period and see what the payments per month should be anything on top would surely be PPI?

    I may be wrong and someone can correct me but i know a few people who have done this.
  • AngryDogAngryDog Forumite
    445 Posts
    The bottom of my statement mentioned 6.9%. I didnt pay anything upfront.

    If I am only paying 6.9% interest, then it works out at £7,742.50 interest over 10 years.
    This equals a monthly payment of £231.19. I currently pay £335.41 a month.
    As at End of June 2014
    Credit Cards - HSBC - £9422
    Loans - NRAM £7500 & £12848
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