PPI Reclaiming Discussion Part 5

[Deleted User]

gilldee wrote: »

hi moneyineptitude, refund of PPI due £121.83 excess payment and interest £303.10 less previously accepted claim -£376.58 SUD TOTAL £48.35 statutory interest 8% untill 2012 £240.71 less Tax at 20% from 8% interest -£48.14... TOTAL ammount to recieve £240.92 we knew we had ppi on one of the accounts and claimed on that for 2-3mths because my husband was on sick money. thats the £376.58. they have made us this offer based on all 3 loans together because we payed one off when we renewed the other then again for the final one. does this help? thanks x

Hmmm, this means they have treated your individual loan complaints as one because they are part of a consolidation chain.
Why do they say the PPI apparently paid on the other loans has not been included though?

gilldee

yes thats what they have done, they have given us a SUMMARY OF REDRESS CALCULATIONS on the individual accounts, which they say calculate to the full ammount they are offering us for all 3 loans together including ppi on them all!! even tho a woman working there told us over the phone today how much we borrowed and how much ppi payed on all of the seperate accounts which alltogether total about £2000!!

[Deleted User]

gilldee wrote: »

yes thats what they have done, they have given us a SUMMARY OF REDRESS CALCULATIONS on the individual accounts, which they say calculate to the full ammount they are offering us for all 3 loans together including ppi on them all!! even tho a woman working there told us over the phone today how much we borrowed and how much ppi payed on all of the seperate accounts which alltogether total about £2000!!

Well, I'd say you have to take this to the Ombudsman. The fact that you claimed on the PPI does weaken your case, but not as much as it appears here.
Are you sure you are telling us everything they have written to you?

upsidedowngirl

Thanks Moneyineptitude.
The odd thing is that in subsequent applications made online I have always been very clear about unticking or ticking to state I do not want PPI.
Can I presume then that if you have no contact with anyone at the bank that you cannot make a claim? or at least a successful one?

[Deleted User]

upsidedowngirl wrote: »

Can I presume then that if you have no contact with anyone at the bank that you cannot make a claim? or at least a successful one?

Well, you can't make a claim for mis-selling if it never sold to you. The Bank will just say it was "not advised".

RLG81

Hi, I recently put in a claim to Halifax for missold PPI. Today I recieved an offer letter, which is for quite a large sum, but which is lower than what I had calculated, even though they have so say added interest etc, and I'm a bit confused. My understanding was that the PPI was front loaded and therefore when I settled the loan early the settlement figure would have included the full cost of the insurance as shown on the initial paperwork. The calculations on the offer letter seem to suggest that the premiums were paid monthly.

I don't know if I am wrong in thinking that the PPI was front loaded and wonder if anyone has a similar experience with Halifax or another bank. If I am right then I will take the matter further through the Financial Ombudsman and try to get everything back which I paid out in the first place, but I might be wrong. Also does anyone know, if I did take the matter further, would the offer which they have given me today still stand or would they decide they wouldn't pay me a penny even though, clearly I have a valid claim?

I'd appreciate any help or advice anyone can offer. I'll need to let them know on Monday if I am not happy with the offer otherwise they'll asume that the matter is closed.
Many Thanks

gilldee

The only thing i havent typed out to yous is the full REDRESS CALCULATIONS on each separate loan that they have sent us with this offer,to which they get there final amount of £240.92 owed to us!! I would send yous it if it would help things. we are taking this to the Ombusman because we carnt work out how they get this final figure.

[Deleted User]

gilldee wrote: »

we are taking this to the Ombusman because we carnt work out how they get this final figure.

Good Luck.
Do expect a long wait, though.,:(

[Deleted User]

RLG81 wrote: »

Today I recieved an offer letter, which is for quite a large sum, but which is lower than what I had calculated, even though they have so say added interest etc, and I'm a bit confused.

Sorry, but you need to give us far more information in order for us to comment.
What did you complain about?
What did the Bank say in their offer letter?
How much did you pay in PPI and over what term?


No point in posting if you don't want to give details.

amersall

gilldee

16/03/2001 £7000 £199.44mth (ppi payed was£1418.85) finished in 2007.

This is the PPI you should be asking about, I assume this went to term end?, if it did then they owe you the whole ppi amount and 8%, even if this was the loan that you made the claim on, the refund would be a tidy amount.

The others look right to me, they were not running long enough to give you any great amount back.

If I am correct with this loan and PPI, you need to reject the offer and ask them to look at this loan again and redress correctly or you will take this to FOS, this was front loaded PPI, you do not believe this product was explained to you regarding the true cost and you were not able to make an informed decision, you believe they have not looked at the whole of your claim fairly and if they do not reconsider, you will take this to FOS.

By the way, to know if any redress is correct so that we can help you, all figures need to be given so we know what you can do to get this put right .