PPI Reclaiming Discussion Part 5

[Deleted User]

amersall wrote: »

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.

Exactly. Seems strange that the largest amount of PPI has been "ignored" by the Bank.
I don't think we have the full story here...

[Deleted User]

amersall wrote: »

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.

Yes, it's frustrating that some posters appear to be reluctant to post details even though it's virtually impossible for them to be personally identified on the forum.

amersall

Moneyineptitude wrote: »

Exactly. Seems strange that the largest amount of PPI has been "ignored" by the Bank.
I don't think we have the full story here...

Looks to me like a " goodwill gesture" this is how they would get around paying the full redress.
I think gilldee would not ask the question if the full redress had been given, I do not trust any redress amounts unless they are full redress, if the large loan was not redressed then that is a nice sum the bank can keep :mad: the banks rely on these goodwill gestures in the hopes the customer thinks that is all they are entitled to, this was what FP did when the PPI mis sell started, they were offering a rebate of the PPI as a goodwill gesture but not telling the customer that the PPI is still on the loan to term end with interest :eek:
I have helped a lot of people get full redress with FP after they have accepted the "gesture" bet FP hate me with a vengeance :p

am i bovvered though :rotfl::rotfl:

[Deleted User]

amersall wrote: »

do not trust any redress amounts unless they are full redress, if the large loan was not redressed then that is a nice sum the bank can keep :mad: the banks rely on these goodwill gestures in the hopes the customer thinks that is all they are entitled to,

I know...;)

amersall

RLG81 wrote: »

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. When you settle early, you receive a rebate of the PPI total amount, the remaining PPI is paid back to the bank by you in the settlement figure.The calculations on the offer letter seem to suggest that the premiums were paid monthly. They put the monthly PPI amount that they have to redress to you, these include the interest on those payments

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

Hope the red bits above help you understand better
Your redress will be per FOS rules, you get the whole PPI amount back, less the rebate they gave when you settled the loan plus 8%.

[Deleted User]

amersall wrote: »

Hope the red bits above help you understand better

You should know better how to use the quote function by now, Lorraine!:p

amersall

:p Couldn't be bovvered :p:p Mark

[Deleted User]

amersall wrote: »

:p Couldn't be bovvered :p:p Mark

Ha Ha Ha:D

RLG81

Thank you for your advice, the figure they gave is right then I'm guessing so I will accept.
Not bad for 1 letter- just under £5000!

stillpaying2012

i borrowed £500 from a loan company on 01/02/2011.i have since paid £1,335,00.they still say i owe £486.i have been asking their employees why i am still paying their answers are not satisfactory.please help i feel cheated. do i qualify for ipp?