PPI Reclaiming Discussion Part 5

onemoment_2

amersall wrote: »

I assume it would depend if the Endowment paid out, I am not sure how this would work, but I know someone who will
If magpiecottage sees this post, I am sure you will get a response.

Hi

the mortgage and the endowment are still running its not quite got to the full term yet (25 years) ends December 2014

I have been trying to work out how a settlement figure is arrived at

is it in my case :-

amount of ppi payed per month (£45 I think)
multiplied by 12 giving me the yearly amount (£540)
add interest (is 8% the correct amount?)
then multiply by the number of years I paid (8 in my case)
is there an element of compensation to be added as well ?

do they use compound interest or simple ?

sorry about all the questions, I am new to this and didnt want to use a claim company

thanks and thanks in advance
Mark

HelloDoris

Hello,

Hoping this might be a good place to get some advice on a PPI claim I'm making through Barclaycard.

Originally had my credit card through Egg, it was then sold on to Barclaycard. When I finally got my head round claiming the PPI i phoned BC to get my account numbers. The very unhelpful man on the phone told me it was not their problem but Eggs. So I duly phoned Egg to speak to them, who (quite rightly) told me to !!!!!! off back to BC.

Eventually I spoke to someone who agreed it was their problem and a claim was opened. I filled In the requisite forms and sent them off. Got a letter to say the claim was open and an decision would be made within the 8 weeks. Fast forward 4 weeks and i receive another letter saying the claim was still on going but they would be done by the 8 weeks (17thApril).

Get to the 17th and no letter, next day I rush to open the letter that magically arrived only to find they've not decided on my claim as they are awaiting paperwork (presumably from Egg) but they endeavour to come back to me in a timely fashion, no further deadline or date has been given. They also say I can go to the ombudsman if I wish.

My question is what is a reasonable amount of extra time to give them? Shall I just go for it and write to the FO, or shall I ring BC and give them a serious talking too?

Thanks for any help you can give.

Doris.x

di3004

craigwhu wrote: »

Am having diffulculty claiming ppp back from car loans 2day done it online and did not get told about it i done the stupid thing of signing saying i understood what it was and they wont give me any money back any info would be helpful.

Hi there

How far have you got with this? I take it they have rejected your complaint going by your post?

Have they given you the opportunity to write back with further information? or was it the final decision?

The final decision should let you now if your eligible to complain to the FOS.
But if they have not confirmed it being final with no details of the FOS, you could write back and ask them to reconsider by telling them you do not agree with the decision they made because.............

Good luck.

di3004

HelloDoris wrote: »

Hello,

Hoping this might be a good place to get some advice on a PPI claim I'm making through Barclaycard.

Originally had my credit card through Egg, it was then sold on to Barclaycard. When I finally got my head round claiming the PPI i phoned BC to get my account numbers. The very unhelpful man on the phone told me it was not their problem but Eggs. So I duly phoned Egg to speak to them, who (quite rightly) told me to !!!!!! off back to BC.

Eventually I spoke to someone who agreed it was their problem and a claim was opened. I filled In the requisite forms and sent them off. Got a letter to say the claim was open and an decision would be made within the 8 weeks. Fast forward 4 weeks and i receive another letter saying the claim was still on going but they would be done by the 8 weeks (17thApril).

Get to the 17th and no letter, next day I rush to open the letter that magically arrived only to find they've not decided on my claim as they are awaiting paperwork (presumably from Egg) but they endeavour to come back to me in a timely fashion, no further deadline or date has been given. They also say I can go to the ombudsman if I wish.

My question is what is a reasonable amount of extra time to give them? Shall I just go for it and write to the FO, or shall I ring BC and give them a serious talking too?

Thanks for any help you can give.

Doris.x

Hi Doris and welcome

Eight weeks is the normal timescales for a full final decision, but if this time have passed, they write to confirm where they are with your complaint, also with details of the FOS.

However, in my opinion, I would try perservering a little longer, because I assume they still have backlogs as well, and in your case collecting data from the other business.

You can of course otherwise complain to the FOS now, but please be aware, they also have huge amounts of backlogs to get through still, but it's up to you of course.

What you can do is try to find out who the Chief Executive officer (CEO) is of the business and tell them you are not happy with how your complaint is being treated and they've had more than ample time to deal with the case, and request they can look into it and contact you for as soon as possible.

Or even ask your local MP to write to them on your behalf.
Good luck.;)

di3004

Emmroyd wrote: »

I have submitted a claim for my Argos card, I took out the card in 2001 and didn't realise there was PPI on it until seeing it on a statement in 2009, I immediately contacted them to get this stopped which took 4 phone calls and ended up with the escalations department before it was resolved. I filled out the questionnaire a few weeks ago, I received a response within 28 days to say they were looking in to it and would respond within the next 28 days, I then received a letter on 17 April to say they do not believe I was mis-sold the 'coversafe insurance' and that the account was set up 'before the FSA's Insurance Conduct of Business rules were introduced'...does anyone know what this means and should it make a difference to my claim, it didn't seem to matter in my claim with Cahoot? I intend to respond to this asking that the outcome be reconsidered but wondered if anyone had had any similar experiences with Argos or any advice?

Hi and welcome
Not all busineses were regulated by the FSA until from 14 Jan 2005.
So for example, the Financial ombudsman service (FOS) if you were to complain to them are not able to deal with a complaint if the business your complaining about were not regulated by the FSA or prior to these GISC at the time you taken out the policy.

However, you can still try ringing the FOS, and they will suggest another avenue in order to try to get your money back to you, such as the underwriter/insurer of the company you complaining about.
They may have been regulated, and if they had any involvement of the ppi when it was sold to you, the FOS can check this out and try holding them responsible or part responsible.

Call the FOS on the free customer number who will be able to advise from here, but ask the lender to send you a copy of the policy details in the post (these are free) and your entitled to this anytime on request. Details of the underwriter/insurer are enclosed on that policy.

Hope that helps, good luck.:)

amersall

onemoment wrote: »

Hi

the mortgage and the endowment are still running its not quite got to the full term yet (25 years) ends December 2014

I have been trying to work out how a settlement figure is arrived at

is it in my case :-

amount of ppi payed per month (£45 I think)
multiplied by 12 giving me the yearly amount (£540)
add interest (is 8% the correct amount?)
then multiply by the number of years I paid (8 in my case)
is there an element of compensation to be added as well ?

do they use compound interest or simple ?

sorry about all the questions, I am new to this and didnt want to use a claim company

thanks and thanks in advance
Mark

Hi, post the question here
http://forums.moneysavingexpert.com/forumdisplay.php?f=187

They know more about MPPI to help you with this, there are two FAs on there (magpiecottage is one) that will see the post as they do not always come on the PPI reclaim board.

amersall

My question is what is a reasonable amount of extra time to give them? Shall I just go for it and write to the FO, or shall I ring BC and give them a serious talking too?

Give them the time they need, FOS can take well over a year to resolve this.

amersall

craigwhu wrote: »

Am having diffulculty claiming ppp back from car loans 2day done it online and did not get told about it i done the stupid thing of signing saying i understood what it was and they wont give me any money back any info would be helpful.

Do you have the agreement and is the PPI included in the monthly payment?.

kent-boy

Hi all

I had a credit card with the Aliiance & Leicester which i was paying PPI !
A couple of years ago A & L were taken over by Santander and the card was taken over by MBNA !
Just wondering if anyone else is in the same situation and if anyone could advise me as to who to address the complaint to ?

Nitamcc21

Hi all, quick question... I logged a complaint with HSBC around 24th March. They sent me a questionnaire to complete and return which I did. I called today to check if they had received my form. They said they have got it but the complaint time of 8 weeks will start from 12.04.12 when they received my form (sent on 03.04.12) not Match when it was originally sent. Is this correct?

Cheers

Neets