PPI Reclaiming Discussion Part 5

misschevious_13

I just wanted to say thanks to MSE for highlighting the fact that its not just credit card PPI you can reclaim.
I USED to switch my mortgage every 2 years to get a better rate and once paid an exit fee, although i couldnt remember which lender i had paid it to but it was between 2 - (it was years ago) - so i followed the advice, phoned the lenders concerned and lo and behold i got £250 back from one - i had to write to them.
Thanks Martin and team

jwat_2

I have a mortgage through allience & leicester (now santander) & at the time to get a better rate I chose to open a premier current account - the credit card was given to me as part of the current account. The credit card is MBNA but was given via A&L so my question is who do I send PPI claim to?? please help!!:(

Egg_Chaser_12

Does anyone know how the FOS are getting through the claims? have the sped things up or is it getting slower?

sam45

@ amersall
Thanks for the advice. I think i will call WF and ask them to reset the loan without PPI so that i know how much i owe and how much i should pay and also how much i have paid so far so that my PPI claim can offset the balance thereby reducing my monthly payments. Point taken, shall continue to pay but at a reduced amount as i understand they cant refuse whatever payment i offer.

studapples

Keep at it everyone. I have claimed back nearly £20.000 so far but my biggest fight is with NatWest/RBS/HBOS !!. They are like a dog with a bone.

studapples

Egg_Chaser_12 wrote: »

Does anyone know how the FOS are getting through the claims? have the sped things up or is it getting slower?

They dealt with part of my claim within 3 weeks and I received £1300 back from one of my credit cards.

Egg_Chaser_12

studapples wrote: »

They dealt with part of my claim within 3 weeks and I received £1300 back from one of my credit cards.

did the FOS ask whether or not you had finacial difficulties?
I have now been waiting about 10 months since first complaining to MBNA and 7 months since then forwarding to the FOS

amersall

stressedbusymum wrote: »

I guess i will just have to wait and see what egg comes back to me with. I defaulted on the loan in early 2009 and had it readdressed with lower payments, longer period of time. He said some ppi had been reembursed and would go towards the balance of the new loan but that they would not be able to offer ppi cover on the new loan. Is this because they could no longer sell or provide ppi. Will this amount of i think it was a little over £500 be deducted off any payment that may be made to me. Also will they use the money to pay off debt still owed to them which stands at a little over £3000 or should i get a cheque. Could they forward this on to Moorgate as they took over my loan last year, does this make reclaiming more difficult or are they legally liable?

I will give Halifax a ring tomorrow and see what they say.

Im hoping all this is going to be simple but im betting im gonna have to work for it.

When you had this loan readressed, the PPI on this loan would have given you a rebate of the PPI, you need to find out what the total PPI was on loan one and what was used to reduce the balance of the second loan, contact them and ask for the breakdown of each loan, unless you have these already.

The PPI from the first loan would have given you a rebate of the PPI at settlement, you need to know what remaining PPI you paid back to loan one.

Some take any win off the debt, others pay it back to you, having not dealt with Egg myself, I do not know what they will do with this.
Your claim will be looked at regardless of who it is now with, wait and see what Egg come back with.

amersall

stressedbusymum wrote: »

Another question for anyone in the know.

I have overfraft protection with my barclays current account. I am finally out of this overdraft so wish to cancel the protection as you have to pay for it whether you are in the overdraft or not.

I phoned up to be told i couldnt do it over the phone i would have to go to a branch. Went to my local branch and asked the cashier, she said she is not authorised to do it, i would have to book an appointment with the manager. This will involve looking at my account in great detail.

Question is can they force me to keep it?
Can they take my overdraft off me if i go ahead and cancel the protection?

My meeting is next tuesday morning and im not looking forward to it. Surely if they call you non stop to take out the cover it should be simple to cancel over the phone.

You need to go to the appointment and let them look at your account, I would think the only way to get this PPI cancelled would be to have the overdraft removed from the account, they cannot charge you the PPI then.

amersall

They have added A and B and said that £3,647.71 will be made towards my outstanding debt and sent me a cheque for £1,097.53, which is the interest calculated at 8%.

My questions are:
1. Should they have added the total carge for credit for the PPI of £876.11 (shown in red above) to the PPI premium in A?

2. With regard to the calculation of interest at 8% on the figure A (shown in blue above), should this run from the date when the loan was taken out i.e. 19th March 2004 up until the date of the settlement letter of the Barclays Bank i.e. 30th May 2012?

1) Yes they should as this is the interest on the actual PPI

2) the 8% is on a decreasing from the start date of the loan to the date they pay you out, each monthly PPI payment that you made, the 8% will be less each month so the nearer you get to the redress date, the less the 8% amount is.

Have they taken the whole PPI amount and interest off the loan balance as well as taking this back to the loan from the redress?, were you in arrears with this loan and is it still running?.

The redress they have given you is correct by the way.