PPI Reclaiming Discussion Part 5

amersall

maumau wrote: »

I'm being inundated with phonecalls about reclaiming PPI. I'm totally confused about this. I have store cards and a credit card, but I have always paid the amount owing in full every month. Therefore I am just paying for the goods I have purchased. Is PPI something which can be added if you don't pay your bill in full every month? Some calls have said I may be due something back even if I have paid my card bill in full every month - I'm confused!

If you had PPI it would show on every monthly statement, do as moneyineptitude said and hang up on these companies.

Catty212

amersall wrote: »

A credit check will show the company name and the last 4 digits of the account numbers, you could try using these to make a claim, failing that you will have to Sar.

thanks for the response. I have SAR;d already but the details arent very helpful and they reckon they cant provide account nubers as the loans have beenpaid off. Think il try a credit check for further info and go from there

amersall

Originally Posted by trio72
Can anyone help me?

I have had a letter from Blackhorse Finance(April 2011) to say they are going to pay me redress on my PPI. They would not tell me how much and said "you need to send back an signed acceptance before we can let you know how much we are paying you". I called the FOS and they advised to call them again which I did and got told the same thing. I called the FOS back and they said to sign the acceptance as I could always decline the amount. 2 weeks late a cheque arrived with an amount I did not understand(I will explain in a minute). Again I called the FOS who advised to send the cheque back explaining why, I did this and to this day I have still had no reply. I rang Blackhorse only to be told "that is the final offer". I sent all the paperwork I had to the FOS in August 2011 disputing the amount and asking for help. They did not get to my case until last month. I have asked them if they think the redress is correct and the person dealing with my case is not sure, he is trying to explain to me what Blackhorse have told him but I really do not understand it. This is my case:-

Loan amount £16,000.00 08/04/04 - £249.39 monthly
PPI amount £5955.40 08/04/04 - £92.83 monthly

My statement shows an opening balance of £21,995.00, the loan was paid off on 14/02/05 10 moths after taking out the loan. The amount paid to settle the loan was £19,081.35 which includes a minus figure of £3,002.76 for settlement interest. So I had the loan for 10 months and made 10 monthly payments of £342.22 and paid back £19,081.35 to settle a loan of £16,000.00.

The letter I got from Blackhorse showing how my redress was worked out is as follows:-
Total sums paid towards cost of policy via monthly instalments £742.64
Sum paid towards the cost of the policy within early settlement figure** £1756.22
SUB TOTAL £2498.86
8% statutory interest £1267.45
TOTAL REDRESS DUE ££3766.31

Now this is what I don't understand the figure with the ** has a footnote on the letter "Even though your agreement has been paid in full, you have not paid the full cost of the policy as shown on your agreement as we gave you a rebate of £4564.99 when you early settled the agreement".

If someone can tell me if this is correct or not I would be that would be great as this has been going on for nearly 2 years and has been with the FOS for 10 months who still cannot explain to me what the figure should be.

Here you go.

PPI total 5,955.40 less the rebate 3,002.76 leaves 2,952.64 PPI not paid by you at settlement date.

You paid 742.62 for the PPI months that you paid and the 1,756.22 they took in the settlement for the PPI after the rebate, leaving remaining PPI of 453.80, this is PPI that you did not pay so they do not give you this back.

They have given you the PPI back that you actually paid the 1,756.22 and the 742.62 plus the 8%.

rubymaggot

Hi, I have just used the forms and procedure on this site to apply to have the ppi refunded on a couple of old loans. These old loans were settled in 2007 but at that time I was in a debt management plan and I agreed with the lender to settle the loans but only repaid about 40%. I have the letters stating that the 40% payment is the final settlement and that the loans are now settled.
My question is, will the lender be able to use any ppi payment I get to repay the 60% of the loan that was written off? or is it the case that it was settled and regardless of the fact that the sum repaid did not cover the amount owed a settlement figure was agreed at that time?
Thanks in anticipation.

fight_the_power_2

I have not been on here for a while and would just like a bit of advice please ,i took out a loan in 2005 with cahoot and was paying £28.75 per month ppi i paid the loan off and cancelled the ppi in march 2007 i have sent santander the only paperwork which i have and they are claiming they need the credit aggrement number and it seems that the paperwork i have does not have any numbers on it ,i have email proof of the start and finish of the loan and the cancellation of the ppi ,would jyuist like some advice on what i can do next ?? thanks

foolsgold77

Hi

I have been searching the web regarding PPI Claims in Southern Ireland and cannot find anything without being diverted back to UK websites.
Basically I want to know is the same thing happening over there regarding Mis-Sold PPI as it is in the UK. I have an MBNA in Ireland (republic) credit card and I have paid PPI.:mad:
Any information would be very much appreciated.
Thank you in advance

trio72

amersall wrote: »

Here you go.

PPI total 5,955.40 less the rebate 3,002.76 leaves 2,952.64 PPI not paid by you at settlement date.

You paid 742.62 for the PPI months that you paid and the 1,756.22 they took in the settlement for the PPI after the rebate, leaving remaining PPI of 453.80, this is PPI that you did not pay so they do not give you this back.

They have given you the PPI back that you actually paid the 1,756.22 and the 742.62 plus the 8%.

I really do not understand, how can I not get it back as I have not paid it?

Where has that money gone and who paid it.

This is my understanding:-

Loan £16,000.00
PPI £5955.40
Total loan £21,955.40
Rebate on settling total loan £3002.76
Monthly PPI payments made £742.62

So therefore I have paid £2952.64 (includes rebate) plus monthly payments of £742.62, this in effect is what I understand that I have paid for the PPI on the loan. Is this correct or am I looking at this in the totally wrong way?

chrisd2764

Put in a claim to MBNA for mis-sold PPI and today got notification that they were sending me a cheque for £1243.03 ... result!

An easy process that has taken me no longer than two hours to complete and was worth the price of the stamp to send it - to everybody else thinking about it ... do it! the worst that can happen is they knock you back (which was how I was thinking) with the alternative being to get back what you paid and interest as well!

Thanks Martin for leading the way with this, much appreciate it!

trio72

trio72 wrote: »

I really do not understand, how can I not get it back as I have not paid it?

Where has that money gone and who paid it.

This is my understanding:-

Loan £16,000.00
PPI £5955.40
Total loan £21,955.40
Rebate on settling total loan £3002.76
Monthly PPI payments made £742.62

So therefore I have paid £2952.64 (includes rebate) plus monthly payments of £742.62, this in effect is what I understand that I have paid for the PPI on the loan. Is this correct or am I looking at this in the totally wrong way?

Can I just add that my opening balance on my loan was £21,955.40 which was £16,00.00 Loan and £5955.40 I paid 8 months of £342.22(loan £249.39 PPI £92.83) which is £2737.76 and a rebate of £3002.76 I still paid back £19,081.35.

thealfster

hi all,

just joined the forum so please excuse me if on wrong thread,just wondered if anyone could give me some advice. i had a store card for willis ludlow which later changed to allders and i know i paid alot of ppi on it but dont know who to contact any help would be greatly appreciated thank you