PPI Reclaiming Discussion Part 5

[Deleted User]

rubymaggot wrote: »

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?

In a word, yes.
Even if your complaint is successful, you won't see a penny personally.

[Deleted User]

trio72 wrote: »

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

You only get back what you actually paid in PPI, plus 8% simple interest.
Your lender (and Amersall:)) have worked it out correctly for you.

ben80

chrisd2764 wrote: »

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!

Can I ask how long they took to get back to you? Also, did you just send them the Questionnaire from this site?

I ask because I've sent a SAR and intend to persue a claim against MBNA soon after!

Bigcammy

10 minutes to complete the form, 5 minutes to photocopy my loan documentation, the price of a large second class and 4 weeks later Ulster Bank are happy to stump up £541, all my PPI for my personal loan 7 years ago plus 8% interest, thanks https://www.moneysavingexpert.com!

trio72

Moneyineptitude wrote: »

You only get back what you actually paid in PPI, plus 8% simple interest.
Your lender (and Amersall:)) have worked it out correctly for you.

But how do you know what you actually paid?

katiep1976

Hello all

My husband's put in a claim for ppi on a Burtons store card he had between 1996 and 2009. This was originally run by GE but now Santander deal with them. Anyway, we've had two letters, one saying they needed more time and would get back to us in a month, the next saying they needed even more time and would get back to us in 2 weeks. The latter invited us to go to the Ombudsman if we wished. We've now received a third letter, saying claim won't be upheld as we would have been given info in the T&Cs originally and had 30 days to cancel it. Our claim centred around the fact that the PPI was not explained at all when he took out the card, but they say there is no indication that weren't selling properly at that time and as they don't have records of each sale back then, then basically tough. They say its the final decision but we can go to the Finance Leasing Assoc if we wish.

We want to continue, unless anyone thinks there is anything in our claim which makes it unlikely to stand up? I do appreciate that prior to the mid 2000's it may not have been regulated, but does this mean they're untouchable? I've also seen that GE Money have already been fined for this kind of thing, so I'm not really sure how they can say they're sure the right processes were followed? But I'm confused if we should be going to the Ombudsman, or to the Finance Leasing Assoc? Or should we have gone to Burtons, rather then Santander? And whoever we go to next, do we just send a copy of the claim questionaire, letters from Santander and a covering letter saying we wish to appeal?

Thanks in advance for the help.
Katie

[Deleted User]

trio72 wrote: »

But how do you know what you actually paid?

They told you that in the redress letter!

mama267

Hi
I put in a claim with ltsb for 7 loans over the years, one being for around 30,000 received a cheque this morning for 13,349 said I had received a letter dated 31st may, but we hadn't would this be for them all as it doesn't say thanks Sarah

trio72

Moneyineptitude wrote: »

They told you that in the redress letter!

That is why I have posted on here because the figures do not add up even the FOS cannot understand them. I just need to know how it is worked out if anyone knows.

goonlecker

Hello!

Been trying to read as much as I can on this board (great stuff!)

can someone please confirm I have got this right in my head?

My T&C's on my loan shows the following,

Loan repayment
£69.00 per month

Insurance repayment
£9.95 per month

Total Monthly payments x 24
£78.95
This is the Direct debit figure I paid each month. £69.00 + £9.95 = £78.95

Is this what you would describe as a front loaded Single Premium Insurance?

Thanks
Newbie.