PPI Reclaiming Discussion Part 5

amersall

Would anyone know how much I'm likely to get back, the loan was £51.000 & PPI was £10,164. Taken out 9 Sep 2002 paid off 19 Jan 2004. Apparently I had no rebate on the PPI when the loan was settled.

As you only paid 16 months of the actual PPI when you settled the loan they would have given you a rebate of the PPI, as this is Single Premium PPI they have to rebate this back to the loan, the remaining PPI would have been paid by you in the settlement figure, so you will get the whole PPI back, less the rebate they gave you at settlement, the PPI that you actually paid and the 8% plus the remaining PPI after the rebate that you paid back in settlement.

amersall

needhelpplz wrote: »

Hi Amersall

Thanks for your help. First Plus have now accepted responsibility for selling the loan and have reopened my complaint
Thanks

Let us know when they uphold and what they are offering you.

Mark2spark

Hi all, I've been searching the site but there's so much stuff on PPI I can't find what I'm looking for, which relates to my circumstances.
Being Self emp, i've always refused PPI, and have never knowingly had it. Is it true that credit card companies have secretly been charging for this? There's absolutely no indication whatsoever on my statements that there is any other charge than 'regular' interest. Barclaycard, Citibank, and MBNA are the main cards that i'v had on-going balances with over the years (more than 10 years), quite often they would have been interest free or low interest deals as part and parcel or surfing between cards via balance transfers.
I just can't find anything that supports an indication of me having been paying any sort of PPI, so don't know if i've been charged it unknowingly. Pretty sure I would have spotted it in my original T & C's when taking out the cards all those years ago if they were adding it.
Thanks in anticipation.
Mark

amersall

trigger513 wrote: »

Hi
I had a loan with northern rock and also made a purchase with a store card through first national about 7-8 yrs ago and not sure if i was misold ppi, the only details I have are on old bank statements, specifying the amounts, details etc, will these details be sufficient in my template letter, not sure if this is the account number or not,
Please help!
Thanks

Send NRAM an email with the complaint, give as much info as you can regarding the loan and see what they come back with, The reference on the bank statement may be the bank reference but if you give the loan amount and the monthly date and payment NRAM may be able to find you.
Do the same with FN, I do not know the address or contact for these though.
customerrelations@n-ram.co.uk

amersall

Mark2spark wrote: »

Hi all, I've been searching the site but there's so much stuff on PPI I can't find what I'm looking for, which relates to my circumstances.
Being Self emp, i've always refused PPI, and have never knowingly had it. Is it true that credit card companies have secretly been charging for this? There's absolutely no indication whatsoever on my statements that there is any other charge than 'regular' interest. Barclaycard, Citibank, and MBNA are the main cards that i'v had on-going balances with over the years (more than 10 years), quite often they would have been interest free or low interest deals as part and parcel or surfing between cards via balance transfers.
I just can't find anything that supports an indication of me having been paying any sort of PPI, so don't know if i've been charged it unknowingly. Pretty sure I would have spotted it in my original T & C's when taking out the cards all those years ago if they were adding it.
Thanks in anticipation.
Mark

Hi, if there is no "insurance" or "credit care " amount on any statements then you had no PPI, if you had it there will be a payment amount each month that states this.

ALgirl

amersall wrote: »

As you only paid 16 months of the actual PPI when you settled the loan they would have given you a rebate of the PPI, as this is Single Premium PPI they have to rebate this back to the loan, the remaining PPI would have been paid by you in the settlement figure, so you will get the whole PPI back, less the rebate they gave you at settlement, the PPI that you actually paid and the 8% plus the remaining PPI after the rebate that you paid back in settlement.

Amersall, thank you for responding, do you have any idea on what kind of rebate FP would have given as I ended paying them £63,000 when I settled the loan? Would it have been the total PPi minus the 16 payments I had already made?

Mark2spark

I thought as much Amersall, thanks for that. I had a cold call from a PPI firm that said that the credit card co's *hid* this sort of monthly cost and that I wouldn't have known that I'd had it, thought it was a porkie lol
Thanks again.

amersall

ALgirl wrote: »

Amersall, thank you for responding, do you have any idea on what kind of rebate FP would have given as I ended paying them £63,000 when I settled the loan? Would it have been the total PPi minus the 16 payments I had already made?

Sorry I don't know what the rebate would be, when they give you the figures it should show the rebate at settlement as they have to take this off.

The rebate is on a pro rata basis, this gives you £x back when the loan is settled or the PPI is cancelled, the earlier you settle the more rebate they give.

You will still get a nice amount back, you have the 8% and the 16 payments that you made with the interest and the PPI they took off you in the settlement figure after the rebate.

amersall

Mark2spark wrote: »

I thought as much Amersall, thanks for that. I had a cold call from a PPI firm that said that the credit card co's *hid* this sort of monthly cost and that I wouldn't have known that I'd had it, thought it was a porkie lol
Thanks again.

You are welcome x.
Claims cos will say anything to make you go with them

Nanjay

Hi, a friend of my late husband's claimed mis sold PPI of £1,200 from Lloyds TSB relating to his Mum who died in 2000. they acknowledged and issued a cheque made payable to his Mum. He returned it and asked them to redraw in his favour and they now say they want Probate which would cost £800. His Dad was his Mum's direct beneficiary and he died the following year. I think he might have Probate to his Dad's estate but this all seems quite unreasonable. any suggestions, please? For some reason he values my advice but I am quite stumped.