PPI Reclaiming Discussion Part 5

lmackreath

Moneyineptitude wrote: »

It means that because you settled the loan earlier than the original schedule you have already received a rebate on the PPI you would otherwise have paid.

The Bank are offering you full redress in line with FSA guidelines.
Accept the offer and well done on your success.

sorry I am still confused by the above.

I have received the same letter today and not sure what the "less any previous rebate paid" means

My loan is still live but I cancelled the ppi on it 4 years ago. I assumed this rebate amount minused off my compensation total was egg using some on my compensation to automatically pay off the outstanding balance on my loan.

I assumed this because the rebate amount and my settlement figure are almost identical. I also assumed that the first thing egg would want to do with any money they give me is take as much of it off me as possible to pay back what I still owe them...or am I wrong and my loan is still active and is yet to be paid off by this settlement?

abbey136

Need help - I took out a credit card with the Halifax in 2003. Then I was only young and had no interest in insurance. I was in a full time government job and was entitled to 6 months full pay and 6 months half pay if I had to be off work due to illness.

I don't remember the Halifax ever explaining what PPI was for and why I should take it out and I don't remember agreeing to it. I contacted the Halifax and asked for a copy of my signed agreement and have been told they cant find it. I requested a copy of my Terms and conditions and it has no mention of PPI. They have told me I requested it verbally, which I never did. Do I have a case?

lilminx74

Hi all,

I claimed for 2 Santander loans I had years ago, 1 in 1999 for £7k and cleared with another loan from Santander in 2001 for £15k all have been paid off now. I recieved a letter from them stating they could not uphold my claim as there was no reason given for the complaint, even though this was done over the phone and I did say on there that I still had the paperwork (luckily) which shows a pre-ticked box on the agreement. Nothing was explained to me which I also stated, It was just there! I keep ringing them every week to see how my claim is progressing and they just say it's being dealt with....how long should I give them and any idea what I should be looking at for a refund (if any)....just so I know if they decide to try to fob me off as I have heard this happens quite often.

Thanks in advance for any help or advice given

BashfullB

nee666 wrote: »

If you've got the information of the last loan you stand a chance, you need to word a letter very strongly to point out that the 2003 loan was the last in a consolidation chain & that as its a chain they should deal with all the loans in the chain, I'm sure somebody on here will give you the technical terms you need to quote,
When did the 2003 loan finish?

Thank you for your reply.
I was able to pay off the loan in November 2004. Between 1998 - 2003 I think the total loan was £8,000, but I am not sure about the interest ect. I was able to pay the final £1,500 off before it ended. I have the letter about my PPI and its number as it was updated in 2003.
I would appreciate help with how to word the letter as I am totally useless at these types of things.
Thank you

Berni

avvers

hi,

i made a claim of mis-sold ppi against virgin/mnba. i contacted them to see had they received my form. i was informed that a letter was on its way offering £586 refund on a £3,000 credit card debt (4 yrs old) is this about right? (i am awaiting letter & financial breakdown.)

thanks

amersall

Moneyineptitude wrote: »

Joe Bloggs is definitely not the CEO of Barclays.;)
Private message Amersall or Di3004, they usually keep up to date with the (frequent) changes to these E-Mail addresses and MSE doesn't like them posted on the forum.

Just given the email to the op, by PM

amersall

avvers wrote: »

hi,

i made a claim of mis-sold ppi against virgin/mnba. i contacted them to see had they received my form. i was informed that a letter was on its way offering £586 refund on a £3,000 credit card debt (4 yrs old) is this about right? (i am awaiting letter & financial breakdown.)

thanks

Credit card redress is worked different to loan redress.
Your card will have been reset to zero balance, any month the card was in credit would not have PPI or interest taken, wait fir the calculations and see what they did.

If you had any statements that showed the PPI you actually paid, add them up and see if the figure tallies, if it does not then send copies of the statements showing the PPI you paid and ask them to correct.

amersall

BashfullB wrote: »

Thank you for your reply.
I was able to pay off the loan in November 2004. Between 1998 - 2003 I think the total loan was £8,000, but I am not sure about the interest ect. I was able to pay the final £1,500 off before it ended. I have the letter about my PPI and its number as it was updated in 2003.
I would appreciate help with how to word the letter as I am totally useless at these types of things.
Thank you

Berni

All you have to say is
I believe I was mis sold the PPI on the above loan account, that was a consolidation of a previous loan and also a loan before this, because... and give the reasons, if you paid the PPI in with the loan payment each month and not as separate payment, this is Single Premium PPI and one of the reasons that you can use.

amersall

abbey136 wrote: »

Need help - I took out a credit card with the Halifax in 2003. Then I was only young and had no interest in insurance. I was in a full time government job and was entitled to 6 months full pay and 6 months half pay if I had to be off work due to illness.

I don't remember the Halifax ever explaining what PPI was for and why I should take it out and I don't remember agreeing to it. I contacted the Halifax and asked for a copy of my signed agreement and have been told they cant find it. I requested a copy of my Terms and conditions and it has no mention of PPI. They have told me I requested it verbally, which I never did. Do I have a case?

PPI on a card will often not show on the agreement as it can be added a later date, as they are saying is the case with yours, if you have the card number and reasons for mis sell then put the claim in.

amersall

Lmackreath wrote: »

sorry I am still confused by the above.

I have received the same letter today and not sure what the "less any previous rebate paid" means

My loan is still live but I cancelled the ppi on it 4 years ago. I assumed this rebate amount minused off my compensation total was egg using some on my compensation to automatically pay off the outstanding balance on my loan.

I assumed this because the rebate amount and my settlement figure are almost identical. I also assumed that the first thing egg would want to do with any money they give me is take as much of it off me as possible to pay back what I still owe them...or am I wrong and my loan is still active and is yet to be paid off by this settlement?

Sorry for "butting in".
When you cancelled the PPI the rebate is what they gave you off the loan, check that the rebate came off the loan when you cancelled, as you have won mis sell, they must now take the whole PPI amount off the balance of the loan, your monthly payment should go down by the PPI monthly amount, make sure they do this, the rest of the money should come to you unless you have arrears, is it likely that the whole original PPI amount will clear this loan?.