PPI Reclaiming Discussion Part 5

-taff

thefosterkid wrote: »

Should I write to HSBC General Insurance Services to get the details of the terms first?

your loans are closed so they won't give you them anyway.
Just fill out a complaint form with the account numbers

stu1960_2

Moneyineptitude wrote: »

My point is that it won't take a full adjudication from FOS to force them to pay up if they've already agreed to do so.
However, someone at FOS may be able to "encourage" them to pay up more quickly if you approach them.
I didn't mean you should refer your upheld complaint to them, just ask if they have any influence with regards tardy payment.
Why not contact them and see what they say? You have nothing to lose...

I thought the same, I rang FOS a couple of weeks ago and explained my situation, all they offered was to log a complaint and put me in the system.
Looks like my only option is to continually harass / chase /pester/ annoy Barclays.

amersall

nikig1 wrote: »

We have been repaying this loan since 2008. They paid us just over £6000 for this loan (payments we had already made) plus the 8% interest.
We received a letter today saying that we have had a 'partial repayment gross amount = £3057.87' leaving us with a total of £7077.21 left to pay off.
Our monthly repayments have dropped from £341.53 (revised payment after the £880 rebate) to the newly revised payment of £239.41 per month. Initially, with the PPI we were repaying £368 per month since 2008.

I don't understand where they got the £3057.87 figure from or why it is a 'partial repayment gross amount' and not a total repayment of the whole PPI total.

As I do not have the figures and presumably you do, you need to know the exact amounts of.
1 The PPI total amount with interest

2 The total loan amount with interest

3 The loan start and end date

4 The months that you actually paid the PPI

5 The date you cancelled the PPI

6 What the loan amount owing was left after the cancellation of the PPI

5 What the total reduction amounts were taken off the loan

If you don't have these figures ask the bank for them.

The new loan monthly payment you have now is taken from the original loan payment at the start date, they reduced this when the PPI was cancelled and you have a second reduction now.
The original loan payment was £368.41 it is now £239.00 this has saved you £129.41 so they have taken the whole PPI monthly amount off, ask for a breakdown of the whole loan rebates and this should show you they have given the correct redress.
If you get the figures I can help to show you how this worked out.

jdwmfc

HSBC update

Hey all it has been a while, glad to see you are going strong helping others.
Just a quick not to say that when I had a little issue with HSBC you would be amazed at how fast they responded when I contacted the Chief Exec. (4 hours) from then on in It was almost like having my own personal bank manager.
It was almost, no forget that, it was totally impossible to contact the HSBC PPI complaints department through any other means.

So if they are being a pain and their time is up then an email to the top boss cant hurt at all.

financiallyembarrassed

I had credit cards with Halifax and Barclays which had PPI on them.On both of them I now realise that I was missold (selfemployed), (Health problem) etc.,.

Due to a change in my income I struggled to pay just the interest on the outstanding balances. In the end they both set their recovery mobs on me. I faced up to them and got them to agree to accept a very low one-off settlement payment each, (approx 30% of the total outstanding), and got them to accept this with no further claim possible against me.

Can anyone tell me if I make a claimfor PPI against them can they use any PPI due to me to offset the reduction in the debt I originally had with them?

nikig1

Hi Amersall, I have inserted the figures next to each point, could you explain how they worked it all out for me please? Many thanks for your time and patience.

amersall wrote: »

As I do not have the figures and presumably you do, you need to know the exact amounts of.

1 The PPI total amount with interest £7177.80

2 The total loan amount with interest £30864.12 inc the above PPI amount

3 The loan start and end date sept '08 - Aug '15

4 The months that you actually paid the PPI 49 mths

5 The date you cancelled the PPI Sept '12

6 What the loan amount owing was left after the cancellation of the PPI £11310.10

5 What the total reduction amounts were taken off the loan £3891.26

If you don't have these figures ask the bank for them.

The new loan monthly payment you have now is taken from the original loan payment at the start date, they reduced this when the PPI was cancelled and you have a second reduction now.
The original loan payment was £368.41 it is now £239.00 this has saved you £129.41 so they have taken the whole PPI monthly amount off, ask for a breakdown of the whole loan rebates and this should show you they have given the correct redress.
If you get the figures I can help to show you how this worked out.

dunstonh

financiallyembarrassed wrote: »

I had credit cards with Halifax and Barclays which had PPI on them.On both of them I now realise that I was missold (selfemployed), (Health problem) etc.,.

Due to a change in my income I struggled to pay just the interest on the outstanding balances. In the end they both set their recovery mobs on me. I faced up to them and got them to agree to accept a very low one-off settlement payment each, (approx 30% of the total outstanding), and got them to accept this with no further claim possible against me.

Can anyone tell me if I make a claimfor PPI against them can they use any PPI due to me to offset the reduction in the debt I originally had with them?

If you made a complaint and succeeded then the lenders can use the redress payment against the debt written off. You wouldnt see the money unless it exceed the amount written off. In which case you would get the surplus.

Do note that most PPI does cover the self employed. It is a significant minority that does not. Also health conditions have to be severe enough to virtually invalidate sickness cover on the policy. e.g. a bank complaint would see someone unable to claim for sickness due to back complaints or issues arising from that but they could still claim on other medical issues. That is fine. However, if the condition was say cancer, then you would find the policy would almost certainly have no coverage available and that would be a mis-sale.

pop_gun

I personally have wasted alot of time and money chasing a missold ppi claim. I'm ready to let a cmc handle the claim for me.

http://m.bbc.co.uk/news/business-17792044

Is the general public so naive as to believe the banks have our best interests at heart where ppi is concerned?

-taff

I'd be surprised if a cmc handled a complaint you've already complained about and had rejected.

pop_gun

-taff wrote: »

I'd be surprised if a cmc handled a complaint you've already complained about and had rejected.

My first attempt at using the fos was for a failure of the bank to refund an item covered under a ppi. The fos rejected it saying there was no loss despite me having a court order against the company who failed to refund me my money. This time I want to claim for the ppi and not the loss.