PPI Reclaiming Discussion Part 5

donttakeit

Hi all, in process finally to reclaim miss sold ppi going back to 1997 ! I paid £1663.20 in total ppi payments - company have offered £1663.20 total, my question is : how much interest am I due ? if it is 8% this would be £133.05 or should it be 8% per annum ? I can not find a definate answer anywhere - I am told it is worked out in simple interest and not compound interest ? Is there a simple way or formula to work this out please ? I have been offered £1796.26 ( £1663.20 x 8% £133.05 total £1796.26) I am ready to accept a payment but dont want to get it wrong ! as the offer states "in full and final settlement" in other words - no going back, any help would be appreciated.
This has been hard going but it looks like it has been worth the effort - This is the final point that will wrap this up, and if/when I receive the ammount - I will post the details as I have been told by everyone (including on this forum) that I was wasting my time trying !
Many thanks

donttakeit

C20AER wrote: »

Hi just looking for advice from anyone been in similar situation. Tried to claim PPI back from HFC after taking out a loan through Beneficial Finance in 2004. Loan was paid off in 2007 & the back account I had at the time is now closed. I have all original paperwork which has been copied & forwarded to HFC twice who insisted on back statements also. BOS advise that account has been closed for such a number of years they cannot provide any bank statements to me. HFC also say they no longer have records regarding the loan so have turned me down. Will need to go to FOS now but just find it frustrating!! Original paperwork doesn't seem to be enough for them!

Hi, just had offer of all ppi payments on car hp from 1997 ! The car company are no longer trading, the finance co. have been taken over, the underwriters of the ppi are the ones who have made me the offer, If you are not getting anywhere - photocopy all your paperwork and send to FOC with cover letter - they have all the information on finance companies etc., and they will help.
The main thing is DO NOT GIVE UP ! I was told by everyone I had "no chance" even on this site ! and after all this I am about to receive nearly £1800.00 if youve got the paperwork = you have the proof - do not give up ! Good luck.

[Deleted User]

donttakeit wrote: »

! I was told by everyone I had "no chance" even on this site

I think you received one reply from this forum telling you there was no one to complain to.
That's hardly "everyone".

Pharaoh

Hi to one and all


My older brother has recently put in 17 different claims for a host of loans, store cards and credit card charges with a PPI claims company. He won't do it himself because he is a business man with no time to do all of those claims on his own. I offered to help, but I'm glad that he turned me down as it does look mind boggling.


My older sister recently got back just under £20,000 by doing the claim on her own for PPI payments made on two past bank loans, and I got £235 back on a small loan from 2005.


Inspired further, I want to do the same regarding PPI payments for 20 odd years of mortgage payments. I understand that claims on PPI's linked to mortgage payments are not so 'out of order' as those on loans etc, and the further you go back in time, the least likely your claim will be successful.


If someone could help I would be grateful. I started the 25 year mortgage with Nationwide Anglia (shared mortgage scheme) in September 1987 and divorced in 1993 whereby the mortgage was placed into my sole name in March 1994 I then managed to pay it off in September 2007 I have been told by one PPI claims company that I don't really have a prayer because my Mortgage/PPI payments started just before the FSA regulations came into force on 29th April 1988
Is there any hope, or will it be futile even attempting to put in a claim on my own ? Or is there another course to take ?


Finally, as it's question time, does anyone know of reclaims on Legal aid public funding. In essence, it was a loan. I had one in 2004 that was paid off in 2009 with heavy added interest to pay over those years. I'm not certain if insurance was involved but I'm yet to find the paperwork to review how it all worked. I'm going to get into the attic to search, will be back later cobwebs and all. Thanking you in advance.

donttakeit

Moneyineptitude wrote: »

I think you received one reply from this forum telling you there was no one to complain to.
That's hardly "everyone".

Hi, thanks for your reply, yes I only had one reply from this forum BUT I had at least 10/12 answers from various financial companies who all said the same thing - including "barred by statute" and "we have no record of any transaction with you" I was also told that "we are bound by law that we have to shred all information records after 6 years" and a few other reasons why my claim was a complete waste of time - but if someone puts a wall up in front of me - if I am right, I will either go over it, go round it or smash it down - If I am right I am right - If I am not right I will hold my hands up and say sorry ! So yes I only had one reply on this forum, but plenty from "everyone" as I stated - Thanks for your reply

Helen36

Success story claiming from Natwest.

I've just received offers on three loans, dating from 2000. It's taken two weeks from making the phone call to receiving an offer, and my reason for mis-sale was that I was either a student or a part-time student when PPI was added to my loans. Natwest / RBS have been no problems at all to deal with and the whole process has been amazingly quick and simple.

It's not life changing money by any means, but I can clear my credit card and get a step closer to being debt free, which is fantastic.

Thanks to those who have contributed advice to this thread for giving me the know-how to go for it.

laneycakes

Hi All.

Well after about 15 months of an FOS complaint barclays have finally agreed to make me an offer re: 2 loans from 2000/2001. I had a letter from the FOS asking if i was prepared to consider barclays offer and if so i'd recieve details direct within 8 weeks...but im intrigued to know how much i'll be offered (impatient soul that i am!) so i've done the calculation below - anyone know if its about right?

They are considering both loans as one complaint (the first one was paid off 2 months early and effectively topped up).

So first loan (aug 2000)was for £500 (APR 17.9%)over 12 months the PPI payment was £45.09.
Second one (june 2001) was for £2000 (APR unknown but total paid back was £2754) over 30 months PPI Payment £286.73

So i'm assuming i'd get £45.09 + £286.73 = £331.82
Plus 8% standard interest/compensation = Approx £26

so around £360?

Should I also add any interest/APR?

any help much appreciated.
Thanks. Laney

[Deleted User]

laneycakes wrote: »

So i'm assuming i'd get £45.09 + £286.73 = £331.82
Plus 8% standard interest/compensation = Approx £26

so around £360?

Definitely worth the wait!:D

laneycakes

Moneyineptitude wrote: »

Definitely worth the wait!:D

Absolutely! its going to pay for my VW bug's new tyres!

Lady_Daisy_2

Hi... I sent a claim to LloydsTSb on 10th November 2012 relating to 2 PPIs I was sold in 1996, quoting the policy numbers. I received a letter very quickly saying that these accounts didn't exist, but they misquoted the numbers. I then sent in copies of my bank statements with the policy numbers and the PPI payments coming out. But I haven't heard anything since. I phoned a couple of times but they say that because it was an 'appeal' it takes longer than the 8 weeks they quote.
I phoned again a couple of weeks ago and asked them to escalate which resulted in a letter apologising but no idea of when the matter would be resolved.
I wonder if this is a typical timescale? Is there anything else I can do or should I just wait it out?
Thanks
Lady D