PPI Reclaiming Discussion Part 5

ridingwood

We have now been satisfied by an explanation of how the repayment offer is worked out and are going to accept tomorrow..Does anyone know if you can just walk into another bank/building society when the cheque arrives and open another account? Thanks.

[Deleted User]

ridingwood wrote: »

.Does anyone know if you can just walk into another bank/building society when the cheque arrives and open another account? Thanks.

It's your money, do what you want with it.
You do realise that every bank was guilty of mis-sold PPI? You are just swapping one crook for another.

dimimonkey

When i bought my first flat I was sold Critical Illness and Mortgage Payment Insurance by the Mortgage Broker (pushy bloke). The policies were with L&G but in the mortgage broker small print it said that they (broker) charged a 2% arrangement fee - waived if policies were bought. So that's what I did. What i didn't realise (also in small print) that was this applied for 48 months i.e if i cancelled the policies within 48 months i was then liable to pay the arrangement fee.

What happened was I sold my flat within a year as i got a new job in a different area - I rented for over a year in my new place but I was paying these policies for 4 years - despite not actually having the mortgage anymore.

Was i mis-sold?

Thanks

-taff

No, you just didn't read the paperwork properly.

-taff

Moneyineptitude wrote: »

You are just swapping one crook for another.

Bank of Dave then?

dimimonkey

yes but if it says on these threads that if you felt you had to do it or were coerced....so surely the paperwork is irrelevant? isn't it just your opinion of was you consider to be pushy?

tourettes

Hello, firstly I must say thank you to all that have posted on here about claims as they kicked my behind into gear with regards to my claim.
I claimed on 2 loans with PPI from Lloyds bank one was partly upheld and the second was upheld for a total of £3854.54.

I am in arrears with payment due to unemployment, they closed down the accounts and took me to court, so I am now paying as much as I can afford.
the decision letter states they will make arrangements for payment to resolve the matter, this payment will be made within 28 days by cheque sent to your home address or direct to your account, and therein the question:
Will they send me a cheque or will they deduct the money I owe them which is being handled by a collections department as the accounts are closed?

Either way it's almost like something for nothing, so I'm not too bothered, but 28 days is a long wait.;-)

once again thanks if you made it all the way through that, and I will post my result in the other thread when it all becomes final.

hulk_smash

hello everyone!

Can someone please tell me why ppi interest is calculated at 8% when my contract shows ppi interest was 15%??

many thanks!

[Deleted User]

hulk_smash wrote: »

Can someone please tell me why ppi interest is calculated at 8% when my contract shows ppi interest was 15%??

Full redress is a refund of any PPI paid and interest incurred. The 8% is an additional amount, paid as compensation for mis-selling.

amersall

the decision letter states they will make arrangements for payment to resolve the matter, this payment will be made within 28 days by cheque sent to your home address or direct to your account,

Looks like you are getting it.