PPI Reclaiming Discussion Part 5

moforich

cappo wrote: »

So here we are guys restarting on this thread this post will just give you a post or two to latch on to.

I've had a M&S store card (that then changed to credit card) for 10 years. Recently asked them for my original application to commence ppi reclaim. They have sent me a copy and while I have signed the PPI section I quite clearly did not tick the box. Does this strengthen my case to reclaim 10 years worth of PPI? Many thanks

PaddyTheCat

Hi Everyone,

I'm posting a question, as I've read different answers on different websites and would like some clarity/direction...

I've been successful with claiming money back from mis-sold PPI on 3 credit cards.

I though that was my lot, until I had a conversation with Barclays recently (just discussing my recent successes whilst paying a bill). I was surprised when the CS advisor highlighted that I had PPI on my overdraft (paying £17 per month for about 15 years) stating that I didn't need it, more importantly I wasn't aware I had it.

Barclay's Bank raised a PPI claim for me, it's currently under review/investigation and I await a formal response, although the Manager at Barclay's seemed to think it was just a matter of time before I receive a cheque.

My question is how is my claim calculated, I never really used it/if at all.

I've read that it's calculated against the available overdraft and nothing to do with whether or not I've used my overdraft i.e £700 overdraft limit = Barclays pay back £70 per month (although this doesn't sound right), then 8% per year, multiplied each and every year for each year it's been in place.

So basically I'm a little confused!

Any/All feedback greatly appreciated

Regards

PTC

amersall

dilus wrote: »

My name is Amersall not
Quote:
the general consensus is

you know i am only kidding

I think General Amersall sounds good

Cheeky :p

cappo

moforich wrote: »

I've had a M&S store card (that then changed to credit card) for 10 years. Recently asked them for my original application to commence ppi reclaim. They have sent me a copy and while I have signed the PPI section I quite clearly did not tick the box. Does this strengthen my case to reclaim 10 years worth of PPI? Many thanks

Yes it does, very much so

dsmiah

People keep telling me to claim PPIs but not sure about the process. I have been reading the posts on here and am still confused.
Whilst I was a lone parent on benefits I applied for credit cards with Capital One, Vanquis and Alliance & Leicester which is now owned by Santandar. The last two I still owe money on them. I also had loans with Shopacheck and Provident, both of these have been paid of. Last year I applied for credit to buy a suite which is payable over 4 years. I am not sure what I can claim PPIs on. :mad:
Any help would be gratefully appreciated.

amersall

mill1980 wrote: »

im gonna ask this question again didn't get a answer and just wondered if anyone can help

ok so after finally sending my complaint to the right address Santander sent a offer letter today for a old cahoot flexible loan. stating the following:

Refund of payments from December 2002 (when I took loan out) until January 2004 (this is when they say I stoppped making ppi payments) the girl said on the phone I may have not been paying enough back to qualify for making ppi payments?? though I always paid the minimum amount if not more would they not always make a charge for ppi if it was taken out against the loan no matter if I was making minimum payments required....no idea just find it strange tho I could of cancelled the PPi at this point pretty sure I didn't.

the breakdown is as follows:

total premimums for 14 months £389, interest on this £303 and the lost interest £4.15 total due £697....

Does anyone know if the £4.15 calculation for simple interest is right? at the end of the day I never finished paying the loan so it will go as redress to the balance but it was money I didn't have before so doesn't matter least its going to the debt.

It was a online loan so I didn't get any monthly statements sent so can't prove I paid PPI after Jan 04 though I am sure I was, I can't access the online account anymore cuz its closed.

suppose its another win for the consumer though however you look at it

Do a Sar

http://forums.moneysavingexpert.com/showthread.php?t=1475553
Enclose £10 give them 40 days to answer, it should show all the account info, when you have this you can see if it tallys with what they offered you, this will not affect the redress they have given you as if you have evidence the calc is wrong you can go back and ask them to look at this info.

dsmiah

Forgot to mention that I have a bank account with Santandar with a overdraft which I am currently living in, could I claim anything from this?
Thanks

amersall

dsmiah wrote: »

People keep telling me to claim PPIs but not sure about the process. I have been reading the posts on here and am still confused.
Whilst I was a lone parent on benefits I applied for credit cards with Capital One, Vanquis and Alliance & Leicester which is now owned by Santandar. The last two I still owe money on them. I also had loans with Shopacheck and Provident, both of these have been paid of. Last year I applied for credit to buy a suite which is payable over 4 years. I am not sure what I can claim PPIs on. :mad:
Any help would be gratefully appreciated.

Provident and Shopacheck do not do ppi.

If you have any account numbers for the Credit Cards then look here for reasons for mis sell and if any/all apply to you then put a claim in.

http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance#step2

Fill the FOS form in and send one to each of the banks, make copies in case you need to go to FOS.

http://www.financial-ombudsman.org.uk/consumer/complaints.htm
It is number 3.

Santander do complaints over the phone, have your reasons for mis sell ready
0845 600 6014

amersall

I've read that it's calculated against the available overdraft and nothing to do with whether or not I've used my overdraft i.e £700 overdraft limit = Barclays pay back £70 per month (although this doesn't sound right), then 8% per year, multiplied each and every year for each year it's been in place.

I believe it is calculated on the ppi amounts that you paid each month, the 8% is on a decreasing scale so the amount you get will decrease the nearer you get to redress date.

The 8% is taxable if you are a taxpayer and if the bank do not take this tax off you have to inform the inland revenue to make the payment of tax.

manama

Okay so found my paperwork, although already in the midstof the claim, it was nram and they came to me.

Can i ask...it states ppi amount and interest and then it also states cash value...now between ppi, which is about 700 and with interest about 900 the cash value is 3000 ....what does this all mean?

:o