PPI Reclaiming Discussion Part 5

backo

Hello guys, have just read the first post of the "how to calculate refund " sticky but cant see the answer to a question I have and wonder if someone could help.

Wife has complained about a credit card she was paying PPI on. They have come back with an offer but the amount doesn't seem right.

She defaulted on the credit card and it went to a "recoveries" in Oct 2003. She cleared the balance in full a couple of months later following help from her parents.

The offer they have quoted has the PPI refund but only 8% interest up to when the account went to recoveries in Oct 2003. They haven't and it appears are unwilling to provide 8% interest from when the card was cleared to todays date. ( almost 10 years interest)

Can they do this..surely it makes no odds whether it went to recoveries?

Thanks in advance

[Deleted User]

backo wrote: »

The offer they have quoted has the PPI refund but only 8% interest up to when the account went to recoveries in Oct 2003.

This is correct since the default meant the PPI became null and void from that date.

backo

Thanks for the quick response..most appreciated

Just a quickie....how does it matter if the PPI became null and void when the debt went to recoveries?. If she has paid ppi that shouldn't have been sold, then surely she is owed interest on the amounts paid? for example if the account hadn't have gone to recoveries and she paid it off in the full and closed the account. then the ppi would have become null and void at the time the account was closed but she would be entitled to the interest?

or am I missing something

[Deleted User]

backo wrote: »

Just a quickie....how does it matter if the PPI became null and void when the debt went to recoveries?.

The PPI was completely cancelled when the debt was defaulted. By allowing this you broke the terms of the contract. It doesn't matter that you subsequently paid off the money owed, the insurance remained cancelled.

nuttyrockeress

Hi

I am currently in the process of a claim with Lloyds TSB.

I've sent off the consumer questionnaire and had confirmation that this has been received by a letter.

The letter asked me to get in touch with them to give them a number to contact me on and also the best time to get hold of me. I called them to advise this.

My question is do they always call to discuss a claim or do they ever make a decision dependent on the questionnaire submitted?

TIA for any replies
nutty

amersall

nuttyrockeress wrote: »

Hi

I am currently in the process of a claim with Lloyds TSB.

I've sent off the consumer questionnaire and had confirmation that this has been received by a letter.

The letter asked me to get in touch with them to give them a number to contact me on and also the best time to get hold of me. I called them to advise this.

My question is do they always call to discuss a claim or do they ever make a decision dependent on the questionnaire submitted?

TIA for any replies
nutty

They sometimes contact you, they may need to ask further questions regarding your claim.

amersall

yehnoon wrote: »

Hi

I am in discussions with Barclay regarding PPI on my credit card. The last letter they sent me had a cheque attached for £7 and it says that they believe that they have resolved my PPI complaint.

Is it right? Are they not supposed to send me an offer to accept or reject before they send me a cheque?

Plus how they come up with £7?

Any one else experienced same with them? Any comments please.

Thanks

Get in touch with them, ask how they arrived at the £7 figure and ask for the calculation.

Goflow

I took out a loan back in 2004 by direct contact in my local branch with an adviser. Due to my secure employment (6 months full pay & 6 months half pay when unable to work) I did not want PPI and told the Adviser so. He told me that I would not get the loan without the PPI so I agreed as I needed the money urgently.

I don't have any paperwork now and the loan was paid off early in 2008 but Lloyds have confirmed that I paid nearly £4000 in PPI during that period. I don't know if the PPI was paid up front or otherwise but I paid £99 per month for it.

Is this single factor suitable for a successful claim. I have heard conflicting reports.

Appreciate any help.

Manu31

I made a PPI claim over 8 months ago.
Every time I contact them, I'm told there busy and when they get time they will investigate my claim.

Is there a time limit for these claims or will I be still waiting in years to come.

If someone knows please tell me.

Regards
Manu31

amersall

Goflow wrote: »

I took out a loan back in 2004 by direct contact in my local branch with an adviser. Due to my secure employment (6 months full pay & 6 months half pay when unable to work) I did not want PPI and told the Adviser so. He told me that I would not get the loan without the PPI so I agreed as I needed the money urgently.

I don't have any paperwork now and the loan was paid off early in 2008 but Lloyds have confirmed that I paid nearly £4000 in PPI during that period. I don't know if the PPI was paid up front or otherwise but I paid £99 per month for it.

Is this single factor suitable for a successful claim. I have heard conflicting reports.

Appreciate any help.

Get back in touch with Lloyds and make the claim, if they told you that you paid PPI then ask where they got this info from if they ask you for an account number.

If you paid the loan and PPI in one payment, this is Single Premium PPI and you can use this as a reason for mis sell, this was a loan on the loan that you repaid to term end with interest, if you settled early they would have gven you a rebate of the PPI and the remaining PPI would have been paid back you in the settlement figure, use the reason you gave above re sick package and if you had life insurance too.