PPI Reclaiming Discussion Part 5

cadace

Amazing how many posts on PPI there are. I have never tried to claim ppi back , but Im starting to think I should. Problem being is we dont know when and who with we may have had ppi with. I know we have had various credit cards over the years. HFC, EGG, ACCESS and HSBC for instance. Loans for cars and PC eqpt with companies incl PC world. Where do I start please? Oh and a small mortgage with Skipton building society.

cadace

cadace wrote: »

Amazing how many posts on PPI there are. I have never tried to claim ppi back , but Im starting to think I should. Problem being is we dont know when and who with we may have had ppi with. I know we have had various credit cards over the years. HFC, EGG, ACCESS and HSBC for instance. Loans for cars and PC eqpt with companies incl PC world. Where do I start please? Oh and a small mortgage with Skipton building society.

Forgot to mention, my wife seems to think we should involve a claims company as they only charge a small% of commission.

dunstonh

cadace wrote: »

Forgot to mention, my wife seems to think we should involve a claims company as they only charge a small% of commission.

All they do is put a stamp on the envelope containing the forms that you have either filled out or given them the information for them to write on the form. They then post it to the bank using the free of charge complaints process that you would use. The CMC charge is vatable at 20% too.

If you dont know who you were with then a CMC will not find that out for you. You need to tell them.

-taff

cadace wrote: »

Forgot to mention, my wife seems to think we should involve a claims company as they only charge a small% of commission.

CMCs have no special powers to complain and rely on you to provide all the info. They will not look for it themselves. You'll be hard pressed to find one who cahrges less than 30% and then yu'll pay 20% tax on any interest as well if you are taxpayer, which comes out of your redress before the CMCs get theirs.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

pay attention to the difference between closed and open accounts.

ladygooner

Hi all was hoping for a bit of help here. I have recently tried (for the second time ) to claim my ppi off my capital one card after being rejected in 2011. The letter I got back said that they sent their final response in 2011, and that as they have sent this they "feel that the financial ombudsmen service is unable to arbitrate on this complaint as we believe it is time barred"
The original complaint was not upheld as I used a company and did not realise that I could do it myself, and in the paperwork I put that I had not agreed to the ppi , but I had ticked the box without understanding that I didn't need it.
This is my long winded way of asking.....
Shall I still try to go to the fos? Every other claim I have put in has been successful (3 others) so I figured that it would be as straightforward with this one........

[Deleted User]

ladygooner wrote: »

The letter I got back said that they sent their final response in 2011,

Your complaint was therefore over three years ago. You cannot just "revisit" it some years on.
If you remained dissatisfied at the time, you had six months from the date of your original rejection to refer it to the Ombudsman. The fact that you used a company is utterly irrelevant-they represented you in your complaint.

Don't waste your time (or the bank's) any more with this.

amersall

Essy0116 wrote: »

Can anybody help.took out a loan with first plus in 2006 for 15000 plus ppicosting 3673.50.i refinanced in March 07 for a further 15000.they paid 17199.37 off my first loan 10000 off credit cards and sent me a cheque for 5300.63 so my total loan was for 32500.at the time I didn't realise I had payed off the first ppi with a loan.in 2009 I claimed back ppioff old loan and current one.i feel I should off been told I should off paid it off the loan but at the time hadn't realised.any advise would be appreciated

Put a complaint in, give both loan account numbers.
Reasons for mis sell with these.

1) We/I were not told that the ppi was in effect another loan that was added to the
original loan and was repayable over the term with interest.

2) We/I were told that the ppi was a 5 year policy, but not told
the ppi would still be on the loan to term end with interest and would no longer have cover.

3) We/I were told that if we did not make a claim,or go into arrears on the ppi ,after 5 years we/I would receive the cash back of ppi but were not told this would not include the interest made on these payments that we paid over
the 5 years or that the PPI would still be on the loan to term end with interest.

4) We/I were not told that if we settled the loan early, the remaining PPI after the rebate would be repaid by Me/Us back in the settlement figure.

Unless you can prove without doubt, that the PPI was fair, reasonable and suitable for my/our circumstances we/I will require, in line with the FOS recommendations, that the overall situation be restored as if PPI had never been included.
This will entail:
A refund of the monthly payments that have actually been paid towards the overall loans in excess of those that would have been needed, if the original loan had been sold without the PPI policy.
In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that they are paid back to us.
We/I believe we were not given enough information on this PPI to make an informed decision.
Had we/I known the full cost of this PPI we would not have taken it.

amersall

emH wrote: »

Hello,

I've just joined so apologies if this question has been asked before but Ineed some advice or help if this has happened to anyone else on here.

I had an egg loan and I complained with regards to PPI on my loan. I receivea reply from egg and was surprised to see I had two loans with egg; it was along time ago!

I duly sent off proof of my address to egg and received two lettersacknowledging receipt of one change of address and not the other. I wrote backto egg but before I got a reply I received an offer on one of my loans which Iwas delighted about. I signed the acceptance and egg confirmed they would comeback to me with regards to my other loan. Yesterday I received a letter fromegg combining my two loans and giving me a new offer which was £1232.24 lessthan the first offer I received and signed. Egg said this was due to me beingpaid the first offer which I haven't received and now I'm totally confused.

There is no one you can talk about this at egg so I thinking has egg held upboth my complaints and I will receive two amounts.

Has this happen to anyone else?

Sorry for the long intro question.

Thanks,

When did you send the acceptance letter off for the first loan and what does the second offer letter actually say?.

zodiac33

Hi,

First post here, but been a lurker for ages and wouldn't have bothered claiming PPI without this site.

I wonder if anyone can answer a few (not-so-quick) questions?

Just had an "offer" for PPI redress for £3194 from MBNA with no detailed info about how they calculated it - just PPI premiums and interest amounts.

This was a credit card account closed in 2008 and I have 90% of the original statements and the SAR from MBNA which match.

So, using spreadsheets I've found on here, without PPI the account would have gone into credit in June '06, 2.5 years before it finally did. For that 2.5 years, the only transactions are PPI plus interest and my payments which totalled £2850. Then as soon as it was cleared, I closed it in October 2008.

I'm trying to understand why MBNA don't also owe me the £2850 sum plus interest up to today, or do they ?

They've also omitted any late payment fees, and over-limit charges which I'm sure can't apply.

I'd be happy to scan and post redacted copies of letters if they're help to anyone else dealing with MBNA. For information, their offer letter came one month after the FOS letter upholding my claim (which took about 18 months).

Thanks!

[Deleted User]

PPI redress is a defined amount. It's a refund of all PPI paid plus attendant interest plus 8% simple interest.

No amount of "spreadsheets" will increase this.

Late payment fees and over limit charges are not refunded.