PPI Reclaiming Discussion Part 5

zodiac33

You say:-

"Late payment fees and over limit charges are not refunded."

yet the FOS guidelines state:-

"The financial business should reconstruct the account by removing any premiums in respect of the PPI and any interest or charges in respect of those premiums;"

What are the "charges" the FOS are referring to, if they're not late fees and over-limit fees?

[Deleted User]

zodiac33 wrote: »

What are the "charges" the FOS are referring to, if they're not late fees and over-limit fees?

Late payment over limit fees are not directly attributable to your having had PPI. The PPI certainly didn't cause you to be tardy with re-payments, for instance.

dunstonh

zodiac33 wrote: »

You say:-

"Late payment fees and over limit charges are not refunded."

yet the FOS guidelines state:-

"The financial business should reconstruct the account by removing any premiums in respect of the PPI and any interest or charges in respect of those premiums;"

What are the "charges" the FOS are referring to, if they're not late fees and over-limit fees?

Where the PPI premium is responsible for fees, then the lender should take them into account. However, late payment fees are not due to PPI. They are due to you paying late. Over limit charges would apply if you were less than the PPI premium over your limit. If you were more than the PPI premium over your limit then you dont get them refunded as even without the PPI they would have been incurred.

zodiac33

Moneyineptitude wrote: »

Late payment over limit fees are not directly attributable to your having had PPI. The PPI certainly didn't cause you to be tardy with re-payments, for instance.

Hi,

I fully accept that while I was still using the card, I was still liable for late fees. However, once the reconstructed account went into credit, I don't see why I should be charged for being late, when I wouldn't have being paying anything at all off the balance had I not been mis-sold PPI, i.e. there would have been no payments to be late with.

Then, for over-limit fees, the credit limit is never exceeded on the reconstructed account, so those charges were incurred as a direct result of the PPI mis-selling.

Similarly, after the reconstructed account went into credit, I made £2850 of payments over 2.5 years before it was paid off and closed, without using the card. Without PPI, I would not have had to make those payments, therefore MBNA owe me that money, plus interest, as well.

All this seems to be in keeping with the overall FOS guideline:-
"the firm should, as far as practicable, put the complainant in the position he would have been if he had not bought any payment protection contract."

With interest, the difference including the above would more than double the amount of MBNA's calculations.

-taff

You still won't get late payment fees back, no matter what your logic.
PPI didn't make your payments late. You did.

dunstonh

I fully accept that while I was still using the card, I was still liable for late fees. However, once the reconstructed account went into credit, I don't see why I should be charged for being late, when I wouldn't have being paying anything at all off the balance had I not been mis-sold PPI, i.e. there would have been no payments to be late with.

Late payment fees are due to when you made a payment, whether it be the minimum or full amount. Not to do with PPI premiums made.

Then, for over-limit fees, the credit limit is never exceeded on the reconstructed account, so those charges were incurred as a direct result of the PPI mis-selling.

There is some scope with these but it depends on how the over limit fees were built up. A cascade of every increasing amounts can see a good claim for refund. However, periodic over limit charges is harder to persuade.

bbford

Hi,


just trying to make sense of the guidelines issued on here whether to make a claim.
Can you claim PPi for being frequently overdrawn? I have been with Barclays for 25 yrs and had their Additions accounts.

Do they look at household income, as my partner has a good job but my account overdrawn due to drop in income, maternity leave and helping out family members.

Any advice appreciated,

moormoor

Hi All
New to this site, wondered if anyone has claimed PPI from Peugeot financial after buying a car....
and if so who and how did you go about claiming.....
I have all paper work.

dunstonh

moormoor wrote: »

Hi All
New to this site, wondered if anyone has claimed PPI from Peugeot financial after buying a car....
and if so who and how did you go about claiming.....
I have all paper work.

More likely they complained to the dealer. Dealers became regulated for sales made after January 2005. They were mostly unregulated prior to that date.

[Deleted User]

bbford wrote: »

Can you claim PPi for being frequently overdrawn?

PPI is an insurance policy and has nothing to do with being overdrawn. You don't "claim PPI" you have to make a robust complaint that it was mis-sold to you.

bbford wrote: »

Do they look at household income

Not at all.