PPI Reclaiming Discussion Part 5

jamboray

How do you work out what you are owed?

dunstonh

jamboray wrote: »

How do you work out what you are owed?

If your complaint is successful, they give you the calculation so you can see it.

The typical calculation is a refund of premiums paid minus any amount paid out on a claim or a rebate (due to early settlement) plus interest.

You dont have to work anything out. It is done for you.

incesticde

(Tried searching for an answer on this but couldn't find anything)


I have received an offer from Natwest :j to which I've sent off the acceptance letter they sent me. In the wording is the 'we can take any arrears of your award' and I was wondering if this includes closed accounts?


Just for a bit of background I was paying off the loan via DCA and had paid off 70% (ish) of it of before I sent a CCA request, they responded by saying that due to the delay in replying to me and other internal reasons they would close the account and required no further payments from me.


So, would this closed account arrears be cleared from the ppi award?


Many thanks for any and all help MSE'rs

dunstonh

I have received an offer from Natwest to which I've sent off the acceptance letter they sent me. In the wording is the 'we can take any arrears of your award' and I was wondering if this includes closed accounts?

They are allowed to offset the capital part of the redress against any arrears, defaults and amounts previously written off as part of a settlement. So, if the account did default in the past, then they can use the capital part of the redress against it.

incesticde

!!!!!!. Thanks chap

the_old_boy

good evening all.

I'm a newbie to all this but have read many of the posts here.
just a quick question if i may

when you claim a ppi refund do the banks ie barclays refund what they call compound interest
ive seen many posts saying they got a few quid back but nothing about the interest on the money they have paid in ppi
many thanks 'tony'

dunstonh

when you claim a ppi refund do the banks ie barclays refund what they call compound interest

No. its 8% simple.

the_old_boy

thanks dunstonh
ok the 8% is the statutory compensation is it not !
when they refer to ' compound interest ' or ' account rate interest ' whats that please

thanks tony

lynns3cookies

Hi , quick question and not sure if it's answerable. Anyone any idea how long it takes back horse to send cheques following receipt of acceptance of offer?

Thanks in advance

Steven_Rasberry

Can anyone suggest a reputable PPI reclaim firm?

I'm aware a lot of people say never use any of the firms and do it yourself but for me this would be difficult.

In my early 20's I was a single father of two kids, struggling on a below minimum wage job. I got myself into a lot of debt and had multiple bank accounts and credit cards.

I feel at best I was treated unfairly by several of the banks, some were charging me more in bank charges for missed direct debits than I earned each week meaning I could never pay any of my bills and the charges kept adding up.

At this point in my life I had a break down and so I remember very few details of which banks were charging me what or even which banks I used and I have no documentation. The only information I know for certain is the approximate years and address.

I think the chances of one my banks charging me PPI on at least one of my credit cards without me being fully aware is pretty high but I have know prof.

I have been told there are firms that can find out with the minimum information and any money I could reclaim even with a commission taken off would really help my family right now.