PPI Reclaiming discussion

kazmeister

mickluz wrote: »

I posted my story in the "successes" section of the site on 24/11/07. Going a bit deeper and having a good think about it I`m now not so sure. Can anyone out there help.

My offer from LTSB for a £25,000 loan, taken out in Nov 2004 over 7 years, was £ 5,705 plus interest on an ex gratia basis and the money would go towards reducing the term of my loan. The monthly repayments however, stay the same. ( I still have the PPI with them )

On checking my policy the £5,705 figure offered is the total premium for the life of the loan, although, as I said, they still want me to continue with the same monthly repayment !

Can someone point me in the right direction as I`m confused ( and suspicious ! )

Hi

I also had a similar situation with LTSB.

How I worked it out was that in my situation the cost of the PPI was added to the original amount and was then divided over the whole term for the repayments. So on my letter at the start it said the cost was £XXX, so even tho they havent had all the payments yet, they are repaying the full amount plus the compound interest. This means they are repaying me for payments I havent actually made yet and so the payments stay the same and the term stays the same.

Thats how I understood it anyway.

Hope this helps
Kaz

cornflakegirl

sparkie45 wrote: »

started my claim for ppi last month with this company and got a letter back saying that they are looking into it so today i thought i would give them a ring to see how things are going and she said to me that it is with there claims team and they will be intouch within 8 weeks should i wait that long or should i take further steps

looking for some advice
cheers in advance mark

I am in the same situation as you, so some advice would be great..Yorkshire bank keep telling me that i can eventually go to the financial ombudsman but i dont want it to go that far..

owessomuch

Hi Guys

Just after your thoughts!

I have sent off the letter for a store card I had many moons ago as I noticed they had been taking PPI. The amount is very small (less than £50) but I know I didn't request it so I've started the ball rolling.

I had a reply back with a copy of my credit application stating that I had ticked the PPI box.

On closer inspection I noticed that the application was in my handwritting and the tick in th PPI box did not match my ticks! (if that makes sense)

I went through my files and found my original credit application and as I thought PPI was not ticked and must have been added afterwards!

I've sent another letter to them with my original credit apllication by special delivery so they can't use the "we never received it" excuse and I've scanned the original.

Do you think I've done enough?

Would love to know what you think.

Thanks

Owessomuch

sylvie_Kay

hi Tiggrae
Sorry didn't make my last post clear, am claiming PPI from Barclaycard and it is in the hands of the FOS. A chap from FOS rang yesterday and said he didn't think I had much chance of getting it back as the rules were different when I first started the card i.e.the insurance box was pre ticked. He did say that I might be able to get some money back as nI didn't claim when I had an operation 18 months ago (shows I didn't realise I had it) any thoughts on the next step. - thanks

petermb_2

To Berry, you are owed every penny of the ppi premium and all payments made on it plus the interest. Dont be fobbed off with anything less. If FP play up at all come back to me and I will persuade them for you.

To cornflake girl, pm me with your contact details and i will can ask for info that may help you.

hi sylvie Kay, I may be able to assist you. pm me with your contact details so that I can clarify some points.

essexjim

Hi all,
Had a letter back from Barclaycard, it reads May i advise that the policy document was sent to you when the account was registered for PPI and it is your responsibility to decide wether or not the policy is suitable for your requirements. For this reason there is a 30 day cooling of period. in the circumstances, no refund or compensation are due.

Should i still carry on and send they second letter.

any advise would be grateful
regards jim.

fifikav

hi all :snow_laug

had 2 finals from m and s saying no, go to fos (i have heard they are doing this to most of their reclaim complaints customers!!)2 letters have gone to fos in the last week..

yet another hold response from egg..how long do i give them???8 weeks is almost up

yet another hold from rbs credit card..how long do I give them ??8 weeks is almost up

Does anyone know what the average time it takes to resolve etc.. when fos take up a complaint ??:think: ?????????


and finally for those out their who are receiving fob off letters...it only takes a stamp to send to fos, their website is really helpful and who knows, we may be lucky!! fingers crossed!!!!!!!

petermb_2

There is no luck required whatsoever. Just the right tools.

vodkafreak

Can anyone help me with working out what i am owed from first plus?!
I am still waiting to hear from them but would like to have a figure to throw back at them when they either fob me off or make a 'gesture of goodwill' offer!
loan:£40,000
ppi:£9,796 I made 12 payments of £373.45 then paid the loan in full at a settlement figure of £50,229.86.
I would be grateful for any help as my mental arithmatic is more Mental than arithmatic!!
Thanks.

petermb_2

You should be looking at full refund of £9796 plus the payments and the interest. There could be considerably more than this to claim off them depending on the circumstances.