PPI Reclaiming discussion

pierrenkaz

tiggrae wrote: »

Hmm apologies, I thought you'de been paid out - did you have a pension when you took out your policy ? I presume as you've been made redundant you're not of pensionable age?

Yes I did have pension and am only a YOUNG 58 !!!, but also a working partner, both of which take me above earnings threshold. Must be your karma. Just received a letter in post to say that in view of Ombudsman's interest(???) they have reconsidered and realised that I have a legit claim and are paying out!!!!!! Still think anyone out there must be aware of circumstances.... If you are getting a pension or your partner/wife works, which precludes you from JSA you will have to fight for your dues. Good luck and thanks for your support. Peter.

m.r.davies

m.r.davies wrote: »

i've just been offered £600 from HSBC

However, they've said they wont give me the 8% interest that i asked for

is this worth chasing? are they likely to cave in?

i've read a bit more about this, am i likely to get this 8% back with a 2nd letter to hsbc, or am i wasting my time?

tiggrae

saranev wrote: »

Hiya tiggrae.
Am i bit thick and i cant find your link, i have been on the FSA site and am more confused than before as im not really sure what i'm reading! Any help appreciated
Thanks

try this Refunds of Single Premium Payment Protection Insurance

tiggrae

gigsy wrote: »

Hi all, Just completed my second letter just wondered what people thought and if I should change it in any way. Suggestions welcomed.

Although you have offered me “an enhanced rebate” - as a good will gesture- to the sum of £4437.86 in addition to the £1515.65 to be applied to the loan account on cancellation of the policy, I do not think this amount is enough to cover a refund of the premiums, subsequent interest that I have paid on these premiums and the 8% statutory interest that a court would award, but if you were to increase your offer the following:

1. £13,469.50 the cost of the PPI paid back into the loan
2. The interest that has been accumulated while the PPI has been attached
3. The over payments that have been made to the loan due to the PPI been added to the loan,
4. Recalculate the loan to lower the monthly payments to reflect what they should be if you hadn’t added the PPI to it.
5. And all the payments that I have made to date to be taken of the loan amount borrowed.

Once you have done this I would accept and consider the matter closed. If I have not heard from you within 14 days to say if you can do this, I shall be taking my complaint to the Financial Ombudsman.

Yours faithfully,

just a couple of tweaks

With respect to your letter dated ??? and the offer therein of ‘an enhanced rebate’ - as ‘a good will gesture’ - the sum of £4437.86, in addition to the £1515.65 to be applied to the loan account on cancellation of the policy; however, I do not believe this amount is sufficient to cover a refund of the premiums, subsequent interest paid on these premiums and the 8% statutory interest a court would allow as I have been unlawfully deprived of money. Therefore, I would like the following:

1.£13,469.50 the cost of the PPI paid back into the loan;
2. Interest accumulated whilst the PPI has been attached;
3.The over payments made to the loan due to the PPI been added;
4.Recalculation of said loan to lower the monthly payments to reflect the original amount had the PPI not been added; and
5.All payments made to date taken off the loan amount borrowed.

Once the above is completed I will consider the matter closed, should I have not had a positive response from you within 14 days, I shall, without further notice take my complaint to the Financial Ombudsman.

Yours faithfully,

tiggrae

m.r.davies wrote: »

i've read a bit more about this, am i likely to get this 8% back with a 2nd letter to hsbc, or am i wasting my time?

all your wasting is the price of a stamp - complete the ombudsman complaint form and send it to them at the same time as 'a courtesy' that might change their mind

EileenWonder

Hi Everyone Need Help if any legal brains out there.
Just received my statements from the RBS.
The have included a letter with the statements and I quote
Manual Intervention:
With reference to your request concerning any "manual intervention" to the administration charges debited, these charges have been processed in accordance with the terms and conditions of our current agreement with you as a result of the activity on your account. In the event that you breach the terms and conditions, we will take the appropriate action, contacting customers when appropriate, or handling customer enquiries regarding their account status. When a customer has raised a concern in relation to this process, the decision will be communicated to the customer and where appropriate noted on the account.

What does this all mean

googleman10

I wrote to GE Money on the 14th December 2007 to advise that it was now 8 weeks since they received my first letter and promised a response in their original acknowledgement letter.

As they had failed to provide any response during this time, they were now in breach of the Statutory Complaints Procedure which allows 8 weeks for a final response to a Customer Complaint, enacted by Parliament in December 2001, and incorporated into the Financial Service Authority’s Principles for Business.


This morning they have sent me a standard letter again (same as the first letter back in October 2007) advising that they would respond within 4 weeks! The complaint has gone to the FLA.


However, as this is enacted by Parliament and also a statute law, what prosecution can I take against GE Money for failing to provide a final response within 8 weeks? Does anyone know?

JazzyG73

I wrote to Alliance & Leicester on 01/12/07 claiming back my PPI on a loan that I actually paid off 6 months ago.
I had always been uncomfortable with how it was sold to me and tried cancelling it 3 times but would have meant re-financing with A&L and borrowing another £500!
They sent an offer on 14/12/07 for a full refund of premiums and interest paid to date of £1538; which I accepted:money:. Got my cheque this morning!
Was too 'chicken' to hold out for extra 8% interest that a court might have awarded.
Thanks to Martin for his invaluable advice and site. Keep up the good work and Merry Xmas.:xmassmile

tiggrae

EileenWonder wrote: »

Hi Everyone Need Help if any legal brains out there.
Just received my statements from the RBS.
The have included a letter with the statements and I quote
Manual Intervention:
With reference to your request concerning any "manual intervention" to the administration charges debited, these charges have been processed in accordance with the terms and conditions of our current agreement with you as a result of the activity on your account. In the event that you breach the terms and conditions, we will take the appropriate action, contacting customers when appropriate, or handling customer enquiries regarding their account status. When a customer has raised a concern in relation to this process, the decision will be communicated to the customer and where appropriate noted on the account.

What does this all mean

That's just their attempting to justify why the charges as imposed as sooooo high -it's an attempt to stop you making your claim - ps you could have asked me direct !!!! :-)

tiggrae

googleman10 wrote: »

I wrote to GE Money on the 14th December 2007 to advise that it was now 8 weeks since they received my first letter and promised a response in their original acknowledgement letter.

As they had failed to provide any response during this time, they were now in breach of the Statutory Complaints Procedure which allows 8 weeks for a final response to a Customer Complaint, enacted by Parliament in December 2001, and incorporated into the Financial Service Authority’s Principles for Business.


This morning they have sent me a standard letter again (same as the first letter back in October 2007) advising that they would respond within 4 weeks! The complaint has gone to the FLA.


However, as this is enacted by Parliament and also a statute law, what prosecution can I take against GE Money for failing to provide a final response within 8 weeks? Does anyone know?

Hi it's been enacted into the Financial Services Authority's Principles for Business - ie it's part of their legal regulatory procedures