PPI Reclaiming discussion

NV187

After months of running around, I have been told by Barclays that they will be making a full refund of the insurance premiums together with the associated interest paid on it till date, but it will go towards reducing the current loan amount I owe them.

Can I insist on having the money paid to me by cash/cheque? Surely as I've been deprived of money that's mine, it should be upto me what I do with it. It's a single premium policy by the way if that makes any difference.

Any help would be greatly appreciated.

FrugalJo

vodkafreak wrote: »

Hi, Daynurse & Stillsmiling.
It would seem that firstplus are quick to credit your loans with a refund even though you haven't accepted, but when it actually comes to sending out a personal cheque refund they drag their feet!
I posted my acceptance form 1st class recorded on wed 6th feb & haven't heard a peep from them(although their 'sod off' letters always arrived promptly!). Granted, it's only been 10 days & even if they didn't receive my form till fri (suppose 1st class not always reliable), that still leaves 7 working days to wash their hands of me! You'd think that they would be only too pleased to only have to pay out less than half the original claim!
Oh well, i'll give them another week then put it in the hands of the FOS with my ORIGINAL complaint as they haven't honoured their offer!:rolleyes:

Think this is the next stage in delay tactics. I'd heard nothing from Northern Rock since 23rd Jan, I sent acceptance by recorded delivery. On the phone last week they deny having received it, royalmail website soon put that straight. Still waiting for funds though...

vodkafreak

WILLOW wrote: »

I have been reading all the posts with great interest and thought i would share my current reclaiming situation with you and also in the hope that anyone might be able to offer any advice.

I had a loan with first plus which i took out in jan 2004. i sold my house and paid off the loan in october/november 2005 and was amazed when i had to pay over 14000 extra on top of the 65000 loan and interest to pay it off.

i sent the 1st letter to first plus and have received a reply saying they are not upholding my complaint and that i had a policy book and knew i wouldnt receive as much back as i paid off. so very angrily i have now sent a second letter asking for them to look again due to the unfair partial refund.

they seemed to be very quick in telling me i couldnt claim as it was only 2 weeks from when i sent the 1st letter to them that they managed to send me the full reply.

i am concerned they will write back again and say no, has anyone any advice they can offer me.

thanks

All i would say is 'DON'T GIVE UP!' When i finally received a response from them, i immediately wrote back reiterating my request & emphasising the FSA ruling on single premium policies which deemed them to be unfair under the UTCCR 1999.(Unfair Terms in Consumer Contracts Regulations). This alone should at least get you their 'bog standard offer' of an enhanced rebate on a pro-rata basis of 78%(22% being held back for provision of claims & admin costs!) It is then up to you to decide wether to accept or push for misselling (which i believe would entitle you to a FULL refund!).I personally accepted their enhanced rebate of £5,000 for personal reasons,but am still waiting for the cheque! :rolleyes:

petermb_2

please note all when being offered a refund of ppi premiums. Please do not sign a document that gives full and final settlement. The ppi premium itself may be the minimum that you mat be due back from the lender and you may be depriving yourself of thousands of pounds.

This is one of those areas where it really is advisable to use a professional company who understand the inhehrent issues. Obviously only pick such a company that does not charge you any fees. There are always companies out there who will take advantage.

JIMJIM_3

Afternoon all

I am having problems downloading the template letters to begin the arduous process of trying to reclaim p.p.i's, any bright ideas, or can i find them elswhere? Only have access to work computer, would i be able to download from a library computer? Thanks in advance.

Stillsmiling

juliedawn wrote: »

I've just written my 3rd letter to first plus.We still have our loan but are claiming for mis-sold PPI.They say it wasn't mis-sold and have offered us £5,500 refund.I won't accept that til i have a copy of the telephone call.

I've now had the phone call info but I think we still have a case. Unfortunately for First Plus they have already refunded the "enhanced rebate" to my loan account, amended my monthly payments (hardly worth it!) and cancelled my PPI insurance. NONE of which I have authorised! If I don't have a letter by the end of the week explaining why they did that and assuring me that they'll put it right then I will be proceeding to the ombudsman. After all, I hadn't made the decision to accept their pathetic offer and now they have removed any option I had - namely hanging on for 2 years for the refund!

russbeck

russbeck wrote: »

Hi,
I'm having trouble getting my head around an agreement we had with Blackhorse. I have posted the details below. I cannot get a copy of the actual settlement figure and how this was broken down, just the statement. I realise that the opening balance is the loan amount plus ppi amount (not inc interest).
What I need to know is how much to ask for through the court?
Do I include the interest added by Blackhorse (£606.63) as this doesn't appear on the opening balance and doesn't seem to be reflected in the final repayment.
Also how do I work out the 8% interest for the court?
Can I use the calculator on this website and enter it as if I'd paid 48 payments over 48 months?

I hope someone can help me with this as I am on the verge of giving up, it's all getting too confusing.

Thanx

*************************************************************
agreement date 25/07/2002
amount of credit £4500.00
interest rate per month 1.52% apr 19.8%
monthly repayments £132.75
1st monthly payment is payable on 01/09/2002
total charge for credit £1872.00
total amount payable £6373.00


the cash price of the payment protection plan £1458.33
amount of credit (the loan for goods/services) £1458.33
interest rate per month 1.52% apr 19.8%
monthly repayments £43.02
1st monthly repayment is payable on (left blank)
total charge for credit £606.63
total amount payable £2064.96

total monthly repayment payable £175.77
*******************************************************************
Statement-
25/07/02 opening balance £5958.33 £5958.33
31/07/02 interest £20.82 £5979.17
31/08/02 interest £92.63 £6071.80
02/09/02 dd payment -£175.77 £5896.03
30/09/02 interest £88.48 £5984.51
21/10/02 dd payment -£175.77 £5808.74
31/10/02 interest £91.74 £5900.48
19/11/02 dd payment -£175.77 £5724.21
30/11/02 interest £87.41 £5812.12
04/12/02 repayment -£5299.44 £512.68
05/12/02 settlement interest -£512.68 0.00
********************************************************************

Hi, Can anyone help me with this one. I don't want to get it wrong if it's going to court. I am totally stuck and have no idea.
Thanks in advance.

mmcgill

I have today had an offer from alliance & Leicester with regard to my ppi payments.

they have agreed to re-imburse me a total in cash of £555.93 the amount of money paid by me for ppi for my loan to date.

They have also agreed to send me new credit agreement forms calculated without the ppi included.

all of this from one phone call to customer services and one letter written to their customer complaints

many thanks all for your help and info posted that aided in me getting this decision

cobster

Does anyone have any experience of M&S &More card PPI reclaiming?

I used the template letter, modified it, and they have basically rejected my claim saying that it's been in place for 20 years so I've had plenty of time to question it in the past and as I haven't they cannot see that it has been mis-sold. Yes I feel a twit for not noting it before but I seriously can't believe that I would have opted in for a policy that I didn't know I had. They no longer have my application form but their computer says that I had taken the PPI - so that must be right.

I did write back to them to dispute the fact that had I knowingly taken out this insurance and known what it was about then I would have claimed for two periods of redundancy in 1991 and 2001 and I would have cancelled the policy when I went self-employed as the nature of my work would make me ineligible under their terms. They wrote back with much the same as above and suggested if I am not happy then I should take it to the Ombudsman which I am more than happy to do. Funnily enough the last letter they sent me was on plain white paper - computer or operator error that forgot to put the headed paper in. I also want them to prove that this was something I opted in to rather than opted out of but it appears that they have washed their hands of my claim now.

Thanks in advance

terry876

We have a personal loan with EGG who sold it to us on the basis that no PPI no loan, I have now sent 3 letters to EGG who claim that it was sold correctly, but they cannot find the recording, having watched the forums I notice that companies can find the recordings when the PPI has been sold correctly, but like in our case and many others on the forum they cannot find the tape when in dispute. Is it just me or have others noticed this trend too?