PPI Reclaiming successes and failures

halphy

Delta_Cephei wrote: »

Having procrastinated ages about claiming back PPI, I wrote to Barclays Select. I didn't use the template letter- I wrote my own-

BUT

I received £12,500 back- all the payments I had ever made (going back 10 years), interest accrued as well as 8% interest as compensation.

I wrote the letter, send by recorded delivery and then received a letter back within 7 weeks stating the decision, there was no blocking letters or anything...

Now getting on with writing a letter to FirstPlus (who missold the PPI even more clearly!!)

Thanks for helping! :j

WOW! What a sum, well done, Good Luck with FP

44lisa44

Hi everyone,

Well we received our Lloyds credit card ppi money including the £935 they tried to get away with not paying us! :j

Yesterday we received our lloyds loan ppi settlement figures and we are confused. The old loan figures are fine and we are happy. But the existing loan settlement is confusing. Loan was for £10,000 with £2387.24 ppi and interest. 60 monthly payment of £244.52.

Settlement letter says as follows:
"Your refund has been calculated in two seperate amount. £2387.24 will be paid directly to your loan account in order to cancel the policy. A few days later we will take £1743.44 from your loan account and pay it directly into your current account. The 8% simple interest of £219.74 will be paid directly into your current account"

I interpret this as they are refunding us twice? The £1743.44 I agree with as this is the ppi we have paid un to date. But I don't understand why they are paying the £2387.24 on to the loan as well. Not that I am complaining of course just confused!

What does everybody else think?

Lisa

robbedofmymoney

44lisa44 wrote: »

Hi everyone,

Well we received our Lloyds credit card ppi money including the £935 they tried to get away with not paying us! :j

Yesterday we received our lloyds loan ppi settlement figures and we are confused. The old loan figures are fine and we are happy. But the existing loan settlement is confusing. Loan was for £10,000 with £2387.24 ppi and interest. 60 monthly payment of £244.52.

Settlement letter says as follows:
"Your refund has been calculated in two seperate amount. £2387.24 will be paid directly to your loan account in order to cancel the policy. A few days later we will take £1743.44 from your loan account and pay it directly into your current account. The 8% simple interest of £219.74 will be paid directly into your current account"

I interpret this as they are refunding us twice? The £1743.44 I agree with as this is the ppi we have paid un to date. But I don't understand why they are paying the £2387.24 on to the loan as well. Not that I am complaining of course just confused!

What does everybody else think?

Lisa

these offers do tend to be confusing. and lloyds are the worst

they will only refund you once, the rest is just the calculation they do to put the loan back into the position it would have been had the ppi not been added in the first place.

what they are saying they will do is deduct the full ppi premium from the loan account, then add back onto the loan account the premiums you have paid, this puts the loan back to the position as if no ppi was added in the first place. then they pay you the money you have paid in ppi and the 8% simple. this way they are only paying you once.

i hope this helps

cheers


this is the correct way and in line with the FOS.

amersall

halphy wrote: »

Success! Finally from Loans.co.uk.

Long 6 weeks wait waiting for settlement figureas, well recieved letter today offering figure of £2656.29, includes refund of PPI plus interest paid on premium £376.09 and 8% 180.20. The 8% seems low? how do they work it out?

Im happy with refund, just A&L gave me more and that policy was less?

Well done :T the 8%is on a sliding scale the nearer you are to the present day the less this interest is, because you have been deprived of this money for less time.

amersall

44lisa44 wrote: »

Hi everyone,

Well we received our Lloyds credit card ppi money including the £935 they tried to get away with not paying us! :j

Yesterday we received our lloyds loan ppi settlement figures and we are confused. The old loan figures are fine and we are happy. But the existing loan settlement is confusing. Loan was for £10,000 with £2387.24 ppi and interest. 60 monthly payment of £244.52.

Settlement letter says as follows:
"Your refund has been calculated in two seperate amount. £2387.24 will be paid directly to your loan account in order to cancel the policy. A few days later we will take £1743.44 from your loan account and pay it directly into your current account. The 8% simple interest of £219.74 will be paid directly into your current account"

I interpret this as they are refunding us twice? The £1743.44 I agree with as this is the ppi we have paid un to date. But I don't understand why they are paying the £2387.24 on to the loan as well. Not that I am complaining of course just confused!

What does everybody else think?

Lisa

Well done :T and congrats :T:T

di3004

44lisa44 wrote: »

Hi everyone,

Well we received our Lloyds credit card ppi money including the £935 they tried to get away with not paying us! :j

Yesterday we received our lloyds loan ppi settlement figures and we are confused. The old loan figures are fine and we are happy. But the existing loan settlement is confusing. Loan was for £10,000 with £2387.24 ppi and interest. 60 monthly payment of £244.52.

Settlement letter says as follows:
"Your refund has been calculated in two seperate amount. £2387.24 will be paid directly to your loan account in order to cancel the policy. A few days later we will take £1743.44 from your loan account and pay it directly into your current account. The 8% simple interest of £219.74 will be paid directly into your current account"

I interpret this as they are refunding us twice? The £1743.44 I agree with as this is the ppi we have paid un to date. But I don't understand why they are paying the £2387.24 on to the loan as well. Not that I am complaining of course just confused!

What does everybody else think?

Lisa

Well done and Congratulations Lisa :T:beer::j

halphy

amersall wrote: »

Well done :T the 8%is on a sliding scale the nearer you are to the present day the less this interest is, because you have been deprived of this money for less time.

It was 2005? I settled 2006.

kaz-mex

Is it just me or do Black horse finance take ages to reclaim PPI? I started the claim at the end of April had one letter from them saying they didnt mis-sell and that were their final answer so I sent the 2nd letter of and am still waiting.

di3004

kaz-mex wrote: »

Is it just me or do Black horse finance take ages to reclaim PPI? I started the claim at the end of April had one letter from them saying they didnt mis-sell and that were their final answer so I sent the 2nd letter of and am still waiting.

Hi there

Did they enclose details of the financial ombudsman service (FOS) in that letter?

I would ring them and ask them if they are dealing with your 2nd letter, if not think about complaining to the FOS.

Hope you hear some good news soon though, good luck.;)

lush1

i just claimed back ppi on behalf of my sister with 1 form and only 2 weeks wait and the loan she took out was in 2002.....she awaiting a cheque for approx £900. Myself however had 3 loans from citi with ppi from 2001-2006. The 2006 one they have paid out on but are refusing the other 2 with the more costly ppi, they say because they have no details of the account. I told them i had credit aggreements ( which i got a few months ago from a SAR letter), i was asked to send copies of the aggreements and they may re-open my case, which i did. After hearing nothing i rang them and they said that they had already given me their final response and were not pursuing it further ( apparently i should not have been told to send in credit aggreements). So i have now complained to the FOS. I find it odd that my sister and i took our loans out aound the same time and they have paid out hers ( but she did only have 1 loan with them) and wonder if it is because i re-financed mine because they told me they could not see payment history, or if i had ever claimed on the insurance, or if any rebate had been given already that they were taking my case no further. Question is are the FOS likely to get any more joy than me or is it likely that i wont get the ppi back on these 2 loans......your advice appreciated.