PPI Reclaiming successes and failures

h0pusp0pus

good morning every well ive heard from hfc bank this morning and its good news they have decided to uphold my complain and im to receive a refund of £4032.04 :j :money:

i borrowed £5000 over 7 years paind it off in 2009

break down as follows 66.6 premiums paid 2/9/2003 to 04/03/2009
£2861.56

balancing premium refund for early settlement £0.00 (what ever that is???)

plus interest at 8% £1170.48

total offer = £4032.04 pence

is this the first hfc refund do we know?

im delighted one question though going by the break down does this mean thay arnt going to give me interest on the premiums i paid over the 10 years??

in the covering letter it says i propose to offer you the amount of £4032.05 in full and final settlement of your complaint with hfc banl this figure will effectivly return the payment protection premiums you have paid (including interest) details of the offer are shown in the acceptence of offer form enclosed
you should note that this offer includes an element of 8% statutory interest amount to £1170.48

now does this mean ive had only the 8% interest added or has 10 years worth of interest also been added as well??

id like to add a huge thank you to di and amersall and everyone elses help on mse for all your help and advice and kind words couldnt of done it with out you

and also a very kind woman who originaly put a post up on the loquax competition forum letting me know about the miss selling of ppi insurance in the first place

*cassius*

I got my letter this morning with a refund of £991 from RBS as a refund on ppi payments many thanks to the board for all the great advice that has been posted on here with how to claim

I only have one question in relation to the payment, the letter i received doesnt make any mention of the 8% interest nor does it break down the refund as to what was paid out by me originally with regards to the loan and ppi payments on it, can i request that the calculations for this be sent to me so i can double check the interest is included or is it RBS policy not to give the 8% interest ? would it be worth me ringing the FOS and requesting they speak with them to confirm if the 8% interest is included ?

Tropicalmoments

I received a letter re my Egg loan this morning that said that they have reviewed my account and their records indicate that I never actually purchased this product nor has it ever been applied or charged to my account :mad:. Which is interesting because I found the original agreement which included the Egg Loan Protection Policy and pricing statement for a total of £907.43.

Unfortunately I notice that my online egg statements only date back to the last 2 years and I cancelled all ppi in 2006 so I can't prove that I was making any PPI payments.

I have put in a SAR to Egg so it will be interesting to see what comes back from that.

Anyway slightly disappointed by this response.:(

Tm

di3004

Good afternoon folks.

Please bear with me and I shall try to get round to replying to your posts, hope you all have a nice sunny day.:D;)

di3004

Kuffs1978 wrote: »

Good morning!

I've been giving the situation some thought over night and whilst making coffee a few minutes ago a thought struck me; since my sis has cancelled the PPI and is therefore no longer paying for it, should she be entitled to lower monthly repayments? I remember that GE sent her a letter to confirm the remaining PPI had been removed from the outstanding balance, but also said that her monthly repayments would remain the same. Surely this is her choice, not theirs? GE did shoot themselves in the foot though, since on their website they have a loan calculator which allows consumers to see what the monthly repayments would be on a loan, in both capital and interest, and interest only. According to their calculator, and at the rate of interest my sister's loan repayments would have been around £216 per month, not the £261 she has been paying (when it included the PPI) She is also slightly in arrears; around £351, yet is currently paying a mammoth £300 per month. If she pays any less, she is penalised with a £40 charge, and her credit record is affected. Bur surely now she is no longer paying for PPI, she is within her rights to pay the £216 each month, and anything on top of that should go towards her arrears? I'm amazed it has taken quite so long for me to realise that through GE claiming that if she was to continue repayments of £300 a month-something she often struggles to do, she would repay the loan quicker, when in reality, by making the payments a little beyond her budget, she is more likely to fall into arrears which works better for GE as they will impose penalties and make more money. Does any of this make sense or am I barking up the wrong tree?

Hiya

The only thing is, which is so annoying really, when you cancel after the cooling period the repayments hardly change if at all.
Normally the cooling period is 30 days from when the account was taken out, then if cancelled afterwards this is what happens unfortunately, but I would try to get hold of her individual copy of her own policy (they will send on request) and check as it may differ from one company to another.

However, you can then complain if your not happy with the way this have been dealt with as maybe another complaint to the reclaiming of the PPI, because your sister can still make a reclaim on what she have paid into the loan account of ppi.

Wait for other opinions as well if you want to, but they don't always make it clear in the small print of the t&C's either which you can raise this up with them, its all jargon isn't it?;)

di3004

loopyloz84 wrote: »

Hi Everyone

I've received my offer letter from Nationwide this morning just 4 weeks after I put in my claim for mis-sold PPI.

They've provided a full breakdown of my repayment for each of my loans (I increased the value of it 3 times in the space of 6 months!)

Here goes:

Loan 1: £22.30 in premiums + £21.07 in overpayment + 8% simple interest from repayment of the loan (October 2005) to date

Loan 2: £90.39 in premiums + £219.60 in overpayment + 8% simple interest from repayment of the loan (February 2006) to date

Loan 3: £569.37 in premiums + £963.81 in overpayment + 8% simple interest from repayment of the loan (April 2007) to date

I'm more than happy with their decision and will be accepting their offer

I didn't have any details of my loan accounts other than the dates I took them out (which I got from my credit report), Nationwide located them all, sent me a holding letter within 7 days letting me know I'd have a decision by the end of July and they've done it in just 4 weeks

I wouldn't have bothered claiming this money back if it wasn't for this forum so a big thanks to everyone who has had/is waiting for success and to everyone who provides much needed advice, you all deserve a gold star!!!

Well done to you, great work!:T:j & Congratulations!:beer:

di3004

h0pusp0pus wrote: »

good morning every well ive heard from hfc bank this morning and its good news they have decided to uphold my complain and im to receive a refund of £4032.04 :j :money:

i borrowed £5000 over 7 years paind it off in 2009

break down as follows 66.6 premiums paid 2/9/2003 to 04/03/2009
£2861.56

balancing premium refund for early settlement £0.00 (what ever that is???)

plus interest at 8% £1170.48

total offer = £4032.04 pence

is this the first hfc refund do we know?

im delighted one question though going by the break down does this mean thay arnt going to give me interest on the premiums i paid over the 10 years??

in the covering letter it says i propose to offer you the amount of £4032.05 in full and final settlement of your complaint with hfc banl this figure will effectivly return the payment protection premiums you have paid (including interest) details of the offer are shown in the acceptence of offer form enclosed
you should note that this offer includes an element of 8% statutory interest amount to £1170.48

now does this mean ive had only the 8% interest added or has 10 years worth of interest also been added as well??

id like to add a huge thank you to di and amersall and everyone elses help on mse for all your help and advice and kind words couldnt of done it with out you

and also a very kind woman who originaly put a post up on the loquax competition forum letting me know about the miss selling of ppi insurance in the first place

Brilliant :T:j Well done to you and Congratulations!:beer:

Sometimes they don't always make it clear, but in my opinion its possibly the interest of the loan term, well done!:T

di3004

*cassius* wrote: »

I got my letter this morning with a refund of £991 from RBS as a refund on ppi payments many thanks to the board for all the great advice that has been posted on here with how to claim

I only have one question in relation to the payment, the letter i received doesnt make any mention of the 8% interest nor does it break down the refund as to what was paid out by me originally with regards to the loan and ppi payments on it, can i request that the calculations for this be sent to me so i can double check the interest is included or is it RBS policy not to give the 8% interest ? would it be worth me ringing the FOS and requesting they speak with them to confirm if the 8% interest is included ?

Congratulations and well done!:T:beer::j

To double check on this you can ask them to send you a detailed written breakdown, they should provide them on request.;)

di3004

Tropicalmoments wrote: »

I received a letter re my Egg loan this morning that said that they have reviewed my account and their records indicate that I never actually purchased this product nor has it ever been applied or charged to my account :mad:. Which is interesting because I found the original agreement which included the Egg Loan Protection Policy and pricing statement for a total of £907.43.

Unfortunately I notice that my online egg statements only date back to the last 2 years and I cancelled all ppi in 2006 so I can't prove that I was making any PPI payments.

I have put in a SAR to Egg so it will be interesting to see what comes back from that.

Anyway slightly disappointed by this response.:(

Tm

Hi there

The fact that you do have proof of the PPI on the agreement is concrete evidence that you were paying for this, I would if you have not done so yet send them a copy and ask them "whats this then"?
Keep at them, they will find the details. Good luck.;)

tifosi

h0pusp0pus wrote: »

good morning every well ive heard from hfc bank this morning and its good news they have decided to uphold my complain and im to receive a refund of £4032.04 :j :money:

i borrowed £5000 over 7 years paind it off in 2009
...............

..................

HP,

how long did it take from your first complaint to offer?


Thanks!

(and Congrats!!)