PPI Reclaiming successes and failures

Riggsy1367

IANC wrote: »

The more I read the success stories, the more I think mine could be a large payout.

Halifax Credit Card with an average balance of £3k for 13 years.

And 7 loans over the same period. Granted, in all of the cases, one loan repaid the last and added a bit.

One of them is a £20k loan over 25 years and I have paid £130 per month for about 5 years so far.

Then a loan and credit card with HSBC. The credit card was probably only held for say 2 years and had a balance of up to £3,500 and this was repaid with the loan (£5k over 5 years) and has 1 year left to run).

Fingers are well and Truly crossed and I am now approaching week 8.

Sooooo impatient and the waiting is killing me :rotfl:

Ooooohh!
Can't wait to see how much you get offered. Best of luck and can you keep a running total with your updates so we can all get jealous?;)

di3004

IANC wrote: »

Quick question Di.

The Halifax loan has about £17.5k outstanding. I assume future PPI will be removed and therefore the monthly premium should be lower. But if the payout is lower than the outstanding balance, do you think they will send a cheque, or reduce the outstanding balance?

Also, my credit card only has a balance of around £900. If the PPI reclaim for that is larger, I assume they will clear the balance and send me a cheque/put the funds into my halifax current account.

Have you heard of any cases where they pool the funds to pay balances off for different types of borrowing (if they are with the same institution)?

Ie if the total payout were £18k (I wish), would halifax be allowed to just say that they have wiped the slate? Chances are that I will repay the lot anyway although my racing car does need new tyres :rotfl:

Hi Ian, sorry for the delay in responding.

I understand banks differ to one another, but realistically once all resolved, the monthly repayments should be reduced, however I have read that some have had issues where this have not been the case so keep an eye on that just in case.
But despite that I would assume a cheque would be sent, and maybe the balance reduced as well, because PPI should actually be removed and what you have paid plus interest should come back to you.
Hope that makes sense.;)

That also sounds about right in regards of the credit card, if that is higher, then the remaining should be refunded directly to you, plus interest.

Well in my case, we had a few loans with Lloyds, and one was outstanding, they refunded us directly on the settled accounts and the one outstanding they refunded the amount to that account and we received the interest, also the monthly repayments reduced if I remember correctly, this one was one of the earlier reclaims, but the balance debt was reduced.

Again with banks working differently I am not too certain on how Halifax works, but if there is anything remaining from any of them once resolved, they should all be refunded directly to you, you should at least receive something back anyway.
Good luck and with the tyres too, I know they're not cheap:eek: I remember with our Subaru:eek:.

All crossed here for you though, good luck.:);)

amersall

bigtallpaul wrote: »

Hi,

I rang MBNA this morning and after a 25 minute wait to get through to their customer service department, I said I had sent in a claim form in March and after a couple of letters back to me extending the time they needed, I had heard nothing since the middle of May.

The guy I spoke to was very helpful and said the notes indicated i should have been sent an offer letter on the 24th June. He put me on hold while he spoke to the PPI team and came back and said I was due a payment of £7,784 which included the refund of all payments plus interest and compensation!! :beer: He said he would arrange for a copy of the letter to be sent out so i could check the breakdown.

I would encourage anyone to put their claim in themselves as all I did was fill in the form on this website (which took about 20 minutes) and send it off at the cost of a stamp. I didnt even need to send any other paperwork or old statements. I obtained the details of when I opened the credit card account from my experian credit file which I got online for free.

Just Barclays and Mint to go now!! Thanks to everyone on this website and in particular this forum for the great advice and encouragement they provide.

Paul

Yaaay well done :beer:

amersall

interested_81 wrote: »

Hi everyone don't give up hope just recieved a letter fom MBNA this morning our claim has been upheld

ppi premiums charged since sale date : £1,898.26
total amount off interest associated with the ppi : £2,673.53
Total amount of 8% interest : £716.17
Total amount payable to us : £5,287.96

Sent a letter in march got two letters back extending the time well worth the wait £1,494.55 will be paid off the remaining balance but they say we should recieve a cheque for the rest within the next 28 days my husband still a bit sceptical says he believe it when he sees the cheque and the 0.00 mbna statement ! lol

Want too thank di and amerasal for all there hard work with the forum and thanks to msw as well

My absolute pleasure :A:A
Well done on your win :j:j:j:j:j:j
I will send you my bill very shortly

And i am sure Di will want her share too ;)

But the very good news is we only charge 0%.xxxxx

Rae115

WELL DONE ON YOUR WINS GUYS

i cant wait to start writing about my successess.

especially my citi £8250 credit limit which i had for 8 years - cant wait to see what comes back from that and the dreaded Cap 1 £3500 limit which i had for 10 years.

OH HAPPY DAYS when they start paying up.

amersall

Riggsy1367 wrote: »

I bet you're not on his Christmas card list...;)

Di sure wont be :eek:
she wont be bothered though,cos she is on mine :D:A

JOL69

Right just want to start by saying thanks to afew people on here who gave advice.


It's took a while to get here but i stuck with it as advised.


Right here's the update had a bit of news today by way of a phone call from fos saying the bank of scotland have agreed to settle £2680.

So anybody thinking about doing this just stick with it.It seems a long process but sometimes you can beat these companys that think they are untouchable.

For all starting out on doing a ppi reclaim you could'nt be in a better place the people on here are fantastic and really know their stuff.:beer:

The_Marksman

JOL69 wrote: »

Right just want to start by saying thanks to afew people on here who gave advice.


It's took a while to get here but i stuck with it as advised.


Right here's the update had a bit of news today by way of a phone call from fsb saying the bank of scotland have agreed to settle £2680.

So anybody thinking about doing this just stick with it.It seems a long process but sometimes you can beat these companys that think they are untouchable.

For all starting out on doing a ppi reclaim you could'nt be in a better place the people on here are fantastic and really know their stuff.:beer:

:j:beer: Well done you :beer::j

& great words of encouragement

MattyA

jackaboy19 wrote: »

Hi Paul - can I ask how many years back you are claiming for? I put my claim in in January but when I called last week they said they were still looking at it. The guy didn't sound very convincing so I thought maybe he didn't want to pass on bad news and tell me they're knocking it back. But my claim is back to the early 1990's (!) so I don't know if that takes them longer.

I don't know what I'll do if they refuse my claim . I'm so angry about the fact that I have PPI in the first place. When I took out my CC I had no idea it was included, when I spoke to the girl at the building society at the time she told me the only insurance was for covering any fraud or purchase problems. I didn't know there was another type of insurance (stupid now I know). But I'm not convinced I actually asked for PPI (by that I mean I don't recall ticking any boxes and we definately didn't discuss it and she never explained it)and I'm not convinced it was shown as PPI on the original statements either???

I suppose I'll just have to wait but I would like to know what's causing my delay and no-one at MBNA can tell me and they won't pass you through to their "Financial Services Ombudsman" Team as he called it.

Hi - just to let you know I have recently(last week) had 2 claims upheld with MBNA going back to the late 80's(£18K + 13k).

I have requested a breakdown of their lump sum offer so that I can check that their offer is fair,as it is not clear how far back they have refunded premiums and the interest looks very low on one of them.

That might seem greedy but these !!!!ers have made my life hell over the past year - I just want what is due.

Hope this gives you peace of mind.

Keep at em

Matty

MattyA

Looks like the offers are starting to gather momentum and are coming in thick and fast now - well done to all!!
Matty