PPI Reclaiming successes and failures

nutty_nat

tifosi wrote: »

Hi,

well, as far as the A+L loan is concerned, it ought to be quite easy to work out as you already have the interest charge

So they should pay (roughly):

PPI premium @ £1625.72
Interest on PPI @ £498.28
Interest on the above combined from July 1st 2006 = 854.81

So total due would be around £2969.81

The above is simplistic in that it doesnt allow for any rebate they may have given if you did indeed pay early, and obviously the "July 1st 2006" is a best guess date on my part

Alliance and Leicester were fined £7M by FOS for their telesales tactics around Jan 2005 and Dec 2007, so although your loan was taken prior to this, I'd say you stand a good chance (mine was paid off in 2000 and they paid up!)

I would imagine they gave you "udder" half the spiel regards PPI being required

Best of british, hope they are as forthcoming as they were for mine!

Hi
I wonder if you can help me we had a loan with the Alliance and Leicester from 1995- 2000 which I know had ppi attached to it. I have no account details for this loan now, does anybody know where I could find out the details. I'm afraid I don't do internet banking, have I left this one to long.

di3004

nutty_nat wrote: »

Hi
I wonder if you can help me we had a loan with the Alliance and Leicester from 1995- 2000 which I know had ppi attached to it. I have no account details for this loan now, does anybody know where I could find out the details. I'm afraid I don't do internet banking, have I left this one to long.

Hi

What some do if they have no online banking is call directly in the branch who will or should be willing to check the systems for you, or email them, give them as many details as possible, full name, any change of name, all addresses you were under and so on.
Good luck.;)

The_Marksman

nutty_nat wrote: »

Hi
I wonder if you can help me we had a loan with the Alliance and Leicester from 1995- 2000 which I know had ppi attached to it. I have no account details for this loan now, does anybody know where I could find out the details. I'm afraid I don't do internet banking, have I left this one to long.

im not 100% sure but i would say you havent as long as you make it clear on the consumer questionnaire that you have only just become aware of the mis-selling of ppi.

You can obtain the information needed to complete the questionnaire via a SAR request for a fee of £10, all call into the branch or even over the phone. they may even start the compaint over the phone, so be armed with your reasons for mis-sell.

the basic details you will need would be:

• account number
• start date
• date account closed

hope that helps a little, way it up for yourself £10 + postage for the questionnaire and a bit of your time and you may get a upheld complaint worth a few more pounds!! or be rejected due to time barring, which still isnt a total loss as you may be able to go to the FOS and maybe loss £10-£15

beverleykim

tifosi wrote: »

Hi,

was this a loan or credit card?

When did it start and end?

What was the interest rate for the loan/credit card?

If a credit card, do you have an agreement that shows how they applied payments made? (as in what order were the following paid - purchases balance, balance transfer balance, cash balance, ppi premiums)

£37.63 in interest sounds VERY low on £2,067.14

Hi, and thanks for your comments.

This was for a credit card in my husband's name. We do not have any statements now, but managed to find the credit card number on an old bank statement around 2005(just call me Miss Marple!!). We made a final payment in September 2006 and closed the account in June 2009 (Cap 1 advised us of this). I have no idea of when the card started, and no record of PPI made, so cannot query amounts as we do not have any back up evidence. We just remembered that he paid PPI on this card even though he was self-employed since 1984.

We originally sent in a letter asking for terms and conditions of this card, Cap 1 wrote back saying that they had no obligation to provide us with a copy of the documents requested but guessed we were enquiring with regard to PPI and suggested that we wrote in setting out the reasons why we felt he had been mis-sold. Did the standard template letter on 20 June, no acknowledgement was received until saturday offering us £2800+ so overjoyed.

May just send back acceptance letter as really do not feel have the information to query.

tifosi

beverleykim wrote: »

Hi, and thanks for your comments.

This was for a credit card in my husband's name. We do not have any statements now, but managed to find the credit card number on an old bank statement around 2005(just call me Miss Marple!!). We made a final payment in September 2006 and closed the account in June 2009 (Cap 1 advised us of this). I have no idea of when the card started, and no record of PPI made, so cannot query amounts as we do not have any back up evidence. We just remembered that he paid PPI on this card even though he was self-employed since 1984.

We originally sent in a letter asking for terms and conditions of this card, Cap 1 wrote back saying that they had no obligation to provide us with a copy of the documents requested but guessed we were enquiring with regard to PPI and suggested that we wrote in setting out the reasons why we felt he had been mis-sold. Did the standard template letter on 20 June, no acknowledgement was received until saturday offering us £2800+ so overjoyed.

May just send back acceptance letter as really do not feel have the information to query.

I'd be inclined to accept, but then do a Subject Access Request for data on the account - this should go back to at least 2005, but push them for the entire duration of the account

Many people have had data back to 10 years +, so there is a chance

That way, if you discovered from the copy statements that you had paid a lot in PPI, you could go back and demand higher payments from them

tifosi

nutty_nat wrote: »

Hi
I wonder if you can help me we had a loan with the Alliance and Leicester from 1995- 2000 which I know had ppi attached to it. I have no account details for this loan now, does anybody know where I could find out the details. I'm afraid I don't do internet banking, have I left this one to long.

The A+L are normally quite good on things like this

Call their helpline on
0845 600 6014

and just explain the issue, giving your name, date of birth and address at the time of the loan - they may be able to pull up the data from that

beverleykim

tifosi wrote: »

I'd be inclined to accept, but then do a Subject Access Request for data on the account - this should go back to at least 2005, but push them for the entire duration of the account

Many people have had data back to 10 years +, so there is a chance

That way, if you discovered from the copy statements that you had paid a lot in PPI, you could go back and demand higher payments from them

Thanks for your prompt reply. The problem is if we accept now the letter of authorisation states that we cannot take further action against Capital 1, so it is either take their word for it or query it now or never!!

offcumden

beverleykim wrote: »

Hi, and thanks for your comments.

This was for a credit card in my husband's name. We do not have any statements now, but managed to find the credit card number on an old bank statement around 2005(just call me Miss Marple!!). We made a final payment in September 2006 and closed the account in June 2009 (Cap 1 advised us of this). I have no idea of when the card started, and no record of PPI made, so cannot query amounts as we do not have any back up evidence. We just remembered that he paid PPI on this card even though he was self-employed since 1984.

We originally sent in a letter asking for terms and conditions of this card, Cap 1 wrote back saying that they had no obligation to provide us with a copy of the documents requested but guessed we were enquiring with regard to PPI and suggested that we wrote in setting out the reasons why we felt he had been mis-sold. Did the standard template letter on 20 June, no acknowledgement was received until saturday offering us £2800+ so overjoyed.

May just send back acceptance letter as really do not feel have the information to query.

Hi it's your call I sent the following e-mail
To:
rich.fairbank@capitalone.com

Dear Sir,
I have reason to believe that PPI was added to the above account without my knowledge or approval and request that you investigate I have correspondence from you confirming I was a cardholder from 2000, copies of statements from february 2001 to may 2005 when you terminated the PPI during that period period I paid a total of £567.47 in PPI.
I look forward to hearing from you.
Yours faithfully
Two days later they sent me e-mail copy of application form and final decision rejecting
Now with Fos for £2,500 plus

h0pusp0pus

good afternoon everyone right some sort of good news from santander regards my burtons menswear store card i rang them just now and have been told that a letter has been sent to me with an offer and a cheque will be issued to me once i accept

i have had the burtons menswear card dating back to 1996 i think my top amount i owed at anyone time was £2000 and the interest rate roughly 29% the main amount of the balance was cleared back in roughly 2001 2002 although i didnt close the account until about 2009

im to get all premiums paid back

8% interest

and a good will gesture (what ever that is)

but she said the total would be £1150 or there abouts does this seem a bit low to anyone else??

i know when i had the large balance i was paying at least £17.99 in ppi per month which i figure if i had that balance over four years it would add up to £1000 just in ppi payments so surely interest would add up to more than that over 14 years right??

tifosi

h0pusp0pus wrote: »

good afternoon everyone right some sort of good news from santander regards my burtons menswear store card i rang them just now and have been told that a letter has been sent to me with an offer and a cheque will be issued to me once i accept

i have had the burtons menswear card dating back to 1996 i think my top amount i owed at anyone time was £2000 and the interest rate roughly 29% the main amount of the balance was cleared back in roughly 2001 2002 although i didnt close the account until about 2009

im to get all premiums paid back

8% interest

and a good will gesture (what ever that is)

but she said the total would be £1150 or there abouts does this seem a bit low to anyone else??

i know when i had the large balance i was paying at least £17.99 in ppi per month which i figure if i had that balance over four years it would add up to £1000 just in ppi payments so surely interest would add up to more than that over 14 years right??

Hmm

Yes, does sound low

Should be -

PPI payments
Compound interest charged on PPI payments
8% on total of above

If we take your example of a £17.99 premium and say that was charged at 29.9% for 3 (being generous) years =

£21.44 in compound interest

= total of £39.43

So, chances are (going on your "started 1996, main balance almost cleared by 2002" comment) you would have had around 24 (2 years) - 48 (4 years) x £40 (rounding it off), which would equal £960 (24x) or £1920 (48x) in premiums and associated interest

The above is being quite generous I would imagine, and makes no allowance for premiums and interest incurred on the remaining balance after

So

If its £960 taken at (again, being generous) 2004, that would give you 7 years at 8% on £960 = £537.81 = Total of £1497.81

or

If its £1,920 taken at (again, being generous) 2004, that would give you 7 years at 8% on £1,920 = £1075.62 = Total of £2995.62

So it appears as though they are taking the michael with that figure, but my caculations above are VERY simplistic and based on guess work - need the statements to be spot on, and also would welcome comments from our more learned members as to whether the above makes the slightest bit of sense!

Calculator for compound interest can be found HERE