PPI Reclaiming successes and failures

di3004

woodybuzz wrote: »

I posted in October about my partners HSBC Graduate Loan and the Single Premium PPI -and went for it.

In a nutshell one letter and a holding reply later - £3194.65 refund!!!

Many thanks to Di and Marshallka for their inspiration and confidence.

She has a "re-structuring" meeting with the bank tomorrow so if I post some figures up can anyone lend a hand with the calculations and what she should expect?

Brilliant work well done !:T :beer: :j , fantastic news this.

Right as soon as you receive the figures please feel free to post up on here or the actual PPI reclam forum, where this will get checked out for you, however I am not he one for calculations myself but Marshallka is cool when it comes to this sort of thing and I'm sure she will be happy to check this out for you.;)

Well done to you again....:T :beer: :j .

Di
x

woodybuzz

di3004 wrote: »

Brilliant work well done !:T :beer: :j , fantastic news this.

Right as soon as you receive the figures please feel free to post up on here or the actual PPI reclam forum, where this will get checked out for you, however I am not he one for calculations myself but Marshallka is cool when it comes to this sort of thing and I'm sure she will be happy to check this out for you.;)

Well done to you again....:T :beer: :j .

Di
x

Right - eyes down!

Loan of £15,000 taken out in June 05.
1 pyt of £230.31 + 83 of £231.03 - APR 7.9% - total charge for credit £4405.80
Total amount payable = £19405.80

Bloody PPI Premium £4232.40
1 pyt of £65.82 +83 of £65.14 - APR 7.9% total charge for credit £1242.44
Total amount payable = £5472.44

43 payments have been made to date.

Refund offered is £2801.70 + "taxable" interest of £392.95 = £3194.65

Big Question is how much is left to pay over the remaining 41 pyts at 7.9%??

All help & guidance appreciated!

chartreuse_2

di3004 wrote: »

Hi there and well done :T :beer: :j , I would not worry hun, see what amounts they post up with and if you feel this is not right then you can always post up on the PPI reclaim forum where these can be checked for you, they usually put this right as if PPI were not taken, plus interest and generally 8% of what a court would award.;)

Hope this helps and don't forget to keep us updated on this cheers and again well done to you - WOW.......:T :beer: .

Di
x

Thanks for the applause, Di, but you've hit the nail on the head about my uncertainty. You see, the letter came with a settlement form for me to sign, in full and final settlement. But with no numbers.

So you see my concern? Would I be signing away my right to dispute, without knowing what I'd get?

deborah46

Thanks to this site and to Martin Lewis, i have received a refund of ppi on 3 loans i had with Halifax. This has been paid into my bank today. 2 loans were from 2002 and 1 from 2003. I only sent 1 letter and a few phone calls added in for good measure, the refund comes to a grand total of £5798.54!!!
Thanks to everyones help and do not be fobbed off.
Initial letter was sent on 31/10/08, letter received telling me they are paying me back 27/11/08, payment in the bank 4/12/08.
FANTASTIC
MERRY XMAS x x x:T :T :T

marshallka

woodybuzz wrote: »

Right - eyes down!

Loan of £15,000 taken out in June 05.
1 pyt of £230.31 + 83 of £231.03 - APR 7.9% - total charge for credit £4405.80
Total amount payable = £19405.80

Bloody PPI Premium £4232.40
1 pyt of £65.82 +83 of £65.14 - APR 7.9% total charge for credit £1242.44
Total amount payable = £5472.44

43 payments have been made to date.

Refund offered is £2801.70 + "taxable" interest of £392.95 = £3194.65

Big Question is how much is left to pay over the remaining 41 pyts at 7.9%??

All help & guidance appreciated!

Posted on the other thread for you...;) . (PPI reclaiming discussion!!)

They are refunding you straight by taking the 5472.44 being the PPI and interest and then dividing it by 84 and then timesing it by 43 which comes to the amount of the refund offered.

There is then £9471.89 left on the loan and interest without the PPI (this is by doing the same with the loan amount) so if that is now over 41 payments and the same APR(?????) it should be £231.02 per month...still thereabouts..

marshallka

chartreuse wrote: »

Hi all
So, after much posting on the other thread and many letters exchanged with RBS, I finally complained to the FoS about three PPI policies (it was a situation where I was led to believe that I'd need to take out the policies to get the loans).

Today I received a letter from the FoS saying that RBS had agreed to settle my complaint as a "goodwill gesture". It doesn't say how much they'll refund, but it does say that they'll calculate what I paid, calculate what I would have paid without the PPI, and give me the difference plus 8% interest from the date the loan was settled.

My questions are:
1. The letter refers to "loan" and "policy" - singular. But I complained about three. Is this something I should worry about?
2. Should the statutory interest be from when the loan was settled, or from when I gave them the money?

I'd be very grateful for any advice.

I would certainly ring the adjudicator and ask if this is for ALL loans before signing as you could sign for full and final...

What happened first with mine was Co-op offered to settle one of my four loans...I then agreed on the basis that they look into the others tooand this was not FULL and FINAL on ALL loans. My adjudicator then got back to them and asked if they would "GOODWILL" the others and they did another 2 as neither me or the bank had no paperwork for the 4th one so I would definately get back to them asap. Usually FOS looks at it as if they offer goodwill on one then they will offer on the others too. Do not accept without knowing this as they could say its FULL and FINAL.

That is how mine was settled from the FOS too and although I thought the figures were wrong they are actually right. I signed without knowing but it looks like with mine they are refunding as if you never had the PPI and also with the statutory interest being "goodwill" there is no tax due on it either from what I have since found out from HMRC and misselling issues.. (ex gratia!!).



Let us know how you get on.

chartreuse_2

marshallka wrote: »

I would certainly ring the adjudicator and ask if this is for ALL loans before signing as you could sign for full and final...

[snip]

Let us know how you get on.

I will
As suggested, I called the FoS. I asked my two questions and got answers.
1. It's for all three policies. Hooray!
2. The thing about statutory interest from date of settlement (rather than when I paid the money) is in line with the FoS guidelines. And, to be honest, I wasn't really up for having a fight about it anyway.

So, I've signed the acceptance form and will pop it in the post today. I'm still not sure how much to expect (though I could probably work out a rough figure) but I'm confident that it'll be what I'm owed.

I am a very happy kitten! :j

Thanks to Martin and all here. Result!

Silverbird

sharky620ti wrote: »

How long did you guys have to wait from sending the acceptance form til you recieved your cheque from Alliance and Leicester?

As I've been waiting for just over a month now.


chris

Hi Chris

Don't worry. I've written to A&L and I have been waiting since 30 October and still nothing. They've confirmed receipt of my letter and then I got another letter on Saturday last week apologising for the delay, but stating they would be in touch shortly.

If they haven't settled by the 8th week then I'll be writing to the Ombudsman.

I do wonder if perhaps it's because my claim isn't going to be particularly high (I think it may be around the £500 mark). Perhaps they're concentrating on the higher claims first?

I'm sure we'll both hear soon.

Best of luck.

di3004

chartreuse wrote: »

Thanks for the applause, Di, but you've hit the nail on the head about my uncertainty. You see, the letter came with a settlement form for me to sign, in full and final settlement. But with no numbers.

So you see my concern? Would I be signing away my right to dispute, without knowing what I'd get?

Hi hun
Best to know what your signing for if you can, so request a breakdown of calculations of this from them, ask in writing though hun, this is your proof and if posted by first class recorded delivery if you can so it will get to them quicker and ask them to post this as a hard copy for as soon as possible, if you want to ring them as well it will be okay but in writing you have covered all areas here.
Good luck and I hope its the money your hoping for and which should be every penny of the PPI plus interest etc.;)

No_more_credit_thanks

Original Loan amount 9,000
Paid back after a year but was charged full PPI costs. So claiming back what i didn't use.

Sent a letter 14/11/08

• 1st response within a week saying they had received the complaint
• 2nd letter 1 week later saying they were acknowledging the complaint
• 3rd letter received 3/12/08 saying they would be paying me back what they owed plus interest charged plus 8% statutory interest. Sending a cheque within next 14 days.

Total refund - £1558

No hassle whatsoever, hope others are as lucky as me in not having to put any effort in!