PPI Reclaiming successes and failures

nick2011

I had a loan which I settled in full in 2007 which had about £3000 PPI . Loan was granted in 2002.
After surfuing this forum I submit PPI consumer questionnaire to Natwest with all the loan details & I told them that they have mis-sold PPI to me.


Last week I've got letter from Natwest PPI refund+Interest= £ 4030. which I accept.

Thanks for everyone their help and now I am a happy bunny :rotfl:

di3004

Little_Miss_Uni-Debt wrote: »

Thanks to Di and Amersall for your advice.

My loan ran from July 07 and was paid in full Oct 09. I originally complained to HSBC via a series of letters in Feb 08 because they had mis-sold me and incorrectly advised me when I actually tried to claim.

They told me I could only cancel the policy and that I couldn't get a refund of premiums paid to date. They took a very odd amount off the remaining loan in Mar 08 - £373.27 and my monthly payments dropped by £15.

I am currently presuming that my PPI premium was £15 x 9 payments made, though this doesn't add up with the cancellation amount.

Hopefully my SAR will shed some light on the matter of the odd numbers and give me my exact premium.

Say I get my 9x £15 premiums back plus the 8% from when the premium was taken to date - I calculate this as :-

£135 premiums
£40.50 8% interest
Total possible refund of £175.50

Does this look about right?

Thanks guys! :j

Your very welcome.:A

I'm sure perhaps Niggly will have a looksie at this for you.

Me and calculations, say no more!:eek::o:D, good luck x

di3004

julieprit2 wrote: »

Well after seeing yet another post from someone last night saying that Lloyds have settled their complaint and this one was from March (Sorry can't remember whose it was!) I decided to email their customer care and ceo again.

Have been emailing about once a week but keep getting told 31st August etc and that they are dealing with complaints in strict date order. Also had one saying "to ensure potential redress is correct it may take some time etc. etc." email also.

Anyway, I emailed them again last night and said I fail to see how they are dealing in strict date order if claims from March are being settled and mine has been ongoing since October 2010. No response yet but will let you know what they say :eek:

Also had a letter from FOS regarding my Dorothy Perkins Store Card (though they had written Santander (Debenhams?). Basically they have referred it to the underwriter/insurer so will see what comes of that.

Still not a dicky bird from Barclaycard - anyone else heard?

Good luck for all you receiving letters today!

Hi there

Cheers for your update.

I read somewhere that someone had contacted the FSA, and that was in regards of Lloyds as well, they appararently contacted them and within a short time the reclaim was resolved.

Good luck on all yours x;)

di3004

nickfezz wrote: »

Just had a result from American Express.

As a gesture of goodwill they will be repaying my premiums on my credit card of £444.22 plus interest of 116.12.

I only sent the initial letter last Tuesday.

Citi Financial on the other hand have basically told me to go away and referred me to the FLA. What should I do now? Is this a standard letter from Citi? Are they trying it on in the hope I do go away?

Thanks to all on here for their invaluable advice. I've not posted much but have been guided by Di and Amersall, many thanks

Well done and Congratulations!:T:beer: its our pleasure x:A

If the FLA end up turning you away as well then contact the FOS who will possibly suggest another direction to try, they normally suggest the underwriter/insurer of the policy as another avenue who would have been regulated.
Good luck.

Mrs_Impatient

hellosunshineboy wrote: »

Hi all, first time poster but long time lurker! So please go easy on me (i bruise like a peach )

i submitted a claim into RBS via their ppi helpline number on the23rd of May so i thought i would chance my arm and see if i had any update as the original 8 weeks is up. in a nutshell i was told they havnt even looked at my complaint yet! and they dont think they will get a chance for at least another 4 weeks :mad::mad:

has anyone had any RBS claims that have come back before the 16 weeks?

cheers ya'll!

Sorry to depress you but I have had a claim in with RBS since last August, I have rung them and emailed them the last of which they did respond to, to say we will reply by 31 August yarda yarda yarda!!

di3004

Derwent wrote: »

Hi All

I've just received my offer letter from HSBC but they appear not to be adding on the contractual credit card interest of 29.9% APR

The offer is basically a refund of premiums plus 8% simple interest.

Are they obliged to repay the contractual interest as well ?

Well done:T & Congrats:beer:

I understand credit card ppi works out differently to loan ppi, but maybe someone such as Niggly will clarify on this soon, good luck.

di3004

nick2011 wrote: »

I had a loan which I settled in full in 2007 which had about £3000 PPI . Loan was granted in 2002.
After surfuing this forum I submit PPI consumer questionnaire to Natwest with all the loan details & I told them that they have mis-sold PPI to me.


Last week I've got letter from Natwest PPI refund+Interest= £ 4030. which I accept.

Thanks for everyone their help and now I am a happy bunny :rotfl:

Brilliant!:T:j Congratulations!:beer:

julieprit2

di3004 wrote: »

Hi there

Cheers for your update.

I read somewhere that someone had contacted the FSA, and that was in regards of Lloyds as well, they appararently contacted them and within a short time the reclaim was resolved.

Good luck on all yours x;)

Oh really? That's interesting I didn't realise the FSA would get involved in this!


I have waited 8 months for resolution and now I am so impatient and just cannot wait until 31st August :rotfl:

Plus, I've ordered some fab new Kurt Geiger shoes so someone best dig deep and pay up :rotfl::rotfl::D

nickfezz

di3004 wrote: »

Well done and Congratulations!:T:beer: its our pleasure x:A

If the FLA end up turning you away as well then contact the FOS who will possibly suggest another direction to try, they normally suggest the underwriter/insurer of the policy as another avenue who would have been regulated.
Good luck.

So does this mean they werent regulated at the time the PPI was sold?

Niggly_2

di3004 wrote: »

Well done:T & Congrats:beer:

I understand credit card ppi works out differently to loan ppi, but maybe someone such as Niggly will clarify on this soon, good luck.

The FOS state 8% according to the handbook. It also states though that the client should be put back in a position if the PPI didnt exist. So you could argue for the 29.9%. You would have to bring it up with them before acceptance.

The figs dont look exactly brilliant either. If you assume that you paid an average of £21.71 a month then thats 74 months payments of 8 % interest £461.77 gross (£369.42 net of 20% tax).

Then £461.77 plus £1606.23 = £2068 x 8%/12 x 3 = £41.36 (33.09 net)

Total in region of £2109. I suppose the amount of ppi could have varied in each month.

Worth a ring back for breakdown of figs and check of the 29.9%

Check out the FOS redress case studies here it may help you

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/redress.html

N