PPI Reclaiming successes and failures

di3004

eggshoes wrote: »

I used your templates from the website to reclaim £1540 from my PPI from a Santander for a loan I had 5 years ago.
The last payment was on the 25/7/11.
All it took was the short time to fill in the template and the price of 1 stamp.

Can't thank you enough.

Fantastic!:j:T Congratulations!:beer:

reecekari

heretomaternity wrote: »

Thought I'd give hope for those waiting on Barclays as can't see many recent successes from Had an old Masterloan for £5000 from 2001 paid off in 2006 and put in a complaint in Oct 2010. Was put on hold and after receiving the goodwill letter in June have been ringing Barclays once a week for an update as advised on this site.
Finally emailed the CEO a week ago again as advised by you lovely people,and on Friday missed a call from Barclays so had to ring them on Monday to be told I would be getting a cheque for 2500 :j:beer: Cheque came today so happy days!
I nearly gave up on this one but this site kept me going. Thanks for all your advice, patience and inspiration guys. :j

Dear Heretomaternity, yay someone who has got paid out by Barclays. I posted last week, completly given the run around by Barclays!! gave up on emailing & calling! Put my complaint in last Nov! Do u have the CEO's email address please? Thank you
Peace:)
Reece

MattyA

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

Blimey - well done to you with your rapid success.

I have been arguing with this shower since last September & have 2 claims now with FOS - both upheld but Amex wont pay either so both are now with Ombudsman.

MattyA

smitchy73 wrote: »

I've looked at the FSA guidance(ps10-12-fsa-guidance-pdf), in the Final Handbook text, section 'appendix 2', and it is example 6, it has a redress table, and it states on there that 8% simple interest only gets added if in credit(or I would assume zero balance?!!)

Can you then assume that it should be added once the cumulative total of the ( wrongly ) applied PPI premiums + Interest applied amounts to more than the outstanding balance pne the card?
Which would in effect represent a zero balance?

Matty

MattyA

IANC wrote: »

Hi Matty

The whole point of a refund of PPI is that you haven't been disadvantaged.

The PPI premiums were added to your credit card and suffered the prevailing rate applicable to your card for the duration that there was still an outstanding balance.

People seem very happy when they get their premiums back with associated interest, however that still means that you are disadvantaged because you have not had use of that money/been able to invest it in the meantime.

In compensation claims, the courts award a statutory level of interest which is 8%, and is believed too be suficient to cover this consequential loss of being deprived of capital.

This is why institutions use this figure.

Therefore, in order to ensure you are not disadvantaged, you should receive the following.

Return of premiums + Associated Interest + 8% for every monthly payment from the date that it was paid until now.

That is what I will fight for if I am offered less.

I agree totally with your comments - this is my stance also!

Matty

smitchy73

MattyA wrote: »

Can you then assume that it should be added once the cumulative total of the ( wrongly ) applied PPI premiums + Interest applied amounts to more than the outstanding balance pne the card?
Which would in effect represent a zero balance?

Matty

Matty, You know something I aint got a clue I spent two hours today at lunchtime(long lunch today) and I was left with a sore head trying to figure it out, some seem to pay out 8% on the ppi payment from the date they were charged, plus the standard interest rate, others for CC's only pay out if you were in credit, which most cards don't allow you to do, so sorry to say I aint got a clue, Niggly seems to be well clued up on the CC scene! Niggly any clues on this one??

Niggly_2

smitchy73 wrote: »

Matty, You know something I aint got a clue I spent two hours today at lunchtime(long lunch today) and I was left with a sore head trying to figure it out, some seem to pay out 8% on the ppi payment from the date they were charged, plus the standard interest rate, others for CC's only pay out if you were in credit, which most cards don't allow you to do, so sorry to say I aint got a clue, Niggly seems to be well clued up on the CC scene! Niggly any clues on this one??

I need all the financial details you have got. Come back to me with dates, whether the card is still in existence, is the ppi still in existence.
Any start dates and finish dates of cards. Who its with. payments of ppi and when. any rebates or early settlements given.Anything else you have. I have case studies and worked examples to fall back on. However the devil is in the detail.

n

bflare

reecekari wrote: »

Dear Heretomaternity, yay someone who has got paid out by Barclays. I posted last week, completly given the run around by Barclays!! gave up on emailing & calling! Put my complaint in last Nov! Do u have the CEO's email address please? Thank you
Peace:)
Reece

Here you go: robert.diamond@barclaysplc.com

i emailed Mr Diamond this Tuesday gone but not heard a thing yet.

Tony.

nickfezz

MattyA wrote: »

Blimey - well done to you with your rapid success.

I have been arguing with this shower since last September & have 2 claims now with FOS - both upheld but Amex wont pay either so both are now with Ombudsman.

Got home last night to see the original paper application that I filled in in 2004. The PPI box is not ticked and there is no signature in same box, so they didnt really have a leg to stand on.

Dan_Iggulden

I also have an outstanding claim with Barclays, well Barclaycard. I have waited patiently until now, have emailed Mr Diamond today although not expecting a rapid response, will updatee here if I get anywhere!