PPI Reclaiming successes and failures

Dizzywithmoney

Hey, I got a letter from Barclays today (sadly not the one I am waiting for) but they have finally found an old loan I told them I had and yes I did have PPI on it. I took out this loan in January 2004 and paid it off in full in September 2005 but I cannot work out how or what they actually refunded me when I paid it off. These are the figures if anyone can work it out for me

Loan amount was for £5000 - Premium Loan (PPI apparently) £1224.08
Total charge for credit £2546.80 - charge for PPI £623.92
MOnthly repayment - loan £125.78, PPI £30.80

Paid this loan off after 20 months, the rebates state as follows:
Amount Post balance
Unallocated payoff £4836.57 1873,19
REbate credit £1873.19
Rebates applied £ 265.93
Rebates applied £1085,52
Rebates applied £ 521.74

I realise that the 3 rebates applied add up to the rebate credit but I still cant work out how much |I was rebated off the PPI - can anyone help please?

I have filled out a new FOS form ready to send off in the morning anyway!!

Niggly_2

Dizzywithmoney wrote: »

Hey, I got a letter from Barclays today (sadly not the one I am waiting for) but they have finally found an old loan I told them I had and yes I did have PPI on it. I took out this loan in January 2004 and paid it off in full in September 2005 but I cannot work out how or what they actually refunded me when I paid it off. These are the figures if anyone can work it out for me

Loan amount was for £5000 - Premium Loan (PPI apparently) £1224.08
Total charge for credit £2546.80 - charge for PPI £623.92
MOnthly repayment - loan £125.78, PPI £30.80

Paid this loan off after 20 months, the rebates state as follows:
Amount Post balance
Unallocated payoff £4836.57 1873,19
REbate credit £1873.19
Rebates applied £ 265.93
Rebates applied £1085,52
Rebates applied £ 521.74

I realise that the 3 rebates applied add up to the rebate credit but I still cant work out how much |I was rebated off the PPI - can anyone help please?

I have filled out a new FOS form ready to send off in the morning anyway!!

If the total loan was £6224.08 then the ppi was 1224.08/6224.08 x 100 = 19.67%

So it makes sense that the rebate to ppi would be 19.67%

If the total rebate was £1873.19 in total then the ppi rebate would be £368.46. However with some ppi policies they state the cost of them are mostly up front. If your lucky the cancellation rebate table will be in the policy document. What I am saying is the rebate may be even smaller.

Did you take out another loan and take ppi out again or just payoff?

N

di3004

LouisJK wrote: »

So gets in an checks the floor, like I have been doing for the past 11 months. Sees I have an HSBC letter and it looks bulky. Nerves kick in now.
Franticly opens the letter and an FOS leaflet falls out . First thought was, rejection. Didn't even read the first page, skipped right to find any figures. Now I was expecting around £2500 but the words in bold said, "we offer you £908.42:(. So mixed emotions at this point. It had been upheld but at a very low refund, or so I thought .
So I get a grip of myself and read the letter fully, which I should of done in the first place. I still owe £3,088.34 on my account, which has got about a year to run. They have offered to repay that balance and refund me the £908.42 :j:T:rotfl:.
Now don't get me wrong, I was expecting the money in my pocket and was only expecting £2500 with the debt still to pay. Now am debt free and £908 in me bank and I have £280 at my disposal again every month.
Wooo hooo.

They even went back to ppi I didn't even know I had, only small amounts but it all added up.

Can't thank this site enough. Di, on Beagles and on here and you Ammersal. :beer:.

Hopefull this gives hope to all those waiting on a HSBC desicison.

My complaint went in in October and was delayed due to the JR. I had signed and received a pack all about the policy even though I can't remember doing it. I wasn't allowed to cancel the policy and it was that that prompted me to complain. Silly HSBC, I was willing for them to just stop my £50 payment for the remaining time of the loan and i'd of been happy. Even happier now:)

That is absolutely fab, well done and Congratulations!:T:beer::j

You are most welcome x:A;)

di3004

nanna79 wrote: »

Has anyone had any luck with claiming back PPI on a tesco credit card??

And can anyone help out with the address to send the questionnaire to?

Cheers

Nanna x

Hi Nanna

Found some details directly on Tesco Finance website,
http://www.tescobank.com/personal/finance/help/complaints-process.html

I understand there has been success against these, good luck.;) xx

di3004

smuggs2009 wrote: »

good afternoon all,

Still trying with mbna for alliance and Leicester c/card, today is the final day and tried calling them and they're arranging for a manager call back today.

Why are they taking so long?

any ideas of how to speed this up?

We cant afford to make monthly payments at the moment and in arrears and getting charges, so the longer this goes on the less money we'll get back.

Any help??? cheers chris

Hi

Have you also tried emailing the CEO?

di3004

precious12 wrote: »

Today received a letter for 4,500 from lloyds so it took them less then a week to sort out there figures after they told me 8 weeks i think those 3 emails i sent them this week alone helped i,m over the moon 2 credit cards to go with them going to the travel agents now to book my well deserved holiday to the carribean :beer::beer::beer:

Brilliant :T:j Congratulations:beer:

di3004

toadyfrog wrote: »

Hi,

What should I do if I have ticked the box for PPI and signed it on a credit card application???

Thanks

Hi there

Was it a automatic cross marked by the bank/business perhaps?

Even if signed, you may still have been mis sold, may they pressurised you into taking it out, and remember we all have to sign our agreements, but still have reasons to make a reclaim.;)

nanna79

amersall wrote: »

http://www.tescobank.com/personal/finance/creditcards/contact.html
Does this help?.
Not sure if it right but i am sure if it is not someone who has had dealings with these will post x.

Thanks Amersall

Nanna x

julieprit2

tifosi wrote: »

How can they claim its all assessed on an individual basis (your complaint was regards the lngth of time taken, not a particular reason at to why you were/were not being compensated) when they also state they are working through them in order

The post above referencing a p[ayout within 1 week of agreement to settle makes clear they are NOT working in date order

Surely even a monkey could sort things in date order?

I know exactly! Obviously I know that everyones case is different, my point to them, which was quite clear, was that they keep emailing me saying they are dealing with complaints in strict date order, and from the information I have gleaned from online, this is evidently not the case!!

Sigh, I don't even have the energy to email them again at the minute to be honest lol.

Got a letter from their Data Protection Department saying that it wasn't reasonable for them to have documents from 15 and 13 years ago. They said they could confirm however there was PPI on my loans. They said my bank accounts, whilst the statements would show how much my loan payments were, they wouldn't show the split of PPI and loan etc. Obviously I knew this to be the case but at least I know I defo had PPI on my loans. :j:j

Hope they dont say they dont know how much ppi i had due to length of time :mad:

LongTimeLurker_3

As you can probably tell from the forumname, I've been a longtime lurker on this site, but this is the first time I've posted. So...

• What was I reclaiming?: Unsecured Loan
• Who was the provider?: NRAM (Northern Rock)
• How much did I get back: £2200
• Did I get it back after a letter or did I go to the Financial Ombudsman: A letter
• And my brief reclaim tale: Don't think many people have posted admitting it, but I have to say that my PPI reclaiming story didn't start on this site - don't throw rotten vegetables, I got here in the end...

Anyway, I was looking at an old NRAM loan agreement to see when it ended, and I noticed the Loanprotect figure on it, and that rang a bell about mis-selling and all that stuff. So I went onto the Which website and found a template-type thing there, printed it off and posted it - I didn't have all the info about the loan, and it was one of those pre-loaded ones, both of which I gathered were reasons to claim.

I posted the letter off mid-May, and as I started to wonder if I'd wasted the cost of a stamp, a bit of trawling round the interweb brought me to this site, and pretty much every day I've checked in, and like loads of people I've been excited to see folks getting refunds, and been really impressed by the friendly atmosphere - and especially by people like di and amersall, who seem to spend hours every day helping people. How lovely is that? Really restores my faith in human nature!

Anyway, about ten days after my initial letter to NRAM, I got an acknowledgment, and then last weekend, I got a 'still working on it, you can go to the FOS if you like' letter, and then this morning I got a letter saying that the claim had been upheld, with an agreement form.

All payments and interest and 8% interest - so that's £2200, which is enough to pay off a couple of medium-sized debts, and hopefully leaves a bit left for me and Mrs LongTimeLurker to have a long weekend away or something (though I'm not spending it until the BACS payment actually goes through!). A terrific surprise.

NRAM took about seven weeks with this altogether, just in case you're waiting to hear from them - granted, my case might not be the same as yours, but if you're waiting to hear back on a PPI reclaim from NRAM or anywhere else, I wish you good luck - but in the meantime, I'd keep looking at this forum, it's a great way to keep your hopes up, and also give you info on how to get an idea of whether any offer is reasonable or not.

All the best to you, lovely MSE folks, and all the best with your re-claims!