PPI Reclaiming successes and failures

amersall

chuckly wrote: »

Hi all,

I've been a watcher for ages but this is my first post and I need a little advice in regard to HSBC (both loan and CC ppi)

My partner took out a big loan in 2003 and was mis-sold ppi to the total amount of £5796.78! Loan was paid off Oct 2010.

He also took out a CC in Dec 2004 and again was mis sold PPI.

He has both agreements and most of the associated paperwork and statements so after the JR we decided to complete the questionnaire and complain. This was on 17th May.

I focused most of the complaint in regard to the loan PPI and just put a little at the bottom about the CC ppi.

So today, unexpectedly (I wasn't expecting to receive a reply until end of Aug) he received a letter in repsect of the CC PPI.

To quote a few lines they have said

"While I do not agree with your concerns and will not be upholding your complaint, I am conscious that the premiums you have paid total £124.52. I am prepared to offer £130 as a gesture of goodwill, as I'm offering to refund the premiums it is not my intention to respond specifically to the individual issues raised. Please note this letter represents our full response, if you remain dissatisfied you have the right to refer to FOS"

Our first thought was yey a bit of success. But on working it out they have for some unknown reason neglected to pay ALL the premiums back since Dec 2004. They are only going from Aug 2005 which by rough calculation means he's missing about £80.

Is this the typical wording of ALL letters sent out for successes? They have cleverly tried to make it sound so final and also not admitting fault but at the same time if they are not upholding the complaint why on earth are they paying the premiums back!!

I'm thinking of sending another letter direct to the person dealing stating this is unacceptable and that we exepct premiums dated back to the first payment and maybe even send a photocopy of the agreement and statements we have.

Does anyone think this is the correct course of action or have I no option but to go to the ombudsman.

Jenni

Hi jenni, photocopy the statements you have showing the ppi paid then write back to them and say that you want all the ppi back that you have paid.

amersall

congrats to all winners on this forum for this weekend
:j:j:j:j:j:j

And congrats also to the people who do not come on this forum and have had their claims upheld and paid ;)xxx

fight_the_power_2

Good Morning all sent two emails to the ceo of mbna asking if and when my cheque is sent out to me would i be notified when it was being sent out as my postal area is notorious for mail going missing and then asked would it be sent special delivery/recorded mail ,got a reply saying that my cheque had been sent out on the 26th of july surely if it had i would have at least recieved it today !!! or do you think they were just fobbing me off again :mad:

boycey01

Well I received a letter today regarding my Halifax Credit Card PPI. They have upheld it but here's their calculations (you don't need to be a rocket scientist to see this is wrong!)

Refund of premiums = £752.38
Refund of interest = £135.97
Interest at 8% = £ 5.12
Total =£593.47

Now that is £300 short! And how do they work out the 8% interest is only £5.12? I had it from 2001 to 2005 and they say the interest is calculated up until 17 August 2011. Any help would be great
To top it all off they added at the end of my letter "Please note that as your credit card account has a default notice all of the payment is to be used to reduce the outstanding debt and therefore no cash payment will be made." :mad:

I am so angry as I have paid the credit card off, I don't have any outstanding debt. I made my last payment in June this year.

Just phoned the number on the letter but only open mon to fri! So found another number I had from before. Spoke to a really nice lady I told her everything and she said it's obvious they haven't calculated that properly! She's made a note of when I paid my credit card off and she will get the redress team to ring me Monday afternoon after I finish work :mad: Fingers crossed I get somewhere

I'm worried I won't receive any payment off them now

amersall

fight_the_power wrote: »

Good Morning all sent two emails to the ceo of mbna asking if and when my cheque is sent out to me would i be notified when it was being sent out as my postal area is notorious for mail going missing and then asked would it be sent special delivery/recorded mail ,got a reply saying that my cheque had been sent out on the 26th of july surely if it had i would have at least recieved it today !!! or do you think they were just fobbing me off again :mad:

Hopefully you will have this monday, if not,then tell them you are going to FOS.
This is out of order.

amersall

boycey01 wrote: »

Well I received a letter today regarding my Halifax Credit Card PPI. They have upheld it but here's their calculations (you don't need to be a rocket scientist to see this is wrong!)

Refund of premiums = £752.38
Refund of interest = £135.97
Interest at 8% = £ 5.12
Total =£593.47

Now that is £300 short! And to top it all off they added at the end of my letter "Please note that as your credit card account has a default notice all of the payment is to be used to reduce the outstanding debt and therefore no cash payment will be made." :mad:

I am so angry as I have paid the credit card off, I don't have any outstanding debt. I made my last payment in June this year.

Just phoned the number on the letter but only open mon to fri! So found another number I had from before. Spoke to a really nice lady I told her everything and she said it's obvious they haven't calculated that properly! She's made a note of when I paid my credit card off and she will get the redress team to ring me Monday afternoon after I finish work :mad: Fingers crossed I get somewhere

I'm worried I won't receive any payment off them now

Sorry to hear this,if the card is paid off the whole refund should come to you,dont let this drop.

boycey01

amersall wrote: »

Sorry to hear this,if the card is paid off the whole refund should come to you,dont let this drop.

I really do hope the refund comes to me but i've got a feeling i'm going to have trouble with this one! No i'm not going to let it drop that is so unfair what they are doing. If I did still owe money on the credit card then I would be more than happy to let them take my redress off the debt, but I don't owe them a penny

Also amersall do you know how they work out the 8% interest because I took the card out in 2001 and used it up until 2005. They have said the 8% interest is calculated up until 17th August 2011 but surely it would work out more than £5.12??

Thanks in advance

amersall

boycey01 wrote: »

I really do hope the refund comes to me but i've got a feeling i'm going to have trouble with this one! No i'm not going to let it drop that is so unfair what they are doing. If I did still owe money on the credit card then I would be more than happy to let them take my redress off the debt, but I don't owe them a penny

Also amersall do you know how they work out the 8% interest because I took the card out in 2001 and used it up until 2005. They have said the 8% interest is calculated up until 17th August 2011 but surely it would work out more than £5.12??

Thanks in advance

I have been laughed of the forum with the 8% :rotfl::rotfl::rotfl:
All i know is you get 8% on the actual ppi payments that you made,i could be wrong :D

smitchy73

amersall wrote: »

I have been laughed of the forum with the 8% :rotfl::rotfl::rotfl:
All i know is you get 8% on the actual ppi payments that you made,i could be wrong :D

Don't you get your ppi payment, plus the interest charged on that payment, and this gets done all along the history of ppi payments, and if those amendments takes your account/CC into credit this is where the 8% simple interest comes from, the whole idea is to put you back to the position you would've been in if there had been no ppi on the card, and the only time they owed you money is if by adding on the ppi and contractual interest puts you into credit.

I think this is it:D

amersall

smitchy73 wrote: »

Don't you get your ppi payment, plus the interest charged on that payment, and this gets done all along the history of ppi payments, and if those amendments takes your account/CC into credit this is where the 8% simple interest comes from, the whole idea is to put you back to the position you would've been in if there had been no ppi on the card, and the only time they owed you money is if by adding on the ppi and contractual interest puts you into credit.

I think this is it:D

Yes you are right, :D
I have said i am not the best placed poster :Dwhere the 8% is concerned x.