PPI Reclaiming successes and failures

Derwent

Got an offer through from HSBC regarding my credit card PPI. However, I have rejected it as they are not offering contractual interest. Even the 8% interest is simply calculated as 8% of the total premiums and hasn't been compounded. I wrote to them outlining my reasons for rejection (i.e. that if they charged me 29.9% APR on the premiums then they are not providing full redress if they don't reciprocate) and have received a response that they are looking at my claim again and will let me know the outcome by the end of this week.

Dizzywithmoney

I am sooooo pleased!!! Just received a letter from EGG - they are upholding my complaint (credit card). They wrote to me back in July stating that I would hear by 31st August but I have received the letter today. It states that they will pay off the balance of my account and I will received a cheque within the next 7-10 days for the balance. They have worked it out as this

CRP premius paid £2666.98
Refund of interest on premiums paid at card rate £2429.61
Interest at the rate of 8% £ 796.37
Refund of overlimit charge3 £ 20.00
Total refund due £5912.96

I will be getting back over half of this!!!


Thank you, thank you to you all for your help.

Now just waiting on all the rest!!

di3004

Dizzywithmoney wrote: »

I am sooooo pleased!!! Just received a letter from EGG - they are upholding my complaint (credit card). They wrote to me back in July stating that I would hear by 31st August but I have received the letter today. It states that they will pay off the balance of my account and I will received a cheque within the next 7-10 days for the balance. They have worked it out as this

CRP premius paid £2666.98
Refund of interest on premiums paid at card rate £2429.61
Interest at the rate of 8% £ 796.37
Refund of overlimit charge3 £ 20.00
Total refund due £5912.96

I will be getting back over half of this!!!


Thank you, thank you to you all for your help.

Now just waiting on all the rest!!

Wow that is wonderful news, well done!:T:j & Congratulations:beer:
Absolutely fab!:T:A

di3004

Derwent wrote: »

Got an offer through from HSBC regarding my credit card PPI. However, I have rejected it as they are not offering contractual interest. Even the 8% interest is simply calculated as 8% of the total premiums and hasn't been compounded. I wrote to them outlining my reasons for rejection (i.e. that if they charged me 29.9% APR on the premiums then they are not providing full redress if they don't reciprocate) and have received a response that they are looking at my claim again and will let me know the outcome by the end of this week.

Hiya

And the very best of luck on this, fingers crossed.;)

The_Marksman

Dizzywithmoney wrote: »

I am sooooo pleased!!! Just received a letter from EGG - they are upholding my complaint (credit card). They wrote to me back in July stating that I would hear by 31st August but I have received the letter today. It states that they will pay off the balance of my account and I will received a cheque within the next 7-10 days for the balance. They have worked it out as this

CRP premius paid £2666.98
Refund of interest on premiums paid at card rate £2429.61
Interest at the rate of 8% £ 796.37
Refund of overlimit charge3 £ 20.00
Total refund due £5912.96

I will be getting back over half of this!!!


Thank you, thank you to you all for your help.

Now just waiting on all the rest!!

:rotfl::j:beer: WELL DONE :beer::j:rotfl:

&

BEST OF LUCK WITH THE REST

Riggsy1367

Dizzywithmoney wrote: »

I am sooooo pleased!!! Just received a letter from EGG - they are upholding my complaint (credit card). They wrote to me back in July stating that I would hear by 31st August but I have received the letter today. It states that they will pay off the balance of my account and I will received a cheque within the next 7-10 days for the balance. They have worked it out as this

CRP premius paid £2666.98
Refund of interest on premiums paid at card rate £2429.61
Interest at the rate of 8% £ 796.37
Refund of overlimit charge3 £ 20.00
Total refund due £5912.96

I will be getting back over half of this!!!


Thank you, thank you to you all for your help.

Now just waiting on all the rest!!

:T:TCongratulations! Now, spend it wisely and buy me something!;)

Derwent

di3004 wrote: »

Hiya

And the very best of luck on this, fingers crossed.;)

The way I see it, the judgement was to provide full redress to customers and put them back in a situation as if PPI had never existed. They have had 29.9% APR in interest since 2003 on all of my premiums (it makes a difference of £7,200 to the claim !). If they don't refund that then they are not complying with the aim of the judgement and have been unjustly enriched by keeping the interest as they would never have got that interest if missold PPI wasn't on the account in the first place.

They told me that thousands of people had accepted their offers so far and seemed a bit shocked that I turned it down !

sympatex

I dont think i posted in this one before as i hadn't had success or failure with my MasterCard PPI claim. It got referred to the full 16 weeks and last week received an offer of £400 which £150 of it was interest.

So i'm pleased with that, my claim was never going to get the amounts that those who kept balances on their cards or had loans. So it turns out PPI for the last 10years for me became a 'regular saving account' with 8% interest

The_Marksman

sympatex wrote: »

I dont think i posted in this one before as i hadn't had success or failure with my MasterCard PPI claim. It got referred to the full 16 weeks and last week received an offer of £400 which £150 of it was interest.

So i'm pleased with that, my claim was never going to get the amounts that those who kept balances on their cards or had loans. So it turns out PPI for the last 10years for me became a 'regular saving account' with 8% interest

:rotfl::j:beer: WELL DONE :beer::j:rotfl:

tifosi

lostcount wrote: »

HI all

I put in a claim for my MBNA card and sent them all the details on the 2nd June. They replied by e-mail to let me know they will give me a reply by the 29th July. (I guess this is the 8 weeks). 29th has come and gone with no reply, so I called them on monday, A very nice lady chased around the departments and told me that a letter was sent on the 29th july telling me they will now reply to me in another 21 days.
Does MBNA have the extension now if not shall I put some pressure on them or wait the 21 days?

MBNA are most definitely NOT covered by the timeline extension -

:mad:

This only covers Barclays/RBS/HSBC and Lloyds (plus their associated companies such as NatWest, HFC, etc)

Get on to them, give them hell and ask why they are not meeting the required 8 week timeline

If you want ammo, search this thread - there are plenty of people being settled by MBNA well inside the 8 week line

:cool: