PPI Reclaiming successes and failures

smudger69

smudger69 wrote: »

Hi, MBNA have just upheld my PPI complaint:j:j, how can I work out how much I can hope to receive? CC was at £12000, had this for 6 year. The card rate was 16.9%:D:D:D:D:D

Cheer for any help in this matter....

:money::money::money::money::p:p:D

iluvshopping

Hi- am new to posting but have been spurred on by reading everyone's posts; here goes-

5 years I took out a Halifax loan for £20k with PPI- I applied for this over the telephone & agreed to take PPI as it was unsecured.On hindsight I now realise that PPI was not compulsory - the sales advisor was very pushy and I agreed cos I didn't know any better. If off work ill my employer at the time and still now would pay me 6mths full and 6mths 1/2 salary if on sick leave. Loan duration was 62 mths (2 mth holiday at start) with the 60th month payment being paid off in at the end of May 2011. £480.06 per mth (I don't know how much per mth PPI was- doh!) I did not cancel PPI at any time. As my loan is now paid off I figured nothing to lose-

I lodged a complaint with Halifax by letter & received acknowledgment 9/6/11 and a 2nd letter 23/6/11 saying they will revert to me within 16weeks. Does anyone rate my chances of a refund of PPI & if so how much? Any help would be much appreciated. I've read posts about front loaded ppi but I haven't a clue!!!!

amount of credit £20,000.00
amount of credit (the insurance loan) £4217.82
total amount of credit (the total loan) £24,127.82
Duration of agreement 62 mths
total amount for cash loan £23,875.80
total amount for loan insurance £4927.80
total amount for loan £28,803.60

Many thanks again for any feedback and help x

di3004

iluvshopping wrote: »

Hi- am new to posting but have been spurred on by reading everyone's posts; here goes-

5 years I took out a Halifax loan for £20k with PPI- I applied for this over the telephone & agreed to take PPI as it was unsecured.On hindsight I now realise that PPI was not compulsory - the sales advisor was very pushy and I agreed cos I didn't know any better. If off work ill my employer at the time and still now would pay me 6mths full and 6mths 1/2 salary if on sick leave. Loan duration was 62 mths (2 mth holiday at start) with the 60th month payment being paid off in at the end of May 2011. £480.06 per mth (I don't know how much per mth PPI was- doh!) I did not cancel PPI at any time. As my loan is now paid off I figured nothing to lose-

I lodged a complaint with Halifax by letter & received acknowledgment 9/6/11 and a 2nd letter 23/6/11 saying they will revert to me within 16weeks. Does anyone rate my chances of a refund of PPI & if so how much? Any help would be much appreciated. I've read posts about front loaded ppi but I haven't a clue!!!!

amount of credit £20,000.00
amount of credit (the insurance loan) £4217.82
total amount of credit (the total loan) £24,127.82
Duration of agreement 62 mths
total amount for cash loan £23,875.80
total amount for loan insurance £4927.80
total amount for loan £28,803.60

Many thanks again for any feedback and help x

Hi and welcome

I'm sure Niggly will take a look at the figures for you at some point soon.

Wishing you luck on the reclaiming and you have good reasons for making a reclaim, fingers crossed.;)

mumofjanda

Hi!

Rang Nationwide today re: loan PPI as the 8 weeks time limit they had was up and I had not received a reply. Lady I spoke to told me that a letter was on it's way to me but the complaint has not been upheld.:( She said the letter will explain why and to ring back after reading it if I wanted a fuller explanation. So disappointed.

We have got paperwork to say the PPI was optional but the loan was applied for on the phone and as far as I can remember we were only given the repayment figure which included the PPI figure. I know at the time we really needed the loan and basically accepted the repayment figure in order to get the loan and didn't question the cost of the PPI. Didn't need the PPI because we had other cover.The loan acceptance which we had to sign does say the PPI is optional and if we don't want it return it and basically start again (no box to tick to opt out). At the time I think we just thought if we don't accept we might not get the loan if we had to start again....IYKWIM.
I know you probably can't give me any advice until I get the letter giving the full reasons why they havn't upheld but need to know whether you think there's any point ringing them tomorrow when I get the letter or whether the fact the paperwork says it's optional means that's it.

Anyone had their Nationwide loan upheld?

Was so hoping this would be upheld. Thanks for any advice!

Niggly_2

iluvshopping wrote: »

Hi- am new to posting but have been spurred on by reading everyone's posts; here goes-

5 years I took out a Halifax loan for £20k with PPI- I applied for this over the telephone & agreed to take PPI as it was unsecured.On hindsight I now realise that PPI was not compulsory - the sales advisor was very pushy and I agreed cos I didn't know any better. If off work ill my employer at the time and still now would pay me 6mths full and 6mths 1/2 salary if on sick leave. Loan duration was 62 mths (2 mth holiday at start) with the 60th month payment being paid off in at the end of May 2011. £480.06 per mth (I don't know how much per mth PPI was- doh!) I did not cancel PPI at any time. As my loan is now paid off I figured nothing to lose-

I lodged a complaint with Halifax by letter & received acknowledgment 9/6/11 and a 2nd letter 23/6/11 saying they will revert to me within 16weeks. Does anyone rate my chances of a refund of PPI & if so how much? Any help would be much appreciated. I've read posts about front loaded ppi but I haven't a clue!!!!

amount of credit £20,000.00
amount of credit (the insurance loan) £4217.82
total amount of credit (the total loan) £24,127.82
Duration of agreement 62 mths
total amount for cash loan £23,875.80
total amount for loan insurance £4927.80
total amount for loan £28,803.60

Many thanks again for any feedback and help x

Approximation
ppi loan £4217.82/ total loan £24127.82 = 17.48%
£480.06 per mth x 17.48% = £83.91 PPI premium

Redress Calculation
overpayments of PPI interest is £83.91 x 60 = £5034.6
Interest on ppi 8% simple on 62 payments £1109.29

Total gross £6143.89 20% tax on interest is £221.86

Probably a small amount due on the 2 months premium holiday interest is still charged but rolled up into the 60 monthly payments approx £50 gross

Niggly_2

mumofjanda wrote: »

Hi!

Rang Nationwide today re: loan PPI as the 8 weeks time limit they had was up and I had not received a reply. Lady I spoke to told me that a letter was on it's way to me but the complaint has not been upheld.:( She said the letter will explain why and to ring back after reading it if I wanted a fuller explanation. So disappointed.

We have got paperwork to say the PPI was optional but the loan was applied for on the phone and as far as I can remember we were only given the repayment figure which included the PPI figure. I know at the time we really needed the loan and basically accepted the repayment figure in order to get the loan and didn't question the cost of the PPI. Didn't need the PPI because we had other cover.The loan acceptance which we had to sign does say the PPI is optional and if we don't want it return it and basically start again (no box to tick to opt out). At the time I think we just thought if we don't accept we might not get the loan if we had to start again....IYKWIM.
I know you probably can't give me any advice until I get the letter giving the full reasons why they havn't upheld but need to know whether you think there's any point ringing them tomorrow when I get the letter or whether the fact the paperwork says it's optional means that's it.

Anyone had their Nationwide loan upheld?

Was so hoping this would be upheld. Thanks for any advice!

Wait to see reasons and if FOS offered. Then its a case of going to them. Until full reasons are given dont worry its just another barrier to get over. The more I read the small print of the FOS handbook the more facts I am discovering and thus the more reasons why ppi is mis-sold. I am sure we can put together a reasonable responce to FOS and/or back to Nationwide to say are you sure you want to go there.

N

iluvshopping

Many thanks for your prompt reply- I recall having to call into a Halifax branch to sign for the loan but they approved me over the phone. They'll prob turn me down for mis-selling but I live in hope and am counting the weeks until the 16 week deadline. Am also trying to pay off my credit card once and for all and can finally see light at the end of a long tunnel. I never took PPI on any past credit cards thankfully. Cheers- fingers crossed I can post with some good news !

Niggly_2

Niggly wrote: »

Wait to see reasons and if FOS offered. Then its a case of going to them. Until full reasons are given dont worry its just another barrier to get over. The more I read the small print of the FOS handbook the more facts I am discovering and thus the more reasons why ppi is mis-sold. I am sure we can put together a reasonable responce to FOS and/or back to Nationwide to say are you sure you want to go there.

N

A little taster from the handbook telling firms what they must consider here are 2 that might perk you up.

[FONT=&quot]2.3.6 G The [/FONT][FONT=&quot]firm [/FONT][FONT=&quot]should not reject a complainant’s account of events solely on the basis that the complainant signed relevant documentation regulating the purchase of the [/FONT][FONT=&quot]policy[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]2.3.7 G The [/FONT][FONT=&quot]firm [/FONT][FONT=&quot]should not reject a [/FONT][FONT=&quot]complaint [/FONT][FONT=&quot]because the complainant failed to exercise the right to cancel.[/FONT]

[FONT=&quot][/FONT]
[FONT=&quot]As that pillock on TV says FIGHT!!! (ooh I just looked up what pillock means seems to describe Nationwide fairly aptly.[/FONT]

[FONT=&quot][/FONT]
[FONT=&quot]N[/FONT]

N

smudger69

I was wondering if anyone can work out what PPI I will get back as MBNA has upheld my claim. The CC limit was £12000, CC rate was 16.9%. The card is paid off and the ppi was stopped after 6 years. Any calculations would be greatly appreciated.

mumofjanda

Smamfer wrote: »

when i email santander using the [EMAIL="letsworkitout@alliance-leicester.co.uk"]letsworkitout@alliance-leicester.co.uk[/EMAIL] all i keep getting is an auto response email from santander saying..

Hello

Thanks for your e-mail.

This is a receipt to let you know we've received your message, and we'll reply as soon as we can.

We want to make certain that your information is kept as safe as possible so we do ask that you don't supply any of your account details on an e-mail. If you do need to ask us about your accounts, please give us a call. To find the most appropriate telephone number, please visit our website:

www.santander.co.uk

From the homepage:

· Click on ‘Contact Us’ in the top right-hand corner
· Click on the relevant product type on the left-hand side


Please note - A NUMBER OF FRAUDULENT E-MAILS ALLEGING TO BE FROM SANTANDER ARE CURRENTLY IN CIRCULATION.

The e-mail encourages users to click on a link.

Please do not click on the link and do not enter any confidential information.

Santander will never send you an e-mail asking you to click on a link, or to enter, reconfirm or change your security or card details. We will never ask you to tell us your passwords by e-mail or over the phone.

If you think you may have revealed your security details in any way, please call us immediately on 0845 600 4388. We're available 7am to 11pm Monday to Saturday, and 9am to 9pm on Sunday.

You can also help Santander by forwarding any Phishing email you receive to:

[EMAIL="phishing@santander.co.uk"]phishing@santander.co.uk[/EMAIL]

We can’t respond directly to any questions via this e-mail address, but all e-mails are processed, and urgent action is taken against Phishing sites identified.

Regards
Santander Customer Services

To help us improve our service we may record or monitor phone calls.

Am i right to wait for them to get back to me using the email address i am using for them or you think it would be better for me to go thru the Santander website even tho it was initially for an Alliance & Leicester loan?

thanks in advance

Hi!

We had an A&L loan and the only details I had were the account number and monthly repayments. I rang Santander PPI complaints to find out if I had paid PPI and the lady I spoke to took my details. Two days later I had a letter saying my complaint had been upheld!

Rather than e-mail you could give them a ring on 0871 522 5167 (Complaints Resolution Team). I have spoken to 2 people on this team and have to say they couldn't have been nicer or more helpful.

Worth a try maybe! Good Luck!!