PPI Reclaiming successes and failures

petermb_2

Fossildog wrote: »

Just has a letter to say my claim has been upheld (after one letter and 6 weeks!) Very happy obviously. They have said in the letter that to avoid any lengthy process they will be refunding me the amount of the PPI back. I phoned the person who gave the loan (I used a broker to buy the loan and PPI) and they said the PPI amount was £5950. They also said I had not paid any interest on this. It was a single premium policy. Does this sound right, that the PPI was effectively an interest free loan? Also, do they have to refund 8% stat interest as well as the letter indicates they will pay back only the PPI amount minus any rebate (which was zero).

did you hear the guy's nose growing as he was speaking to you?
Of course they charged you interest.
Amazing what these people are getting away with or tryiung to.

Fossildog

petermb wrote: »

did you hear the guy's nose growing as he was speaking to you?
Of course they charged you interest.
Amazing what these people are getting away with or tryiung to.

Ha just called again and got someone who knew what they were talking about and they have agreed that interest was charged and this will be part of the refund figure. So that leaves the 8% stat interest. Is this added automatically to any claim or is for the company to choose to add it or not (and assume if I go to the FOS it will take longer but I would get the 8% interest as they have already admitted liability)?

deborah46

Fossildog wrote: »

Ha just called again and got someone who knew what they were talking about and they have agreed that interest was charged and this will be part of the refund figure. So that leaves the 8% stat interest. Is this added automatically to any claim or is for the company to choose to add it or not (and assume if I go to the FOS it will take longer but I would get the 8% interest as they have already admitted liability)?

You should receive a breakdown of their calculations. Who was the loan with???? I am waiting for Tesco Personal Finance which is owned by RBS but i think they are going to drag it to the 8 weeks for a decision.
Merry Christmas

queencarrot_2

Had a letter through 3 weeks later from Halifax stating that I will get a total of £1,402.91 including interest on the PPI and 8% stat interest on a £10k loan that was transferred 3 years ago.
This is fantastic news as I (attempted) to close the account 3 years ago after they disclosed my Gran's bank account details to me.
I'm still waiting for a letter back about the disclosure of personal details and still trying to close the bank account in question down.

bailey2008

hi to everyone,

im new on here,and what a great site with great caring people,

this is my story about a year ago i put in a complaint for misold ppi against the london mortgage company,and i did it through 1 of those companies who do it for u,i know before u all start what a mistake,,i really didnt have the time to do it myself,,and looking back theres not 2 much to it.

anyway for the last 2 months i started 2 wonder why i havent heard anything,so i started to chase the company i was using and 2 be honest they were useless,,so i started reading this site and decided to take matters into my own hands.

i firstly rang the finacial obusdman and got the ball rolling,and after several calls and emails chasing for the relevant documents i finally got a settlement today for nearly £8000 whoppi:j .

my point is i feel like ive done all the work and the company i used have really done nothing and i mean nothing,how would i go about not paying them or paying them less than the 25% charge plus vat,

again before u all jump down my throat ,i wished i had read this site a year ago and done it myself,,oh and there paying it to me through bacs so i have to settle the company i was using after i get payed,,

please anyone know anything i can do,

marshallka

bailey2008 wrote: »

hi to everyone,

im new on here,and what a great site with great caring people,

this is my story about a year ago i put in a complaint for misold ppi against the london mortgage company,and i did it through 1 of those companies who do it for u,i know before u all start what a mistake,,i really didnt have the time to do it myself,,and looking back theres not 2 much to it.

anyway for the last 2 months i started 2 wonder why i havent heard anything,so i started to chase the company i was using and 2 be honest they were useless,,so i started reading this site and decided to take matters into my own hands.

i firstly rang the finacial obusdman and got the ball rolling,and after several calls and emails chasing for the relevant documents i finally got a settlement today for nearly £8000 whoppi:j .

my point is i feel like ive done all the work and the company i used have really done nothing and i mean nothing,how would i go about not paying them or paying them less than the 25% charge plus vat,

again before u all jump down my throat ,i wished i had read this site a year ago and done it myself,,oh and there paying it to me through bacs so i have to settle the company i was using after i get payed,,

please anyone know anything i can do,

Did you sign any documents with the company and also were they registered with the Ministry of Justice??

If they were you could always dispute the payment and just like your complaint with the Ombudsman you can make one about the company that were to get back your PPI.

http://www.claimsregulation.gov.uk/consumers.aspx

bailey2008

hi there,
yes i signed the documents when i started the complaint,,they are aim 2 gain if u get me

bailey2008

bailey2008 wrote: »

hi there,
yes i signed the documents when i started the complaint,,they are aim 2 gain if u get me

dont know if i can put the proper name on here?

marshallka

bailey2008 wrote: »

hi there,
yes i signed the documents when i started the complaint,,they are aim 2 gain if u get me

Have they got a claims management number and if they have then you can make a complaint to their regulators the Ministry of Justice.

chelcon

Hi its been a while since I was last on here so forgive me if I have done this wrong .... what I want to know is anyone waiting a long time for info back from the FOS I sent my ppi paperwork etc and had my first letter back from them confirming receipt on 18th February yep February this year, how long does it take for crying out loud

Thanks