PPI Reclaiming successes and failures

amersall

:j:jCongrats Boycey01 :beer::beer:
Good luck with Barclays,you wont have to wait too much longer for this.

ms_night_ryder

amersall wrote: »

I take it you mean you could NOT get the loan without ppi?. :rotfl::rotfl::rotfl:
Is the ppi to cover for a few years,but the loan is still running when the ppi runs out?.
Front loaded means that the ppi is in effect another loan and goes on top of your loan with interest for the whole loan term,i assume they give you payments back every so often as a bonus? if they do then this is a rebate of sorts for the ppi you took,but the ppi is still on your loan and after a certain period the cover runs out,but the ppi is still on the loan to term with interest and you have no cover!!.

Hi amersall :rotfl:cant believe i did that! hope i didnt write that on the form! lol.

The loan was only for 2 years, no i did not know it was like a mini loan, cant remember how much ppi was, it was either 300 odd a year, or that amount for the 2 years, im a bit unsure, had no payments back throughout except like 6 months after i paid the loan, they sent me a cheque for 75 pounds, saying that they had over calculated, if that counts

Egg_Chaser_12

IANC wrote: »

The interest charged would be on £1,000 this month.

If you pay the minimum payment, it is unlikely that very much would come of the balance, so the interest the following month would be based on £1,030, ie you would be paying the interest rate of the card on the balance + last month's PPI.

The following month's PPI would be 3% of the balance, so if you hadn't spent anything on the card, the PPI would be £30.90 that month.

And so on.

If that makes sense.

amersall wrote: »

We need the math wizards here to see if any interest has been charged for any card monthly payment on the ppi or just the balance,if interest is charged on the ppi,then this should not be happening i would have thought.

Would be interested to see if this is actually being done,as ppi is not an amount you "borrow" but an insurance,and if interest is being charged on this ppi then i would say that it is mis sold.

Not sure you are right,

Balance £1000.00
PPI £ 30.00
Total new Balance £1030.00

Minimum Payment with would normally be interest on £1000.00 without PPI, however with PPI I am paying an over inflated minimum payment to include not only the interest but also the PPI including interest.

I hope this makes sense.
MAybe this will help
I think I should be paying interest on £1000.00 and this would be my minimum payment + PPI (without interest) then the PPI would be paid monthly without interest.

That all said still don't think I really understood what it meant at the time as it wasn't made clear how much i'd be paying and for how long.

NIGHTMARE!!!
and Breath!!!!!

amersall

Hi amersall :rotfl:cant believe i did that! hope i didnt write that on the form! lol.

I hope you didnt either :rotfl:
The reason they sent you a cheque was for the money they owed you after settlement.
Just put the reasons why you were mis sold ,i assume there is a space for that?.
Fingers crossed.

thegaffer

Good Afternoon all,
I'm after some advice / Thoughts

I have got me original Credit application form from Lloyd's (Opened CC in 1999 and still active now)

On my application from some of the data like my address is computer Generated as i have my bank account with them, but other bits such as phone number have been added by me.

Under section 4 - optional Features there is the following statement:

Asset Payment Protection
If you would like the additional peace of mind of knowing you can continue to meet you minimum credit card payments even if you cant work due to accident, sickness or unemployment please tick here.

(Now in the box where im supposed to tick it has YES (but this has been typed in on a computer in capital letters.

Now im assuming Asset payment protection is another word for PPI ?
And the fact ive not ticked (even though that's what the paragraph states , Is this classic miss selling of insurance ?

Or not ? i just think its strange that i've not ticked the section, but have signed the form at the bottom to apply for the Credit Card ?

Has anyone else got a similar form ? and got anywhere ?

Any thoughts would be great

Thanks

amersall

Hi there,yes this is ppi,some ppi boxes were already ticked so you go for it,if you have reasons for mis sell

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

di3004

Rae115 wrote: »

Hey

Well i received nada, zilch, nothing, not a thing. So i emailed and received an email back. Shes on holiday till the 24 aug. So happy birthday to me. She better have some good news for me when shes back.

Is today you're birthday then Rae?:eek: oops sorry I've not wished you an happy birthday, but a Happy Birthday to you anyway honey XXXXX:beer::beer:

di3004

ms_night_ryder wrote: »

hi di

Thanks for replying, what does front loaded mean, yes there was space for this, so i wrote, that i was told i could get the loan without taking out ppi

Hi

Front loaded is where the PPI is thrown directly onto the loan as one monthly repayment, so you will be paying for the ppi for the life of the loan, yet the ppi may not protect you for the life term of the loan.;)

di3004

boycey01 wrote: »

Afternoon all,

Here's another update on my complaints......

• Received an email from Black Horse on 26th July saying I would receive a summary of my settlement and a cheque for the rest due to me (after they had paid off my loan) within a week. Still hadn't received anything over a week later so emailed again and they replied saying that a letter and cheque got sent on 25th July!! Yeah right! So they would resend the letter and cancel the cheque and re-issue a new one. Finally received a letter yesterday to say that my loan is paid off and I will receive a cheque for £61.31 in the next few days.

• I spoke to Halifax Customer Services last Monday regarding my credit card settlement. They said that they had made an error and I would be getting £893.47. I questioned why the 8% interest was low and the lady explained that was because they go back through my statements and take the PPI off each monthly balance, if I would be in credit after thats taken off then I get 8% interest, so if not in credit then I don't get it. Something along them lines!! Anyway they have re-looked at my credit card account and seen that it is now clear so they will be sending me a cheque. They said within 5 working days so I should receive it tomorrow

• I sent my acceptance form back to Capital One so I should receive a cheque from them within a couple of weeks.

• Just barclaycard left to go. They said I should have a response by 19th September. I did email the CEO about 10 days ago, not so much about my PPI complaint but about letters keep being addressed to me in my middle name. I keep telling them it's not my name but do they listen. I also mentioned in the email about Barclaycard taking 4 months to send me a copy of my credit agreement and their Customer Services lying to me when the lady told me I didn't have PPI! Guess what he never responded to my email. So I resent it Weds and I got an automated reply basically saying he was on holiday! How ironic though, I don't get a reply when he is there and when he's not there I do get a reply!!

CONGRATULATIONS TO ALL THE SUCCESSES LATELY, GOD THERE HAVE BEEN A LOT!! :beer::j
AND GOOD LUCK TO YOU ALL STILL WAITING, HOPEFULLY YOU WON'T BE WAITING MUCH LONGER

Absolutely fab!!:T:j Congratulations honey and so well deserved indeedly!:beer::beer: xx

thegaffer

Does anyone have the lloyds CEO email ? and if so do they ever do anything like say the guy at MBNA ?