PPI Reclaiming successes and failures

Fossildog

marshallka wrote: »

Fossildog, Have you had any actual figures for this refund?? I would just ask them for the breakdown or their calculations and also just put that you assume you will be getting the 8% statutory interest as you were deprived of the monies...

There most certainly would have been interest on the PPI and if you paid this to the full term then you would be entitled to the full amount of the PPI and the INTEREST too. If you settled early they look at the settlement as if you never had the PPI and the settlement you actually paid at the time and take one from the other.

I didnt really get a breakdown. The letter just says amount of PPI was £5950, rebate when loan was paid off was £281 (although I know for a fact I never got any rebate!!) so we will refund you £5670. Then it says 'please sign the form and we will pay the refund, this will be a full and final settlement'.

The funny thing is the day I got the letter (THU) saying my claim was accepted I called the loan people and they checked my account and said they would await the brokers contact and let them know how much I had paid both in PPI and in interest. Then the next day (FRI) I got the letter from the broker telling me that the refund was £5670. Either both companies move remarkably fast or the broker has just plucked a figure out of the air. What I am going to do is on monday call the loan people and ask if the broker has contacted them and also find out how much the PPI + interest was then add 8% (per annum) and send the second letter saying I will accept this much otheriwise I will take the case to the FOS. Does that sound sensible?

scotlad1980

pinknico wrote: »

No I don't think it means it wont be successful , I had the same response from the Bank of Scotland and they will get back to me by the 14th January.
Either they are very busy or have no immediate record of the selling of your PPI. Is the date still within the 8 week timescale?

Yes still within the 8 weeks, well i will just hang fire and wait, as you said they are probably busy or can't find the loan agreement to check the PPI.

marshallka

Fossildog wrote: »

I didnt really get a breakdown. The letter just says amount of PPI was £5950, rebate when loan was paid off was £281 (although I know for a fact I never got any rebate!!) so we will refund you £5670. Then it says 'please sign the form and we will pay the refund, this will be a full and final settlement'.

The funny thing is the day I got the letter (THU) saying my claim was accepted I called the loan people and they checked my account and said they would await the brokers contact and let them know how much I had paid both in PPI and in interest. Then the next day (FRI) I got the letter from the broker telling me that the refund was £5670. Either both companies move remarkably fast or the broker has just plucked a figure out of the air. What I am going to do is on monday call the loan people and ask if the broker has contacted them and also find out how much the PPI + interest was then add 8% (per annum) and send the second letter saying I will accept this much otheriwise I will take the case to the FOS. Does that sound sensible?

If you have the agreement we can try and work out how much this was in all...:D

Fossildog

marshallka wrote: »

If you have the agreement we can try and work out how much this was in all...:D

I have no agreement but have requested a copy of everything they hold on me. Is it unusual to be offered just the PPI and no interest or stat 8%? I get the impression they are trying it on

Jillica

Hi
My daughter has a loan with Blackhorse. I think it was initially for 2000 but i think its got about 686 ppi added on at the begining of the loan. She sent for a statement and was shocked to see she as been paying it for two years at 95 per month and the loan as reduced by only £220. There as been exactly 200 added on for late payments over the two years.
She rang and asked for the ppi to be cancelled but was told as it as already been added onto the loan, she cannot do that! Is this correct?
Any advice would be grateful!
Thanks
Jillica x

di3004

Jillica wrote: »

Hi
My daughter has a loan with Blackhorse. I think it was initially for 2000 but i think its got about 686 ppi added on at the begining of the loan. She sent for a statement and was shocked to see she as been paying it for two years at 95 per month and the loan as reduced by only £220. There as been exactly 200 added on for late payments over the two years.
She rang and asked for the ppi to be cancelled but was told as it as already been added onto the loan, she cannot do that! Is this correct?
Any advice would be grateful!
Thanks
Jillica x

Hi Jillica

When your daughter had this loan, was she aware it was optional?


I assumed you could still cancel but the repayments may not change or a new loan would have to be taken without the PPI, yet if a new loan was prepared when calculating the first one then they would still include the PPI in the calculations as well as it was added to the loan.

So they did not explain this at the start of the loan then?

May I ask when this was taken out? thanks.;)

Jillica

Hi
Thanks for your quick reply.
It was taken out with her ex who as declared himself bankrupt so the debt is now soley hers.
It was taken out in July 06!
She cannot remember anything about it to be honest!
Shes blonde, thats all im saying lol
Cheers
Jillica x

marshallka

Fossildog wrote: »

I have no agreement but have requested a copy of everything they hold on me. Is it unusual to be offered just the PPI and no interest or stat 8%? I get the impression they are trying it on

If you really want this to be correct as this is of full and final then I would ask them for a copy of the agreement under section 77/78 of the CCA and this would have to be provided in 12 days. Send the letter recorded delivery and on the agreement it will tell you how much the PPI was and also the interest.

di3004

Jillica wrote: »

Hi
Thanks for your quick reply.
It was taken out with her ex who as declared himself bankrupt so the debt is now soley hers.
It was taken out in July 06!
She cannot remember anything about it to be honest!
Shes blonde, thats all im saying lol
Cheers
Jillica x

lol, hiya hun also thanks for getting back so quickly as well.;)

Maybe a SAR would be worthwhile then, this is known as a Subject access request where all the information from the past 6 years they should supply, there is a £10 charge for this in either a cheque or postal order payment and they have 40 days to comply as from the letter.

Post by recorded post for evidence of posting and to keep a check on the 40 days timescale they must comply to.

Here below is the template where as I said they will supply the info which maybe useful for this matter. We can then move on from there: Good luck and feel free to ask anything else, there is also an actual PPI reclaim thread next to this thread.:D

SAR - SUBJECT ACCESS REQUEST

Dear

Re: Account number:

In the first part under the Data Protection Act 1998:

Under the Data Protection Act 1984 and 1998, and including the right of subject access under these acts, please supply me with a complete list of transactions and charges relating to the above accounts held with you since they were opened.

Additionally where there has been any event in my account history over this period which has required manual intervention by any member of your staff or any other person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention or other evidence of that manual intervention in relation to my business with you.

If you are unable to supply data relating to manual intervention because there has been no such manual intervention then please be kind as to confirm this in your response to this request.


For the avoidance of any and all doubt, I reiterate:

I hereby request that you supply me with any and all historical data in your possession which, in any way appertains to me, including (but not exhaustively) a copy of the original signed executed agreement; statements of account; duplicate statements and/or print outs of all account transactions; all internal and external correspondence sent or received by you including memo’s, logs, notes, screen prints and transcripts; notes of manual interventions such as telephone attendants' notes, copies of stored telephone conversations, internal and external emails; any other information held on any/all types of media in any relevant filing system (microfiche included).

If you have disclosed any information to a third party (with or without my express permission), will you please include details of this in your reply, along with notes of any legal action passed or pending (to include a true copy of default notices, court orders and the like).

Where any information that you provide includes any charges, for example returned payments, late payment fees, and so forth, would you please advise your breakdown of actual costs (liquidated damages) incurred for each charge, and the Term or Condition on which you rely upon to claim such a charge.





I also require that you forward, within the above mentioned time scale, a true copy of the Terms and Conditions that were in force at the time my account was opened, and any subsequent amendments to those Terms and Conditions.

I enclose the statutory maximum fee of £10.00 to access ALL data held by XXXXX about myself. You should be fully aware of your statutory obligations under the Data Protection Act and that any failure to comply with this request will involve a complaint to the ICO as well as potential legal action.

You have 40 days in which to comply with this request.

This communication has been sent Recorded Delivery so I can ensure compliance on these issues within the legislative timeframes.

Yours Sincerely

Jillica

Hi
Thanks, I will ge her to do it asap.
When I rang them on heer behalf, they did say her other half had supplied a wage slip tp prove his form of income, but he was self employed at the time. I asked him the date on the wage slip as this wasnt possible and he said 'sorry but I cannot read it'.
Probably never had one in my opinion!
Cheers
Jillica x