PPI Reclaiming successes and failures

IANC

julieprit2 wrote: »

So is mine, wish this was all sorted!! No idea how to add the 8% on, is that per day since the first day of loan or per year? Eek!

No, it is per payment during the loan (8% per year/12 x 36 for the 1st payment. 8%/12 x 35 for the second payment) and so on.

You will then have one big total of PPI, PPI interest and 8% interest.

This total then has 8% per annum added to it from the date that the loan was settled, until the date you get paid the compensation.

Just sit back and wait for a nice little chunk of money :rotfl:

IANC

stuartbowman7373 wrote: »

Hi,

I sent a few claims in for PPI's that I had.
One was sent to Santander Credit Card, and I had a reply within a week with an offer of £1200.
Yesterday I had a letter from Northern Rock with an offer of £12600, which I have accepted.

Still waiting to hear from Egg Credit Cards and Barclaycard Loans.

For anyone thinking about claming, do it. I took me about 10mins to fill the form in and the cost of a postage stamp. Then just a bit of patience while waiting for the letters to arrive.

Excellent and well done on the NR one :eek:

What were the details of that loan/credit card out of interest?

stuartbowman7373

Hi

The NR was a loan I had with them, it was a total of 4 loans I had with them, which I consolidated each time.
They gave me £9300 (around that amount) then the interest bumped it upto £12600.
Current loan was for £20,000, which will now be paid off with the money I get back from them and a bit left over for me ;-)

julieprit2

IANC wrote: »

No, it is per payment during the loan (8% per year/12 x 36 for the 1st payment. 8%/12 x 35 for the second payment) and so on.

You will then have one big total of PPI, PPI interest and 8% interest.

This total then has 8% per annum added to it from the date that the loan was settled, until the date you get paid the compensation.

Just sit back and wait for a nice little chunk of money :rotfl:

That would be nice although they are completely disputing it and FOS said due to being pre-2005 have to approach underwriters! Currently awaiting on Aviva getting back to me with another big fat no!

Thanks again for your help!

di3004

stuartbowman7373 wrote: »

Hi,

I sent a few claims in for PPI's that I had.
One was sent to Santander Credit Card, and I had a reply within a week with an offer of £1200.
Yesterday I had a letter from Northern Rock with an offer of £12600, which I have accepted.

Still waiting to hear from Egg Credit Cards and Barclaycard Loans.

For anyone thinking about claming, do it. I took me about 10mins to fill the form in and the cost of a postage stamp. Then just a bit of patience while waiting for the letters to arrive.

Fantastic work!:T:j Congratulations!:beer:

Good luck on the others x:T

di3004

julieprit2 wrote: »

Thanks Ian, I don't even know how to add the 19.9% interest :-/ Maths isn't my strong point lol

Hopefully Tifosi can help! :j

sorry maths isn't the subject for me either unfortunately , but yes I'm sure Tofosi will check it out for you x;):j

di3004

stuartbowman7373 wrote: »

Hi

The NR was a loan I had with them, it was a total of 4 loans I had with them, which I consolidated each time.
They gave me £9300 (around that amount) then the interest bumped it upto £12600.
Current loan was for £20,000, which will now be paid off with the money I get back from them and a bit left over for me ;-)

Amazing Stuart.:j:beer:

dwt_3

Thank you Martin and everyone on MSE site!
While sorting out the filing cabinet, I came across the documentation for a personal loan my wife had taken out with Alliance & Leicester in September 2001. The loan was arranged over the phone and she was quoted a monthly repayment including PPI. Studying the agreement I realised that she had effectively agreed to an additional loan to pay for the PPI up front and the repayments included interest on the PPI loan.
Even though the loan and repayments finished after 5 yrs (Sept 2006), and A&L have now been taken over by Santander, I thought it worth trying to get a refund having read some of the success stories on this site.
We completed the PPI questionaire from your reclaiming guide using the arguments that the PPI had been pushed on her over the phone, that we had not really needed it given our employment circumstances at the time, and that the total cost of the up front PPI payment had not been made clear in the initial phone call. We added a covering letter finishing with:
"If my complaint is upheld I require a refund of all premiums paid to the policy, plus any additional interest charged to me because of the PPI. I would also like to claim statutory compensation in view of the fact that I have been deprived of the use of this money.
Please now investigate my complaint within the eight weeks allowed to you."

The original documents showed she had been charged £1384 for the PPI loan plus £328 interest on this (total of £1712)
We posted these to Santander last Friday (using 2nd class post) hoping at best for a portion of the £1712 to be refunded after some period of investigation and maybe a few letters back and forth.
Imagine our amazement when we received a letter today, Thursday, offering £2733 in full and final settlement ... for the price of one 2nd class stamp!
Once again many thanks for the advice :T

Leyburn_Lad

Provider: MBNA
Amount Claimed: £3249.81
Amount Received: £7352.86

I first submitted my claim back in May after the publicity and downloaded the form from this site.
Received a reply 4 weeks later telling me that they were still investigating my claim and would issue a response in a further 28 days.
Received a further letter in late June, advising that they had a further 21 days to reply.
After several phone calls (be prepared to be on hold for a while) I was told that their final response letter had been sent on the 16th July, which I received 30th July.

Following a review of your complaint I have identified that MBNA aquired your account from Abbey, and that the sale of the PPI was made by them prior to MBNA becoming your service provider.
When the account was transfered, new terms and conditions were sent out and you were given the opportunity to cancel your policy, should the new terms not meet with your requirements blah blah blah!!!!!!
However, as a gesture of goodwill I have arranged for a return of the premiums and associated interest.

Amount paid, £3249.81
Total interest associated with premiums, £2178.22
8% Amount, £1924.83

Total amount, £7352.86

Cheque received today.

Happy Days :beer:

di3004

dwt wrote: »

Thank you Martin and everyone on MSE site!
While sorting out the filing cabinet, I came across the documentation for a personal loan my wife had taken out with Alliance & Leicester in September 2001. The loan was arranged over the phone and she was quoted a monthly repayment including PPI. Studying the agreement I realised that she had effectively agreed to an additional loan to pay for the PPI up front and the repayments included interest on the PPI loan.
Even though the loan and repayments finished after 5 yrs (Sept 2006), and A&L have now been taken over by Santander, I thought it worth trying to get a refund having read some of the success stories on this site.
We completed the PPI questionaire from your reclaiming guide using the arguments that the PPI had been pushed on her over the phone, that we had not really needed it given our employment circumstances at the time, and that the total cost of the up front PPI payment had not been made clear in the initial phone call. We added a covering letter finishing with:
"If my complaint is upheld I require a refund of all premiums paid to the policy, plus any additional interest charged to me because of the PPI. I would also like to claim statutory compensation in view of the fact that I have been deprived of the use of this money.
Please now investigate my complaint within the eight weeks allowed to you."

The original documents showed she had been charged £1384 for the PPI loan plus £328 interest on this (total of £1712)
We posted these to Santander last Friday (using 2nd class post) hoping at best for a portion of the £1712 to be refunded after some period of investigation and maybe a few letters back and forth.
Imagine our amazement when we received a letter today, Thursday, offering £2733 in full and final settlement ... for the price of one 2nd class stamp!
Once again many thanks for the advice :T

Absolutely brilliant!:T:j well done and Congratulations!:beer: