PPI Reclaiming successes and failures

di3004

Leyburn_Lad wrote: »

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:

Definately Happy Days!:j well done and Congratulations!:beer:

Rae115

hey guys sorry about this - i know its on here but cant find it. can i have the emial address for the CEO of Bank of Scotland please. thanks

Petergra

Rae115 wrote: »

hey guys sorry about this - i know its on here but cant find it. can i have the emial address for the CEO of Bank of Scotland please. thanks

to the best of my knowledge, and also the following site: CEO e-mail addesses . com

the address you are looking for is antonio.osorio@lloydsbanking.com

di3004

Rae115 wrote: »

hey guys sorry about this - i know its on here but cant find it. can i have the emial address for the CEO of Bank of Scotland please. thanks

Hi
Its the same as Lloyds I think.;) HBOS

[EMAIL="antonio.osorio@lloydsbanking.com"]antonio.osorio@lloydsbanking.com[/EMAIL]

Good luck x

di3004

Petergra wrote: »

to the best of my knowledge, and also the following site: CEO e-mail addesses . com

the address you are looking for is [EMAIL="antonio.osorio@lloydsbanking.com"]antonio.osorio@lloydsbanking.com[/EMAIL]

Lol sorry Peter, missed you're post lol.:D;)

tifosi

IANC wrote: »

Well, the PPI represents 9.5% of the total amount borrowed.

So that means that you will have paid around £12 per month in PPI premiums.

So 36 x 12 = £432 in premiums.

The 8% on premiums paid would on these premiums.

And then 8% would be added to the total from the date the loan finished until the date they settle.

I don't have a spreadsheet here to work it out, perhaps Niggly or Tifosi may be able to help soon

julieprit2 wrote: »

Would Tifosi, Di, IANC or Marksman etc. etc. be able to help me with some calculations again?! Am not fussy, anyone will do :rotfl:

Just trying to work out my calculations for a payment from Paragon - did try using the calculators attached to the forum but they didn't work for me (maybe user error!)

Anyway the details are as follows:

It was front loaded PPI.

Loan £4071 (don't ask where the £71 came from, I haven't a scooby doo)
Loan started 4/3/98 over 36 months
Interest 19.968%
Total PPI £388.75 and this was front loaded.

Thanks guys you are a great help :cool:

Hi,

Dont quote me on this obviously, but this should give an approx. of what you should receive

using THIS calculator suggests that over the 36 months you would incur £312 in interest at 19.9%

Giving a total of £744

So if we take the simple option and calculate the £744 at 8% simple since the start of the loan (this would give a slightly wrong figure but close enough for a "ball park").............


£800 (almost exactly!) interest from 04/03/1998 to todays date


So £744 + £800 simple interest = grand total of £1544

Daily interest works out at £0.16 for 4908 days

Again, thats probably erring slightly in your favour by calculating the 8% on both the premium and interest charged from the loan start date, but it'll be as near as makes little difference

tifosi

dwt wrote: »

...........


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

Yet again, Santander are showing others the way it should be done



None of this constantly quoting 8/16 week deadlines and failing to give correct information, just a clear, quick investigation and the right amount returned to the missold customer


RBS, LTSB, HSBC and Barclays - are you reading this you bunch of "not very nice people"?

If Sanatnder can constantly and repeatedly receive, investigate and pay out inside of a week WHY cant you?

There is no excuse, and its about time the FSA etc stopped constantly falling on the banks side and started fining BIG time for these completely inexcusable delays

:mad:

tifosi

Petergra wrote: »

Hi tifosi,

Yeah the MBNA one is a Virgin Money Credit Card. It has been running for years too at quite a high balance. I have used a recent credit report I got for nothing to get the basic balances off it for as far back as I can and this is what I get:

Nothing after April 2011 as I cancelled the PPI on the card realising I did not need it and it was costing me a fortune each month:

Month Approx PPI
April 2011 £63.33
Mar 2011 £63.13
Feb 2011 £63.06
Jan 2011 £65.25
Dec 2010 £65.17
Oct 2010 £65.18
Sept 2010 £64.99
Aug 2010 £67.50
July 2010 £62.32
June 2010 £62.03
May 2010 £64.29
Apr 2010 £66.60
Mar 2010 £63.67
Feb 2010 £63.52
Jan 2010 £65.41
Dec 2009 £65.45
Oct 2009 £65.50
Sept 2009 £65.27
Aug 2009 £65.38

Total £1,227.04

Don't know how to calculate the re-bate I am due - starting to get confused now I have got that far!

Cheers for the encouragement and assistance!!!!!!!:A:A:A

Pete

Right,

you need to use the calculator here for the compound interest thats been charged on the card PPI, (I'm assuming from your "years" comment it goes back further than Aug 2009? - if so, you need to send them a SAR and get as many statements as possible from them - if you dont have them?)

- When did the card actually start?

- What's the APR % that you have been charged on the card?

Petergra

- When did the card actually start?
The card started on 03/08/2005. These are all the charges I can find at the moment - just need to get a SAR to get the rest.

- What's the APR % that you have been charged on the card?
The APR on the card is 20%

only_mee

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