PPI Reclaiming successes and failures

di3004

Andred wrote: »

Hi all, just a quick note to let people know that even if you get turned down the first time with your PPI claim, carry on!
I was turned down by HSBC after I claimed that being self employed meant that my "cardholder protection repayment" insurance (PPI equivalent) was missold as it wouldnt cover me if I couldnt work.
To cut a long story short, I ended up phoning HSBC up and asking them to send me all the details on which they had made their decision (i am based in the Channel Islands so dont have the backing of the ombudsman).
I suggested that i wanted to consult a lawyer and needed to see the same details that the ombudsman would want to see.
They very nice guy said he would phone me back and within an hour I had an offer for £3341.
This was all my dividends from 2005 onwards (they claim they dont keep records for any earlier than this) plus 8% compounding interest.
I suspect i might have been able to get more if i had argued that the compounding interest should have been at the rates charged to me, but as this might have meant lawyers getting involved, i took their offer.
So my message would be - dont give up if you are first refused.
Good luck everyone!
Cheers
Andred

Well done to you Andred:T Congratulations!:beer:

computerbuddy

di3004 wrote: »

Hi there

I don't think they used to, but it's possible they may do now since the Judicial Review, or they will go back to them at some point, but I would not guarantee of them doing that, so if you think you have a reclaim on previous loans, try to make a reclaim on them yourself anyway, good luck.;)

Thanks Di, i will most certainly make sure they have gone back to all previous loans/credit cards. You are so lovely!:A

tifosi

offcumden wrote: »

Hi Tifosi
Very interesting post
I have tried the link however the calculator doesn't seem to work or maybe its my scrambled brain
What figures are you putting where ?

My understanding of the latest situation is that they are supposed to take off the highest interest first although this didn't happen on a Natwest card until I challenged it and got it refunded

Having looked at my Cap one statements from what I can understand the interest charged as ppi appears lower than either purchases or cash advances at say 8 or 9% but as it seems to be applied after they have already applied the other interest one could argue it is considerably higher. take your example

17% purchases
19.5% cash withdrawals
add 9% ppi
26% purchases
28.5% cash withdrawals
but they wouldn't do that, would they ?

Hi,

the figures need to be entered to the left of each arrow on the web calculator

So, for each monthly premium you enter (in order)

Initial Capital = monthly PPI premium paid
Payment (Month) = 0
Interest rate = 26
Years = however many years since the premium was paid


Then press "Calculate"



I've used your purchases rate for the interest rate above, but can you scan and post up the part of the CC agreement that shows the % charged on each type ?, yours sounds VERY strange! (but it does rather sound as though they MAY be charging 26% (Purchase) PLUS 9% (PPI) on every PPI premium!!?? - if that is right its scandalous!

:mad:

di3004

computerbuddy wrote: »

Thanks Di, i will most certainly make sure they have gone back to all previous loans/credit cards. You are so lovely!:A

Your very welcome.:A

Aww am I? :happyhear, thank you, you lot are fab too.:A:T:T:T XXXX

computerbuddy

Called Halifax on Wednesday and they said they were still gathering info, is this a good sign? Thanks in advance x

IANC

computerbuddy wrote: »

Called Halifax on Wednesday and they said they were still gathering info, is this a good sign? Thanks in advance x

They said the same to me.

Anything other than a rejection is good news in my eyes.

If they have the agreements and are still gathering info, I would say it is historical statements for calculation purposes

But I am a very optimistic person, so I could be wrong.

Scotty1.7

Scotty1.7 wrote: »

feeling quite sick about mine

Still within the 28 day period for MBNA(Virgin) and I'm trying to find out if the Co-op are being sly with the 16 week ruling, seen as it is not on the FSA sight any were and I only have the word for it.

Quick updaet from me on mine

Co-Op. Still with them, still awaiting any further info on the 16 week ruling (FSA have now confirmed it is correct)

MBNA, No Response yet after then 28 day letter

And a new one has reared its head- Welcome Finace. I didn't even realise it was on the loan they gave me so I've filled in there paperwork and I'll send it off to see what happens there.

computerbuddy

IANC wrote: »

They said the same to me.

Anything other than a rejection is good news in my eyes.

If they have the agreements and are still gathering info, I would say it is historical statements for calculation purposes

But I am a very optimistic person, so I could be wrong.

Here's to hoping then Ian, im quite optimistic too!! Wow we must be related!:rotfl::rotfl::rotfl::rotfl::rotfl:

di3004

computerbuddy wrote: »

Called Halifax on Wednesday and they said they were still gathering info, is this a good sign? Thanks in advance x

Well hopefully fingers crossed xx;):j

Riggsy1367

I'm in Sierra Leone at the moment, hoping for some good news when I get home.
Congrats to all this weeks winners!!!!!