PPI Reclaiming successes and failures

GazMan

Just had a letter from the Halifax offering me a refund, interest and 8% interest on PPI for a loan I had £6800 !!! They even refunded PPI paid on a previous loan that had been closed.

tifosi

debtgrenade wrote: »

hello all.
i have a claim in the pipeline, but am tying myself up in knots trying to work out what to expect. im hoping someone can put me out of my misery. here are the figures:
LOAN1
September 2004
Loan amount:£4000
Insurance premium:£1330.49
Total interest charge:3727.81
Total amount payable:9058.30
APR:17.73%
Duration: 7 years (84months)
Monthly repayment: £107.84

This loan was cleared early after 15 months when i renewed with Loan 2 below in Jan 2006:

LOAN 2
January 2006
Loan amount: £4750
Insurance premium: ??-i cant find the paper
Total interest charge:??- i cant find the paper
Total amount payable:??- i cant find the paper
APR:17.73%
Duration:7years (84months)

Loan 2 was also cleared early after 22 months when i consolidated with a different bank in December 2007.

Im hoping those with more 'in-gear' heads than me can work out how much PPI + Interest i can expect from this claim.

Thank you very much.

Hmm

Quite difficult to be accurate due to the lack of known premium for the PPI on the 2nd loan, but I'll have a go with an estimated premium of £1,600 (this is based on percentages by looking at the premium on the first loan)

But the early settlement of both loans would also give reason to be unsure as we cant see from your figures if they gave you a rebate on the PPI each time you settled early?



So, ignoring the above (for now)


Loan 1

£1330.49+£1,000.51 (the portion of the interest charge made on the PPI premium)

= £2,331.00

£2,331.00 X 8% X 7 years = £1,305.87


So total payment for loan 1 should be (approx. !) £3,336.87


Loan 2

PPI Premium £1,600 (approx) + £1,203.92 (interest charged on PPI approx) =

£2,803.92


£2,803.92 x 8% x 7 years = £1241.41

So total payment for loan 1 should be (approx. !) £4044.33


Again, figures given above make no allowance for the fact you repaid each loan early, so if a rebate was given on the PPI each time you settled this will have a major impact on the above calculations

They are also based on being able to claim the 8% compensatory interest from the dates the interest and premium were first applied (the date you took each loan)

citibird27

offcumden wrote: »

Hi its
[EMAIL="Stephen.Hester@rbs.co.uk"]Stephen.Hester@rbs.co.uk[/EMAIL]
Firstly I don't think you have scuppered your chances :money:
If they can't find your agreement why would they make you an offer for ppi that may not exist
I know they are re-branding as the helpful bank instead of the help ourselves bank but :rotfl:
Don't forget that the missing part carries the most interest so
if you haven't already sent a reply to Stephen Hester I would write to him telling him that you accepted the first offer in good faith but on reflection believe that you are entitled to the missing years and that you are now going to refer it to the omsbudsman as you now feel that somebody in his organisation has deprived you of what is rightfully yours.
PS If you have already sent him one, send him another. :D

Thanks again, I will write this weekend, I have nothing to lose, and they have not beheved well at all!
Nine years of payments should be repaid!

Will let you know how I get on, hopefully they will rethink!;)

The_Marksman

h0pusp0pus wrote: »

hi guys well yet more headache but this time with my gfs reclaim and lloyds tsb :mad: clare had a credit card and a loan with them and sent them off in the same envelope waited like 16 weeks and she got to letter back both from the credit card department of lloyds saying they could find no evidence of ppi so clare rang them to find out about her loan and they have no record of her complaint in other words they have lost it!!!!

so she gave them her loan account number and they now claim they have no records of her ever having a loan (she still has her paying in book) and her loan went into default and was passed on to bls collections which is a part of lloyds group!! but no the chap on the phone insisted it wasnt them that she had a loan with and to try black horse so she rang black horse and they put her back through to lloyds saying it was nothing to do with them.

anyways so he refused to give clare a contact address to re send her account number for a sar request which means we are going to have to wait another 40 days!!!

can anyone let me have the address to send the lloyds sar request to please and fao di you gave me a link to that wonderful sar request letter to print out could i have it again please as its lost in the murk of a thousand posts on here lol

This is Lloyds all over!! :mad::mad:

With Regard to your loan account, drop into your local branch and ask them you want all the details on this loan. In my case, I phoned, the ppi helpline, they said i never had a loan with them, must be blackhorse. So phoned them, never had a loan with them too! they then gave me lloyds insurance services number and guess what, they had no record of me! So i then phoned lloyds telephone banking, no record of any loans and then the cheek of do you even bank with us. Yes 17 years!! went into my local branch and asked all 6 loans, and all information and the manger even said telephoning banking & the ppi helpline have exactly the same information!

There is a full sar letter template below.

http://forums.moneysavingexpert.com/....php?t=1475553

And the address you send to.....

LLOYDS TSB BANK PLC
DSAR TEAM
CUSTOMER SERVICES
RECOVERY TEAM
CHARLTON PLACE C57
ANDOVER
HAMPSHIRE
SP10 1RE

galei

Does anyone have the e-mail address for the C.E.O. OF F.O.S.

i have had a claim in with fos for 2 years and last week they wrote back after all this time to say they did not cover the beneficial bank then,Why has it taken all that time to find out what they could have found out in one day
They say they will try the insurance company now, but i feel i should have a word with the C.E.O.

GALEI

Nahla32

:j:jHello this is my first posting .
I sent a reclaim letter to American Express on Monday this week, I had a full refund letter back today. I did not expect to be successful as I had previously claimed in 2007 and been turned down.

sunny8_2

smitchy73 wrote: »

CEO of Clydesdale Bank is [EMAIL="david.thorburn@eu.nabgroup.com"]david.thorburn@eu.nabgroup.com[/EMAIL] and ppi team are on this one [EMAIL="AQU.PPI@eu.nabgroup.com"]AQU.PPI@eu.nabgroup.com[/EMAIL]

Natwest is I think as Di said.

Thanks a lot smithy73, remembered last night i have had a loan with them in the past...going to give it a try...nothing to loose!!:) xx

The_Marksman

Nahla32 wrote: »

:j:jHello this is my first posting .
I sent a reclaim letter to American Express on Monday this week, I had a full refund letter back today. I did not expect to be successful as I had previously claimed in 2007 and been turned down.

:rotfl::j:beer: THATS GREAT NEWS, WELL DONE :beer::j:rotfl:

sunny8_2

di3004 wrote: »

Hi Sunny

How are you?:j Hope things are ok.
Clydesdale CEO here
[EMAIL="Lynne.Peacock@nab.co.uk"]Lynne.Peacock@nab.co.uk[/EMAIL]

Natwest CEO
[EMAIL="Stephen.Hester@rbs.co.uk"]Stephen.Hester@rbs.co.uk[/EMAIL]

All ok here thanks honey and its nice to see you back.:T

Thank you missy!! Had a loan with them some time ago & i know i always take PPI..going to give it a go!! Have you not heard from your on going one? was it with welcome? xx

Derwent

citibird27 wrote: »

Thanks again, I will write this weekend, I have nothing to lose, and they have not beheved well at all!
Nine years of payments should be repaid!

Will let you know how I get on, hopefully they will rethink!;)

You have nothing to lose. HSBC tried to do the same with me and I challenged it saying if they didn't include the prior years then they were not providing full redress as per FOS guidelines. They relented and when I got my final offer the letter included this paragraph....

"I note that you are certain that you held your HSBC credit card since March 2003, although we have no records of the account prior to February 2005. As a result, it has been necessary to make an assumption of the likely cost of CRP (PPI) for the period March 2003 up to February 2005. I have therefore taken the average premium paid for the following 12 month period (February 2005 to February 2006) and applied this back to the start of the calculation."