PPI Reclaiming successes and failures

LAURA77

only_mee wrote: »

60 months x £45.86 =£2751.60 + 8% (£220.13) =£2971.73 that's what i get, simple maths.

Mmmm not so sure about that if you look at how to work out how much you will get, on this site.

Anybody else know??

dan4868

yet again phoned RBS and i was not disapointed still no head way on my claim that was subbitted in oct 2010, just told 31 Aug

amersall

LAURA77 wrote: »

Mmmm not so sure about that if you look at how to work out how much you will get, on this site.

Anybody else know??

That looks right to me,if the loan is settled.
Were you expecting more or less than this?.

KIMY

rockstar44 wrote: »

A letter has arrived from the Halifax today my claim is upheld & they're sending me a cheque for £8306.21!!!! :j

Thanks to Martin & all the great help provided by MSE site & users! Thank you

Well done & congratulations:beer:

LAURA77

amersall wrote: »

That looks right to me,if the loan is settled.
Were you expecting more or less than this?.

Yes it is settled, its just i thought there would be more interested on it than that!!!

only_mee

LAURA77 wrote: »

Yes it is settled, its just i thought there would be more interested on it than that!!!

Your's is a straight forward loan not a credit card.

computerbuddy

Hi Guy's can someone help to see what i should receive from Halifax loan taken out in 2001
Cash loan £5,000
total charge for credit for cash loan £1,303
Insurance loan £963.07
Total charge for credit insurance loan £250.73
Total amount i pay for insurance loan £1,213.80
I have to pay the loan and interest by 60 months payments of £125.28
Annual percentage rate 9.9%
Monthly interest rate 0.793%
Total loan £5,963.07
Total charge for credit for total loan £1553.73
Total amount i pay £7,516.80.

Sorry im not very good with figures so i have just put it here as it is on the Loan agreement. Thanks so much in advance. xxxxx

IANC

maryspecial wrote: »

Hi rockstar, massive congratulations to you!!!! :j do you mind me asking when you put your claim in? We have one in since mid may and just wondering when we might hear!!

Mine was 11th May, so this is reassuring

IANC

rockstar44 wrote: »

A letter has arrived from the Halifax today my claim is upheld & they're sending me a cheque for £8306.21!!!! :j

Thanks to Martin & all the great help provided by MSE site & users! Thank you

Well Done :j:j:beer:

Was it a loan or credit card or both?

Any details of the offer would be helpful.

Derwent

amersall wrote: »

That looks right to me,if the loan is settled.
Were you expecting more or less than this?.

I'm not sure it is right. In fact I think the banks are conning people over the 8% by simply taking 8% of the final figure.

The FOS guidelines say the following :-

the addition of interest (normally at the rate of 8% simple per annum) to any excess payments made by the consumer – from the time each payment was made to the point the financial business pays them back to the consumer;

So the interest should be at 8% per year on each payment. So in the case of a payment made in January 2003 you should receive 8 years worth of 8% and so on.

By simply adding on 8% to the premiums the banks are under refunding people quite significantly.