PPI Reclaiming successes and failures

bhoqoN

tifosi wrote: »

Hi,

I wouldnt pin your hopes on 28 days

They originally stated that to me but both RBS and FOS now inform me they are allowed 8 weeks from the date of the "upheld" letter to calculate and pay the amount due

Hi tifosi,

They sent calculations and settlement figure and have sent another letter saying on or before the 30th! I will keep all posted on this one!!:j:j

Morgan2011

Hi,

Just made my first PPI claim after reading these forums, can you please advise i have not used any of the templates on the site but instead sent a secure message to Egg please see below.
Have any of you had dealings with Egg and would you advise me to do anything else or just wait on them getting back? Should i have went through one of the PPI claims companies to process my claim?
Any advice greatly appreciated!

I can cofnirm that the Loan Repayment Protection was removed from your Egg Loan on 8 October 2009. I've passed your details to our Customer Relations Team who look into reimburse you. They will be able to confirm any rebate if any is due. Once received the Customer Relations Department will send you confirmation of receipt in 3-5 working days by post. They'll then respond again within four weeks with a final response or details of the investigation and when a final response will be given. If a final response wasn't given within the four week timescale they'll write to you again within eight weeks with a final response. At this point you've the right to forward your complaint to the Financial Ombudsman.

Hi I had an Egg loan which has recently passed to moorgate loans i have just received a copy of my agreement and a statement going back to 2006 when the loan started and it shows PPI was applied between 2006 and 2009. I recall when contacting Egg in 2009 to re service my loan the advisor mentioned about the ppi therefore i asked him to cancel the PPI as i didnt need it or agree to it. I have since been made aware that financial organisations are obliged to reimburse PPI in such instances. As a result i wish to know how much in PPI and interest did i pay and is there a PPI department in Egg this complaint can be passed to so i can seek compensation.

tifosi

bhoqoN wrote: »

Hi tifosi,

They sent calculations and settlement figure and have sent another letter saying on or before the 30th! I will keep all posted on this one!!:j:j

Good grief,

doing better than me then - when did you start the complaint?

ArferDaly

Morgan2011 wrote: »

Hi,

Just made my first PPI claim after reading these forums, can you please advise i have not used any of the templates on the site but instead sent a secure message to Egg please see below.
Have any of you had dealings with Egg and would you advise me to do anything else or just wait on them getting back? Should i have went through one of the PPI claims companies to process my claim?
Any advice greatly appreciated!

I can cofnirm that the Loan Repayment Protection was removed from your Egg Loan on 8 October 2009. I've passed your details to our Customer Relations Team who look into reimburse you. They will be able to confirm any rebate if any is due. Once received the Customer Relations Department will send you confirmation of receipt in 3-5 working days by post. They'll then respond again within four weeks with a final response or details of the investigation and when a final response will be given. If a final response wasn't given within the four week timescale they'll write to you again within eight weeks with a final response. At this point you've the right to forward your complaint to the Financial Ombudsman.

Hi I had an Egg loan which has recently passed to moorgate loans i have just received a copy of my agreement and a statement going back to 2006 when the loan started and it shows PPI was applied between 2006 and 2009. I recall when contacting Egg in 2009 to re service my loan the advisor mentioned about the ppi therefore i asked him to cancel the PPI as i didnt need it or agree to it. I have since been made aware that financial organisations are obliged to reimburse PPI in such instances. As a result i wish to know how much in PPI and interest did i pay and is there a PPI department in Egg this complaint can be passed to so i can seek compensation.

Hi.

Egg seem to be one of the better companies to deal with. Put my complaint in over phone and had a good response in about six weeks.

Good luck.

Mark

tifosi

Morgan2011 wrote: »

Hi,

Just made my first PPI claim after reading these forums, can you please advise i have not used any of the templates on the site but instead sent a secure message to Egg please see below.
Have any of you had dealings with Egg and would you advise me to do anything else or just wait on them getting back? Should i have went through one of the PPI claims companies to process my claim?
Any advice greatly appreciated!

I can cofnirm that the Loan Repayment Protection was removed from your Egg Loan on 8 October 2009. I've passed your details to our Customer Relations Team who look into reimburse you. They will be able to confirm any rebate if any is due. Once received the Customer Relations Department will send you confirmation of receipt in 3-5 working days by post. They'll then respond again within four weeks with a final response or details of the investigation and when a final response will be given. If a final response wasn't given within the four week timescale they'll write to you again within eight weeks with a final response. At this point you've the right to forward your complaint to the Financial Ombudsman.

Hi I had an Egg loan which has recently passed to moorgate loans i have just received a copy of my agreement and a statement going back to 2006 when the loan started and it shows PPI was applied between 2006 and 2009. I recall when contacting Egg in 2009 to re service my loan the advisor mentioned about the ppi therefore i asked him to cancel the PPI as i didnt need it or agree to it. I have since been made aware that financial organisations are obliged to reimburse PPI in such instances. As a result i wish to know how much in PPI and interest did i pay and is there a PPI department in Egg this complaint can be passed to so i can seek compensation.

Hi,

the loan agreement should state the PPI premium amount on it?

Obviously we cant advise how much you should be looking to obtain without seeing figures for what was borrowed/paid

If you are still able to access your Egg account online, you can send a com-plaint via secure messaging

If not, write to:


[FONT=&quot]PPI Customer Complaints[/FONT]
[FONT=&quot]Egg[/FONT]
[FONT=&quot]Pride Park[/FONT]
[FONT=&quot]Riverside Road[/FONT]
[FONT=&quot]Derby[/FONT]
[FONT=&quot]DE99 3UL[/FONT]

Morgan2011

Sorry i probably wasnt very clear i sent them a secure message via the egg website and got the following response:

I can cofnirm that the Loan Repayment Protection was removed from your Egg Loan on 8 October 2009. I've passed your details to our Customer Relations Team who look into reimburse you. They will be able to confirm any rebate if any is due. Once received the Customer Relations Department will send you confirmation of receipt in 3-5 working days by post. They'll then respond again within four weeks with a final response or details of the investigation and when a final response will be given. If a final response wasn't given within the four week timescale they'll write to you again within eight weeks with a final response. At this point you've the right to forward your complaint to the Financial Ombudsman.

I fully expect them to say i agreed to it at which stage i will write to the ombudsman with all relevant documentation.

k77mss

hi guys could somebody please give me the quotes from fsa handbook ithink its them that tells companys about not upholding complains reguarding staffs advice at time of sale not being sole reason. hope this makes sence trying to write letter back to blackhorse after they said no
thanxs

fletchmeister

Hi everyone, does anybody know how long it takes for hsbc calculations team to give you a figure or does anyone have a number to contact them directly as the general customer services are rubbish

Many thanks

Niggly_2

bhoqoN wrote: »

To the fantastic maths wizards:

Loan 1
July 2004
Loan amount 3000
PPI 448.50
Term 24
APR 8%
154 per month - paid 9 installments
Paid it off with 1709.76 from loan 2

Loan 2

April 2004
Loan amount 13000
PPI 3419
APR 7.9%
Term 60 months
paid 329.78 x 25 the paid off 8297.64 from loan 3

Loan 3

May 2007
Loan amount 13700
PPI 3603.10
APR 7.9
Term 60 months
Paid 347.54 x 4 the paid off 12996.29 from loan 4

Loan 4
Sept 2007
Loan amount 24000
PPI 6231
APR 7.9
Term 60 months
608.14 per month - still running

Many thanks!!!

Loan 1


07/04 TO 03/05
9 payments of PPI = £20.02 X 9 = £180.18 (448.50/3448.50 X 100 = 13%) (154 X 13% = 20.02)
8% simple Interest on the 9 payments = £99.70 (from 07/04 to 08/11 is 86 months)
£448.50 was also paid for the PPI policy. £168.50*
Interest on this at 8% £74.14 (66 month)
*(We don’t know how much rebate was given so an accurate refund on this is impossible. What you can be is very conservative and say they gave you a proportionate refund of 15/24ths (yeah right) which is £280 meaning that you had to pay £168.5, which was added to loan 2. This figure is likely a lot higher and thus refund on claim will be higher)

Total £522.52
Loan 2

04/05 to 04/07
25 payments of ppi = £68.66 x 25 = £ 1716.50 (3419/16419 x 100 = 20.82%) (329.78. x 20.82% = (68.66)
8% simple interest on 25 payments =£749.31 (from 04/05 to 08/11 is 77 payments)
PPI single premium is £3419 assume rebate is 50% then £1709.50*
Interest on this at 8% £604.02 (53 months)
*Again likely to be much higher but want conservative figs

Total £4779.33

Loan 3

05/07 to 08/07
4 payments £72.36 = £289.44 (3603.10/ 17303.1 x 100 = 20.82%) (347.54 x 20.82% = £72.36)
8% simple interest on 4 payments £99.37 (52 months)
PPI single premium is £3603.10 assume pro rata refund 54/60ths then £240.21
Interest on this at 8% £ (48 months) £76.87

Total £705.89
Loan 4

[FONT=&quot][/FONT]
[FONT=&quot]48 PPI premiums of £125.28 = £6013.44[/FONT]
[FONT=&quot]8 % interest is £982.20[/FONT]
[FONT=&quot]£6231 plus interest taken off the loan[/FONT]
[FONT=&quot]Premiums to reduce to £482.86[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Total £6995.64[/FONT]
[FONT=&quot]
[/FONT]
Total £522.52
Total £4779.33
Total £705.89
[FONT=&quot]Total £6995.64[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Total 4 loans £13003.38[/FONT]

Morgan2011

Can i ask in peoples experiences is their any benefit in claiming ppi with a third party acting for you? I have a pack at home from one of these companies but have decided to pursue the claim on my own after realising Egg will act on a email claim and i have all the relevant information already should it be required.
Does legal representation strenghten your chances of success?