PPI Reclaiming successes and failures

di3004

tony.1977 wrote: »

phoned barclays today,my 16 weeks was up yesterday and the lady said the offer letter was sent out on the 26th of august, but she then told me that my claim had been upheld and i would be getting 1.700 redress back ,i then went on to tell her that this was wrong and that the ppi on the last loan alone that i only just paid off on the 25th august was 2.184.88 ,she then kept me on hold for 15 minutes and came back to tell me that they hadnt put the last loan on mmmmmm very sneaky again ,she said she has put a note into my case manager ;o( more waiting for me and will need my figures checked on here when they come back ,,,,,,,,,but a wins a win lol good luck to everyone else just check those figures carefully ;o0

Good one Tony and Congratulations! :beer:

Scotty1.7

Scotty1.7 wrote: »

Further update for you all

Co-Op Still on going but has till till the 20 of september.

Welcome Finance no response yet to the letter going into them.

MBNA- the magic word UPHELD. They advised they are upholding all claims and will advise the full redress and re payment asap (8 weeks is the quoted time but the chap n the phone did say they were going through them a little quicker.)

Not sure what the amount back will be but its all good

Hi All

Further update for you

Co-Op- Still on going and starting to annoy me with the lack of comms from them,

MBNA-Upheld awaiting figures and redress

Welcome Finance- Upheld, awaiting figures

Might have also found some with RBS- Not sure I', awaiting my details from my helpfull local branch

tifosi

claire95 wrote: »

hi all just been reading this on the guardian website, lets see if it happens:eek:

The six banks – HSBC, Barclays, Lloyds Banking Group, Royal Bank of Scotland, the Co-operative Bank and Egg – were granted the temporary extension by the FSA to ensure their backlogs of complaints were handled properly.
Many firms had decided to put some or all of their PPI cases on hold when the banking industry mounted a legal challenge to the FSA's new complaint handling measures. The banks abandoned their challenge in May, opening the way for millions of people to receive compensation totalling billions of pounds.
It is understood that the banks were supposed to send out letters telling people whether their complaints had been upheld or not, and, in the case of those individuals who were successful, at the very least provide information about how much money they were likely to receive. The redress is typically taking the form of a refund of premiums paid plus interest.
HSBC has been sending out these "decision letters", but some have not contained all the necessary information about redress.
In a statement to the Guardian, a bank spokesman said: "Over the past 12 weeks we have been in weekly contact with the FSA over our processing of customer PPI complaints. We have already written to all customers whose complaints were on hold due to the judicial review with a decision on their complaint, and will have communicated the final redress amount to all customers with an upheld complaint by the end of this week

Thanks for the post!

I'll eat my hat if HSBC manage to get all the figures out by end of August (for those on hold during the JR, that is)

Did a friends HFC and Beneficial, they sent an "upheld" 3rd August and said they would return "promptly" with th actual offer

Well, to us mere mortals, "promptly" would mean a few days, a week at most, but here we are on the 31st August....Hello?.......HSBC?........Anyone there?

caroled_2

i also recieved an upheld letter on 1st august , when i phoned a week later i was told that "promptly" still meant 31st august as they were just keeping me informed! yet another lie from hfc!!
when i phoned yesterday i had noticed they were more apologetic for the delay, after keeping me on hold for a few mins i was told my letter was produced this morning and i would recieve it up to 7 days later, i had a moan about waiting since january and it should not take a week to get a letter in the post, they could not tell me what was in the letter and could not put me through to anybody who could so i have told them i will give them 3 days and then i will phone them all day everyday! i will also email the boss as i did get a call from him last time i had a moan.
good to hear that many have now had refunds! enjoy spending it!

sunny8_2

Scotty1.7 wrote: »

Hi All

Further update for you

Co-Op- Still on going and starting to annoy me with the lack of comms from them,

MBNA-Upheld awaiting figures and redress

Welcome Finance- Upheld, awaiting figures

Might have also found some with RBS- Not sure I', awaiting my details from my helpfull local branch

Well done bud :j:jxx

sunny8_2

claire95 wrote: »

hi all just been reading this on the guardian website, lets see if it happens:eek:

The six banks – HSBC, Barclays, Lloyds Banking Group, Royal Bank of Scotland, the Co-operative Bank and Egg – were granted the temporary extension by the FSA to ensure their backlogs of complaints were handled properly.
Many firms had decided to put some or all of their PPI cases on hold when the banking industry mounted a legal challenge to the FSA's new complaint handling measures. The banks abandoned their challenge in May, opening the way for millions of people to receive compensation totalling billions of pounds.
It is understood that the banks were supposed to send out letters telling people whether their complaints had been upheld or not, and, in the case of those individuals who were successful, at the very least provide information about how much money they were likely to receive. The redress is typically taking the form of a refund of premiums paid plus interest.
HSBC has been sending out these "decision letters", but some have not contained all the necessary information about redress.
In a statement to the Guardian, a bank spokesman said: "Over the past 12 weeks we have been in weekly contact with the FSA over our processing of customer PPI complaints. We have already written to all customers whose complaints were on hold due to the judicial review with a decision on their complaint, and will have communicated the final redress amount to all customers with an upheld complaint by the end of this week

Thanks for the info...hopefully they should be made to stick to it, they get away with murder...when you see some of the refunds people are getting..sometimes 12 -16000..if WE owed the banks that & told them to wait for months on end, im sure something forceful would be conducted:cool::cool:xx

sunny8_2

Well...here it is.... :T:T:T Good luck to each & every one of you:j:j:j:jxx

pigsmightfly

tifosi wrote: »

Hi,

to get this all you need do is take the "Total amount you pay for insurance loan £2,270.52" (PPI+interest charged on it) and divide by the number of months?

So £2,270.52 / 84 = £27.03

If you can let us know when you started the loan, we'll make a stab at how much you ought to get (allowing for the 8% compensatory interest)

Did you pay the loan off?

Hi,

Thanks for explaining that, seems so simple when you write it down

Well this is where it gets tricky. The loan still isn't paid off as I missed a few payments and it got passed to Blair Oliver and Scott (who I believe are part of Halifax anyway). I set up a payment amount with them and have not missed a payment since. The loan still has a balance of £1,000 at the moment but I was told as the total amount of the loan is based on the original amount including the PPI I didn't even know I had, the payment amounts and missing payments wouldn't matter?

I have had a reply from halifax saying they are paying and I've sent my signed form back so just waiting for their calculations but was just curious how it was worked out considering my different payment amounts?

sunny8_2

tony.1977 wrote: »

phoned barclays today,my 16 weeks was up yesterday and the lady said the offer letter was sent out on the 26th of august, but she then told me that my claim had been upheld and i would be getting 1.700 redress back ,i then went on to tell her that this was wrong and that the ppi on the last loan alone that i only just paid off on the 25th august was 2.184.88 ,she then kept me on hold for 15 minutes and came back to tell me that they hadnt put the last loan on mmmmmm very sneaky again ,she said she has put a note into my case manager ;o( more waiting for me and will need my figures checked on here when they come back ,,,,,,,,,but a wins a win lol good luck to everyone else just check those figures carefully ;o0

Congratulations :T:Txx

sunny8_2

Derwent wrote: »

I had an illuminating experience with a certain bank earlier regarding calculations. They sent me my figures last week and I refused to accept them as they looked wrong. So they sent me their calculation spreadsheet and lo and behold there is such a basic error on it that it took me all of 10 seconds to spot. The industry standard for PPI premiums was around 79p per £100 balance, i.e. total monthly balance x .0079, so a balance of £10,000 would have a premium of £79 in the month. On their spreadsheet there were a couple of months where the balance was almost exactly £10,000 yet according to them the PPI paid in those months was £27 and £33 respectively. I checked the other months and there is not one single month where the PPI equals 79p per £100 and in some months its as low as 11p per £100. Given that the PPI factor is fixed then it should be a simple equation each month of balance x .0079 without fluctuation. I asked them why this was and they are unable to explain it other than 'the system must have made a calculation error'. They are now recalculating, except now I have their base data so have already calculated it - lets just say the difference between their original calcs and the proper ones are in excess of £8k !!!!!

WOW!!!!!:rotfl::rotfl::rotfl::rotfl: well done matey!!! :j:j:j Sooo pleased for you!!:T:T:Txx