PPI Reclaiming successes and failures

bingobella_2

however i have another egg credit card the old one i have had success see above post, but i have a rejection on the new card this one followed the old one! not sure what i should do i put on the same reasons that it was a pre-ticked box and i would have been elligable with my family run business for support if i was made redundant / sickness etc, do you think i should write back explaining that they have already upheld one claim and rejected another and give them another 14 days to do so! what do people think advice needed! thanks lindsay

bingobella_2

loopyloz84 wrote: »

Hi Everyone

So I rang MBNA customer advocate department yesterday to see if they received the email I sent them in response to their "we're not upholding you cmplain because you ticked the box" response.

The girl I spoke to said, we haven't got your email, it's not been attached to your complaint file, and your complaint will not be reopened no matter what so go complain to the FOS - as uphelpful as she could possibly be!

So this afternoon I decided I'd forward the email to them again but this time copy it in to the CEO too - and within a few hours I received a secured email from a senior case handler at MBNA advising me that he would be handling my complaint personally and has opened a new complaint to deal with the points I have raised in my email, and would get back to me within 7 days but that I was free to contact him whenever I wished

Maybe there is some hope and MBNA will come to their senses!

So to anyone who's been turned down by MBNA, it's worth listening to the great advice that the guys give everyone on here and don't give up the fight - they've not changed their minds yet but it looks like they're taking my email seriously :T

And congratulations to everyone who have heard the magic "upheld" and fingers crossed for everyone still waiting!

ive also rang mbna - virgin on wednesday this is what they had to say

the girl told me on the phone that a final response letter was sent out on 18th august claim rejected based on the reasons that i had applied for ppi and signed the agreement however i spoke to mbna on that same day 18th and was told buy a guy that my claim hadnt even been looked at! and would need more time conflicting info there! do you think i should wait for the letter to arrive and send them an email/letter stating that i was disagrreing that i applied for ppi but the reasons for the mis-selling of it etc!!! some help please would be great! im not giving up!!!

tifosi

conkerlily123 wrote: »

Hi Guys,
Not sure if I have come to the right place, apologies if I am posting on someones thread!

I have recently reclaimed for mis sold PPI that I took out on a FirstPlus loan that was settled early after just one year (full 12 months payment). I am unsure how much I should expect back as compensation.

Loan Details

Cash loan £35600.00
The PPI loan was £8718.44
Total Credit £44318.44
Monthly PPI payments of £84.01
Monthly loan payment £343.01
Total monthly payment £427.02
APR 8.4%
Loan Term 180 months

Settlement figure

Total payable under agreement £75067.89
Less rebate on early settlement -£33096.57
Plus admin charge £150.00
Total payable to settle £42121.32

The letter doesn't detail how much PPI was rebated. It states;

The rebate allowed has been calculated in accordance with the consumer credit (rebate on early settlement) regulations 1993, and include a rebate of the PPI premium (where appropriate).

Not sure if any PPI was rebated at settlement or not.

Hi,

---

NON PPI----
firstly, I would start googling "rule of 78 first plus" - the calculations they use upon settlement are based on the rule of 78, a scanadlous form of calculation that lands them a bumper bonus

There have been several court cases (not nec. against first plus, but exactly the same principles) where the lender has been forced to repay part of the settlement

---

PPI

---

They do state they have included a rebate on the PPI, but by using the twisted principles of Rule of 78, this would seriously impact any refund you may have been given

I would write and ask them to give a full and complete breakdown of how the calculation for settlement was arrivbed at, breaking down the elements so you can see how much of the rbate was PPI and how much was the actual loan amount - until you have this, you are fumbling in the dark really

This one is a little complicated, so for the calcs on the PPI I'll defer to Niggly/Derwent/etc in the hope they can come up with a semi accurate figure

tifosi

bingobella wrote: »

What were you reclaiming: Credit Card PPI
Who was the provider: EGG Card
How much did you get back: £443.56

Did you get it back after a letter or did you go to the Financial Ombudsman: I sent a letter on 8th August 2011 explaining that i beleive i was mis-sold ppi and received a cheque on 31st August 2011.

And then write your brief reclaim tale

Wrote to Egg on 8th August about i beleived that i had been mis-sold ppi (pre ticked box) got a general reply on 12th August to ackwnolege the conplaint, got sent another letter on 22nd august to say looking into the claim but might take up to 30th november to resolve, received upheld letter on 31st august along with a cheque for £443.56, all i say is dont give up even if its not much claim its your money!

CRP Premiums paid £259.07
Refund of interest on premiums paid at card rate £20.47
interest at 8% £148.02
over limit charge £16.00

total refund £443.56

cheque banked for christmas spends! yeahhhhh! :j:j:j

Congratulations to you - excellent win!

:T


Have to ask though, what are Egg playing at? I've sen loads of people here that have had claims in sat around for months on Egg credit cards, yet this one they go from start to finish in 3 weeks??!!!



"All valid claims are being dealt with in date order" - oh pull the other one, will you?

bingobella_2

tifosi wrote: »

Congratulations to you - excellent win!

:T


Have to ask though, what are Egg playing at? I've sen loads of people here that have had claims in sat around for months on Egg credit cards, yet this one they go from start to finish in 3 weeks??!!!



"All valid claims are being dealt with in date order" - oh pull the other one, will you?

i agree with you i thought the same! i have another claim in with egg sent in june got a reply back same day as other success to say that one had been rejected! what are they playing at! my old card is closed dont know wheather that has something to do with it!

The_Marksman

bingobella wrote: »

What were you reclaiming: Credit Card PPI
Who was the provider: EGG Card
How much did you get back: £443.56

Did you get it back after a letter or did you go to the Financial Ombudsman: I sent a letter on 8th August 2011 explaining that i beleive i was mis-sold ppi and received a cheque on 31st August 2011.

And then write your brief reclaim tale

Wrote to Egg on 8th August about i beleived that i had been mis-sold ppi (pre ticked box) got a general reply on 12th August to ackwnolege the conplaint, got sent another letter on 22nd august to say looking into the claim but might take up to 30th november to resolve, received upheld letter on 31st august along with a cheque for £443.56, all i say is dont give up even if its not much claim its your money!

CRP Premiums paid £259.07
Refund of interest on premiums paid at card rate £20.47
interest at 8% £148.02
over limit charge £16.00

total refund £443.56

cheque banked for christmas spends! yeahhhhh! :j:j:j

:rotfl::j:beer: WELL DONE :beer::j:rotfl:

ArferDaly

Hi

Got my letter from Barclays telling me they will get back to me by 25 Oct spose they upheld the 31 Aug deadline by doing this :mad:

Now sat on phone to LLoyds for last 10 minutes,to see if a rejected complaint that was being looked into again has progressed any.

Wish Me Luck.

Mark

DrSqueeze

ArferDaly wrote: »

Hi

Got my letter from Barclays telling me they will get back to me by 25 Oct spose they upheld the 31 Aug deadline by doing this :mad:

Now sat on phone to LLoyds for last 10 minutes,to see if a rejected complaint that was being looked into again has progressed any.

Wish Me Luck.

Mark

Good luck!

When did you first contact Barclays? The 31st August deadline doesn't apply to all complaints, only specific ones:

• PPI complaints still with the firm but put on hold during the judicial review will receive a decision by the end of August;
• PPI complaints received after the conclusion of judicial review but on or before the 31 August will be responded to within 16 weeks; and
• PPI complaints received on or after 1 September and before 31 December 2011 will be responded to within 12 weeks.

The_Marksman

ArferDaly wrote: »

Hi

Got my letter from Barclays telling me they will get back to me by 25 Oct spose they upheld the 31 Aug deadline by doing this :mad:

Now sat on phone to LLoyds for last 10 minutes,to see if a rejected complaint that was being looked into again has progressed any.

Wish Me Luck.

Mark

Try to stay calm Mark & best of luck

Niggly_2

conkerlily123 wrote: »

Hi Guys,
Not sure if I have come to the right place, apologies if I am posting on someones thread!

I have recently reclaimed for mis sold PPI that I took out on a FirstPlus loan that was settled early after just one year (full 12 months payment). I am unsure how much I should expect back as compensation.

Loan Details

Cash loan £35600.00
The PPI loan was £8718.44
Total Credit £44318.44
Monthly PPI payments of £84.01
Monthly loan payment £343.01
Total monthly payment £427.02
APR 8.4%
Loan Term 180 months

Settlement figure

Total payable under agreement £75067.89
Less rebate on early settlement -£33096.57
Plus admin charge £150.00
Total payable to settle £42121.32

The letter doesn't detail how much PPI was rebated. It states;

The rebate allowed has been calculated in accordance with the consumer credit (rebate on early settlement) regulations 1993, and include a rebate of the PPI premium (where appropriate).

Not sure if any PPI was rebated at settlement or not.

Right then. I am refeering to the First Plus PPI policy document and in it states at 12 months a rebate of 25% will be given on cancellation.

So the settlement figure they so kindly prepared will mean that:

£8718.44 x 25% = 2179.61 will have been refunded against the loan.

This means in the settlement figure you will have paid £6538.83 which they will have to refund to you as part of the settlement plus 8% interest from the date you paid it until now.

If the settlement figure includes the payments you made to the ppi then these will reduce the the above refund i.e.

£6538.83 - (£84.01 x 12) = 5530.71 plus 8% simple
There may be a small amount of interest they pay due to the ppi as well.

N:beer: