PPI Reclaiming successes and failures

nerul

After a very long wait (claim started in September 2009) I finally received my figures from Lloyds TSB this morning. :beer:
Offer is for £16,471.87 :j:j

Problem is I have no idea if the figures are correct and would ask that Nigly or one of the other experts to check them for me

Breakdown of their figures :

Refund of premiums = £23,233.44
Interest at base rate + 3% = £ 3,934.82
Interest at 8% calculated up until 03/09/2011 = £ 6,078.10
Optional-Partial rund of PPI already applied =-£16,774.49

Total =£16471.87

My loan agreement figures were as follows:

Principal amount of loan £95,000
Arrangement Fee £1425.00 (added to loan)
BLRI (PPI) Premium £23,233.44 (added to loan)

Interest Rate Currently 7% perannum
Debited Monthly @0.58%
Credit Period 180 months

Number of repayments 180
Repayment frequency - Monthly
Loan Repayment £866.70
BLRI (PPI) £208.83
Total repayment per month £1075.53

I paid this business loan back after it had been running for 27 months.

I am really giddy about this life changing sum but want to be sure the figures are correct. I cant work out where the monthly PPI repayments of £208.83 figure in their offer.
Please can anyone help ?

tiesteelm

di3004 wrote: »

Hiya, sorry to hear this news, EGG seem to be a nightmare on not upholding complaints, and i have read a few rejections from them today.

If this was not the final decision, then i would write back and ask them to reconsider, but try giving them more details.
Was this sold online?

Work on why they rejected your complaint, for example, was it because it was purchased online and it was an opt out?

In this case, as it may have applied to you, then I would tell them you assumed it was all part of the policy because you tried opting out and it would not allow you to go further with the application.
I understand this have been a problem for many on here.

Did they enclose details of the Financial ombudsman service (FOS)? if so you could go to them now, but otherwise write to them give them 14 days and ask them to reconsider, make them aware if you do not hear anything or if they do not change the decision in your favour then you will take this complaint further.

Good luck on this, please keep us posted.
Cheers.;)

I have sent my complaint into the FOS.
Egg said that the box was ticked, and they are not going to uphold my complaint, and that the matter is noe closed....

I'm ready to fight !

Slimming-world

learner123 wrote: »

received upheld letter last week on 4 accounts from firstdirect, today received settlement, of £4,900, only paying premiums paid + interest

1, 4,813.00 over 83 mths 2002 7.9 apr
2 235.00 over 23 mths 2002 14.9 apr
3 2072.00 over 71 mths 1999 9.9 apr
4 2689,00 over 83 mths 1999 8.9 apr

got photo copies of these accounts acc 1 and 2 mentions drawn down date, is it afair offer, many thanksgood luck to all:T

Well done :j:j

I also received the info on my First Direct Refunds today, can I ask if your letter states that you will need to pay tax on the interest?

di3004

plumfin wrote: »

Hi all, had a couple of offer letters from Barclaycard, which is great. However, I need someone to check my decline reply to them letter and give advice if poss? thanks


Dear Sir

I have found some more statements, going back to July 2005. All show PPI, and I will scan them and email them back in. The offer letter states that I have paid £686.40 in premiums. However, from the 4 further statements I can find alone, the premium paid is £162.65. I took the card out in April 1998, PPI was cancelled in Dec 2006.

I can prove I paid at least £960 in premiums from my statements from 2005 to 2006, and even if you were to low ball an average for the previous 6 years at £20 per month, that would mean a further total of approx £1440.

Please can you look into this for me urgently? I appreciate the offer but as I explained, I feel it is totally incorrect. Could you also confirm that the element B on the offer is compound interest on the card rather than just interest? I understand that the FOS state that I have to be put back to the same position as I was if I had not been mis sold PPI. My understanding of charges then, is that if I had paid you £100 inc PPI of £20, you need to reconstruct this as £100 paid off the card. This would then impact the interest on the extra £20 that did not come off the balance, and so on for every month after. Many thanks


thanks all for advice

Hi there

In my opinion that is a great letter!:T

I just hope they will take this into consideration now, as you have the proof afterall, good luck and fingers crossed. x

di3004

jjww wrote: »

Hi

I have been successful in reclaiming mis-sold ppi on 2 loans I had with HSBC, but not sure where I would stand in regards to an Income protection policy we were told we had to take out when we took an hsbc mortgage, We are self-employed and paid the income protection policy from dec 2001 until november 2008. it was taken out as a seperate dd from the mortgage.

Thanks for any help.

Hi there

I think maybe dunstonh and or magpiecottage will be able to help with this one, as its in regards of a mortgage ppi, so below although its still within the ppi reclaiming thread, its a new separate thread, I would title it somethine like Mortgage Income Protection help.
http://forums.moneysavingexpert.com/newthread.php?do=newthread&f=169

Good luck.:)

di3004

Pickers9 wrote: »

After writing to the bank about loans dating back to 1997 I received my final offers this morning thought I would get a few hundred pounds or so BUT to my amazement £11k of refund offers! The biggest was £6700 on one loan! I have now written to check my last two mortgages with them! Thanks to MSE inspiration paying off my credit cards this month and cutting them up! just write if you don't know if you had PPI you might get the best reply ever!! Thanks again and gud look all... will let you know how the mortgage ones go!

Hi and welcome and Well done!:T & Congratulations!:beer:

di3004

jambos_1874 wrote: »

hi there just got a letter back from bank of scotland saying i would get back all ppi back plus 8% interest. But the letter does not tell me how much i will get back.

can any1 help with what i should do next. should i just accept the offer or should i phone bank and ask how much im getting back before i accept the offer.

any help would be greatful

Hi there

That is great:T Congratulations!:beer:

They are then paying you back all plus interest, so this is the offer you've been waiting for, you will not get any better than this because this is as far as it goes with it being in your favour, well done!:T
They should also send you the breakdown in due course, but no harm in asking them anyway, and feel free to post them on here and someone will check them for you.

di3004

learner123 wrote: »

received upheld letter last week on 4 accounts from firstdirect, today received settlement, of £4,900, only paying premiums paid + interest

1, 4,813.00 over 83 mths 2002 7.9 apr
2 235.00 over 23 mths 2002 14.9 apr
3 2072.00 over 71 mths 1999 9.9 apr
4 2689,00 over 83 mths 1999 8.9 apr

got photo copies of these accounts acc 1 and 2 mentions drawn down date, is it afair offer, many thanksgood luck to all:T

Wonderful!:T Congratulations!:beer:

di3004

natsbubbles wrote: »

just wanted to share my brilliant news!
Got a letter from barclays today sayingthey are upholding my complaint..£4911.62
Thats far more than what i was expecting and will make me debt freeeeeeeeeeeeeeeeeeeeeeee, and also a tiny bit for me to treat myself.
Thanks to everyone on this site for keeping my faith going

Excellent news, well done!:T & Congratulations!:beer:

Topkapi

tifosi wrote: »

Was the RBS a credit card, or loan?[/QUOTE

It was a loan. Can give you the details if you need them.