PPI Reclaiming successes and failures

claire95

The_Marksman wrote: »

haha i hope it one of those massive cardboard type chegue's due to all the zero's on the end!

Mmmmmmm........... Still wondering what my colour coding is all about? anyone else noticed this? :cool:

me and my hubby both had a green dot on the left hand corner of the envelope to send back to hsbc it had been done with felt tip,i was wondering too why this was on there.

The_Marksman

claire95 wrote: »

me and my hubby both had a green dot on the left hand corner of the envelope to send back to hsbc it had been done with felt tip,i was wondering too why this was on there.

lol it is a little strange?

I got pink lol :rotfl:

kaladin

Hi There,

I was just wondering if anyone could do me a rough calculation on the following:

Original loan £21500 over 84 months. Taken out in Feb 2006
Monthly payment £420
Interest @ 7.53%

Many Thanks
Kaladin

kelly993

nemo77 wrote: »

Hi All,

I've posted this elsewhere but without any luck - can anybody help???

I'm currently having problems with a Halifax PPI claim. I sent a claim in a month or so ago. Halifax then ackowledged receipt of my claim to the address I lived at when I took the loan out (I only received the incorrectly addressed letter by fluke as a family member happened to be doing the post that day!). Its frustrating because I provided my current address with the PPI claim.

I have since wrote to Halifax twice to advise them of the change but have heard nothing back . I'm now concerned that future correspondence will go to my old address.

The telephone number on the letter I received is constantly engaged which is adding to my frustration.

Could anybody please provide an email address for complaints?

Thanks in advance!

Hi Nemo

On your letters did you specifically ask them to acknowledge receipt? If not then I would send them another letter by recorded delivery and ask them to confirm that they now have the correct details. I did this with EGG and it seemed to work.

Niggly_2

Niggly wrote: »

The statement of Demands and Needs reflects the customer's circumstances at the time of the application. It also confirms our recommendation of whether or not customers should take PPI and their decision whether to accept or decline our recommendation.

In this instance, the document shows you agreed our recommendation. I enclose a copy for your reference.

In this instance the PPI sale recommendation was correctly made based on known facts provided by them to us; and it also shows you agreed with our recommendation. I enclose a copy for your reference.

FP are admitting to this being an advised sale on this point alone I think the FOS will uphold the claim on the basis of cost.

Who is the full insured on the policy.
At the time of sale what benefits were available to the insured to cover the payments in terms of disability, unemployment, or sickness. (FOS have said the life cover element is insignificant in there previous case studies).
How long was the insured in that employment at the time of sale
How long would they recieve full pay and then half pay
In the event of disbility would the insured recieve long term benefits such as early retirement, or payment under a disability fund the employer operated.
Was there a redundancy package avaliable, how much would this have paid the insured and for how long.

What was the cost of the PPI policy.
How much was the total payment for the loan.
Is the needs analysis signed by you and your partner and returned to FP or did they just complete over the phone.
Did the salesman complete a needs analysis on both of you over the phone. By this I mean did he speak to each of you to complete a needs analysis.

Listen I am willing to bet that the cost of the PPI policy in its entirety is more than the benefits that can be reasnobly be claimed under the policy.

If you could answer the above questions I will add my two pennies and include some deatil from the FOS handbook.

N:beer:

Further to the above here is the relevent clause under the FOS guidelines we are going to get them on subject to the above.

DISP App 3.6.2 01/12/2010
(5) did not, for an advised sale (including where the firm gave advice in a non-advised sales process) take reasonable care to ensure that the policy was suitable for the complainant's demands and needs taking into account all relevant factors, including level of cover, cost, and relevant exclusions, excesses, limitations and conditions; or
(6) did not take reasonable steps to ensure the complainant only bought a policy for which he was eligible to claim benefits; or
(7) found, while arranging the policy, that parts of the cover did not apply but did not disclose this to the customer, in good time before the sale was concluded, and in a way that was fair, clear and not misleading; or
Especially this clause
(11) sold the complainant a policy where the total cost of the policy (including any interest paid on the premium) would exceed the benefits payable under the policy (other than benefits payable under life cover); or

Okay I await the answers to my questions in the previous posting. Then we are going to very nicely point out on this point alone they have mis-sold. If they wish go to the FOS having clearly breached their own guidelines then on their heads be it.

N:cool:

nemo77

kelly993 wrote: »

Hi Nemo

On your letters did you specifically ask them to acknowledge receipt? If not then I would send them another letter by recorded delivery and ask them to confirm that they now have the correct details. I did this with EGG and it seemed to work.

Hi Kelly,

Thanks for the response - I did specifically ask them to confirm they had updated my details but that seems beyond them gggrrrrrrrr. I'll send another letter recorded delivery to them tomorrow.

I just fancied emailing the CEO and having a real moan at them. I'm not convinced it would help the situation but I'd feel a lot better (for a while anyway)!

Thanks!!!

syrbag

HSBC has upheld my two loans, can someone help me with calculations of my expected payout: Both were single premium loans added to pay for the ppi up front.

LOAN 1
Loan amount £11,821.05
PPI Premium £2,784.51
TOTAL LOAN: £14,604.56

Monthly Payment £243.00
Monthly PPI £46.32
APR 11.9%

April 2004-December 2005 (20 months) early settlement
Settlement Figure £8,569.26
Settlement PPI Rebate £907.43

LOAN 2
Loan amount £16,994.58
PPI Premium £3,601.68
TOTAL LOAN: £20,596.26

Monthly Payment £343.27
Monthly PPI £59.61
APR 6.9%

April 2006-July 2009 (40 months) early settlement
Settlement Figure £6,607.46
Settlement PPI Rebate £282.82

Please help with my expected payout, Thanks

syrbag

HSBC upheld my two loans, help with calculations
HSBC has upheld my two loans, can someone help me with calculations of my expected payout: Both were single premium loans added to pay for the ppi up front.

LOAN 1
Loan amount £11,821.05
PPI Premium £2,784.51
TOTAL LOAN: £14,604.56

Monthly Payment £243.00
Monthly PPI £46.32
APR 11.9%

April 2004-December 2005 (20 months) early settlement
Settlement Figure £8,569.26
Settlement PPI Rebate £907.43

LOAN 2
Loan amount £16,994.58
PPI Premium £3,601.68
TOTAL LOAN: £20,596.26

Monthly Payment £343.27
Monthly PPI £59.61
APR 6.9%

April 2006-July 2009 (40 months) early settlement
Settlement Figure £6,607.46
Settlement PPI Rebate £282.82

Please help with my expected payout, Thanks

Derwent

kaladin wrote: »

Hi There,

I was just wondering if anyone could do me a rough calculation on the following:

Original loan £21500 over 84 months. Taken out in Feb 2006
Monthly payment £420
Interest @ 7.53%

Many Thanks
Kaladin

You need to provide a little more info..

What was the PPI amount on the loan ?
Is the loan still running ? If not did you get a PPI rebate when it ended ?

mattyR

Hi all...great forum...only wish I'd found it before I submitted my claim!!

I have a few questions about a credit card PPI claim if someone would be good enough to offer help/advice please.

I submitted a claim for mis-sold PPI on my Barclaycard Visa at the beginning of May. I did the paperwork myself and not through a claim management company.

After several letters advising of delays I received a reply on 23rd August stating that my claim had been upheld due to them not being able to trace evidence of it being properly explained etc..the card was taken out 20 years ago almost!!

They made an offer which I was more than happy with and so I returned the acceptance letter.

Looking through here now I realise that I should probably have sent it Recorded Delivery so that I knew it got there....first mistake!!!

Should I be contacting them to make sure the letter arrived and is being actioned? Or should I leave it a little while? Do they send out a response letter saying they have received the acceptance as standard or do you just wait it out until the settlement arrives(I've asked for a transfer to bank account)?

Anybody had any recent settlements from Barclaycard and roughly how long from acceptance to payment?

Apologies for all the questions on my first post

Matt