PPI Reclaiming successes and failures

Red_peppers

nutty_nat wrote: »

:T:T:T:T:):):):D:D:D

Ahhh thanks for that hun, I still can't believe it they had £21,000 of ppi from me and I re-mortgaged 12 months later and run away from them as quick as I could so the loan was paid up in May 2007. I will post my offer up on here when I receive it I may not get it until the end of the week you know what the post can be like. My son is seventeen in October and I wanted to be able to buy him a car so a least I can do that now instead of sharing mine.
Anyway less of me and more about you, we will get your money back I just proved you can do it. It may take a little longer but you will get there in the end

You can get a lot of car for that money...just make sure you spend some on yourself and enjoy it

I'm posting my letter and email tomorrow, it might all be sorted for the weekend!! LOL :rotfl::rotfl:

klflosser

timtheexprop wrote: »

Hi ther. Result. Got an offer from OPUS offering £1573 for PPI on my credit card. The question is, do I accept this, I've no idea if it's correct. Do I ask for the working out of the offer? What does anyone suggest?

Well done. When did you put yur complaint in? I have one waiting that was CitiFinancial, then became Opus. Put on hold due to JR and not a peep since.

amersall

Dizzywytch wrote: »

Exactly the same. The only difference on the questionaires I have sent is the card name and number.

and both letters from them are from the same person - Gail Powell (vice president)

Get back in touch and ask why the results are different on these cards,when the reasons were the same,ask how they can uphold one and not the other.

djf1968

:T Hi all, just thought I would share my recent good news with you and at the same time perhaps get some advice on what I should do, if it is ok to ask a question here???

I have today received a very nice letter from HSBC in respect to my claim for misselling PPI on a personal loan. They also identified two older loans, which I had completely forgotten about and have included them in their offer.

So, in summary they are offering a total of £14,330.40 but they are actually saying that they will use this to write off the outstanding amount of the loan after PPI has been redressed (which is calculated at 14,287.14) leaving me with a total offer of £43.26.

So, this would mean no more loan payments of £435.75 a month, however, I do have CCs that have an interest of 19.9% and am thinking that it may be more economically viable for me to request they send me the £14,330.40 to use to pay off these (and have a nice little lump sum left over :beer:) and keep the loan running as it is at 6.5% only, with I assume a fairly reduced monthly repayment seeing as the PPI portion was £99.83 a month.

Firstly, does this sound like good sense? I could not pay off the CCs in 39 months (which is how long is left on the loan) even with the extra money I would have from not paying the loan anymore.

Secondly, do I have a choice in the matter or is it a case of acceptIng thier offer, or rejecting it and going through the lengthy process of getting the Ombudsman involved?

Any advice you can offer on this would be much appreciated. Either way I am really happy at the outcome, not too painful a process for those reading this and considering reclaiming for the first time. I wrote off in May, received a 4 week letter, no 'as promised' 8 week letter, but then a letter today with this offer!!

:j Many thanks to all for the already useful advice given on here, it helped a lot and I hope it helps others too.

Dave

Dizzywithmoney

nutty_nat wrote: »

:j:beer::j:beer::j:beer::j:beer::j:beer:

OMG!! OMG!!

I had a phonecall from Firstplus this morning my complaint is being upheld. My goodwill offer was done yesterday and is being posted to me today firstclass. I said to the lady that called me is the offer what I a thinking it will be and she told me you won't be dissapointed.

I will post my offer up here when I receive it so the experts can look over it.

Big thanks along my journey go to Di, Amersall, Niggly, Red Peppers, Dizzy with Money and Conkerlily the support and advice you have given has been much appreciated.:A:A:A:A:A:A

:j:beer::j:beer::j:beer::j:beer::j:beer:

Congratulations you will be excited now waiting to hear what they are offering you!!! Have you any thoughts on what you might spend the money on?

Dizzywithmoney

Help please - very confused on behalf of my son.

On 20/8/11 my son (if you remember I posted on here I had to nag him to claim his PPI back on the loan that I had been a guarantor for) my son received an offer letter from Black Horse basically stating that they would pay off the arrears of his loan and send him back around £2500. Well he still hasnt received any of this money and still getting letters stating that he is in arrears. When another letter came for him to my address (where he lived when he very first took out the loan several years ago) stating that they (Black Horse) had been notified by the Financial Ombudsman Service (he never contacted the FOS at all) that he had accepted their offer to settle his complaint regarding the sale of payment protection policy for this loan. Now this is a lot lot less than what it stated in the original letter and today a cheque arrived, payable to me (with the wrong initials on I would add) for just £299.84 now this is a lot less than the £2500 he was originally told he would get back. This last letter was dated 31st August but it only arrived on Friday, 8th September. But it does puzzle me as on the back it states as follows:

Total sums paid by you towards cost of policy* £698.04
Refund already given of sums paid towards your policy LESS £000.00
Benefits received due to a successful claim on policy LESS £000.00
Arrears under the first schedule (loan element) of the agreement LESS £1997.13
SUB TOTAL £000.00
8% statutory interst PLUS £99.84
Distress & inconvenience payment £200.00
TOTAL REDRESS DUE £299.84

*Please note that the figure represents the sums that you have paid towards the cost of the policy including the monthly added interest that you have paid on the cost of the policy and any payments that you made towards the policy after it had been terminated. If you have made payments that were less than the full instalment that was due under the agreement, the payment received has been proportioned in line with the split between the loan and insurance elements of the agreement.
NB Whilst the agreement has been credited with the cost of the policy, we have only included in the redress payment the sums you have actually paid towards the policy. The remaineder of the cost is deducted from the balance of the agreement. (I wish they would put things in plain English so that us "normal" people could understand.)

The cheque received today (in my name) was labelled as overpayment.

We are really confused, even so with the fact that he never contacted the FOS. Do you think this is an extra amount on what they have originally offered him or can they change thier mind, he hasnt received anything else yet either via cheque or direct into his bank, which he requested.

Well before he started this claim he tried to cancel the PPI which they had put on the account, but they didnt cancel it for ages and it took months and months for them to do this. Therefore I am wondering (maybe cluthcing at straws) if this cheque which arrived today is just for the 8% they should have paid him for this amount (which I think he had back when they finally cancelled it) when it was cancelled.

We are so confused and my son is not happy, especially in the fact that he thought he was getting £2500 back. Could anyone shed any light on this please.

amersall

Hi Dizzy,i would get your son to give them a ring and ask them to explain what they have done.
It looks to me like they have sent you the 8% and distress payment,so i would assume the refund is on its way.

Dizzywithmoney

amersall wrote: »

Hi Dizzy,i would get your son to give them a ring and ask them to explain what they have done.
It looks to me like they have sent you the 8% and distress payment,so i would assume the refund is on its way.

Thanks Amersall - yes he is going to ring them. Another strange thing about it all is the fact that the original offer went to him and his address but the letter stating he was getting the £299 payment came addressed to him at this address (his parent's, he lives in the midlands and we live nearly 2 hours drive away) and the cheque addressed to me (well the initials are sort of wrong they have added a middle one that I have never had!! So I am hoping my bank will accept this) and my address. Its all very strange.

Do you think they can go back on their original offer at all? Have any of the banks actually done this does anyone know?

di3004

thegaffer wrote: »

For those that have had success with Lloyds, does your PPI refund get puit on your card (if its still active and is not in credit) or do they just put into your bank ? As the letter asked for my bank details, so am just curious.

I sem to remember there was a box you could tick ont he form saying if you wanted the payment not to be paid on the card ?

Does anyone know what is the norm ?

Thanks in advance

Hiya

From what I can recall, via Lloyds, on the settled account they refunded that directly to me, my hubby had an active and settled accounts, so received a cheque for the settled one, and I think they refunded towards the balance on the active account, yet the interest of that active card they did send a cheque.

Hope this helps.;):beer: Well done!

di3004

yoemma wrote: »

good afternoon all, i have been a long time lurker but thought i would share some good news, i have been successful with my bank of scotland reclaim and i am expecting a cheque for £1,316.51 for mis-sold PPI on a number of small loans. to say i'm over the moon is an understatement. just waiting to hear back from MBNA on a virgin credit card (deadline 20th September) and RBS (the ball has just started rolling with this one so they have said they will send an initial reply within the next week).

a big thank you to all the knowledgeable folk who post on this board! xxxx

That is so fab! :T Congratulations!:beer: