PPI Reclaiming successes and failures

amersall

R19SKY wrote: »

Hi there everyone, I have waited 20 weeks for a response from HFC and it finally came today but its not what I expected.

It was a re-finance loan from my husbands youth. Started in 2001 paid off 2006. Started at £3000 - finished at £27.500.

Anyway it was a constant re-finance loan when you look back the figures are frightening - all he did was re-finance to pay back the horrendous interest and a very small amount for himself - it was always front loaded ppi plus interest and that at times was 28.8%

Its a very confusing/complicated loan with regards to the premiums paid etc as he re-financed every year or so but there are 7 loans in total.

The figures we got in the offer are as follows:

PAID PPI Premiums and interest thereon £1594.19
8% compensation on PPI payments made £755.71
Excess payments made from Previous accounts £717.34
8% compensation on excess payments made £305.34

Total £3,372.58

Now i just dont think this is enough - I am not being greedy but how can the premiums on up to £27,500 only be the top line and are they not suppose to give us the compound interest back that was charged at the time - our other lender RBS have done this?

My other problem is that they are only going back till July 2004 as they state that they have securely destroyed all paperwork prior to this as but how can this be when this was a constant re-finance loan that paid their loan off each time? I also have all the paperwork since the original loan - can I still claim back to the beginning with this evidence?

I would appreciate any advice Its so fab on here and I know there has been little feedback on HFC - so its best to get all info out there!!

They say this is their final response - what do you all think?

thanks in advance!

Hi there, send them the paperwork you have pre 2004 and ask them to reconsider.

Just to let you know,when you refinance a loan,the ppi will have been rebated ,the remaining ppi is carried over to the next loan and so it goes.

With refinancing,the loans do not run to term end,so you will have been given the rebates of ppi each time,when you win mis sell they take back the rebates they have given you.

Ask them to clarify how the redress was worked out,then you can see what they have done.

You will have had the FOS redress and the calculations SHOULD be correct :rotfl:

amersall

toytony wrote: »

Hi all

Got some good news ... after weeks of waiting for any kind of letter I phoned HSBC to find out what is going on, and the reason why they didn't respond was it was with the FOC.. but the !!!!!GREAT!!!! news is they have upheld the complaint and will be paying me back…..

Then got the letter from the FOS saying that HSBC will be making a “good will payment” and will take no blame for the complaint ... it goes on to say the payment will be in line with the FOS rules.

But I now have to wait for 2 weeks by the FOS to accept the payment terms, then I have to wait to hear from HSBC to make the calculations

The Questions I have are :

1) Will I get the PPI back in full and the 8% interest as I have paid over £6000 in PPI over the last 8 years .. or will they try and give me a smaller amount as a "good will offer"??
You will get the correct redress.
2) Is there any way to speed up the 2 weeks wait and HSBC wait as I have been waiting now over a year...
You could give FOS a ring and see what they say.
Can I ring up the FOS to say I accepted now ?
Also can I ring up HSBC to start them off on the calculations.
HSBC may not deal with you,as FOS are in charge of your claim.

Any help would be great ... always have this feeling that even thou I won I will end up losing!!!!

R19SKY

Thanks for the reply Amersall - I did sort of notice this so I would say this was correct in part but they are only refunding 2 years worth instead of 4. Can we pursue prior to 6 years or is it just up to the lender also what about the compound interest is that also what we are entitled to or just your luck - don't want to push it if im wrong!!

thanks again

amersall

webbo18 wrote: »

Hi All
Been reading all these stories about reclaiming ppi, so made a claim against first plus for a loan that was taken out in 2001 and closed in 2008. They have rejected the claim because they used a broker for the ppi, and because the broker was not a member of the FSA at that time they are not responsible, also they are claiming the claim is now time barred. any advise welcome please.

Hi there, give FOS a ring and ask if you can go the insurer route,they may have been regulated at the time,ask about the time barr while you are on the phone with them.

amersall

gary_909 wrote: »

I hope im in the right area I have just won a claim against MBNA for a loan I had for £7000 they have sent me a cheque for £1351.56p this includes ppi premiums and associated interest of £834.66 and 8% interest of £508.22p .The loan run from October 2001 to October 2004 and I payed about £262 a month is this amount I have recieved correct or is it a little short I would be grateful if someone could work out the figures and see if this is the right amount

Hi there, you need to post the total ppi amount,the term and the ppi monthly amount.

smitchy73

citibird27 wrote: »

Help please!!!!

I received a letter from Barclaycard saying that they are unable to locate me on their customer records...and therefore won't uphold my claim!

Unless ( they say) I can produce the policy document or policy number, they won't reopen my case...this is for a card I have had for years...and paid PPI on until May this year.

Any suggestions, guys...this just seems out of order!


Thank you,

Citibird x

Hi citibird,
Don't think you'll find a policy document or ppi policy number, but if you have some statements with the ppi money being charged to you, I think that should be enough, certainly i've never received any policies or policy numbers for any that i've had from RBS/Clydesdale/Bank of Scotland. Most I ever had was an A4 sheet with details of how to make a claim, or exclusions or a leaflet.
Hope this helps:D

Scotty1.7

Scotty1.7 wrote: »

well surprise surprise- another update

MBNA- No sign of the letter or any cheque- and they have gone silent on the e-mails as well

Co-Op- Change of communications AGAIN now seems that no letter has been sent, no details are present and they are extending everyone of there outstanding PPI complaints by 12 weeks!!!! Really getting annoyed at them know- so much for there 'mythical' great customer service

Welcome and RBS same as before

Going to have to ring MBNA and Co-Op again tomorrow

Beeter update now

MBNA- Just waiting for the Cheque for this

Co-Op- It has been upheld and I'm just waiting for a letter to send back the acceptence details for it to be paid (within 20 days though)

Welcome- It has been upheld and has been authorised so payment will be made shortly(No Value yet)

RBS- Nothing from them yet re any details so I'll Give them a nudge Tomorrow

citibird27

amersall wrote: »

Did you use the card number?,this is usually all you need.

Thanks Amersall...yes I did...and of course, I have no idea whether or not I kept the policy, but I suspect not.

I think the card dates back well before 2006..but when I asked for T&Cs...there was no original agreement...and in the SAR, nothing to do with my cards...which I thought odd..

Am really cross, this could be another tactic from our beloved banks...:mad:

(Oh, and trying to get to speak to a member of the complaints team is impossible...!

Citibird x

citibird27

smitchy73 wrote: »

Hi citibird,
Don't think you'll find a policy document or ppi policy number, but if you have some statements with the ppi money being charged to you, I think that should be enough, certainly i've never received any policies or policy numbers for any that i've had from RBS/Clydesdale/Bank of Scotland. Most I ever had was an A4 sheet with details of how to make a claim, or exclusions or a leaflet.
Hope this helps:D

Thanks, smitchy...will try..

I certainly didn't expect this..am getting regular statments!

Just makes me furious!!:mad:

Citibird x

hunnyluvinbear

Flippin 'eck! The Email to Mr Hester (Natwest) might have had the desired effect! Just had a response from one of his 'Bods' saying that they have put my (well, hubby's actually) complaint in the hands of a manager in the PPI team, and has aked that he be kept informed of the response. Fingers crossed it's quick and is the right result.
Bear