PPI Reclaiming successes and failures

smitchy73

sunny8 wrote: »

Hey dude, just sent an email to the CEO ...here it is:

Dear Sir,

As you may be aware i placed a complaint with regards to mis selling of PPI several weeks ago.

My complaint was delegated to a colleague of yours - Carol Craig, who has swiftly and professionally dealt with my case. My case then was delegated to a PPI Team Manager : Gina Arthur who has also been most helpful and professional. These members of your company are a credit to you and your constituency.

However, i received a telephone call from Gina Arthur yesterday who politely explained to me that although i had several loans with yourselves, only the more recent loan could be considered - of which only ran for 12 months (2004-2005) due to your current Retention Policy.

As i explained to Gina, i am aware that i can obtain a Subject Access Request to obtain my details from yourselves , however, this should not be needed. I stated that i had all bank statements - to which i have previously paid for, which are proof of all loan repayments. I am bemused at why the team are unable to deal with my previous loans as this is a direct contravention of the FSA handbook;

"Assesing complaints
3.2.7 G The
firm should consider all of its sales of payment protection contracts to the
complainant in respect of re-financed loans that were rolled up into the loan
covered by the payment protection contract that is the subject of the complaint.
The firm should consider the cumulative financial impact on the complainant of
any previous breaches or failings in those sales."

As far as i can interpret from the FSA handbook FS10/36 all lenders - when a complaint has been received, should look into the customers history and check if there had been ppi on previous loans and to address these, also, and at the same time which prevents the staff from having to deal with several complaints when they can all be handled under the one complaint.

As stated before in my previous complaint - all loans were conducted in the same situation and same circumstances, therefore, i am compelled at how you can uphold one loan and not others.

It would be of the up-most benefit for both your staff and myself if you could arrange for the loans to be dealt with collaboratively.

I look forward to your response within 7 days, however, if this is not obtainable, i will seek advice from the FSA.

Kind regards


Thanks bud:j:j....what do you think? :j:j xx

Looks good to me, see what the other 'experts' say!:D

trish22_2

ooh_matron wrote: »

Speechless!!! well done

OMG congratulations on your massive payout:j
I have had an outstanding bill on my credit card of £12000 plus for the last 4 years it was about £8000 for a few years before that,and i was expecting about £5 grand back,still waiting for my figures to come back(am in my third week of waiting with Lloyds tsb)so maybe i may get a little bit more than i was expecting,had my card since jan 2002.

:j:j:jCongrats to all who have had uphelds:beer:

smitchy73

hunnyluvinbear wrote: »

Whooooo Hoooooo!
Just got a letter from MBNA re hubby's CC PPI. UPHELD!!!!:j
To the sum of...wait for it.....£33'273.03 !!!:beer::T:rotfl:

And my reward for doing all the paperwork for him???

A shiny Red Sports car will be coming my way!!

(I'll post figures later when I've picked myself up off the floor!)

Thank you all so very, very much for all your advice posted on here.
You guys are all wonderful. :A:money:

Hunny thats a fantastic result, absolutely brilliant, I hope you get your name in martins email next week:j:j:j

Niggly_2

RosieBrock wrote: »

Hi Niggly- I got a goodwill offer from RBS which I accepted, but am concerned that they have loaded their calculations in their favour. You helped me calculate what they might owe for a coerced telephone PPI missell.

Loan was Sept 2006 originally five years, £25,000 6.3% interest.

I paid whole loan off 18 months later.

I was paying £595.86 including PPI with PPI loaded up front (not a one off however).
PPI per month was £109.

At settlement I paid £20,323.85 pence on top.

Their offer (not yet paid) was £4782 made up of "refunds of premiums paid plus interest amount of £3785 plus statutory and stay interest of £997.

You thought they might owe me in the region of £7000.

But its good news isn;t it anyway. I don;t mind going back to say they have miscalculated if I can offer facts and figures.

Thanks so much for your help.

Hooray for Niggly.

:j:j:j:beer::money:

I would need to see the figs again to assess if there offer is fair.

N:beer:

smitchy73

bhoqoN wrote: »

To the lovely forum,

I have a bit a silly question here, Barclays have stated in their offer letter that they will:

Pay the full PPI premium
The interest charged on the premium
8% per annum simple interest
one of the loans had PPI paid for 3 years and the APR of the loan was 10.9%, does this mean that 10.9 will be applied to total PPI premiums paid per year/ i.e. 10.9% per year times the total paid for towards PPI per year?

Thanks for all your help.

Hi bhoqoN,
No, your ppi amount quoted usually includes the interest, so you would get those returned, plus 8% interest added to each months payment from when these were paid. So for instance if your ppi amount including interest was £50 per month, then you'd be due £50 x 36 as the amount of ppi paid, add to this £50 x 8%/12 x 36 for the 1st month, then £50 x 8%/12 x 35 for the next month and so on.
You could use the bank charges calculator on the reclaim section, you put in the date of the charge to your account, and your monthly ppi amount, and it'll work them out for you on to a list and you can print or save it.
Hope this helps:D

bhoqoN

smitchy73 wrote: »

Hi bhoqoN,
No, your ppi amount quoted usually includes the interest, so you would get those returned, plus 8% interest added to each months payment from when these were paid. So for instance if your ppi amount including interest was £50 per month, then you'd be due £50 x 36 as the amount of ppi paid, add to this £50 x 8%/12 x 36 for the 1st month, then £50 x 8%/12 x 35 for the next month and so on.
You could use the bank charges calculator on the reclaim section, you put in the date of the charge to your account, and your monthly ppi amount, and it'll work them out for you on to a list and you can print or save it.
Hope this helps:D

Hi smitchy73,

Thank for your prompt response. I was trying to make sense of a figure given by Barclays 3 consolidated loans (without any working of how they arrived at it). Very useful infor you have given there. Thanks once again!

hunnyluvinbear

trish22 wrote: »

OMG congratulations on your massive payout:j
I have had an outstanding bill on my credit card of £12000 plus for the last 4 years it was about £8000 for a few years before that,and i was expecting about £5 grand back,still waiting for my figures to come back(am in my third week of waiting with Lloyds tsb)so maybe i may get a little bit more than i was expecting,had my card since jan 2002.

Trish, I hope your claim is successful too, and quickly.

Hubby first had his card in early 90's which is why the payout is so big. He very quickly ran it up to it's limit, and it stayed there ever since! :embarasse So we'll be so glad to get rid of this large monthly outlay.
Needless to say, we haven't stopped smiling since reading the letter.:dance:

smitchy73

bhoqoN wrote: »

Hi smitchy73,

Thank for your prompt response. I was trying to make sense of a figure given by Barclays 3 consolidated loans (without any working of how they arrived at it). Very useful infor you have given there. Thanks once again!

Amendment to my calculations use this to work them out
1st month interest £50 x 8% x 36/12, the £50 x 8% x 35/12 etc etc
or as mentioned in original post use the bank charges calculator:D

smitchy73

bhoqoN wrote: »

Hi smitchy73,

Thank for your prompt response. I was trying to make sense of a figure given by Barclays 3 consolidated loans (without any working of how they arrived at it). Very useful infor you have given there. Thanks once again!

Sorry missed a bit again, doh! You say three consolidated loans?
The interest payment i've talked about should be the very least you should get, but when one is settled part of the ppi is rebated to you but the rest is carried over on to the next loan and so forth, so there should be more to get than just what you've paid in monthly payments. phew!

dilus

smitchy73 wrote: »

or as mentioned in original post use the bank charges calculator:D

I can't find this calculator anywhere, even doing a search of the whole site and forum! Do you have a link smitchy73 ?