PPI Reclaiming successes and failures

bhoqoN

THenry1 wrote: »

Thanks bhoqoN

Is it likely that Natwest will tell Key Financial Claims about the rest of my offers?

THenry,

i do not think so. I would not worry about it - till issues arise. Enjoy your money!

fifi123_2

sands02 wrote: »

Good Morning All
:T:T:T:T:T:T:T:TCongratulations to all winners:T:T:T:T:T:T

Just received letter from Lloyds for Credit Card offer £10366.79 to be paid direct in to my current account

Calculations:
Difference between the actual and revised balance £10,144.13
Credit Interest at 8% per annum simple 222.66

TOTAL £10,366.79

Does this sound correct


Annual interest rate being charged on this card is 19.40%
card goes back to 1999 ( PPi cancelled 1 year ago - advised by financial adviser at the bank as my balance wasnt reducing and I didnt need it anyway!!!! ) :mad::mad: I still have a balance of £7369
I phoned them this morning and the guy said this is the amount that will be paid to my account and not to my credit card as long as I'm not over my credit card limit (which I'm not - limit is £8000) so I presume that I have to pay off my card with this payment

thanks in advance

Hi Sands
I feel I'm in the same situation as you, they are giving you the refund but you've still got an outstanding amount of £7369. If they had cleared the card for you, you would also have had £2300 ish back as well. My outstanding bill on my c.c. is £4600 but they restructed it to show a balance outstanding of £1k and paid me back £3600, but I still owe them £4600. I can't get my head round it?? . Well done on your win tho :T:T xx

allofushere

Craig191 wrote: »

Hi Everyone

Been reading the forum for a while now as a relation posts on here regular but this is my first post. Sent my signed acceptance form back to Lloyds on 25/8/2011 heard nothing to date!!!! Have just fired an email off to their customer care address outlining the delay and that I have card statements from 2002 and am willing to supply them (lol) and will be requiring a full breakdown of payments,interests and simple interests included in their offer for a independent finacial review before any acceptance is made.

Let the games begin.

Hi Craig191

My LTSB circumstance seem pretty close to yours, card taken out 2002, balance of anywhere up to 9k at all times. I returned my acceptance last Friday. I ll be interested to hear your offer!

sands02

fifi123 wrote: »

Hi Sands
I feel I'm in the same situation as you, they are giving you the refund but you've still got an outstanding amount of £7369. If they had cleared the card for you, you would also have had £2300 ish back as well. My outstanding bill on my c.c. is £4600 but they restructed it to show a balance outstanding of £1k and paid me back £3600, but I still owe them £4600. I can't get my head round it?? . Well done on your win tho :T:T xx

Hi Fifi
Doesn't seem right does it!!! my card has been going since 1999 and they have based their calculations back to that time Wouldn't give me the calculations so I could see how they calculated it!!!! I've e-mailed them as this month alone my phone bill has went up £20 phoning them!!!

:T:T:Congratulations on your win xx

oorbrian

bhoqoN wrote: »

THenry,

i do not think so. I would not worry about it - till issues arise. Enjoy your money!

Hi bhoqoN,
I too am (stupidly i now know through this site) with that company!
I have had 3 loans and a cc upheld via the FOS. All were with RBS. I am hoping that RBS do the chain thing with me as my first claim was 2001 and last 2008 and still running. I have claimed for another loan in the middle but think i missed two as i lost paperwork. You give me hope that they will use the chain consolidation link.

I will only give CMC their 29.5% on the claims they worked on as any other did not involve any work( the little that needs done) from them.
I would keep all and enjoy if i was you!!!

Best wishes to all successes and good luck to all waiting:beer::money::money::T:T:T

sands02

sands02 wrote: »

Good Morning All
:T:T:T:T:T:T:T:TCongratulations to all winners:T:T:T:T:T:T

Just received letter from Lloyds for Credit Card offer £10366.79 to be paid direct in to my current account

Calculations:
Difference between the actual and revised balance £10,144.13
Credit Interest at 8% per annum simple 222.66

TOTAL £10,366.79

Does this sound correct


Annual interest rate being charged on this card is 19.40%
card goes back to 1999 ( PPi cancelled 1 year ago - advised by financial adviser at the bank as my balance wasnt reducing and I didnt need it anyway!!!! ) :mad::mad: I still have a balance of £7369
I phoned them this morning and the guy said this is the amount that will be paid to my account and not to my credit card as long as I'm not over my credit card limit (which I'm not - limit is £8000) so I presume that I have to pay off my card with this payment

thanks in advance

Just received following figures by e-mail (My god that was quick only sent it to Ms Barry 2 hours ago!!!!)
Actual Balance
£7,299.70

Reconstructed Balance
-£2,844.43

Difference between Actual and Reconstructed Balances
£10,144.13
8% Simple Interest for any months in Credit
£155.03
8% Simple Interest from Date Account Closed to Refund Date
£67.63
Total Redress
£10,366.79

Total amount of PPI Premiums Paid
£4,218.47

Calculation Start Date
Dec-99

Data Start Date
Sep-04

Account Closed Date
Sep-11

Refund Date -Also says my responsibility to pay off my cc debt
Oct-11

PPI Cancelled Date
May-10

Average Monthly Interest Rate
1.65%

smitchy73

sands02 wrote: »

Good Morning All
:T:T:T:T:T:T:T:TCongratulations to all winners:T:T:T:T:T:T

Just received letter from Lloyds for Credit Card offer £10366.79 to be paid direct in to my current account

Calculations:
Difference between the actual and revised balance £10,144.13
Credit Interest at 8% per annum simple 222.66

TOTAL £10,366.79

Does this sound correct


Annual interest rate being charged on this card is 19.40%
card goes back to 1999 ( PPi cancelled 1 year ago - advised by financial adviser at the bank as my balance wasnt reducing and I didnt need it anyway!!!! ) :mad::mad: I still have a balance of £7369
I phoned them this morning and the guy said this is the amount that will be paid to my account and not to my credit card as long as I'm not over my credit card limit (which I'm not - limit is £8000) so I presume that I have to pay off my card with this payment

thanks in advance

First of all congratulations on your win. Well done.

Without knowing what your ppi charges were for each month, it's hard to be able to work out precisely what you're due, assuming they have access to your whole history of statements then it should be correct, or they can only go back to 6 years worth of statements and then they have to average it out for the previous years.

The banks can't win though, reading these forums for over the past year, if they return it to you when you win, some people moan, if they pay off your balance and give you whats left some people moan.(Not you personally)

If they refund it to you directly you can do with as you please, my advice is to get rid of the card and it's balance, or certainly reduce the limit.

To work it out they have to take off each months ppi charge and any associated interest with it and basically restructure your whole card history, so when they form two lists, one with ppi and one without, this is the difference that they are paying you, if when they are removing the ppi, your account goes in to credit(they owe you money) then they have to pay the 8% simple interest to you, your redress should include the interest at the card rate.

If they refuse to give you a breakdown of the redress, phone the FSA, NOT Ombudsman, and ask for their assistance or advice in regards to this, they should give you a breakdown, after all they will have it and should be giving it to you, it's not hard to lump it on a spredsheet and email it to you! numpties the lot of them so they are.:D
Hope this helps a wee bit.:D

smitchy73

sands02 wrote: »

Just received following figures by e-mail (My god that was quick only sent it to Ms Barry 2 hours ago!!!!)
Actual Balance
£7,299.70

Reconstructed Balance
-£2,844.43

Difference between Actual and Reconstructed Balances
£10,144.13
8% Simple Interest for any months in Credit
£155.03
8% Simple Interest from Date Account Closed to Refund Date
£67.63
Total Redress
£10,366.79

Total amount of PPI Premiums Paid
£4,218.47

Calculation Start Date
Dec-99

Data Start Date
Sep-04

Account Closed Date
Sep-11

Refund Date -Also says my responsibility to pay off my cc debt
Oct-11

PPI Cancelled Date
May-10

Average Monthly Interest Rate
1.65%

Hiya,

It works out at roughly £31 pm ppi with their figures of ppi premiums paid, and giving you interest of approximately £46 per month on top of your premiums, if you have statements you should know if this is correct or not, and if you don't have proof to challenge it then in my honest opinion it's worth accepting and enjoy paying off the balance and wondering what to spend £2.5k on:D

Well done again:j

keets

Hi guys,

Long time reader of this thread and thought Id post my experiences and hopefully gain some much needed advice.

I started two PPI claims 16 weeks ago, one from Natwest the other HSBC.

Two weeks ago i received a letter from Natwest making an offer of £1,151.37 from the period November 2003 - October 2009 I was happy with this offer and if anything a little more than expected.

This now brings me onto the HSBC offer which I received this morning (the last day of the 16 week deadline) the offer is for £872.54 which is from March 2005 - October 2007. Ive checked my credit report and the credit card was opened in October 2003 unfortunately I don't have the old statements to prove PPI was being paid and the letter states

'In line with HSBC procedures we are only able to produce statements on your account for the last six years'.

'Should you be able to provide evidence in form of statements showing PPI on your account for the period prior to this please forward the evidence for my consideration'

I find it very annoying that Natwest will go back to 2003 and HSBC wont. Does anyone have any advice as to how I could reclaim form 2003 ?

Kind regards

sands02

smitchy73 wrote: »

First of all congratulations on your win. Well done.

Without knowing what your ppi charges were for each month, it's hard to be able to work out precisely what you're due, assuming they have access to your whole history of statements then it should be correct, or they can only go back to 6 years worth of statements and then they have to average it out for the previous years.

The banks can't win though, reading these forums for over the past year, if they return it to you when you win, some people moan, if they pay off your balance and give you whats left some people moan.(Not you personally)

If they refund it to you directly you can do with as you please, my advice is to get rid of the card and it's balance, or certainly reduce the limit.

To work it out they have to take off each months ppi charge and any associated interest with it and basically restructure your whole card history, so when they form two lists, one with ppi and one without, this is the difference that they are paying you, if when they are removing the ppi, your account goes in to credit(they owe you money) then they have to pay the 8% simple interest to you, your redress should include the interest at the card rate.

If they refuse to give you a breakdown of the redress, phone the FSA, NOT Ombudsman, and ask for their assistance or advice in regards to this, they should give you a breakdown, after all they will have it and should be giving it to you, it's not hard to lump it on a spredsheet and email it to you! numpties the lot of them so they are.:D
Hope this helps a wee bit.:D

Thanks for your reply smitchy I have reposted above.....Yes I want a balance of £0.00 as soon as possible, when you see it in black and white it's shocking to be owing that kind of money!!!! It's been a long hard slog trying to pay it off aswell !!! I will definately NEVER be in this mess again and will not be so gullable when it comes to the banks!!!;););););)