PPI Reclaiming successes and failures

di3004

oorbrian wrote: »

:j:j:j
Full of it today:T
Another question i have!!
Some of my loans were in joint names and the FOS wrote to ask my OH for her permission to proceed. Do they ( RBS) need to inform her re any refund that she has signed the loan as joint for ( if you know what i mean) If so they have not as all are in my name on claim breakdown. She is over the moon about the amount but wonders if there is more to come for loans which she was a joint signatory. Surely they would inform both parties of a joint loan just in case they were not an item anymore and one was trying to take the money!!!:(
Also do banks keep the same PPI reference number throughout the process from claim to payment?
If so all the ones i received today do not correspond to the letters i have from PPI correspondance from RBS via CMC

Hi there

With our reclaims, when there has been joint loans, we have made the reclaim complaints together where both signed, I could be wrong but if the 2nd applicant have not signed they will ask for permission, because both were still responsible for the loan, where ppi was mainly to cover the first person, yet the 2nd applicant would not be protected, yet still responsible for the ppi as its in with the full loan balance.

I understand there should be a different claim number for each loan, as they should be treated separately. Unless someone can clarify on this one.

Not sure how it works if used a CMC, but I would otherwise contact them.
Good luck.:beer:

di3004

allofushere wrote: »

Just got off phone with customer services and they told me that the £2437.58 was purely my total premiums paid. I was under the impression they had to pay interest due to the premiums increasing my card balance. Am I wrong???? Any help would be appreciated.

Hi

Well done on your success!:beer:

I know it works different to that of credit card ppi to loan ppi, but I'm sure one of them will be along to check this out for you.;)

di3004

spendingmad wrote: »

Hi All!

Had a letter today from firstplus (after only one letter to them) £6,500 being paid off the balance of our loan and £2500 being paid by cheque to us direct for the 8% interest - we already had the 'cashback' for the PPI which was part of the policy 3 years ago. We are very very happy! Our loan repayment also goes down £110 per month so in a few days we will ring them and ask what effect it will to the length of the loan if we keep our current payments.

Thanks Martin and everyone else for making this possible!! xxxxx

Wonderful!:T Congratulations!:beer:

di3004

spaniellover wrote: »

Hi
Sent my complant letter and the FOS form as requested on their internet page. Received one letter confirming they had received it and then another beginning of July stating they would follow up my complaint as quickly as possibble etc. Also received a letter end of June stating my complaint would be dealt with no later than 26th of August, waited until then having faith and nothing. Rang them and they said it was a mistake, further follow up letters were meant to be sent informing me of our progress but nothing and phone calls are completely unhelpful.

Hi

Have you contacted the CEO of the business, make them aware your not happy with waiting more than the timescale given, as they've already been given extra time by the FSA, and that you are considering contacting the FSA in relation of this matter, keep at them and good luck.;)

di3004

sunshinesquirrel wrote: »

Hi all

I wrote to Mint on 7th June to start a claim for PPI on a Mint Loan. Got a letter from them this morning offering me £3,796.55 and I am absolutely thrilled to bits!

So, I would just like to thank everyone on this site/forum which encouraged me to do it! I never thought for a minute that I would get anything back cos things like that don't happen to folk like me!!!!

Thanks again guys

Absolutely Fab!:T Congratulations!:beer:

Craig191

di3004 wrote: »

Well done on your success!:beer:

Did it give any details of how they are refunding this on the letter you received?

It may differ, but if they've not given you details, I would contact them and ask them first so you know what is what, good luck.;)

Thanks diz.
It simply state the difference between actual and revised balance of £5300. The bout £100 in simple interest. Seems like Lloyds aren't paying the card interest, hopefully this amount will come from my card balance then to my pocket,cause it wouldn't be fair 2 give u it with 1 hand and demand it back still on your card.

Thanks everyone

di3004

Craig191 wrote: »

Thanks diz.
It simply state the difference between actual and revised balance of £5300. The bout £100 in simple interest. Seems like Lloyds aren't paying the card interest, hopefully this amount will come from my card balance then to my pocket,cause it wouldn't be fair 2 give u it with 1 hand and demand it back still on your card.

Thanks everyone

With a bit of luck Niggly, Ian maybe Tifosi will be along and know more about this one, but yes good point made Craig.

The way I see it, the money should come back to you, you have already been deprived of it once and its like paying for it all over again.
If they expect this, maybe you could write and ask them to consider refunding you directly as you wish to choose to pay what you want out of your own money, for example, you may have a debt elsewhere more important that the credit card and that money will help you.
No harm in asking. x;)

allofushere

Craig191 wrote: »

Thanks diz.
It simply state the difference between actual and revised balance of £5300. The bout £100 in simple interest. Seems like Lloyds aren't paying the card interest, hopefully this amount will come from my card balance then to my pocket,cause it wouldn't be fair 2 give u it with 1 hand and demand it back still on your card.

Thanks everyone

hi I had my offer today and i dont think i have received any interest either. Are you going to complain further?

Banks0mewin

An Ode to PPI.


I paid my dues and my PPI,
I decided to reclaim eye for an eye,
I filled the forms, I sent them off,
4 weeks later they respond in a huff,
They replied as if they cared,
‘Looking into it’ they said they would,
Some more months pass by and not a word,
I ring and ring as they said I could,
They answer that it’s been referred,
With no outcome yet to be heard,
6 months or more since I first complained,
I call them again and nothing but pain,
I still not got my money and I wonder why,
Oh this bloody PPI!


:cool::cool::cool::cool::cool::cool::cool::cool:

djf1968

Derwent wrote: »

The reason is that they are now charging you interest on interest.

By restructuring, the interest on the original loan now becomes part of the principal amount on the new loan and they charge you interest on the whole amount.

So Loan 1 was principal + interest.

But Loan 2 becomes (principal + interest) + interest.

Banks love restructured loans !

Many thanks for this info. It did seem like this is what they were doing, and at the end of the day, if this is how loan restructuring works, then so be it as it was my decision to do it this way rather than pay off the loan.

However, my earlier question still remains, was the 'outstanding loan balance' of appx £14280 correct or were my calcs which brought the loan balance (without PPI) down to £12.4k more likely to be correct?

I have no issue with the restructuring of the loan adding interest on, but what I want to be clearer on is the original balance of the loan before that happens. Again, if there is anyone who can look at my earlier post and help with the calcs that would be great. Thinking of giving them a call on this anyway to clear it up, even if it is just for my own peace of mind.

Thanks again

Dave