PPI Reclaiming successes and failures

The_Marksman

milkeyedmender wrote: »

Hi all, had my offer letter from Lloydstsb offering me £6003.46 from PPI on my credit card ive had with them since 2002. The offer is £5941.08 which is just the PPi premiums and £62.38 8% simple interest. I wondered if anybody could advise if they should be paying interest associated with the PPi premium as well, as Lloyds have said they do not have to and they are refunding according to the FSA guidelines. Many thanks in advance. :A

RESULT :rotfl::j:beer: WELL DONE :beer::j:rotfl:

louloubelle80

Thanks, I have completed the forms and sent them to Welcome. I called them today and they advised my claim was in the final checks stage which includes calculations. Therefore I presume they are going to pay out, so wandered what figure I could expect as I still have my loan I know it will come of this but I wanted to find out roughly what will be left of my loan. Welcome offered me an early settlement figure of £11k.

BalkerneHi

How can you tell if a loan includes PPI? Get regular calls from companies willing to assist.

allofushere

milkeyedmender wrote: »

Hi all, had my offer letter from Lloydstsb offering me £6003.46 from PPI on my credit card ive had with them since 2002. The offer is £5941.08 which is just the PPi premiums and £62.38 8% simple interest. I wondered if anybody could advise if they should be paying interest associated with the PPi premium as well, as Lloyds have said they do not have to and they are refunding according to the FSA guidelines. Many thanks in advance. :A

Hi there

I too had my offer from LTSB this week and I was confused about the total so rang them for clarification.
I asked whether the amount was purely premiums or premiums and interest. Answer: definitely only premiums.
I came off the phone, thought about it for a bit and posted a few queries on here, cos I thought I was entitled to interest as well. Soooo.... rang LTSB again and asked whether my card balance would change to allow for the interest repayment.
Answer: No, because your refund includes interest.
I said I had been told the refund was made up purely of premiums on a previous call. Second adviser told me this was incorrect and the gave me a breakdown of the refund.

Also... they had only refunded me back to Sept 2004 and I have had my card since 2002 so second adviser cancelled first refund amount and sent my info for recalculation.

So try calling them again as I think a straight answer depends on the experience of the adviser. And make sure you have a proper breakdown of refund and dates refunded from and until.

hope that helps

louloubelle80

BalkerneHi wrote: »

How can you tell if a loan includes PPI? Get regular calls from companies willing to assist.

Hi Balkerne, I am new to this site but would strongly recommend you go it alone and not be drawn into paying someone upto 25% of any compensation, there are plenty of knowledgable and helpful people on this website who will be happy to assist you.

moggy2009

If it wasnt bad enough waiting the full 16 weeks for a decision then having to wait for a refund which ive been told could take up to 8 weeks now ive to wait on a letter to say when im getting paid and they told me theyve got a backlog from september last year already emailed bob diamond twice and had no reply so now i officially give up!!!!

moggy2009

:mad::mad::mad::mad::mad:

moggy2009 wrote: »

If it wasnt bad enough waiting the full 16 weeks for a decision then having to wait for a refund which ive been told could take up to 8 weeks now ive to wait on a letter to say when im getting paid and they told me theyve got a backlog from september last year already emailed bob diamond twice and had no reply so now i officially give up!!!!

This claim being Barclays

amersall

BalkerneHi wrote: »

How can you tell if a loan includes PPI? Get regular calls from companies willing to assist.

Hi there and welcome, it is so easy to make a claim yourself,you will get all the help you need on this forum.

All you need are the account numbers and reasons for mis sell,to find out if you have ppi on a loan,it will be on the paperwork and it will state ppi.
If it is a credit card,this will show as a monthly payment on each statement.
You could phone the banks or call in,if you dont have the account info.if you have a branch near you,it is worth going in and asking.

Look here for how to claim mis sell
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
If you need anymore help,just ask.

And just to let you know,when you are cold called,they promise you the earth and some tell you that you are owed thousands in ppi,this is just to get you to pay an upfront fee and a final bill of upwards of 25% plus vat of your "win".
The reality is,they cannot do anymore for you with a claim than you can do yourself,it is a case of having the info and posting letters.

We will help you for 0% and no vat,so give it a go.

Mrs_Impatient

louloubelle80 wrote: »

Thanks, I have completed the forms and sent them to Welcome. I called them today and they advised my claim was in the final checks stage which includes calculations. Therefore I presume they are going to pay out, so wandered what figure I could expect as I still have my loan I know it will come of this but I wanted to find out roughly what will be left of my loan. Welcome offered me an early settlement figure of £11k.

Hi, I'm sure they did offer you an early settlement figure of £11k you do realise that you have been paying this off for 4 years and still owe more than you originally borrowed!!! (unless you've missed a 0 of that figure). I've just worked out what your be paying them back in full if you went the whole 15 years and I've just fell off my seat :eek: I had a loan with these theiving b's, never again. Screw them for all you can get. Good Luck

louloubelle80

Mrs Impatient, that is why I am eager to understand what PPI compensation I can expect to get back as it will come directly off my loan balance which would hopefully put my loan too bed!