PPI Reclaiming successes and failures

mapleoak

offcumden wrote: »

I posted a similar question a couple of days ago but as yet no response unless I've missed it
BUMP
Well I think I may be in with a chance of winning.
I received a letter yesterday, sixteen weeks after my original complaint stating that they are unable to respond directly on a case-by-case basis however, on this occasion they are prepared to uphold my complaint.
They go on to state that the offer £1771.42 will effectively return the premiums I've paid.
The breakdown of how the offer was calculated shows
Total amount of Insurance charged £1018.15
Contractual Interest £753.26
8% Statutory Interest £0.01

The CC account has been running since the 1990's and I have a
Certificate of Insurance dated May 2003 increasing the PPI monthly cost
to 75 pence per £100 outstanding balance.


Statements for March 2005 and June 2006 show outstanding balances of £3249 and £4400 with respective premiums of £23.89 and £34.16.
The Without Prejudice Offer letter does not give any detail as to how they have arrived at the figures or the period they cover nor any contact details other than a prepaid envelope. It does not state it is their final offer only that I may refer it to the FOS if disatisfied and that the offer will be withdrawn six weeks from the date of the letter.
I look forward to the experts thoughts and recommendations as I feel pretty certain that the amount offered is likely to have been understated

M&S must have a specific formula for calculating redress as your figures and mine are broadly similar in terms of the premiums paid, consolidated and statutory interest. It would be useful to know how they arrived at their figures but are you able to challenge their approach and importantly could they just withdraw their offer, walk away and send us off to the FOS or is that just a veiled threat?

Regards

shellbo10

hunnyluvinbear wrote: »

Whoo Hoo! Just rang MBNA to ask when we will be paid...cheque was sent yesterday!

Hi what number vdid you use pls, I am waiting for payment and the number I have keeps cutting me off after I have been through the menu?
Is MBNA a HBOS card?
Thanks in advance

hunnyluvinbear

shellbo10 wrote: »

Hi what number vdid you use pls, I am waiting for payment and the number I have keeps cutting me off after I have been through the menu?
Is MBNA a HBOS card?
Thanks in advance

MBNA is Bank of America. I rang 0800 062621, went thru all the automation until I got a human.:)

toytony

Hi all, has anyone got a number for HSBC so I can push them on my claim, finally found out my claim has been accepted 3 weeks ago after waiting a year.

But I still don't know how much and I am getting so frustrated with the whole process

Thanks Tony
:mad:

Tigermaid

I have had a rejection from Barclaycard with regard to my Goldfish card. In the original rejection letter they just stated that as the PPI didn't show on my account in September 2005 they couldn't go back any further than six years with their records. I asked them to reconsider as I had managed to find numerous old statements dating back to 2001 all showing payments for PPI. They again rejected my claim as although the application form, which they tell me was dated 2001, didn't have PPI on it, I must have spoken to someone after that and asked for it to be added at a later date. Why would I do that when I paid off the bill every month? I telephoned them and asked for the date when the PPI was presumably supposed to have been added but they were unable to give me this info. I again asked them to reconsider and they have rejected it for a third time as again they don't have any information for more than six years. How come they were able to find out what date I applied for the card and that I hadn't requested PPI but can't tell me the date when PPI was added (not by me). I'm going to send all the information to the FOS now.

precious12

Tigermaid wrote: »

I have had a rejection from Barclaycard with regard to my Goldfish card. In the original rejection letter they just stated that as the PPI didn't show on my account in September 2005 they couldn't go back any further than six years with their records. I asked them to reconsider as I had managed to find numerous old statements dating back to 2001 all showing payments for PPI. They again rejected my claim as although the application form, which they tell me was dated 2001, didn't have PPI on it, I must have spoken to someone after that and asked for it to be added at a later date. Why would I do that when I paid off the bill every month? I telephoned them and asked for the date when the PPI was presumably supposed to have been added but they were unable to give me this info. I again asked them to reconsider and they have rejected it for a third time as again they don't have any information for more than six years. How come they were able to find out what date I applied for the card and that I hadn't requested PPI but can't tell me the date when PPI was added (not by me). I'm going to send all the information to the FOS now.

That sounds really dodgy to me yea i agree with you it's time to let the FOS deal with them. Good luck i'm sure it will go in your favour

JennyJenJen

Its a win for me!!!!! Have had 3 loans with Egg over the years, each with ppi. I rang them in June to ask what to do about misselling and they said they could log the complaint over the phone.

Today I have received a cheque for £8k and had my current loan balance reduced by £1765!! So happy, cant believe it!!!!!

dilus

turbo.jet wrote: »

I've spoken to the HMRC - for a government department it was a very good customer service experience! No wait time on the phone queue and he was very helpful. I just told him the amount of interest I'd made and what it was for. He made a note of it and said that as it was a one-off and I've told them immediately they'd just adjust my tax code accordingly. I don't have to fill in any forms either.

So I don't have to do a self-assessment tax return and I don't have to pay them a lump sum, and I can pay off my entire debt. Happy days!

Thanks all for the advice.

That's great turbo.jet, well done and enjoy :T:beer:

Fran29_2

Hi All. Just got home today to a letter from HSBC with an offer of a whopping 21946.56:j:j I was expecting just over 10K. They included another loan which I hadn't claimed for as I didn't have any paperwork. That loan ran from 2001-2005 and was paid off by the 2nd loan. Details as follows
Loan1
PPI Premium redress 5507.35
Interest 8% 3297.50

Loan2
PPI Premium 10542.25
Interest 8% 2599.46

Total 21946.56

They want to pay off my outstanding loan balance of 9709.26 leaving me with 12237.30 as a refund. I will do this because the refund is a lot of money so the loan is cleared and I've got money to spend.
Acceptance form ready to send tomorrow so it's just a wait for the money to appear in my account. Anyone have an idea how long it is taking with HSBC from acceptance of offer to payout???
Just to give an idea of my journey. Started claim in Nov 10. Sent to FOS Feb 11 , Upheld letter from FOS on 7/9

di3004

Well done and Congratulations to all today's winners! :T:beer::j xxxxxxxxxxxxxx