PPI Reclaiming successes and failures

pigsmightfly

Wonder if one of you fabulous "calculations" people could help me?

I need someone to help me work out roughly what I should be owed as a figure has came off my loan balance so presume a letter will be on its way.

However my situation is a bit complicated so if anyone is willing, could you kindly PM me when you are free and I will explain and send you figures etc.

Thank you so much x

marcusarelius

Just recieved my cheques from Barlcays (First Plus) - sent the complaint on the 10th May and had acceptance on the 1st September. thanks for all the info and support to get this far.

Good luck to all others waiting!

debsclark17

First Plus - Success ..
Sent claim for ppi on loan which we repaid early (loan out in 2005 and paid off in 2007). Sent off claim in June, final day for response was 4/10/11 received reply 3/10/11 talk about push it to the limit !!

Just received settlement letter which states :
A Original PPI policy £4898
B Interest Incurred due to PPI £616.51
C 8% per annum simple interest £1352.22
D Less early settlement £855.94
F Value of refund (= A + B - D) and a separate cheque C = £4162.29
However, we assume they have transposed figures C and D, as the figures just dont work out, also the offer let states the £4162 plus cheque for £855.

Can someone please advise is the 8% simple interest correct ? and also they say they have deducted income tax in accordance with current tax legislation from the 8%, how can they do this ? they dont know whether I am employed, low tax bracket, high tax bracket or unemployed ?

They also say sign the acceptance form and a cheque will be with us in 6 TO 8 WEEKS !!! Is it acceptable to have to wait another 6 to 8 weeks on top of the 16 weeks we have already waited.
Would appreciate any advice ?

Thanks

pc007

Hi all,

First Plus sucess, sent form in early July had reply 17th July with a 30th October for final response. Got upheld letter yesterday for £9400 well happy.

Been reading this thread for weeks and I must say a big thank you to everyone for giving me the push to put in the claim in ths first place.

As debsclark17 points out the acceptance form says cheque will take 6 to 8 weeks. Is this realistic or could it be quicker or longer.

cheers

marcusarelius

Hi pc007 - mine took 1 day less than 5 weeks from sending the acceptance back

Lemonie1985

pigsmightfly wrote: »

Wonder if one of you fabulous "calculations" people could help me?

I need someone to help me work out roughly what I should be owed as a figure has came off my loan balance so presume a letter will be on its way.

However my situation is a bit complicated so if anyone is willing, could you kindly PM me when you are free and I will explain and send you figures etc.

Thank you so much x

Wow so have you got your finally?? :j i emailed CEO yesterday but not heard anything back yet:mad:


Mel

bex2012

Hi All,
Ive just been told by MBNA that a cheque has been issued on the 14th september (not received yet though). Im not convinced the figures are right, would someone be very kind an double-check for me? Ive tried to go by the FOS guideline figures:
MBNA are offering:

PPI and associated interest: £2100.02
8% amount: £979.37

Total amount payable: £ 3079.57

These are my loan figures:

Loan amount: £15800
PPI amount: £2807.12
Total amount: £18607.12
APR: 6.9%
Monthly APR: 0.575 (6.9 / 12)
48 months/ 4 years
Monthly repayable amount: £442.90

By my calculations the PPI amount per month was £91.03 (2807.12 / 48)

I made 16 payments before clearing the loan (16 x £442.90 = £7086.40).

The settlement figure of the loan was £12288. MBNA said I had a rebate of £1109.96 when the loan was settled. By my calculations that means they kept £1697.16 (£2807.12 - £1109.96).

If I hadnt had the PPI, the figures would have been £351.87 per month (£442.90 - £91.03), over the 16 months: 16 x £351.87 = £5629.92

So am I right in thinking that they have to refund the 16 x 91.03 = £1456.48 PLUS £1442.08 (£7086.40 - £5629.92 = £1442.08) which is the difference between the loan with and without PPI.
£1456.48
+£1442.08
= £2898.56

Then obviously the interest from each PPI payment needs to be added, plus the 8% statutory. I put all the info in the CAG ppi calculator, and it was bringing the refund due at over 5K!
Does this make their offer of £3100 reasonable?
Thanks!

di3004

Natalie

I am so sorry to have missed your birthday, please forgive me for not realising.:o

Hope you had a lovely day honey, and ........
Happy Belated Birthday Wishes, hope you had a wonderful day!
XXXXXXXXX

:beer::beer::beer::beer::beer::beer:
:bdaycake::bdaycake::bdaycake::bdaycake: xxxxxx

di3004

Well done to all today's winners!
Congratulations! :beer::beer::beer::beer: xxxxxxxxxxxxxxxx

dizzeeblondee

Pennies from heaven!!!!!!!!!
Just when I thought the post had been for the day, and I was getting annoyed I got the calculations letters. In two seperate envelopes, i had two small cheques for 600 quid between them.....Halifax even spared gluing the envelopes shut, so they could have been lost:mad:

I have between the five claims a total of 6.5k, this includes the two 50% claims that my ex partner is entitled to, but is handing back to me once they arrive.:T
:j:j:j:j:j:j:beer::beer::beer:

Now......lets see how long it takes to send the two big ones of 2k a piece:rotfl: