PPI Reclaiming successes and failures

dizzeeblondee

digitaltrance wrote: »

While it is great that we have finally ' won' our fight with first plus over a wrongly sold ppi the elongated time frame that they are operating to refund the money appears to me as just another insult. Every letter first plus has sent to us up until they agreed to payout has always been the full 8 week period to the very day ...why? (we all know why don't we ). Today after four weeks of phoning they finally have come clean and admitted that it will be the full 8 weeks until the cheque arrives for me... this will be 2nd November 2011. They claim it's all due to the weight of claims. What a load of BS it is pure and simply just another way of making yet another 2 months interest on money that from August 31st and the offer letter was no longer theirs.

The money I am waiting to receive (£16,000) was badly need years ago and when it finally arrives like an asthmatic Calvary brigade, it will find us in this family mentally broken by a system that works on a neolithic time scale and cares less than Jeffrey Dahmer...

If first plus had cancelled the ppi 6 years ago when I asked I would not have had to take out yet another loan to pay off First Plus one because their monthly payment with the ppi was simply crippling ….If they had helped me when I needed it I would not have gone with another bunch of crooks picture loan who have now gone bust and left my 'secured' loan totally unsecured with anyone who wants to pick up the tab - this week it's Webb Resolutions who ever they are

Thank god for Martin lewis who woke me up and got me to check my pay off figure for the loan and in doing so see in small print that they added the whole life of the ppi to the final settlement figure ..

Beyond all this is the small mindedness of this company which is basically Barclays who spend a small fortune on premiership football sponsorship and advertise to get people to become customers . Wouldn’t you have thought they would want to keep the customers they have and treat us with respect ...Don't they think we talk to family and friends.... how many million nay billions are they loosing through this bad press?

All being well I could have been a customer for another 25 year and my offspring etc etc but now I will never ever touch Barclays or any 'large bank again'

Yes this is me just venting that I have to wait another 4 weeks for my cheque but their tardiness and indifference makes my blood boil... :mad:

Keep up the great fight good people but don't ever expect that fight to be easy or quick ….for me it has been nearly been a year of hair pulling stress. I may have won what was mine but First plus are still the real winners...

My final thought is will I really see a cheque on the 2nd of November or will I simply have to swallow even more lies about heavy work loads ..it must take all of 5 minute to get a computer to generate a cheque.

First of all may I give you:grouphug:Your post has pretty much got the feeling I have had for several months. My OH has taken his tin hat off, as he has finally seen two cheques from the HX that he said I would probably never see. You will see it, they do come..........like a snail wheezing its last breath....although I'm still waiting for the big ones of the five, they are coming:T

We all share your sentiments.....they're all con merchants, I shall be getting rid of some excess baggage when my cheques clear, and now my OH will be having his own PPI claims investigated so he can get rid of his baggage too.
Never ever again will we be getting any loans, or credit cards, ok so you can't get away from a mortgage in this country unless you win the lottery.....or emigrate to a nice little Island called Cyprus and live in a village up the Troodos mountains....and if I do, I shall wear my tin hat, and sit outside my little house, waving sticks at tourists and shouting like Father Jack, after drinking copious amounts of Ouzo:beer:

mapleoak

Hi,

I did post a few days ago but I realise people are very busy. I received an offer from M&S on CC PPI which they broke down as:-

Total PPI - £1260.82
Contractual Interest £850.22
8% Statutory Interest £2.86

This card ran from Oct 2003 until Sept 2010 with varying balances up to £6000+ with APR of around 17%

I am happy it has been upheld but there seems to be some disparity between how CC PPI settlements are calculated by different organisations.

Do those figures seem about right or should I simply ask M&S to say how they arrived at them, or are they likely to just refuse to provide any more detail?

It says I have 6 weeks to respond with the suggestion the offer will be withdrawn if I don't agree to their figures.

Any help or advice would be appreciated.

Regards

IANC

mapleoak wrote: »

Hi,

I did post a few days ago but I realise people are very busy. I received an offer from M&S on CC PPI which they broke down as:-

Total PPI - £1260.82
Contractual Interest £850.22
8% Statutory Interest £2.86

This card ran from Oct 2003 until Sept 2010 with varying balances up to £6000+ with APR of around 17%

I am happy it has been upheld but there seems to be some disparity between how CC PPI settlements are calculated by different organisations.

Do those figures seem about right or should I simply ask M&S to say how they arrived at them, or are they likely to just refuse to provide any more detail?

It says I have 6 weeks to respond with the suggestion the offer will be withdrawn if I don't agree to their figures.

Any help or advice would be appreciated.

Regards

I would definitely ask for the figures if I were you.

Just for example, my balance of my credit card is give or take £1200.

The PPI premium this month was £10.

Based on this, your 84 payments would be £840, but with a balance of 5 times, you could have paiid more like £50 in some months for the PPI.

They definitely haven't compounded each payment by the APR.

Ask for the figures broken down, you have nothing to lose and potentially everything to gain.

di3004

ncd wrote: »

I've had two successes in the last few days, one from Egg for £10,056 for mis-sold PPI on my credit card and now a letter from the Halifax for £14,000 for mis-sold Mortgage PPI. Marvellous:D:j:beer:

WOW :T absolutely wonderful!:T Congratulations!:beer:

di3004

kaz310 wrote: »

I sent a letter to firstplus in June asking for a reclaim. I had a letter back stating I would receive a reply by 26th October. Having read some of the threads most have had to complete a questionnaire. Does this mean that when they finally contact me that i will have to complete one, thus dragging my complaint out even further.

Hi there

Wishing you luck on your reclaiming.

I think the reclaim questionnaire maybe the procedure they use, so maybe you could cover your tracks just in case by completing one anyway, there is one on step 3 below, keep a copy for yourself as well, and also make them aware you have already sent a letter as well, and that you will appreciate they still go by the original date, afterall its still the same complaint.
All the best.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

di3004

digitaltrance wrote: »

While it is great that we have finally ' won' our fight with first plus over a wrongly sold ppi the elongated time frame that they are operating to refund the money appears to me as just another insult. Every letter first plus has sent to us up until they agreed to payout has always been the full 8 week period to the very day ...why? (we all know why don't we ). Today after four weeks of phoning they finally have come clean and admitted that it will be the full 8 weeks until the cheque arrives for me... this will be 2nd November 2011. They claim it's all due to the weight of claims. What a load of BS it is pure and simply just another way of making yet another 2 months interest on money that from August 31st and the offer letter was no longer theirs.

The money I am waiting to receive (£16,000) was badly need years ago and when it finally arrives like an asthmatic Calvary brigade, it will find us in this family mentally broken by a system that works on a neolithic time scale and cares less than Jeffrey Dahmer...

If first plus had cancelled the ppi 6 years ago when I asked I would not have had to take out yet another loan to pay off First Plus one because their monthly payment with the ppi was simply crippling ….If they had helped me when I needed it I would not have gone with another bunch of crooks picture loan who have now gone bust and left my 'secured' loan totally unsecured with anyone who wants to pick up the tab - this week it's Webb Resolutions who ever they are

Thank god for Martin lewis who woke me up and got me to check my pay off figure for the loan and in doing so see in small print that they added the whole life of the ppi to the final settlement figure ..

Beyond all this is the small mindedness of this company which is basically Barclays who spend a small fortune on premiership football sponsorship and advertise to get people to become customers . Wouldn’t you have thought they would want to keep the customers they have and treat us with respect ...Don't they think we talk to family and friends.... how many million nay billions are they loosing through this bad press?

All being well I could have been a customer for another 25 year and my offspring etc etc but now I will never ever touch Barclays or any 'large bank again'

Yes this is me just venting that I have to wait another 4 weeks for my cheque but their tardiness and indifference makes my blood boil... :mad:

Keep up the great fight good people but don't ever expect that fight to be easy or quick ….for me it has been nearly been a year of hair pulling stress. I may have won what was mine but First plus are still the real winners...

My final thought is will I really see a cheque on the 2nd of November or will I simply have to swallow even more lies about heavy work loads ..it must take all of 5 minute to get a computer to generate a cheque.

Well done to you!:beer: Congratulations!:T

Hope you receive your money very soon, fingers crossed.;)

smitchy73

mapleoak wrote: »

Hi,

I did post a few days ago but I realise people are very busy. I received an offer from M&S on CC PPI which they broke down as:-

Total PPI - £1260.82
Contractual Interest £850.22
8% Statutory Interest £2.86

This card ran from Oct 2003 until Sept 2010 with varying balances up to £6000+ with APR of around 17%

I am happy it has been upheld but there seems to be some disparity between how CC PPI settlements are calculated by different organisations.

Do those figures seem about right or should I simply ask M&S to say how they arrived at them, or are they likely to just refuse to provide any more detail?

It says I have 6 weeks to respond with the suggestion the offer will be withdrawn if I don't agree to their figures.

Any help or advice would be appreciated.

Regards

The figures don't seem quite right, best thing to do IMHO is to wait or ask for a full breakdown of how they got to those figures. From what i've read on the FSA guidelines and some examples given by them, they have to go back to the first ppi charge on your account and start to restructure your account, one list is what the refunds of the premium and the other is what your account would look like without the ppi, if at any point when removing the ppi your account goes into credit(they owe you money) then they add the 8% simple interest.
This is why it is very hard to work it out for any of us normal people.

Good luck and congrtaulations on your win:D

di3004

IANC wrote: »

I haven't had my figures in the post yet, but just logged into my credit card and the following payments are showing as credits on the statement.

Premium Refund £1411.83
APR Refund £1235.60
Rebate Fefund £753.79

Now based on the fact that the APR's are as follows - 26.9% purchases, 29.95%

And the fact that the card started in 1998 makes me think that the APR figure is woefully incorrect.

I'll wait until I get the figures before I point this out, as it seems that they have struggled with the concept of compounding. :mad:

I don't blame you, good luck x;)

kalikin

WAYHAY:j:j:j:j:j:j:j:j
Got the money out of lloyds - they paid it into the wrong account it ended up taking 3 trips to the bank but i have it

£7004.38 over 6 loans

did the fos questionnaire

di3004

kalikin wrote: »

WAYHAY:j:j:j:j:j:j:j:j
Got the money out of lloyds - they paid it into the wrong account it ended up taking 3 trips to the bank but i have it

£7004.38 over 6 loans

did the fos questionnaire

Glad to hear it finally reached you!:T:j Well done and Congratulations!:beer: