PPI Reclaiming successes and failures

Petergra

Hi Everyone!!!!

One Happy Bunny here!

Last week I recieved a rejection letter from MBNA stating that My claim had been considered and they were not going to uphold it. My initial though was to contact FOS but I though - from the information that they had given me, I would give the CEO an email and see where I get.

I emailed saying that I did not recall ticking the box for Payment Protection and seeing as I am a Teacher with 6 Months full pay and 6 months half pay as well as critical illness cover, the PPI would not be applicable to me and seeing as this was on the application form they had sent me, thejy knowingly mis-sold me the cover.

I have just opened up my email to a message from Matthew from ststing that they could not supply proof that I was shown the information regarding PPI and I had enough time to read and understand it and as a result, he was upholding my claim and has supplied me with the following calculations:

Total amount of PPI premiums charged since sale date: £2905.39
Total amount of interest associated with the PPI premiums: £3158.99
Total amount of 8% interest: £6.77
Total amount payable: £6071.15

I am SOOOOOOOOOOOOOOOOOO Happy!

Note to all - Don't give up with the company if you feel it has been a mis-sell - even after the final response letter I managed to get back what was owed to me before having to get the FOS involved!

amersall

Rae115 wrote: »

hiya,

what words were used in this letter, as HALIFAX need to be sent 1 of these. seems they are accepting but not paying :mad::mad::mad:

I wish you could use it :o but it is for secured loans with extortionate ppi.
If i thought it would help you i would gladly give
It was for the actual mis sell of this kind of ppi.

amersall

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, they most likely will ask you for a questionnaire,they will drag this out i can promise you that.
A letter may work though,wait and see.
This is a win anyway :j

Tom_Evans

Thanks for the advice Di - I don't suppose you have the RBS CEO details?? I know is cheeky to ask but if you or any members have it to hand it will save me a bit of net trawling

Thanks again

amersall

Monty_Zoomer wrote: »

May I ask if the refund of premium procedure becomes null and void if you have actually had to make a claim using the PPI at some point?

No,it does not affect your claim for mis sell.
Whatever they give you in redress will have the amount you claimed taken off this and if the redress is less than the amount that you claimed,you get nothing back as this will put you in the same position you would have been had you not had the ppi.

amersall

Tom_Evans wrote: »

I am at the stage with an RBS Offer on a Loan PPI (Received today 06/10./11

PPI on original Loan £3126.00

RBS Offer £1673.67 - Total Offer with Interest £2453.48

No indication how the £1673.67 was arrived at but as you can see far below the figure that I think I am due.

Question:
I have 6 months from today to accept the offer

If I go to FOS and complain its likely that this will take over 6 months minimum from other peoples history to get a decision. If the 6 months time limit runs out I assume the offer is taken back by RBS and then I am in the hands of FOS to decide. If this fails then I assume some sort of legal action is required that will cost me a lot!

Is this a an RBS ploy to Fobb you off with a lower sum knowing what a huge pile of complaints is in the pipeline with FOS?

There must be a lot of members out there with a similar situation who can advise me which way to jump.

ON a brighter note have got a result on Nat West Credit Card of around £2,200 so just smiling on one side of my face at present and still waiting for Barclaycard to come back in a few weeks time.

Advice and experience on RBS situation appreciated

Hi there, when did you take the loan out and is it settled,if so when,or is it still running?.

amersall

double_top wrote: »

thanks for the reply amersall

phoned mbna today and was told the cheque will be sent directly to me.

they also said most upheld credit card ppi complaints get £0 of the 8% back as you have to be in credit to get this.if you have a balance on the card(which i always had-within limit)then your not eligible for it!!

didnt make sense to me either...

:DKnow what you mean by the 8% on cc :(
Glad you will get the redress.

amersall

:D:DWell done to all winners so far :beer::beer::beer:
Nice one Di :A:A:D

Tom_Evans

amersall

Original Loan taken out 2005 - this one had PPI, subsequent 3 loans had no PPI so do not count.

You will see that have made me an offer of a lessor sum (including interest) than I originally incurred - by the way it was a single premium of £3126 added to the loan and paid up front. I did not take out new PPI on subsequent loans so original PPI sum paid but never refunded in part or full. I still have the last loan running at present. Heres another question - can you insist on a cheque refund or do they just pay a refund to your existing loan account?

Tom

karens43

Hi,

I contacted MBNA about 6 weeks ago through Which, i had a letter back stating they where gathering information, i then had another letter 3 weeks ago to say they would be paying me 2309.00 for my mis-sold ppi insurance.

thanks
karen.