PPI Reclaiming successes and failures

stever999

In addition to my RBS claim mentioned above I also sent a much smaller claim to Santander for an A&L loan I had in 2002. I had a letter confirming I would get a refund after a week and the money was in my bank account within 2 weeks!! They may have "stolen" from me initially but at least they put some effort into resolving it for me - unlike RBS 4 months later!...

It was for £312 so probably more cost effective for them to deal with little cliams like this quickly I guess?

never_too_old

amersall wrote: »

I wouldnt have thought so!!.
See what others say about this first.

i sent an email reply and the ceo office rang back,he said it was fine and being as it was a secure email you had to register,it wouldnt allow me to so he told me what the email said.

Thanks for replying:D

smitchy73

di3004 wrote: »

Well done and Congratulations to all recent winners!
:T:beer::rotfl:

I received my letter in the post today from lloyds, 2 old loans from 16 years ago, they lacked details because of the age, and even though i know the first loan was £5000 over 5 years and monthly repayment at just over £111.18 a month and it was settled a year and a half on to take out a further loan with ppi, but nothing in concrete evidence.

So even though the email received stated they have upheld these 2 old loan ppi complaints, due to lack of info these are offered on a standard offer of £1,200.00 for each one, so total in at £2,400.00 for the both.

I think I will have to accept, yet with the first one being 16 years old, the interest would have been pretty high, but lack of concrete evidence does not help.

Still I suppose at least its better than nothing and they could have refused on investigating - due to lack of evidence.:beer:

Well done Di, another one bites the dust.:j:j:beer::beer:

cazza999

Hello
I have had my PPI claim upheld by Barclays on the first attempt (!!) and received a letter from them yesterday confirming the amount.

I would just really appreciate it if someone could confirm for me if they have done their sums right before I send back the acceptance.

Original Loan £13000
PPi loaded up front £3715.47
Loan period 108 months (9 years)
started May 2005
Monthly payments £161.47 (Loan) £46.15 (PPI) total £207.62.

The summary they have sent me details the following:

Amount outstanding on the Loan as at Sep 11 £5889.02
Reduced by:
Original PPI £3715.47
plus Interest incurred due to PPI £1150.14
less Refund of payments of PPI £3553.55
Total reduction in loan £1312.06

New loan balance £4576.96 to be paid over remaining term at original rate of 6.9% monthly payments £161.47.

Refund workings as follows:
Payments made of PPI £3553.55 (I've checked and this is exactly 77 pymts of £46.15)
8% simple interest £914.55
Total refund due £4468.10 (To be paid directly to me)

Most of it i understand apart from the interest calculation. I worked my own spreadsheet example and i calculated it to be £1023.43 interest.
I know it's not much difference and I am very very happy to be getting a refund, i just wanted someone to tell me if
a) they've worked out the interest correctly and
b) if this is about as good as it gets and I should bite their arm off and use the cash to pay down my higher rate debt as fast as i can !!!

Many thanks in advance, you are all brilliant.
Carolyn

Rae115

di3004 wrote: »

Well done and Congratulations to all recent winners!
:T:beer::rotfl:

I received my letter in the post today from lloyds, 2 old loans from 16 years ago, they lacked details because of the age, and even though i know the first loan was £5000 over 5 years and monthly repayment at just over £111.18 a month and it was settled a year and a half on to take out a further loan with ppi, but nothing in concrete evidence.

So even though the email received stated they have upheld these 2 old loan ppi complaints, due to lack of info these are offered on a standard offer of £1,200.00 for each one, so total in at £2,400.00 for the both.

I think I will have to accept, yet with the first one being 16 years old, the interest would have been pretty high, but lack of concrete evidence does not help.

Still I suppose at least its better than nothing and they could have refused on investigating - due to lack of evidence.:beer:

:beer::beer: EXCELLENT NEWS DI ...WELL DONE:beer::beer:

mumofjanda

di3004 wrote: »

Well done and Congratulations to all recent winners!
:T:beer::rotfl:

I received my letter in the post today from lloyds, 2 old loans from 16 years ago, they lacked details because of the age, and even though i know the first loan was £5000 over 5 years and monthly repayment at just over £111.18 a month and it was settled a year and a half on to take out a further loan with ppi, but nothing in concrete evidence.

So even though the email received stated they have upheld these 2 old loan ppi complaints, due to lack of info these are offered on a standard offer of £1,200.00 for each one, so total in at £2,400.00 for the both.

I think I will have to accept, yet with the first one being 16 years old, the interest would have been pretty high, but lack of concrete evidence does not help.

Still I suppose at least its better than nothing and they could have refused on investigating - due to lack of evidence.:beer:

Great news Di, well deserved.....CONGRATULATIONS!!:beer::beer::beer::beer::beer::beer::beer::beer:

Kuffs1978

Hi guys and gals,

Forgive me if I've already answered this question myself, but could somebody perhaps give us some insight into what happens when the reclaim is passed onto the actual Ombudsman, i.e. the big cheese. As I've said before, my sister's claim was ruled in her favour by the adjudicator at the FOS in April, she then received notification on Monday 26th of Sept from the adjudicator that her case was being reviewed by an actual Ombudsman, and was asked "prior to the decision being completed, I need to know what the current status of the
loan is." We told them how much was still to be repaid (£3500) how much had already been repaid (£11,469) and the annual interest rate (10.89%) We also explained that GE were not budging on the monthly repayment remaining at £261.15 (the same as if my sis was still paying PPI). As I've explained before, my sister recently had a hip replacement, is trying her best whilst on crutches, but I know she is still anxious about this. The FOS have allegedly been dealing with her case for nearly a year now, yet we hear the very minimum months after decisions are made. So to ask a dumb question, does anyone know if the Ombudsman will keep us in the dark until he/she has had a response from GE, or will they notify us once they've decided whether they agree with the adjudicator's decision? There's no question that the monetary side of it will help my sister dramatically, but I think she deserves to know where she stands so that she can deal with whatever outcome sooner rather than later. Can anyone give her the benefit of their knowledge/experience please?

parsnips

maz77 wrote: »

Hi, I have had 3 claims against Lloyds upheld in August and I am still waiting for my cheques to arrive :mad:.

I think it is awful the way Lloyds can take so long in giving back our money!!.

I was wondering if anyone else have received their cheques from Lloyds??.

I have now emailed the CEO of Lloyds stating how unhappy I am with their terrible service. I wonder why I left Lloyds??.

But thank you so much to everyone on here and Martin for the great advice and I can't wait to have my money!!. :j

lloyds wrote to me on the 23rd august..... still waiting

Matryoshka

everybody :T

Red_peppers

amersall wrote: »

When you paid the ppi each month,this will have had interest on that was taken off the balance of the loan,you now have a refund of the ppi with interest,so if you didnt have ppi your balance would not have reduced by the ppi plus interest amount so they have to put this interest back on the balance of the loan.
Hope you understand this !!! it took me ages to get my head round this when i won mine back with FP.

Thanks for that!

Understand the interest part now!

It still seems like they are giving with one hand and taking with another in regards to putting the refund of premiums back on to the loan (£3000 ish) if we take the cheque.

Anyway a wins a win