PPI Reclaiming successes and failures

di3004

smitchy73 wrote: »

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

Thank you x:A I have since found the details of both loans, opening and closing dates, and some old banking statements, and agreements which I will forward on to them to consider a higher amount as stated on their letter.:T:T
Cheers x:beer:

di3004

cazza999 wrote: »

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

Hi Carolyn

Well done on your success!:beer:

Hopefully someone will be around to check the calculations for you over the weekend.;)

di3004

Rae115 wrote: »

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

Aww thanks honey xx:beer::A:beer:

di3004

mumofjanda wrote: »

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

Thank you babe xx:A:beer::j

di3004

Kuffs1978 wrote: »

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?

Hiya

It may be worth mentioning of your sister's condition to the FOS if not mentioned yet, as they may move this on quicker.

I would also keep in touch with them regular as well, every 2-3 weeks to ask for an update, normally when the case has actually been passed on to the ombudsman they do normally write to let you know or even email.
So it maybe worthwhile asking if they can please email to keep you upto-date on the complaint.

Its difficult to predict a timescale because of the backlog, but on one of mine it was about 3 months it was passed from the adjudicator to the ombudsman, however it may have been quicker for some.

Do contact them and ask them to keep you upto-date by email and explain your sister's current situation, health etc, good luck.;)

di3004

w14man wrote: »

I just received a letter from mbna stating my complaint has been upheld and a settlement of £25,500 will be sent within 28 days....

now approaching Barclaycard on 2 seperate cards and a Direct Line loan.

Wow Congratulations!:beer: and well done!:T:j

di3004

Topkapi wrote: »

Since posting this I have received another letter from RBS offering me a refund of over £8,000 for loans that I don't even remember taking out. OMG!! Who am I to argue with them. Acceptance letters signed and posted off. Will sit back and wait for money to go into bank. That will be over £22,000 in total. Absolutely amazing.

What a pity Martin doesn't have a charity where we could all deposit say 1% for our refunds and say that it is all down to him. I will be making a donantion to Help for Heroes as my son has done eight years in the army and has lost more than one of his friends.

What a lovely surprise!:T:j well done and Congratulations!:beer:

di3004

duplock06 wrote: »

hi all,
just a short note to let you know i had a mortgage with halifax from 2002-2003.was going to phone one of those companys because i had no paperwork to prove.decided to phone halifax itself.told them i wanted to make a claim,they found all my details,and was told it would take up to 16weeks to investigate.
that was 5 weeks ago.
woke this morning to a nice letter thanking me for my patience and an offer for
refund of premiums = £869.52
intrest at 8% = £544.05
total = £1,413.57.
nice just before christmas:beer:thank you martin:j

Brilliant!:T:j Well done and Congratulations!:beer:

Kuffs1978

QUOTE=di3004;47537841]Hiya

It may be worth mentioning of your sister's condition to the FOS if not mentioned yet, as they may move this on quicker.

I would also keep in touch with them regular as well, every 2-3 weeks to ask for an update, normally when the case has actually been passed on to the ombudsman they do normally write to let you know or even email.
So it maybe worthwhile asking if they can please email to keep you upto-date on the complaint.

Its difficult to predict a timescale because of the backlog, but on one of mine it was about 3 months it was passed from the adjudicator to the ombudsman, however it may have been quicker for some.

Do contact them and ask them to keep you upto-date by email and explain your sister's current situation, health etc, good luck.;)[/QUOTE]



hi Di,

Thanks. I forgot to mention that her case was fast-tracked, since we explained to the adjudicator of the horrific living conditions the repayment of the loan had forced her into (she has to use her kettle and sink for her daily hygiene, since we cannot afford to buy her a new shower and have it installed. Cases are only fast tracked if a positive outcome would be particularly beneficial to a claimant in extremely difficult circumstances (or something like that) so my sister's disabilities, and only just living above the poverty line, allowed the case to be fast-tracked. I've also had conversations with the FSA about a seperate issue of my own, but did ask the likelihood of the Ombudsman agreeing with the adjudicator's decision. One guy said the two would definitely agree, whilst another said they were unable to comment. My fear is that winter is looming, and the past two winters here in the South East have been horrible. My sister has such courage as a disabled person, and does her best not to let her condition dictate her life. But when the cold weather arrives, I really don't know how she will cope.

anne47

congratulations Di . Well done x