PPI Reclaiming successes and failures

traceymae007

Just to let you know I was on a DMP but have been paying what I could to my creditors since 2006, now one of them said my loan should be at its end but was still in arrears, they accepted my on going payments and then I asked if PPI was on it! Yes it was, have just their web site and filled out the form, I am now due back some serious money indeed and my loan will end! There is light at the end of the tunnel. So dont despair if you defaulted but still made a payment of some kind, you are entitled to it back. May take a while to get payment from them, but its in black and white and would stand up in favour to me in court.

jansey07

amersall wrote: »

Hi there, did the first loan end when you took the second loan out,or did they both run full term together,
Someone will work these out for you,just hang on,it seems as if our maths wizards have gone awol..

as far as i know they are both still running, i have recieved the figure off them over the phone. but when i tried to ring for full redress today they said all systems were down. im sure they are two seperate ones
thanks

jansey07

jansey07 wrote: »

as far as i know they are both still running, i have recieved the figure off them over the phone. but when i tried to ring for full redress today they said all systems were down. im sure they are two seperate ones
thanks

just found paperwork 1st loan was paid of by the 2nd

mrstickle_2

reclaims upheld.
1 credit card with barclaycard and 1 loan with lloyds, total amount around not sure of yet but have had notice that they have upheld my claims. i really didn't think they would as only wrote to them on the off chance and one part off the form asking if i received advice re the ppi i had to tick "can't remember" as was the truth. i thought this would be their get out card, go for it if you think that you might be owed. good luck all and thank yo to mse for the templates.:j

jansey07

amersall wrote: »

Hi there, did the first loan end when you took the second loan out,or did they both run full term together,
Someone will work these out for you,just hang on,it seems as if our maths wizards have gone awol..

yes the 2nd one paid the 1st one off .... im not sure what im doing here lol

never_too_old

Afternoon all

just spoken to the most wonderful person who sent me a secure email with my figures,going to be getting just over £4500, hes marked payments as urgent so fingers crossed,

so many thanks to all on this thread and site, this is going to get us out of a hole:j:j:j:j:j

amersall

jansey07 wrote: »

as far as i know they are both still running, i have recieved the figure off them over the phone. but when i tried to ring for full redress today they said all systems were down. im sure they are two seperate ones
thanks

Hi there, if they are both still running,you only get the ppi you have paid to date back,the whole ppi amount will be taken off your balances and the loans will go down by the monthly ppi amount.
For arguments sake,if your ppi is £1 a month and you paid this for 12 months,then your redress will be £12.
Have they given you the 8 %,you can work this out here

http://www.moneysavingexpert.com/reclaim/bank-charges#calc
you put the month date and year of the first ppi payment from the start date to now,the calculator will add each one up as you go along,when you have finished it will show the 8% and the total ppi you should have back.
Hope this helps.

amersall

jansey07 wrote: »

yes the 2nd one paid the 1st one off .... im not sure what im doing here lol

Ok,the first loan will only have made a couple of payments,so that is the ppi you will get back plus the 8%,but you will have had a rebate of the ppi when you settled this,so any redress will have this amount taken off,this being the case,it sounds fair to me,but the second loan is the one you need to do on the calculator,you have paid more ppi for this one,please do the calcs on the bank charge calculator to make sure.
Do you know what the rebate was when you took out the second loan?.
If you can find this out it will help.

jansey07

jansey07 wrote: »

as far as i know they are both still running, i have recieved the figure off them over the phone. but when i tried to ring for full redress today they said all systems were down. im sure they are two seperate ones
thanks

amersall wrote: »

Ok,the first loan will only have made a couple of payments,so that is the ppi you will get back plus the 8%,but you will have had a rebate of the ppi when you settled this,so any redress will have this amount taken off,this being the case,it sounds fair to me,but the second loan is the one you need to do on the calculator,you have paid more ppi for this one,please do the calcs on the bank charge calculator to make sure.
Do you know what the rebate was when you took out the second loan?.
If you can find this out it will help.

loan 13,100 paid back halifax creditior 6027.37
we was left with 7.072.63
thanks

amersall

jansey07 wrote: »

loan 13,100 paid back halifax creditior 6027.37
we was left with 7.072.63
thanks

Hi,the rebate of ppi will have been in the 6027.37,i cant work that out for the rebate,go on the bank charge calculator and put the ppi in for each month and year and see what the total ppi for both loans was,the end figures will be the 8% and the ppi.
We will take it from there.
If you want me to check the ppi for you,i need the first ppi date that you paid the loan and the last date for the first loan,and the first payment date for the second loan.

You will at least have a figure from this and one of the maths wizards (when they come on !!) will maybe work out what the rebate was.