PPI Reclaiming successes and failures

IANC

I received 2 cheques today in respect of 2 loans.

I suspect I will get the other 5 over the next couple of days.

I have told them to look at the CC claim again as I have worked out why it was wrong.

They averaged the last 6 years and worked it out by dividing it by 6 and multiplying it by 13.

The first 7 years of the card, it had a much higher limit. I was wreckless and it was always maxed out.

The last 6 years, the limit was reduced from £3,500 to £500, so the claim should be much, much higher.

They are looking at it again, so hopefully it will be done properly this time.

I shall keep you all posted as always.

Happy with the £3,900 from my loans though and that money will come in handy.

I received bankers drafts, which will take 7 days to clear. I think this is a bit naughty to say that Halifax have issued them and it was paid into a Halifax account.

Saying that though, 7 days interest on hundreds of millions is probably worth having :rotfl:

di3004

hostman wrote: »

My partner received a letter from HSBC today, confirming her complaint has been upheld and the amount they're offering to settle the complaint.

A whopping £4,500, woohoo! The breakdown of their offer is interesting, the PPI policy amounts to about £3000 over the five year loan agreement, the rest is made up of a redress amount + interest + interest on the original PPI policy cost. Interest on the letter is set at 8%.

The complaint was submitted in June this year, so it's taken about four months to get the offer, not too bad

Hopefully the transfer of the refund in to the nominated account won't take four months.

All it took was an hour of work one June evening completing the questionnaire! Very pleased indeed.

Excellent work! :T:j Congratulations!:beer:

di3004

IANC wrote: »

I received 2 cheques today in respect of 2 loans.

I suspect I will get the other 5 over the next couple of days.

I have told them to look at the CC claim again as I have worked out why it was wrong.

They averaged the last 6 years and worked it out by dividing it by 6 and multiplying it by 13.

The first 7 years of the card, it had a much higher limit. I was wreckless and it was always maxed out.

The last 6 years, the limit was reduced from £3,500 to £500, so the claim should be much, much higher.

They are looking at it again, so hopefully it will be done properly this time.

I shall keep you all posted as always.

Happy with the £3,900 from my loans though and that money will come in handy.

I received bankers drafts, which will take 7 days to clear. I think this is a bit naughty to say that Halifax have issued them and it was paid into a Halifax account.

Saying that though, 7 days interest on hundreds of millions is probably worth having :rotfl:

That is great Ian!:T:j Well done and Congratulations all round!:beer:

Topkapi

sara1978 wrote: »

Hi Topkapi
Mine wasn't in either today ( wasn't expecting it to be either to be honest) I managed to speak to someone in the PPI team and this is what I was told

" We will be adding interest everyday until the day we send your payment out/put in bank account and no you won't have to be recalculated"

"We are paying out as soon as we can as it is costing the banks more money in the long run, the longer it takes to pay out"

"Each claim is taking approx 20 mins to manually be processed to avoid errors, here is where the late interest is added"

"Staff are working evenings and Saturdays to clear the backlog.

Somebody from the payments team, a Louise Thompson I believe, is supposed to be ringing me within 48 WORKING hours to give me an idea on the timescale we should expect (laugh a minute)

The lady I spoke too also said the money should have been in my account yesterday, not today....they really do start the '28 days' from the day they receive your acceptance (shock horror)

Will let you know more if/when I hear from Louise Thompson as the lady I spoke to didn't have any idea how far behind the payouts were.

Keep your chin up....think of all that added interest :rotfl:

Thanks Sara - will keep in touch and let you know the moment my money arrives. When I mentioned that I was being made redundant at the end of October and could do with the money the cretin at the other end of the phone said "Oh we're snowed under with work here, we'll be working forever". Very Subtle. Perhaps I should apply for a job at the bank - probably know more about it all by now than most of their staff!

seantheduck

Followed St Martins guide...sent of claim in Aug and last week had a chq for £3459.....never knew it includes interest...very easy....a very happy man.:D

di3004

seantheduck wrote: »

Followed St Martins guide...sent of claim in Aug and last week had a chq for £3459.....never knew it includes interest...very easy....a very happy man.:D

Well done that is fab!:T:j Congratulations!:beer:

amersall

bflare wrote: »

Hello,

I have just been on the phone to Barclays (for over an hour) and I am now feeling a bit concerned, can anyone help????

I was given an estimate 7 week ago of £3449 for 2 loans over 6 years totalling £7500. I was delighted with the offer but have now been told that I will be refunded £1260 plus £415 which is nearly £2000 less then the estimate!!!!!! Surely this cannot be correct? The lady did mention at first a refund of £1776 which when I added the 3 amounts together are very close to the estimate. Can anyone shed any light? Just to recap the amounts given are:

£1776 Loan 1
£1260 Loan 2
£415 Unknown

Thanks,

Tony.

Hi there,when you are paid redress,you get ppi back that you have paid to date,were any of these settled early?.

You will get back ppi paid to date with 8%,if the loan was settled early you would have had a rebate of ppi for this on the settlement figure you paid,this will be taken off any redress you recieve.

What was the total ppi on both loans,the monthly ppi amount and when was the first payment on each and the last on each?.
If you can provide these figures someone will help you with the calculation.

amersall

:j:jA huge congrats to all winners so far this week :beer:

Shop_til_you_drop_2

bflare wrote: »

Hello,

I have just been on the phone to Barclays (for over an hour) and I am now feeling a bit concerned, can anyone help????

I was given an estimate 7 week ago of £3449 for 2 loans over 6 years totalling £7500. I was delighted with the offer but have now been told that I will be refunded £1260 plus £415 which is nearly £2000 less then the estimate!!!!!! Surely this cannot be correct? The lady did mention at first a refund of £1776 which when I added the 3 amounts together are very close to the estimate. Can anyone shed any light? Just to recap the amounts given are:

£1776 Loan 1
£1260 Loan 2
£415 Unknown

Thanks,

Tony.

I had a letter from Barclays a couple of weeks ago also with an estimated figure. Not heard anything since then but it's early days. I do know my offer letter does say that they will need to do some more work to arrive at the final amount but that it won't be less than the estimate. Have you still got the letter which gives you the estimated figure? Maybe it's a standard letter and it might have the same wording as mine?

smitchy73

sara1978 wrote: »

Hmmmph !!
Don't knock coffee nasal squirting until you've tried it :rotfl::rotfl:

I just had an terrible thought in my head when you mentioned that, but i'll hold that to myself and leave to your own imagination;);)

I'll maybe try the coffee nasal squirting tomorrow, see what funny things get posted, like RBs paying out on time, that'll have us al rofl.:D