PPI Reclaiming successes and failures

Dizzywithmoney

nutty_nat wrote: »

Dizzywithmoney wrote: »

Rang First Plus yesterday to ask when I would get my cheque (8 weeks up today - they received my acceptance on 17/8/11 so exactly 8 weeks ago). The just took my number and said someone would call me back within 24 hours. They rang me back this morning and just said that the cheque had been processed and a letter date 11/10/11 (yesterday) had been sent stating that the cheques were on their way (apparently the amount for 8% is a separate cheque for some reason). I am at work and wont know if the postman has brought me a nice letter until I get home!! I am going home early to check and if its there it will be straight to the bank - but I am not holding my breath I bet the cheques havent even been sent out yet!!![/QUOTE

Talk about dragging there heels hun, everything crossed that they are sitting there when you get home .

Left work early (main reason was because of a planned family event) and to my astonishment there was my letter from First Plus with the cheques enclosed! So they took it right to the wire and left it until the exact final day - in other words the full 8 weeks to the day!!! But at least its here now and in my bank clearing - I am off work on leave next week and the cheque clears on Monday - oh what fun I am going to have, my husband is a tad worried!!!

I hope everyone waiting on First Plus all get their payouts soon but be prepared to wait the full 8 weeks.

dilus

Dizzywithmoney wrote: »

nutty_nat wrote: »

Left work early (main reason was because of a planned family event) and to my astonishment there was my letter from First Plus with the cheques enclosed! So they took it right to the wire and left it until the exact final day - in other words the full 8 weeks to the day!!! But at least its here now and in my bank clearing - I am off work on leave next week and the cheque clears on Monday - oh what fun I am going to have, my husband is a tad worried!!!

I hope everyone waiting on First Plus all get their payouts soon but be prepared to wait the full 8 weeks.

WTG Dizzy :beer::beer: and retail therapy without the debt, well done :T

susiesweetlips

Hi Kuffs,
NO, I don't think you are living in cloud-cuckoo land, but it sounds as if you are just coming at it from the other direction, if I understand what you are saying, rightly.
My offer letter laid it out like this:
PPI Premiums Paid = £xxx
Refund of Interest charged on PPI premiums (i.e. the overpayment of Interest) = £xxxxx
8% Interest = £xx

So, the short answer is yes. Your sister should have the overpayment of Interest refunded.
Hope this helps.
Louise xx

.....p.s. .....and yes...he does sound like a numpty

minimad69

conkerlily123 wrote: »

So That makes it £13,963 total refunded:j:j

Just goes to show that even if you get knocked back first time, keep at it, good things come to those who wait!!!!

congrats, great win.

How long did it Take Barclaycard to uphold the complaint after it been re-opened??? I have a similar situation with barclaycard about a morgan stanley complaint, first they didnt uphold so i complained and it was re-opened

spaniellover

Dizzywithmoney wrote: »

nutty_nat wrote: »

Left work early (main reason was because of a planned family event) and to my astonishment there was my letter from First Plus with the cheques enclosed! So they took it right to the wire and left it until the exact final day - in other words the full 8 weeks to the day!!! But at least its here now and in my bank clearing - I am off work on leave next week and the cheque clears on Monday - oh what fun I am going to have, my husband is a tad worried!!!

I hope everyone waiting on First Plus all get their payouts soon but be prepared to wait the full 8 weeks.

So pleased you received your payment, long wait but I'm sure worth it. :beer:

Matryoshka

Good luck for today folks :T

smitchy73

Kuffs1978 wrote: »

Hi guys and gals,

I hope the successes and happiness have continued within our little community today.
I'd like to begin by giving a bit of advice to the folks reading our forum for perhaps the first time and maybe considering using one of the claims management companies. If so, please listen as I say this loud and clear. DO NOT APPROACH THESE PEOPLE, EVEN IF YOUR LIFE DEPENDS ON IT. I had the misfortune of speaking to one of these muppets, from a well known company, today who told me in one breath that Norton had rejected the final response from the FOS, and then later that my sis would be receiving all the ppi premiums, plus 8% and a further £200. As my sister's carer, I then spoke to him and asked that, since the ombudsman had ruled that my sis should be now be put into the same position as she would have been in, had she not purchased the ppi. My question to the guy at the CMC was then what would happen to the overpayments she had made, and have him a hypothetical situation where if she has paid £300 per month, when she should have only paid £225, plus the £32 in ppi, what would happen to the remaining £43; the 'change' as it were. The guy didn't understand, so I broke it down as if you were paying for an item cost 48p and another for 22p, with a £1.00 coin, asking where would the excess 30p go? He said it went to the insurance company, and we'd need to lodge a separate complaint to get back the overpayments on the loan. This disturbs me greatly, as if my sis still has to pay the £3000 left on the loan, even though she's already repaid £11,718.66, which is more than 48 payments of the amount she should have been paying without the PPI (£225 Per month I think) she'll end up having repaid nearly £15,000 anyway, which is just as much as if the ppi had run for the full 60 months. This is very confusing, as surely a loan of £10,000 at a rate of 10.89% shouldn't be much more than £13,000 on total (according to GE's website) and she'll have made over £2000 in overpayments.
Does anyone have a better idea of what happens now? Surely the overpayments, excluding the PPI premiums, go towards paying the remaining balance. Or am I living in cloud cuckoo land? The numpty at the CMC couldn't tell me, so we're in the dark again.

hI kUFFS,
I don't think this is right at all, and after all you and your sister have been through with this.
Is your complaint being handled by a CMC then? I'd go over their heads and go to the CEO explaining all of this, I know some of the other regulars will be better placed to help you with this one. It's a bit over my head, I always think it should be just returned to the basic loan plus interest, then everything you've paid to the loan is taken off, basically the monthly ppi plus it's interest is removed from the normal monthly payment and you get refunded all the extra payments youv'e paid plus the 8% interest from when each payment was made.
Perhaps a call to the FSA could help, they may even phone them for you, sounds like the CMC don't know their a$$e from their elbows, just like the banks:mad:

hugobiano

Hi Folks, first time claimer so looking for guidance etc.

My wife over the years has had a number of credit cards/loans all with PPI. Having looked into misselling I honestly believe my wife has a good case on a number of her cards/loans.

My case for misselling is that her work would have paid her on full pay for 6 months and half pay for a year. The value that would have been repayed by any cover would have been a fraction of this and had this been made clear at the time of purchase then she wouldn't have taken the insurance out as its a no brainer.

In the case of an RBOS loan she had she was effictively told that if she didn't take out Loangaurd insurance then her loan application would not be looked upon favourably. A clear case of missold insurance and for that reason I've lodged a complaint with RBOS.

Do you think I have a good case and if so then would the same circumstances apply to the RBOS credit card she had.

Any feedback would be appreciated.:):)

smitchy73

hugobiano wrote: »

Hi Folks, first time claimer so looking for guidance etc.

My wife over the years has had a number of credit cards/loans all with PPI. Having looked into misselling I honestly believe my wife has a good case on a number of her cards/loans.

My case for misselling is that her work would have paid her on full pay for 6 months and half pay for a year. The value that would have been repayed by any cover would have been a fraction of this and had this been made clear at the time of purchase then she wouldn't have taken the insurance out as its a no brainer.

In the case of an RBOS loan she had she was effictively told that if she didn't take out Loangaurd insurance then her loan application would not be looked upon favourably. A clear case of missold insurance and for that reason I've lodged a complaint with RBOS.

Do you think I have a good case and if so then would the same circumstances apply to the RBOS credit card she had.

Any feedback would be appreciated.:):)

Hi Hugo,
Yes sounds like you have a good cause for making a complaint of mis-sell, I've had compaints successfully upheld by RBS just waiting on payouts, I just filled in the FOS questionnaire from in the 'Reclaim 1000's' section, and I filled in one for each loan or credit card,(remember to keep a copy so that if you need to go to FOS you have it ready) if you have the loan account numbers this is all you need to submit your complaint, if you have copies of bank statements or loan agreements you can send a COPY of them, keep the original, and I sent all of mine's Special Delivery to their address at Hardmans Boulevard in Manchester if you need the particulars let me know.

Good luck and if there's anything else just ask and we'll be happy to help:D

nutty_nat

dilus wrote: »

Dizzywithmoney wrote: »

WTG Dizzy :beer::beer: and retail therapy without the debt, well done :T

So pleased hun your cheques have arrived :beer::j.
Enjoy your retail therapy next week . x