PPI Reclaiming successes and failures

amersall

Placida wrote: »

thanks amersall-will try to post figures later when I can think how to shorten them! I am lucky in that my complaint has been dealt with in such a short time compared to others-I only complained at the beginning of August:) It's complicated to understand (for me) because it involves several loans of which only 2 had ppi and I am still paying for a current loan-though no mention of restructuring it.
Their offer is just over £8,000 which is not to be sneezed at but their calculation tables are not in chronological order so methinks I will need a few hours to make sense of them:o

As I said in earlier post, Barclays referred to earlier letter in which they supposedly upheld my complaint.NOT RECEIVED I saw another poster had said exactly the same thing yesterday. They must be in a rush to clear backlog! They have not given me a date by which they will pay money into my current account. Though that probably wont happen any time soon.

How helpful are Barclays at answering phonecalls about their offers?? Guess I will just have to find that out:(

Hi there, yours is not complicated!!.
You had 2 ppi on 2 loans,take the whole ppi amount for each loan,this is what you get back,plus you get the ppi monthly amount with the 8% back to you.

Loan 1,you get the whole ppi amount back,plus the ppi you paid to date with 8% interest,if this loan was settled early you would have had a rebate of ppi,so they take this amount off your redress.

Loan 2,the remaining ppi from the first loan (after the rebate) you will get back,plus the whole of the ppi on this loan,the payments returned to you that you made plus 8%.
If the 2nd loan is still running,your loan amount will reduce by the whole ppi amount on this loan,and your monthly ppi payments you made back to you with the 8%,your loan monthly payment will reduce by the ppi monthly amount to the end of this loan.
If the loan that is still running,and other loans did not have ppi on,then you have nothing to come back and the loan will not be restructured.
Does this help?.

amersall

:j:jMore congrats for wins after i posted this morning:j:j:j

Well done folks :money:

anne47

Hi All ,

The sun is shining on the Isle of Lewis today ....well not literally but in my mind it is !!!

Some of my RBS payment came today !!! Not due till the 11th November but when I checked my A/C this morning there it was ...not the full amount though , 1 payment of £567 still to come and also all the interest . I got a big shock to see it there especially as I had a letter last week saying they were 3/4 weeks behind with payments !

So who knows , perhaps all you RBS customers won't have to wait the extra weeks after all ...hope not .

Cheers , Anne x

The_Marksman

anne47 wrote: »

Hi All ,

The sun is shining on the Isle of Lewis today ....well not literally but in my mind it is !!!

Some of my RBS payment came today !!! Not due till the 11th November but when I checked my A/C this morning there it was ...not the full amount though , 1 payment of £567 still to come and also all the interest . I got a big shock to see it there especially as I had a letter last week saying they were 3/4 weeks behind with payments !

So who knows , perhaps all you RBS customers won't have to wait the extra weeks after all ...hope not .

Cheers , Anne x

Great news well done ............:j

sorryitsme

I have just had another upheld by Barclays, this time it is for a Business Loan. I am going to be refunded £1173 which will come in handy for the business. :j

When I recieved the upheld letters for my previous loan and overdraft protection, it didn't mention anything about deducting tax from the 8%, I queried this on the phone and they said I didn't need to pay anything.

On Business loan upheld letter it states I need to pay tax on the 8%, should I assume with the overdraft proctection and personal loan that they already paid on my behalf the tax on the 8%?

Also for the business loan they gave a breakdown on the premiums although they didn't do this with the overdraft protection and personal loan.

Does this breakdown look ok? (The PPI was front loaded)

LOAN £5,000
DURATION: 60 Mths
DATE TAKEN: July 2007 (6mth payment holiday taken so only 2 payments made)
LOAN CLEARED April 2008
Mthly payment: £272 (inclusive of PPI)


BARCLAYS REFUND
Original PPI Policy Premium £794.70
Intrest incurred due to PPI £105.79
8% Per annum simple ineterst £272.48

Total value of refund £1172.97

Thanks in advance:A

JMVM

JMVM wrote: »

Hi everyone;

Long time reader, first time poster. First, congrats to all that ones that already have got some of their own money back from the banks. Well done.

My story is similar to a lot of ppl here.

In between loans and CC, found myself owing the banks £25.000 +/- a few years ago. Had to go to a debt managing agreement to repay all (tahnks Payplan)

Anyhow, in September this year, my debt was roughly £8000.00, and after reading Martin's guide, and all the experiences a lot of you guys had, contacted Lloyds and Halifax regarding PPI.

Halifax CC was taken on line, so no claim. Fair enough. Lloyds (2 loand and 1 credit card) was another story. First call I gave them all details of CC and loans. Fine, we will start your claim. Letter received a week later, the usual bla,bla, but only acknowledging CC claim. Another few phone calls, and eventually all claims noted (at the same time they send you the £0.01 letters when there is a payment adjustment. Priceless, as this letters cost more than the £0.01...)

Anyhow, to cut a long story short, received 2 acceptance letters;
1st, dated 15/09/10 - CC acceptance for refund of £8318.43 (still waiting payment, no dates given, so on the same boat as everyone else waiting the dreaded 8 weeks or more...)
2nd , dated 07/10/10 Loans acceptance for repayment of £5948.58, that they will have to sort out in 21 days....


So hopefully, all will be done soon, once money is received I will sort out my remaining debt, and hopefully have a very nice Christmas...

Just to follow up with this post of mine. Wife called me in at work today, to say that cheque for £8318.43 received today from Lloyds!

I can now write off my remaining debt!

Now just the loans payment to go.

Sweet crimbo on the horizont :j

Thanks for all the good tips to everyone on this site.

vuittondreamer

Just had a little more success from egg £503.93 and they included 2 late payment fees too. i'm gonna try all my old cc companies now

Placida

amersall wrote: »

Hi there, yours is not complicated!!.
You had 2 ppi on 2 loans,take the whole ppi amount for each loan,this is what you get back,plus you get the ppi monthly amount with the 8% back to you.

Loan 1,you get the whole ppi amount back,plus the ppi you paid to date with 8% interest,if this loan was settled early you would have had a rebate of ppi,so they take this amount off your redress.

Loan 2,the remaining ppi from the first loan (after the rebate) you will get back,plus the whole of the ppi on this loan,the payments returned to you that you made plus 8%.
If the 2nd loan is still running,your loan amount will reduce by the whole ppi amount on this loan,and your monthly ppi payments you made back to you with the 8%,your loan monthly payment will reduce by the ppi monthly amount to the end of this loan.
If the loan that is still running,and other loans did not have ppi on,then you have nothing to come back and the loan will not be restructured.
Does this help?.

Thanks amersall
Thats what I thought.

Here is the calculation for the biggest loan-loan 3 out of a chain of 5 Loan 1 also had PPI
loan amount £17700 taken out in November 2005
I paid 23 x £92.4 =£2,125.20 in ppi payments before it was settled early when I cancelled the ppi and took out a new loan

A original PPI policy premium £5334.19
B interest incurred due to ppi
this is the amount of interest charged due to ppi policy £1131.95
C 8% per annum simple interest £885.37
D less any previous successful claim £0.00
E less early settlement £2644.70
F less any previous refunds made directly as a result.. £0.00

G PPI refund due (A+B+c)-(D+E+F) £4706.81

you are also entiled to the following refund relating to the PPI policy connected to the previous loan;

H overpayments due to residual PPi £413.52

I Additional 8% simple interest payable due to residual PPI
£62.12
J less any previous rfunds in relation to residual PPI £0.00
K refund due to residual
PPI = (H + I -J) £475.64

the refund of £4706.81 and 3475.64 totalling £5182.45 will be made by way of a credit to XXxxx

I dont understand how they reached the figure in B (interest incurred due to PPI) and H I J & K amounts:o

Any help gratefully received. Wonder why I dont trust them to have worked it out correctly?:(

amersall

B interest incurred due to ppi
this is the amount of interest charged due to ppi policy £1131.95

This is what they put on the ppi at loan start to run over term.

H overpayments due to residual PPi £413.52

This is h i j.You get the residual back
This is what they owed you from the ppi that was carried over with 8%.

Where is the ppi from the residual loan? if there was any on there.

You said your total win was £8000 and you had 2 loans with ppi,is that right? if it is,then the remainder is the other ppi with 8%.

sweetdaisy

Just thought that I'd post my PPI success.

Took a 3 year loan out for £3,000 from Halifax in 2003. I made a claim for PPI in August and have been paid £1,800 (including interest) .