PPI Reclaiming successes and failures

karenb7740

Hi does anyone have any advise regarding this please.

karenb7740 wrote: »

Hi. I was wondering if anyone would be able to give me some advise. My Husband has received an offer from Tesco for a credit card that he holds with them. The card was opened in August 2001, and we cancelled the PPI insurance in 2006, when we realised it was on the card. We still owe money on the card and it is being paid via a debt agency on Tesco behalf, which we pay a regular amount each month.
The offer states first, that it can only refund back to November 2003, as there records do not go back any further, but if we have statements from August 2001 to October 2003, they will refund these. Is this the norm?. Secondly, it states that as the credit card is in arrears the monies will be applied to the credit card. Is it compulsory that they do this with all of the refund including the interest. Should we not be entitled to any of the funds.
We are very pleased that they have given us the offer but it would have been nice to have received a bit of the £3500.19 that they have offered us.
Any advise would be appreciated.

di3004

Well done and Congratulations to all today's winners! XXX :beer::j:T:beer::j:T

Rae115

Rae115 wrote: »

Hi all - just an update as its been a while ive posted.

empire/redcats - with the fos now :mad:

black horse -with the fos :mad:

barclays - i sent 2 emails to email to the ceo last week, had a letter dated 24/10 syaing the are looking into my complaint however a letter dated the 18/10 was sent to me with the redress figures and i should receive payment in 40 days.:j BUT WHERE IS MY LETTER**DATED THE 18.10 :mad:????? ***called barclays today 28/10 the redress is for just over 3K - now this was for a loan back in 2003 where only 1 payment was made loan was only for 7.5K

CITI - there case is the the fos- i have however received a redress (1st week Oct) calculation only the 8% so ive queried where is my 29.9% thats been paid on the card.

Halifax mppi 1-2003-2007- acceptance and cheq £359.+pence full reimbursement + 8% :j:j ***cheq recvd ***

halifax mppi 2- 2007-2009 - just over 1600 await cheque :j:j

Halifax cards - £1655.00 taken off outstanding balance, only owe them £502.00:j:j (sent acceptance 2 sept) **checked online today they have raised a cheq for the 1655.00

(i think thats it - cant think of any else)

Barclays addiditon Plus account i previously canx this but they didnt and they told me no refund. sent letter to the fos. Letter today offering me 256 reimb for the charges.

well done all winners and just hang in there. PLEASE

Sandyhills

Placida wrote: »

I have today received a letter from Barclays telling me that "in a previous? letter we outlined that we have upheld your complaint and that we would get back to you in 40 days with a breakdown of your refund etc" and their offer.

However I have not received any letter from them except the one telling me I would hear their decision by November 4th!

The offer is not as much as I expected and to be honest, I don't understand their calculations!
They are crediting the amounts to my current account but make no mention of when!!
Can anyone offer to look at the calculations as as they cover several loans, I would be typing all night.:(
Can I attempt to contact them to discuss this? They have stated they have enclosed a copy of the leaflet "your complaint and the Ombudsman etc.." Except they haven't

Help would really be appreciated
Thank you

congratulations to you I have a claim in with them and I am now on my 18 weeks waiting the result on my claim. Have written already to Robert Diamond and was told tday that I am getting a letter sent out to me asking me to be patient with them and hoopefully they will have a resolution soon.

trish22_2

di3004 wrote: »

Hi Trish

Have you tried writing to them, and ask them to reconsider, and also give the information as you have done on your post above.
I would give them any further info that you think that may help and tell them your not happy with the decision made and feel its not investigated properly.
Give them 14 days and if you hear nothing, or if they do not change the decision, move on to the ombudsman, good luck.;)

Hi Di,My hubby contacted Barclaycard has he did what you suggested,there answer was as the letter he received was a final letter,they are not at liberty to answer it or acknowledge it,that was that,so it has now all gone to the ombudsman.
Thanks will keep you updated

AnnaSafina

My husband and I took out a secured loan, in 2001 and subsequently refinanced it in 2004. We settled the loan out of a property sale and within the settlement amount paid PPI + interest. We posted our PPI claim direct to First Plus in June this year and got our letter at the end of September. Great news for the cost of 1 stamp... a refund over the 2 loans amounts to £14,000. Please remember people that you do have to pay tax on the 8% extra they give you back, so we are expecting only to receive the balance of £13,000, tax is charged at the high rate of 20% although the actual return of the PPI and any interest you paid over the term of your loan is not taxable. You need to be aware that not all company's deduct the tax at source and you WILL be liable.:j
We have also made a claim to Black Horse and Barclays, Black Horse have rejected our claim however we intend to take this to the ombudsman. Barclay's have agreed to pay out... so yet again another £6.500 back in OUR bank. If you haven't already done this then go do it... why should the banks sit on your money!!! Good luck..:T Just waiting for those lovely cheques to arrive now!

Maxrara

Originally Posted by Maxrara

Hi folks It was suggested that I bump this post onto here for advice/comment. You may need to know that part of the 'deal' is that I must not publish/discuss etc details of this offer but I have taken the view that any decent 'fair' company (which I am sure the one I am dealing with is) would/could not prevent me form discussing with my advisors (you lot) this reasonable but complicated offer - in an attempt to understand it.

Thanks

Okay here goes.

Single front loaded PPI - Insurance covered the first 5 years, and although a joint loan only covered the main bread winner. The insurance is now expired but the loan is current.

Rough breakdown of offer as follows:-

Cost of PPI 51/2k
Amount paid 5k
Notional redemption cost of PPI 3k(not sure what this is?)
Total 8k
Simple interest 500
Deduct the cost of equivalent PPI (that old chestnut!) 21/2k - Been retired 3 years (just started self employment this year!).
Total to be paid 6k

There is no mention of any adjustment of the existing loan, also no redress of interest/charges etc due to some missed payments (now caught up). Also no word with regard to a previous loan (which also had PPI) which rolled into the present one.

This offer was suppose to put me back in a position that I would have been in if I didn't have the PPI but I can't be sure that this is the case. Funnily, they state that the calculations are only 'broadly' in line with the FOS.

Is this a fair offer?

milkyshake68

Advice please Lloyds
This is part of an email I received on Monday from Andrea


I can confirm your refund has been completed by our Refunds Team and was sent by BACS payment on Friday 21 October 2011 this will credit your account by the end of the week. This means that the PPI refund will be issued by the Personal Loan Service Centre to your bank account and they will then apply the credits to the policy to restructure it. Therefore your loan will be restructured by the end of the week.

I received premiums and interest of 2 closed loans and interest of open loan but I am still missing £4331 which I am told is the premiums on the open loan.As of yet my loan has not been restructured and the loan centre dont know where the PPI refund money is? My loan balance is only £3500 as they have taken another loan payment + ppi today. The credits paid total £3240 does that mean if they ever find the money that they would pay me £4331 and my loan balance would drop to £260 or am I completely wrong........

AnnaSafina

HAVEFAITH wrote: »

Hi I've just had an offer from First plus ... do they take long to cough up their promise?

Hi,First Plus take 6 - 8 Weeks to pay out after they receive your acceptance. I am still waiting, I calculate I should have mine by beginning of December...:T

milkyshake68

Hers a bit more info relating to my claim............................. Got my upheld letter 29th August and my calcs letter 16th Sept.
When i spoke to helpline this morning they said missing premiums had already been credited to my loan account and I had been paid the refund at the start of October, and the money that went in this week via BACS was the balance of my refund!! But I havent had any other money and my loan balance is the same as it was, minus the payment I made today!!
I thought I was finally sorted on Monday but obviously not!!