PPI Reclaiming successes and failures

moomoo2_2

irishdave wrote: »

Hi guys, I have successfully claimed back over £4000 on 2 claims and also claimed for my family and had further success there. I have a question though.....

I have recently received word from Santander saying they are going to uphold yet another of my claims, this time a credit card which has been in action for many years but they have said it may take 8 weeks.

My cunning plan is this.... since they have notified me they are upholding it and therefore admitted to misselling and admitting to OWING me funds I see no reason why I should not charge them interest for the next 8 weeks or however long it takes.

Furthermore, companies like Wonga who "legally" charge circa 1500% apr on short term loans can get away with it then why can't I?

I plan to write to Santander informing them of "my current" interest rate of circa 1500% (yet to be decided) and that they will be subject to this rate from the moment they receive my notice until they settle the debt.

In theory I see no lawful reason not to as it is perfectly reasonable for them to assume they will owe interest on ANY debt and it is up to me to set my rates... surely.

ANY THOUGHTS?????

You are getting greedy through success, take a step back and remember that this money will come in during the new year, which is a nice bonus. 8 weeks isn't even as long as it takes DFS to deliver a sofa.

tifo

The service from Amex has been excellent. Offer sent within a week and another week to re-look at figures as they fell short of what i calculated. They upped their offer in a day and cheque was sent within a few days by recorded delivery. All took 3 weeks.

MBNA was good as well. Although they took 2 months to offer and cheque came within 28 days, it was still a painless process. For one account, they paid half but are re-looking at it.

Others took a while and some argument ensued, but in the end payment was sent. But once it got through to the PPI team, things moved faster.

Barclaycard and Santander being difficult.

I haven't received any offer from anybody else.

amersall

Mon_77 wrote: »

11 weeks into 12 week deadline ( complaint made Sep 11 ) LTSB have come back with an offer of redress. £6346.45 :j. This is for 2 loans. First loan start date 22/8/02 and second loan start date 10/12/04. First loan was settled early 24/04/03 and second loan settled early 2/08/06,

I have found 2 letters referring to the early settlement if these loans. They are both from LTSB Insurance.

On the earlier one ( 2003 ) it says " We have recently been informed that you have repaid your Personal Loan. We have now cancelled your insurance policy and a refund of £2160.12 will shortly be credited to your account."

On the later one (2006 ) the letter says " We have recently been informed that you have repaid your Personal Loan and that your loan insurance rebate of £353.14 was used to reduce your total outstanding loan amount "

Amersall is this technically shouldnt they take that amount into consideration as well and it is not a rebate as I shouldnt have been paying it in the first place ???

I can understand and accept that any redress which I get now is used to reduce my current debts but I shouldnt have been paying that PPI anyways and shouldnt they take that amount into consideration as well please ?

Hi there,technically you are correct,but they have given you the ppi back (the redress) so the rebate applied when you settled (this should apply to both loans) will have to be given back to them,as they have given you this previous.
Do you know the loan ppi and monthly payment that you paid?if you do and post up the figures (as these are settled loans i can roughly calculate these !!) i will see if they have given the total redress you should have.

What debts are they using to repay with your redress?.

amersall

:j:jWELL DONE TO WINNERS THIS WEEK :j:j:j
IF I HELPED IN ANYWAY YOU ARE WELCOME

MY BILL IS IN THE POST :rotfl::rotfl:0% AND NO VAT :cool:

sallyannetag

moomoo2 wrote: »

I sent a standard letter slightly edited to my own needs for reclaiming PPI to the Ulster Bank, I had no loan numbers or paperwork. 10 weeks later they sent me a letter telling me that I was getting a refund of over £2500 for PPI on my old loans.
In this time I have had calls, emails and messages from companies claiming to get back my PPI for 15-20% of my refund. That would have been £500 of MY money. Anyone who is stupid enough to use these vampires rather than simply sending a basic letter to their bank deserves to be fleeced.

Thank you goes to Ulster bank for an efficient and thoughtful process of reclaiming PPI. I always knew what stage I was at and they gave me various options to contact them if I had any queries.

I found Ulster Bank very easy to deal with also! They have a dedicated PPI team!

jeany78

Hello again! After going through some bank statements I have found some further direct debits which look like PPI. I woncer if any of you could confirm what CAIS COLL is? Someone on another website thought it might be Alliance Cornhill, I do have an account number. Also, has anyone sucessfully claimed against Countrywide? And is this Abbotts COuntrywide estate agents? (Direct debits are showing on statement as Countrywide ASSD and I do recall them pushing me to take out insurances for both unemployment and sickness when I took out my first mortgage.)

hiedi

moomoo2 wrote: »

You are getting greedy through success, take a step back and remember that this money will come in during the new year, which is a nice bonus. 8 weeks isn't even as long as it takes DFS to deliver a sofa.

I disagree - it's our money, why should they be hanging on to it?! How can it be a bonus when it's your own money someone owes you?

only_mee

They are already paying you 8% interest till it's settled, greedy git!!!!!!

tifo

only_mee wrote: »

They are already paying you 8% interest till it's settled, greedy git!!!!!!

Most don't when settling direct. Interest is paid up to the date of the offer letter and then they take 4-6 weeks to get the payment to you.

Only through the FOS do they pay interest up to the payment date.

Plus some people need the money. It's better to have this now than wait many weeks for a bit more in interest.

The banks can, when they want to, send you the payment within a few days of acceptance. I've had it on a few refunds. Depends if you can speak to the PPI team member and get is escalated rather than wait in the usual queue.

only_mee

tifo wrote: »

Most don't when settling direct. Interest is paid up to the date of the offer letter and then they take 4-6 weeks to get the payment to you.

Only through the FOS do they pay interest up to the payment date.

Fair few recently have paid interest 4-6 weeks ahead, because of the time delays, not sure if all FOS or not, never looked that closely tbh.