PPI Reclaiming successes and failures

[Deleted User]

Help_Needed wrote: »

Hopefully now that Santander have all info. I will get a response v soon.

Best wishes

amersall

pwppio wrote: »

Yes, the loan is still live for £8000. The other £53000 we paid off and put on our mortgage in 2008, but that £12000 is still costing me money.:mad:

Lets start again!.
If you win redress on this live loan,the whole 12000 ppi comes off the balance :D this will clear the loan and give you some back, you will also get the ppi you paid each month on this plus the 8%.
This will leave the loan paid off and you get a nice amount back!.

amersall

lately wrote: »

Thank you for your reply and sorry for my late answer, I have been out and about.

I was not in arrears (never have been).
In the offer letter (dated 22 dec didn't arrive until early Jan) it explains how they arrived to the offer figure of £10,779.43:

Loan 1 (taken Dec 2003)
Refund of Premiums £2,044.79
Interest at 8% calculated until 10 Jan 2012 £1,112.77
Total £3,157.56
Loan 2 (Refinanced Jun 2006)
Refund of premiums £4,914.12
Interest at 8% calculated until 10 Jan 2012 £1,448.91
Excess balance and interest (see explanation*) £1,258.84
Total £7,621.87
*Excess balance and interest
This is an additional payment we offer to refund the extra amount you paid when you refinanced the Loan/PPI which we are offering to refund. As your earlier loan included PPI the outstanding balance on that loan, which you carried over to the next loan, was higher than it would have been without PPI and therefore you paid a higher payment and more interest when making your repayments on the next loan. Our offer of the excess balance and interest is a refund of the extra amounts paid by you with associated interest

Is this kind of information the norm?
If it is right or wrong I don't know!This is correct, so don't worry

On Friday morning I spoke to someone (pleasant and very helpful) in the loans dept, I repeated myself again and of course I got a completely different story again. A final statement was sent to me the day before and apparently this explains what exactly took place, how and letting me know that the loan is now closed. Apparently my February payment when towards my final balance and hence why the loans dept refunded the sum of £31.12 directly to my bank account and once that took place the account was closed. It is apparently normal procedure to only send a statement in relation to the closure of an account 30 days later. According to him the moment the Personal Loan Insurance is canceled they close the loan account, this took place on the 24 Jan (letter I received dated 24 Jan from the Lloyds TSB Creditor Dept).

I explained my concerns explaining that I am now almost paranoid since I have been told so many stories, I don't believe them anymore and I am thinking that if I deposit that cheque which would mean acceptance of the situation on my part (letter saying the complaint has now been closed) they will turn around and say the loan still live and the fact my loan information has dissapeared from my online banking was just a technical I T problem and it was there all along.
He tried to reassure me the best way he could by saying I promise you the loan is closed, please take my name etc...

This morning I received a Statement of the loan dated 22 Feb
Period covered by Statement: 1 Jun 2011 to 14 Feb 2012
For some reason it doesn't include my February payment and the balance as of the 3rd Jan was of £7,856.03 no mention of the account being closed which added to my paranoia!
I don't know what to think anymore but I want to be positive and assume that the letter will arrive next week sometime....

Should I complain now or wait until I have this elusive letter confirming the loan is closed? They had no right to do what they did, I should have been given the choice!:mad:
Complain now and put your mind at rest, they cleared the loan and they cannot have the paperwork by now to show this!!! beggars belief !!!

Once again thank you, I will update and congratulations to all on their good news.:T

Hopefully this wont take too long and you get the letter saying the loan is closed.

amersall

pwppio wrote: »

The PPI cost was approx £12,000 and The total cost of the PPI interest over the loan term would have been approx £25.000. Although I paid off some of the loan early (£53.000), it was consolidated onto my mortgage to make it more affordable, so will they consider the interest that I am still paying on it across the term of my mortgage? Can I argue that this is still costing me a fortune each month?
There is currently approx £8000 still on the initial loan itself. We cancelled the PPI after 1 year and got approx £1400 back:(

I wish you could complain about this, but you put this on your mortgage so it was your choice.
It should save you money though as i am sure the rate of the loan was more than the mortgage?.
You will still get the 12000 off the loan, as it is still on the loan you are paying, less the rebate they gave you, the payments that you made for the year with the 8% will be returned to you, at least you will get something.
Good luck and let me know what happens.

amersall

earlybird1984 wrote: »

Had a letter from MBNA today saying I will get £2504 back within the next 28 days!!! :-) Only had to send one letter! Fingers crossed I will hear back from the others soon.

I have been offered a partial refund from Monument who said they werent in the wrong as was payment break plan not PPI should i reject this and go for the entire amount and interest? If I say im not happy with this could the say tough and or would they just say that is the final offer? Not sure how it works??

Ask them why, if they were not in the wrong, are they offering you part payment?, explain why you did not want this plan and would like all premiums paid with interest or you will take this to FOS.

amersall

teleop wrote: »

Thanks Amersall i already have a claim in with Halifax. Put it in end of Jan. I didnt need this PPI a i was covered at work full pay if sick , redundancy package & life insurance. They never established if i needed PPI .Wasnt till i found this forum that i thought im gonna give it a go. I have had a few loans with them never paying one off just topping up all the way . Hope im in with a shout. Thanks again for the advice given much appreciated .:D

You are very welcome x fingers crossed.

amersall

terence13 wrote: »

Hi
Looking for a wee bit advice

I sent away a FOS questionnaire to Sainsbury's bank a fortnight ago recorded delivery. Have not received a letter to say that they have received this (sent to Sainsbury's and not BOS). Is this normal or should I send away again - to BOS.

Emailed Bob Diamond on Wednesday about the delaying tactics by Barclaycard and have not heard anything back. Is it too soon to expect a reply or should I send another email

Give Sainsbury bank a couple of days and ring them, ask if they have received this, they may have passed this to BOS.
If they have not received this, then send it again to

Payment Protection
Insurance for your
Loan & Credit Card 0845 601 4034
Sainsbury’s Bank introduced customers to Bank of Scotland to provide payment protection, therefore please contact:
Bank of Scotland
Po Box 761
Leeds
West Yorkshire
LS1 9JF



It should not be too long before you get a reply to the Barclay email,if you hear nothing by tomorrow then send it again.

Stundun

So,

I have sent one of my rejections (Egg) to the Ombudsman and had a reply giving me a timeframe (ages lol).

I also just sent 2 rejections for my good lady to the Ombudsman (HSBC & Barclays) and expect a "holding" letter soon.

Has anyone one been through this process and come out the other end yet?

Did you win? How did the bank at fault reply? If you won, does an offer come through the bank or FOS?

Did you lose?

Do we have any ratio for win / loses with the FOS involved as above?

Just curious.

teleop

Was wondering about reply from monument stating they will not pay back Payment protection break ,as in the last 6 years i havent paid this as it was stopped, and they say that they do not go further back than this , is this right. Should i take it further or is that as they say final. i paid this ins for about 6 years previous to 2006 , unaware of course & def not needed as covered with everything form work. Can someone please suggest anything or am i wasting my time. Thanks once again in advance especially to Amersall & Dilus for there much appreciated help & encouragement in the past. Congratulations to all who have won lately on here Brilliant. I am expecting a few letters in the next couple of weeks hopefully with good news from various claims.:D

teleop

Stundun wrote: »

So,

I have sent one of my rejections (Egg) to the Ombudsman and had a reply giving me a timeframe (ages lol).

I also just sent 2 rejections for my good lady to the Ombudsman (HSBC & Barclays) and expect a "holding" letter soon.

Has anyone one been through this process and come out the other end yet?

Did you win? How did the bank at fault reply? If you won, does an offer come through the bank or FOS?

Did you lose?

Do we have any ratio for win / loses with the FOS involved as above?

Just curious.

Sorry hope u dont think me thick but what do u mean by a holding letter. Good luck anyway with FOS.