PPI Reclaiming successes and failures

amersall

Kuffs1978 wrote: »

Hi guys and gals,
It seems like ages since my last post, so hope everyone is keeping well and enjoying plenty of successes!

You may remember me mentioning that I don't believe my sister should have been granted the loan with GE in the first place and has been paying dearly for it every since. I'm in the process of putting all the evidence together to present to the lady at the FOS who said that we have grounds to start a new claim against GE. What I am looking to you kind folks for is any knowledge you may have regarding missing payment charges, and from a legal point of view, what the maximum they should be. The reason I ask this is because we received a letter from GE on Monday, quoting the repayment balance to be £13,484.20 on the 27th of April, with a further £150 paid this morning. GE have agreed that with the (deep breath!) wretched PPI added to the loan, upon full repayment it should have cost in the region of £14,800. If the cost of the PPI whilst active (and interest, as calculated by FOS) totals £1493.38 and was deducted from the £14,800 that means the cost of the loan would have been £13,306.62 which is roughly in line with what was quoted on the loan agreement.
Yet whilst bearing in mind the £13,484.20 which GE have committed to paper having been repaid, they claim a further £2327.59 remains as the outstanding balance. Upon full repayment this would mean that a loan (and mis-sold PPI) would cost my sister £15,811.79 which is over £1000 more than it should have cost (even whilst the including the PPI). Now GE contacted us back in October last year, acknowledging that of the £300 in missing installment fees charged on the loan, my sister was not actually liable for £270 of them, and they offered to remove the £270 of charges from the outstanding balance, plus interest. Ok, it took them until March 2012 to do so, and only the £270 was removed, not the interest. But even with the full £300 in missing installment fees removed, that means that GE have applied a further £700 in charges. Can they really do this? In the same letter they've argued that as a company GE are exempt from the Social Security Administration Act 1992 which states that people on certain benefits (DLA and Income Support in my sister's case) cannot have certain charges applied to their accounts by finance companies/banks. I'm just lost for words really; £700 is a hell of a lot of money, and if they don't reflect missing installment fees, what on earth do they relate to, and more importantly, can GE actually get away with this?

Cheers.

Cannot believe they are still on with this :mad::mad:
The laws surrounding interest and how loan companies behave with the charges etc is not something I am familiar with, let the FOS handle this, hopefully your sis will get this settled and finished x.

twistedfoot

Hi all,
Just to let you know i applied to Egg on Feb14th, thought id call and ask about PPI and they asked if i wanted to make a complaint and i said yes. I never thought anything of it. I received a letter about 2 weeks later stating they would look into it.
I returned back from a week in Skiathos on the 20th April to a letter stating i was due a cheque for £6636.00 and £1600 was being paid back into my loan to put me back to date. I received the cheque today and have just been and put it in the bank.
I have also now applied to MBNA, Black Horse, Capital one and Morgan Stanley and Monument.
I can honestly say i was not expecting anywhere near that amount just a small sum in the hundreds and i would have been happy. But now I'm ecstatic.
I can also honestly say i was not even going to bother applying but my goodness i am soooo glad that i did.
Best thing ive done in ages.

madmabel

Is it a good sign if the bank takes the full 8 weeks to look at your claim? Just wondering if they have grounds to turn you down flat would you hear from them sooner? Ive made a few claims and on one the 8 weeks is almost up and I've been told over the phone they've started to look at my claim but they're going to need the full 8 weeks.

dai1927

Had a reply off Barclays rejecting my complaint on 2 loans i had with them, reasons i gave for mis sale were that i was pressured into taking out the PPI as loans would not be approved and that both were front loaded.:mad::mad::mad:

bboyle

Hi
I sent a letter to Egg and got a letter back today with the usual forms, just a question I got this card online, can anyone advise if they took their card online and what did they put down on their form for the mis selling.
Cheers

Evileddie

I have recieved my letter from HSBC concering one credit card and various loans....

I feared I would be one of the people to get nothing....

They have upheld my claim! and offered me a settlment of :j5,920.89!!!:j to say i'm exstatic is an understatement!!

All it took was one phone call to HSBC and one form, I would urge people to DO IT YOURSELF I was going to use a ppi company but with the excellent advice and help on this forum I did it myself.

Thank you all for the great advice, I can't believe it, I'm debt free for the first time in 19 years! :T:T:T

roseangel

Hi
I have been following this thread with great interest.
We started our claims in late february and our success so far is as follows:

Lloyds TSB upheld £7216
RBOS credit card £ 255
RBOS loan £2178
HFC loan £92

Barclays still waiting
HFC/ Beneficial SAR sent
MBNA SAR sent.

All has gone well and all within the expected time frames we are so pleased.
Regarding the beneficial accounts which are very old. We had no ac numbers and no paperwork but I do know there was ppi on these accounts. HFC who were beneficial said they had no record of these but a tip which may be of use to someone is that I got the ac numbers by ringing what was secure homes. They were so helpful and found all three account numbers for me and then sent copies of screen shots for me showing the account numbers. So waiting for the SAR to see if they go back far enough.
I would just like to congratulate those who have had success and wish well to those still waiting.
Many thanks to this site for the wealth of info and help it offers.
:T

mwells66

made a claim for ppi on Cap1 card, received reply within a few weeks and now just over 8 weeks later have received a letter asking for proof of income from 2002. made the claim on grounds of no conversation on T's & C's I had pre-existing medical which was not discussed. So why would they want proof of income?

Di_L

dai1927 wrote: »

Had a reply off Barclays rejecting my complaint on 2 loans i had with them, reasons i gave for mis sale were that i was pressured into taking out the PPI as loans would not be approved and that both were front loaded.:mad::mad::mad:

Hi Dai,

Sorry to hear this

Can I ask how long did you had to wait for your reply

amersall

dai1927 wrote: »

Had a reply off Barclays rejecting my complaint on 2 loans i had with them, reasons i gave for mis sale were that i was pressured into taking out the PPI as loans would not be approved and that both were front loaded.:mad::mad::mad:

What did they actually say in the rejection? the front loaded should have won this for you.