PPI Reclaiming successes and failures

darrenkaye

reidy666 wrote: »

Hi.i wonder if anybody can give me a bit of advice.I took out a Bank Of Scotland loan of £3000 pounds in 1999(it was done over the phone)i cant remember if i took out ppi with this loan,but about a year later i took out a loan for £7000 and paid of the first loan with part of this,i have the paperwork for this loan which shows i borrowed £7000+£3500 ppi+about £3000 intrest,so i had a loan of £13500.So after that i had problems paying that back,so it eventually it went to a debt collection agency.So i payed it back through them for about 4 years,then i came into a bit of money and made them a offer to pay off the loan and they accepted.So i made my complaint against them in march this year,and i got a letter last week from them saying As our final response we are offering you a payment of £1141 to bring your complaint to a conclusion.The calculations are refund of premiums of £547 refund of interest £129 and finally interest at 8% of £465.Does anybody think i should accept this offer,or should a take it further.The Cheque arrived on friday,but i have not banked it yet.Thanks.

I'm not sure if anyone would be able to answer that without knowing how much of the total loan was eventually paid back?

If you can advise that I am sure people more in the know would be able to give you a better response.

Darren

reidy666

I am not exactly sure how much i paid back,but it was at least £12000.does anybody know what Blair Oliver and Scott the debt company would charge to collect the money for bank of scottland? Also has anybody on here challenged the amount they have been offered and what has been the outcome?

maxdickinson2003

Anybody got any experience of reclaiming PPI from central capital?

Farmerbob

Two successes here!

I got a letter from NRAM end of Feb advising I had a loan with them a few years ago and asking if I would be making a complaint about the PPI. I had not given it much thought up to then about applying for PPI back as I though it would be such a difficult process, however I thought "Why not" sent the form back. I also decided to look through my bank statements see if there was anything else I could claim back. In 2006 I paid off a loan with RBS, I was not sure if I had PPI on it but sent the standard form back on it the beginning of March.

I got my acceptance letter from NRAM beginning of May for £1051. Then Friday there got letter from RBS with an offer of £4645, turns out because I originally had a loan with them in 1999 that I kept renewing through to 2006 they reviewed all the loans in the chain and refunded on all 5 loans! So if any of you have done the same in the past and renewed the loans one after the other it is definitely worth looking into!

That'll be a bit more paid off the mortgage

Cheers to all the useful posters on here, great source of info to any questions I've had and good luck with your complaints, you'll get there in the end!

amersall

davand638 wrote: »

Thanks for the reply. I do have a copy of the agreement which shows loan amount and fact that PPI was selected etc. This was duly signed in store by staff member etc. is this the agreement you mean or something else?

Thanks.

You could try with the agreement you have (send a copy ), due to the year they may not deal with this, but you might as well send it for the price of a stamp.

amersall

greeneyes1966 wrote: »

I am very concerned that from reading their docs again that they "SAY" they will ask the bank to investigate all mis sold PPI you have with them, dont think they do anything if I have not given them the info first, think sending a letter will say I have more claims with that Bank!

The CC "HELPED" (which just means i send them all info from me and from the bank) with a Sainsburys Bank loan which paid £1122.28 PPI, but as they claim they ask the banks to investigate all miss sold, thay have not found that I have had a sainsburys Credit Card with PPI on it.
Thats what makes me think they do squat and recieve a payment for sending out generic letters!!!
Still a bit unsure whats the right thing to do:(

That is a shame, I thought they would have a claim for a fee for all PPI you have with the banks you mentioned, with the claims they have put in already you will just have to put this down to experience I am afraid, they will find the Sainsburys CC as Sainsburys will let them know, but at least you will get something back claims cos do nothing more than you can do and take a hefty fee for the privilage
But you know for the future:D

amersall

reidy666 wrote: »

Hi.i wonder if anybody can give me a bit of advice.I took out a Bank Of Scotland loan of £3000 pounds in 1999(it was done over the phone)i cant remember if i took out ppi with this loan,but about a year later i took out a loan for £7000 and paid of the first loan with part of this,i have the paperwork for this loan which shows i borrowed £7000+£3500 ppi+about £3000 intrest,so i had a loan of £13500.So after that i had problems paying that back,so it eventually it went to a debt collection agency.So i payed it back through them for about 4 years,then i came into a bit of money and made them a offer to pay off the loan and they accepted.So i made my complaint against them in march this year,and i got a letter last week from them saying As our final response we are offering you a payment of £1141 to bring your complaint to a conclusion.The calculations are refund of premiums of £547 refund of interest £129 and finally interest at 8% of £465.Does anybody think i should accept this offer,or should a take it further.The Cheque arrived on friday,but i have not banked it yet.Thanks.

Have you the breakdown of this PPI ? if they have not looked at the first loan then write back and ask them to look at the 1st loan as this was paid off with the loan they have redressed.

With the loan they have redressed, this loan did not run to term and you defaulted so the monthly payment was reduced, you also settled this in full and final earlier than the full loan term, these affect the payment you have received.
Ask them for a breakdown of this redress, you need to know the original PPI amount, the date it defaulted, any arrears that were on there, it is possible from the date you defaulted you would have not paid any of the PPI anyway, without the full breakdown we cannot help you.

For PPI redress, if a loan is closed they give you the whole PPI amount back with the 8%, less any rebate if you settled the loan early.
As you defaulted and took a full and final, this affects the redress you get.
Without the figures, you cannot decline this offer as it may be correct.

amersall

maxdickinson2003 wrote: »

Anybody got any experience of reclaiming PPI from central capital?

CC are not quick off the mark but they do get there in the end, is this a loan? if it is, what was the date you took this out and was it CP or a broker that did the loan and PPI?.

amersall

reidy666 wrote: »

I am not exactly sure how much i paid back,but it was at least £12000.does anybody know what Blair Oliver and Scott the debt company would charge to collect the money for bank of scottland? Also has anybody on here challenged the amount they have been offered and what has been the outcome?

It is only the PPI amount that is paid back with redress and not the total you borrowed.

joools18

I have found a Marks & Spencer's store card statement going back to 2002 showing I was paying PPI, I have no idea how long i had this store card its converted to a credit card in 2005 which I still have to this date.

I am not paying PPI now but I have no idea when I stopped paying it.

Is it possible to make a claim.