PPI Reclaiming successes and failures

happy1961

:jToday seems to be the day - RBS have started to pay my consolidated loans. The figures being paid equate to ppi premium and interest to date. The interest at statutory rate has not been paid, but the balance of my loan has gone done. Do I take it this interest has been offset against the loan - its just that I cant get the figures to equate to what has come off the loan balance. Any of you experts assist please.:T

moneys_2_tight_to_mention

Can anyone help me on the advisability of claiming back overdraft charges from a bank with whom I also have my mortgage. I'm worried that they will try and penalise me in some way.

amersall

swimmer66 wrote: »

Hi All

I had a smile CC from 2001 which had PPI and ran into trouble and could not afford the repayments in 2008 and after loads of threating calls and letters The co-op offerd me a loan in 2009 which was the CC outstanding amount plus over £3,000 interest so basically around a £12,000 loan the PPI I paid over the years is that right for them to put that in the loan amount ? (Thinking about it a bit of a silly question) .

It is not a silly question at all, I think as you were struggling to pay the CC and the Loan was more affordable to you at that time, then it did help you, the CC would have attracted more interest than that so in a way they actually did you a favour.

amersall

Benji_58 wrote: »

amersall you know how thick I am
Not sure if this is the correct information -' Debit account with the relevant monthly premium ' It says on the agreement form
Sorry if not understood what you mean

No, sorry, how thick are you? :rotfl::rotfl:

What are you like?, if you know something, that does not make anyone who does not know that, thick because it is a safe bet that they will know something you don't
On your agreement it should show the Loan amount and Interest, the PPI amount and Interest and then the monthly payment, if they total them up and the monthly payment is for one total amount, then this is Single Premium PPI and the reason you use for mis sell, if the PPI is shown as a separate monthly payment, then this is not.

amersall

moneys_2_tight_to_mention wrote: »

Can anyone help me on the advisability of claiming back overdraft charges from a bank with whom I also have my mortgage. I'm worried that they will try and penalise me in some way.

They should not penalise you in any way, this is treating you unfairly and you can complain to FOS if they do.

amersall

happy1961 wrote: »

:jToday seems to be the day - RBS have started to pay my consolidated loans. The figures being paid equate to ppi premium and interest to date. The interest at statutory rate has not been paid, but the balance of my loan has gone done. Do I take it this interest has been offset against the loan - its just that I cant get the figures to equate to what has come off the loan balance. Any of you experts assist please.:T

They may make a separate payment for the 8%, the main thing is you got the PPI and interest back, if you mean that you have the 8% but not the interest on the Loan PPI payments, the interest on the PPI is in with the PPI total and this is what they have given you back.

amersall

taylor1shopping1 wrote: »

Hi Am still waiting for information from Capital one. I sent them the original letter to ask for credit agreement. I received a reply saying: That as my account was closed in 2008 They didnt have to send me any further information relating to my account!!!! What do I do now? Any ideas????:mad:

You do not need the agreement to make a claim for mis sell, you only need the card number and the reasons for mis sell

If you got a copy of the agreement it may not show PPI as this could have been added at a later date.

They are correct if the account is closed they do not have to supply you with a copy of the agreement.
If you still want info on this CC, then send a Sar, ask for all info they hold on you, enclose £10 and give them 40 days to respond.
https://forums.moneysavingexpert.com/discussion/1475553

amersall

jovisd79 wrote: »

well i finally decided to look further into this after keep reading through this thread and callled lloyds tsb. Turns out a loan i had totalling just over £6k in 2002 had PPI on it. I was 23 and financially very niaeve. and aother loan in 2004 for over £7.5k had PPI, remember thjis one and it was definatley not explained to me that |I may not need this if my work provided good benefits which it does! so Ive made the call, now apparently they send me a letter where i fill in some details and go from there? To be honest I'll be surprised if i get paid out, I'm just not that lucky and we could really do with it at mo lol. We'll soon see so fingers crossed and ill start checking the credit cards!

Do you know if you paid this Loan and PPI as one total monthly payment?,
If you did, this is Single Premium PPI and this is the reason for mis sell that you use on the questionnaire they send you, this was a loan on the loan paid to term end with interest, if you cancelled the PPI they would have given you a pro rata rebate of the PPI and the remaining PPI is still on the loan to term end.
If you settled this loan early then, as above you, would have a pro rata rebate and you would have paid back the remaining PPI in with the settlement figure.

amersall

HAVEFAITH wrote: »

Hi I'd like to look into mortgage ppi. Can i have direction or a form link please? Many thanks in advance lovely people xx

Here you are, the guys on there will help you.

http://forums.moneysavingexpert.com/forumdisplay.php?f=187

amersall

“So whilst it is important that the customer has access to the full policy documentation, it is not enough for the firm to say it met its obligations simply by sending the customer the policy document and highlighting the customer’s right to cancel the policy”.

Send the complaint to redcats re the previous cover, the unemployment part would not have covered you and if you had life insurance also, that discounts 2 of the PPI cover that you were paying for.

Send the first one to FOS, put about the 2 counts on the PPI that you were paying for and did not need, send a copy of the rejection too and the reasons that you originally complained with and quote the paragraph above.