PPI Reclaiming successes and failures

Fallenangel152

Hi everyone, i've been meaning to see if i can claim back my PPI on my Capital One credit card, but i applied so long ago i can't remember whether i agreed to PPI or not. I applied online.

Is it worth me trying? I've been paying £14 a month for years now.

evertrue

Hi Just a quick question, I had a rejection letter from Halifax to which I sent a letter back rejecting their outcome. I sent it 15th May and called to see if they had received it. They said they hadn't so I faxed it to them. After which they said the letter was on their system 01.06. In my letter I gave them 14 days to reply. The 8 weeks from when I claimed is up tommorow, How long do they take to reply to your letter or should I just go the FOS?

Thank you in advance

ggiant68

my wife put in a claim at end of April to Barclay's for a miss sold PPI , we had a letter to state they had received the complaint and would deal with it (letter received in 5 days) .
on Tuesday as we hadn't heard anything my wife called Barclays and was told they couldn't discuss her case but they were waiting for a couple of boxes to be ticked at their end and she should receive the response at beginning of next week . the guy said he couldnt discuss over the phone but did imply that rejection letters are dealt with in a different way .

has anyone else had this response if so is it positive ?

thanks in advance

amersall

Still have to complain about my Firstplus PPI, which I have just realised I am still paying for even though my policy has expired. Does anyone know how they calculate the PPI amount to be returned? I received my '5 Year PPI premium refund' in April and am wondering how this will affect the overall loan balance if I reclaim the PPI.

Send this to FP

We/I were mis sold the PPI on the above loan account and would like proof to the contrary of my/our reasons for mis sell of the above PPI .


1)We/I were not told that the ppi was in effect another loan that was added to the original loan and was repayable over the trem with interest

2) We/I were told that the ppi was a 5 year policy, but not told the ppi would still be on the loan to term end with interest and would no longer have cover.

3) We/I were told that if we did not make a claim,or go into arrears on the ppi ,after 5 years we would receive the cashback of ppi but were not told this would not include the interest made on these payments that we paid over the 5 years or that the PPI would still be on the loan to term end with interest.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been needed, if the original loan had been sold without the PPI policy.

In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Barclays pays them back to us. We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included.


When you win, they will make you a couple of offers as you had the cash back, it is essential that you take the offer that takes the whole PPI amount off the loan and reduces your monthly loan payment by the PPI monthly amount this will save you thousand in interest over the remaining term that amounts to a lot more than any money they offer you.

If you accept any money back, the PPI is still on the loan to term end with interest and you will have paid dearly for this PPI twice over, as the cash back did not include the interest that you paid on this over the 5 years.

You will get the PPI back that you paid for the 5 years with interest, so even if you have the loan reset, you could get some more money.

amersall

ggiant68 wrote: »

my wife put in a claim at end of April to Barclay's for a miss sold PPI , we had a letter to state they had received the complaint and would deal with it (letter received in 5 days) .
on Tuesday as we hadn't heard anything my wife called Barclays and was told they couldn't discuss her case but they were waiting for a couple of boxes to be ticked at their end and she should receive the response at beginning of next week . the guy said he couldnt discuss over the phone but did imply that rejection letters are dealt with in a different way .

has anyone else had this response if so is it positive ?

thanks in advance

Barclays are messing people about at the moment, they are saying the first thing that comes out of their mouths :)wait and see what you get, seems to me this is being rejected if he implied rejection letters are dealt with in a different way, was this a loan or Credit Card?.

amersall

evertrue wrote: »

Hi Just a quick question, I had a rejection letter from Halifax to which I sent a letter back rejecting their outcome. I sent it 15th May and called to see if they had received it. They said they hadn't so I faxed it to them. After which they said the letter was on their system 01.06. In my letter I gave them 14 days to reply. The 8 weeks from when I claimed is up tommorow, How long do they take to reply to your letter or should I just go the FOS?

Thank you in advance

Give them time, they have 8 weeks to give you a final decision, this could take longer but FOS will be even longer, sometimes up to a year.

amersall

I have contacted our settlements team and asked them to calculate the redress due to you. As soon as I have the details I will email you with a formal offer and acceptance form for you and Mr ******* to complete and return if you agree with the offer.

Well done and make sure they reduce the loan balance by the whole PPI amount and reduce the monthly payment by the PPI monthly payment.

ggiant68

amersall wrote: »

Barclays are messing people about at the moment, they are saying the first thing that comes out of their mouths :)wait and see what you get, seems to me this is being rejected if he implied rejection letters are dealt with in a different way, was this a loan or Credit Card?.

it was a loan and my wife is disabled so she wouldn't qualify for the ppi anyway . i found the old policy which states it is for disability ,unemployment & life benefit .

when he implied rejection letters are dealt with in a different way he implied if it was rejected then a different type of letter would be than the one we would recive all seems strange to me

sapey1

Sent off FOS questionnaire to Beneficial Finance for a really old credit card I had with them. Received £3,600!!!!!!!

Thanks Martin and the forum - delighted with result - just now challenging rejections

Ganga

Received letter back from HSBC £836.05 will be paid within 4 weeks once they have received our acceptense reply- its going of first post!
A good result.