PPI Reclaiming successes and failures

amersall

Joannewd wrote: »

I recently contacted HSBC regarding two mis-sold PPI claims on personal loans. They very generously contacted me to to tell me I actually had 6 loans in total containing PPI - so I thanked them very much and completed a further 4 claims.

Today I received a offer from them upholding my claim on all 6 loans. Offering me £3,200. A very brief breakdown containing the following for each one
PPI Premium Redress;
Plus taxable interest at 8%

I was wondering if I am entitled to anything else - I never actually completed any of the loans as each loan was a consolidation of the previous loans plus a bit extra, so would they have taken this into account, my thinking is that each additional loan to would have been more due to interest on the PPI element or have I got ths wrong

Sorry its a bit long winded but any advise woud be great

Thanks

They give you the PPI back that you paid and the 8%, the interest on the PPI is in with the PPI that they have given you back.

When you settled the first loan with the second one, they would have given you a rebate of the PPI, this is what happens with all these loans, the remaining PPI after the rebate would have been put onto the next loan after the rebate and so on.

When you win redress, they give you the whole PPI back for each loan, they then take off the rebate they gave you when you consolidated each loan, you then get the PPI back that you actually paid to each loan and the 8%.
The 8% is compensation and is taxable if you are a taxpayer.

amersall

This is my first time using a forum and thank's in advance for help.

What was the original term of this loan?.

amersall

ktdd18 wrote: »

Hi, can anyone help please? I have recently had a claim upheld by FSCS against Freedom Finance. I had two loans, one of which I had received a refund of the premiums after 5 years, the other I hadn't but FSCS want proof that I haven't had it. First Plus, who the loan was with, haven't been very helpful. Has anyone else had this problem and how did you resolve it?
Also the redress from FSCS is nowhere near the 8% that other companies are paying, it looks nearer to the 0.1% that some current accounts pay these days. Is this right?
Thanks for any help.

Contact FP and ask for the proof that you did not have the cash back as the FSCS need this to work redress, if they do not comply with this info within 14 days you will put a complaint into the FOS.

The FSCS only pay compensation for a mis sell, I think it is 90% of the actual PPI, I was not aware that they paid any form of % for compensation.

amersall

di3004 wrote: »

Well done and Congratulations to all winners!:beer::beer::beer:

Hi Di :A nice to see you here x.

Top-ranking_Bug

amersall wrote: »

When you settled the first loan with the second one, they would have given you a rebate of the PPI, this is what happens with all these loans, the remaining PPI after the rebate would have been put onto the next loan after the rebate and so on.

.

I don't recall getting any money back from Egg when I consolidated a loan. Any ideas on how I can find out if this in fact happened?

Incidentally, they are the only ones who have yet to acknowledge my PPI claim, despite my having a proof of receipt.

di3004

amersall wrote: »

Hi Di :A nice to see you here x.

Cheers hon

I'm getting a right pain, off and on all the time :rotfl::rotfl::rotfl:

Aww thank you anyway xxx:A:A

di3004

Top-ranking_Bug wrote: »

I don't recall getting any money back from Egg when I consolidated a loan. Any ideas on how I can find out if this in fact happened?

Incidentally, they are the only ones who have yet to acknowledge my PPI claim, despite my having a proof of receipt.

Hiya

If you contact/write to the business you can ask them to send you a detailed breakdown of the settlement, they should send you this any time you ask.
This will enclose details of the PPI, of what is what etc..;)

amersall

Top-ranking_Bug wrote: »

I don't recall getting any money back from Egg when I consolidated a loan. Any ideas on how I can find out if this in fact happened?

Incidentally, they are the only ones who have yet to acknowledge my PPI claim, despite my having a proof of receipt.

They take the remaining PPI after the rebate and put this into the new loan, this will have been on your consolidated loan paperwork.

dolphingazer

amersall wrote: »

What is 35% plus Vat on that? I need to work out my bill :rotfl::rotfl::rotfl:

:D:DWell yes I think that's only fair considering all the advice you have given me;)

Just invoice me and I will send it to you:rotfl::rotfl::rotfl:recorded delivery of course:p:p:p

Luscious75

Hi,
Not sure if I'm posting this in the right place? Never used a forum before!
I have today received a letter from Santander refusing my claim for mis-selling of PPI or as they call it, account cover.
They attach a copy of the debenhams account card application form quite clearly showing my signature in the account cover box. the assistant has crossed all the boxes I had to sign in. Could I have been misled? I seem to remember being told by the assistant that I would be more likely to be accepted for the card if I took out the insurance but as Santander say, there is no evidence that points towards this i.e my word against theirs!
My question to you is, shall i just give up and forget it or does anyone have a suggestion as to how I could proceed?
Thanks
Luscious75