PPI Reclaiming successes and failures

bayjomam

rumstickle wrote: »

halifax (hbos) agreed to settle on december the 19th 2007, they haven't said how much but agree we were mis-sold. how long should we wait and what should we do if they continue to stall.

Their last letter said


is this just a delaying tactic.

any advice greatly appreciated

thanks

p.s fantastic site

I've had those letters "we agree you were mis-sold PPI......" from Halifax. I got 1 letter in Nov 2007 for loan PPI saying we'll calculate what we owe you etc. and will contact you in the near future. I also got one on 20th Dec 2007 for credit card PPI saying we will send you a cheque with refund plus interest in 14 days. I'M STILL WAITING!! I've rang and rang to chase both of these matters on numerous occasions and now they are telling me theres a backlog and what with xmas etc. etc. etc! I'm no further forward and am still waiting for MY MONEY off them. I've now reported them to the FOS.

Hope this helps

Captain_Cuddlepuss

heathy wrote: »

I have been battling with First Plus for a refund of my PPI under the 'partial refunds being unfair' reason. I took out the policy with them in March 2006 for £13469.50 and settled the loan plus PPI in January 2007. The rebate I had originally received from them was less than 30% (pretty low considering I only had the policy for 9mths). I pointed this out to them in my letter and said that I would take that matter to court if they did not recalculate my refund more fairly.

I have today received a letter from FP offering an enhanced rebate (YIPPEE!!) of £5123.93 in addition to the £3806.34 rebate I had when I paid the loan off last year. They state that this revised refund equates to 78% of the premium.

I cannot get these figures to balance and I don't think that they have paid the 8% stat interest the court would award either. Not sure now whether to accept this amount or not as I'm not sure how to calculate the 8% interest, and not sure how much it would increase the refund by.

Any thoughts would be very much appreciated. Thanks!!!!

Hello. I too was offered a 78% enhanced rebate and had to do some head scratching as to the figures. The key words in the letter are "pro rata" thus if your initial premium was over five years and you completed 9 months then I would guess that the 78% offered is of the remaining 51 month less what you have already been offered. I don't think they included interest in this and have gone back to them again in my case.

HTH

chasethedream

chasethedream wrote: »

I took on Lloyds and won! They've offered to refund the premium in full, but won't admit they did anything wrong! They sent a standard response to my first letter which didn't actually answer my complaint. On the second letter they simply said that because the loan was taken out some time ago it was unlikely that anyone would be able to recall if I was asked if the ppi was suitable for my needs, becuase of that they offered to refund the premium plus interest!

Cheers Martin - Thats £1200 on the way.... Just waiting for the money....:beer:

Now waiting to hear from Egg, they've already had eight weeks and say they can't trace my call! Anyone else had this with Egg?

Finally got the money paid into my account from Lloyds £1200 plus interest made up a whopping £2025! What a result!

Egg still haven't made a decision, just sent them another letter, saying its unreasonable to have to wait fifteen weeks for them to trace a call! Especially when I complained to them about something else last year and they traced the call in three days!

nova

Hi, yes l am on eggs case too, if you're 2 seconds late with your payment they soon get hold of you then! Have you seen their ad on tv, underneath in very small print it says how much you have to pay back ie 5% of balance etc, plus payment protection insurance premium, no where does it say optional, leading people to believe (who are applying for card) that they have to have it.
Good Luck.

mumto7

• What were you reclaiming: Loan
• Who was the provider: Lloyds tsb / Loans direct
• How much did you get back: £2463.06
• Did you get it back after a letter or did you go to the Financial Ombudsman: wrote a letter in november recieved responce 15.1.08le
• i decided to reclaim my ppi after i realised it was missolds as was unemployed at time of recieving the loan and it was automatically added i thought i had to have it but once i realised i didnt have to have as it was optional (not that they said so) i sent a letter (from this site) in november recieved a responce that said 'we will look into this for you blah blah blah' but yesturday (15.1.08) recieved a letter explaing that theyd refund the whole premium of £2463.06 plus intrest (no clue to what intrest) on a ex-gratia basis. (not to admit liability to pay) :rolleyes: so thankyou mse this has now halved my remaining loan and payments will come to a end much sooner
• :j

gjohn9

I've just successfully cancelled my PPI on interest-free sofa payments through DFS (Hitachi Capital).

Only realised the day before the first payment was due (18 months interest free with no payments for a year) that the rascal in the DFS store had conned me into ticking the PPI box. I say "conned" because I was a cash buyer and only went with the interest free credit when they wouldn't give me a discount - I was thinking I might as well hold on to the cash for a year and earn some interest on it! I came away from the store with the understanding the credit would not cost me anything.

I thought it'd be difficult because I'd signed the agreement with the box ticked, but I just phoned up and quoted "mis-sold" and they immediately said not a problem, asked me to fax through confirmation that I thought I was mis-sold, and then sent me a letter confirming its cancellation. The first payment was already going through when I phoned, but the over-payment was quickly refunded and subsequent payments have not included the PPI.

Arguments that I had ready but didn't need to use were:
1. The cash buyer bit above.
2. I was never asked in store if I had existing protection.
3. I was told there was no cost associated with the interest free credit.
4. The agreement form is mighty confusing with the monthly payment without PPI quoted loads of times, and only once quoted with it.

I thought I was on the ball with financial arrangements in general, but the episode did show me how easy it is to miss a minor detail on large complicated agreement form and it end up costing you money.

Glenn

LoRnA_2

I have just heard today i will be reimbursed all of the money i have paid on my car PPI insurances [3 in total], it comes to £2,600 minus the interest @8% which is yet to be calculated and added on.

That is however the good news...................the bad news is this particular car/loan company have informed me, that due to having a continuing account that is open, hence my car account, they will be reimbursing this money into the car account rather than my personal bank account.
They have informed me they only way they can pay me personally is to close my car account i.e. return my car.

I have pointed out to this particular individual, the minimum amount that is required to be paid in order to terminate an agreement has already been paid, therefore it is unfair to suggest i can only access my reimbursement if i cancel my agreement!!

What can i do?

katie1

Hi. sorry this may be posted in the wrong place forgive me if it is.I was just woundering if anyone has had a success in claiming ANYTHING back from Blackhorse Finance?

moudies

Martin I love you!! i had £214 back last week from Littlewoods catalogue, today I have been offered £514 from the alliance and Leicester for a loan that I had had for £5000. I think I might just accept!! And they only took from the 2nd January to settle, today is the 17th!!! Yeah!!!!!!!!!!

sarahl1979

katie1 wrote: »

Hi. sorry this may be posted in the wrong place forgive me if it is.I was just woundering if anyone has had a success in claiming ANYTHING back from Blackhorse Finance?

I would like to ask the same question....

I have the letters done but wanted to know if anyone has any success with them...