PPI Reclaiming successes and failures

stu1960_2

Could someone check my figures please as i think the interest may be low. Thanks,
Loan £3522 @26.9% ouch
PPI £609.36
loan taken out 17/12/2002 24 monthly payments, all on time.
Offer
Refund of premium £609.12
Interest until 24/8 2012 £421.52
All the success stories on here with loans from 2002/2003 seem to suggest interest = premium paid.
If i bang £609 into my calculator and add 8% 9 times it gives £1290 not £1030.
Maybe i,m doing it wrong, not sure, any advice much appreciated, thanks.

alan192

Guys & Gals,

It's been a long time coming but after receiving a letter from PPI insurer saying policy was about to end in 2009 for a loan I took out in 2004 with Loans.Co.Uk I thought I'd investigate as had paid loan off 9 months later! I paid £3000 for the Policy.

So I used the basic template letters from the lovely Moneysavingexpert website and after some refusals due at time to Loan company not being covered by FSA I tried the underwriters who again said "No" I thought this isn't right and continued to the Financial Ombudsman Service and low and behold they relayed the same information back but this time the underwriters have upheld my claim and the interim offer is just short of £5,000 so when they get Loan details I could be in for more :j Well worth the nye on 3½ year wait

elaine1960

amersall;54936281
Depending on the year this loan was taken out, you need to contact Ge and ask.
If it was taken out before 04 it is possible that the FOS may suggest the insurer route, if it was after 04 then send this to FOS , you have only recently found out about PPI mis sell, put that this was Single Premium PPI and the full cost and unfair rebates of this PPI were not explained to you at the point of sale to make an informed decision, had you known the full cost you would not have taken this product

Thanks for your info amerstall, I only contacted them by phone when I found the final statement, I have now written to them asking for a copy of the loan aggreement and terms & conditions.
I paid off the loan in full in 2006 and Im almost sure the origional loan was taken out late 2004/2005.

waitin4reply

Hi newbie here pls be nice, been stalking for months and my story like so many others so finally decided to claim back ppi from RBS, genuine story as RBS had me on my knees for years due to this insurance. Telephone claim on 2nd July to be informed I would receive letter. No letter rec. so telephone again on 26th July to be informed a letter had been sent to me the previous day but would take 5 - 10 days (???) and I had 7 claims for ppi (thought it was 5). 10 days up today and postman been and no letter. Telephoned again this morning to be informed letter was sent out 4th August (totally contradiciting the 25th July date), so who's the liar(s) at RBS, are they all taught how to lie ? Anyway I now have to wait another 5-10 days for a copy of the letter which was sent out on the 26th June & 4th July ???? Anybody else had this happening ? Any advice ?

granjulia

Hi Waitin4reply

Similar RBS messing about problems here.

Sent a claim in to RBS after 6 weeks still no reply. I rang them to be told they have not received any claim form from us. Sent another 2 weeks ago and rang on Thursday this week to see if they had received that one. They said it wasnt on their system yet!!!!!! Day later received a letter from them asking for proof of address. (curious, they had obviously recieved it)

Either stalling tactics or their admin system needs a shake up.....posibly both tbh.

Good luck, we could have a long wait!!!!:mad:

Titch_E

Just want to say a BIG thank you to Martin, his team and all the wonderful people on the forum. :beer:
Completed the reclaim template and sent to Halifax & MBNA about loans I had with them,explained that I had generous sickness cover via my employer and that I didn't realise that PPI was optional. Wasn't expecting anything as the loans had been paid off and I didn't have start dates, finish dates, complete ref numbers etc, my claims form was pretty sparse.....so imagine my surprise when I had replies from both saying my complaint had been upheld! Had just over £1000 from MBNA and £6400 from Halifax! :jFantastic result as it's paid off my debt and allows me to really start saving for that ellusive deposit for my first home! I've just completed the forms to try and claim back from several credit cards I've had over the past few years...so watch this space. I'd encourage anyone who hasn't done this yet to fill in the form and ask for what's rightly yours.....if you don't ask you don't get!!

waitin4reply

Thanks for reply - so its not just me ! Tbh I'm livid with RBS !!!! Good luck, hope all goes well for you

Naqsh

Success Success Success !!!!!

Loan: Loans.co.uk
Amount Recieved: Total £6,188.42
Time Taken: 8 weeks

Sent my claim in at end of May and recieved a letter within 2 weeks about investigating my claim and trying to recieve all information from the actual lender. 2 weeks later got another letter confirming they have upheld my claim and will finalise a settlement figure soon once all information is collected.

I also emailed them about the delay and got a quick response back saying they are going through all settlements and will respond to me soon.

further few weeks, got the final letter of the settlement figure for the FULL refund pf the PPI premuim plus the interest paid to date & also included 8% interest = Total £6,188.42

Just one question > How do I inform HM revenue & Customs of the 8% Gross interest ?

Twildoo

Hi Newbie here,

Silly question, but can't seem to find it on here. Is there a limit to how many claims you make? I have a couple... two with Peugeot Finance, and a couple with HFC Bank via Currys? :embarasse

Kind regards

[Deleted User]

Twildoo wrote: »

Is there a limit to how many claims you make? I have a couple...

If you have valid complaint reasons about PPI you have paid then you can, of course, complain about each and every one of them.