PPI Reclaiming successes and failures

mel*_2

We got the offer letter today they are paying us £1181.49 witch is more than we expected witch is great.
The bit in the letter that concerns me is that they said that we have to arrange a new loan for the outstanding balance without ppi and once we send back the signed agreement for the new loan will they pay us our money.
is this normal procedure? dont really know what to make of it.
Thanks again mel x x

elliskevin

Hi everyone, just wanted to add my own story. I have had a loan from Egg for just over 4 years. (5 year loan of £5k). At the time they inisted I took PPI even though I didnt want it. So when I read this excellent forum I thought I would give it a go.
I only wrote the first letter from Martin's templates and 6 weeks later I have just been told that they are refunding me £700 plus £220 interest!! They have credited my account and now I only have about £500 let to pay..

Thank you so much to the owners of this forum without which I would never have even tried.


Good luck to everyone else!! Nice to have the little man bite back every now and then!! :rotfl: :rotfl:

amersall

mel* wrote: »

We got the offer letter today they are paying us £1181.49 witch is more than we expected witch is great.
The bit in the letter that concerns me is that they said that we have to arrange a new loan for the outstanding balance without ppi and once we send back the signed agreement for the new loan will they pay us our money.
is this normal procedure? dont really know what to make of it.
Thanks again mel x x

well done on your offer. when you get the loan agreement it must be for the interest rate you had with the original loan i allso think it should go over the remaining years you have left on your original loan, i had a new loan offer from northern rock which added a further 7 years to one of my loans, i sent this straight to fos- as the rule is you should be put back to the position you were in before you took the ppi, when you get the loan agreement please check it and shout on here if you need any help, good luck

smitchy73

I think they have to put you back in the position you would have been in if it hadn't been for the PPI, meaning that you aren't getting charge interest rates that they would now if they are worse than what they were when you first took your loan out, and your payments shouldn't be worse either, but I'm sure some of the more experienced members here will keep you slightly more informed than I can.

amersall

elliskevin wrote: »

Hi everyone, just wanted to add my own story. I have had a loan from Egg for just over 4 years. (5 year loan of £5k). At the time they inisted I took PPI even though I didnt want it. So when I read this excellent forum I thought I would give it a go.
I only wrote the first letter from Martin's templates and 6 weeks later I have just been told that they are refunding me £700 plus £220 interest!! They have credited my account and now I only have about £500 let to pay..

Thank you so much to the owners of this forum without which I would never have even tried.


Good luck to everyone else!! Nice to have the little man bite back every now and then!! :rotfl: :rotfl:

:T:T well done:T:T:T i dont think the banks knew how hard customers will bite back:T:T i think they should just pay everyone who has ppi what they are due now , cause they are just prolonging their own agony:eek:

di3004

mel* wrote: »

We got the offer letter today they are paying us £1181.49 witch is more than we expected witch is great.
The bit in the letter that concerns me is that they said that we have to arrange a new loan for the outstanding balance without ppi and once we send back the signed agreement for the new loan will they pay us our money.
is this normal procedure? dont really know what to make of it.
Thanks again mel x x

Hi Mel
Great news on your offer, its a start.:T :beer: , I see our amersall has given you some helpful advice on this good luck.;)

Di
x

di3004

elliskevin wrote: »

Hi everyone, just wanted to add my own story. I have had a loan from Egg for just over 4 years. (5 year loan of £5k). At the time they inisted I took PPI even though I didnt want it. So when I read this excellent forum I thought I would give it a go.
I only wrote the first letter from Martin's templates and 6 weeks later I have just been told that they are refunding me £700 plus £220 interest!! They have credited my account and now I only have about £500 let to pay..

Thank you so much to the owners of this forum without which I would never have even tried.


Good luck to everyone else!! Nice to have the little man bite back every now and then!! :rotfl: :rotfl:

Wel done to you, Congratulations, and great work !
:beer: :T :beer: :T

Di
X

mel*_2

Thanks again guys :kisses3: , i was a little worried as we dont want to be paying back the loan for any longer than what was originally agreed.

Thanks mel x x x

di3004

mel* wrote: »

Thanks again guys :kisses3: , i was a little worried as we dont want to be paying back the loan for any longer than what was originally agreed.

Thanks mel x x x

Hi Mel, with pleasure.;)

Keep fighting hun, we will keep our fingers crossed for you.:A
Please keep us informed, cheers.:D

Di
X

Stillsmiling

Got my cheques from Worst Plus today - £5181.56 and £710.78 (the interest).

WOOHOO!!