PPI Reclaiming successes and failures

amersall

Hebbesy wrote: »

Quick update, had the credit card text through saying they have recieved my acceptance letter, however we are now sailing very close to the mark financially and in this rubbish weather my back fence has now decided to start to fall down, does anyone know of a way I can speed up the paying of my compensation at all as im seriously in need of the money.

You will have to wait for them I am afraid, don't get in touch with them and query as this may delay.
They should credit the redress to your card and then raise a cheque to you and take it back off the card, whatever you do, do not use the card to spend the money or you will pay interest, keep checking your card to see when it goes on then you know the cheque will not be too much longer.

Hebbesy

I dont have the credit card anymore, so all money is being paid direct to me, I no longer have a current account at natwest just an old first reserve I was using while saving up for bits for my house, however they seem reluctant to pay the reimbursements into this, I did call them yesterday for an update, and strangely a cheque has been issued from the credit card claim, which is the newest claim, however the 2 earlier claims are still in the process of being sent to payments, not sure what the hold up seeing as they have my acceptance and have said to me they are going to pay.

Lindsey_84

What were you reclaiming: Miss Sold PPI on A loan
Who was the provider: Beneficial Finance
How much did you get back: £5,752.01
Did you get it back after a letter or did you go to the Financial Ombudsman: Had to go to the FOS.

Took 14 months from 27/10/2010 - 12/01/2012 but got back £5,752.01

No middle men charging me high fees, just Martin and his advise.
THANK YOU MARTIN :-)

Good luck to everyone.

husaberg

well i finally got my offer through from Lloyds tsb regarding PPi on my credit card for 10 years its been 9 weeks since the ombudsman found in my favour, Lloyds denied liability, but decided to make a good will gesture..........£490.80 ....i couldn't believe it

they said due to the passage of time, we no longer have any detailed records relating to your credit card account.
the absence of detailed records means that even if we were to assume the transactions and payments on the card based , for example on your recollections, there is no guarantee our calculations would be accurate as we have no way of knowing when the card balances was cleared or if any claims have been paid under the policy
in a genuine attempt to resolve your complaint our offer of £490.80 is equal to our average compensatory payment taking into account the period during which you held the credit card and were paying for your ppi cover. we believe that an average payment method in cases such as yours is fair and reasonable

i can remember purchases of £16,500 alone
is this a further stunt by the bank, remarkably they were good enough to tell the ombudsman that the PPi started in Nov 1999 even though the card started in 95
I've declined the offer, and contacted the ombudsman to tell them my decision, they're making a new case

Please please please can anyone offer me some credible advice, i believe the bank is trying to short change me

g3m

What were you claimining: loan
Who was the provider: egg
How much did you get back: £1500
Did you get it back after a letter or did you go to the Financial Ombudsman: letter

I am so thrilled and just had to share my good news! After a bit of nagging from my husband, I completed the claim form from the mse site and today received a letter to say they were sending me £1500! I didn't even have any details of the loan and honestly didn't think I stood a chance of getting anything back.

Thank you so much Martin and the MSE team, we are £1500 nearer to our loft conversion!

G3M

[Deleted User]

husaberg wrote: »

Please please please can anyone offer me some credible advice, i believe the bank is trying to short change me

The only advice I can offer is be prepared for a very long wait with a very uncertain conclusion.
You may "remember" a purchase costing £16, 500 (what did you buy, a car?)-but can you provide any documentary proof of this? If the Bank is still only offering "goodwill" payments when the Ombudsman found in your favour then they really must no longer have any records of your PPI.

husaberg

Moneyineptitude wrote: »

The only advice I can offer is be prepared for a very long wait with a very uncertain conclusion.
You may "remember" a purchase costing £16, 500 (what did you buy, a car?)-but can you provide any documentary proof of this? If the Bank is still only offering "goodwill" payments when the Ombudsman found in your favour then they really must no longer have any records of your PPI.

Thank you for your reply, i haven't got any statements, but i can remember some of the purchases and approximate times, its the fact they can say the ppi started in October 99 but cant find any more information that irritates me, and that my average payment equates to around £4 per month ppi charge with all interest, seems under valued.
i purchased a hot tub i could go and ask for a receipt

I'm very grateful to all on this site for any help and the ombudsman, i'd gladly give up any refund for stricter laws where prison sentences could be applied

NYGiants

NYGiants wrote: »

Barclays sent me the letter yesterday but there was an error in the amount of PPI on the last loan and also they way they calculated the refund. I spoke to an advisor who put me on hold while he spoke to someone more senior and then they agreed that the calculation was done wrong.

By my calculations I think I'm due a further £1000 of PPI payments and a further £2000 from the 8% interest. Half of the interest from the £1000 of PPI and the other half of the interest based on the way they calculated my refund.

Basically they deducted two of the recent £500 'gestures of goodwill' before they calculated the 8% interest and I argued that this deduction should have been made after the interest was applied. The way they calculated the refund would have meant that I missed out on 8% of £1000, which going back over 10 years means that the interest is approx £1000.

They agreed with me and have re-opened the case and I'll hear from them shortly. I should be getting a further £3000 from them!!

I got my letter and cheque from Barclays today for a further £2706.67, so it now looks like this..

• What were you reclaiming: Loan
• Who was the provider: Woolwich (now Barclays)
• How much did you get back: £8,159.14
• Did you get it back after a letter or did you go to the Financial Ombudsman: After letter and phonecall & subsequent SAR

But... they still haven't done the calculation correctly, they've corrected one of their errors but not the other; which means that I should get a further £1000 (approx.) based on my calculations.

It's worth checking over what you're offered from the banks because if I didn't I could have missed out on approx £3700.

I don't believe that they did it on purpose, due to the complexities of the 'top-up' loans, but it's worth checking over their calculations and at least have a basic understanding of what you should be getting back.

[Deleted User]

husaberg wrote: »

I'm very grateful to all on this site for any help and the ombudsman, i'd gladly give up any refund for stricter laws where prison sentences could be applied

PPI mis-selling is not a legal issue I'm afraid. No one was ever going to prison over this scandal..

Ladyinwaiting

Hello. Newbie here. Please dont flame me

I had a loan with abbey national in 1995 with front loaded ppi

I took out further loan with abbey 1996 with first loan rolled into second.

I have the loan agreement numbersfrom old bank statements but no loan documentation, distinctly remeber ppi as it was 'mandatory' as had just started new job.

Told santander that 6 yr rule applies from when I realised possible mis sale ppi.

Santander have declined my complaint today as they cannot find any paperwork.

Am I on a sticky wicket and shd just give up or take it to FOS?

Advice greatly appreciated.