PPI Reclaiming successes and failures

lloydsbuster

one letter and 7 weeks later lloyds admitted to uphold my case and pay back £3500 plus interest paid on it at 11.9% plus 8%, my loan is not in arrears but will only pay off the loan and refuse to send me a cheque, any body had this happen to them or changed lloyds mind on this. happy but want the cash to clear more expensive credit......

di3004

lloydsbuster wrote: »

one letter and 7 weeks later lloyds admitted to uphold my case and pay back £3500 plus interest paid on it at 11.9% plus 8%, my loan is not in arrears but will only pay off the loan and refuse to send me a cheque, any body had this happen to them or changed lloyds mind on this. happy but want the cash to clear more expensive credit......

Wow, well done !
Especially with them lol.........:T
Congratulations and Well done to you.:beer::T:beer:X

Steebie

I recently sent the stage 1 letter to Egg to claim back mis sold PPI. Within 2 weeks they had given back £1251. I did not expect anything but hey nothing ventured and all that. Thanks MSE!!!!

amersall

lloydsbuster wrote: »

one letter and 7 weeks later lloyds admitted to uphold my case and pay back £3500 plus interest paid on it at 11.9% plus 8%, my loan is not in arrears but will only pay off the loan and refuse to send me a cheque, any body had this happen to them or changed lloyds mind on this. happy but want the cash to clear more expensive credit......

hi , i dont think they can do that, they must put you in the position you were before you took the loan with ppi, if i were you i would write a letter stating this and asking them to send you the money or you will go to the fos, there may be someone on here who will give you better advice, possibly someone who has been in a similar position, please keep us posted

amersall

Steebie wrote: »

I recently sent the stage 1 letter to Egg to claim back mis sold PPI. Within 2 weeks they had given back £1251. I did not expect anything but hey nothing ventured and all that. Thanks MSE!!!!

:Twow that was quick well done:j:j:j

di3004

Steebie wrote: »

I recently sent the stage 1 letter to Egg to claim back mis sold PPI. Within 2 weeks they had given back £1251. I did not expect anything but hey nothing ventured and all that. Thanks MSE!!!!

Very quick indeed, well done, shame they were not all like that lol :T
Congratulations, well done !:beer::T:beer:X

maxdp

Steebie wrote: »

I recently sent the stage 1 letter to Egg to claim back mis sold PPI. Within 2 weeks they had given back £1251. I did not expect anything but hey nothing ventured and all that. Thanks MSE!!!!

Fab news well done Steebie.:beer:

hammersuk

ok sorry long winded post warning!

hammersuk

Ok wrote to HSBC re ppi on 3 unsecured loans i had and i now need advice on figures.

First ppi loan was £1559 over 60 months in may 2002, then in jan 05 i paid that off and got the second ppi loan of £2229.99 which was fully paid off just seven months later in sept 07 when i got in a wee bit of bother and needed the 3rd loan this time a total ppi of £2500 which was eventually all paid off in 2006 when i got a mortgage elswhere and paid HSBC off.

So yesterday i got the letter saying they were upholding my complaint and to ensure i am not financially disadvantaged they will ofer me£4724. They say this will cover the premiums i paid inlucing interest.

they break it down on each loan but surely that figure is short of what i paid in total?

The breakdown goes loan 1= 31 premiums paid £805 plus intrerest, £421 cost of early repayment, Total Loss at date repaid £1314 plus £458 interest so offer £1773 on loan 1.

Loan 2= 8 Premiums paid- £371 plus interest, Refund of early repayment £662- total loss at date repaid £1043 plus £305 interest so offer £1349.

Loan 3= 17 premiums paid £708 plus interest,

£618 refund of early repayment cost,

Loss at date repaid £1366 plus £235 interest sio offer £1601 which is the total £4724


Does this sound right taking into account the original cost of the ppi?

Its good but i dont wanna except less than im due

di3004

hammersuk wrote: »

Ok wrote to HSBC re ppi on 3 unsecured loans i had and i now need advice on figures.

First ppi loan was £1559 over 60 months in may 2002, then in jan 05 i paid that off and got the second ppi loan of £2229.99 which was fully paid off just seven months later in sept 07 when i got in a wee bit of bother and needed the 3rd loan this time a total ppi of £2500 which was eventually all paid off in 2006 when i got a mortgage elswhere and paid HSBC off.

So yesterday i got the letter saying they were upholding my complaint and to ensure i am not financially disadvantaged they will ofer me£4724. They say this will cover the premiums i paid inlucing interest.

they break it down on each loan but surely that figure is short of what i paid in total?

The breakdown goes loan 1= 31 premiums paid £805 plus intrerest, £421 cost of early repayment, Total Loss at date repaid £1314 plus £458 interest so offer £1773 on loan 1.

Loan 2= 8 Premiums paid- £371 plus interest, Refund of early repayment £662- total loss at date repaid £1043 plus £305 interest so offer £1349.

Loan 3= 17 premiums paid £708 plus interest,

£618 refund of early repayment cost,

Loss at date repaid £1366 plus £235 interest sio offer £1601 which is the total £4724


Does this sound right taking into account the original cost of the ppi?

Its good but i dont wanna except less than im due

Hi there

Did they supply you with a full written breakdown of this?

If not ask them to send them to you for ASAP, hopefully they should do this.

There is also a thread on here, posted by MAXDP, in regards of calculations, how they are worked out.
Sorry I am unable to work calcs out, not good when it comes to working figures out......:o.

Turbo did post up the other day, and know he has been tied up recently, hopefully if he passes through, he will take a quick look for you, but if not see if Maxdp's post is of any help to you, good luck.;)X