PPI Reclaiming successes and failures

euronorris

Well, after writing to Sainsbury's bank twice in the past asking for copies of my loan agreement etc, and being told they have no records for me, I tried again earlier this year. Miraculously, this time I received the docs, reviewed them, as suspected PPI was there. Calculated that I should be owed around 4-500 quid, but wasn't certain.

So, I filled in a reclaim form and sent it off in May. Had a response about a week later to confirm receipt and that they would look into it and come back to me. Today I called to chase status and they confirmed that letter was issued on 6th July (so should be here this week) offering £804.74!!! Am over the moon and cannot wait for this letter to arrive! XD

Just goes to show that it's worth persevering with them!!

quidsy

Great results all round folks.

Jamesdusk

I have received a sum of £748.84 into my current account today from LloydsTSB, however I have not yet received any correspondence from them! I immediately called their PPI claims dept and was told that they sent a letter out to me on the 8th July but as they are using 2nd class postage it obviously hadn't reached me yet. I'm not sure if this is the exact amount I would be entitled to or just an offer from the bank, I'm guessing their letter will outline this? In the meantime what would be the best thing to do with the money, move it to my ISA until I agree to accept or just leave it where it is? If any of the balance were to come off it (obviously I need to use my current account) would this equal my acceptance in their eyes?
Thanks in advance!

amersall

Jamesdusk wrote: »

I have received a sum of £748.84 into my current account today from LloydsTSB, however I have not yet received any correspondence from them! I immediately called their PPI claims dept and was told that they sent a letter out to me on the 8th July but as they are using 2nd class postage it obviously hadn't reached me yet. I'm not sure if this is the exact amount I would be entitled to or just an offer from the bank, I'm guessing their letter will outline this? In the meantime what would be the best thing to do with the money, move it to my ISA until I agree to accept or just leave it where it is? If any of the balance were to come off it (obviously I need to use my current account) would this equal my acceptance in their eyes?
Thanks in advance!

If you get the calcs and they are wrong, don't think they be will if this was upheld, you can go back to them with this.

If it was a goodwill gesture, maybe they had no paperwork or for other reasons, if you have proof you paid more PPI than they have redressed, again, you can go back to them.

Just hang on to the cash, no point moving it.

quidsy

This is what they are offering to pay you, can "could" send it back but this is what they are offering so unless you know that they shoudl owe you more & can prove it, this is your settlement.

They did the same to me, deposited the money & I received a letter 5 days later. I called to confirm it was for my ppi, but the credit in my bank mentioned ppi anyway, so I spent it

If you do dispute it & send it back, they don't care if you used some of it as long as you can repay what they sent you in full.

amersall

Boovis wrote: »

Posting again as nobody replied to me:

HSBC claimants: although the letters from HSBC inform that any settlements pay within 4 weeks, are most people finding this is the case? On average, how quickly are they paying the settlements out?

HSBC aren't bad with paying the redress, let us know when you get it.

Jamesdusk

Okay thanks, I'll wait and see what the letter says then. I did use a couple of online calculators when I first started the ball rolling to work out how much I could be owed, which came back at around £1300, although not every calculator gave the exact same result. Is there a universally accepted method or online calculator I can use?

quidsy

basically whatever you paid plus 8% interest. Wait for the letter though as you might not have paid as much ppi as you thought.

Boovis

Pink1808 wrote: »

This thread is for successes and failures try starting a new thread with your info hope this helps

And when you say they have told you 4 week settlement have they up held your complaint?

Yes, they have and awarded me over £7700

amersall

Boovis wrote: »

Yes, they have and awarded me over £7700

:j Well done:beer: