PPI Reclaiming successes and failures

Apothecary123

Hi, Money-owed, you asked for the address for Citi Card,

Citi Card, PO Box 4904, Worthing, BN99 3AS

Good luck with your claim.

Just as an update my OH had a Citi account too, which went in on the same day as mine, as we applied for separate accounts at the same time too, his is still being investigated.

rising_from_the_ashes

What were you reclaiming: Credit Card PPI

Who was the provider: Barclaycard

How much did you get back: £415

Sent off the forms I got ages ago & then realised I'd not heard anything. Phoned CCP about a month ago to discover they'd not received them - new ones sent and filled them in & returned ASAP due to looming deadline. Used Martin's guide for completing the forms and ...... cheque received today!

Very pleased, it means I can clear off the last of my overdraft :T :j

Apparently I can also lodge a claim direct to B/card for pre-2005 so must do that too!

taiwan01

Hello. It seems I have had a complaint upheld. I thought that when this happens the company should repay the PPI premiums they had charged the account, plus interest that was imposed on those charges and 8% simple interest?

I shall tell you what the FOS have written and wonder if this is different to what I have written above. If that makes sense?

A: Carry out a hypothetical reconstruction of the credit card account to find out what the current balance of the credit account would have been if XXX had paid the same monthly payments, but the PPI ploicy had not been added to the account.

This will involve (company) removing the PPI premiums, any interest that was charged on the premiums and any charges (and interest on those charges) that would not have applied if the PPI had not been added to the account.

(Company) should then pay XXX the difference between the current balance and what the current balance would have been without PPI.

So, my question is, does this differ to what I thought would happen? Simply repaying me the PPI plus interest?

Many thanks for any advise received.

pete-20-11

taiwan01 wrote: »

Hello. It seems I have had a complaint upheld. I thought that when this happens the company should repay the PPI premiums they had charged the account, plus interest that was imposed on those charges and 8% simple interest?

I shall tell you what the FOS have written and wonder if this is different to what I have written above. If that makes sense?

A: Carry out a hypothetical reconstruction of the credit card account to find out what the current balance of the credit account would have been if XXX had paid the same monthly payments, but the PPI ploicy had not been added to the account.

This will involve (company) removing the PPI premiums, any interest that was charged on the premiums and any charges (and interest on those charges) that would not have applied if the PPI had not been added to the account.

(Company) should then pay XXX the difference between the current balance and what the current balance would have been without PPI.

So, my question is, does this differ to what I thought would happen? Simply repaying me the PPI plus interest?

Many thanks for any advise received.

It sounds very similar - the only thing that appears to be missing is the 8% taxable simple interest on top, which the courts would apply.

Is your account still open though? Maybe you don't get the 8% for accounts that are still open - as the recalculation above would be to today, rather than to when the debt was settled?

amersall

The 8% should be paid regardless of the account being open/closed.
Op needs to contact FOS and ask about this if he gets the letter of calculation from the bank and it does not show the 8%.

Ampster

What were you reclaiming: Credit Card PPI

Who was the provider: MBNA

How much did you get back: £14063

I cannot believe it.... didn't think I would get much as I assumed that the PPI had only been added recently. Apparently it has been applied to my account since I opened it!

Wasn't going to bother too much (thought it was only a few quid). In the end, kept reading others tales and thought what did I have to lose?

Filled in a form, sent it off 5 weeks ago and got the verdict in the post today. I really cannot thank moneysavingexpert (and all the forum community enough), for giving me the confidence to fill that form in.

Truely amazed at the result.

Littlemeezer

Ampster wrote: »

What were you reclaiming: Credit Card PPI

Who was the provider: MBNA

How much did you get back: £14063

I cannot believe it.... didn't think I would get much as I assumed that the PPI had only been added recently. Apparently it has been applied to my account since I opened it!

Wasn't going to bother too much (thought it was only a few quid). In the end, kept reading others tales and thought what did I have to lose?

Filled in a form, sent it off 5 weeks ago and got the verdict in the post today. I really cannot thank moneysavingexpert (and all the forum community enough), for giving me the confidence to fill that form in.

Truely amazed at the result.

Well done you easy peasy really. Why not get back what you are rightfully owed. I hesitated on the CPP one, no details, to old I thought, one phone call, when I found out who had sold it to me I was furious, so filled in the form and bingo £167 thank you very much. Just wished others would do what you have done. Don't forget to check to see if there are anymore you may have forgotten about, I've just found another three by pure accident, very old but hey, the letters have gone off, fingers crossed.

bigrednose

Thanks Amersall,


The claims that they have not been able to deal with, they have sent written confirmation saying so and confirming that they have closed their file on that particular claim. So, does that mean if I pick up where they have failed I will have to pay them for the pleasure of doing their work for them? We'll have to see!


So far they have not been very successful as not one of the claims have been 'fruitful' for want of a better word. I actually think that you get what you pay for...in his case not much! I might be slow at times, but I really do learn my lessons, especially when it concerns money! Thanks

taiwan01

pete-20-11 wrote: »

It sounds very similar - the only thing that appears to be missing is the 8% taxable simple interest on top, which the courts would apply.

Is your account still open though? Maybe you don't get the 8% for accounts that are still open - as the recalculation above would be to today, rather than to when the debt was settled?

Hi. Thanks for the reply. Yes, the 8% interest was also included. It's just the wording of the letter that confused me. So you think it's a simple case of refund PPI premiums plus interest plus 8% additional simple interest?

hookes789

Ampster wrote: »

What were you reclaiming: Credit Card PPI

Who was the provider: MBNA

How much did you get back: £14063

I cannot believe it.... didn't think I would get much as I assumed that the PPI had only been added recently. Apparently it has been applied to my account since I opened it!

Wasn't going to bother too much (thought it was only a few quid). In the end, kept reading others tales and thought what did I have to lose?

Filled in a form, sent it off 5 weeks ago and got the verdict in the post today. I really cannot thank moneysavingexpert (and all the forum community enough), for giving me the confidence to fill that form in.

Truely amazed at the result.

Hi


This is an amazing result. If you don't mind me asking, how much of this was premiums/interest?? I'm trying to gauge my credit card refund of about the same timescale.


Thanks