PPI Reclaiming successes and failures

amersall

End of day I'm getting something back which is great

It is good but if they owe you more then you want it.

Jakip

These were the ppi amounts. I don't have original documents anymore however this is quoted on the original request for information from RBS as the insurance premium. After I received this information i then applied for mis-sold ppi. For both i took loans direct with RBS .

I will ask the bank for a breakdown .. Thanks for advice.

amersall

It could be the lack of info for these loans and only having the PPI amounts due to the year they were taken out, they may have done a comparative redress due to not knowing if the loans were settled or a claim was made.
I am sure RBS will let you know how they worked this out, let me know how you get on.

Rocker666

Just wanted to share another success, I hope it encourages others to claim (and do it themselves, not use a claims company who take a hefty cut)!

2x loans from the Halifax. Paid PPI on both of them.

Got a letter today with a breakdown of each amount, totalling £5800! Cheque will follow apparently! It's been about 8 weeks since I wrote to them. The amount includes 8% per annum interest too.

I just hope I get the cheque soon! Thanks to Martin and all the helpful advice on this site! :beer:

Jakip

If it has been calculated on comparative redress can i query this and ask them to recalculate my settlement figure ?

amersall

I wouldn't think so as you or the bank do not have proof that the loans ran to term and you did not make a claim.
No harm in asking, you have nothing to lose.

dunstonh

Jakip wrote: »

If it has been calculated on comparative redress can i query this and ask them to recalculate my settlement figure ?

This effectively means they have not upheld your complaint on the basis of unsuitable or mis-sale. It is just an acknowledgement that it should have been monthly premium instead of single premium.

amersall

Thanks dunstonh, did not think about what comparative meant, having a blonde moment!.

amersall

Although the op does not know what the redress is or how it was worked out, we can only guess until they contact RBS and ask.

dottyf

I have just heard that my case is upheld. Loan took out in 1993 for ten years but paid off after four years. Could you please explain how this is calculated. Will the amount of ppi paid also have attendant interest as well as the 8%. Feel in a bit of a fog how calculations on loans are carried out. Many thanks for your help.