PPI Reclaiming successes and failures

pete-20-11

dottyf wrote: »

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.

I think the normal way is to work out what the loan would have cost without the PPI - e.g. Remove the PPI payments, remove the interest on the PPI payments.

Then a simple 8% interest on top.

amersall

dottyf wrote: »

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.

You will get what has already been stated by pete-20-11, less the rebate they gave you when you repaid the loan early.

dottyf

Many thanks to Amersall and Pete 20-11. I understand now.

amersall

You are welcome and well done on your win!.

brownm0435

Hi All! I wonder if someone is able to give some advise. I have today been informed by Argos, I am owed over £2500 in PPI. Now the downside is, due to the fact I was subjected to a DRO which ended Dec 2014, they are offsetting £1900 of it to pay off the card (which was 100% included in the DRO) and sending me a cheque for the remaining funds and are saying that FOS wont be able to help. Am I able to claim the full amount and how? Any advise is much appreciated. Thanks!!!

Nasqueron

brownm0435 wrote: »

Hi All! I wonder if someone is able to give some advise. I have today been informed by Argos, I am owed over £2500 in PPI. Now the downside is, due to the fact I was subjected to a DRO which ended Dec 2014, they are offsetting £1900 of it to pay off the card (which was 100% included in the DRO) and sending me a cheque for the remaining funds and are saying that FOS wont be able to help. Am I able to claim the full amount and how? Any advise is much appreciated. Thanks!!!

There are threads on the forum suggesting that even if you have been through a DRO you are entitled to the lot but would have to make a formal complaint about it if they have offset. Search the forum for "ppi DRO" for more advice

That said, the moral question of running up debts, not paying back £1900, getting a DRO and then complaining they haven't paid you back the full PPI refund in turn I would leave to your conscience.

brownm0435

Nasqueron wrote: »

There are threads on the forum suggesting that even if you have been through a DRO you are entitled to the lot but would have to make a formal complaint about it if they have offset. Search the forum for "ppi DRO" for more advice

That said, the moral question of running up debts, not paying back £1900, getting a DRO and then complaining they haven't paid you back the full PPI refund in turn I would leave to your conscience.

Conscience clear buddy! Wasn't a complaint, it was a question, but thanks for your input! Much appreciated!

However, don't you think that over two grands worth of ppi and interest would ha e contributed to the debt in the first place?

Jakip

Hi there

Just an update on my questions re PPI claim against RBS spoke to bank today and the letter that was sent was only for 1 part of my claim ie the 267 part and they are still looking at the 1591 part ... Which they called a linked loan to the original (how that can be 2 years apart I don't know so keeping fingers crossed I get this back also) So thanks for the advice
guys.. can't tell you how much appreciate it. And to anyone thinking they may have something.. write a letter and ask.. costs nothing more than a stamp and you could be in line for a surprise.

amersall

Jakip wrote: »

Hi there

Just an update on my questions re PPI claim against RBS spoke to bank today and the letter that was sent was only for 1 part of my claim ie the 267 part and they are still looking at the 1591 part ... Which they called a linked loan to the original (how that can be 2 years apart I don't know so keeping fingers crossed I get this back also) So thanks for the advice
guys.. can't tell you how much appreciate it. And to anyone thinking they may have something.. write a letter and ask.. costs nothing more than a stamp and you could be in line for a surprise.

That is good news

brownm0435

brownm0435 wrote: »

Hi All! I wonder if someone is able to give some advise. I have today been informed by Argos, I am owed over £2500 in PPI. Now the downside is, due to the fact I was subjected to a DRO which ended Dec 2014, they are offsetting £1900 of it to pay off the card (which was 100% included in the DRO) and sending me a cheque for the remaining funds and are saying that FOS wont be able to help. Am I able to claim the full amount and how? Any advise is much appreciated. Thanks!!!

Well received a cheque today from Argos for £673, so I would argue that it is another successful PPI claim resolved AND it was a second attempt, after initially being wrongly rejected in 2012, SO [EMAIL="DON@T"]DON'T[/EMAIL] GIVE UP!!!. Before banking the cheque, I have seeked further advise elsewhere about my attached post and will post the outcome once I've had a reply.