PPI Reclaiming successes and failures

di3004

carlw wrote: »

Hi All

A Little advise would be greatly welcomed.

Started a PPI claim with Egg over 18 months ago now, to cut a long story short, i didn’t get anywhere with Egg so progressed to the Financial Ombudsman who took ages to start dealing with my complaint. Finally received a call last week from an adjudicator, who asked me some questions. Following this i received a letter from him informing me he finds in my favour and included a copy of the letter he sent to Egg informing them to refund everything putting me in the position i would have been if i had not had PPI, plus £300 compensation on top and they have until 12 May to agree or disagree.

My questions are, i have no idea how much PPI i am reclaiming as i had 4 loans from 5,000 - 15,000 with egg over long periods (but paid off after 1 or 2 years), each paid off the previous and then the final loan was paid off in full 2.5 years ago. Im sure that each time the loans are paid off early majority of the PPI is refunded before a new PPI is set up.
I can not see how Egg can/will work this figure out in 2 weeks?
How will i know this amount is correct?
Are there cases out there where the bank rejects the adjudicators opinion, i know its possible but has anyone heard of it happening?

Many thanks

Carl

Hi Carl

Wow looking good then.:T

It is known now that the FOS requests the other parties to include full calculations, if anything the adjudicator thinks is amiss, they will be on to them on your behalf.

One of mine last year was paid in 2 separate cheques, when the one cheque was paid out the ombudsman noticed there was more to come and within a few weeks the other cheque payment arrived.;)

Good luck.

ElastiMum

carlw wrote: »

Hi All

A Little advise would be greatly welcomed.

Started a PPI claim with Egg over 18 months ago now, to cut a long story short, i didn’t get anywhere with Egg so progressed to the Financial Ombudsman who took ages to start dealing with my complaint. Finally received a call last week from an adjudicator, who asked me some questions. Following this i received a letter from him informing me he finds in my favour and included a copy of the letter he sent to Egg informing them to refund everything putting me in the position i would have been if i had not had PPI, plus £300 compensation on top and they have until 12 May to agree or disagree.

My questions are, i have no idea how much PPI i am reclaiming as i had 4 loans from 5,000 - 15,000 with egg over long periods (but paid off after 1 or 2 years), each paid off the previous and then the final loan was paid off in full 2.5 years ago. Im sure that each time the loans are paid off early majority of the PPI is refunded before a new PPI is set up.
I can not see how Egg can/will work this figure out in 2 weeks?
How will i know this amount is correct?
Are there cases out there where the bank rejects the adjudicators opinion, i know its possible but has anyone heard of it happening?

Many thanks

Carl

Hi Carl

I was in a similar position to yourself. Firstly I successfully reclaimed PPI from one current loan with Egg that I had - got the full amout of PPI sold + interest back - all without going to the Ombudsman. :j
The second claim I was less sure about as like you, it was from a few years back and was a loan to cover previous loans etc etc. About 4 weeks ago I received 3 cheques from Egg (again without going to the Ombudsman) - totalling £1366.
In the letter they detailed each loan, the amount of PPI they refunded when the loan was restructured and a new loan taken out, and the amount of PPI they would refund for each.
It wasn't as much as I had hoped and didn't seem to include statutory interest, but I was glad to receive anything from them.

Hope this gives a better idea of what you might expect to receive.

best of luck
Elastimum!

amersall

girlatplay wrote: »

Thanks amersall. I wasn't in arrears and I have never missed or been late with a payment in the 2 years I have had the loan so far. This has been suggested to me before but I decided that because it is not really a big amount (in comparison to my outstanding loan!!!), I might as well have it reduce my loan amount rather than spend it unnecessarily. If it was £2000 I would definitely think a bit differently! It is money I thought was gone so I won't miss it.

hi, if that suits thats great, once again well done

carlw

Ill keep my fingers crossed that i have some success then, and that its as much as poss. Anything at all is a bonus though!

Thanks both of you for taking the time to respond with very helpful comments.

All the best :A

Carl

joneseylee

I have two claims being looked into at the moment 1x with egg loans who i have contacted the fos about so await news on that one and 1x with northern rock.
Northern rock have offered me just short of £1000 as a gesture of good will.Ha Ha whoever heard of a bank paying £1000 as a gesture of good will? This figure is about £900 short of the difference i would have saved had ppi not been added to my loan so i have written back to the fos. I cross my fingers and wait.

di3004

joneseylee wrote: »

I have two claims being looked into at the moment 1x with egg loans who i have contacted the fos about so await news on that one and 1x with northern rock.
Northern rock have offered me just short of £1000 as a gesture of good will.Ha Ha whoever heard of a bank paying £1000 as a gesture of good will? This figure is about £900 short of the difference i would have saved had ppi not been added to my loan so i have written back to the fos. I cross my fingers and wait.

Good luck to you joneseylee.:T;)
Good one.:beer:

amersall

joneseylee wrote: »

I have two claims being looked into at the moment 1x with egg loans who i have contacted the fos about so await news on that one and 1x with northern rock.
Northern rock have offered me just short of £1000 as a gesture of good will.Ha Ha whoever heard of a bank paying £1000 as a gesture of good will? This figure is about £900 short of the difference i would have saved had ppi not been added to my loan so i have written back to the fos. I cross my fingers and wait.

good luck, you go for it

bettykitten_69

I started a PPI claim on my partners capital one card in March 09. They sent the standard letter in April 09 stating he had not been mis-sold. I responded stating that he felt he had and if they failed to refund would contact the FOS.

They have responded today stating they will return the full £175.79 plus interest bringing the total to £189.85. Not a massive payout but all helps.

All for the cost of 2 letters send recorded delivery 2nd class.

showergirl

bettykitten_69 wrote: »

I started a PPI claim on my partners capital one card in March 09. They sent the standard letter in April 09 stating he had not been mis-sold. I responded stating that he felt he had and if they failed to refund would contact the FOS.

They have responded today stating they will return the full £175.79 plus interest bringing the total to £189.85. Not a massive payout but all helps.

All for the cost of 2 letters send recorded delivery 2nd class.

Well done:j:j

amersall

:j:j:jwell done to all winners today :beer::beer::money: