PPI Reclaiming successes and failures

beaniebabe

Can anyone offer any advice in respect of this situation. I have recently taken out a debt management plan due to my husband being on short time at work and our financial situation getting worse.
I opened another account for money to be paid into.
The free company that are dealing with the DMP have contacted HSBC with an offer of a monthly repayment to my loan that I have with them.
However due to the full cost of the monthly repayment not being made, HSBC have charged me £25. They will also be charging me an additional £25 at the end of the month.
I informed HSBC two months ago that I needed to contact the debt management company and explained my circumstances. I asked them if I could cancel my loan direct debit in order to prevent charges accumilating, but was informed I could not do this.
I also made a claim for previous bank charges to be refunded under the hardship rules but was informed I did not meet the criteria,(despite charges over the year being over £500).
I have recently asked if I can close the account in order to prevent further charges on my account. HSBC have informed me that I can not do this.
I am really trying to get some control over my finances. Can the bank refuse to close my account and what else can I do about this situation.

beaniebabe

southmoss wrote: »

beaniebabe wrote: »

How much was the loan for?
What was the total amount of PPI

Southmoss

The loan amount was a lot!! The PPI ridiculous! (12.500)
My question to you was not in respect of the PPI as there is not a lot I can do about it cos the firm is yet to be declared in default.
My question to you was do I have a duty to pay the company that are now taking my repayments for my picture loan. As far as I can see, my contract was with Picture. If I do not pay the monthly repayment, what legaly can the company do about it if they are in liquidation?:o

melorablack

southmoss wrote: »

all ppi complaints should be upheld because it's all a big rip off. Ppi should never have been sold. Period.

And that is why block policies are banned at the end of the month.

:d

Not all PPI is a "block" single premium policy.

ntskylife

Hi All

Just wanted to give you an update from Barclays PPI. I got the usual 8 week stall letter where they advised they need another four weeks. So off to the FOS the letters and documents went. So I guess I just have to sit and wait now. Thanks

ntskylife

beaniebabe wrote: »

Can anyone offer any advice in respect of this situation. I have recently taken out a debt management plan due to my husband being on short time at work and our financial situation getting worse.
I opened another account for money to be paid into.
The free company that are dealing with the DMP have contacted HSBC with an offer of a monthly repayment to my loan that I have with them.
However due to the full cost of the monthly repayment not being made, HSBC have charged me £25. They will also be charging me an additional £25 at the end of the month.
I informed HSBC two months ago that I needed to contact the debt management company and explained my circumstances. I asked them if I could cancel my loan direct debit in order to prevent charges accumilating, but was informed I could not do this.
I also made a claim for previous bank charges to be refunded under the hardship rules but was informed I did not meet the criteria,(despite charges over the year being over £500).
I have recently asked if I can close the account in order to prevent further charges on my account. HSBC have informed me that I can not do this.
I am really trying to get some control over my finances. Can the bank refuse to close my account and what else can I do about this situation.

HI Beaniebabe

It would be best to go to the Consumer Credit Councilling Service which is a charity organisation who will work with your situation in mind not the companies, good luck

funkyc27

di3004 wrote: »

Great news, Congratulations !
:beer::T:beer:

Hi di3004 hope you are well!! Still sitting waiting!!:p

Nicky9

I received a letter from A&L stating I could possibly reclaim the PPI I've been paying on an existing loan. I wrote back & have been told A cheque will arrive for around £430 (don't have letter to hand). The loan has now been cancelled & a new loan set up for the balance.

The balance of the old loan was £4,202.10 with 6 payments left - the new loan with the latest interest rate now has a balance of £4,728.36 with 7 payments left, an additional £526.26. Less the cheque they're sending me I'll be out of pocket by approx £100.00

If you're claiming on an existing loan, make sure you don't get stung by these greedy bankers.

di3004

funkyc27 wrote: »

Hi di3004 hope you are well!! Still sitting waiting!!:p

Hi hun
Not too bad thank you. And you?:A

Hope you hear very soon, fingers crossed.;)X

maxdp

A and L (MBNA) have now supplied confirmation that the amount they are going to refund is just under £1200 incl interest and 8%. That was for PPI on a credit card upheld by FOS.

Now awaiting figures from PPI on Barclaycard Credit Card.

di3004

maxdp wrote: »

A and L (MBNA) have now supplied confirmation that the amount they are going to refund is just under £1200 incl interest and 8%. That was for PPI on a credit card upheld by FOS.

Now awaiting figures from PPI on Barclaycard Credit Card.

Fantastic news Max........:T:T

Well done to you, Congratulations.:D:beer:XXX