PPI Reclaiming successes and failures

dawnmarie_2

Hi all

I got some good news on Saturday, The final decision has gone my way and Barclays have been instructed to put me in the position i would have been in had i not taken out the PPI plus £200 for distress.
However, i might just be stupid, but even though they've outlined how Barclays should calculate the refund (i settled early) I have no idea how to work it out for myself. I've outlined the figures below and if anyone is able to shed any light on the figures i'd really appreciate it!

Loan £5700 over 60 months
PPI £1510.63
Interest 19.9% (yes, i appreciate the stupidity of taking this loan out at these rates)
Total amount payable including interest £11,083.20

Loan was settled early after 31 months and £357 was refunded to me

As above, if anyone can help, i really would appreciate the help. I just want to understand the figures i should be seeing from Barclays when they send me a breakdown. I've lost any trust i had for them

Happy Sunday everyone

Dawn )

di3004

dan_smith wrote: »

Hi guys, had some good news from the bank, after about 8 weeks or so Natwest finally got back to me offering me £1300 in PPI on a £5000 loan I took out over 5 years ago now. Am very pleased and thank full of everyone on here for advice and good will!!!

Dan

Dan

Well done to you, Congratulations.
:beer::T:beer:

di3004

dawnmarie wrote: »

Hi all

I got some good news on Saturday, The final decision has gone my way and Barclays have been instructed to put me in the position i would have been in had i not taken out the PPI plus £200 for distress.
However, i might just be stupid, but even though they've outlined how Barclays should calculate the refund (i settled early) I have no idea how to work it out for myself. I've outlined the figures below and if anyone is able to shed any light on the figures i'd really appreciate it!

Loan £5700 over 60 months
PPI £1510.63
Interest 19.9% (yes, i appreciate the stupidity of taking this loan out at these rates)
Total amount payable including interest £11,083.20

Loan was settled early after 31 months and £357 was refunded to me

As above, if anyone can help, i really would appreciate the help. I just want to understand the figures i should be seeing from Barclays when they send me a breakdown. I've lost any trust i had for them

Happy Sunday everyone

Dawn )

Brilliant Dawn, Congratulations. :beer::T:beer:

Sorry I am unable to work out calculations myself, but sure someone will come along to take a look at these soon.;)

dawnmarie_2

Thanks Di3004

To be honest, i'm still in a state of :j

It's taken time but it's been worth every second. I'm still looking forward to going in to Barclays and closing down my account. it won't dent in to their profits too much but it will make me feel a whole let better and satisfied with myself :rotfl:

amersall

di3004 wrote: »

Hi Dot Com

Sorry to hear of your health issues and hope all is well now.

Listen to the recordings again, is there anything they have missed, did they fail to tell you it was optional, did they give you that option, and if this was over the 5 years for a loan of a longer period, did they explain it would be added to the loan and that you will still be paying for this until after the ppi term?

Even if you agreed with it, you may have assumed it was all part of taking out the policy ???

I would like I said above listen to the recordings again and see if there is anything amiss and for the fact that you were sold this despite your pre existing med conditions, you have a case anyway......

So as this was the final response, personally I would now go to the Financial ombudsman service (FOS) who will take into consideration 2 sides and even your medical condition.

Just for you to know that even on our recordings some of it sounded like we agreed to it, but there is more to it than that - that the FOS will look into.;)

You can either ring the FOS or download a form from their site, remember to enclose a copy of the correspondence and give your version of how you were mis sold this.
Good luck and post up for more help if required.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

yes di is right, this was mis sold, first plus are not at the front of the queue for telling the truth! they will not have told you this ppi was front loaded or you would only be covered for five years but continue paying ppi for the remaining term of the loan, go for it take it to fos first plus are hoping you will go away, good luck with this and please keep us posted

amersall

:j:j:j:j:j:jwell done to all weekend winners, congrats to you all :beer::beer::money:

funkyc27

Will this be the week we finally hear about Pictures default?!?!?:o

di3004

funkyc27 wrote: »

Will this be the week we finally hear about Pictures default?!?!?:o

I do certainly hope so, good luck.;)
Maybe I will hear something about Twopart ltd after that lol....:D

Fingers crossed funky.:AXX

funkyc27

Let hope so, its June now and they said a few weeks a few weeks ago lol!

di3004

funkyc27 wrote: »

Let hope so, its June now and they said a few weeks a few weeks ago lol!

Will keep everything crossed.;)

I would email them again lol......:D