PPI Reclaiming successes and failures

pinknico

dazman20032003 wrote: »

HI di
i also recieved a letter from him just to say that he was looking into resolving the complaint informally , is this standard practice too , think it may be to do with the fact the claim is for ppi on a c/c but i filled in the application online , after being advised on the phone take the ppi ?

Same thing happened to me,exact same complaint with Egg,c/c online PPI
complaint.

skintmumofone

selecta_c wrote: »

When Welcome settle your claim you will get a breakdown of the money you have reclaimed.Check this against your paperwork if you still have it,if not phone Welcome and ask for a copy.There maybe someone on here who knows more than me about this?

I have a query about the above.....just received a letter from FOS today can anyone tell me if this is the same as the previous poster got.

Dear.....

I am pleased to be able to let you know that following our intervention, WF has agreed to make an offer to you. I consider that the offer is in line with out guidance and appropriate given the curcumstances of your complaint. I am therefor writing to explain the terms of the offer.

It is important to understand that this offer is subject to you agreeing to the cancellation of the payment protection insurance policy (or policies) - if still in force. This will mean that all insurance cover provided by the policy will be lost.......it goes on about alternative insurance options and to check with the FSA.

The settlement of your complaint will be calculated by taking into account the type of PPI policy or policies you have - and whether or not there is still a loan in force. We have set out our typical approach to redress in a factsheet at the end of this letter.

WFSL's offer also includes £200 compensation for any distress and inconvenience you may have been caused and this is in my view appropriate given the circumstances of your complaint.

It then mentions about accepting the offer and signing the enclosed settlement form to them by 19th August.....and then that it might take up to 8 wks for them to pay out.....???

Does this mean that I will get the whole lot back plus the 8% interest or that they will make me a smaller offer?

Dont want to sign anything until I know I am doing the right thing as hubby just wants us tosign but thought I would check first with you guys. Any help would be greatly appreciated.

Cheers
X

di3004

traz39 wrote: »

how do u work out what they are gonna pay u they have to put me back where i would have been having not taken out the ppi and also i had a loan which i payed off to take out this one plus 8% plus interest:rolleyes:

Hi Traz

For more information on this Maxdp posted a thread on how the FOS calculates refunds, hope this helps, good luck.;)
http://forums.moneysavingexpert.com/showthread.html?t=1596473

barloo69

traz39 wrote: »

how do u work out what they are gonna pay u they have to put me back where i would have been having not taken out the ppi and also i had a loan which i payed off to take out this one plus 8% plus interest:rolleyes:

Alternativetly post up the figures / dates etc & Im sure someone will advise .

pinknico

skintmumofone wrote: »

I have a query about the above.....just received a letter from FOS today can anyone tell me if this is the same as the previous poster got.

Dear.....

I am pleased to be able to let you know that following our intervention, WF has agreed to make an offer to you. I consider that the offer is in line with out guidance and appropriate given the curcumstances of your complaint. I am therefor writing to explain the terms of the offer.

It is important to understand that this offer is subject to you agreeing to the cancellation of the payment protection insurance policy (or policies) - if still in force. This will mean that all insurance cover provided by the policy will be lost.......it goes on about alternative insurance options and to check with the FSA.

The settlement of your complaint will be calculated by taking into account the type of PPI policy or policies you have - and whether or not there is still a loan in force. We have set out our typical approach to redress in a factsheet at the end of this letter.

WFSL's offer also includes £200 compensation for any distress and inconvenience you may have been caused and this is in my view appropriate given the circumstances of your complaint.

It then mentions about accepting the offer and signing the enclosed settlement form to them by 19th August.....and then that it might take up to 8 wks for them to pay out.....???

Does this mean that I will get the whole lot back plus the 8% interest or that they will make me a smaller offer?

Dont want to sign anything until I know I am doing the right thing as hubby just wants us tosign but thought I would check first with you guys. Any help would be greatly appreciated.

Cheers
X

Yes you will get back all that you should get back and 8%.

skintmumofone

pinknico wrote: »

Yes you will get back all that you should get back and 8%.

Thanks for your reply am signing the form today and will send it back to the FOS. I am putting a covering letter in with it to say I want a breakdown of all charges and payments too and will they be restructuring my loan. Also with me having arrears the interest they added to it was quite high my initial loan was for 15,000 with the PPI for just under £3000 I paid this since 2006 and I got a statement in May saying my balance was £18000+ so am looking forward to it going down by much more. They said I had 5 months of arrears which would be about £1000 but I have been paying an extra £60 for the last 8 months to them so should only be about £600 left to pay them then my payments should go down a bit which will be great, am so pleased.

Nice start to my holidays I think hehe am off for 2 wks now so am looking forward to buying my son a trampoline he has wanted for months and doing my garden back and front and putting new doors on the house. Will be good too for xmas.

Have a very large one with FP so its just about to go to the FOS. That one is in excess of £10k so am really looking forward to that one! Thanks again everyone:beer::beer:

di3004

skintmumofone wrote: »

Thanks for your reply am signing the form today and will send it back to the FOS. I am putting a covering letter in with it to say I want a breakdown of all charges and payments too and will they be restructuring my loan. Also with me having arrears the interest they added to it was quite high my initial loan was for 15,000 with the PPI for just under £3000 I paid this since 2006 and I got a statement in May saying my balance was £18000+ so am looking forward to it going down by much more. They said I had 5 months of arrears which would be about £1000 but I have been paying an extra £60 for the last 8 months to them so should only be about £600 left to pay them then my payments should go down a bit which will be great, am so pleased.

Nice start to my holidays I think hehe am off for 2 wks now so am looking forward to buying my son a trampoline he has wanted for months and doing my garden back and front and putting new doors on the house. Will be good too for xmas.

Have a very large one with FP so its just about to go to the FOS. That one is in excess of £10k so am really looking forward to that one! Thanks again everyone:beer::beer:

Brilliant news :j:T
Well done and Congratulations.:beer::T:beer:

rosemahairy

What a lovely day it is today. My chickens have hatched and the fat lady is singing. I have been complaining against miss sold PPI on Welcome financesince Feb 2008. Got a big fat cheque today for over £2980....wahey!!! They have sent a break down which i haves still to check thru but it seems about right and it includes £200 compo for the trouble. Cant believe it thats me done now debt free!!!!! Just my mothers to sort out now. Im off to the pub to celebrate....
Cheers everyone x:j

Mollypops1_2

• What were you reclaiming: Credit Card PPI
• Who was the provider: Halifax
• How much did you get back: £4,960
• Did you get it back after a letter or did you go to the Financial Ombudsman: 1 letter taken from template on website

I sent a letter to Halifax approx 6 weeks ago, taken from this website and adapted to my circumstances. I was claiming £3,900 (PPI plus 8% interest). Got back off holiday yesterday to find a letter waiting, stating that they would amend my account to put it back to how it would have been if I had never taken out the PPI. Checked online today and they have refunded me £3,200 PPI, interest of approx £1,800. All for the price of a stamp!

I am absolutely delighted and want to thank this website for all the templates and advice made available. I still have some ongoing requests for other PPI and charges for myself and my husband from other cards/loans which I am hoping will be just as successful.

Thanks again

di3004

rosemahairy wrote: »

What a lovely day it is today. My chickens have hatched and the fat lady is singing. I have been complaining against miss sold PPI on Welcome financesince Feb 2008. Got a big fat cheque today for over £2980....wahey!!! They have sent a break down which i haves still to check thru but it seems about right and it includes £200 compo for the trouble. Cant believe it thats me done now debt free!!!!! Just my mothers to sort out now. Im off to the pub to celebrate....
Cheers everyone x:j

Wow Rosemahairy, this is fantastic, well done and Congratulations.:j
Party away :beer::beer:X