PPI Reclaiming successes and failures

toriitom

I got a loan from Capital One (C1) back in 2004 with non-requested PPI on it. At the end of 2006, I became unwell and was not able to maintain my payments. C1 transferred a balance of £5000+ to a Debt Recovery Agency, who I am continually paying at a much-reduced rate.

The PPI was about £2500 and C1 eventually agreed that, because I was not working at the time the Loan started, I should have not had PPI. I used the standard letter templates to request the return of the PPI. C1 initially offered a sum that was laughable to say the least. Eventually they offered a more reasonable sum of about £1900. My calculations were less than theirs, at about £1800. My second problem with C1 is that the amount they transferred to the Debt Recovery Agency was about £1700 too much.

The last letter I wrote to C1 explained the situation regarding the PPI and the wrong amount they gave to the DRA. I gave them 14 days to reply and after over 21 days with no reply, I decided to use MoneyClaim On-Line to see if I could get my £3500 and have this matter sorted. That was on 16 October 2009.

Yesterday (21/1009), I received two letters - the first from C1 dated 16/10/09 explaining how they reached their £1800 PPI figure. The second was from the Court Service to say that C1 lodged papers (dated 20/10/09) to say that they will be defending the claim. It seems strange that C1 did not bother to answer my previous letter for three weeks but when I serve papers on them, they reply.

I realise that this could be a stalling tactic and C1 may not defend the case. I am very nervous about going to court, I am wondering what should I do.

amersall

susdolly wrote: »

Thanks you Martin you are a star!!!!
I eventualy got round to downloading your template letter to reclaim PPI missold on 2 bank loans with barclays bank. One I took out in 2004 and repaid early, the second loan is still current. I took out a loan for £7.500 IN 2007 and thought I had to have PPI . The loan from 2004, 3 weeks after sending letter My bank account was credited by aprox £800. This was I assume PPI on the 2004 loan.
Now the current loan which I still owe £4522.02 on with payments of £177.44 per month over 5 years. They have sent out a new loan agreement for me to sign saying amount of loan £3900 monthly repayments without PPI £140.78 and total charge for credit £323.40 interest 6.265% number of repayments 30 months Total amount repayable £4223.40. I am confused, why do I have to take out another loan which will cost me more money, instead of getting a deduction from loan owed.

hi there,i presume this was barclays deal and you did not win mis sell through fos? the new loan is the original loan you took without the ppi, check your original loan agreement and the months to repay and the interest rate, these should be the same if they are not phone fos, i would also look at your 1st loan and see what the original ppi was as they may have duped you with that. the figures you gave for your new loan seem about right as you have paid 30 months out of the 6o months so this loan will finish when the old one should have and if your balance was 4522 it is less than it was before the new loan, hope you understand this, did you not get the ppi back that you paid on the second loan?

amersall

:beer::beer: well done to all winners so far this week :j:j:j:j:j:jexcellent:money:

worry_alot

Bank Lloydstsb
How Much Claimed £659.49
How Much offered £659.49 + 8% intrest
Hi all this is my second success with PPI so u dont all fall asleep will just give a brief detail. I sent my clain in back in June this year kept phoning them up and kept getting told they are waiting for forms from branch where loan was taken out, anyway went on for months then 3 weeks ago phoned them up and was told the same rubbish so i said "take your time its more intrest for me" lol what you know it is sorted now just waiting for bank charges so for all you fighting Lloydstsb dont give up together we will put them in their place!

di3004

worry_alot wrote: »

Bank Lloydstsb
How Much Claimed £659.49
How Much offered £659.49 + 8% intrest
Hi all this is my second success with PPI so u dont all fall asleep will just give a brief detail. I sent my clain in back in June this year kept phoning them up and kept getting told they are waiting for forms from branch where loan was taken out, anyway went on for months then 3 weeks ago phoned them up and was told the same rubbish so i said "take your time its more intrest for me" lol what you know it is sorted now just waiting for bank charges so for all you fighting Lloydstsb dont give up together we will put them in their place!

Brilliant, well done to you.
Congratulations.
:beer::T:beer:

PaulinWeston

toriitom wrote: »

I got a loan from Capital One (C1) back in 2004 with non-requested PPI on it. At the end of 2006, I became unwell and was not able to maintain my payments. C1 transferred a balance of £5000+ to a Debt Recovery Agency, who I am continually paying at a much-reduced rate.

The PPI was about £2500 and C1 eventually agreed that, because I was not working at the time the Loan started, I should have not had PPI. I used the standard letter templates to request the return of the PPI. C1 initially offered a sum that was laughable to say the least. Eventually they offered a more reasonable sum of about £1900. My calculations were less than theirs, at about £1800. My second problem with C1 is that the amount they transferred to the Debt Recovery Agency was about £1700 too much.

The last letter I wrote to C1 explained the situation regarding the PPI and the wrong amount they gave to the DRA. I gave them 14 days to reply and after over 21 days with no reply, I decided to use MoneyClaim On-Line to see if I could get my £3500 and have this matter sorted. That was on 16 October 2009.

Yesterday (21/1009), I received two letters - the first from C1 dated 16/10/09 explaining how they reached their £1800 PPI figure. The second was from the Court Service to say that C1 lodged papers (dated 20/10/09) to say that they will be defending the claim. It seems strange that C1 did not bother to answer my previous letter for three weeks but when I serve papers on them, they reply.

I realise that this could be a stalling tactic and C1 may not defend the case. I am very nervous about going to court, I am wondering what should I do.

Have you looked at the information on the forums on consumer action group? http://www.consumeractiongroup.co.uk/ I've used this site in the past to obtain some very good (free) legal advice...

supersaverg

supersaverg wrote: »

Sent Alliance & Leicester template letter from this site on 14/10/09 via recorded delivery.

Recieved a letter from them today offering to refund all PPI paid, just under £2000, inclusive of interest etc.

Great news for 10 mins & just writing a letter.

Now onto Barlcaycard, Egg, HFC, Capital One & Close Car finance.

I would've considered myself to be pretty financially savvy, however, I cant have been. Didnt realise I was being PORKED by all of the above. I never take these insurance options and am not sure how they made it onto my purchases.

Let battle commence. Its time for the lenders to smell crackling!

Recieve letter from EGG today. Offered 780.51 plus 238.47 interest. Total of £1018.98 second success. So far two letters, two repayments.

Not sure if I have been offered enough by EGG, cant check as closed cc account over 1 year ago.

di3004

supersaverg wrote: »

Recieve letter from EGG today. Offered 780.51 plus 238.47 interest. Total of £1018.98 second success. So far two letters, two repayments.

Not sure if I have been offered enough by EGG, cant check as closed cc account over 1 year ago.

Well done and Congratulations.:beer::T:beer:

So I take it they said they do no longer hold your details because they closed the account over a year ago?
I would double check on this, as I assumed they would keep it on data/microfiche for at last 5/6 years, just to be sure.;)
That's if you not asked already X

supersaverg

di3004 wrote: »

Well done and Congratulations.:beer::T:beer:

So I take it they said they do no longer hold your details because they closed the account over a year ago?
I would double check on this, as I assumed they would keep it on data/microfiche for at last 5/6 years, just to be sure.;)
That's if you not asked already X

I havent asked.

Basically sent the letter 4 days ago. Got reply today offering me the funds.

The break down is as simple as I put it. 2 figures. No breakdown at all.

Their last paragraph states that they consider the matter closed and that I have 6 months to take my complaint to the FOS if unsatisfied.

Is it worth asking for all copies of previous statements? Do they chanve their luck ro do you think they are pretty ligit?

CarlB360

I was advised, earlier this year, that a loan I took out with A&L a PPI had possibly been mis-sold to and on investigation they repaid £4,200. With this news and having PPI with EGG Cards I contacted them and whilst initially denying amy reclaim using their internal email system. I wrote direct (using recorded delivery) and within 4 weeks received a refund into my credit card of £2400. Credit to both companies for the speed in which they dealt with the claims I made. A total £6,600.
Used the template letter from your site thankyou ( didn't need to provide all the start dates etc either just explained why I thought it was mis-sold)