PPI Reclaiming successes and failures

toolittletoolate

tomcody wrote: »

Hi all

This is my first post although have been browsing for a number of months!!!

Have recently tried to reclaim PPI from Nationwide credit card as I didn't know until recently that I had been paying for it (can't remember accepting to take it out).

Have received reply I applied back in July 03 for the card on the internet and they stated that their PPI has always been optional and therefore have not been misold the PPI and they sent me a copy of agreement which showed the PPI ticked so i guess this is as far as I can go with this.

I really would carry on with the claim as we also took out a loan & credit card online & this box was already ticked! they are just trying to fob you off

tomcody

Thanks for that will continue the battle with Nationwide and start a new one with Egg credit card!!!

Congrats to all hearing good news!!

marshallka

stellaboy wrote: »

would you get more money back if you paid the loan off early or if it went the full term

If the loan is paid off early or went to full term then whatever you have been charged for PPI being the interest and PPI would be refunded. When a loan is paid early you have a rebate usually against the PPI and also an amount rebated which would be the interest due on the PPI too. This is a little hard to work out as its not broken down in the settlement figure. (The rebate of the PPI is usually shown but remember this is only the PPI and not the interest and PPI). How they work this out is look at what your loan would have looked like if you not had the PPI and then pay over the difference and also the actual parts of the repayments that were because of the PPI. (and statutory interest too)

If your loan went to full term then this is easier, you would get back all the PPI and interest charged on the PPI and 8% statutory interest too.

Even when the loan is still running you actually get back into the position as if you never had the PPI but they cannot pay it all to you as a cheque as you have not actually been out of pocket by the full amounts yet. They pay over to you by cheque what you have paid to date against the PPI and then take the remainder off the loan and do a new loan (same terms and rate) without the PPI so your new loan will reflect this.

marshallka

toolittletoolate wrote: »

i sent a template letter from this site to egg creditcard, egg loan, natwest, paragon & A&L, within a week egg had wrote a letter to say they have recieved my complaint & they will be looking into it, today i recieved another letter from egg saying we are due £128.00 from the credit card which they also added intrest too, Yipee!!!!! i know its not much but we didnt have this card very long & the balance wasnt much, so really pleased, hoping now to hear from the rest, as i havent had any letters from them yet, as these should be BIG money fingers crossed!!! Thanks you everyone for all the info on here this site is FANTASTIC!!!!!!!

Well done to you:beer: and good luck with the others.

gcelt1

Hi There

This is my first post on this wonderful site. I was just wondering if anyone could share their experience of a successful ppi reclaim from Lloyds TSB. I recieved an offer from Lloyds of a full ppi refund plus 8% simple interest year on year. They accepted that they were at fault in selling the policy. I gladly accepted the offer over 2 months ago, and I am still waiting on my refund, which they said would take them no more than 21 days to make. On each occasion that I've phoned them, I keep getting different information about my case. Today I was told that they now no longer give a timescale for the refunds to be made.

I really only have 2 questions:

gcelt1

gcelt1 wrote: »

Hi There

This is my first post on this wonderful site. I was just wondering if anyone could share their experience of a successful ppi reclaim from Lloyds TSB. I recieved an offer from Lloyds of a full ppi refund plus 8% simple interest year on year. They accepted that they were at fault in selling the policy. I gladly accepted the offer over 2 months ago, and I am still waiting on my refund, which they said would take them no more than 21 days to make. On each occasion that I've phoned them, I keep getting different information about my case. Today I was told that they now no longer give a timescale for the refunds to be made.

I really only have 2 questions:

Sorry; hit the wrong button.

Does anyone have a similar experience with Lloyds?

and

Can I get the FOS to chase this up?

Thanks

di3004

toolittletoolate wrote: »

i sent a template letter from this site to egg creditcard, egg loan, natwest, paragon & A&L, within a week egg had wrote a letter to say they have recieved my complaint & they will be looking into it, today i recieved another letter from egg saying we are due £128.00 from the credit card which they also added intrest too, Yipee!!!!! i know its not much but we didnt have this card very long & the balance wasnt much, so really pleased, hoping now to hear from the rest, as i havent had any letters from them yet, as these should be BIG money fingers crossed!!! Thanks you everyone for all the info on here this site is FANTASTIC!!!!!!!

Brilliant, Congratulations:beer:
And well done.:T:T

di3004

gcelt1 wrote: »

Sorry; hit the wrong button.

Does anyone have a similar experience with Lloyds?

and

Can I get the FOS to chase this up?

Thanks

Hello there and well done on your offer.:beer:

I assume if they admitted liability on mis selling they will be refunding all you have paid in ppi etc.

Loads on here have been through mis selling by Lloyds TSB, I am one of them, and was successful, but with taking mine to the FOS, this was in regards of a credit card ppi, the loan ppi are ongoing.

I'm sure many will share their own experiences with you.

Normally it used to be something like 28 days after accepting an offer, but as they have stated to you they have no timescale, and have already been waiting far more than a month or 28 days, ring the FOS and ask what they would suggest for you on this, good luck.;)

amersall

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j well done to ,mitch-gordon:jhobbes71:jdellboy:jchuffedy:jwhoopsticker:jtoolittletoolate:jand gcelti:j:jab fab:money:congrats to all:beer::beer:

amersall

:j:j:jgreat news showergirl:j:jglad nassie won:j:jgood for you:A now thats a friend:A:A