PPI Reclaiming successes and failures

di3004

gcelt1 wrote: »

Thank you so much. You're a star.

Your welcome.;)


For more on reclaiming with guidelines, check this link here and just post up if help is required anytime.:beer:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Dellboy_3

marshallka wrote: »

If its still running then you would not get the full amount of PPI back anyway cause you have not yet been out of pocket by that full amount if you see what I mean. You would get back what you have actually been out of pocket by with 8% statutory interest on each repayment and then they would redo the loan without the PPI and reduce your loan/repayments accordingly.

Hope this helps.

so you reckon its correct ?

amersall

Dellboy wrote: »

so you reckon its correct ?

hi there, yes marshalka is correct, you only get the ppi plus interest back on the ppi you have paid, you dont get it back for what is not yet paid (sorry for butting in marshalka)

amersall

gcelt1 wrote: »

Thank you so much. You're a star.

yes, our di is a star:A, a little jack flash star:p am sure she was in bethlehem(the brightest star) and has been reincarnated:rotfl::rotfl:

rachie29

WOOOO! i've got two success stories! £840 reclaimed by myself from HSBC, took a very short time to go through perhaps about 2 months and the money was in my account within 2 days of receiving my acceptance letter. Then today, my boyfriend who banks with NatWest, has just received a letter also after 2 months, offering him £1900!!! Both PPI claims were from loans that we had around 4 years ago and both included interest added on. Neither us had to quibble with the banks, everything was dealt with smoothly even mine when I had used the wrong account number for the loan! Very pleased. Thank you money saving expert!!!

di3004

amersall wrote: »

yes, our di is a star:A, a little jack flash star:p am sure she was in bethlehem(the brightest star) and has been reincarnated:rotfl::rotfl:

lmao :rotfl::rotfl::rotfl:, this made me laugh our loud :rotfl::rotfl:, how are you Jack Flash 2?:rotfl::D, bless ya.:AXXX

di3004

rachie29 wrote: »

WOOOO! i've got two success stories! £840 reclaimed by myself from HSBC, took a very short time to go through perhaps about 2 months and the money was in my account within 2 days of receiving my acceptance letter. Then today, my boyfriend who banks with NatWest, has just received a letter also after 2 months, offering him £1900!!! Both PPI claims were from loans that we had around 4 years ago and both included interest added on. Neither us had to quibble with the banks, everything was dealt with smoothly even mine when I had used the wrong account number for the loan! Very pleased. Thank you money saving expert!!!

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

marshallka

rachie29 wrote: »

WOOOO! i've got two success stories! £840 reclaimed by myself from HSBC, took a very short time to go through perhaps about 2 months and the money was in my account within 2 days of receiving my acceptance letter. Then today, my boyfriend who banks with NatWest, has just received a letter also after 2 months, offering him £1900!!! Both PPI claims were from loans that we had around 4 years ago and both included interest added on. Neither us had to quibble with the banks, everything was dealt with smoothly even mine when I had used the wrong account number for the loan! Very pleased. Thank you money saving expert!!!

Well done to you both:T

marshallka

amersall wrote: »

hi there, yes marshalka is correct, you only get the ppi plus interest back on the ppi you have paid, you dont get it back for what is not yet paid (sorry for butting in marshalka)

You butt in as much as you like amersall. Its nice to have someone agree.;)

marshallka

Dellboy wrote: »

Hi all
recieved a letter from Egg today saying they have agreed a refund on PPI :j
The amounts are as follows

PPI premium on loan £ 9235.75
Less any PPI refund taken off loan £ 543.28
Refund of interest charged on PPI at contractual loan rate £ 3299.48
Total refund due £11991.95

Now is this correct given the details below



annual percentage rate (APR) 6.9% (as per agreement)
annual interest rate 6.73% fixed (as per agreement)
original term of loan 84 months (this is the term of your loan starting from the date the agreement was made through to the last payment date as provided in the agreement - any changes will have been notified to you)
date of initial advance 05 July 2004
amount of credit £25,000.00 cash loan
£9,235.75 repayment protection

i would have thought it should be

PPI pemium on loan £9235.75
Refund of payments made on PPI portion of loan
£134.00 a month for 60 months) £8040
plus any additional interest

this would mean £17275.75 plus any interest .

I know this might sound greedy but that £6000 would make a hell of a difference .

If my workings are correct shall i just write and tell them as when i phoned for clarification i was told that i just didnt get it .:mad:

Also is it ok to accept the payment and continue to argue as there letter says the complaint is now closed ...

Dellboy, are these the original figures from the agreement as i am a little confused by these if the loan is still running.

Also have they written a new agreement to reflect the loan without the PPI etc??

Usually they would work out how much you paid against the PPI and interest to date and refund in a cheque to you (and 8% statutory interest on each payment from the date made to todays date). Then they would take the remaining PPI off the settlement of the loan to date and do a new agreement to reflect this with lower repayments but the same term and APR???