PPI Reclaiming successes and failures

Dellboy_3

marshallka wrote: »

Dellboy if your repayments were about £465 a month over 84 months (can't see your repayment total above???) and your PPI element was 26.97% (worked this out from figures above) then your total PPI with interest over the period would have only been £10,500 (being 125.00 x 84 months so you are getting a great deal as amerall has said. If you paid this off the loan you should be back in the position (or better than that) as if you never had the PPI. If you keep it and use for other things then your loan will stay the same I assume.

Have they mentioned the 8% statutory interest though???

Ok but the loan repayments inc ppi (single premium added to loan) are £525.73 i calculate the ppi payment to be £138.04 making the payments paid over 60 months £8282.40 .
so does this not mean it should be ppi of £9235.75 off the current loan amount
plus £8282.40 refund for payments made (plus interest) so a total of £17518.15 (plus interest)

amersall

Dellboy wrote: »

Ok but the loan repayments inc ppi (single premium added to loan) are £525.73 i calculate the ppi payment to be £138.04 making the payments paid over 60 months £8282.40 .
so does this not mean it should be ppi of £9235.75 off the current loan amount
plus £8282.40 refund for payments made (plus interest) so a total of £17518.15 (plus interest)

if i were you i would phone egg. make them tell you what it is they have paid you , in more simpler terms, and how much the ppi was each month, not including the loan. they are better able to tell you what you need to know. also on the total of what you have worked out 17518 you dont get interest on that as you have had it with the refund of payments made. if you have the original agreement it should tell you the exact amount the ppi is per month,(without this you dont know what you are paying so this is guess work) times that by 60,that amount with interest is what you should get back, phone egg and then you will be 100%sure. also in a normal redress you would not get back the payments of ppi back that you have not paid yet

busbyh

amersall wrote: »

fully agree busbyh!!! claims companys can do it no quicker than you can do it yourself, you will get a lot of help from this site and all for free. just ask

hi amersall,
one of the posters on the picture thread was being charged 10% (I think) but fortunatley the company they were using went bust , saving them a lotta. lotta money

No need for any third parties at all;) so many jhave proved this. The only one we need is our wonderful :money::D

gcelt1

Can anyone 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. Yesterday I was told that they now no longer give a timescale for the refunds to be made. I am also still paying the ppi on my loan which should have been canceled by now.

Has anyone else had a similar experience? How long do they actually take to sort these things out after they have accepted that they are at fault?

Thanks

di3004

kellylouise001 wrote: »

Well i have heard about PPI reclaiming for the last year or so but it was only September when i decided to do something about it...so off i sent my letters (templates from here)to Halifax - for 2 loans, 1 still ongoing which i took out in 2007 and one which i took out in 2003 which has settled. Also sent off letters to Littlewoods re PPI and also Aqua credit card re PPI.

I am so happy to say that I recieved a letter from Halifax on Thurs saying that they would refund both PPI premiums :j yay! There was no figures and said they would write to me in the next month to confirm amounts to be paid to me. The told me that it would go towards reducing my current loan with them which is still a bonus! Anyway checked my online banking yesterday and was astounded to see that £1,349.50 had been deposited! :beer: I didnt expect to get any cash and thought and the money would be paid off my loan! Bonus! So today i get a letter stating that the £1,349.50 is a refund of the PPI plus interest which i paid on my first loan. Obviously because that loan has settled they are unable to use it to pay off the other loan! Also for the loan i still have which i owed £3,100 on they have reduced it to £2,350 to reflect the PPI being removed and also refunded me £1,000 off the loan which means that now i have £1,349.50 in the bank and a loan which is now just over £1,100! To say I am overjoyed is an understatement!

I would like to say a massive thanks to all you guys on here who are so encouraging and also of course a massive thanks to Martin himself! What a legend! Also i recieved a letter from Aqua today saying that they too are upholding my complaint and i should also recieve payment in a month which is about £800!

If you have not yet started to claim stop holding back, you have nothing to lose but the price of a stamp! AND i did not even have my loan details so as i still bank with Halifax i just gave them by bank account no and sort code and they found the details themselves!

I shall keep you updated on the outcome with Aqua and Littlewoods and as usual keep checking the site for your successes...as for now i'm off shopping

Kelly x x

:T:beer::j:money::A

Wow fantastic, Congratulations.
:j:beer::T:beer:

amersall

Dellboy wrote: »

Ok but the loan repayments inc ppi (single premium added to loan) are £525.73 i calculate the ppi payment to be £138.04 making the payments paid over 60 months £8282.40 .
so does this not mean it should be ppi of £9235.75 off the current loan amount
plus £8282.40 refund for payments made (plus interest) so a total of £17518.15 (plus interest)

have just read this again, the 9235.75 should come off your loan in a normal redress,that is gone you do not get that back to you, the 8282.40 is what you get back with interest so i think marshalka is spot on with just over 10000, but egg are giving you back all the ppi amount which as said before is a better deal, you could ask for the 8% if they have not allready given it

di3004

gcelt1 wrote: »

Can anyone 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. Yesterday I was told that they now no longer give a timescale for the refunds to be made. I am also still paying the ppi on my loan which should have been canceled by now.

Has anyone else had a similar experience? How long do they actually take to sort these things out after they have accepted that they are at fault?

Thanks

Hello there

First of all well done on your success.:beer:

I did read a similar post the other day, that they were told also by Lloyds they have no timescale in paying out.
So wrong isn't it?

I would give them your own timescale now if this was me (my personal opinion), like, if you do not receive your refund by the end of this month, then contact the Financial ombudsman service (FOS), you could write to lloyds to let them know this if you want to.

I hope you receive your money very soon, wishing you luck.;)

Makela2009

Hi,
I have successfully claimed PPI from Natwest on a load taken out in December 2002, and it was sooo easy!
Is it worth me trying to claim from them on loans taken before that? Does anyone have experience of Natwest/RBS paying out on loans taken before 2002?
Thanks in advance for all your help!

debts now down to £4000 - woo-hoooo

amersall

Makela2009 wrote: »

Hi,
I have successfully claimed PPI from Natwest on a load taken out in December 2002, and it was sooo easy!
Is it worth me trying to claim from them on loans taken before that? Does anyone have experience of Natwest/RBS paying out on loans taken before 2002?
Thanks in advance for all your help!

debts now down to £4000 - woo-hoooo

well done to you, congrats. there is a chance you could do this, i won with yorkshire bank from 14 years ago, and some one else on here won a credit card from 22 years ago and a loan from 14 years ago. so give it a go you have nothing to lose!

di3004

Makela2009 wrote: »

Hi,
I have successfully claimed PPI from Natwest on a load taken out in December 2002, and it was sooo easy!
Is it worth me trying to claim from them on loans taken before that? Does anyone have experience of Natwest/RBS paying out on loans taken before 2002?
Thanks in advance for all your help!

debts now down to £4000 - woo-hoooo

Fantastic, well done.:j:j:beer::T:T.

I bet it feels like a great weight being lifted.....:T brilliant.

I'm sure others who have experience with Natwest/RBS will post up soon.;)