PPI Reclaiming successes and failures

robbedofmymoney

bumpy167 wrote: »

Hi - I have today recieved a letter from Lloyds regarding the repayment of my PPI following the FOS ruling in my favour - YIPPEE!!!!! - it took 2 letters to lloyds, a refused "gesture of goodwill" and a letter to the FOS - 12 months in total.

However, the letter is confusing and I wondered whether anyone here would look at the following text and let me know if it seems correct? For some reason, I seem to be experiencing trust issues with this particular bank!!!

The original PPI amount was £4086.38 and my monthly repayments on the full loan and PPI have been £346. The term of the loan was 84 months and I have paid 62 months.

Your refund has been calculated in two seperate transactions as per the FOS remedy, each of which I have detailed below:

• £4086.38 has been paid directly to your loan account to represent a full refund of your insurance premiums and cancellation of your insurance policy, this represents a full 84 monthly insurance premiums without interest. This payment will enable our Personal Loan Service Centre to completely remove the insurance from your loan account.

This has reduced the monthly repayment of your loan to £290.17, this is the exact monthly repayment sum had the LPI policy not been purchased. We have arranged that all 62 monthly premiums you have made to date to be placed into your bank account, these amount to £3675.84 and will be in your account within 21 days.

• In addition to this you will receive an 8% simple interest payment on the monthly instalments you have made for insurance of £764.58. You will see this as one payment of £764.58 to your bank account.

I am very happy indeed to be getting such a significant refund, I just want to be sure it is correct.

Thanks in advance to anyone that can help me

great news on getting your money back, a great example of why you should reject puny offerings from banks,

go for everything they owe you.

A reminder to everyone that the FOS uphold 9 out of 10 claims in the consulers favour so the banks are wrong and you are right

:beer::beer::beer::beer:

robbedofmymoney

A BIG WELL DONE to all the people who got their money back this week,

everyone else who is still going through the process, KEEP WITH IT, you will get your money back in the end if you have been miss-sold.

the FOS are upholding 9 out of 10 claims in your favour which means the banks are not investigating and treating your claims seriously in 9 out of 10 cases.

keep going :j:j:j:j

nooruddin1504

Report your story in the following format:

• What were you reclaiming: Loan
• Who was the provider:Barclaycard
• How much did you get back: 2,108.17
• Did you get it back after a letter or did you go to the Financial Ombudsman: Financial Ombudsman

On june 2009 I learnt about this site and how I could claim back some of the money that was taken from me.

I wrote 3 letter using the TEMPLATES provided

After writing the third letter I received a reply in September 9th from Barclaycard stating that the PPI was NOT missold. However I can take it further by contacting the Ombudsman service.

After 3 months I decided to write to the Ombudsman service and wrote a letter on the 18th December providing all the replies I received from barclaycard. I went on holiday to Bangladesh on the 21st December and forgot about it.

I came back on the 19th February and to my surprise Barclaycard have actually decided to pay up. Still claiming PPI was not missold.

So everyone out there if you believe PPI was missold or you are not sure just use the template letters. It will only cost you 3 stamps and 30 min of your time.

*One problem - I had a good offer from Barclaycard were I did balance transfer 6.9% for life. They managed to delay my payment and make me miss a payment and now I am back to the normal rate

Anyway good luck to all

Thanks Martin

di3004

nooruddin1504 wrote: »

Report your story in the following format:

• What were you reclaiming: Loan
• Who was the provider:Barclaycard
• How much did you get back: 2,108.17
• Did you get it back after a letter or did you go to the Financial Ombudsman: Financial Ombudsman

On june 2009 I learnt about this site and how I could claim back some of the money that was taken from me.

I wrote 3 letter using the TEMPLATES provided

After writing the third letter I received a reply in September 9th from Barclaycard stating that the PPI was NOT missold. However I can take it further by contacting the Ombudsman service.

After 3 months I decided to write to the Ombudsman service and wrote a letter on the 18th December providing all the replies I received from barclaycard. I went on holiday to Bangladesh on the 21st December and forgot about it.

I came back on the 19th February and to my surprise Barclaycard have actually decided to pay up. Still claiming PPI was not missold.

So everyone out there if you believe PPI was missold or you are not sure just use the template letters. It will only cost you 3 stamps and 30 min of your time.

*One problem - I had a good offer from Barclaycard were I did balance transfer 6.9% for life. They managed to delay my payment and make me miss a payment and now I am back to the normal rate

Anyway good luck to all

Thanks Martin

Hi and welcome

This is fantastic, what a lovely surprise for you to come home to.

Congratulations and well done. :beer::T:beer:

robbedofmymoney

nooruddin1504 wrote: »

Report your story in the following format:

• What were you reclaiming: Loan
• Who was the provider:Barclaycard
• How much did you get back: 2,108.17
• Did you get it back after a letter or did you go to the Financial Ombudsman: Financial Ombudsman

On june 2009 I learnt about this site and how I could claim back some of the money that was taken from me.

I wrote 3 letter using the TEMPLATES provided

After writing the third letter I received a reply in September 9th from Barclaycard stating that the PPI was NOT missold. However I can take it further by contacting the Ombudsman service.

After 3 months I decided to write to the Ombudsman service and wrote a letter on the 18th December providing all the replies I received from barclaycard. I went on holiday to Bangladesh on the 21st December and forgot about it.

I came back on the 19th February and to my surprise Barclaycard have actually decided to pay up. Still claiming PPI was not missold.

So everyone out there if you believe PPI was missold or you are not sure just use the template letters. It will only cost you 3 stamps and 30 min of your time.

*One problem - I had a good offer from Barclaycard were I did balance transfer 6.9% for life. They managed to delay my payment and make me miss a payment and now I am back to the normal rate

Anyway good luck to all

Thanks Martin

great news, it'll pay for another trip,

well done on getting your money back

:beer:

dec22

bumpy167 wrote: »

Hi - I have today recieved a letter from Lloyds regarding the repayment of my PPI following the FOS ruling in my favour - YIPPEE!!!!! - it took 2 letters to lloyds, a refused "gesture of goodwill" and a letter to the FOS - 12 months in total.

However, the letter is confusing and I wondered whether anyone here would look at the following text and let me know if it seems correct? For some reason, I seem to be experiencing trust issues with this particular bank!!!

The original PPI amount was £4086.38 and my monthly repayments on the full loan and PPI have been £346. The term of the loan was 84 months and I have paid 62 months.

Your refund has been calculated in two seperate transactions as per the FOS remedy, each of which I have detailed below:

• £4086.38 has been paid directly to your loan account to represent a full refund of your insurance premiums and cancellation of your insurance policy, this represents a full 84 monthly insurance premiums without interest. This payment will enable our Personal Loan Service Centre to completely remove the insurance from your loan account.

This has reduced the monthly repayment of your loan to £290.17, this is the exact monthly repayment sum had the LPI policy not been purchased. We have arranged that all 62 monthly premiums you have made to date to be placed into your bank account, these amount to £3675.84 and will be in your account within 21 days.

• In addition to this you will receive an 8% simple interest payment on the monthly instalments you have made for insurance of £764.58. You will see this as one payment of £764.58 to your bank account.

I am very happy indeed to be getting such a significant refund, I just want to be sure it is correct.

Thanks in advance to anyone that can help me

Well done!

I am not an expert on PPI calcs but the principle they have applied looks correct. They are crediting your loan account with the full PPI which should then trigger an interest adjustment to your loan account putting you back into the position as if PPI hadn't been paid.

They are then refunding your payments made towards PPI and the interest applied of c£56pm x 62 payments, In addition they are giving you 8% statutory interest that would be awarded in court.

di3004

Still not received the updated letter in regards of the loans ppi via LLoyds, first of all they stated they send out new offers on 18 Feb, and re-issued on Thurs just gone as well........stalling tactics again I expect.

And hubby is supposed to be receiving his ppi credit card refund by the end of next week, we shall soon see. (again Lloyds);)

fedrightupgirly

Barclaycard just rang me and advised that they have found my 6 acceptance letters and that by 5pm today my Barclaycards will both be cleared in full (16k owing in total) and my bank account will be credited with £
8500! Cant believe i have paid that much in PPI, soooo pleased its all been sorted but not jumping around until i see that its in there!

robbedofmymoney

fedrightupgirly wrote: »

Barclaycard just rang me and advised that they have found my 6 acceptance letters and that by 5pm today my Barclaycards will both be cleared in full (16k owing in total) and my bank account will be credited with £
8500! Cant believe i have paid that much in PPI, soooo pleased its all been sorted but not jumping around until i see that its in there!

fantastic news, a lot of money back where it beloings, in your account

:beer::beer::beer:

out of interest, how long did the process take,

di3004

fedrightupgirly wrote: »

Barclaycard just rang me and advised that they have found my 6 acceptance letters and that by 5pm today my Barclaycards will both be cleared in full (16k owing in total) and my bank account will be credited with £
8500! Cant believe i have paid that much in PPI, soooo pleased its all been sorted but not jumping around until i see that its in there!

WOW, this is absolutely fantastic news :T:j:j:j
Well done:T:T
and Many Congratulations.:beer:

I bet your pinching yourself making sure its all real lol:D;), well done hun, this is brilliant.:beer: