PPI Reclaiming successes and failures

maxdp

Well done to you.

di3004

daviduk1976 wrote: »

What were you reclaiming: LOAN
Who was the provider: NORTHERN ROCK
How much did you get back: £1500 inc 8% interest
Did you get it back after a letter or did you go to the Financial Ombudsman: 1 letter and a phone to ask where my 8% was!
I have previously helped my house mate claim back £5000 from EGG so told a few people at work. Did the letter for another friend and she got a reply saying they were dealing with it, eventually offered after 4 weeks (max) and had she called them when they 'forgot' the 8% interest if it went to court!
Changed her loan (she has 3 years left) same APR (around 8%) and her monthly repayments have dropped by £30 a month
She is well chuffed
And so am i!


Thanks Martin and all who have helped not just me but many peeps on here!!:beer:

Great work David, Congratulations !:beer:

drib0704

just received a letter from barclays informing me of a full refund including the interest on payments,but not sure about the 8% payback total returned will be £4980 for policy plus another £900 for early cancellation

Newry123

don't know if this is the right place to ask, can't figure out how to work the site yet, this is first attempt, so sorry if I'm barging into forum....
I went through FOS to reclaim PPI from MBNA and after 26 months I have finally received a letter from MBNA informing me that they calcluated my premiums (around £2300, interest £60.60 and then 8% of that total, coming to around £2800). My query is, the interest seems really low, and they didn't specify how they'd calculated it, so should I accept? They have said that this is a 'goodwill gesture', however the FOS found in my favour, ie. that they had missold me PPI due to preexisiting medical complaint which they didn't ask me about. I'm confused...should I accept this 'goodwill gesture' or query the amount??

amersall

Newry123 wrote: »

don't know if this is the right place to ask, can't figure out how to work the site yet, this is first attempt, so sorry if I'm barging into forum....
I went through FOS to reclaim PPI from MBNA and after 26 months I have finally received a letter from MBNA informing me that they calcluated my premiums (around £2300, interest £60.60 and then 8% of that total, coming to around £2800). My query is, the interest seems really low, and they didn't specify how they'd calculated it, so should I accept? They have said that this is a 'goodwill gesture', however the FOS found in my favour, ie. that they had missold me PPI due to preexisiting medical complaint which they didn't ask me about. I'm confused...should I accept this 'goodwill gesture' or query the amount??

you could ask them about the interest, as they will be able to tell you. then it is up to you if you accept this. congrats on your win !!!

66mrso

Took out a loan with Lombard bank in 1994 and had no choice about taking out PPI. Wrote to RBS (parent company) and have received a letter from them making us an offer of the amount we have paid in premiums and interest. There's no mention of the 8% a court would award - should we contact them and ask for this or would it jeopordise their offer? Any advice on this would be appreciated.

Shamblers

I reclaimed the PPI from an Egg loan and was offered a full refund with interest, a brilliant £3316 in total, in less than a fortnight.

I downloaded the form, filled it in and posted it off. Within a week I received a letter from Egg saying they had passed it on to one of their Customer Relations Advisers for investigation, two days later I had a letter offering me full refund of £2392 plus interest of £924. Anyone reading this go for it, they're not going to give it back unless you ask for it and I couldn't believe how quick and easy it was.

di3004

Shamblers wrote: »

I reclaimed the PPI from an Egg loan and was offered a full refund with interest, a brilliant £3316 in total, in less than a fortnight.

I downloaded the form, filled it in and posted it off. Within a week I received a letter from Egg saying they had passed it on to one of their Customer Relations Advisers for investigation, two days later I had a letter offering me full refund of £2392 plus interest of £924. Anyone reading this go for it, they're not going to give it back unless you ask for it and I couldn't believe how quick and easy it was.

Hi and welcome and Congratulations, Well done! :T:beer::j

di3004

66mrso wrote: »

Took out a loan with Lombard bank in 1994 and had no choice about taking out PPI. Wrote to RBS (parent company) and have received a letter from them making us an offer of the amount we have paid in premiums and interest. There's no mention of the 8% a court would award - should we contact them and ask for this or would it jeopordise their offer? Any advice on this would be appreciated.

Hi there

First of all well done :beer:

As it was an offer, it seems they have not actually upheld and accepted liability of mis selling (which is why they gave you an offer instead).

So in this case the 8% is not always included.

You can just query it by a quick call, but tell them your making your mind up on your decision of accepting it or not (so this should not jeopordise their offer, as its only a general query).
However, its entirely up to you of course.
Good luck.;)

66mrso

Thanks for your advice with this, I'll probably give them a phone with a general enquiry and see what they say. Will keep the forum posted on how we get on.