PPI Reclaiming successes and failures

amersall

shinealot wrote: »

Ye haa got confirmation from First Plus that they are refunding me the PPI on my loan + interest and re setting the loan. Must thank all on this site as I had read through a few PPI forums and decided to write to them to get it back.

I had another loan before this one with FirstPlus and after about 3 years I needed to get another loan (NEVER AGAIN) and took out a TOPUP loan with FP (this is the the loan I just got back the PPI on). I just wondered if I could claim back the PPI on the loan before the TOPUP loan!
Many thanks again.

yes go for the first loan ppi as well put your complaint in just as you have done , if you get stuck take a look at this website firstpluscomplaints.co.uk you will have your eyes well and truly opened

martinsmum

got a letter from RBS 3 weeks ago to say they had upheld my complaint and are going to repay ppi plus interest and the money would be in our account within 10 days!!! still waiting and still paying full loan amount including ppi. very happy with the result but i think i will have to wait a long time for a refund. h x :beer::beer::money:

di3004

martinsmum wrote: »

got a letter from RBS 3 weeks ago to say they had upheld my complaint and are going to repay ppi plus interest and the money would be in our account within 10 days!!! still waiting and still paying full loan amount including ppi. very happy with the result but i think i will have to wait a long time for a refund. h x :beer::beer::money:

Wonderful! :T:j Congratulations and well done! :beer:

deeb604

I've had a letter from welcome today with a questionnaire to fill in, completed it and going to post it registered delivery after i've copied it tomorrow!!! More hurdles to climb!!! Heres hoping they pay out now!!! I had a ten year secure loan with a 5 year ppi loaded upfront payable over ten years, despite being valid for only five and am nhs worker, was made to take ppi so i could have the loan, settled the loan and ppi ten months after taking it out, settlement included ppi, so heres hoping they can't really argue!!!!

di3004

deeb604 wrote: »

I've had a letter from welcome today with a questionnaire to fill in, completed it and going to post it registered delivery after i've copied it tomorrow!!! More hurdles to climb!!! Heres hoping they pay out now!!! I had a ten year secure loan with a 5 year ppi loaded upfront payable over ten years, despite being valid for only five and am nhs worker, was made to take ppi so i could have the loan, settled the loan and ppi ten months after taking it out, settlement included ppi, so heres hoping they can't really argue!!!!

Hi there

Wishing you luck with this, in my opinion you have a great case here, good luck and hope you hear of a good result very soon.;)

lennygambo

Had a letter yesterday off HSBC, saying they will be looking into this complaint and reply within 4-8 weeks am sure it said

Thank you so much again Di

di3004

lennygambo wrote: »

Had a letter yesterday off HSBC, saying they will be looking into this complaint and reply within 4-8 weeks am sure it said

Thank you so much again Di

Hi there

Thanks for your update and your very welcome, good luck.:);)

tiggybob

I have just reclaimed the PPI mis-sold to me by CitiFinancial, on a loan I took out in 2006. They have repaid the total premium of £1316, but have only repaid interest of £375. The total charge for interest on the PPI was £1484. Is this all I can expect back? I seem to have paid interest on a product I never used and never needed. As I am still paying this loan, will my contractual payment be reduced as a result of claiming this back? Will the balance of the loan be reduced by the remaining interest they have not refunded to me?
Iwould welcome any advice.

di3004

tiggybob wrote: »

I have just reclaimed the PPI mis-sold to me by CitiFinancial, on a loan I took out in 2006. They have repaid the total premium of £1316, but have only repaid interest of £375. The total charge for interest on the PPI was £1484. Is this all I can expect back? I seem to have paid interest on a product I never used and never needed. As I am still paying this loan, will my contractual payment be reduced as a result of claiming this back? Will the balance of the loan be reduced by the remaining interest they have not refunded to me?
Iwould welcome any advice.

Hi there

I am useless at working out what is what when it comes to interest and normally ask for help on mine, however there are a few on here that I sure would love to help and have a look for you.

You would have to post up all details of the calculations on the loan account, the year taken out, if and when settled and so on.;)

Or maybe start a fresh thread below so its not missed, and in the subject line write "help with calculations please".

Good luck with this and well done.:beer:

amersall

tiggybob wrote: »

I have just reclaimed the PPI mis-sold to me by CitiFinancial, on a loan I took out in 2006. They have repaid the total premium of £1316, but have only repaid interest of £375. The total charge for interest on the PPI was £1484. Is this all I can expect back? I seem to have paid interest on a product I never used and never needed. As I am still paying this loan, will my contractual payment be reduced as a result of claiming this back? Will the balance of the loan be reduced by the remaining interest they have not refunded to me?
Iwould welcome any advice.

hi there, you only get ppi back that you have paid to date, this includes the interest then you get 8%, the ppi total is taken off your loan and reset as ppi not on, your payment then reduces by the amount you paid each month, as the loan is still running you do not get ppi back that you have not yet paid, hope this helps