PPI Reclaiming discussion Part II

di3004

Anne.Jade wrote: »

Hiya Marshallka

When FP offered me an enhanced rebate (even though I was going for misselling) this is what they said:-

"In order to resolve your complaint, we are willing to offer an enhanced rebate of the insurance policy. The enhanced rebate that we are prepared to offer you is calculated on a pro-rata basis of 78% of the insurance premium, (22% being held back for the provision of claims and administration costs)."

No offer of interest paid or statutory interest on top. So they may offer you the same, which is crap really ain't it!!

Hi there Anne
Sorry for butting in here, but did you take them up on this offer hun ?

May I also ask to save me going back on posts lol, was this done on your own or through the FOS ?
Thanks hunni.:D

marshallka

maxdp wrote: »

Hi Marshallka.

Nowadays probably they could. I wonder what the FOS would think about selling this junk to people who are very unwell. Would you sell Life Insurance to somebody who had just had heart attack or was having chemo. No so why sell health insurance to somebody suffering with depression or Bi Polar etc etc . Especially as somebody with say Manic Depression can sometimes spend spend spend.

I believe that is something that needs to be explored.:D

Maxdp you are so right here. Something needs to be done to help David here.

marshallka

Anne.Jade wrote: »

Hiya Marshallka

When FP offered me an enhanced rebate (even though I was going for misselling) this is what they said:-

"In order to resolve your complaint, we are willing to offer an enhanced rebate of the insurance policy. The enhanced rebate that we are prepared to offer you is calculated on a pro-rata basis of 78% of the insurance premium, (22% being held back for the provision of claims and administration costs)."

No offer of interest paid or statutory interest on top. So they may offer you the same, which is crap really ain't it!!

So what would the 78% be calculated on then... Would it be the original PPI without the interest. My PPI with interest that they charged was near on £9K and then they rebated £94 against it when I settled??

Tiggrae told me that is how these rebates are calculated..They do not take the interest into account or the statutory either do they.

Anne.Jade

di3004 wrote: »

Hi there Anne
Sorry for butting in here, but did you take them up on this offer hun ?

May I also ask to save me going back on posts lol, was this done on your own or through the FOS ?
Thanks hunni.:D

Hi Di

No I didn't accept it, it was through me writing to them on my own but then I decided to carry on and go for the misselling with the FOS

di3004

maxdp wrote: »

Hi Di

Just been to a funeral and old boss of mine, worked for him 13 years was quite torn cause he was a right bar steward. Think Gordon Ramsey in the office. Shouting screaming etc. In others ways he was very good to me e.g. promotion, flowers etc. So went along with mixed feelings really.

I had one funny moment:eek: as we went to sit down in the Crem the Order of Service leaflets were on the seats with his photo on the front so I sat on it:D

I am glad I went but was a strange day though his wife is lovely.:rolleyes:

Aww hun, sorry to hear of this..... bet he will be sadly missed though.

Oh dear, fancy sitting on the bosses face........:o :rotfl: , lol, sorry I know I should not really laugh but we have to see the funny side of this too....:o .

di3004

Anne.Jade wrote: »

Hi Di

No I didn't accept it, it was through me writing to them on my own but then I decided to carry on and go for the misselling with the FOS

And good for you hun, and you have done the right thing.;)

Hope you did not mind me asking hunni ?:o thanks anyway, glad your pushing on it.:D

marshallka

How I thought they worked was that the rebate was whatever your total PPI was less what you paid in repayments against it less the rebate and then you calculate 78% of that figure which is about £5218.00 in my case and then statutory interest on top... It seems M colak was right and so am I in my letter to them then. This is probably what I looking for back if you take off the 22%

8968.00 - 2185.95 = 6782.05 - the rebate i got of £91.64 = £6690.41(THIS IS THE AMOUNT THAT I WAS UNFAIR REBATED ON) so I was actually charged this entire amount when settling the loan early and it was very unfair. I would like this amount refunded and all the statutory interest too.

Anne.Jade

marshallka wrote: »

So what would the 78% be calculated on then... Would it be the original PPI without the interest. My PPI with interest that they charged was near on £9K and then they rebated £94 against it when I settled??

Tiggrae told me that is how these rebates are calculated..They do not take the interest into account or the statutory either do they.

The FOS may do it differently though, I'll have a look at what my original insurance premiums were when I get home from work.

Catch ya later
x

di3004

Anne.Jade wrote: »

The FOS may do it differently though, I'll have a look at what my original insurance premiums were when I get home from work.

Catch ya later
x

Catch you later then hun, did not realise you were still at work lol.....:D

Have a safe journey home then hunni.;) xx

marshallka

marshallka wrote: »

How I thought they worked was that the rebate was whatever your total PPI was less what you paid in repayments against it less the rebate and then you calculate 78% of that figure which is about £5218.00 in my case and then statutory interest on top... It seems M colak was right and so am I in my letter to them then. This is probably what I looking for back if you take off the 22%

8968.00 - 2185.95 = 6782.05 - the rebate i got of £91.64 = £6690.41(THIS IS THE AMOUNT THAT I WAS UNFAIR REBATED ON) so I was actually charged this entire amount when settling the loan early and it was very unfair. I would like this amount refunded and all the statutory interest too.

£5218 plus stat interest. I think I understand it now...