PPI Reclaiming discussion Part II

Anne.Jade

maxdp wrote: »

Just had letter from FOS saying my complaint against MBNA now gone to adjudicator. On the letter is says

In the meantime, it would be very helpful if you could let us know of any recent changes in your personal circumstances that you may not have told us about already - for example.

You are now experiencing exceptional financial hardship because of circumstances connected to your complaint.

You are suffering serious ill-health which makes if extremely important to you that this complaint is resolved quickly.

Legal action is being threatened in relation to this case or

You have had an offer from MBNA since we last wrote and you have accepted this offer to settle your complaint, ( or are considering accepting it).


This has obviously been added since my last letter from them. Although fast tracking does not seem to work in some cases I have seen on here.

Hi MaxDP

I had that letter from the FOS the other day except mine doesn't say it's gone to an adjudictor yet but the rest is exactly the same

di3004

marshallka wrote: »

Is this recent then since he was off work and the loan still going when he became ill but settled then....

No sorry Di, just reread again... This was a few years ago...


Why did they say he could not claim... was it an ongoing complaint that he had before...

Yes works accident in 2000, been on medication for it ever since.

marshallka

Looking at all the jargon I have just added my refund is not classed as unfair as I was 39 months into the policy and I don;t think they look into the interest bit of it and also it was a refund as such......

This as on the FSA website but note it says

We don’t deal with complaints about contracts concerning personal loans, hire purchase, credit cards or other credit products. The Office of Fair Trading (OFT) deals with these. You can contact them through Consumer Direct – see Related links.





Also all the unfair contract terms are apparently to do with "NIL refunds" anyway....



What refund will I get if I cancel my PPI contract outside the statutory cancellation period?

There is not a 'one-size fits all' rule for calculating refunds, due to the many different types of firms and commercial practices in the PPI industry.
We take the view that refunds should be based on firms' reasonably incurred costs. These costs might include administrative fees, a proportion of commission and the fact that the risk at the beginning of the policy is higher than at the end of the policy, so more premium is used early on. This means that the refund you get may not be in proportion to the remaining policy length.
Firms should soon be including examples or a table to show how refunds will be calculated in new policies. This will help to improve the transparency of refunds.

marshallka

I wish tiggrae would make an appearance here as it was tiggrae who told us all to make these unfair rebate claims and we don't know much about what we are claiming for here....

I know I was treated unfairly but how do we prove it....is interest taken into consideration on the unfair refunds too... it does not look like it according to the FSA site...

maxdp

Anne.Jade wrote: »

Hi MaxDP

I had that letter from the FOS the other day except mine doesn't say it's gone to an adjudictor yet but the rest is exactly the same

Hi AnneJade yes this seems to be fairly recent. Have had the usual monthly ones and this has not been mentioned.

marshallka

Anne.Jade wrote: »

Hi MaxDP

I had that letter from the FOS the other day except mine doesn't say it's gone to an adjudictor yet but the rest is exactly the same

Hiya AnneJade, Have you seen what i was told today from the FOS about claims for unfair rebates and this applies to all claims....

Was yours for misselling or unfair rebate???

marshallka

di3004 wrote: »

Yes works accident in 2000, been on medication for it ever since.

Most insurance policies will not pay out for back injuries if you have received treatment in the past. I was telling you the other day about my hubbies arthritis and what is ommitted on our policies. We sort of knew this though as we told them the things he had received treatment for and it is the same with most... you then have to decide whether to take the policy or not... we still took it (only a single stand alone Income protection policy) cause if anything happened then what would do...

di3004

marshallka wrote: »

I wish tiggrae would make an appearance here as it was tiggrae who told us all to make these unfair rebate claims and we don't know much about what we are claiming for here....

I know I was treated unfairly but how do we prove it....is interest taken into consideration on the unfair refunds too... it does not look like it according to the FSA site...

I hope Tiggrae does come along at some point hun, not on hols is she by any chance ?

You defo should have yours back and yours was very unfair, you hardly had a penny back with yours and I think its disgusting !

But yes if Tiggrae came along maybe she could clarify on this.;)

I am still here but just getting all this paperwork in order for my sister, its everywhere lol, the one I have here in front of me know was a lloyds loan with ppi, joint loan:

Loan £10K
monthly repayment £154.23

PPI £2,241
Monthly repayment: £154.23

Total loan
£12,241.37
Monthly total repayment (comes out together) as £188.80

Price of loan protection: £2,241.37
Interest on loan protection: £662.42
Total price of PPI: £2,903.79

Regenerated cross in loan protection.

22 Dec 2004
loan: £10,000
insurance £2,241.37 in account total of £12,241.37


84 months loan

10 repayments made of £188.80

interest ranged from £73 to £79 a month

Final payment made was £9,676.45 and other £1,658.23

Interest charged = £65.40
Early settlement fee = £140.14

Interest, charges, withdrawals, loan repayments: = £13,222.68

This is how it is on the statement, it was settled in full Nov 2004.

di3004

marshallka wrote: »

Most insurance policies will not pay out for back injuries if you have received treatment in the past. I was telling you the other day about my hubbies arthritis and what is ommitted on our policies. We sort of knew this though as we told them the things he had received treatment for and it is the same with most... you then have to decide whether to take the policy or not... we still took it (only a single stand alone Income protection policy) cause if anything happened then what would do...

Of course it was not known about these issues in the media at that time in 2004/05 and did not know there would be complaints for this then, when I had enquired about this she said said no it will not cover him for this, this was when hubby was actually off for 66 days. I did not think to question this then due to the fact of not knowing it was mis sold then, and did then think it was part of the loan agreement, due to not being told otherwise.

maxdp

di3004 wrote: »

Of course it was not known about these issues in the media at that time in 2004/05 and did not know there would be complaints for this then, when I had enquired about this she said said no it will not cover him for this, this was when hubby was actually off for 66 days. I did not think to question this then due to the fact of not knowing it was mis sold then, and did then think it was part of the loan agreement, due to not being told otherwise.

Hi Di

How your son now have you heard back from LEA? Hope things get sorted is he back at school.

You lucky to have your sister coming down and being an accountant she should sort your paperwork out:rotfl: