PPI Reclaiming discussion Part II

tiggrae

asmaarfan wrote: »

:mad: Hi there, after reading on the mse forums i can tell you all seem to know alot about reclaiming i have a few questions and hope some one will be able to help me.

i had a personal loan with natwest taken out on 01 april 2003 and closed september 2005.

below are the figures natwest sent me
Original sum borrowed: £10,0000
Personal loan protector £2458.00
charge for credit:£3238.00
monthly payment:£261.61
Term 60 months
total amount payable:£15,696.00
interest rate: 9.49%

Now i worked out that Natwest owed me :
£2458.00 ppi premium
£583.16 interest at 9.49%
total:£3041.16
PLUS 8% statuary court interest: £588.00
Giving me a total of £4212.32
After following numerous letters and templates they have written back to me and have paid into my account a payment of £2,360.89 which they have broken down as
£1873.72 premiums paid since inception of policy
£487.17 interest refund
then have a week later paid in a further £487.17 stating this is in settlement of the interest paid on my premium: Which means they have in TOTAL REFUNDED me £2848.06

Now my main question is were my figures incorrect? Or are they only paying me a partial refund?
because the difference between my reclaiming amount and the total refunded is:£1364.26,What i do not understand is, is the figure lower because i settled the loan earlier than 6o months or because they have not paid me the 8% statuary court interest OR have i been paid correctly according to how much i paid and am bad at maths?

I am very very confused!!! Please advise asap! if they have made a partial refund is there a template to get the rest back or have i been paid correctly and am just being greedy!!! Any help is appreciated greatly.

Thankyou for your time in advance!

did you get a settlement figure on your ppi when you paid the loan off early and how did you work out the 8% statutory interest?

kinikki

tiggrae wrote: »

delaying tactics probably, wouldn't advocate the Court route unless you really have to - if you get anything wrong in the court papers or responses you could lose your case even though you are basically in the right !!

Thanks for quick reply,I thought it might be delaying tactics but surely FOS
would see through that? I,ll wait another few weeks and enquire again.

Ploddy

Thought I would share my slightly amusing story with people on this thread. Wrote to my bank, earlier this month asking for details of loan. Simply wrote stating that I wanted copies of my terms and conditions as I no longer had them.
The bank apparently tried to contact me by phone but were unsuccessful. Anyway they sent me a compliment slip asking for me to contact a rep from my local branch. So I rang them to see what they wanted and was told.
"Sorry we no longer have copies of your loan agreement or other details because they were destroyed as as a result of a rodent problem". ???
So not willing to discuss anything over the phone, I told them I would contact them shortly, as soon as I hung up I wrote a letter asking for 2 things.
1) the information regarding rodent problem being put in to writing
2) reclaim my PPI.
This letter was then hand delivered to the bank yesterday afternoon, at about 20:00 about 4 hours after I spoke with the bank on the phone. Obviously the bank was closed then.
So today at 13:30 got a text from my wife, bank had called stating they had now found the original paperwork. ???
So to simplify.
"Sorry haven't got your paperwork"
"Okay put that in writing"
"No it's okay we found it now"
comical.

petermb_2

Priceless arent they?

Dicky-Dark

Can anyone advise me what to do? I tried to claim back ppi on my loan insurance with TSB, I,ve had a letter back today saying that I am not entitled to it and I can contact the FOS If i disagree. They have told me that I can cancel my policy and receive some of the insurance back, should I go ahead and contact the FOS or should I just cancel the insurance. I have paid almost #2,000 in premiums over the past 17 months and have a further 3 years and 5 months to go. Can someone please give me some much needed advice. Thanks

tiggrae

Dicky-Dark wrote: »

Can anyone advise me what to do? I tried to claim back ppi on my loan insurance with TSB, I,ve had a letter back today saying that I am not entitled to it and I can contact the FOS If i disagree. They have told me that I can cancel my policy and receive some of the insurance back, should I go ahead and contact the FOS or should I just cancel the insurance. I have paid almost #2,000 in premiums over the past 17 months and have a further 3 years and 5 months to go. Can someone please give me some much needed advice. Thanks

cancel and go to the Financial Ombudsman for the remainder

tiggrae

kinikki wrote: »

Thanks for quick reply,I thought it might be delaying tactics but surely FOS
would see through that? I,ll wait another few weeks and enquire again.

write to Barclays Bank plc Disputes and Litgations Department and complain about FP's disgraceful delaying tactics - First Plus is owned by Barclays even though they've been trying to unsuccessfully flog them off for years !!!!

tiggrae

Ploddy wrote: »

Thought I would share my slightly amusing story with people on this thread. Wrote to my bank, earlier this month asking for details of loan. Simply wrote stating that I wanted copies of my terms and conditions as I no longer had them.
The bank apparently tried to contact me by phone but were unsuccessful. Anyway they sent me a compliment slip asking for me to contact a rep from my local branch. So I rang them to see what they wanted and was told.
"Sorry we no longer have copies of your loan agreement or other details because they were destroyed as as a result of a rodent problem". ???
So not willing to discuss anything over the phone, I told them I would contact them shortly, as soon as I hung up I wrote a letter asking for 2 things.
1) the information regarding rodent problem being put in to writing
2) reclaim my PPI.
This letter was then hand delivered to the bank yesterday afternoon, at about 20:00 about 4 hours after I spoke with the bank on the phone. Obviously the bank was closed then.
So today at 13:30 got a text from my wife, bank had called stating they had now found the original paperwork. ???
So to simplify.
"Sorry haven't got your paperwork"
"Okay put that in writing"
"No it's okay we found it now"
comical.

maybe your bank should have fed their hamsters more often - I'd write to your local newspaper about their amazing disappearing rodent problem if I were you !!!

kinikki

tiggrae wrote: »

write to Barclays Bank plc Disputes and Litgations Department and complain about FP's disgraceful delaying tactics - First Plus is owned by Barclays even though they've been trying to unsuccessfully flog them off for years !!!!

Will write that letter to Barclays as don,t see why they should get away with it.Them trying to flog it off without success speaks volumes about the type of company they are.Thanks again advice much appreciated

Ploddy

tiggrae wrote: »

maybe your bank should have fed their hamsters more often - I'd write to your local newspaper about their amazing disappearing rodent problem if I were you !!!

hmmm.... something I hadn't considered. :idea:

Don't really fancy the media attention myself though. :think: