PPI Reclaiming successes and failures

computerbuddy wrote: »

Did i read it right on someones thread that Halifax dont have the 16 week extension? Its just that in one of their letters to me thay state that they do have 16 weeks to provide me with a response.
Fantastic and well done to all winners!!!!!!!!!

Halifax do have the extension :D:D
A poster on this site who shall be nameless (begins with the initial T:rotfl:)
Was having a blonde moment
They have been forgiven :)

We’ve just discovered some old loans and credit cards via a credit report, so I’ve been trying to find out if any of them had PPI added.

Frustratingly, one of the loans, with First National (now owned by GE Money), finished just over 6 years ago, ie the 6 years was up about 12 days before I contacted them...we only had the last 4 digits of the reference number (as this was on the credit report), and they say they can’t find any information without the full account number. Now, we had also given them the full address at the time, the exact start and end dates of the loan, date of birth, and my OH has a very unusual name, so it’s very unlikely there’d be 2 of them....surely this should be enough? I don’t know what to do next..we’ve no paperwork, our current account (elsewhere) doesn’t show old loan account numbers, we don’t know if there was PPI or not, and I’m guessing they could now claim they’ve destroyed all the paperwork anyway in the three weeks since the 6 year deadline was up?

I’ve also had the same thing from Barclaycard - that they can’t find our old credit card details without the full account number (we gave them the same info as above), but at least that card was only closed 5 years ago, so they should still have something on file if we can just get to it...:(

Any suggestions very gratefully received please ?
x

leondp wrote: »

Hi Guys

I need your expert help, I have been in contact with Barclaycard since 2009 for PPI miss sell today I received a phonecall to say they would be sending me an offer, great I thought. I asked how much and she said 67 pounds, I said I have been with you since 2001 and my balance has been 5000 pounds for most of that time ?? It works out I changed my card in 2008 after I paid the balance in full and then cancelled my PPI. They are now claiming they have no record of my account prior to this.

I have tonight scrolled through credit reports but I cant see the account number, I have checked my Lloyds online statments and I can see I paid them a standing order every month for 200 pounds since 2001, but there is no referance number for the account. I have also had a SAR from them but its not on there. So basically if I cannot find the account number, I cannot claim. Can anyone tell me where I can find this account number ???

Hi there, on your banking for the standing order,(not the payments you made in the statements), you should have the account number,look in your standing order list and see if this account is there,this should give you the account number that this was paid to,ie the card number.

waterbaby2 wrote: »

We’ve just discovered some old loans and credit cards via a credit report, so I’ve been trying to find out if any of them had PPI added.

Frustratingly, one of the loans, with First National (now owned by GE Money), finished just over 6 years ago, ie the 6 years was up about 12 days before I contacted them...we only had the last 4 digits of the reference number (as this was on the credit report), and they say they can’t find any information without the full account number. Now, we had also given them the full address at the time, the exact start and end dates of the loan, date of birth, and my OH has a very unusual name, so it’s very unlikely there’d be 2 of them....surely this should be enough? I don’t know what to do next..we’ve no paperwork, our current account (elsewhere) doesn’t show old loan account numbers, we don’t know if there was PPI or not, and I’m guessing they could now claim they’ve destroyed all the paperwork anyway in the three weeks since the 6 year deadline was up?

I’ve also had the same thing from Barclaycard - that they can’t find our old credit card details without the full account number (we gave them the same info as above), but at least that card was only closed 5 years ago, so they should still have something on file if we can just get to it...:(

Any suggestions very gratefully received please ?
x

I had something similar with First National although my 6 years dosn't run out until November this year, but same as you I only had the last four digits.
I contacted my bank about the end of June to see if they could find out the account number, it has taken them until Monday of this week but I got it in the end, so you could maybe try calling into your local branch as thats what I did and I have to say although it took a few weeks as it had to be sourced from Denmark they were very helpful.
From what I can gather and I have spent many hours chasing my tail on this one Santander took over some of First Nationals loans.
I have just sent the complaint letter to them on Monday of this week so fingers crossed, mine was an HP agreement on a computer.
Hope this helps.

Sophieh wrote: »

Woooooaahhhhhhhhh!!!!!!!!!! Are you now saying I should get back £17k???? Do they HAVE to pay me that much back?? I honestly don't understand WHY they would pay us back the premium, plus interest for us to do with as we wish......PLUS another premium amount to reduce the loan back to the £30k?? Or is it a case of if they were feeling ultra generous they would! Cause err....somehow I don't think loans.co.uk would be THAT generous!! lol Sorry if I'm asking dumb questions I just need to know how much I am ENTITLED to fight for........and don't get why on earth they would pay you back twice!

The rules from the FOS on a loan that is still in force say that you should be put back in the poistion as if the PPI didnt exist.

When you took your loan out You borrowed £30000. However to protect the payments a policy was bought on your behalf using another loan to pay for it. In your case the cost of this extra loan was £8100.

The policy will be in force for the first 5 years of the loan and then stop meaning that you have no cover for the remaining 10 years.

You will pay interest on this loan over the whole of the 15 years.

At 10 % the cost of this £8100 loan over 15 years is £87.04 meaning that you will pay a total of £15,667.74.

What happens when a complaint is upheld is this.
The payments you have paid to date will be returned to you and simple 8% interest is added.

The loan company then would remove the PPI from the account so that no more interest is payable for the future payments.

Using the example above;
If the premiums were paid for 80 months then £6963 would be returned to the customer (£87.04 x 80) plus 8% interest

The loan company would then take off the £8100 PLUS A LITTLE INTEREST from the total loan amount to ensure that the future loan payments reduce by the payments made to ppi.

The total cost UK loans to put you back where you belong is
refund of the premiums paid to date plus 8%
Refund the single premium ppi off the loan plus interest to ensure future payments would reduce by the ppi payments.

What you are saying is that uk loans are paying you both amounts and you are deciding not to pay off the loan for ppi keeping the payments as they are. Hence the payments all come to you.

I am convinced that the broker would have to liase with GE and say what is the cost to us of reducing the current loan balance so that the future payments at the original loan cost. I hope they have.

My suspicion is that they will pay you a goodwill type of gesture.

So in my opinion Yes in orde to be fully compensated you need a both the ppi refund of premiums plus interest and the return of £8100.

I could be wrong I havent dealt with a case where the customer is being allowed to keep the compensation that would have gone to restructuring the loan, except through the FSCS and the broker has gone bust.

N:beer: