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Hi there,
Few weeks ago I recieved a phone call from my bank and the guy explained me what's going on with PPI's and that I have a right to cancel it, which I did. Few days after I recieved a letter where the bank offered me £611 refund. Should I accept it? Or can I claim for more refund? (what I mean - is it another "catch" like with the bank charges, when they offer you only ie. 60% refund)
Thanks in advence for help.
ndl
PS. I can paste a copy of a letter I recieved if needed.
Hi there,
Few weeks ago I recieved a phone call from my bank and the guy explained me what's going on with PPI's and that I have a right to cancel it, which I did. Few days after I recieved a letter where the bank offered me £611 refund. Should I accept it? Or can I claim for more refund? (what I mean - is it another "catch" like with the bank charges, when they offer you only ie. 60% refund)
Thanks in advence for help.
ndl
PS. I can paste a copy of a letter I recieved if needed.
Firstly which bank is it?
Do you have the original Consumer Credit Agreements or any other documents?
When did you take out the PPI? and is it with a Loan or Credit card?
Can you give any figures on the amount of PPI added?
If you can post more information without any personal details it would help.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Hi and thanks for reply.
It's Alliance & Liecester. I've got all the original documents, agreements, letters etc etc. I took out the PPI about month ago and it was with a loan.
Which figures do you need, because I don't know where to look for them.
Thanks a lot
Post everything you have but cut the personal infomation
If we can see the detail it should make it easier to put a mkis.sold cae together
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Right.... So what do you exactly need...?? what do you want me to post...?? I've got tons of letters and papers in front of me and don't know where to start from...
I'll start with basics - sorry, but I'm newbie...
I took the loan from Alliance & Leicester in October 2007.
LOAN
APR: 10.7%
Amount of Credit: £6000
Monthly payment: 152.88
Number of monthly payments: 48
Total Amount Payable: 7338.24
PPI
APR: 10.7%
Amount of credit: 1419.15
Monthly Payment: 36.16
Number of monthly payments: 48
Total Amount payable: 1735.68
TOTAL
APR: 10.7%
Amount of credit: 7419.15
Monthly payment: 189.04
Number of monthly payments: 48
Total amount payable: 9073.92
After a year (27.10.2008 ) I recieved Personal Loan Annual Statement and the Cloing balance shown there was 6994.48.
I hope that it'll make my situation a little bit clearer and you'll be able to help me.
Thanks again,
ndl
PS. Just to remind you that bank offerred me £611 as a refund.
PPI
APR: 10.7%
Amount of credit: 1419.15
Monthly Payment: 36.16
Number of monthly payments: 48
Total Amount payable: 1735.68
Ok now I am no expert on apr etc but.
You have been offered £611
If you have paid PPI from lets say Nov 07 the month after the loan started you would have paid 18 months including Apr 09 therefore 18 months at £36.16 total £650.88 (I do not know but would hope the £36.16 monthly payment included the interest on that payment which it seems to)
I think they are trying to get away with a few pounds.
You have a choice you can accept and it is quick money in the bank but you must cancel the PPI and get alternative cover if you require it.
You can refuse the quick money submit a complaint to the Financial Ombudsman Service with copies of all correspondence and let them decide if it is in you favour (most likely outcome) you will get your Money and probably 8% statutory interest on top from the start of the loan to the date you accept any offer from A&L. (problem is it will take months)
A&L have already faced a very large fine from the FSA for mis-selling, see this link it could help you with your claim
You should perhaps remind them of this if you decide to refuse their offer and suggest they add on the 8% statutory which could make your decision easier
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Offer from bank (PPI)
from my bank and the guy explained me what's going on with PPI
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