PPI calculations help

[Paraman1]

Thats great. Thanks

[Paraman1]

Update on my claims

 

After fending off the standard letters from Natwest with your last advice I have recently been sent specific reference numbers which are now logged in their system.

 

Also I have just received statements from Barclaycard following SAR and as expected they only date back to November 2006. The visa card was obtained in April 1995 and PPI cancelled January 2010 which makes a total of 177 months paying varying amounts of PPI. From the statements I can see that from November 2006 to January 2010 (38 months) I paid over £1200 in PPI. Any advice on my next move?

 

Thank you

[dx100uk]

fill out the soc

 

dx

[mad_dr]

Wow. There are some EXTREMELY helpful and clever folks on here. I hope Paraman has success in his claim and have a feeling that the maths provided by ims21 will come in very handy for my claim (3 loans which were refinanced with PPI on top of PPI on top of PPI, etc.)

 

All the best.

[Paraman1]

SUCCESS

Just received a letter from RBS who have made offers on each of the payment protection policies I have had since 1998. I should say they are a gesture of goodwill without any admission of liability. The total sum is £13,972 which is just £75 short of the spreadsheet calculations.

 

I must say a big thank you to members of this forum and particularly ims21 for so much help. It goes without saying that a donation will be made once I have sent off the acceptance forms and received the settlement.

 

I must also say that I think it helped that I had most of the information for the accounts to hand (it pays to be a hoarder) and was able to quote account numbers and dates accurately.

 

Thank you all and next stop Barclays.

[ims21]

Whoo Hooo....Well done you

 

Congratulations.

 

Let us know when you actually get the money and we can update your thread title to reflect your success.

 

£14k is not to be sniffed at....what time are we meeting at the pub?

[dx100uk]

now that is a great result

 

The Consumer Action Group needs help to cover itsexpenses.

You could help by making a money contribution to http://www.consumeractiongroup.co.uk/paypal.php?go=donate

dx

[Paraman1]

Thanks and yes donation will be forthcoming and drinks all round if you happen to be in the Maidstone area,

[mad_dr]

Congratulations Paraman - great news! Would you mind sharing your covering letter (which I presume included your justification) and the section from the questionnaires that is titled "please indicate why you now consider the PPI to have been misssold"? It would be extremely useful to see examples of successful justifications - sometimes it's not obvious that PPI was actually missold so your experience may well help others with their claims.

[Paraman1]

Hi mad_dr

 

In my case the PPI involved 3 consecutive bank loans (with PPI) and a fourth without PPI, dating back to 1998.

I believe I was successful for the following reasons

1 -The incredible help from this forum

2 -I was able to lay my hands on the required documents and dates (without SAR)

3 -I have been self employed for 30 years, therefore PPI was worthless .

 

This is my covering letter (names removed) Hope this helps

Your Address

　

Address of Bank

 

Dear Sir/Madam,

 

Re: Personal loan protector policies - (policy Numbers here)

I was sold the above consecutive policies from (date) to (date in connection with personal loans from your bank

I believe that I was mis-sold these policies for the reasons given below, and wish you to investigate my complaints according to your normal complaint procedures.

I was led to believe that my application would be rejected if I did not take out the insurance.

 

The policy exclusions were not explained to me either before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me.

 

I now believe the insurance was unsuitable for me as I was self employed at the time I took out the policy and was not made aware of the specific exclusions relating to unemployment cover.

 

It was not explained to me that the policy premium would be paid upfront as a single premium and would be added to my debt and attract interest.

If my complaint is upheld I require a refund of all premiums paid to the policy, plus any additional interest charged to me because of the PLP. I would also like to claim statutory compensation in view of the fact that I have been deprived of the use of this money.

Please now investigate my complaint within the eight weeks allowed to you and find attached the following documents

Copies of Loan agreements

Financial Ombudsman Service consumer questionnaires for each policy

Loan analysis spreadsheets for each loan

PPI redress calculations under FOS rules for single premium policies

　

Yours faithfully

(your name)