PPI Successes [NO QUESTIONS or EXPLANATIONS PLEASE] - just Bank/How Much with a link to your thread.

[crampers]

Gamba They gave her the initial interest paid on the loan and 13 years at 8% not compounded.

Didn't have to write they sent another letter about a week after.

[alanalana]

Mrs Crampers just received substantial compensation from the Bank of Scotland for a single premium PPI paid in 1996, still waiting for the interest as well.

 

One letter and they coughed up.

 

Well done on a very nice result I hope you enjoy the feeling of a positive result. It is nice to get your money back

 

aa

[fergal71]

if PPI on credit cards as recent case has proven render the agreement unenforceable.... is there a case to say that misold ppi on loans and mortgages etc render those agreements unfair contracts and make them unenforceable........?????????????? any ideas

[robin-banks]

Another win here v MBNA(Credit card), thanks to the help of members of this forum £4205 in premiums and £472 interest + £150 gesture of goodwill has been repaid

 

Now to resume the battle with Nasty West

 

Donation to the site on it's way

[alanalana]

if PPI on credit cards as recent case has proven render the agreement unenforceable.... is there a case to say that misold ppi on loans and mortgages etc render those agreements unfair contracts and make them unenforceable........?????????????? any ideas

 

There has been no legal precedent set yet as far as the case you mentioned goes. There would need to be a Supreme Court ruling before you could use anything in a legal argument.

[TINK660]

Hi all,

 

Received letter yesterday from FOS who have advised that as a gesture of goodwill MBNA are going to settle my husbands PPI complaint and compensate him £100. So far only a partial win in my opinion as no indication as to what the settlement is going to be and certainly dont expect it to be what I have worked out it should be, he's signed settlement form but fully prepared to return to FOS should MBNA's figures not match up to ours. From reading other threads, it would seem this is only part of the battle.

 

Tink

[Natalie6999]

M & S/Allianz Partial Victory after a year.

 

I first wrote to M & S to reclaim my PPI at the begining of November last year & after 8 weeks received the usual Bog off letter stating that as they were not members of the GISC when I took out my card in 1998 & therefore not regulated by FSA I had no comebacks, they said that it was a non advisory sale & I had known what I was taking out.

 

I replied stating again my points & after a further 8 weeks received another get lost letter stating that this was a final response & that no further correspondence would be entered into. On first enquiring to FOS I was told that they could not help me as M & S were not regulated at the time I took out my card, so I started to look for the insurer of the policy, trying Hamilton who were stated on the M & S Website & then Aviva who now own Hamilton but had no luck.

 

After a couple of months I read on a consumer website that FOS were now considering complaints that they had previously rejected & resubmitted my complaint to them, the wrote back to me asking me to complain to Allianz as the insurers at the time I took out my card & to start the whole procedure again, after 7 weeks I have received a letter from Allianz admitting that I was mis-sold my PPI, refunding the premiums but only with the flat 8% interest, after speaking to FOS I have stated that I will only accept the payment as partial settlement as I require the contractual compound interest on the payments as well as the 8% per year on top. I am still awaiting an answer at whether I will receive this, I have given my complaints oficer the number for the technical deparment at FOS who will put him right on the interest refund.

 

Still after not thinking I stood a chance at least I am on the way to getting my money back.

[alanalana]

Well done tink and natalie.

[citizenB]

Congratulations, Tink and Natalie.

 

Natalie, that just proves that persistence pays off. Well done.

[4I8U]

After my first letter to the Lloyds lot 5 months ago i recieved a letter from them today upholding my complaint about the PPI which they mis-sold. They have agread to refund the £1100 policy and 8% interest per annum on top for the last 4 years. Now just to keep on the case for the bank charges!!:-D

[alanalana]

After my first letter to the Lloyds lot 5 months ago i recieved a letter from them today upholding my complaint about the PPI which they mis-sold. They have agread to refund the £1100 policy and 8% interest per annum on top for the last 4 years. Now just to keep on the case for the bank charges!!:-D

 

Well done nice result did they not offer to pay the contractual interest ? which no doubt they will have charged you assuming this was a loan issue ?

 

aa

[RemarkLima]

One letter to HSBC myself, for a loan with missold PPI, and after 2 letters saying we need 4 weeks to investigate (so 8 weeks in total) they said, while not admitting liability (of course) that they're going to refund it all, so it's all been refunded plus the 8% interest.

 

As the PPI was all calculated at the start of the loan along with the loan interest all the numbers seem to stack up.

 

So good news and once again, thanks for all the help!

[4I8U]

Well done nice result did they not offer to pay the contractual interest ? which no doubt they will have charged you assuming this was a loan issue ?

 

aa

Yes sorry the £1100 odd policy included the interest for the loan period and they have to work out the 8% and come back to me!

Thanks for all the helpfull advise:)

[blamethebank]

Hi All

 

I have not been on here for a bit only because I have nothing to report regarding my long outstanding disagreement with Barclay Card and the mis-sold PP. Hoorayyyyy SUCCESS today I have at last won my battle with Barclay Card and have been have had £9,871.80 repaid by back to me thanks to help of the Financial Ombudsman Service !!!!

 

So those who are slightly disheartened by the length of time this takes to sort out DO NOT GIVE UP !!!

[Mr Worried]

Hi All

 

I have not been on here for a bit only because I have nothing to report regarding my long outstanding disagreement with Barclay Card and the mis-sold PP. Hoorayyyyy SUCCESS today I have at last won my battle with Barclay Card and have been have had £9,871.80 repaid by back to me thanks to help of the Financial Ombudsman Service !!!!

 

So those who are slightly disheartened by the length of time this takes to sort out DO NOT GIVE UP !!!

 

Hey Blame

 

Well done, be carefull with that money if ya gannin out in the town,

I have been made an offer of approx £1800.00 for a ppi of £3500.00, I am awaiting the ombudsmans decision.

 

Cheers

 

Mr W

[alanalana]

Hi All

 

I have not been on here for a bit only because I have nothing to report regarding my long outstanding disagreement with Barclay Card and the mis-sold PP. Hoorayyyyy SUCCESS today I have at last won my battle with Barclay Card and have been have had £9,871.80 repaid by back to me thanks to help of the Financial Ombudsman Service !!!!

 

So those who are slightly disheartened by the length of time this takes to sort out DO NOT GIVE UP !!!

 

Well done blamethebank

 

A quality result for you

 

If you can link me to your thread on the claim I will add the **WON** to the thread title. It is a gesture I use to help others stay focused

 

aa

[reddannio]

Hi,

 

I claimed PPI back form an Abbey credit card (MBNA) at the begining of the year. They of course said no so i referred it to the Ombudsman and had a letter from them last week to say they had spoken to MBNA and they have agreed to refund all PPI + £100 goodwill gesture.

 

My question now is how do i work out how much i should be getting? I have caluclated the charges to about £1500 going back to 2003. The letter from the ombudsman states how the figure should be calculated by reconstructing the account etc but im not sure i understand this. Ive previously claimed back charges on this account so its all a bit confusing.

[MRS_P]

Has anyone recieved or claimed back compounded interest?

 

My thread

 

http://www.consumeractiongroup.co.uk/forum/halifax-bank-bank-scotland/213228-mrs-p-halifax-visa.html

[dx_]

Well done nice result did they not offer to pay the contractual interest ? which no doubt they will have charged you assuming this was a loan issue ?

 

aa

Contractual interest ? Do I understand this right. If they charged me 27.8%, I can reclaim back 27.8%?

 

I sent the letter asking for a PPI full refund and the 8% interest the courts would award. Also I never worked out the PPI as the site I got the template from said it wasn't needed.:-?

 

Arrgh have I made an error?

[alanalana]

Contractual interest ? Do I understand this right. If they charged me 27.8%, I can reclaim back 27.8%?

 

I sent the letter asking for a PPI full refund and the 8% interest the courts would award. Also I never worked out the PPI as the site I got the template from said it wasn't needed.:-?

 

Arrgh have I made an error?

 

please see this:

 

Quote:

Originally Posted by landy_alert

Hi RV:-)

 

If I've understood this correctly, I think I now understand where the confusion over contractual interest being refunded springs from.......please correct me if I'm wrong!

 

On the forum it seems to be the general concensus of opinion that we should ask for a refund of our PPI premiums plus contractual interest plus 8% simple interest.

 

However, if the financial institution concerned refunds you these premiums as they were charged to you (ie, the PPI element of your monthly repayment figure) then this already includes interest at the contractual rate and apart from applying the 8% on top they have fulfilled their obligations to put you back in the position you would have been in had the PPI not been mis-sold in the first place.

 

Perhaps this is why we are getting mixed messages when we contact the FOS regarding their stance on contractual interest and why in my case LTSB initially said the refund had 8% applied and are now saying it includes interest at the contractual rate charged?

 

I think I've got it at last - sorry it took so long!!!

 

Thanks again RV - it's all beginning to make sense now, although the refunds won't be as large as expected:cry:

 

Regards,

 

Landy x

 

I think you may have hit the nail on the head with this post landy.

 

But I still have to be convinced by the FOS.

 

If you paid £xxx as a single premium the bank would have added on the contractual interest as a lump at the start of the loan. Then they calculate the monthly repayment over xx months so the monthly payment is xx which includes the interest added on at the start of the loan. In effect when you claim you will be getting the monthly premiums paid (which would include the interest at their contractual rate) plus 8% statutory from the date the premium was paid until you accept any offer. It is still a bit of no win because you sign accepting settlement and the bank takes weeks to pay up which IMO should realise those weeks in more of the 8% stat sadly this is not the case.

 

The Contractual Interest is still an issue and needs further research.

 

aa

[friendinneed]

Hi all just got notification that my PPI claim form Lloyds TSB for my duo airmiles card was successful to the tune of £336.40 . Not bad as I have only had it a couple of years. Nice surprise before chrstmas:)

[082stewie]

Hi all just got notification that my PPI claim form Lloyds TSB for my duo airmiles card was successful to the tune of £336.40 . Not bad as I have only had it a couple of years. Nice surprise before chrstmas:)

Excellent, what was the time frame from start to finish?

[friendinneed]

in total just under three months. Minimal complaining from them they just said they couldnt find the paperwork so couldnt prove me wrong and had no other option but to pay up inc interest

[telrac]

Whoo Hoo!! Just received letter from FOS saying they uphold my complaint that missold ppi and interest should be paid to ME DIRECTLY and not against the outstanding balance of my Egg loan as I have no history of arrears and never consented to the terms and conditions of my loan being changed. This is after Egg credited £4800 against my loan balance in July and I made my initial approach to FOS in August. Had more or less given up hope and am now just SO MADE UP!!! ;-)

[jansus]

Whoo Hoo!! Just received letter from FOS saying they uphold my complaint that missold ppi and interest should be paid to ME DIRECTLY and not against the outstanding balance of my Egg loan as I have no history of arrears and never consented to the terms and conditions of my loan being changed. This is after Egg credited £4800 against my loan balance in July and I made my initial approach to FOS in August. Had more or less given up hope and am now just SO MADE UP!!! ;-)

 

Well done you.!

 

As a note if any CAG team members are reading this can you not change the "pop up " that occurs everytime you type in FOS because it may put some people off and getting good results such as this.