Ppi Claim Letter..

[trt]

I put this in finance a few days ago, but no response, as I am thinking of claiming from my quite a few credit cards I had a few years ago.

Had a letter today to phone RBS about a claim for the above, on a 0800 number.

It was about a loan I took out in 2005 and speaking to them they said I have a sum to come, but couldn't tell me how much till I fill in the form they will send me.

I don't think it will be much, but any idea how much approx it will be, it was a loan for £2,500?

Its not a scam as I went through their head office and they had all my details when I used to bank with them.

[mikey4444]

Impossible to tell but there is a formula which the institutions must use to determine how to compensate you. They should refund all the payments that you made for PPI, and add a rate of interest on that sum. I can't remember what the % rate that they use but it is designed so that you are not out of pocket. It may take a few weeks to come through as millions of accounts were mis-sold.

[Peter Pedant]

.

RBS 'fessed up on PPI and have even paid a fine.
a fren' got a few hundred

the industry itself costs hundreds of millions of pounds in order to say to the little man : 'after two years thought and paper shuffling you have won - 17/6'

[mikey4444]

I should add that I had just short of £7000 last November !

[Peter Pedant]

Jesus Mikey - er do you wanna go out for a pint later on ? you pay

I got £600 for a mis-sold endowment 0 so I am not well endowed hur hur hur and the current endowments are coming in at around 50% (predicted).
And no I didnt have an endowment for £1200.

[mikey4444]

To be honest, it came as a bit of a shock to me as well PP ! This was my Bank, the Co-op and they admitted that every bank loan I had since 10 years ago was mis-sold. At least the PPI was. I didn't have to nag them or even provide much in the way of proof, as they just rolled over and admitted everything. There was some tax to pay, sop it ended up as a thousand less, but hey...nice to have.

Times have been hard recently, so I had a good Xmas and was able to stop working for the whole of December, which was nice. Wish I had been sold more PPI now !

[trt]

## : 'after two years thought and paper shuffling you have won - 17/6' ##

Are you saying they owe me 17 and sixpence Peter?

[factor-fiction]

The value of the loan is not the key factor. It depends how much PPI you paid. Look at your statements and see if they say. You could get some or all of the PPI payments back, plus interest,

[boxtops]

I agree with factor - it's the rate of PPI and the term you paid over which determines how much you get. I've had recovery on several of mine - and you get 8% interest on the total amount too.

[Gromit]

I got £1500 for my mortgage insurance. That was made up of my payments plus interest. I did not opt to push for compensation as that would have meant a lot more hassle and going through the ombudsman. I probably coyld have got an extra £50, but I was happy with the unexpected £1500.

I downloaded a letter from the Which? Website and filled in my details which meant the money was all mine. I did not have to pay some scummy company a third of my payments.

[mikey4444]

If there is anybody out there that was sold PPI and hasn't made a claim, do so without further delay. Its your money and you deserve it. In the early days of PPI claims, the banks used to argue the toss but now they have accepted that pretty well all PPI was mis-sold. All you have to do is to ask your bank for a claim form. They should have contacted you first, without being asked but just in case they have missed you out, get a claim in.

[trt]

Further to my first post, I had a letter this morning saying I had £436.00 to come for the above, and I just had to sign the form that came with it, and return!

Well pleased, and it was them that got in touch with me first, so now I am going to claim for the numerous credit cards I had at that time, just in case.