ppi payout advice

[gazzaevo]

ive had a ppi claim for awhile now with a company and was waiting to hear from my bank for them to make a decision on my claim and today i got a cheque from my bank for my ppi but i dont understand why the cheque never went through my ppi company as i had to contact them and send them there fee. is this normal

[gillwall]

Re: ppi payout advice

They may send you an invoice for their fee seperatley.
Gill x

[di30]

Re: ppi payout advice

Hi and welcome

I've never went though making a reclaim by using a reclaiming company, but as far as I am aware - paperwork you signed earlier with them should disclose details of the procedures etc.....

Like Gill says maybe a separate invoice will come through the post, give it a few days ;-)

[gazzaevo]

Re: ppi payout advice

It's just horrible getting a cheque and now i have to give them just under 5 thousand pound

[di30]

Re: ppi payout advice

That is an awful lot or money Gaz.

May I ask if they've done anything to help? Such as keeping you posted all the way, despite the fact of them dealing with the case from the start?

If your not happy with their service, you could contact them at first, or maybe contact the Ministry of Justice (MOJ) Claims management.

I've not had dealings with claims companies before, but I'm sure this is the company you can complain if your not happy ;-) Good luck.
http://www.justice.gov.uk/complaints...ent-regulation

[wassa629]

Re: ppi payout advice

Hi, new to the site. I'm after some advice on where my next step should be. I've just received a letter from MBNA stating that my complaint has been upheld and they are repaying me:

£153.70 - total amount of premiums charged from date of sale
£81.40 amount of associated interest
£200.82 8% gross interest
minus £40.16 in tax

So amount payable is £395.76

First i'm happy that it's been upheld but the me the figures seem totally wrong. My account start date was July 98 and the account end date was June 2011. From Dec 05 to Jun 2011 my balance was between £5000 and £10000 and according to my credit agreement i would pay 68p per £100 of my balance in PPI. So according to my calculations being repaid the premiums back alone i am owed a few thousand. My question is what should i do now? Should i go straight to the FOS or should i write to MBNA even though they have stated that this is their final response.

[di30]

Re: ppi payout advice

Hi Wassa and welcome

I am not the one for the calculation side of things, but what you should receive is all premiums you paid to date, plus the relevant interest, and 8% int to date of what a court would award.

Maybe someone will be along soon to go over this for you, but meanwhile here is a link that will take you to how to understand calculations, done by Turbo and Bilk etc.
http://www.legalbeagles.info/forums/...I-Calculations

If you can start your own thread so that it won't get missed, and subject it as "PPI calculation help/refund" any probs let us know.

If there appears to be something amiss, I would write/email the business, also the chief executive officer (CEO) to bring this to their attention to give them a chance to put it right, if they fail to do so, then yes move on to the FOS, but please be aware this can be a long wait if you don't mind waiting.
Hopefully though anything incorrect can be put right ;-)

Good luck.

[wassa629]

Re: ppi payout advice

Thank you di.