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PPI Reclaiming discussion Part III

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  • di3004
    di3004 Posts: 42,579 Forumite
    robbiewilliams wrote: »
    Hi yes sent an SAR but didn't hear so chased by phone. Agreement in post apparently! Loan was 6000, she then said PPI 1528.29 and total cost for PPI 2634. Total payable 9283. Am completely lost! What happens with it being before 2005 then can that cause a problem?


    Hi Robbie

    Not sure if you missed my other post above, but its just a bit of a letter for you to request a copy of the calculations, this way you can post by recorded post for your proof that it reaches them, as you can check the delivery on tracking down on the Royal mail website, they will not or should not ignore a recorded delivery item as they know you have some evidence to use if you have to complain to the FOS in the future.

    And agreement wise, you can also request for them to post a copy to you too if you've not received this, but just ring and ask if they charge for this, if so I think its just a £1 for the agreement, free for the breakdown calculations, and and for an SAR they have 40 days to get back with the information they have on your account, where a charge of £10 cheque or postal order is made for this request, because its everything then they should supply, including email copies, telephone recordings if any.

    I see you have already requested for a SAR, can you remember the dates on the SAR letter request you sent hun?
    We can work it out from there.;)

    Di
    The one and only "Dizzy Di" :D
  • Fossildog
    Fossildog Posts: 24 Forumite
    Hi, I am in the middle of claming back PPI. I paid £7200 PPI and paid the loan off after 2 years (was a 25 Year loan). Would I expect to get back £7200 + 8% interest plus whatever interest was charged on the PPI (10.9% on the loan I think)?
  • di3004
    di3004 Posts: 42,579 Forumite
    Fossildog wrote: »
    Hi, I am in the middle of claming back PPI. I paid £7200 PPI and paid the loan off after 2 years (was a 25 Year loan). Would I expect to get back £7200 + 8% interest plus whatever interest was charged on the PPI (10.9% on the loan I think)?


    Hi there
    And the very best of luck with this.
    Yes hun you should be put back in the position as if you did not have the PPI plus the usual 8% stat interest, it will work out the full amount of PPI, interest and stat interest.;)
    The one and only "Dizzy Di" :D
  • robbiewilliams
    robbiewilliams Posts: 174 Forumite
    di3004 wrote: »
    Hi Robbie

    Not sure if you missed my other post above, but its just a bit of a letter for you to request a copy of the calculations, this way you can post by recorded post for your proof that it reaches them, as you can check the delivery on tracking down on the Royal mail website, they will not or should not ignore a recorded delivery item as they know you have some evidence to use if you have to complain to the FOS in the future.

    And agreement wise, you can also request for them to post a copy to you too if you've not received this, but just ring and ask if they charge for this, if so I think its just a £1 for the agreement, free for the breakdown calculations, and and for an SAR they have 40 days to get back with the information they have on your account, where a charge of £10 cheque or postal order is made for this request, because its everything then they should supply, including email copies, telephone recordings if any.

    I see you have already requested for a SAR, can you remember the dates on the SAR letter request you sent hun?
    We can work it out from there.;)

    Di

    HI yes SAR request sent 4th Nov with £10. I sent Black Horse and Welcome together - no info from Welcome yet following my phone call but I did follow that up with a letter.
    After my phone call today they are meant to be sending agreement, they had a few problems locating it as I have had a name change and address change since then. As repaid in 2003, was is position as that was before they were regulated, would that cause a prob?
  • di3004
    di3004 Posts: 42,579 Forumite
    robbiewilliams wrote: »
    HI yes SAR request sent 4th Nov with £10. After my phone call today they are meant to be sending agreement, they had a few problems locating it as I have had a name change and address change since then. As repaid in 2003, was is position as that was before they were regulated, would that cause a prob?


    Arh okay then hun, so they have a few weeks yet then, although you may still be lucky to receive this before the 40 days deadline..hopefully anyway.

    It will be well worth writing to them then hun about the agreement and calculations, like Marshallka said phone calls mean nothing to these companies and there can be nothing to prove, in writing there is if also posted by a recorded delivery, not only that you will know when they receive this or any of your letters then.;)
    Many of us have been caught in that, thinking the person on the phone seemed friendly enough, even though some have received without writing to them, but best to be safe here.

    I don't think Black Horse were covered/regulated during 2003, please remind me was it them that arranged and sold you the loan? Or a loan broker?

    I do know others though taking different routes with these if they were not covered, the ombudsman will not be able to investigate unfortunately, it seems there are loads of us here in the same situation with some of the finance companies, but some even try to FLA, the financial leasing Association here:
    http://www.fla.org.uk/fla/consumerfinance/Consumercomplaints.riv

    It may also be worth your while emailing then to be prepared, just in case, to see what other direction you can take here, but yet with a good strong case the small claims court is another option to take and not too drastic as people think to what I am aware of.;)
    The one and only "Dizzy Di" :D
  • masmit
    masmit Posts: 146 Forumite
    di3004 wrote: »
    Hi Masmit
    Sorry to hear this.

    Please remind me to save going back who this was with, that will be great thanks hun.;)

    One of us will get back to you on this as soon as we can, yes your right, you feel like you've burnt every corner here and nowhere to go, so you have to wait now then for them to get back to you ?

    Give them until more of less the end of their day, I imagine they would finish by 5pm, and if you've not heard, give them another ring, tell them you have been waiting for a return call all day and you need to know where to move on from here.

    Good luck
    Di
    x
    hi di,
    just phoned FSA & spoke to insurance team, they advised i phone fos ask for them too look at my complaint again. they are taking my existing loan complaint on which is great news.[ dont understand being turned away first time] all previous loans prior to jan 05 not regulated by FOS, any help on how i proceed, FOS will not take these on. blackhorse unfortunatly the company involved. thanks for your help
  • masmit
    masmit Posts: 146 Forumite
    marshallka wrote: »
    Masmit, they HAD to have been authorised by the FOS at the time of when you had your loan. Get back in touch with the FOS now..... You have been told wrong.. they were authorised on 14th January, 2005...:eek:

    Ring the FOS now.!!!!!!!!!!!!!!!!
    thanks marsha
    have posted reply to di's response [above]
  • di3004
    di3004 Posts: 42,579 Forumite
    masmit wrote: »
    hi di,
    just phoned FSA & spoke to insurance team, they advised i phone fos ask for them too look at my complaint again. they are taking my existing loan complaint on which is great news.[ dont understand being turned away first time] all previous loans prior to jan 05 not regulated by FOS, any help on how i proceed, FOS will not take these on. blackhorse unfortunatly the company involved. thanks for your help

    Great news on the existing complaint then, brilliant.:T Good luck.;)

    Now with the other, I did also say to another member about these here:
    http://www.fla.org.uk/fla/consumerfinance/Consumercomplaints.riv

    Even though I have not dealt with these myself some have been successful others not, but have you considered small claims court?

    This may be another way and its not like the big courts etc, its not as much hassle and I am sure someone will be able to post more on this, its the last option I would take personally, yet it can be a lot quicker too.

    I can always try to find out more for you on this if your interested or someone who have been in this direction will hopefully post up.;)
    The one and only "Dizzy Di" :D
  • di3004
    di3004 Posts: 42,579 Forumite
    Just realised by double checking that the FLA does not apply to complaints prior to April 2007, I may have mis read and maybe they mean if the FOS are unable to take a look sorry folks for causing any confusion here but contact them, they will let you know, you may be lucky, but in case there are various types of complaints, it may be worth a phone call to them and they should be able to confirm another way.

    Read this here from the FLA site:


    What if you are unable to reach a satisfactory conclusion to my complaint?
    You may be able to refer your complaint to the Financial Ombudsman Service (FOS). Our member will send you details about how to do this at the relevant time.

    However, if your complaint arose before 6th April 2007, this option will not apply. If this is the case, FLA will advise you of your further options.

    Please ask us at any time if you would like further information about this. You can also contact FOS on 0845 080 1800.
    Other relevant information
    The one and only "Dizzy Di" :D
  • marshallka
    marshallka Posts: 14,585 Forumite
    Littleluc21 wrote: »
    GE Money have had both letters delivered and signed for.....let battle commence :-)

    L xxxx
    Good luck Littleluc :D
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