PPI Reclaiming discussion Part III

marshallka

di3004 wrote: »

Hi all.

Thanks Maxdp and Marshallka.

I do tend to have the documents within the SAR just saying about PPI query April 2004 and assumed as they had this then they may have still have had the copy of the letter, yet they seems to have everything else over the years......... .
I think the adjudicator was hoping I had this copy myself and this is why he questioned me on this 3 weeks ago, as they couldn't have had sent him anything either, only what I have about a PPI query.....

Was this the query when you wanted to make a claim for your hubby and could not as he was not named on the agreement?

di3004

marshallka wrote: »

Was this the query when you wanted to make a claim for your hubby and could not as he was not named on the agreement?

Hi hun
I remember writing to them to ask the situation if hubby was not working or sick, even though this was my card alone as he had his own and as I rely on his wages would this cover me, and I remember the reply was that I am not eligible. Can't remember much more to be honest. Then I did not know about mis selling and left it like that, as all this mis selling came alight in the media afterwards, so nothing was done about it, I thought then to cancel it would have meant to cancel the whole lot......:rolleyes: and repay the whole lot, yet when I had that Endeavour loan in July 2004 I cleared the balance and also sent them a letter of cancellation, not for them to send me any further cards as this was all paid off now, but that did not stop and I have never reactivated new cards ever since.

di3004

nomorevictims wrote: »

Thanks Marshallka

Perhaps your right about the adjudicator he must be new at the FOS. If he reckons there are grounds for mis selling why doesn't he just say so. I hate not knowing.

I will keep the forum update.

Good luck nomorevictims.

Hope its good news for you the next time you hear.;)

Di

pinknico

LOAN AMOUNT £17000

PPI AMOUNT £4420

Total CREDIT £21420

APR 9.8 % 0.7820% PER MONTH



MONTHLY PAYMENT £222.18
180 MONTHS

FIRST PAYMENT 01/06/2003

SETTLED 16/03/2006

Settlement figure £35,153.00
minus interest refund of £13659.84 =

£21493 settlement.

If anyone has a head for figures ,any idea if they have to refund PPI ,what figure I am looking at. Thanks xx

**MC**

Hi All, thanks for the help so far, the first letter is the post so we'll see what happens.

maxdp

pinknico wrote: »

LOAN AMOUNT £17000

PPI AMOUNT £4420

Total CREDIT £21420

APR 9.8 % 0.7820% PER MONTH



MONTHLY PAYMENT £222.18
180 MONTHS

FIRST PAYMENT 01/06/2003

SETTLED 16/03/2006

Settlement figure £35,153.00
minus interest refund of £13659.84 =

£21493 settlement.

If anyone has a head for figures ,any idea if they have to refund PPI ,what figure I am looking at. Thanks xx

Hi Pinknico

That would be unfair rebate wouldn't it? If so that would be with the insurers I believe

marshallka

pinknico wrote: »

LOAN AMOUNT £17000

PPI AMOUNT £4420

Total CREDIT £21420

APR 9.8 % 0.7820% PER MONTH



MONTHLY PAYMENT £222.18
180 MONTHS

FIRST PAYMENT 01/06/2003

SETTLED 16/03/2006

Settlement figure £35,153.00
minus interest refund of £13659.84 =

£21493 settlement.

If anyone has a head for figures ,any idea if they have to refund PPI ,what figure I am looking at. Thanks xx

How much rebate against the insurance did you have pinknico..??

Tiggrae did this with mine


PPI element was 4420 divide by 25840(which is the total of loan and PPI without interest) = 17.11%
Repayments were 222.18 so 17.11% of 222.18 is 38.01 and this was how much of the repayments were actually paying the PPI each month and interest on the PPI.
38.01 x 180 = 6841.80 which is the total PPI plus interest

6841.80 - (34 repayments of PPI 38.01= ) 1292.34 = 5549.46 - rebate of the insurance =
5549.46

5549.46 + repayments made 1291.66 = 6841.12 being what you would be due back if missold minus whatever rebate you had against it...

I have done it like this so you can check back against how tiggrae does these calculations and how she did mine and everyone elses...

maxdp

Loan 1
Agreement No.: 1

Loan Details (From agreement) Actual Costs (Over full term of loan)
Loan Amount £17,000.00 Total True Cost £39,992.40
PPI Premium £4,420.00 (A ) Total Interest £18,572.40
Total Loan £21,420.00 Annual Int.% 9.384
Apr% 9.8 Annual PPI Int. £414.77
Monthly Int.% 0.782 Total PPI Int. £4,147.73 22%
No. of Payments 180
No. of Years 10 Actual Costs (So far)
Monthly Payment £222.18 Monthly PPI Int. £34.56 (B )
No. of Months Paid to Date 33
PPI Interest Paid to date £1,140.63

Settlement (If applicable)
Settlement Figure £35,153.00 PPI Kept by Lender £4,420.00
Settlement PPI Rebate >>>
Actual Settlement £21,493.00 >>> What should be refunded* £4,420.00

Plus 8% interest from bank charge calculator

But am sure Marshallka will come up with some figures. Surely this should be unfair rebate ?

pinknico

marshallka wrote: »

How much rebate against the insurance did you have pinknico..??

£720:cool:

maxdp

Loan 1
Agreement No.: 1

Loan Details (From agreement) Actual Costs (Over full term of loan)
Loan Amount £17,000.00 Total True Cost £39,992.40
PPI Premium £4,420.00 (A ) Total Interest £18,572.40
Total Loan £21,420.00 Annual Int.% 9.384
Apr% 9.8 Annual PPI Int. £414.77
Monthly Int.% 0.782 Total PPI Int. £4,147.73 22%
No. of Payments 180
No. of Years 10 Actual Costs (So far)
Monthly Payment £222.18 Monthly PPI Int. £34.56 (B )
No. of Months Paid to Date 33
PPI Interest Paid to date £1,140.63

Settlement (If applicable)
Settlement Figure £35,153.00 PPI Kept by Lender £3,700.00
Settlement PPI Rebate £720.00 >>>
Actual Settlement £21,493.00 >>> What should be refunded* £4,420.00

Plus 8% interest. Mine still comes out same.?