PPI Reclaiming discussion Part III

di3004

marshallka wrote: »

After I received the email from the FOS about the jurisdicition issues on the Firstplus complaint about unfair rebate I sent this email to the adjudicator

On the bottom of the Evidence of Insurance form it states

any enquiry of complaint that you have should be addressed, in the first instance, to the claims manager of the scheme administrators at the address above. Should you not be satisfied with the reponse you may ask the complaints and advisory department at Lloyds to review your case. If you still remain dissatisfied you may then contact the Insurance Ombudsman. The scheme administrators will provide the address, Your rights in law.


I cannot see that this is outside of jurisdiction at all.


I have now received this in reply

Dear Mrs

Thank you for your email. Unfortunately I am unable to comment on jurisdiction at present.

I will contact you as soon as I am in a position to do so.

Thank you for your patience in this matter.

Kind regards

Hi Marshallka
Aww damn !! so your still none or the wiser then ?:mad:

And the usual response "Thank you for your patience in this matter" :rolleyes:

marshallka

Sazzle8 wrote: »

Hi Guys,

I have a Northern Rock loan and I have sent the 1st template from this website to them asking for a refund of the monies paid regarding the PPI. I have now had a response from Northern Rock saying that they will cancel the PPI but they will rework the loan figure, and the new figure is just a much as if I left the PPI on the loan?
I didnt think they could do this - any one any ideas?!?!
Thanks

What have they said about the misselling of the PPI here... have they given you the chance to send another letter of is this their final response.

Yes, they mostly do have to redo the loan and it often is not worth the trouble of cancelling the PPI. The PPI is actually another loan to pay the PPI premium on top of the loan you had originally and when you cancel this hardly reduces the payments at all as you get very little by way of the rebate and also your repayments will see little change.:mad:

marshallka

di3004 wrote: »

Hi Marshallka
Aww damn !! so your still none or the wiser then ?:mad:

And the usual response "Thank you for your patience in this matter" :rolleyes:

I am really just going to leave it for now. I have done all I can on this and will just have to trust the FOS are working on it as best they can.

di3004

marshallka wrote: »

Just received this in reply to my email about the 1999 loan redress offer on the PPI

Dear Mrs M

The Co-op have e-mailed me this morning and it says:
"Mr
I can confirm that our offer does include interest at 8% to each payment made by Mrs M. I also confirm that Mrs M is correct in stating that the loan taken out in 1999 was settled in January 2000, not 2001 and the redress will be made on that basis."

It appears that the redress is in line with what this Service would expect the business to do. The 8% interest is simple and not compound. When I receive the signed settlement form I will forward it to Co-op to arrange the settlement.
Yours sincerely

Does this sound like redress is as if we never had the PPI at all... .

I have emailed back today to make sure...

Yes I to me it does seem as if it will be put back right as if PPI not taken, hope they can reassure you on this today.

I had taken it that the FOS works this way, is there anything on my Nemo attachments similar to what they have added on your email, as mine was put back as if PPI was not taken plus the 8%?

It may give you some idea.

di3004

marshallka wrote: »

I am really just going to leave it for now. I have done all I can on this and will just have to trust the FOS are working on it as best they can.

I agree you have done everything possible - we shall keep our fingers crossed for you.;)

maxdp

Hi Marshallka

Have received calculations thank you so much for spending time on them. Still have not looked back at your post but will hopefully look today.

Take care all

marshallka

maxdp wrote: »

Hi Marshallka

Have received calculations thank you so much for spending time on them. Still have not looked back at your post but will hopefully look today.

Take care all

Just sent this to the FOS about my co-op ones as I note that some banks are calculating redress offers in the way in which yours was calculated and omitting the interest charged on the PPI.


Hi, I have done my own calculations in respect of the loans with the co-op and wondered if you could take a look at these against whatever they make in their redress offer. I have noted that some firms when making redressing offers are not taking into account the amount of the PPI and interest charged on the PPI too and some people are having to come back to the FOS for this reason.

In respect of the 1999 Loan

Total Cost of PPI and Interest £2661.92 - repayments against the PPI to 21/01/00 £221.85 - rebate received £1617.69 = £822.38
£822.38 + repayments 221.85 = £1044.23 plus whatever statutory interest is due on these figures from the date of settlement and repayments made


In respect of the 2001 Loan
Total Cost of PPI and Interest ££1922.24 - repayments made £363.84 - rebate received 791.77 = £766.63
£766.83 + 363.84 = £1130.67 + whatever statutory interest is due on these figures from the date of settlement and repayments made


In respect of the 2003 Loan
Total cost of the PPI including Interest £3425.50 - repayments made £773.11 - rebate received £1461.93 = £1190.46
1190.46 + repayments made £773.11 = £1963.57 plus whatever statutory interst is due on these amounts from the date of settlement and repayments made

These are the amount that I am expecting back as refunds. Is it OK for you to check these off against the agreements you have to hand.

Thanks,


Quick calculations of these amounts are

1999 Loan Total PPI and interest £2661.92 - rebate received £1617.69 = £1044.23
2001 Loan Total PPI and interest £1922.23 - rebate received £ 791.77 = £1130.46
2003 Loan Total PPI and interest £3425.50 - rebate received £1461.93= £1963.57

So working these both ways in the long way and short way I know what I am due back....

masmit

sarah7610 wrote: »

Hi,i have gone through the motions to reclaim PPI from Black Horse and I have just received this reply from them.

They have now said that "In the absence of any evidence in support of the claim, I regret to advise that our position remains unchanged as to that advised in our previous reply to you".
This letter is therefore our final response, which means that if you remain dissatisfied you may refer your complaint to the Finance and Leasing Assosiation.

Do I go to the ombudsman now?

Thanks Sarah

hi ,sarah
im having problems with blackhorse 39 days now no response to 3 letters sent after there first letter, stating the same as yours. i could not give evidence to proove the case because they havnt sent all documentation i have requested. its the FLA you need to complain to,& you can do that online on there website, good look

sarah7610

Hi and thanks for all the help but I have another question.....

Can you please tell me what the Finance and Leasing Association is?

Black Horse have said in their final letter that I can refer the matter to them. There is no mention of the Financial Ombudsman Service.

Thanks

Sarah

masmit

sarah7610 wrote: »

Hi and thanks for all the help but I have another question.....

Can you please tell me what the Finance and Leasing Association is?

Black Horse have said in their final letter that I can refer the matter to them. There is no mention of the Financial Ombudsman Service.

Thanks

Sarah

its the authority that governs blackhorse, to make sure they stay in line, ah ah. they say complaints are dealt within 8 weeks, here's hoping.