PPI Reclaiming discussion Part III

di3004

Starbug wrote: »

Hi Di,

Thanks, yes i will keep updating! I have been reading here for a year or two now and have just decided to motivate myself into doing something about the money they have had out of me for free. Having given them the car back as well as paying an absolute fortune on an account i kept entirely upto date throughout its duration i think its the least they owe me

And good for you, keep at them.:T

Di
x

di3004

masmit wrote: »

morning all,
my loans with black horse date back to 2000

Good morning masmit

Are you going to the court route with these hun did you say?

marshallka

maxdp wrote: »

Hi Marshallka

Sorry you are having problems with them. They put a similar paragraph in a message to me about that is the usual way these claims are settled:rolleyes:.

What are you going to do

I have actually just worked it back from a settlement breakdown and it is right I think from what I can tell.... I am just a little angry at listening to Tiggrae here and doing the calculations her way. I don't think that any of hers would be right in that she knows a lot about PPI but never takes a look at the actual settlement figures of the loans and how much of the rebates against the loans are for interest on the PPI. I may accept here and leave it at that because like I say I have worked these back and cannot see anything wrong on the one that I do have a breakdown on...


JUST WORKED IT ALL OUT BELOW AND THEY ARE WRONG NOT RIGHT.... ITS PROVED IN THE POST BELOW...

robbiewilliams

Hi all. Been chasing Welcome by phone again this morning, after sending letters. My husband took this one out at a Car dealership to buy a car. Could this be a problem?

di3004

marshallka wrote: »

I have actually just worked it back from a settlement breakdown and it is right I think from what I can tell.... I am just a little angry at listening to Tiggrae here and doing the calculations her way. I don't think that any of hers would be right in that she knows a lot about PPI but never takes a look at the actual settlement figures of the loans and how much of the rebates against the loans are for interest on the PPI. I may accept here and leave it at that because like I say I have worked these back and cannot see anything wrong on the one that I do have a breakdown on...

Hi hunni

I really do not know what to say really, I am stumped to be honest, but hun you have been through H*LL and back dealing with these and if you feel now your ready to accept then go for it, and we are happy if you are.;)

di3004

robbiewilliams wrote: »

Hi all. Been chasing Welcome by phone again this morning, after sending letters. My husband took this one out at a Car dealership to buy a car. Could this be a problem?

Hi there
So no success yet then I take it while chasing them up?

There should not be a problem really hun, please remind me how long ago was this one taken out (to do with the car)? Cheers.;)

robbiewilliams

di3004 wrote: »

Hi there
So no success yet then I take it while chasing them up?

There should not be a problem really hun, please remind me how long ago was this one taken out (to do with the car)? Cheers.;)

This one was 2000. They reckon waiting on archive dept to obtain records. I'm a bit unclear on the GISC thing could you shed any light?

marshallka

Maxdp, just for you and me here


Loan amount £9000
Loan interest amount £2580.55
PPI 2068.75
PPI interest £593.17
total amount loan and Interest £11580.55
Total amount of PPI and interest £2661.92

Repayments £237.38 x 60

Breakdown of repayments £44.37 for PPI and 193.01 for the loan

Repaid agains the loan £965.05
Repaid against the PPI £221.85

Loan total 11580.55 - repayments agains the loan 965.05 = 10615.55
PPI total £2661.92 - repayments against the PPI 221.85 = 2440.07

Owing on the loan at settlement 10615.05 less interest rebate on settlement statement 2482.00 = 8133.05

Owing on PPI at settlement 2440.07 - rebate received 1617.69 = £822.38

Now bear in mind that I loaned £9000 originally and paid off 965.05 so there was really at least £8034.95 of the original amount owing plus whatever interest they can charge to settle early.

I then paid to settle the lot £8956.21 and using the rule of 78 calculator I would have paid £8443.90 at settlement on the original £9000 with repayments made of 5 x £193.01 so the difference is £512.31



It seems what they have offered is 545.06 and my calculation is £1044.23 so it seems they are definately wrong here.... JUST SENT THIS TO THE ADJUDICATOR AS PROOF OF THEIR MISTAKES... IT SEEMS THE DIFFERENCE BETWEEN MY FIGURES AND THEIRS IS THAT OF £499.17 WHICH IS NEAR TO THE FIGURE ABOVE OF £512.31

Dreamer06

I have a few store cards all with GE money, I did put a claim in two years ago because of illness, they did pay the money into the accounts, but I thought that PPi's were to pay your monthly payments if you were unable to work because of a reduction in wages, i still had to pay the minimum amount every month. is this right, & can I still put a claim in? I am still paying the monthly PPI on all the cards

di3004

robbiewilliams wrote: »

This one was 2000. They reckon waiting on archive dept to obtain records. I'm a bit unclear on the GISC thing could you shed any light?

Right GISC was the regulator which companies (General insurance), then the FSA came into force in Jan 2005, not all were regulated by GISC prior to 2005, it was voluntarily.

The Financial ombudsman service are able to deal with firms and investigate complaints only if these firms were covered by these.

Other than that there is the Financial leasing Association here:
http://www.fla.org.uk/fla/consumerfinance/ConsumerFinanceOverview.riv

This is another way if your not successful for the FOS (financial service ombudsman), some are successful with these some are not depending if any of the firms are or were registered with them.

I am sure others here may have some useful info on this for you too.;)