PPI Reclaiming discussion Part III

marshallka

di3004 wrote: »

Hi Marshallka
I think it will only have to go to the ombudsman himself if the firm do not agree, the adjudicator has the opportunity to put this right for you, if yours is not correct then I would ask them how they actually worked this out if this is the case, yours is more than likely to be right though hun.;)

Good luck.;)

I am happy to be corrected if I am wrong but I want them to prove it to me..:mad:

marshallka

di3004 wrote: »

Yes hun the guy who emailed back was the guy the FOS given me the contact and address details for.

I emailed him back with further details, so I am hoping to hear from him tomorrow, if not then I will be in touch with the FOS consultant, then they will think I'm checking up on them......:o :rolleyes: , I only emailed them to see if the details reached them a fortnight or so ago and if its being dealt with.
The FOS said they were not allowed to send a copy of what they sent as they do not do this.......think I posted a copy of her email on here last week, so now I have not got a clue.....

This is so strange unless its the FOS who have not sent the letter yet and only just dictated it or something..dying to hear what the answer from the FOS is..;) .

marshallka

sue149 wrote: »

can anyone help how far back can you go on appl claim and can you claim even if the loan has been paid

You are free to make any complaint at any time but if you mean for this to go to the FOS then you have 6 years usually or if its a bank or the firm was a member of the GISC and you only just became aware of the misselling then you can have longer...some get them going back over 6 years!!. The thing is though if you are making a complaint going back further than 6 years and you do not have the paperwork then the business is allowed to say it does not hold the records either. The 6 years start from when you actually settled the account though.

marshallka

nomorevictims wrote: »

Evening everyone

I had an email from the adjudicator today about the explanation of the calculations of my award from Black Horse finance. The calculations total a sum of £1379.55 which had been added to my existing agreement with them. This means, I think in theory I get nothing back because I am in arrears with the loan. I thought I would get more money than what has been calculated. BH state that any interest charged in relation to the policy is being reversed today. What does this mean? For 3 loans (albeit re-finances) dated 2005, 2006 & 2007 for the sums of £4,000, 6,500 & 10,000 this seems a small refund.

The adjudicator states the following;

Dear Mrs xxxx

An explanation of the calculations carried out and the changes made to your existing loan. You should see this reflected in your account shortly.

Quite honestly I'm gutted. I know I have been in arrears for the past 5 months but this is just a drop in the ocean. I was expecting abit more cash. I've emailed the adjudicator because I believe the sum awarded is incorrect.

This is getting all too common now. Mine were wrong in my eyes today and its seems so many are too. I think the FOS should help more with the calculations and not let the business's lead the way.

marshallka

tylerlewis wrote: »

Yes. All Ive had is a letter to say they received my 1st letter and will reply in due course. Had nothing since.

They are probably just stalling to the last minute. There is nothing you can do until 8 weeks are up. I wish you luck here.

marshallka

dixiedriver wrote: »

Just logging in & catching up on posts now.....

Thanks for your reply earlier. I am a bit daunted I have to say, but will do as you suggest & await their response.

You've had a stressful day - I hope it all works out in your favour.

United we stand......

arrr, thanks for your support. I have calmed a little now and looking at everyone elses always helps to know you are not alone.

marshallka

tigger_167 wrote: »

Can I just ask if you don't have your original loan/credit card agreement or statements - do you need to get copies of them before you can send your reclaim letter ?!

And say you have original agreement but no statements - can you send your reclaim letter - or do you need to have all the evidence first?!

You can write a reclaim letter without the agreements but I would also send a letter out asking for copies of the agreements too. This would probably be best seperate and also send both recorded delivery. Ask for the copy agreements under section 77/78 of the Consumer Credit Act and they have to oblige in 12 days. When you write the reclaim letter then state the name and correct address of the loan(s) at the time the loans were taken out.

marshallka

This is the tool I have used with my 1999 co-op settlement

http://www.hughchou.org/calc/rule78.cgi

I took the loan as being just the loan without the PPI of £9000 and then the repayments against the loan were £193.00 (they were actually 237.38 but 44.38 of each repayments was the PPI and interest). I made 5 repayments and then the settlement should have been £8443 and it was actually £8956 so there is a difference here of £513.00 being that this amount was included in my settlement as PPI interest...

My PPI was £2662.80 and that included the interest, I made 5 repayments against it of £44.38 totalling £221.90 and then had a rebate against it of £1617.69. If you take the 2662.80 and take the rebate off it comes to £1045.11 and they are offering me £545.06. The difference between what they charged me and what they are offering me is that of £500.05 and it happens to be the difference in the settlement that I was charged and the settlement that I should have been charged.

If my figure of £1045.11 is wrong then surely if I had the loan above and settled with a difference of £513.00 and made repayments too of £221.90 then its at least this amount being 734.90...which again is more than the £545 being offered.

This is doing my head in... why does the FOS not help with the calculations. If they had given me a working of how these rebates were made then perhaps I could get my head around it but I can't see how we were only charged £545 for this one alone.. Its so confusing...

nomorevictims

Thanks Marshallka

You are absolutely right. Why can't the FOS be more proactive rather than leave the calculations to the businesses. I am not going to accept the calculations until I can see a proper breakdown. I know I've won back ppi insurance from BH which should be a victory but I am rather saddened by the outcome as having campaigned hard for so long (12 months) it feels like it's all been for nothing if it means giving it all back to the business to reduce the cost of my existing loan.

bathgatebuyer

marshallka wrote: »

You and me both then today... hope it gets there soon for you. Can you not ask for the fast track if you are financially stuck. I would but you have to send them proof. I asked but all I got was your comments have been noted etc but still worth a try...good luck

I think I will do that. I can send them copies of the letters I ahd from the Councl Tax people showing them the Coucil Tax situation and the situation over my property manager's bills. The Council Tax issue in particular is making me struggle quite a bit at the moment. I've got enough to get by until the end of the months but I have had to reduce the amounts I'm paying back to Egg for my credit card which effectively means that repayng the Council tax guys hits me with the 21.9% APR from the Egg card :rolleyes: Seems unfair that due to their balls-up, I get a bill like this out of the blue and have to struggle.

Will write something to the FOS tomorrow copying them in on the correspondence I have in relation to this issue and see if it will push them to do something more than note it on my file!