PPI Reclaiming discussion Part III

di3004

showergirl wrote: »

Just a qickie to tell you that I received a letter today from the ombudsman saying they have wrote to Tesco PF on my behalf and have sent me the forms to send off if I do not get a satisfactory reply. Hopefully this should get things moving. Can't stop will speak to you tomorrow. Wish me luck

Good luck Showergirl.;)
Hope you get some success here.:D xx

marshallka

di3004 wrote: »

Thanks for working them out anyway :T , you know me I have not got a clue where to start......:o , I take it its the amount of PPI paid in plus interest I should try to reclaim back minus the rebate.;)

I know that the Endeavour one was confirmed by the HFC that they used the rule of 78 but not the nemo one.

Endeavour £21K this was a regulated agreement and ppi of less that £3K, added in together in the loan.

If you try and claim back the amount of the PPI plus the interest less the rebate you would be reclaiming back far too much as they rebated all the interest in the settlement figure. The amount of the PPI to claim is the £800 odd.

If you take the amount of the PPI plus interest £18228 and then the rebate was £7644.43 you would be making a claim for £10785.00.

If you actually borrowed £43000 and then repaid them 9 x 370.53 = 3334.77 and settled the loan with an amount of £43559.25 and then they gave you £10785.00 back you would have been paid about £10K for having the loan??? Why do you think you are due back £10K Di... I am sooo confused here with this one... . I

I know you do not understand this but you were not charged this £10K in the first place... they rebated it all except what it initially cost you for the 9 months...


You would have been charged interest on the loan and also a settlement charge to settle.

marshallka

di3004 wrote: »

Thanks for working them out anyway :T , you know me I have not got a clue where to start......:o , I take it its the amount of PPI paid in plus interest I should try to reclaim back minus the rebate.;)

I know that the Endeavour one was confirmed by the HFC that they used the rule of 78 but not the nemo one.

Endeavour £21K this was a regulated agreement and ppi of less that £3K, added in together in the loan.

This is the Click original loan isn't it Di... What were the figures for this one...

di3004

marshallka wrote: »

If you try and claim back the amount of the PPI plus the interest less the rebate you would be reclaiming back far too much as they rebated all the interest in the settlement figure. The amount of the PPI to claim is the £800 odd.

If you take the amount of the PPI plus interest £18228 and then the rebate was £7644.43 you would be making a claim for £10785.00.

If you actually borrowed £43000 and then repaid them 9 x 370.53 = 3334.77 and settled the loan with an amount of £43559.25 and then they gave you £10785.00 back you would have been paid about £10K for having the loan??? Why do you think you are due back £10K Di... I am sooo confused here with this one... . I

I know you do not understand this but you were not charged this £10K in the first place... they rebated it all except what it initially cost you for the 9 months...


You would have been charged interest on the loan and also a settlement charge to settle.

Yeah I know what you mean.

Do you mean the first one now PPI of £8492.50 hun?

Just looked back at your calculations and see your point here now of the amounts of £10K which was not charged.

Its me getting confused now lol......:o

di3004

marshallka wrote: »

This is the Click original loan isn't it Di... What were the figures for this one...[/quote

Yes this was the one Click Finance arranged, will dig out the figures for this now, and HFC states this was worked out by using rule of 78.

Taken out July 2004 and settled November 2005
25 year loan.

Back in a min.:D

di3004

Endeavour as arranged by Click Finance.

Taken out July 2004 and settled Nov 2005.

Loan £21K
PPI £2835.00 Total loan amount - £23835.00

9.52% per annum, fixed for the first 12 months.

£208.51 a month
EST repayment period - 300 months 9.9APR%

Single Accident/sickness & unemployment


To settle loan at £23646.04

....................................................................................................
This was mis sold as we were then told its all part of the loan, a few reasons really, but am unable to pursue on the mis selling due to the company dissolving this is why we had taken the other option, as we still thought the amount was a lot considering we only had this for what 15 or 16 months, we did not know what the rebate was until we complained about it to Endeavour which they said it was down to the broker they said, and the amount they said they rebated was that of £1533..69, which left the figure of £23646.04 to settle.

marshallka

di3004 wrote: »

Yeah I know what you mean.

Do you mean the first one now PPI of £8492.50 hun?

Its me getting confused now lol......:o

Yeah, I mean that one as the interest was not charged at all. You said your claim was actually the PPI plus the interest which was the £18K figure and then take the rebate off which was the £7644 figure and then make a claim for that but you never paid any interest at all in the settlement and they refunded you all the PPI owing as well. You were only actually charged 9 months PPI and that is your claim.

I wish someone else would confirm this to you.

pixiechick99

Hi there,
I'm just looking for a bit of advice. I have a Lloyds loan that I took out last April after I separated with my husband - the bank kind of told me I should have it to pay of my share of the overdraft, then they 'kindly' added on £3k I would need!!
Anyway I took out the PPI, but I'm now wondering if I can attempt to reclaim this on the grounds that I have Crohn's disease, had it for 9 years, so if I was to fall ill (this is usually the only reason I miss work) I wouldn't be able to claim as it's an illness I already have. I've dug out the paperwork from when I took out the loan, the total PPI over the loan term is £2161.
Is this a long shot, or worth a try? That is my only worry, that my Crohn's would flare up and leave me off work, but the PPI wouldn't cover this.
Many thanks.

di3004

marshallka wrote: »

Yeah, I mean that one as the interest was not charged at all. You said your claim was actually the PPI plus the interest which was the £18K figure and then take the rebate off which was the £7644 figure and then make a claim for that but you never paid any interest at all in the settlement and they refunded you all the PPI owing as well. You were only actually charged 9 months PPI and that is your claim.

I wish someone else would confirm this to you.

Yes I did mention the interest didn't I lol, I remember you telling me about this before, I think its because I include it automatically normally lol, silly daft me.....:o lol:D

di3004

millyscarlett wrote: »

Hi there,
I'm just looking for a bit of advice. I have a Lloyds loan that I took out last April after I separated with my husband - the bank kind of told me I should have it to pay of my share of the overdraft, then they 'kindly' added on £3k I would need!!
Anyway I took out the PPI, but I'm now wondering if I can attempt to reclaim this on the grounds that I have Crohn's disease, had it for 9 years, so if I was to fall ill (this is usually the only reason I miss work) I wouldn't be able to claim as it's an illness I already have. I've dug out the paperwork from when I took out the loan, the total PPI over the loan term is £2161.
Is this a long shot, or worth a try? That is my only worry, that my Crohn's would flare up and leave me off work, but the PPI wouldn't cover this.
Many thanks.

Hi there.

Did they not explain the exclusions of this loan ppi to you when this was sold to you hun?

You may have a case here, have you still the terms and conds for this by any chance, this should explain if you would be eligible or not, mine are older so maybe they differ. (lloyds).

Considering they only sold this to you last April I thought they would have explained and made sure you would be eligible for this, but as this was an ongoing med problem anyway I think you have a point here and maybe try to complain and reclaim on this.

Sorry to hear you have this horrible illness, a member of a family was diagnosed with this condition almost 2 years ago, and I know its not nice.