PPI Reclaiming discussion Part III

maxdp

marshallka wrote: »

Yes, they do abuse their positions.. especially if they know you have no recource with anyone... I can't really remember using a broker at all if truth be known and also the PPI was not optional. I want this rebate sorting now through the FOS and want to know that it is definately under the jurisidiction of them. I am getting annoyed with everyone involved here, including FOS too.

I don't blame you Marshallka. Nobody is answering your questions they just seem to blame another organisation or company etc etc. The goal posts seem to keep moving. Just as you seem to be getting near to a solution it shoots off into another direction.

What I do not understand is that in my unmentionables the insurance companies are never in trouble it is always the person who lent you the money and advised the insurance sale which again is the bank. Know it is not exactly the same but do you see my point.:eek:

maxdp

maxdp wrote: »

I don't blame you Marshallka. Nobody is answering your questions they just seem to blame another organisation or company etc etc. The goal posts seem to keep moving. Just as you seem to be getting near to a solution it shoots off into another direction.

What I do not understand is that in my unmentionables the insurance companies are never in trouble it is always the person who lent you the money and advised the insurance sale which again is the bank. Know it is not exactly the same but do you see my point.:eek:

Marshallka

Have sent you lots of info. Hope it is useful if so we can put it on here:rotfl:

Bracknellman

Hi Sorry im new to all this but just been reading all about Insurance etc.

Can i make a claim on my credit cards and claim back the insurance that i have been paying out? Does this also include store cards - even if i have stopped the insurance a few months ago?

I had a loan with Northen Rock as well which has got insurance on but i have stopped that a few months ago

maxdp

Bracknellman wrote: »

Hi Sorry im new to all this but just been reading all about Insurance etc.

Can i make a claim on my credit cards and claim back the insurance that i have been paying out? Does this also include store cards - even if i have stopped the insurance a few months ago?

I had a loan with Northen Rock as well which has got insurance on but i have stopped that a few months ago

Hi There
Why are you claiming them back. Did you willingly sign up for these insurances. Can you give us a bit more info:D

marshallka

maxdp wrote: »

I don't blame you Marshallka. Nobody is answering your questions they just seem to blame another organisation or company etc etc. The goal posts seem to keep moving. Just as you seem to be getting near to a solution it shoots off into another direction.

What I do not understand is that in my unmentionables the insurance companies are never in trouble it is always the person who lent you the money and advised the insurance sale which again is the bank. Know it is not exactly the same but do you see my point.:eek:

Do they claim through the broker or the lender in my case...I want the lender here...:D . My agreement is with the lender... that is who I want to claim against.:D

pinknico

marshallka wrote: »

Di, my agreement is with Firstplus but for the misselling of the PPI you have to claim through the person that sold the agreement and PPI to you.

PC World would have sold it and they do not have their own finance service so that is why it is an HFC agreement.

Pinkaddict actually stated here

does anyone know if I can still reclaim even though I didn't take it out directly with HFC.

If it helps we did the same thing on line and although we got it from pc world HFC sold us the finance.

maxdp

May find this useful

http://www.competition-commission.org.uk/inquiries/ref2007/ppi/pdf/prov_find_app_5_2.pdf

Sorry if it been here before:D

marshallka

This leaflet here about payment protection is from march 08 and from the Barclays and they say about the cooling off period of a single premium policy

The 30-day cooling-off period is from the start of the policy
or from the date you renew a policy you already have.
If payment protection insurance has been added to your
credit agreement, your credit agreement may have to be

rewritten if you cancel your PPI policy.


http://www.competition-commission.org.uk/inquiries/ref2007/ppi/pdf/prov_find_app_5_2.pdf





But this was from recent and from recent they should be not be part of the same agreement from what I have read anyway..


The reason I want to know is that we had no cooling off period of the PPI at all....

maxdp

marshallka wrote: »

Do they claim through the broker or the lender in my case...I want the lender here...:D . My agreement is with the lender... that is who I want to claim against.:D

I did not have broker so cannot answer that all I know is that mine are all with lender. Lloyds and HFC:D

marshallka

I have just done my unfair rebate of the PPI working not using Tiggraes method here but just wondered if anyone could put any input into it.

If the cost of the PPI was £4163 and not added as a loan and was for 60 months cover then this was approx £69.38 per month x 39 months = £2705.94 add the interest to that at 13.9% £376.12 = £3082.06 and take this off the total charge of £8851.15 and this shows a true cost of the PPI overcharge being £5769.09 less the rebate received £91.94 = £5677.15
Then there is the pro rata refund and its usually 78% they offer so ?????

Also there is statutory interest to go on top of that..



Tiggraes method of misselling and unfair rebate

Loan 17000
PPI 4163
Total Loan and PPI without Interest £21163
Repayments 160 x 281.25 = 45000
PPI element of the loan with interest 19.67%
39 repayments made to settlement
39 x (281.25 x 19.67%) = 2157.48
Total Cost of the PPI with interest is 19.67% of the loan total being £8851.15
Therefore 8851.15 (total PPI) – repayments made against the PPI 2157.48 – rebate against the PPI 91.96 =£6601.71 charged for a policy that was no longer of use to us.
Mine work out less but I need to know which is fair to use. I have looked at it logical i think...

Anyone on here any good with figures...