PPI Reclaiming discussion Part III

marshallka

pinknico wrote: »

Have received my letter from FOS regarding Egg basically saying it will be sent to an adjudicator next year, ok so it doesnt say next year but I am sure it wont be much sooner!!
The questions they have asked to see if aia entitled for it to be passed on quicker are:
Am I experiencing financial difficulty because of circumstances connected to my complaint?
Am I suffering from a serious iii health which makes it important to me to have my complaint resolved quickly?
Legal action is being threatened.

How long has your been with there now then Pinknico...

When did you submit this to the FOS??

dreamer33

Pinknico

Just wanted to thank you for a post of yours, can't really say why will pm you because you never know who is watching on here.xx

Calculator

marshallka wrote: »

Calculator

This is the method that Tiggrae used on here

If the loan is say £17000
PPI £4163
Repayments 281.25 x 160 months

To find the PPI element of the loan you then take the Loan and PPI and add them together being £21163 and then take the 4163 PPI and divide it by the 21163 which gives you a PPI element of 19.67%

You then take 19.67 of the repayments and this is what part of your repayments pays the PPI being 19.67 x 281.25 = 55.32

You then take the total loan including the interest which is 281.25 x 160 = 45000 and take 19.67% of that which is the PPI plus the interest on the PPI being £8851.15. This is the total amount of the PPI if the loan went to the full 160 months.

When you settle however although the settlement figure is broken down it does not break down the element of interest between interest on the actual PPI and interest on the loan. Also if the use of rule of 78 is used then this again throws the redress out using Tiggraes methods.

You would really need to know what the settlement would have been without the PPI and then with the PPI and then take one from the other to get the correct redress.;)

Thanks for that

Is there any posts re mis-selling refunds rather than Cancellations?--esp Consolidated Loans?

PS--Does this forum allow JPG,.xls,PDF attachments?

Turbo

dreamer33

Calculator wrote: »

Thanks for that

Is there any posts re mis-selling refunds rather than Cancellations?--esp Consolidated Loans?

PS--Does this forum allow JPG,.xls,PDF attachments?

Turbo

I use JPG for pics they upload ok, (think there jpg anyway)

LilacPixie

marshallka wrote: »

I wish it was not true but looking at everyone on here and from experience its that way I am afraid.:rolleyes:

Sorry to be the bearer of bad news Lilacpixie but if you are struggling financially then you could ask about the fast track system.

Not in financial difficulties, the loan itself naturally ends in July. I am so so looking forward to it finishing for forever and ever.

If/when the FOS uphold my complaint and order full refund then I think it will be a nice lump sum.

I think I will be looking at reclaiming PPI for other things too.

marshallka

Calculator wrote: »

Thanks for that

Is there any posts re mis-selling refunds rather than Cancellations?--esp Consolidated Loans?

PS--Does this forum allow JPG,.xls,PDF attachments?

Turbo

None that I can think of...

Dont know about the other question either, sorry...;)

marshallka

LilacPixie wrote: »

Not in financial difficulties, the loan itself naturally ends in July. I am so so looking forward to it finishing for forever and ever.

If/when the FOS uphold my complaint and order full refund then I think it will be a nice lump sum.

I think I will be looking at reclaiming PPI for other things too.

Good Luck then Liliacpixie...;)

Keep us posted:D

alfieg40

I sent a letter to Egg asking for my original signed agreement as per outlined in step one of claiming PPI back. I cannot see anywhere on the paperwork where i have agreed to take out a PPI policy, except for where it outlines it in the loan amount. I know that Egg have been hit recently with mis-selling PPI. I plan on using the template letter here to claim it back but i wanted to know which is the best option to use from the letter, it offers many scenarios. As far as i am concerned, i have not highlighted anywhere or ticked any box to confirm that i wanted PPI.

pinknico

marshallka wrote: »

How long has your been with there now then Pinknico...

When did you submit this to the FOS??

This was sent to them on the 15th November so not long.They have requested information from Egg and they have received this and now I just have to wait in the queue!!:D

di3004

Good morning everyone

Aww thanks so much to you all for leaving Happy Birthday messages for my birthday boy Daniel :A , he says a Big Thank You to you all.
:A :A :A :A :A :A :A :A :A :A

He has had a good day so far and an early finish with his work, he was awake for 6 am this morning.....:eek: , by half 8 he was doing some of his worksheets, which my uncle left for him...:D , done an hour of reading, and later he is out with the grand-parents and cousins, they are all going bowling, and we are hoping to take him somewhere on the weekend, the cinema maybe as he has been on about that for a while now.

Blimey loads of posts to get through......:eek: , I can see our Turbo, known on here as "Calculator" has been here regarding calculations, bless him he is such a lovely guy.;)

Again thanks for the lovey birthday messages.:A xxxxxxx