PPI Reclaiming Discussion part 4

carrfarmer

loan amount £4650
ppi £492.90
APR 8.1%
charge for credit £642.66
total payable £5785.56
36 monthly installments

This is a loan i had with Northern Rock in 2002.I am going to claim back the ppi as it was misold to me as i already had a private insurance that would cover any payments.
my question today is do i claim back the £492.90 then put on the 8.1% i was charged at the time and then the 8.00% that would be awarded if case went to court............or can i only claim the interest at 8.00% on the 492.90.

many thanks colin

di3004

carrfarmer wrote: »

loan amount £4650
ppi £492.90
APR 8.1%
charge for credit £642.66
total payable £5785.56
36 monthly installments

This is a loan i had with Northern Rock in 2002.I am going to claim back the ppi as it was misold to me as i already had a private insurance that would cover any payments.
my question today is do i claim back the £492.90 then put on the 8.1% i was charged at the time and then the 8.00% that would be awarded if case went to court............or can i only claim the interest at 8.00% on the 492.90.

many thanks colin

Hi Colin
Good luck with this.

I would reclaim for all you have paid in PPI, if they admit to mis selling then you should be entitled to every penny you have paid, plus interest and interest of 8% of what a court would award for being deprived of your money.

They may not admit to the mis selling and offer you a goodwill payment which would maybe then what you have stated above, but you do not have to write the amounts on the reclaiming letter, they should provide these to you in written details if successful or you request for them.

Check here on a thread posted by MAXDP on how the FOS calculates PPI refunds, this should give you an idea, good luck.
http://forums.moneysavingexpert.com/showthread.html?t=1596473

Di

ADAMESKI

Hello,

Ive been trying to rack my brains regarding the loan that I took out back in 2003 with EGG and cannot remember how I applied. I have a sinking feeling that my application may have been online, but also remember speaking to an operator also.

At the time I was not made aware that it was possible for me to locate the insurance elsewhere and a much cheaper premium due to my inexperiance with money issues. I have sent my letter, back into EGG confirming this and am anticipating a big No-No from them in reply.

Am I kidding myself that they may be willing to pay out , when I possibly ticked the PPI box online after advise given from a phonecall.

Also is there any tips or advice on how I should advance once I get back the letter stating I applied online so they will not uphold my Claim. My loan will run for another two year and the PPI payment plus Interest, would clear the last two years I have to pay.


Thanks for reading and any advice would be greatly appreciated.

Adam B

Debt_Cruncher_2

Hikui wrote: »

Hi again folks

I posted last week about progress on my claim - RBS had been in touch to ask for more information just as the 8 weeks was about to run out. I sent the information off to them on Thursday or Friday and was surprised to get their response this morning!

The letter basically pointed out that I had no case etc etc, which I was expecting; what I wasn't expecting was a 'goodwill gesture' of £750. So, do I take the safe money now OR press on with the next stage? I think i'm leaning towards the latter at the moment but wondered what you guys would make of it

You always have a case when it comes to a PPI claim. The average claim is around 1800 - 2000. Ultimately you should be able to claim back every single penny you have ever paid in PPI also you should get 12% on top of the the final settlement as compensation for being miss-sold the product in the first place. I have been in that business for 7 years now and no matter what Bank it is they will allways argue your claim because at the end of the day they dont want to pay out. You should have allready sorted this out, The claims i deal with are guarenteed to be settled within 7 weeks. Keep going and dont give up with them and you will be laughing. :rotfl:

Debt_Cruncher_2

ADAMESKI wrote: »

Hello,

Ive been trying to rack my brains regarding the loan that I took out back in 2003 with EGG and cannot remember how I applied. I have a sinking feeling that my application may have been online, but also remember speaking to an operator also.

At the time I was not made aware that it was possible for me to locate the insurance elsewhere and a much cheaper premium due to my inexperiance with money issues. I have sent my letter, back into EGG confirming this and am anticipating a big No-No from them in reply.

Am I kidding myself that they may be willing to pay out , when I possibly ticked the PPI box online after advise given from a phonecall.

Also is there any tips or advice on how I should advance once I get back the letter stating I applied online so they will not uphold my Claim. My loan will run for another two year and the PPI payment plus Interest, would clear the last two years I have to pay.


Thanks for reading and any advice would be greatly appreciated.

Adam B

Apparantly Egg had a fire some time ago which destroyed most of there paperwork. phone them and request a copy of your agreement ON PAPER If they cant provide you with a copy of your agreement theres a good chance they dont have it. Now in an British court of law the creditor MUST HAVE a copy of the ORIGINAL AGREEMENT to legaly enforce payment from you.

tiff25

hi just wondered if anyone can help me im quite confused by all this. Today i received a letter from cardif pinnacle saying they are refunding me some money because they increased my ppi premiums last year or something? any way this is ppi for my mortgage now i didnt even know i had it so im wondering is this ttype of ppi something i reclaim or is mortgage ppi something that is needed. I have had my mortgage since 2005 so i must have paid a fair amount of money in that time. How do you know if you have been miss sold it sorry i sound so dense i really havent got a clue?

di3004

tiff25 wrote: »

hi just wondered if anyone can help me im quite confused by all this. Today i received a letter from cardif pinnacle saying they are refunding me some money because they increased my ppi premiums last year or something? any way this is ppi for my mortgage now i didnt even know i had it so im wondering is this ttype of ppi something i reclaim or is mortgage ppi something that is needed. I have had my mortgage since 2005 so i must have paid a fair amount of money in that time. How do you know if you have been miss sold it sorry i sound so dense i really havent got a clue?

Hello there

I received one as well and so have Marshallka, as we are also with Pinnacle.
Did you notice a monthly increase over the last year? That actual amount you was paying over is what you will receive back.

This was something the FSA I think it was had suggested rising for short time but only for a temporary amount of time, so you should receive all they owe you what you have overpaid in that time.;)

They should have sent you a breakdown. X

amersall

Debt_Cruncher wrote: »

Apparantly Egg had a fire some time ago which destroyed most of there paperwork. phone them and request a copy of your agreement ON PAPER If they cant provide you with a copy of your agreement theres a good chance they dont have it. Now in an British court of law the creditor MUST HAVE a copy of the ORIGINAL AGREEMENT to legaly enforce payment from you.

sorry but you are wrong
http://www.moneysavingexpert.com/news/loans/2009/12/high-court-ends-debt-avoidance-loophole

lucieloo

hi i have received a response from my brokers today and i dont know what to do next. it is too long to type is there anywayi can scan it on here?

amersall

lucieloo wrote: »

hi i have received a response from my brokers today and i dont know what to do next. it is too long to type is there anywayi can scan it on here?

just do it as you did for fpc site