PPI Reclaiming Discussion part 4

di3004

kkchick2009 wrote: »

Hi - has anyone ever heard of a company called Alabaster Limited? I've got a 2nd letter off GE Money saying that although we got a loan through first national - they "acted as a 3rd party" in arranging our loan with 1st Nat.

This is news to me - the address they give is in Jersey - I take it I need to do a SAR with 1st Nat then? I've searched for the company but the only one it comes up with is one that is now bust and was in Birmingham - any help would be gratefully received.

Hi there
There is a member her called Incipience, who have left many interesting posts in regards of reclaiming PPI from both lenders and brokers etc.

They apparently both have a part and responsibility in this sale.

I would write to the broker then and enclose a copy of the lenders letter, so they know you have already tried to reclaim to the lender and will prove what they have said, also if you still have the copy of your complaint/reclaim letter, enclose that as well, tell them you would like this investigated by them and expect to hear by 8 weeks - unfortunately yes its 8 weeks all over again.
Any problems, I would contact the financial ombudsman service here:
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

They may do this for you on your behalf, like they did with one of mine, then of course the response comes back to you from the broker.
See what they have to say.

You will find the SAR in the SAR thread with details, good luck.;)

mlucyminx

scrumcious wrote: »

Goodafternoon to everyone
I have today received letter from capital one to say they are not refunding ppi they sold me this over the phone apparently which i cant remember the limited version of the terms and conditions were explained over the phone, and they say the product is optional and this was made clear to me. I was given 30 days to cancel this policy free of charge but i did not do it.
Just wondering if i should go with second letter or will they stand there ground.
many thanks to you all.

Hi they did this to me too. Its bog standard reply hoping you will go away.

Mine now with FOS. Has been for months mind but I'm living in hope.

Don't just accept their answers. it doesnt cost you anything to go to FOS so if they have told you this is their final response, go to FOS, if not write to them again.

catinthehat1

Turboman wrote: »

Hi

I'm not proficient in legal things-but not bad with figures.

It seems to me that everything is as it should be--I think the wording
A full refund of the insurance premium of £5082.15 has been applied to your account along with the interest paid on the premium to date of £2540.20.

is misleading--I (IMO) think they meant to say

A full refund of the insurance premium of £5082.15 has been applied to your account along with the interest accrued on the premium to date of £2540.20.

So (imo), your account has been put back as if only the original Cash Advance was in operation. Additionally, they have refunded the premiums attributed to PPI + 8% interest.

No-you can't get the £5082.15+£2540.20 as you haven't actually paid that much--YET--they are actually deducting it from what you currently owe.

In order to predict what your new monthly payment should be--multiply the current monthly payment by the ratio of Original Cash Advance:Total of Cash Advance+PPI SPI

ie--this is an example
say-Cash Advance £25,500
say-PPI SPI £5,068
TOTAL LOANS £30,568

Calculate the ratio 25,500:30,568 by dividing 25,500 by 30,568 = 83.42%

So out of your total monthly premium 83.42% went against your Cash Advance Loan and 16.58% went against the PPI SPI loan.

SO--if your current monthly payment were £325 (say)--your new monthly payment should be 83.42% of £325 =£271.11

Ask again if any clarification needed

EDIT--found your old post

Loan 25,500
SPI Loan 5,068
Term 300 mths
Started July 2004

If you give me the start APR% and the Start Payments (both) & Current Monthly Total Payment (and APR% if you have it)--I'll check it in more detail on my Amortization Model just to be sure on that "interest wording"

Turbo

Thanks a lot Turboman - that is exactly what FP have said to us today, they admitted that they have worded the letter incorrectly, and I think we understand now - so although we haven't actually got ALL the money we had hoped, we have had the £5K + £2K taken off our loan, which will make a big difference, and our payment will be £271 - still cross that they havent decreased our monthly payments to reflect the interest rates - I have been on the FP complaints website - and think I will write a letter to complain and see what happens - So thankyou to all those people - too many to mention who have helped us get our money back:beer:

mlucyminx

Hi everyone,

Wow! this forum moves so fast it takes me hours to read through what I have missed.

Can any one offer any comments please.

I e-mailed FOS adjudicator today to ask about my ppi with barclaycard. They are contesting under time statute barred.

Her reply was the following (Edited version)

I can confirm that Barclays have challenged whether or not we can consider your complaint. The matter is currently being considered, and your complaint will be progressed, as soon as the matter has been resolved.

Now I got the same sort of reply when I e0mailed on 7th January.

Would you consider this good or bad?

Would they have already wrote back and told me its a no-go?

I know no-one can give a definate answer to this but I just wondered if anyone else had been in a similar situation.

Thanks

maxdp

mlucyminx wrote: »

Hi everyone,

Wow! this forum moves so fast it takes me hours to read through what I have missed.

Can any one offer any comments please.

I e-mailed FOS adjudicator today to ask about my ppi with barclaycard. They are contesting under time statute barred.

Her reply was the following (Edited version)

I can confirm that Barclays have challenged whether or not we can consider your complaint. The matter is currently being considered, and your complaint will be progressed, as soon as the matter has been resolved.

Now I got the same sort of reply when I e0mailed on 7th January.

Would you consider this good or bad?

Would they have already wrote back and told me its a no-go?

I know no-one can give a definate answer to this but I just wondered if anyone else had been in a similar situation.

Thanks

Hi Mlucyminx (love your name)

If they cannot come to an agreement it will then go onto the Ombudsman who will mediate the case is what I am guessing. Di has had a similar case not with Barclaycard but Ombudsman decision so am sure she will give an opinion.

Good Luck I also have 3 loans with Barclaycard and PPI on a Barclaycard so please let us know how you get on.;)

mlucyminx

maxdp wrote: »

Hi Mlucyminx (love your name)

If they cannot come to an agreement it will then go onto the Ombudsman who will mediate the case is what I am guessing. Di has had a similar case not with Barclaycard but Ombudsman decision so am sure she will give an opinion.

Good Luck I also have 3 loans with Barclaycard and PPI on a Barclaycard so please let us know how you get on.;)

Thanks for your comments.

Will keep you posted on outcome.

Seems to have been going on for ever though. Complaint been with FOS since about september.

Good luck with your claims.

pebbles88

Hi all,

just wanted to say its so lovely to catch up on this thread, and read of all the success stories!!

Good luck and congrats to everyone :T :T

markandmarion

Hi Di3004,
Got Cheque in post today from Loans.Co.Uk for £ 2685.00 full P.P.I plus Interest.After 2 Months of nonstop phoning them we have finaly managed to get our Money back from them.
Cheque in Bank as we have heard they are going into Liquidation ,Will not fly the Flag till it clears !You never know.
Thank you Martin for this site which I read every day to every one keep fighting after all its our Money.

Will keep you posted on Black Horse P.P.I.

Thanks a Lot

di3004

mlucyminx wrote: »

Hi everyone,

Wow! this forum moves so fast it takes me hours to read through what I have missed.

Can any one offer any comments please.

I e-mailed FOS adjudicator today to ask about my ppi with barclaycard. They are contesting under time statute barred.

Her reply was the following (Edited version)

I can confirm that Barclays have challenged whether or not we can consider your complaint. The matter is currently being considered, and your complaint will be progressed, as soon as the matter has been resolved.

Now I got the same sort of reply when I e0mailed on 7th January.

Would you consider this good or bad?

Would they have already wrote back and told me its a no-go?

I know no-one can give a definate answer to this but I just wondered if anyone else had been in a similar situation.

Thanks

Hi there

I would not say this was bad, it seems this has been moved on, mine for example is about LLoyds TSB credit card ppi, it was with a caseworker/adjudicator to start, now moved on to the adjudicator that works closely with the ombudsman, so if LLoyds still do not agree to uphold again and the FOS believe it should be the final decision will be with the ombudsman himself.

Hope this helps hun and good luck, I'm sure it will all be okay.;)

di3004

pebbles88 wrote: »

Hi all,

just wanted to say its so lovely to catch up on this thread, and read of all the success stories!!

Good luck and congrats to everyone :T :T

Hi Pebbles, what a lovely comment,I am sure all here appreciate this, thank you.:beer: :T , and all the very best to you as well hunni. X;)