PPI Reclaiming Discussion part 4

lindah54

di3004 wrote: »

Hi there

I too had a loan with Nemo and in fact 2 loans, the first one of the ppi was mis sold and I had to deal with the broker for that one, and again mis sold on the loan advance of the PPI..which was those of Nemo I had to deal with.

I was successful with both, but it did not work out like they have dealt with yours.

My suggestion would be to either wait to see if anyone else has some advice on here for you, or you could try by ringing the financial ombudsman service (FOS) as soon as you can during office hours, explain the situation and hopefully they may have some answers on this one for you.
I am baffled to be honest.

Fingers crossed with this, please let us know how you get on.

Cheers.:)

Thanks i will give them a call tomorrow to get some help. To be honest i dont want to lose out on what i have already been given, may be better to cut and run. I will post on here tomorrow what i find out. Thanks again

di3004

lindah54 wrote: »

Thanks i will give them a call tomorrow to get some help. To be honest i dont want to lose out on what i have already been given, may be better to cut and run. I will post on here tomorrow what i find out. Thanks again

Yes I know what you mean, and its best to check with these matters first, hopefully they will be able to at least advise you on this, good luck.;)

polkadot

Will do Di

mollymoo96

Great news fos have up held my complaint ppi paid 3995 single premium . first payment in dec 2004 can any one tell me how much interest we a due

Kate*_2-2

Hello
I sent my claim in December and finally after chasing it got them to reply in March to say that they were sure we were aware of all the details but would refund the PPI out of goodwill :j- However - we fell into arrears with the loan (actually only the last instalement) and it was passed onto TRITON. My husband repaid the loan to them- (it was a joint loan) but RBS are saying they are unable to issue the cheque to us as the loan is still in arrears. We have called Triton almost 10 times:mad: and it turns out that they actually owe US £10! But, despite many calls have not credited this to us , (last said a cheque was issued on 28th May) or informed RBS that the loan is settled. Every week RBS call me to ask if I want the cheque paid to Triton but I have asked them to hold onto it as I don't want to lose it! I do have an account that is in arrears with NatWest but Triton said it shouldn't make any difference to us getting our money back? I have today contacted the FOS to try to resolve this. Has anyone else had trouble getting the money back? I will update what happens when FOS receive forms.
Thanks

robbedofmymoney

mollymoo96 wrote: »

Great news fos have up held my complaint ppi paid 3995 single premium . first payment in dec 2004 can any one tell me how much interest we a due

hi,

i can work it out for you but first i need a little more information.

how long was the loan for
how much each monthly payment for ppi was (if known)
what your interest rate for the loan was
how long the loan ran for, if settled early how much of the ppi was rebated.

cheers

mollymoo96

thanks rob

Loan 20.000
ppi 58 per month
think rate was about 8%
took Loan out Feb 2005 settled last year in June rebate only £300

robbedofmymoney

mollymoo96 wrote: »

thanks rob

Loan 20.000
ppi 58 per month
think rate was about 8%
took Loan out Feb 2005 settled last year in June rebate only £300

assuming the £58 included the interest
you should be looking to get back the following

52 payments of £58 = £3074
then you get 8% simple interest on this which totals approx £799

they will then do another calculation where they take from your original premium the rebate of £300 and then also deduct the ppi you have paid (as they are giving you this back) without the interest. i would imagine the original premium was approx 4k to start with on a 20k loan. so 4000/term of loan (assuming 7 years)x 52 will give you the premium without interest you have paid. £2,476

so there would be a difference in settlement had the ppi not been added of approx 4000 - 2476 - 300 = £1224, you should then get 8% simple on this which is an additional £98 (approx)

so in total approx figure would be

3074 + 799 + 1224 + 98 = £5195

i have made a couple of assumptions so if wrong you can insert the correct numbers, the only one that would change is the final amount for settlement the 8% on this is not too much so you shpould get a good idea of whats what

i hopr this helps

well done on your success

mollymoo96

thanks really appriciate it

di3004

mollymoo96 wrote: »

Great news fos have up held my complaint ppi paid 3995 single premium . first payment in dec 2004 can any one tell me how much interest we a due

Wow, that is fab, well done to you.:T:beer::j