PPI Reclaiming Discussion part 4

halphy

jj10 wrote: »

Thanks Halphy and congrats on your win:T:T:T

Thansk ,I'll keep my fingers crossed for you xx

di3004

jj10 wrote: »

Good evening all
Hope your well.
Haven't been on for a wee while so just to update you. Received a letter from MBNA today asking for more time to investigate my complaint and I will hear something by the 27th August.
I also received my SAR paperwork from Barclays (just statements though) so I fired my first letter off (recorded delivery of course Di) so now it's wait and see.

JJ
PS Hope your ok Di and thanks for all your help:)

Hi JJ

Its good to hear from you :j

That's the way - recorded delivery LOL :D;).

Good luck to you too. X

Not too bad thank you, hope your okay too and your very welcome. X:)

STW27

di3004 wrote: »

Hi Steve and welcome

You are in the correct place, so not to worry.;)

I am not the one for calculations, but some on here will be happy to look through them for you at some point later or tomorrow, I will keep a check, if you've no response in regards of the calcs, I shall chase up on this for you.

However, I know its good to know what to expect back, but I don't think you actually require these to make a reclaim, and they should supply you with a detailed breakdown anyway if you request for them.

What you do in order to make a reclaim is:
Complete the FOS questionnaire (these are in replacement of the first template letter and issued by the financial ombudsman service).

Complete and send a copy to whoever sold and set up the policy.

Keep a copy as well in case you need to refer to this later on, this is also recommended by the FOS.

They have 8 weeks in full to respond with a decision - some will request for extra time.

And I would also post by recorded delivery - this is your proof of posting.

The FOS questionnaire you will find on link added below - further down the page as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Hope this helps, if you require help at any time, please just yell.
Good luck.;)

Hi Di,

Have all my figures and have the FOS questionnaire printed out so do need to fill this out and send to the people im claiming from with a letter? Sorry if its a daft question but not too sure how to start as in what to say to begin with ??

Regards

Steve

di3004

STW27 wrote: »

Hi Di,

Have all my figures and have the FOS questionnaire printed out so do need to fill this out and send to the people im claiming from with a letter? Sorry if its a daft question but not too sure how to start as in what to say to begin with ??

Regards

Steve

Hi Steve

Its not a daft question......;)

What you do is send the FOS questionnaire and if you done a letter as well, enclose that with the questionnaire and send to the ones your reclaiming from.

They then have 8 weeks to come back with some sort of decision.
Some ask for more time, this is fine.
If you hear nothing at all, not even a letter to confirm they are looking into it, then your in your rights then to complain to the FOS.

If you do not get a favourable decision, they do also sometimes give you another opportunity to write back to them again, maybe with further information, and they may enclose details of the FOS which is normally a leaflet of the FOS and how to complain to them.
So then you have a choice of normally writing back with further information, or complain to the FOS, but if they say its the "final decision" they should then defo enclose details of the FOS.

There is a complaints form on the FOS website (FOS complaints form) shown on the link below, you complete that and a copy of the final letter you receive from the business, and if you can also keep a photocopy of the Questionnaire you completed, enclose that as well, this makes it easier for the FOS to investigate and they say its quicker for them as well.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

The FOS Questionnaire is different to that of the FOS complaints form, many get confused with this.

If it comes to that you need to complain to the FOS, then the link above will take you to the FOS complaints form, (you will note at the bottom of that same page - they have added the PPI FOS questionnaire as well - but this you have already completed).;)

If you did not want to download and print the complaints form, you can ring the FOS and they will arrange to send you one through the post.

Hope this helps steve.:D Good luck.:)

amersall

robbedofmymoney wrote: »

right,

got my head around the figures,

to be accurate do you know when the payments changed to the higher level if so you can then add in the additional figures i'll put at the bottom.

so starting witht he original loan with ppi over 15 years.

your monthly element of ppi withthe 10.9% apr added works out to approx £19.01 per month you are paying for the ppi. Amersell is correct with here calcs without the interest.

so using the same principal 36 months x £19.01 = £684.36

8% simple on this until end of July would be approx £79.80

your monthly repayments will also need ot be be reduced by £19.01 for the remainder of your loan.



now the bit at the higher interest rate and monthly re-payments.

the ppi element would be an extra £1.81 per month. you will need to multiply this by the number of months at the higher repayments and then add to the total above.

the 8% on this works out at approx an extra £1 for 12 hogher payments so not a lot in the grand scheme of things.

i hope this helps but if you need anything else please let me know.

cheers, and good luck with your claim.

p.s. were you aware they are charging you interest on the broker fee.

Thanks for that x

amersall

bugsy161 wrote: »

Hi Amersall,
I am going to take on Lloyds again on behalf of my sister and brother in law who have had loans with them over the last 10 years that have been consolidated with new loans over and over again.
They have always had PPI with the loan as they believed it was not optional.
Do I need to send in a FOS questionnaire for each loan or just the latest one, as they have always consolidated the previous one.

Hi bugsy, you will need to put all loan account numbers and state that they were consolidated, they will do the workings out and you will get all ppi back on all loans less any rebate for each loan that was given back when they were consolidated. x isnt it nice to help somebody else? xx

amersall

robbedofmymoney wrote: »

you're welcome,

although if i was Steve i would question why his APR has gone up when interest rates have gone down since Sept 07. unless it was fixed for the first year or something.

It is the company he got the loan from,not sure who but i have a fp loan and have had 3 increases of interest in the past 18 months, as have all fp customers , and barclays boasted nearly 4 billion profit in the last 6 months.The rises were because "it was prudent for their business" they dont link to any base rate just whatever reason they see fit to use !!

Anna*_2-2

Good Morning,

I am looking for some advice. I sent Egg Loans a cheque for £1 and a template letter. Since I sent the cheque off I found the original agreement therefore I sent off the questionnaire and a SAR request. This morning I received a letter stating "as the account you refer to is now closed I have to inform you that Egg are under no obligation to comply with a request for a copy of the executed agreement under the Consumer Credit Act as we no longer have a contractual relationship relating to this account, nor are we seeking to enforce any agreement on the account. The right to be provided with this information from Egg Banking plc ended with the closure of the account. We are therefore returning the £1 payment you have sent in relation to this request".

Are they just annoyed with me that I have taken my complaint to the questionnaire stage and are throwing their toys out of the pram? I hope so! I'm new to all this, but I can now see how horrible these institutions really are.

robbedofmymoney

my long lost twin

robbedofmymoney

amersall wrote: »

It is the company he got the loan from,not sure who but i have a fp loan and have had 3 increases of interest in the past 18 months, as have all fp customers , and barclays boasted nearly 4 billion profit in the last 6 months.The rises were because "it was prudent for their business" they dont link to any base rate just whatever reason they see fit to use !!

that will explain it then, thanks,
they are robbers