PPI Reclaiming Discussion part 4

di3004

worrygirl wrote: »

Hi Di3004 and all!!

I have just rang the new look customer care phone line (cost a bomb) and the woman said there is no record of me on there system. I think i had this card about 5 maybe 6 years ago and then they were financed by G E capital bank. Now they are not and are with another finance company.

does anyone know how to get hold a number or email or address to ask for a copy of my agreement from G E Capital bank?

Many thanks

Hi hun

You may find this interesting here as well:
http://www.fsa.gov.uk/pages/Library/Communication/PR/2007/015.shtml

Found this addess here, hopefully someone who have had issues with these will be able to confirm the address if this is not the correct one here: Good luck X

Name & Registered Office:
GE CAPITAL BANK LIMITED
6 AGAR STREET
LONDON
WC2N 4HR
Company No. 01456283

Turboman

kimpeck wrote: »

Could someone explain if I understand this correctly ....

The PPI added to the loan was £9387.03 but the monthly PPI payments were intially £73.30. This over 60 months is only £4380.

Why is there a £5000 difference ?

Thankyou

(reposted as requested)

Kimcheck

I don't have enough info--i need APR % & loan term in years.


HOWEVER--

PPI is usually only in force for the first 60 months--BUT you will be paying it FOR THE LENGTH OF THE LOAN (crafty lenders)

SO-your PPI Loan is £9387 and you pay £73.30 per month---so APPROXIMATELY

IF (say) your loan term was 25 years and APR% 8.13%(say)--then you would pay back £12,609 in interest as well as the £9387--ie a whopping £21,996 for a 5 year PPI policy of £9,387

IF (say) your loan term was 20 years and APR% 7.092%(say)--then you would pay back £8,205 in interest as well as the £9387--ie a whopping £17,592 for a 5 year PPI policy of £9,387

Turbo

LilacPixie

di3004 wrote: »

Hi there

Sorry to hear of what your going through here.

Have you ALL the paperwork/documents for this finance?

If you've not done so already, as I note you state they said you used a broker, I think maybe a Subject Access request (SAR) may confirm all this.

If this was over the last 6 years the SAR should supply all the data they have on you.

Someone else may possibly post up here with more useful ideas here but an SAR can be useful for this matter, you will find the template letter for an SAR on the thread with details, please post up if you require any further info here, good luck hun.;)

Thanks for the response Di.

I never used a broker, I called the company myself and made an appointment for finance. The company concerened have said i used a broker which i didn't unless they have brokers working in their own branch.

I have all the documents and i SAR'D them april 08 so also have copied of account notes etc.

di3004

LilacPixie wrote: »

Thanks for the response Di.

I never used a broker, I called the company myself and made an appointment for finance. The company concerened have said i used a broker which i didn't unless they have brokers working in their own branch.

I have all the documents and i SAR'D them april 08 so also have copied of account notes etc.

Hi hun
Thanks for confirming this to me.

Hopefully someone will post up with some ideas for you here, but having the docs help in your case to continue with this complaints, and I have also send you a private message in regards to this in its missed.;)

Good luck hunni
Di
X

Anne.Jade

bathgatebuyer wrote: »

Hi all - the £550 refund from Egg is been put in my account today. Remaining balance of the card is a little over £700 and with my council tax arrears payment from 05 due to end next month, I should be able to get rid of Egg by June!!!!

Hey Bathgate

I was really Eggcited to read your post, I hope it wasn't a yoke. You must be eggstatic. That certainly is egg on their face :rotfl: :rotfl: :rotfl:

Well done! x

hammersuk

question re hsbc and other policies i spose.

I sent off my two letters today, one for car finance and 1 regards to old hsbc loans.

My question is for the two hsbc loans i have a copy of a sales acknowledgement sheet i had to sign.

Reading it it says i understand i am signing for the loan, i have been told etc etc etc is covered, and a couple of other points.

Even though i was rushed into signing it and told basically if i didnt take the insurance i probably wouldnt get the loan at all, as i have signed this am i now destined for a failed claim?

I went in omn the grounds that i was made to beleive that i would not get the loan without it, that i wasnt ask about any exhisting illnesses and that it wasnt exdplained that i could get other quotes elsewhere.

What do you think? Have i stuffed myself or is there anyone else whos been lucky with hsbc that signed the sales acknowledgment?

i thought most agreements that are signed in person have some sort of agreement to terms so how comes people are still winning or are they not in those cases?

Anne.Jade

hammersuk wrote: »

question re hsbc and other policies i spose.

I sent off my two letters today, one for car finance and 1 regards to old hsbc loans.

My question is for the two hsbc loans i have a copy of a sales acknowledgement sheet i had to sign.

Reading it it says i understand i am signing for the loan, i have been told etc etc etc is covered, and a couple of other points.

Even though i was rushed into signing it and told basically if i didnt take the insurance i probably wouldnt get the loan at all, as i have signed this am i now destined for a failed claim?

I went in omn the grounds that i was made to beleive that i would not get the loan without it, that i wasnt ask about any exhisting illnesses and that it wasnt exdplained that i could get other quotes elsewhere.

What do you think? Have i stuffed myself or is there anyone else whos been lucky with hsbc that signed the sales acknowledgment?

i thought most agreements that are signed in person have some sort of agreement to terms so how comes people are still winning or are they not in those cases?

Hi Hammers

I think for the very fact that you were told you wouldn't get the loan if you didn't take the insurance, you have a very good claim, as that basically was a lie. I expect someone will come along shortly who can give you some advice.

kimpeck

Kimcheck

I don't have enough info--i need APR % & loan term in years.


HOWEVER--

PPI is usually only in force for the first 60 months--BUT you will be paying it FOR THE LENGTH OF THE LOAN (crafty lenders)

SO-your PPI Loan is £9387 and you pay £73.30 per month---so APPROXIMATELY

IF (say) your loan term was 25 years and APR% 8.13%(say)--then you would pay back £12,609 in interest as well as the £9387--ie a whopping £21,996 for a 5 year PPI policy of £9,387

IF (say) your loan term was 20 years and APR% 7.092%(say)--then you would pay back £8,205 in interest as well as the £9387--ie a whopping £17,592 for a 5 year PPI policy of £9,387

Turbo

Thankyou for your reply ..

The info as requested ...

Loan ammount = £47100 @ £367.78pm
PPI Amount =£9387.03 @ £73.30 pm

Total = £56487.03 @ £441.08 pm @ 8.45% for 300 months

**confused**

Other financial Information £9387.03 @ 8.14% APR ??????

nutmeg

hammersuk wrote: »

question re hsbc and other policies i spose.

I sent off my two letters today, one for car finance and 1 regards to old hsbc loans.

My question is for the two hsbc loans i have a copy of a sales acknowledgement sheet i had to sign.

Reading it it says i understand i am signing for the loan, i have been told etc etc etc is covered, and a couple of other points.

Even though i was rushed into signing it and told basically if i didnt take the insurance i probably wouldnt get the loan at all, as i have signed this am i now destined for a failed claim?

I went in omn the grounds that i was made to beleive that i would not get the loan without it, that i wasnt ask about any exhisting illnesses and that it wasnt exdplained that i could get other quotes elsewhere.

What do you think? Have i stuffed myself or is there anyone else whos been lucky with hsbc that signed the sales acknowledgment?

i thought most agreements that are signed in person have some sort of agreement to terms so how comes people are still winning or are they not in those cases?

Hi Hammers

just to let you know, i sighned the agreements on three of my loans, they said much the same as yours, but it did not make any difference to my claim (which i won) so going on your reasons for mis-selling as above i would put a claim in anyway, you will never know until you try.

good luck

Turboman

kimpeck wrote: »

Thankyou for your reply ..

The info as requested ...

Loan ammount = £47100 @ £367.78pm
PPI Amount =£9387.03 @ £73.30 pm

Total = £56487.03 @ £441.08 pm @ 8.45% for 300 months

**confused**

Other financial Information £9387.03 @ 8.14% APR ??????

SO--for your PPI SPI Loan of £9,387 (5 yr PPI cover)-you are going to pay £73.30 for 300 months(25 years) = £21,990