PPI Reclaiming Discussion part 4

di3004

BBB wrote: »

So by that I now owe £0.00?

If that was enough to cover the whole loan amount that was left to pay on the balance then yes.;)
So I take it that was the amount owing on your account then?

BBB

I'm sure it was as it says the loan would have been paid by now had I not missed the payments

di3004

BBB wrote: »

I'm sure it was as it says the loan would have been paid by now had I not missed the payments

Its possible.
Ask them for a breakdown in writing as well, this will show you what is what.;)

MattyA

di3004 wrote: »

Hi Matty

How frustrating, sorry to hear this.

Well I would then move on to the FOS and enclose the letter from Lombard that states this.
The FOS can still advise on the next best avenue where to take this, one of mine is through the underwriter/insurer instead and others on here have been advised of this direction.

Give the FOS another call next week, they will possibly advise that you send in all the copies of correspondence you received, and they will figure out on the next move.
There are ways around this.

Hopefully others who have been dealing with Lombard will post up and may have been in the same position as yourself here, and may have some useful advice but otherwise do continue with the FOS anyway - they will look into this for you.:)

Good luck.

Thanks di x

mollymoo96

hi again

Our case against tesco was initially upheld by the ombudsman beginning of august I only got an acceptance letter two weeks ago now I have got another one with the calcuation on it with an acceptance thing on it saying it will take another 8 weeks does it usually take so long.

IRGWS

Morning everyone,

My mum is trying to reclaim PPI on a previous loan she had. The loan was for £10,000 and the associated PPI was £2104.63. Welcome also added additional charges including Medicare 24 £50.00, Homecare 24 £125.00 and Medicare 24 Second Customer £50.00 (the loan was a joint one with my late father). My parents settled the loan early.

My mum received a letter from Welcome yesterday saying that they acknowledge the PPI was mis sold and have offered her £1238.06 plus an additional £100.00 compensation. The allege that of that total PPI, £2104.63, £1258.12 was refunded when the loan was settled early.
The paperwork includes a break down of the figures- I'll type it out below:

B. Amount of PPI added to loan £2104.63
C. Less Rebate of PPI (You may £1258.12
already had some money
back if you repaid the loan
early)
D. Amount of interest added. £315.47
due to PPI premium.
E. Amount of compensation due. £1161.98
before calculating 8%interest.

F. Amount of payments received. £250.50
towards the PPI premium and
interest since loan start date.
G. 8% simple interest on the £76.08
payments made towards PPI.
H. Total compensation due. £1238.06
(E+G).

I'm just confused with regard to point C, ie the rebate of PPI due to the loan being settled early. Does anyone have any thoughts or suggestions?

Thanks for your help.

di3004

mollymoo96 wrote: »

hi again

Our case against tesco was initially upheld by the ombudsman beginning of august I only got an acceptance letter two weeks ago now I have got another one with the calcuation on it with an acceptance thing on it saying it will take another 8 weeks does it usually take so long.

Well done Mollymoo.:beer:

I think they all have backlogs and have a job to keep up.

I think you will also receive extra interest for this too, waiting a further 8 weeks...........(I think).
Contact them and ask them to make sure, good luck.;)

di3004

IRGWS wrote: »

Morning everyone,

My mum is trying to reclaim PPI on a previous loan she had. The loan was for £10,000 and the associated PPI was £2104.63. Welcome also added additional charges including Medicare 24 £50.00, Homecare 24 £125.00 and Medicare 24 Second Customer £50.00 (the loan was a joint one with my late father). My parents settled the loan early.

My mum received a letter from Welcome yesterday saying that they acknowledge the PPI was mis sold and have offered her £1238.06 plus an additional £100.00 compensation. The allege that of that total PPI, £2104.63, £1258.12 was refunded when the loan was settled early.
The paperwork includes a break down of the figures- I'll type it out below:

B. Amount of PPI added to loan £2104.63
C. Less Rebate of PPI (You may £1258.12
already had some money
back if you repaid the loan
early)
D. Amount of interest added. £315.47
due to PPI premium.
E. Amount of compensation due. £1161.98
before calculating 8%interest.

F. Amount of payments received. £250.50
towards the PPI premium and
interest since loan start date.
G. 8% simple interest on the £76.08
payments made towards PPI.
H. Total compensation due. £1238.06
(E+G).

I'm just confused with regard to point C, ie the rebate of PPI due to the loan being settled early. Does anyone have any thoughts or suggestions?

Thanks for your help.

Well done on your mum's success :beer:, and for all your efforts too.;)

I am not good at calculations, but I'm sure someone will be here at some point today and check them out for you.

Good luck.

amersall

IRGWS wrote: »

Morning everyone,

My mum is trying to reclaim PPI on a previous loan she had. The loan was for £10,000 and the associated PPI was £2104.63. Welcome also added additional charges including Medicare 24 £50.00, Homecare 24 £125.00 and Medicare 24 Second Customer £50.00 (the loan was a joint one with my late father). My parents settled the loan early.

My mum received a letter from Welcome yesterday saying that they acknowledge the PPI was mis sold and have offered her £1238.06 plus an additional £100.00 compensation. The allege that of that total PPI, £2104.63, £1258.12 was refunded when the loan was settled early.
The paperwork includes a break down of the figures- I'll type it out below:

B. Amount of PPI added to loan £2104.63
C. Less Rebate of PPI (You may £1258.12
already had some money
back if you repaid the loan
early)
D. Amount of interest added. £315.47
due to PPI premium.
E. Amount of compensation due. £1161.98
before calculating 8%interest.

F. Amount of payments received. £250.50
towards the PPI premium and
interest since loan start date.
G. 8% simple interest on the £76.08
payments made towards PPI.
H. Total compensation due. £1238.06
(E+G).

I'm just confused with regard to point C, ie the rebate of PPI due to the loan being settled early. Does anyone have any thoughts or suggestions?

Thanks for your help.

Hi there and well done on this win.When you settle a loan early you get a rebate of ppi.Someone who is good with figures will help you with these when they come on.What was the start and settled date of loan? as these will be needed to make sure the figures you have been given is what is due.

PINKY189

Hi ginger,


Thankyou for yoiur reply, will give the nice lady at the fos a call tomorrow.

Defo let battle commence.