PPI Reclaiming Discussion part 4

di3004

SirK wrote: »

With regards to the questionaire, when I raised the complaint to Yorkshire Bank they sent me a similar questionaire to complete to allow them to investigate this, would you recommend completing another?

Also I've not yet had a final answer from the bank but I've had 4 letters (one a month) stating they are still investigating this and will be back to me in time. The reason I now want to go to the FOS is because it's well outside the regulated 40 working days to resolve a complaint and I feel they are stalling for time.

Thanks for the info

Hi there

Its up to you if you want to send another questionnaire, but the one you already sent should be appropriate, do you have a copy.

If you do get to complain to the FOS though, do not get the complaints questionnaire confused with the payment protection insurance questionnaire.;)

The usual timescale is that of 8 weeks for a reclaim investigation.

I would write and ask them to reconsider, and any further info you may have give them as well, then in the final letter they should enclose details of the FOS/Leaflet.

Good luck.

balanagdara

amersall wrote: »

It doesnt matter if the loan is closed, you can still claim mis sell if you have good reasons. If you win mis sell then your refund will be less any rebate that they gave you when the loan was settled and you will get all ppi paid to date back. Good luck and keep us posted.

Hi,

Thanks for your reply, i will go ahead and do the further steps and also i have any questions i will come back to this again. Meanwhile can I have the address to where I have to send the complete filled in questionniare form. As I haven't find the address on the questionniare from.

Thanks and Regards
Balanagdara

amersall

balanagdara wrote: »

Hi,

Thanks for your reply, i will go ahead and do the further steps and also i have any questions i will come back to this again. Meanwhile can I have the address to where I have to send the complete filled in questionniare form. As I haven't find the address on the questionniare from.

Thanks and Regards
Balanagdara

look here.
http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&cid=1210607166846&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateA2
You can do this online or telephone.Good luck with this and please keep us posted.

Mikey1414

Hello,

Can anyone please assist me - it looks like the FOS has upheld a PPI complaint I have with First Direct ( a Loan taken out on 2000) - now RBS - however I am trying to work out how much I might receive back in payment - the terms against that taken out are as follows:

Loan Amount - £23,196.00
Period - 5 years
Monthly Payment - £386.60
APR - 9.8%
Payment Protection Plan Total - £2,446.59

Loan paid off early - after 6 months - Amount to settle the agreement £20,489.80, this less rebate of interest £3,309.02, less rebate of PPI £1,704.59 - settlement figure = £15,476.19.

Any assistance you can give very much appreciated.

VMT,

Mike

amersall

Mikey1414 wrote: »

Hello,

Can anyone please assist me - it looks like the FOS has upheld a PPI complaint I have with First Direct ( a Loan taken out on 2000) - now RBS - however I am trying to work out how much I might receive back in payment - the terms against that taken out are as follows:

Loan Amount - £23,196.00
Period - 5 years
Monthly Payment - £386.60
APR - 9.8%
Payment Protection Plan Total - £2,446.59

Loan paid off early - after 6 months - Amount to settle the agreement £20,489.80, this less rebate of interest £3,309.02, less rebate of PPI £1,704.59 - settlement figure = £15,476.19.

Any assistance you can give very much appreciated.

VMT,

Mike

Hi there and well done on your win :j:j
Robbedof is good with these calculations and i am sure he will be along to work this out for you.

mrsdunny207

Hi, I'm a newbie looking for some advice please.

My husband had a Firstplus load taken out in 2000 (before I knew him and sorted out his finances)

Because he didn't have his original paperwork and the loan was more than 6 yrs old he decided (against my advice) to try and use an agency to chase a refund on the PPI.

He has had a reply from the company to say Firstplus have referred the complaint to the original broker (no surprise there but my husband thought he'd got the loan direct from firstplus not a broker) who were freedom finance who have now ceased trading...

The loan was quite a significant amount £35k and in addition to the PPI my husband also ended up paying a huge settlement figure / charge to pay the loan off early when he restructured all his finances.

Given the complicated circumstances what are our next steps (if any)

Thanks for any suggestions!

robbedofmymoney

Mikey1414 wrote: »

Hello,

Can anyone please assist me - it looks like the FOS has upheld a PPI complaint I have with First Direct ( a Loan taken out on 2000) - now RBS - however I am trying to work out how much I might receive back in payment - the terms against that taken out are as follows:

Loan Amount - £23,196.00
Period - 5 years
Monthly Payment - £386.60
APR - 9.8%
Payment Protection Plan Total - £2,446.59

Loan paid off early - after 6 months - Amount to settle the agreement £20,489.80, this less rebate of interest £3,309.02, less rebate of PPI £1,704.59 - settlement figure = £15,476.19.

Any assistance you can give very much appreciated.

VMT,

Mike

you should be looking to get back approx the following

2446 - 1704 = 742

so £742 + 8% simple interest from 2000

8% simple would be approx £588

so total refund should be approx £742 + £588 = £1,330

well done on youe success.
:beer:

Turboman

Mikey1414 wrote: »

Hello,

Can anyone please assist me - it looks like the FOS has upheld a PPI complaint I have with First Direct ( a Loan taken out on 2000) - now RBS - however I am trying to work out how much I might receive back in payment - the terms against that taken out are as follows:

Loan Amount - £23,196.00
Period - 5 years
Monthly Payment - £386.60
APR - 9.8%
Payment Protection Plan Total - £2,446.59

Loan paid off early - after 6 months - Amount to settle the agreement £20,489.80, this less rebate of interest £3,309.02, less rebate of PPI £1,704.59 - settlement figure = £15,476.19.

Any assistance you can give very much appreciated.

VMT,

Mike

Hi Mikey

Your figures re Loan & Premium & APR don't tally

What was TOTAL LOAN INCL PPI PREMIUM?

What was TOTAL MTHLY PREMIUM INCLUDING PPI AS WELL ?

IS 5 yrs & 9.8% right?

Don't think previous answer right btw

Turbo

Turboman

Hi folks

You all ok?

Turbo

amersall

mrsdunny207 wrote: »

Hi, I'm a newbie looking for some advice please.

My husband had a Firstplus load taken out in 2000 (before I knew him and sorted out his finances)

Because he didn't have his original paperwork and the loan was more than 6 yrs old he decided (against my advice) to try and use an agency to chase a refund on the PPI.

He has had a reply from the company to say Firstplus have referred the complaint to the original broker (no surprise there but my husband thought he'd got the loan direct from firstplus not a broker) who were freedom finance who have now ceased trading...

The loan was quite a significant amount £35k and in addition to the PPI my husband also ended up paying a huge settlement figure / charge to pay the loan off early when he restructured all his finances.

Given the complicated circumstances what are our next steps (if any)

Thanks for any suggestions!

Hi there, the company you are using have to wait to get a reply from the broker, this is what happens. Just so you know, If the loan is still running, the company you are using will charge you a fee on the whole of the ppi amount so their % will be on the whole ppi you get back and not just what is refunded to you, ie the monthly ppi payments made to date. You may find that you will owe the company when you win mis sell. If the loan is settled, then they want the % again of the whole ppi and you may get some back.I really wish your hubby had listened to you, and did this his self, all the company will do is what you can do your self for the price of a couple of stamps. People, myself included have won with fp and all it took was 1 letter (2 if it was brokered)
This is a no brainer, front loaded ppi are a rip off and 99% of these are upheld by fos, if it goes that far. People who have used companies are then coming on sites like this asking for advice (not having a go here) you must ask yourself the question "what are we paying the company for"?. This to them is money for old rope, with you not having the agreement you could have asked fp for this for £1 and found out who the broker was. There was a poster yesterday, who is paying a company and has done most of the ground work his self and still the company have a cheek to send a bill.