PPI Reclaiming Discussion part 4

amersall

Niggly wrote: »

I need the ppi premuium the amoun they actually paid for ppi each month above the loan amount if unknown then the apr would be acceptible.

The good news is that the letter says that they have upheld the claim, in which case they should follow the FOS guidelines on redress. i.e take off the ppi payments and refund with 8% and reduce payments by the amount of ppi for ongoing payments.

So the ppi/interet rate is needed so we can work out the comparable redress figs and untangle this mess.

N

Cheers again!!!!.
does this help?

from one of the ops previous posts.

The original monthly payment was £523.75 (£413.70 loan + £110.05 PPI).

amersall

Niggly,the op has not been back on the forum yet,hope they do so they see what you have done and they can take it from there.

amersall

kaladin wrote: »

Hi There, Do you have the e mail add
ress for the CEO of Blackhorse please? I am in exactly the same position as you x

[EMAIL="antonio.osorio@lloydsbanking.com"]antonio.osorio@lloydsbanking.com[/EMAIL]

beverleykim

Good morning everyone, and well done to recent wins!!

I wrote on Monday about receiving loan details from Lombard after submitting a SAR. This shows that I was paying PPI of £1614.74 on a £10,000 loan from 2001 for 60 months. This was added to the loan total at the beginning of the loan. I had one place to sign the Loan Agreement - and return, so Lombard will say that I agreed to this PPI. Anyway, I was only working 15 hours per week at the time and the loan terms and conditions state under 'who can be insured' that I must be in full-time employment - which obviously I wasn't. My husband was also self-employed so if they start on about 'breadwinner' policy etc., he too would not be covered.

My question is this - during the telephone conversation I had with Lombard, they must have asked me my salary at that time which would have shown that I only worked part-time hours. They have a note of the charity I was working for at that time on the Loan Agreement form so this was discussed.

So I am filling our my FOS questionnaire that I will be sending to Lombard asking for this PPI back on two grounds - front loaded interest added and only a part time worker.

I am unsure of the wording to use regarding the interest added at the start of the loan, and of course they will argue the case that I agreed to PPI when signing the loan agreement, so would like any comments I should be including on the questionnaire so that everything is covered before they get a chance to come back with some excuse or other?

Thanks

kaladin

amersall wrote: »

[EMAIL="antonio.osorio@lloydsbanking.com"]antonio.osorio@lloydsbanking.com[/EMAIL]

Many Thanks, E Mail on it's way :j

amersall

beverleykim wrote: »

Good morning everyone, and well done to recent wins!!

I wrote on Monday about receiving loan details from Lombard after submitting a SAR. This shows that I was paying PPI of £1614.74 on a £10,000 loan from 2001 for 60 months. This was added to the loan total at the beginning of the loan. I had one place to sign the Loan Agreement - and return, so Lombard will say that I agreed to this PPI. Anyway, I was only working 15 hours per week at the time and the loan terms and conditions state under 'who can be insured' that I must be in full-time employment - which obviously I wasn't. My husband was also self-employed so if they start on about 'breadwinner' policy etc., he too would not be covered.

My question is this - during the telephone conversation I had with Lombard, they must have asked me my salary at that time which would have shown that I only worked part-time hours. They have a note of the charity I was working for at that time on the Loan Agreement form so this was discussed.

So I am filling our my FOS questionnaire that I will be sending to Lombard asking for this PPI back on two grounds - front loaded interest added and only a part time worker.

I am unsure of the wording to use regarding the interest added at the start of the loan, and of course they will argue the case that I agreed to PPI when signing the loan agreement, so would like any comments I should be including on the questionnaire so that everything is covered before they get a chance to come back with some excuse or other?

Thanks

All you need to put is.
this ppi was in effect another loan and was added to the principal and you paid this over the term with interest, had the true cost of this been fully explained to you, and the fact you did not work enough hours to claim on the unemployment part of this cover (if you had life cover already,then put that as well),you would not have taken it.
You believe you were not given enough information regarding the true cost and exclusions of this ppi to make an informed decision.

amersall

kaladin wrote: »

Many Thanks, E Mail on it's way :j

You are very welcome x:D.

beverleykim

amersall wrote: »

All you need to put is.
this ppi was in effect another loan and was added to the principal and you paid this over the term with interest, had the true cost of this been fully explained to you, and the fact you did not work enough hours to claim on the unemployment part of this cover (if you had life cover already,then put that as well),you would not have taken it.
You believe you were not given enough information regarding the true cost and exclusions of this ppi to make an informed decision.

Thanks - you are so good with words, I find I just ramble on a lot!

amersall

beverleykim wrote: »

Thanks - you are so good with words, I find I just ramble on a lot!

I ramble too most times :D:D:D
Hope this "ramble" :rotfl: helps you xx.

ironfairy

:mad: can anyone please help me.I have seven loan agreements,but i only have the policy numbers for three of these,they are all the same policy numbers,is this correct ?
Will i be able to ask for a refund using only the agreement number,if not, how can i obtain the policy numbers,hoping someone can help me.cheers...