PPI Reclaiming Discussion part 4

Niggly_2

IANC wrote: »

One for Niggly.

Loan amount £21,000

Term 24 years

Premium £128.91 per month.

Monthly PPI premium £12.90

Total interest per month £66 on average.

I do not have the lump sum cost of the PPI, but can it be worked back from the above?

The loan was taken out Nov 2005.

What would you expect the calculation to be?

Refund of premiums to date with the interest charged plus 8% simple and then the loan restructured to day one but without PPI and therefore a lower monthly premium.

The balance oustanding on the loan is circa £17,800. I take it that a redemption figure would be lower as it would have the future PPI refunded?

Thanks in advance N :money:

Agreed with all of the above statements suspecting ppi around £2000 as ppi premium is 10% of repayment premium.

£12.90 x 72 months (November setlement) = £928.80
8% over 72 months £230.14

Future payments reduce by £12.90

:beer:

the_belgiumtrump

Hi belgium well the fraud one sounds as if it's just a standard fraud and keys protection the others sound like they could be ppi,the first thing to do is try to get hold of some paperwork,you need to know if you had ppi in the first instance,if you can't find paperwork ring the bank first and ask if you had ppi,these days some banks will do a claim over the phone which is a lot easier,here is a link with some more info and pdf's of fos reclaim forms to download,also in word,have a look and see if you fit any of the reasons for reclaiming and go from there, good luck.

I have online banking for all 3 of them and have checked my online statements and all say PPI except one which says "REPAYMENT OPTION PLAN" - what is that?

I have read over that and downloaded the FOS forms, is there any templates to send to the banks as im not sure how to professionally send them a claim.

The_Marksman

the_belgiumtrump wrote: »

I have online banking for all 3 of them and have checked my online statements and all say PPI except one which says "REPAYMENT OPTION PLAN" - what is that?

I have read over that and downloaded the FOS forms, is there any templates to send to the banks as im not sure how to professionally send them a claim.

to get you started, Look here for info and reasons for being miss-sold your ppi the template letters have been replaced with a consumer complaints questionnaire.

http://www.moneysavingexpert.com/rec...nsurance#step2

Once you have had a read though and have your reasons. You will need to fill in a consumer complaints questionnaire. Which I would download, have a read though and familiarise yourself with the questionnaire and its layout. The questionnaire can be found here

http://www.moneysavingexpert.com/rec...nsurance#step3

the main info you will need to complete the questionnaire is:

• Loan account number/numbers CC account number/numbers
• start date
• finish date
• and your reasons

then complete the form and send it off. If you ring bank or CC company they may have a ppi complaint line and can start your complaint for you over the phone but id get as much info ready before phoning them.

simples, hope that may help, good luck

cappo

amersall wrote: »

:eek::eek::eek::eek: what was that you were saying? :p:p:p:p
Am keeping a watchful eye on you two
Lorraine

Oh no we've been rumbled,it's a fair cop guv,nor

The_Marksman

cappo wrote: »

Oh no we've been rumbled,it's a fair cop guv,nor

its like being a young lad again, your parents go out and you decide to raid the drinks cupboard only to hear the key turn as they forget something! lol :rotfl::rotfl::rotfl::rotfl:

or having a sneak at your christmas presents! pmsl :rotfl::rotfl::rotfl::D

IANC

Niggly wrote: »

Agreed with all of the above statements suspecting ppi around £2000 as ppi premium is 10% of repayment premium.

£12.90 x 72 months (November setlement) = £928.80
8% over 72 months £230.14

Future payments reduce by £12.90

:beer:

Cheers Niggly

Would a % of the interest payment each month not be in respect of the PPI loan though?

cappo

The_Marksman wrote: »

its like being a young lad again, your parents go out and you decide to raid the drinks cupboard only to hear the key turn as they forget something! lol :rotfl::rotfl::rotfl::rotfl:

or having a sneak at your christmas presents! pmsl :rotfl::rotfl::rotfl::D

ha ha i've done that a few times before now lets have one now:beer:

The_Marksman

cappo wrote: »

ha ha i've done that a few times before now lets have one now:beer:

why stop at one! :rotfl::rotfl::rotfl::rotfl::rotfl:

cappo

The_Marksman wrote: »

why stop at one! :rotfl::rotfl::rotfl::rotfl::rotfl:

We'll do the rounds, call in and see di and lorraine and :Tempty there cupboards as well what do you think?

The_Marksman

cappo wrote: »

We'll do the rounds, call in and see di and lorraine and :Tempty there cupboards as well what do you think?

i think thats borderline burglary but in for a penny in for a pound and all that ! :rotfl::rotfl::rotfl::rotfl::j:rotfl::rotfl::rotfl::rotfl: