PPI Reclaiming Discussion part 4

emmakirks

Turbo,

Sorry, figures are as below:
1)-Cash Advance Amount (£35,000)/Original mthly pymt(£327.80)/original interest %(7.9%)/Date of agreement(July 05)/No of months of loan (15yrs)
2)-PPI Loan amount(£8571.50)/Original monthly payment(£80.28)/original(7.9%) % So total repayment for loan and ppi was at start of term £408.08 @ 7.9%
Current monthly payment 426.88 in total at 8.7%.

Hope this clarifies.

Thanks, Emma

di3004

bernice wrote: »

Hi Everyone.
I have just had a letter from the FOS Saying that they upheld my claime for missold ppi. so i am awaiting a calculation breakdown of payments due and the FOS said they need to pay me £200 compensation. MBNA who under write A&L CC originally disagreed about the misselling.
Has anyone else had dealings with MBNA or A&L CC.
Bernice.

Bernice (love that name)......:A

Great news :T :T :beer: .

There are many on here who have had dealings with these, also check this out on the success thread, all the best to you.;)

Di
X

maxdp

Di PM you.

di3004

maxdp wrote: »

Di PM you.

Thank you Max and pm'd you back......:D X

Turboman

emmakirks wrote: »

Turbo,

Sorry, figures are as below:
1)-Cash Advance Amount (£35,000)/Original mthly pymt(£327.80)/original interest %(7.9%)/Date of agreement(July 05)/No of months of loan (15yrs)
2)-PPI Loan amount(£8571.50)/Original monthly payment(£80.28)/original(7.9%) % So total repayment for loan and ppi was at start of term £408.08 @ 7.9%
Current monthly payment 426.88 in total at 8.7%.

Hope this clarifies.

Thanks, Emma

Thats better-lol

Will look at this around 9:00am tomorrow

Turbo

chelsea15

thankyou for your useful comments i really dont know where to start do i use one of the templates and write to the northern rock or to pinnacle insurance.please any advice would be gratefull

di3004

chelsea15 wrote: »

thankyou for your useful comments i really dont know where to start do i use one of the templates and write to the northern rock or to pinnacle insurance.please any advice would be gratefull

Hi Chelsea

Give me a few mins I will post up what you need to know.....in detail.;)

di3004

Hi again Chelsea

I take it then you still have the agreements?

Here is a link here with some useful PPI information
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
You will also find a template letter, and reasons of how PPI was mis sold to people, if any of those reasons apply to you add them on the letter, if you can try to use your own words, but adding your own reasons is the main thing.

They have 8 weeks to respond, if your not successful first time round, then write again, keep on at them until you receive the final response, in the final response they should enclose details of the Financial ombudsman service (FOS) if your still not satisfied with their response in this matter.

Post by recorded delivery.

I would write to all parties involved, good luck and post anytime you require any further help.;)

SEVERNCYDER

SEVERNCYDER wrote: »

You are not on your own with this. I am still awaiting my PPI claim on LTSB Credit Cards to be allocated to a FOS Adjudicator and the FOS acknowledged receipt of my claim on 5th January 2008, nearly 14 months ago. I gave them a nudge by e-mail in July 2008 and again in January 2009. All i got was the standard " thankyou for your patience etc.". Well like you , i suspect, i am rapidly running out of patience with an official system that seems to have a very "hit or miss" element to how quickly your case is dealt with !.:mad:

I chased the FOS up again on 6th March. What i actually asked was, "has my case been passed to an Adjudicator yet because i have been waiting for 14 months". This was their e-mailed reply.
I refer to your email.

Your complaint is still waiting to be passed to one of our adjudicators
who specialise in payment protection insurance-related complaints. Due
to the nature of the complaints considered, most consumers are in a
similar situation, in that they are suffering significant financial
hardship due to the inability to pay loans/bills or termination of their
claim. For this reason, and to be fair to all consumers, we try to
allocate complaints to adjudicators on a date basis. It is very rare
that we deem a consumer's circumstances to be such that they warrant the
complaint being moved ahead of others with similar difficulties.

I apologise for the delay in assessing your complaint; however, we will
keep you informed of progress. Once your complaint is passed to an
adjudicator, they will contact you directly.
Now then, has anybody out there had a case with theFOS since 5th Jan.2008 when they first had mine, that has been dealt with. I wonder if the extra staff taken on by the FOS was to send out thousands of standard letters/e-mails of the type i have received.

Turboman

]

Feeding above into my spreadsheet calculators and taking a few educated guesses on the interest rate/pymt increases --after 44 payments (1/3/2009)we have the following figures:

Loan of £35,000 @ 7.9% initially (AIR 7.604%) over 180 months from 1/7/2005

Balance of loan remaining=£29,790

PPI Loan of £8,571 @ 7.9% initially (AIR 7.604%) over 180 months from 1/7/2005

Balance of loan remaining=£7,725
Total payments made 44 @ 81.18(average) = £3,600


SO--I would expect:

a)-the new loan arrangement would be the balance of the £35,000 loan (£29,790) payable over 136 months (180-44) at £342 pm (this is the new £426 pm apportioned in the ratio 80.323 (35,000/43,571=80.32%)

b)-the balance of the PPI loan of £7,725 is written off

c)-you receive a cheque for the PPI pymts and 8% interest on those.--Pymts=£3,600 + 8% of each pymt from paid date to now = £513---TOTAL = £4,113

emmakirks wrote: »

Figures they have given me are £8851.50 full refund of premium plus interest paid to date £2441.49 and return of monthly payments to date £3599.20.

I cannot reconcile above figures--please type out the exact sentences used in your letter

Turbo