PPI Reclaiming Discussion part 4

di3004

sunny8 wrote: »

Not a lot Cappo.. to be honest with you, one of my dearest friends is gravely ill in hospital, having fought cancer for 5 years and i am just waiting for a call :( , we have waited all night, but in continuous corragious spirit, he is still with us..so here i am having a little light relief...my little one is at party this afternoon so i am sure that will keep me busy!!:):) Are you doing much today capo? xx

Sunny

I am so sorry to hear this and am thinking of you and your good friend. Love and best wishes xxxxxxx

di3004

49days wrote: »

Hi

I'm just reviewing all my accounts to make sure I haven't had any further PPI applied. What I wanted to ask was had anyone had any experience of PPI being applied to a Career Devlopment Loan? Not sure whether I should request the paperwork to prove this.

Any advice much appreciated.

Hiya

You could check directly with the branch, who should be able to confirm, but if you want to request for a Subject Access Request (SAR) you can of course do so if you want to.
There is a full SAR letter below link, you enclose £10 cheque or postal order, they have 40 calendar days to comply.

https://forums.moneysavingexpert.com/discussion/1475553
How long ago was this account taken out?

Mich973

Hi again - got the calculation letter from Lloyds and it was all correct and interest added where it was supposed to be. The reason it was less than I originally calculated was due to partial repayments when I paid the loans off early. A payment of £3,818.02 is in the post on it's way to me already. Am very pleased and it was worth all the grief and agro' in the end.

virtuous

Hi di3004 and Niggly,

I requested for calculation for the following but no one has come forth, so I am re-posting it again.

Hi Di3004,

Finally got a letter from Halifax but to be honest I do not understand their calculation. I took a loan of £6,000 in 2000. In my agreement

6,000 - Loan
2,230.20 charge
=Total: 8,230.20
1,278.28 - Insurance
424.00 - insurance charge
Total insurance= 1,753.20
Total to pay= 9,983
APR - 14%

Second loan taken in June 2003

Loan - £6,400
Credit charge- £1,983.80
Total £8,983.80

---

Insurance £1,477.82
insurance charge £ 424.78

Total Insurance £1,902.60

APR 10.9%

This what the Halifax has come up with that is why I need help:-

First Loan they offered the following figures

Refunding of premium £983.21
Refund of interest at 14% £365.47
Interest at 8% calculated at 30/08/2011 £992.99
Optional excess balance & Interest £ 93.67
Total £2,435.30


Second Loan they offered the following:-

Refund Premiums £ 516.53
Refund of interest at 10.9% £ 171.50
Interest at 8% as at 30/08/2011 £ 406.30
Total £1,094.33

Total Loan 1 and 2 =3,529.67

Can you please advise whether these figures are correct.

Something else they have come up with. I was discharged from bankruptcy in March 10, 2006 and according to the Official Receiver, after 3 years after discharge, even my credit reference should not have any trace of bankruptcy on me, so it was a shock when Halifax wrote to me saying that they notice that I was made bankrupt in 2005 and they have contacted the receivers and they will send money to them, this has made me sick because Halifax were the reason I lost my house and got myself into this mess. They sold the house and they repaid themselves and the others the money after the house was auctioned.

I really need this money and I need direction on what to do next. I have not contacted them yet because I want some advise before I do so.

cappo

Mich973 wrote: »

Hi again - got the calculation letter from Lloyds and it was all correct and interest added where it was supposed to be. The reason it was less than I originally calculated was due to partial repayments when I paid the loans off early. A payment of £3,818.02 is in the post on it's way to me already. Am very pleased and it was worth all the grief and agro' in the end.

Nice one well done:beer::j:money::D:T:T:):):)

cappo

virtuous wrote: »

Hi di3004 and Niggly,

I requested for calculation for the following but no one has come forth, so I am re-posting it again.

Hi Di3004,

Finally got a letter from Halifax but to be honest I do not understand their calculation. I took a loan of £6,000 in 2000. In my agreement

6,000 - Loan
2,230.20 charge
=Total: 8,230.20
1,278.28 - Insurance
424.00 - insurance charge
Total insurance= 1,753.20
Total to pay= 9,983
APR - 14%

Second loan taken in June 2003

Loan - £6,400
Credit charge- £1,983.80
Total £8,983.80

---

Insurance £1,477.82
insurance charge £ 424.78

Total Insurance £1,902.60

APR 10.9%

This what the Halifax has come up with that is why I need help:-

First Loan they offered the following figures

Refunding of premium £983.21
Refund of interest at 14% £365.47
Interest at 8% calculated at 30/08/2011 £992.99
Optional excess balance & Interest £ 93.67
Total £2,435.30


Second Loan they offered the following:-

Refund Premiums £ 516.53
Refund of interest at 10.9% £ 171.50
Interest at 8% as at 30/08/2011 £ 406.30
Total £1,094.33

Total Loan 1 and 2 =3,529.67

Can you please advise whether these figures are correct.

Something else they have come up with. I was discharged from bankruptcy in March 10, 2006 and according to the Official Receiver, after 3 years after discharge, even my credit reference should not have any trace of bankruptcy on me, so it was a shock when Halifax wrote to me saying that they notice that I was made bankrupt in 2005 and they have contacted the receivers and they will send money to them, this has made me sick because Halifax were the reason I lost my house and got myself into this mess. They sold the house and they repaid themselves and the others the money after the house was auctioned.

I really need this money and I need direction on what to do next. I have not contacted them yet because I want some advise before I do so.

Hi someone will be on here later who knows a bit more about bankrupcy and being discharged from same niggly maybe, although this doesn't seem right if you have been discharged, i'd definitely check this out.




http://www.nidirect.gov.uk/index/information-and-services/money-tax-and-benefits/managing-debt/court-claims-and-bankruptcy/what-happens-when-you-become-bankrupt.htm

cappo

I think halifax are barking up the wrong tree i'm no expert on bankrupcy but according to the article i've found you, you are discharged after 3 years, i thought it was 6 years but i know things have changed a bit, hope this helps. (for virtuous)

Raquelita

Hi,

I'm hoping someone out there can help me. I have put in two claims to HSBC for missold PPI. I have had an offer on one, which was PPI on a flexi-loan I had from 1998 to 2007. I paid £16.76 PPI a month for the time that I had the loan. They have made me an offer of £686, but do not accept liability, which I have refused. They say that they only keep records for 6 years and will therefore only refund the PPI from September 2005 to 2007. They told me if I could produce statements going further back than this they would reconsider their offer. I don't have any statements from this far back. I have had no response to my letter turning down the offer, and asking them to reconsider, which I sent a month ago. Are they really not obliged to refund these payments even though they have a record of when I took the loan out? Obviously it would be significantly more money that they would owe me.

The second loan was a personal loan that I was also missold PPI for. Seven months into the loan, in July 2008 I discovered I did not have to pay the PPI. I contacted HSBC to cancel the PPI. They made me cancel the loan also and then take out a new loan, increasing the APR from 13.2% to 14.9% telling me that this was because I had cancelled the PPI. This means I have been paying an extra £25 a month on the loan. My understanding now is that PPI should not have affected my interest rate, and that they should not have done this. I complained 13 weeks ago, and have still not received a response. I only asked for a refund of the PPI, but did say that I did not think they should have increased the interest rate. Should I have asked for a refund on this also? I am still paying off this loan, which ends in November next year.

Any advice/information would be much appreciated.

Thanks

cappo

Raquelita wrote: »

Hi,

I'm hoping someone out there can help me. I have put in two claims to HSBC for missold PPI. I have had an offer on one, which was PPI on a flexi-loan I had from 1998 to 2007. I paid £16.76 PPI a month for the time that I had the loan. They have made me an offer of £686, but do not accept liability, which I have refused. They say that they only keep records for 6 years and will therefore only refund the PPI from September 2005 to 2007. They told me if I could produce statements going further back than this they would reconsider their offer. I don't have any statements from this far back. I have had no response to my letter turning down the offer, and asking them to reconsider, which I sent a month ago. Are they really not obliged to refund these payments even though they have a record of when I took the loan out? Obviously it would be significantly more money that they would owe me.

The second loan was a personal loan that I was also missold PPI for. Seven months into the loan, in July 2008 I discovered I did not have to pay the PPI. I contacted HSBC to cancel the PPI. They made me cancel the loan also and then take out a new loan, increasing the APR from 13.2% to 14.9% telling me that this was because I had cancelled the PPI. This means I have been paying an extra £25 a month on the loan. My understanding now is that PPI should not have affected my interest rate, and that they should not have done this. I complained 13 weeks ago, and have still not received a response. I only asked for a refund of the PPI, but did say that I did not think they should have increased the interest rate. Should I have asked for a refund on this also? I am still paying off this loan, which ends in November next year.

Any advice/information would be much appreciated.

Thanks

HSBC are getting to be quite well known for this, this is what you do contact them tell them you have spoken to the fos and they say that the bank can use estimated premiums on the previous years they claim they have no record of and based on the average years premiums that you have paid, let us know how you get on, as for the other your always best to go for misold rather than let the banks take off the ppi for you as this will nearly always mean the loan is extended/interest /apr raised etc, not fair but this nearly always happens.

gboom2000

Had my calculations letter from HSBC this morning, £1,594!!! Sent the acceptance letter back so just wait for the cash.
This has spurred me on to ring CITI bank about my credit card which I know I paid PPI on, but when I got through to them I got a really un-helpful, there's no such thing as CITI credit cards anymore. After asking about who to talk to 7 or 8 times I got told Opus have taken over CITI credit cards. Will OPUS now deal with my complaint?

You guys really are awesome taking so much time to help others.