PPI Reclaiming Discussion part 4

cappo

Niggly wrote: »

Cheers N:beer:

this is the poster i told you about IAN.

virtuous

Hi Niggly,

Yes, Loan 2 was consolidated with loan one and paid in full. It was on the 19th September, 2000 and the second one on 2nd of June, 2003. There was no rebate if I can remember.

Yes the loan was paid in full.

I hope this helps you to calculate - thanks

amersall

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.

Hi there, put a claim in for mis sell for the ppi that was put on this loan before you cancelled it,you should never cancel ppi on a loan that is running as this is what happens,they do a new loan without ppi and this does sometimes increase the apr,did they also increase the term?.

I am afraid you will get no joy with your complaint regarding this,as this is what happens.
The best you can hope for is a mis sell for the ppi that you paid.

Check the paperwork that you got for this "new" loan and make sure they did not carry any of the ppi over into the new "loan balance" they should have done a new loan for the original amount that you borrowed and not not any extra.

amersall

cappo wrote: »

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)

Yoo hoo
You are discharged after 3 years,but i am sure the fact you went bankrupt is still on your credit file for 6 years.

virtuous

Hi

I had a loan with The Funding corporation which I paid off but because it was February 2004, they refused to pay the PPI and when I asked the Financial Ombudsman, they told that I have to go to the Underwriters option, upto until now, nothing has happened. Last week, received a letter from FOS saying that they still have not solved this problem because its very complicated and that they will write to me again in November. They keep giving me 3 months and then nothing. This is very frustrating. AXA who are the underwriters have proved to be a difficult bunch. I hoping this will be solved very soon.

The Funding Corportion are not easy to deal with, they are ruthless.

amersall

irnbru74 wrote: »

Hi,

Has anyone had their complaint upheld with The Funding Corportion regarding the misselling of PPI, we had initial letter rejected.
But - had 8 weeks to get back to them if not happy, which of course we are not - so we are going to back to them to redress it.
We also didn't mention the fact it was single premium PPI!
Just waiting for SAR to come back, before doing this!

From reading other posts they don't seem very forthcoming, with regard to compensating people, who have been missold PPI, has anyone had any luck with them?
Thanks

Good luck with this,frontloaded ppi is the most frowned upon of all ppi.
What year did you take this out?.
This should be a win,if not take to to FOS.

Harrassedby-ismart

Is anyone else being harassed by ismart consumer solutions? (2 e-mails, 4 text messages and 3 phone calls in one 24 hour period) They are demanding commission on money I have NEVER received constantly ignore my letters, e-mails and telephone calls - and invoices for paprework sent to them. I have a record of all correspondence and can only advise people to stay well away from the company.

amersall

gboom2000 wrote: »

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.

Hi there and well done on your win :T:T
It is Opus you need to contact.

Opus Card Services
PO Box 136
Sheffield
S98 1HB

amersall

Harrassedby-ismart wrote: »

Is anyone else being harassed by ismart consumer solutions? (2 e-mails, 4 text messages and 3 phone calls in one 24 hour period) They are demanding commission on money I have NEVER received constantly ignore my letters, e-mails and telephone calls - and invoices for paprework sent to them. I have a record of all correspondence and can only advise people to stay well away from the company.

Hi there, report them to these.

http://www.justice.gov.uk/global/contacts/claims-management-regulation/index.htm

Niggly_2

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.

I am not happy with second loan figures. This loan was paid in full.

You are due back the whole of the ppi plus the interest paid. Then 8% on the cash price from June 2003 to August 2011

I would calculate a return of the cash price of the ppi £1,477.82
A return of the interest payable £424.78
8% From June 2003 to August 2011 on the ppi cash price = £975.36
Total £2877.96

Go back and quote the calculations I have given.

Thanks N:beer: