PPI Reclaiming Discussion part 4

maxdp

jemmum wrote: »

hi just wanted to update and let you know that after the year and half wait on the ombudsman i had a letter today stating that although lloyds tsb still think they acted correctly they are going to refund all ppi and give £200 compensation for distress.Yipee over £3000 in about 12 weeks time. it has been well worth the wait. good luck everyone who is still waiting.:T

Well done Jemmum Really pleased for you.:j

pinknico

Hello Max, had a letter about my second claim and that company are also reluctant to give up all the documents needed, so thats another complaint going to the ICO and more wating to see what my claims are!!!!

di3004

jemmum wrote: »

hi just wanted to update and let you know that after the year and half wait on the ombudsman i had a letter today stating that although lloyds tsb still think they acted correctly they are going to refund all ppi and give £200 compensation for distress.Yipee over £3000 in about 12 weeks time. it has been well worth the wait. good luck everyone who is still waiting.:T

Fantastic news hun, Congratulations and well done to you :beer: :T :beer: , that is wonderful :j :j .

Di
X

di3004

pinknico wrote: »

Hello Max, had a letter about my second claim and that company are also reluctant to give up all the documents needed, so thats another complaint going to the ICO and more wating to see what my claims are!!!!

Hiya Pinknico

Hope your well.:A

So your being messed around by them hun....... , yes best complain to the ICO, good luck hun, good your keeping on at them.;) XX

pinknico

Thanks Di, xxxxxxxxxxxxxxxxxxxxxxx

maxdp

pinknico wrote: »

Hello Max, had a letter about my second claim and that company are also reluctant to give up all the documents needed, so thats another complaint going to the ICO and more wating to see what my claims are!!!!

Hi Pinknico. I have one through solicitors who have stopped giving information, understand this is normal now for certain lenders. there is a queue in front of us but they are going to report them all. Other two seem to be OK at mom.

pinknico

Thanks Max, when you say queue I assume you mean other complaints from people ahead of you at the ICO?


How are you by the way ?!!! xxxxxx

maxdp

pinknico wrote: »

Thanks Max, when you say queue I assume you mean other complaints from people ahead of you at the ICO?


How are you by the way ?!!! xxxxxx

You got it Pinknico. Am wonderful thank you:D . (well some say others tell the truth. Tee Hee ) How you and babes doing.xxxxxxxx

pinknico

All well here, just playing the waiting game !

Turboman

Scarletto

I have added some explanations in red to help you understand the figures below:

Hi i was hoping i could get some advice again!! I am trying to put together a complaint letter for mis-sold ppi for my father in law. He has had a couple of loans over the past 6 years and has been paying for PPI. My father in law has been self employed for years and has already has income protection. One of his loans from Abbey was for 5000k and i'm just unsure whether his PPI was a single premium or not - i still can't get my head round the breakdown.... the information is as follows:
again i feel stupid as i know i've had ppi explained before but i just don't get it and i don't want to sound stupid in my letter either!



__________________________________________________ ________________
Loan - 5000k--you mean £5000 or £5K-lol
amount of payment protection insurance premium -£789.97
Total amount borrowed - £5789.97 over 36mths (Cash Advance + PPI Loan for SPI)
__________________________________________________ _________________

total amount to pay for Cash advance £5,000 loan - £5609.52 giving a mthly pymt of £155.82
__________________________________________________ ________________

total amount payment protection loan of £789.97 to pay - £886.32 giving a monthly payment of £24.62

__________________________________________________ ________________

Grand total to pay - £6495.84 giving a Total monthly payment -£180.44 (155.82+24.62)

__________________________________________________ _________________

then it says...
total amount of interest charged for Cash Advance Loan of £5,000 loan - £609.52 =(5609.52-5000)

total amount of interest charged for payment protection insurance loan of 789.97is interest of £96.35 =(886.32-789.97)

total amount interest for loan & payment protection ins is -£705.87 = (609.52+96.35)

__________________________________________________ _________________
Hi the date of agreement was Dec 05
The date of 1st payment 20/01/06
Monthly payment of £180.44
7.9% interest
36 payments

Right—now lets ASSUME you succeed in the mis-selling situation—I detail below what the figures would be as at 20/3/2009 on the loan which was paid up on 20/12/2008 after paying all 36 payments of (180.44 at APR 7.9% (AIR 7.63%)—assuming that the interest rate and payments have remained constant throughout.

PPI Loan for SPI of £789.97- Paymts made £886
8% statutory interest on payments from date of each payment = £123.

So I would then expect you to be refunded in a cheque of £1,009 (886+123)



So your letter—above figures are for you to keep your eye on—the letter should include the following (IMO—but others will help with your letter-I just do sums-lol)

…I require that the overall loan is recalculated to restore the position as if PPI had never been included; this would entail a refund of PPI payments made to date + 8% interest for each payment.



Turbo