PPI Reclaiming Discussion part 4

sue149

sue149 wrote: »

Turboman wrote: »

loan 52 221 ppi 16 775 total 68986 payment 747 132 of this is ppi so loan payments are 615

it is not paid sep just all together as one loan

Turboman

sue149 wrote: »

sue149 wrote: »

it is not paid sep just all together as one loan

Doesn't balance--can't reconcile --payment and Loan ratios should be the same assuming same interest rate

16,775/68,989 = 24.30%
52,221/68,989 = 75.70%

132/747 = 17.67%
615/747 = 82.33%

Are you sure 132 is current PPI or original PPI in 7/2006
otherwise PPi now is 24.30% of 747 = 181.52

What were the 2 monthly payments at outset? and %?

pinknico

sue149 wrote: »

Turboman wrote: »

no i dont think so thank s for helping can i ask you can i demand the money back to me or are they able to take it off the loan cheers

If you are not in arrears, any payments made towards the PPI ,plus interest should be paid to you. The remaining PPI should be removed from the loan and your monthly payments reduced.

petermb_2

The problem with cancelling ppi from a loan is that the lender will deduct from the intial premium monies that they would claim have been used to cover you to date. Taking the line that you have had benefit from it.

You are much better to challenge the ppi frm the start becuaev you will force the lender to amend the agreement you have rather than writing a new one where they have the opportunity to increase the interest rate.

I hear so many stories of people who cancel the ppi and then find that their payments do not reduce because the lender claims that the rate was only lower because of the protection. Nonesence of course but lenders will do all they can to maintain their income.

As for the lenders not providing information. You are going to get this more and more. It is a planned strategy to put off as many people from claiming.

chicqa

di3004 wrote: »

Hiya hun
Blimey what have they done to you ?:eek:

You definately need some advice here from someone who knows to work around this one.

Have you requested a Subject Access Request before from them?
This is the one where they MUST supply all the information they have on you, although there is a charge of £10 for this by either cheque or postal order, they have 40 days to comply and the SAR letter template is on the thread.

If you have already done that I think they should have sent you these details even now you have requested from them, it maybe also worth your while contacting the Information Commissioners Office (ICO) in regards to the documentation you have requested.
https://www.ico.gov.uk/Global/contact_us.aspx


And maybe contact the Financial ombudsman as well to see if they can help you in any way with this now, it just don't seem right:
http://www.financial-ombudsman.org.uk/contact/index.html

Good luck hun, hope someone else comes along soon to give some advice to you, please keep us posted on this matter.;)

---

Hi Hun,
i have passed this on to the Ombudsman to day as
I was getting nowhere.. Will keep you posted!
Wish me luck on this day!!!;)
Chicqa

di3004

chicqa wrote: »

---

Hi Hun,
i have passed this on to the Ombudsman to day as
I was getting nowhere.. Will keep you posted!
Wish me luck on this day!!!;)
Chicqa

I wish you loads of luck hunni, fingers crossed for you, yes please do keep us posted.:D

Di
XX

simon1111

Hi Everyone newbie here so be gentle with me!!!
I have contacted mbna with regards reclaiming my ppi and have today received the fob off letter highlights include!!
The ppc was applied to my account after a telephone conversation with one of there specailsits.not required to record all calls etc
usual stuff about having had the chance to cancel
ppc premiums are clearly shown on staement ,blah blah
However as always with these things the meat is in the last couple of paragraphs. i did cancel the policy in march 2007 which they did do, to be fair.but they are saying that they are satisfied the the cover was requested although dont seem to be able to supply any proof as all calls do not have to be recorded.They also state that all internal complaints procedures have been exhausted.And that is there final response.And finally that my complaint for the period between spt 2001 and march 2007 is outside time limits for referal to the fos and they will not enter into correspondence on the matter.
So there you have it , basically can i continue as it would appear to be my word against theirs. Or are they just fobbing me of. i would really appreciate any help.cheers

di3004

simon1111 wrote: »

Hi Everyone newbie here so be gentle with me!!!
I have contacted mbna with regards reclaiming my ppi and have today received the fob off letter highlights include!!
The ppc was applied to my account after a telephone conversation with one of there specailsits.not required to record all calls etc
usual stuff about having had the chance to cancel
ppc premiums are clearly shown on staement ,blah blah
However as always with these things the meat is in the last couple of paragraphs. i did cancel the policy in march 2007 which they did do, to be fair.but they are saying that they are satisfied the the cover was requested although dont seem to be able to supply any proof as all calls do not have to be recorded.They also state that all internal complaints procedures have been exhausted.And that is there final response.And finally that my complaint for the period between spt 2001 and march 2007 is outside time limits for referal to the fos and they will not enter into correspondence on the matter.
So there you have it , basically can i continue as it would appear to be my word against theirs. Or are they just fobbing me of. i would really appreciate any help.cheers

Hi there

I take it then they have issued you with the final response and MBNA were not regulated when you had taken out the finance such as with GISC before the FSA taken over 14 Jan 2005?

Have they actually confirmed your unable to take this to the Financial ombudsman service?

So you have no documents in relation to this finance? or agreement?

simon1111

thanks for the reply the letter states

We note that your complaint relates to a period that is outside of the the limits for referal to the financial ombudsman.The finacial ombudsman will be unable to deal with your complaint unless there are exceptional circumstances

simon1111

sorry in my haste to reply no i do not have any documents