PPI Reclaiming Discussion part 4

syrbag

HSBC has upheld my two loans, can someone help me with calculations. I am not sure to accept the offer

LOAN 1
Loan amount £11,821.05
PPI Premium £2,784.51
TOTAL LOAN: £14,604.56
Term of Loan: 60 months

Monthly Payment £243.00
Monthly PPI £46.32
APR 11.9%

April 2004-December 2005 (20 months) early settlement
Settlement Figure £8,569.26
Settlement PPI Rebate £907.43

PPI Redress £1640.87
Int at 8% £837.05
Total: £2,477.92

LOAN 2
Loan amount £16,994.58
PPI Premium £3,601.68
TOTAL LOAN: £20,596.26

Monthly Payment £343.27
Monthly PPI £59.61
APR 6.9%
term of loan: 60 months

April 2006-July 2009 (40 months) early settlement
Settlement Figure £6,607.46
Settlement PPI Rebate £282.82

PPI redress: £ 3,825.53
Int at 8%: £1,191.66
Total: £5,017.19

Total offer for 2 loans: £7,495.11

Please help, i am not sure with the calculations, especially with the 1st loan

pigsmightfly

Wonder if one of you fabulous "calculations" people could help me?

I need someone to help me work out roughly what I should be owed as a figure has came off my loan balance so presume a letter will be on its way.

However my situation is a bit complicated so if anyone is willing, could you kindly PM me when you are free and I will explain and send you figures etc.

Thank you so much x

eirelav1962

hi di i know how much i paid for my loan but it only says the number of payment beside the payment that i paid any help would be greatxx

di3004

eirelav1962 wrote: »

hi di i know how much i paid for my loan but it only says the number of payment beside the payment that i paid any help would be greatxx

Hi hon

I would definately query this matter in writing to them, in my opinion - if they have upheld in your favour and not a offer of goodwill gesture, they must pay you all you have paid, plus interest etc.

Maybe query this with the CEO. xx

irnbru74

Hi,

Can anyone help me, once you have received a final response letter ie rejection letter, if you then send the company further complaints not in original letter of complaint, do they have to investigate or does the complaint stay closed?
I have been looking on the FSA handbook, but can't make head nor tail of it!!

Thanks

eirelav1962

hi di do you think i should send them a sar thanks

eirelav1962

can anyone help had ppi with monument they call it payment protection plan paid 485 from august 2005 to july 2007 when i cancel they wont go back to 2001 when i started this and sent a goodwill gest of 242 pounds which i had took they will not review charges from2001 to 2005

pineapple123

di3004 wrote: »

Hi there

First of all what year did you take out the account?
If Jan 2005 onwards you should be able to make a reclaim through the Financial compensation scheme (FSCS), if these are listed with this business you can arrange for them to send you a claim form.
The dealer maybe listed with them.

http://www.fscs.org.uk/contact-us/

Failing that, you could contact the financial ombudsman service (FOS) explain your situation to them, they will then possibly suggest the underwriter/insurer of the policy.
There are ways round this, good luck and please keep us posted.;)

Thank you for getting back to me the agreement was taken out in 2003-2007 I have all the paperwork connected to the agreement and felt I was missold on at least 6 key points and reading it again now I have only realized - that we would have only recieved payment for disability for up to 24 months so could have been left with 3 years of finance to pay- I thought ppi would cover the whole term of the agreement, pressured into signing there and then in the showroom with this fab special offer rate ppi only avail for 28 days etc etc, we read it quickly and signed.
These points plus others mostly relate to the salesman .

I am now annoyed, I thought that we were fully covered if anything was to happen lucky it did not- should have read the contract better but didnt know that we could have a cooling off period , looked at the contract at home without pressure and changed our minds.

Will now try the FOS route- thanks, feel inspired to carry on and at least try to make a claim, will keep you informed.

Sybersal

In 2002 we took out a mortgage with HSBC, during our meeting we were told we would have to take out mortgage protection plan with critical illness, and separate PPI (joint mortgage), as well as buildings and contents insurance with the bank - he specifically said this was a term of the mortgage. The buildings and contents we only had for a year as we renewed elsewhere. But had the other 3 policies well into 2007 probably totalling about 11k in all.
Despite this HSBC have said we don't have a claim is it worth going to the Ombudsman -this has taken them 5 months to come back with a no! Had we not been told this there is no way I would have taken out these policies with the bank I would have shopped around.

emer

Sorry to 'hijack'. Can I ask how you all initiated your claim. Im at a loss how to begin. Can you read my issue and see if its worth making a claim?

I went into a branch of Lloydstsb in Aug 2005 in the hope of having a loan to pay off an outstanding cc debt. rather than ask me how much I needed to borrow, she asked me how much I could afford to pay back each month- I said approx £220 and I was quoted for a 7k loan (paying back 9.5k). No mention of PPI at all, and I was so naive that I didn't mention it (didn't even know what it was). She also put a hard sell on me to purchase life insurance off her colleague - booking an appointment to go and see this person straight away-

A couple of months later I contacted Lloyds Loan centre to see if I could have the PPI removed (I understood what it was then and realised that I didn't need it as I had a good pension through work with life cover and illness). I was told that I would have to reapply for another loan - it wasn't possible to take the PPI off.

So I paid my loan and finished payments some time ago. I have ummed and ahhhed about whether to try and make a claim- is it worth it? I don't know. I have moved house and cannot find any of my loan documentation . How can I get hold of this. Sorry for all of the questions- How much would PPI have been possibly on this amount? as I say- I don't have my documentation.

ANY advice would be wonderful.