PPI Reclaiming Discussion part 4

cappo

maz1411 wrote: »

Hi
can anyone help, I have received a letter today from ocean finance it reads ....
Our conculsion
we reaimin satisfied that the sale of your policy was conducted in accordance with the rules in place. However as we have also assess the sale in light of the paper which the FSA has issued and largely based upon this we are upholding your complaint. As a result we are now obliged to offer redress to you .....

what does this mean?

I did however cash in the insurance policy with 2 months of having it .... will this make a difference?

it means you'll get something back maz, nice one.

maz1411

cappo wrote: »

it means you'll get something back maz, nice one.

cool I didnt even write to them they approach me bet its not worth much though!!

beamerguy

maz1411 wrote: »

Hi
can anyone help, I have received a letter today from ocean finance it reads ....
Our conculsion
we reaimin satisfied that the sale of your policy was conducted in accordance with the rules in place. However as we have also assess the sale in light of the paper which the FSA has issued and largely based upon this we are upholding your complaint. As a result we are now obliged to offer redress to you .....

what does this mean?

I did however cash in the insurance policy with 2 months of having it .... will this make a difference?

What a strange letter from Ocean Finance. What they are trying to say to you is, "we were right but really we were wrong"

They clearly have upheld your complaint so expect a refund.:T

Ocean Finance are not one of the smartest cookies in the book :rotfl:

maz1411

beamerguy wrote: »

What a strange letter from Ocean Finance. What they are trying to say to you is, "we were right but really we were wrong"

They clearly have upheld your complaint so expect a refund.:T

Ocean Finance are not one of the smartest cookies in the book :rotfl:

thanks, that's why i was a little confused .... they say we should here something within approx 12 weeks .... looking forward to it just hope that cashing in the insurance policy doent effect it too much!!!:T

beamerguy

maz1411 wrote: »

thanks, that's why i was a little confused .... they say we should here something within approx 12 weeks .... looking forward to it just hope that cashing in the insurance policy doent effect it too much!!!:T

If they have upheld your claim, 12 weeks is out of order, should be 28 days to get paid. Chase them and ask them.
Ocean are known as the cowboys in this industry, bit like Welcome finance who went bust

maz1411

beamerguy wrote: »

If they have upheld your claim, 12 weeks is out of order, should be 28 days to get paid. Chase them and ask them.
Ocean are known as the cowboys in this industry, bit like Welcome finance who went bust

thanks will do, they do have extremely high repayment rates!!! they say in the letter its due to high volume of claims would be nice tohave something before xmas
:beer:

beamerguy

maz1411 wrote: »

thanks will do, they do have extremely high repayment rates!!! they say in the letter its due to high volume of claims would be nice tohave something before xmas
:beer:

Yes be nice, its up to you to keep on at them, the word is PRESSURE

dcfc36

My HSBC Loan is = £15,000 at 8.9% back in 2004 ( for 8 years )

Payments are = £381 a month ( including ppi )

I have made 83 payments of £381 and still have 13 left.

A £15,000 loan over 8 years with 8.9% interest is £21,021

but i have already paid £31,623.

if i never put my claim for mis-sold ppi i would of paid back a grand-total
of £36,576 JUST for a £15,000 loan over 8 years.

I have already been to HSBC bank and the lady even said i will get my mis-sold money back. and i`m guessing that i have been paying ppi included into my loan with 8.9% interest since day one.

My question is: if i have paid them £31,623 already and i should of paid them WITHOUT ppi included £18,177.......should i get the difference back?????

( i am at my 10th week waiting for a final responce!! )


when the guy at HSBC finalized my loan he said for a £15,000 loan over 8 years with ppi included comes to £26,130.

THAT JUST DOES NOT ADD UP AT ALL!!!

if anyone can help me out with any of this or if someone is in a simulair situation i would be so grateful for your help and advice!

Thankyou!

DCFC36

dilus

dcfc36 wrote: »

My HSBC Loan is = £15,000 at 8.9% back in 2004 ( for 8 years )

Payments are = £381 a month ( including ppi )

I have made 83 payments of £381 and still have 13 left.

A £15,000 loan over 8 years with 8.9% interest is £21,021

but i have already paid £31,623.

if i never put my claim for mis-sold ppi i would of paid back a grand-total
of £36,576 JUST for a £15,000 loan over 8 years.

I have already been to HSBC bank and the lady even said i will get my mis-sold money back. and i`m guessing that i have been paying ppi included into my loan with 8.9% interest since day one.

My question is: if i have paid them £31,623 already and i should of paid them WITHOUT ppi included £18,177.......should i get the difference back?????

( i am at my 10th week waiting for a final responce!! )


when the guy at HSBC finalized my loan he said for a £15,000 loan over 8 years with ppi included comes to £26,130.

THAT JUST DOES NOT ADD UP AT ALL!!!

if anyone can help me out with any of this or if someone is in a simulair situation i would be so grateful for your help and advice!

Thankyou!

DCFC36

Hi dcfc36,
We need to know how much of the £381 monthly payment was PPI, if you can come up with that figure I can give you an idea of what redress you can expect. You should get back all of the PPI paid to date + 8% standard interest, does any of the paperwork you have state the monthly PPI amount?

lisaann72red

:huh:Hi I have had a rummage through our filing cabinet. And I came across a loan agreement from First National for some double glazing we brought from Anglian Windows. The Anglian salesman told us that the PPI was compulsary in order to have the finance. The loan agreement was signed on the 08/5/2005 the insurance started on 27/06/2005 and ended on 28/06/2010 it shows a lump sum of £662.39 for premium incl IPT. Can we claim? Who do we claim against? Many Thanks in advance. Lisa :undecided