PPI Reclaiming Discussion part 4

scoodies

Hello guys, I was just wondering if Turboman was in???! I've had my letter from Northern Rock offering to refund my PPI premiums and would like some advice as to accept or not :rolleyes:

Here is the info (please let me know if there is anything you may need):

Loan amount = 24,000 Interest = 5.7% Total repayable = 31,370.40
PPI amount = 2,701.44 Interest = 5.7% Total repayable = 3,530.40
PPI monthly payment = 29.42
1st payment made = 02/11/06
Last payment made 04/02/08 (Loan settled in full in Feb 2008)
Payment made in full = 22,129.88 (No settlement letter received - amount told over the phone).

They have offered to pay back.....even though they disagree!! = 904.05 + 52.76 (8% interest).
They state in their letter that I have already had a rebate of 2,011.68 when I settled the loan.

Do you think these figures are ok???

Thanks very much for looking at this

Stillsmiling

I'm still waiting for Worst Plus to write with the figures for my offer. Financial Ombudsman blokey said to let him know if they don't get in touch. Anyone know how long Worst Plus take once they agree to abide by the ombudsman rulings and refund the money?

soontobesensible

HELLO EVERYONE,
JUST WONDERED IF ANYONE COULD TELL ME HOW LONG THE FOS TAKE ON AVERAGE TO SETTLE A CLAIM (IN MY CASE PPI WITH BLACK HORSE FINANCE LTD? I LODGED MY COMPLAINT IN SEPTEMBER 2008???????????:rolleyes:

di3004

Stillsmiling wrote: »

I'm still waiting for Worst Plus to write with the figures for my offer. Financial Ombudsman blokey said to let him know if they don't get in touch. Anyone know how long Worst Plus take once they agree to abide by the ombudsman rulings and refund the money?

I hope you hear soon.

They vary from one company to another, but hopefully it should not be too long, good luck hun.;)

How long have you been waiting?

di3004

soontobesensible wrote: »

HELLO EVERYONE,
JUST WONDERED IF ANYONE COULD TELL ME HOW LONG THE FOS TAKE ON AVERAGE TO SETTLE A CLAIM (IN MY CASE PPI WITH BLACK HORSE FINANCE LTD? I LODGED MY COMPLAINT IN SEPTEMBER 2008???????????:rolleyes:

Hi there hun

Has this been moved on to an adjudicator yet?

As soon as it gets to the adjudicator they will take at 2 sides, and give the other party about a fortnight to provide them with all the information.

Basically this can be a few weeks to a few months, sometimes a year or longer depending if it becomes complex.
Hopefully your going to be one of the lucky ones that will hear at an early stage with a good result.

Fingers crossed.;) x

Turboman

scoodies wrote: »

Hello guys, I was just wondering if Turboman was in???! I've had my letter from Northern Rock offering to refund my PPI premiums and would like some advice as to accept or not :rolleyes:

Here is the info (please let me know if there is anything you may need):

Loan amount = 24,000 Interest = 5.7% Total repayable = 31,370.40
PPI amount = 2,701.44 Interest = 5.7% Total repayable = 3,530.40
PPI monthly payment = 29.42
1st payment made = 02/11/06
Last payment made 04/02/08 (Loan settled in full in Feb 2008)
Payment made in full = 22,129.88 (No settlement letter received - amount told over the phone).

They have offered to pay back.....even though they disagree!! = 904.05 + 52.76 (8% interest).
They state in their letter that I have already had a rebate of 2,011.68 when I settled the loan.

Do you think these figures are ok???

Thanks very much for looking at this

Will look in morning----but you really do need ( & should have had) the breakdown of the settlement figure

Type out exact words re refunds/rebates/figures please from present letter

scoodies

Turboman wrote: »

Will look in morning----but you really do need ( & should have had) the breakdown of the settlement figure

Type out exact words re refunds/rebates/figures please from present letter

Hi Turbo, please find below the wording of the letter I have received from Northern Rock:

"I cannot find any evidence to suggest we mis-sold you PPI however, we do not want to be in dispute with you and I agree to refund your PPI premiums. You settled the loan before it ran its full term and made your first payment 2 November 2006 and the last on 4 February 2008 respectively. The refund of premiums and interest is therefore not equal to the monthly premium paid (£29.42) multiplied by the number of months the loan has been in force (16). This is because we apportion more of the premium in the early part of the policy term when we bear more of the risk.
We have already given you an insurance rebate of £2,011.68 and you are now due a refund of premiums and interest of £904.05. In addition we will pay 8% interest calculated from the date you made each payment, totalling £52.76"

I think the figures are probably right, but would like some advice please

Thank you so much once again for looking at this :A

SEVERNCYDER

soontobesensible wrote: »

HELLO EVERYONE,
JUST WONDERED IF ANYONE COULD TELL ME HOW LONG THE FOS TAKE ON AVERAGE TO SETTLE A CLAIM (IN MY CASE PPI WITH BLACK HORSE FINANCE LTD? I LODGED MY COMPLAINT IN SEPTEMBER 2008???????????:rolleyes:

Good Morning Soontobesensible,
I don't know about the average time taken by the FOS, but my claim against LTSB credit cards has been with them since 5/1/2008 and has still not been allocated to an Adjudicator and i have chased them up several times. I have also seen people post on here saying that they have been sucessful after only 4 weeks of the claim being at the FOS !. Read what you will on that , perhaps it is like a lot of other organisations at the FOS , it just depends on whose desk your claim lands , there are good and bad, quick and slow everywhere.
Good Luck.

soontobesensible

HI EVERYONE,
JUST WONDERED IF THERE ARE ANY SUCCESSFUL BLACK HORSE FINANCE CLAIMANTS OUT THERE? WOULD LOVE TO HEAR IF THERE ARE!

di3004

soontobesensible wrote: »

HI EVERYONE,
JUST WONDERED IF THERE ARE ANY SUCCESSFUL BLACK HORSE FINANCE CLAIMANTS OUT THERE? WOULD LOVE TO HEAR IF THERE ARE!

Hiya hun

Yes there have been and I do also know some are battling on with some of their's, but keep at them hun, we will all keep our fingers crossed for you.
Good luck.:A XX