PPI Reclaiming Discussion part 4

di3004

HarriettPotter wrote: »

Hi all

Hope someone can answer a few questions for me.

In March 2003 (coincidentally 6 years ago!) I signed up for a loan with Egg for £15600 over 6 years. I remember being advised to take the insurance and I was so desperate I just said yes. Fast forward to last month where my partner reclaimed some Egg card PPI and I decided to do the same.

I sent the first letter template about 3 weeks ago and almost instantly got the 'thanks for your complaint letter'. Tonight, I have checked my Egg Loan (I run a budget sheet and update the new totals every month so I can watch it going down!) and on the Egg website it is showing my Egg Loan total as 0.00 even though I thought I had 3 payments left?! Does this mean they have paid it? I guess I need to wait for a letter, but it's hopeful, right?

Anyway - at the end of last month I had 1177.56 outstanding. I have my original loan letter in front of me and it says:

Principle loan - £15,600
Loan Payment Protection - £1467.65
Total amount - £17067.65
Interest rate 7.9%

Does this mean the total PPI I was expected to pay for the entire term was £1467.65? If so, given that they (may) have paid off my loan, should I expect the remaining £290 odd quid too? I didn't start paying the loan until the May so perhaps they would dock the three months I (hopefully!) won't be paying? Interest was added to that total figure, right? I guess I don't get that back?

What I am trying to ask is - do you generally get the full amount? Or will this settlement of my loan be a sort of 'offer' and I'd best just accept it?

Grateful for any views/experiences..

H x

More Calcs here for you Turbo, when your ready hunni, thank you.:A XX

waltermcculloch

Hi Turbo,

Di3004 has recommended you as being able to help me out with PPI.

I sent the following letter on 23rd February:

I am writing to request a fully comprehensive list of all the insurance/payment protection charges added to my account with Lloyds TSB . If you are unable to provide this data, I will accept copies of my statements. I understand that statements on their own are not covered by the Data Protection Act, yet I’m not requesting the statements per se, but the charges, which I’m entitled to.

I look forward to your response within 40 days, as is obliged under the Data Protection Act 1998. If not I shall seek remedy from the Information Commissioner.

I enclosed a cheque for £1, which I notice was cleared yesterday from my bank account, so had an idea something was being done, received the copies of statements in the post today.

I've made a spreadsheet and have included the late payments, but have marked them as bold on the spreadsheet to distinguish them from the proper payment protection charges.

There are 5 late charges at £20 each in the whole of the period from March 2003 up to present day.

In total, including the late charges, I've paid £450.47, but even without the £100 of late charges, that's still £350.47.

Do you know if I should include the Late Charges or not?

Thanks again for all the help x

Turboman

waltermcculloch wrote: »

Hi Turbo,

Di3004 has recommended you as being able to help me out with PPI.

I sent the following letter on 23rd February:

I am writing to request a fully comprehensive list of all the insurance/payment protection charges added to my account with Lloyds TSB . If you are unable to provide this data, I will accept copies of my statements. I understand that statements on their own are not covered by the Data Protection Act, yet I’m not requesting the statements per se, but the charges, which I’m entitled to.

I look forward to your response within 40 days, as is obliged under the Data Protection Act 1998. If not I shall seek remedy from the Information Commissioner.

I enclosed a cheque for £1, which I notice was cleared yesterday from my bank account, so had an idea something was being done, received the copies of statements in the post today.

I've made a spreadsheet and have included the late payments, but have marked them as bold on the spreadsheet to distinguish them from the proper payment protection charges.

There are 5 late charges at £20 each in the whole of the period from March 2003 up to present day.

In total, including the late charges, I've paid £450.47, but even without the £100 of late charges, that's still £350.47.

Do you know if I should include the Late Charges or not?

Thanks again for all the help x

Keep the Bank Charges Claim separate from the PPI Claim--totally different arguments and different departments at the bank

Turboman

di3004 wrote: »

More Calcs here for you Turbo, when your ready hunni, thank you.:A XX

Right-this loan is now paid up--give me the PPI Monthly payment & number of payments and start date

You get back(Mthly PPI x no of pymnts) + 8% on each pymnt from when it was made --I'll calculate the 8% for you or you can use the Bank Charges Calculator on Martins main site page on link below

http://www.moneysavingexpert.com/reclaim/bank-charges#step2

bathgatebuyer

Hi all - just a quickie to say no news as yet on my Sainsburys claim which was submitted with the FOS in May 08. I know I'm not the only one waiting but it's now approaching the year annversary of me submitting that and I'm wondering if I should send them a card?!

waltermcculloch

Thanks for that Turbo, I don't think I will bother claiming the late charges as they are legitimate - payments were late so fair is fair.

Turboman

waltermcculloch wrote: »

Thanks for that Turbo, I don't think I will bother claiming the late charges as they are legitimate - payments were late so fair is fair.

You are too generous!!

di3004

bathgatebuyer wrote: »

Hi all - just a quickie to say no news as yet on my Sainsburys claim which was submitted with the FOS in May 08. I know I'm not the only one waiting but it's now approaching the year annversary of me submitting that and I'm wondering if I should send them a card?!

Hi bathgatebuyer, hope your well hun.:A .

So your still waiting then ?:eek:

Yeah an anniversary card - come reminder card would be good lmao :rotfl: :rotfl: :rotfl: .
Hope you hear soon then bathgatebuyer, keep us posted. XX

waltermcculloch

Turbo,

Just had a word with mum, she said she had heard about people recaliming late charges as the charge was deemed to have been excessive.

Do you think I would have a case regards them then?

Thanks

di3004

waltermcculloch wrote: »

Turbo,

Just had a word with mum, she said she had heard about people recaliming late charges as the charge was deemed to have been excessive.

Do you think I would have a case regards them then?

Thanks

Hi hun

I would go for them, everyone else does.;)

Like Turbo says, your being too generous:D and these mount up on charges, I would try anyway.

Charges thread here:
http://forums.moneysavingexpert.com/forumdisplay.html?f=102

Di
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