PPI Reclaiming Discussion part 4

silv.surfer

Thanks amersall - cappo could you also have a look at the Giving me Authority to deal on Friends behalf as I have to type it out tonight.

I would say Arkle up the Home Straight :rotfl::D

I will type one out to give him Mon when we phone the Bank so he can take it in when he next goes in to collect PPI Agreement before his next JSA in 2 weeks - and a copy to keep on him just in case they argue anytime.

Sort of :

Dear Sir/Madam
I give .Mrs ......... of 41 .................. Phone .......DOB Authority to deal / liase / ? on my behalf with regard to my Account No ........... with Barclays Bank PLC until such time as I withdraw my Authority

Yours faithfully

How is that, anything I have missed out - which do you think best deal / liase or what else.

Thanks for your advice I will post what is said on phone on Mon re PPI Agreement. Delaying action has started I think, or just bad Customer Service

amersall

silv.surfer wrote: »

Thanks amersall

I would say Arkle up the Home Straight :rotfl::D

I will type one out to give him Mon when we phone the Bank so he can take it in when he next goes in to collect PPI Agreement before his next JSA in 2 weeks - and a copy to keep on him just in case they argue anytime.

Sort of :

Dear Sir/Madam
I .....give .Mrs ......... of 41 .................. DOB Authority to deal / liase / ? on my behalf with regard to my Account No ........... with Barclays Bank PLC until such time as I withdraw my Authority

Yours faithfully

How is that, anything I have missed out - which do you think best deal / liase or what else.

Thanks for your advice I will post what is said on phone on Mon re PPI Agreement. Delaying action has started I think, or just bad Customer Service

This looks good,use "deal with anything relevant to the above account number",
Good luck.

amersall

michellegaz wrote: »

hi have got money from lloyds but went through people from a claims direct, they didnt do a lot didnt have a phone call until today to ask for money for what they didnt help with getting money back,do i pay them ??

If you signed a contract with them then you have to pay i am afraid,this is the trouble with these companys,money for old rope.
If you dont pay,they will take you to court,but dont pay them until you get the refund in your bank,if they get stroppy and want it before you get it, tell them you will report them to the MOJ
as you have not got the refund yet.

amersall

kuffs1978 wrote: »

hi everyone,

i hope you all had a peaceful xmas and a good start to the new year.
I don't know if anyone replied to my last post; things have been more than a little difficult over the last month or so, and sadly that includes the ppi rebate situation. I'll be totally honest and say that i'm completely exhausted from this process; the guy at the fos who's dealing with my case may still be on holiday and norton finance have not followed the ombudsman's instructions that my loan repayments should be recalculated, and subsequently ge money are potentially just 14 days away from serving a default notice. However, could some kind soul please tell us if our understanding of the following part of the ombudsman's ruling is correct.

The part we're having trouble understanding reads:
"norton cannot require x to reduce the loan beyond that which would now have applied had the ppi not been sold"

does this mean that regardless of how many times my sister has paid the monthly instalment of £261.15 (including ppi) when the monthly amount without ppi would have been £216.88, whatever excess she has paid over the last 4 years will just be disregarded, and only now can she expect the monthly instalments to be £216.88? Or does it mean that since 48 payments of at least £216.88 had been paid, the difference between that figure and the £25.63 in ppi each month would count towards paying off the outstanding balance? It is very upsetting that we cannot find anyone who will help us understand this, and ge keep phoning and demanding more money than is owed. The loan agreement clearly states that without ppi the interest wiould have amounted to £3,009.20, yet my sister has already paid £11,334, but norton claim she still owes £3354.20. We really don't understand. Please help.

bumped for niggly x

amersall

kuffs1978 wrote: »

incomplete

i'm not quite sure about this. Ge money informed us several times in 2011 that when the ppi had been taken off, the loan would take less time to clear. Then in october 2011 we were informed that my sister's payments were completely upto date, and the outstanding balance was £3354.20. This was before the ppi was taken off and the fos decision was passed. Yet norton wrote to my sister after the fos had ruled in her favour, and told her that the £3354.20 still remained as the outstanding balance after the ppi rebate. The original loan agreement stated that without the ppi the interest to be repaid over 60 months was £3,009.20 on top of the 10k loan, yet £3,637 in interest has already been repaid after 48 months of repayments. The interest is the real crux of the problem as if the loan had been sold without ppi, by my calculations that means that £3,009.20 interest should have cost £50.15 per month, with the 10k costing £166.66 in capital repayments. Yet because of the ppi the initial sum even before repayments commenced rose by nearly £500 rather than the £150.45 it should have, and interest each month started at £101.30 per month and didn't get anywhere near £51.00 until january 2011. I've checked every single one of my sister's payments to ge and having deducted the cost of ppi each month, she has repaid £11,334 already. But the interest on the account has increased the outstanding balance dramatically every month, which nobody appears to want to acknowledge.

bumped for niggly x.

amersall

kuffs1978 wrote: »

hiya,

this is the redress that my sis got from norton. Or an attempt at an explanation anyway. We still haven't seen the money yet.

Premium =£1537.50
total payments/interest paid to date on ppi=£340.20
interest at 8% on payments made =£133.12
compensation =£200
total = £2210.82
less rebate already received =£384.38
total redress due=£1826.44

since we cancelled the ppi in april my sister had paid 33 instalments, so the interest on the ppi amounted to just £10.31 per month. That means that between £60 and £90 in interest was charged on the loan each month, which is extortionate when she should have only been charged less than £55. We spoke to ge last night who confirmed that the repayments so far totalled £12,534.20 so even if we are generous and deduct the full £1537 ppi that means that my sister's repayments have been at least £11,034.20 which is just under £2,000 short of the £13,009.70 the fos have agreed she should repay.

bumped for niggly x.

silv.surfer

Thanks amersall

Will get typing right now

beamerguy

Newgirl711 wrote: »

Thanks for the wording above Beamerguy. I will also use this for my letter to Nationwide.

However, I believe the Fraud Act 2006 only applies to England & Wales? I'm from Glasgow, is there anything I could quote in my letter?

Thanks again for your help x

OK, have a read of this
http://impact.freethcartwright.com/2006/11/fraud_act_2006.html

beamerguy

Gerrards_Crocc wrote: »

I am about to embark on reclaiming PPI on a loan from HSBC. When I took the loan out they insisted that I take it otherwise they would not give me the loan. What do you think my Chances of success are anyone ?

Your chances are 100% SUCH shoddy practices are frowned upon by the FSA and FOS

beamerguy

qml1968 wrote: »

Hi all...


I have a NatWest Credit Card that I took out in 1992, when I was young & naive, which included Card Protection from the start, as I was living with my parents (no outgoings for bils etc) at the time of application , in full time emlpoyment with good sickness benefits and have always paid my balance in full every month for the last 19 years I do feel that if I had had the protection explained to me fully I would not have taken it out, I have only recently realised that I could cancel this element of the card and did so in November 2011. Is it worth me making a claim or will NatWest just say that as the agreement was made so long ago there is nothing that they can do about it...

Any advice will be very much appreciated...

Go ahead and claim, see the list below, if you can answer NO to any or more, throw the book at NatWest, you will win


*Did YOUR BANK explain the full cost of the PPI when you took out the loan?
*Did you specifically ask YOUR BANK for PPI?
*Did YOUR BANK make clear that PPI was optional?
*Did YOUR BANK ask you about your medical history?
*Did YOUR BANK ask you about any existing payment cover?
*Did you know that YOUR BANK added a PPI policy to your loan?
*Do you think YOUR BANK treated you fairly?
*Did YOUR BANK ask if you have any existing medical conditions?
*Did YOUR BANK ask if you were entitled to sick pay from your employer?

If you answered no to any one of the above you could be owed thousands of pounds