PPI Reclaiming Discussion part 4

amersall

Kuffs1978 wrote: »

amersall wrote: »

Just had a thought; since my sis was paying PPI from October 2007 upto (and including) April 2011, that meant she made 43 payments, not 33. So when the £340 interest on the PPI is divided by 43 it's even less than the £10 I calculated before. Either way, I reckon she has paid far more than she should have in interest and considering the conduct of Norton Finance so far it's obvious they have no scruples but every intention to make this as difficult as possible for us.

BUMPING THIS TOO,TO GO WITH THE 2 ABOVE,ANYONE HELP PLEASE.

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.

this too xx please,anyone?.

amersall

ndiosha wrote: »

When I phoned in December to log the complain, I gave them 5 account numbers [2 x personal loans, 1 x secured Loan, 1 x Mortgage Loan, and 1 x Credit card].

In their response, they have only mentioned the 2 personal Loans (one of which they claim did not have a ppi, therefore calculation is based only on the one which had ppi). No mention whatsover of the £45k secured Loan, cc, or mortgage Loan.

I'll do as advised and phone them to ask what they are doing about the other remaining accounts. I will also tell them to put the offer on hold until I have sight of the agreement of the Loan they claim did not have ppi.

I have prepared a letter to send off to request for my SAR and will post it as soon as I have heard what they have to say when I phone them.

Thank you for the advice.
Much appreciated.

Let me know how you get on,you could accept the redress for the loan they have given you,when you get the paperwork for the second loan,if it has ppi,you can put the claim in again for this one.
The same goes for the secured loan and the card.

amersall

Kuffs1978 wrote: »

Any progress in the advice department regarding our headache of a predicament guys? Have heard nowt from the FOS this week but the relentless calls from GE still persist.

Write a letter to GE money and tell them you are in dispute over the balance and this is with FOS,keep up the monthly payments (without ppi) and tell them you will deal with this when you get a conclusion from FOS,if they persist in the contact,you will take legal advice.

carprdiem24

Hi guys. first off congratulations on all your successful cases.

I have a question that hopefully someone can answer...

I had been with hsbc bank from around the age of 12. 5 maybe 6 years ago they kicked me out the bank due to me being so rubbish at paying back loans etc etc. my loan then got passed onto debt collectors etc and im now debt free

My question is, even though it has been over 5 years or so, AND i got kicked out of my bank, would i still possibly be able to try to claim my ppi back from a £15000 loan.

I no longer have the paperwork for it, but if there is a alight chance of getting some money back then i obviously want it.

If so, how do i begin the process!

Thank you

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.

THIS TOO XX PLEASE,ANYONE?.
Another thought!!,did the ppi amount above not include the interest?
If the ppi above was the total on the agreement,the interest is included in this,see what i mean?.

di3004

amersall wrote: »

Have been bumping your posts up for Niggly to take a look at,i emailed him and have had no response as yet,i know this does not help you,i will see if Di can rouse any of the others who are good with calcs.
Hopefully this can be sorted out for you.

Hi amersall.

Just came across this now.

Wow lots and lots of posts, I have a job to keep up LOL.

Can you recall on who-else used to work out calculations on here?
Was Ian one of them? I can't remember? :D lol x

luckynumber7_2

Hi there dont know if i'm on the correct discussion site but here goes.
I was sold morgage payment protection way back when i took my morgage in 1998 but after a few yrs i went to speak to a broker regarding my morgage and was then given a cheaper monthly mppi with paymend shield who i think were (Norwich Union) because it was a couple of ££'s cheaper. After speaking with many colleague's and friends they have said that there is no point in me having this as i get paid for a yr when i'm off sick therefore its no use to me. I have now cancelled the policy just 2 weeks ago, but i'm wondering if i could claim this money back as i feel i was missold the insurance and if i do who do i claim? will it be payment shield as these are the people who i paid the insurance to please help any advise would be helpfull and thanks Debbie.

ilesmark

ilesmark wrote: »

Hi all

After reading about this PPI misselling issue, I decided months ago to chuck in a letter for the hell of it.

Tonight - I have just come home to find 2 letters from Santander. One in my sole name with an offer of £5100 and 1 in the joint names of my ex-fiancee and myself with an offer of £1100.

Needless to say, the offer in my sole name requires just my signature to accept it while the one in the joint names of my ex-fiancee and myself requires both our signatures to accept it and, also needless to say, getting her signature is not an option.

What had happened was that in 1997, I bought a property with my then fiancee and took out a joint policy with Alliance and Leicester that was designed to cover our mortgage repayments in the event of accident, sickness or unemployment.

In 1999 - fiancee stopped being fiancee and the policy was put into my sole name along with everything else. I continued paying the premiums.

2007 - I cancelled the policy.

2011 - I wrote to Santander, who had of course taken over Alliance and Leicester, using one of MSE's own template letters.

Tonight - the 2 offer letters turned up.

My question - I don't want my ex-fiancee's half of the £1100, but it would be nice to at least get hold of my half of it. Is there any way of doing this?

Thanks in advance

Mark

PS - a very noddy follow-up question - does this PPI reclaiming business also apply to the life/critical illness policies you are required by the lendor to take out when you get a mortgage?

All done! I simply phoned up Santander and explained the situation - initially on a no-names basis in case there were problems - and they told me to sign the acceptance form myself and put in a covering letter explaining the situation, whereupon they will pay out 50%. If id known it was that simple I wouldn't have bothered posting in the 1st place.

ilesmark

carprdiem24 wrote: »

My question is, even though it has been over 5 years or so, AND i got kicked out of my bank, would i still possibly be able to try to claim my ppi back from a £15000 loan.

I no longer have the paperwork for it, but if there is a alight chance of getting some money back then i obviously want it.

If so, how do i begin the process!

Thank you

Firstly, as long as you had it at any point in the last 6 years you're ok.

secondly, the fact that they kicked you out is irrelevant (apart from making you feel better if you succeed)

and lastly, they must give you copies of the paperwork. make a data protection act subject access request if they try and play silly !!!!!!s