PPI Reclaiming Discussion part 4

Turboman

jennywtchy wrote: »

Hi - I am a newey - Please advise. I wrote to Alliance & Leicester less than a week ago and this was the response: Got loan in March 08 for £10K paid £72 PPI per month they have offered me over £700 which I think works out all payments back with 8% interest. My problem is the statement which says:.

Original Loan Amount £10,000.00.
Original Insurance Premium £3014.18 (Is this PPI?) Does this now get taken off my loan if I accept their offer..
.
Also says:
.
Loan Principal 10,000.00..
Interest on Insurance 825.82.
Interest on Principal 2739.80.
Insurance Principal 3014.18.
Total 16579.80.

What is Principal and what are the last 3 figures? Do they come off once I cancel PPI and accept offer?:o:eek:

No--this don't seem right--is it request for a cancellation OR MIS-SELLING?

Post up:
1)-Date of agreement and Number of Months of Loan
2)-Date of first payment
3)-Amount of Cash Advance Loan / Monthly Pymt at outset / % at outset
4)-Amount of PPI Loan / Monthly Payment at outset/ % if different to above
5)-Total Loan Amount (not incl interest)/ Total Mthly Pymnt (as a crosscheck of above 2 to be sure) at outset
6)-Number of payments made so far
7)-Present Monthly Total Payment + %
8)-Exact figures & wording from your received refund letter (or telephone conversations) and dates thereof with refund amounts,8% amounts, & new arrangements for revised mthly pymnt etc
9)-any history you have of Interest Rate Changes in form of a list---

---

Date of Change/new amount/new %

amersall

di3004 wrote: »

amersall, you have been amazing.:T :T :T , Well done.:T :T :T

Di
XX

hi di ,your not so bad yourself lol :T:T:T:T:T:T:cool::cool::cool::cool:

Pixie983

Turboman wrote: »

Right Pixe--got to go out for a while--will work on balances this afternoon

Have checked amnt/premium--Edit your answer 5) to 21,163

I confirm payments & 8% interest are right-ish (as I don't have exact % changes but near enough)--will look at balances later -- ask them what the Revised Balance & Revised Premium will be this aft. if poss--I think revised premium is 80.33% (17000/21463) of £255 = £204.85 - but I don't think the balance reduces by 5310 (I think more like 3850-ish ?? at a quick look)--These letters (as in a)) are often worded obtusely, ignore the payments made (& refunded) as in b)

EDIT--I think new balance around 15,584

Turbo

Thanks Turbo. As I said I phoned FP yesterday and they told me the changes hadn't been applied yet however the payment they have taken today is £187.85 which must be the revised payment (without PPI) as there is a big difference between this and last months payment (£255.64)???? It seems as if it is more of a reduction than I thought? Although saying that I think the interest rate cut has come in this month too? Oh well it's good news for me anyway, £70 better off a month which can go towards paying off other debt!!

Also just spotted the edit above re the new balance, is that what my new settlement figure is likely to be around? If so I am a bit disappointed as I thought the PPI refund would make more of a difference. Oh well never mind!

Turboman

Pixie983 wrote: »

Thanks Turbo. As I said I phoned FP yesterday and they told me the changes hadn't been applied yet however the payment they have taken today is £187.85 which must be the revised payment (without PPI) as there is a big difference between this and last months payment (£255.64)???? It seems as if it is more of a reduction than I thought? Although saying that I think the interest rate cut has come in this month too? Oh well it's good news for me anyway, £70 better off a month which can go towards paying off other debt!!

Also just spotted the edit above re the new balance, is that what my new settlement figure is likely to be around? If so I am a bit disappointed as I thought the PPI refund would make more of a difference. Oh well never mind!

Hmmmmmmm--we really need a current statement from them if you can get one with the balance before the refund & after so we can understand this--whats your latest rate increase/decrease date/amnt/% rate?

BTW--If you ask for a settlement figure, it will always be higher than the current balance,cos of the extra they add on to compensate for loss of contract (its in T & C's--Regs 2006 I think now-the Actuarial Method of working out a settle ment figure)

Pixie983

Turboman wrote: »

Hmmmmmmm--we really need a current statement from them if you can get one with the balance before the refund & after so we can understand this--whats your latest rate increase/decrease date/amnt/% rate?

BTW--If you ask for a settlement figure, it will always be higher than the current balance,cos of the extra they add on to compensate for loss of contract (its in T & C's--Regs 2006 I think now-the Actuarial Method of working out a settle ment figure)

Thanks Turboman I will call them again this afternoon & see what info they can give me/send to me. will they tell me balance over the phone? Yesterday they said they couldn't tell me anything as the changes hadn't been applied to my account yet but they must have if the payment the have taken today is down £70??? They lie!! :mad:

di3004

amersall wrote: »

hi di ,your not so bad yourself lol :T:T:T:T:T:T:cool::cool::cool::cool:

Bless you hun, we are so glad your here though hun, your a godsend, and thank you for your lovely comment.:A :beer:

amersall

Pixie983 wrote: »

Thanks Turboman I will call them again this afternoon & see what info they can give me/send to me. will they tell me balance over the phone? Yesterday they said they couldn't tell me anything as the changes hadn't been applied to my account yet but they must have if the payment the have taken today is down £70??? They lie!! :mad:

that is a fp trade mark lying , and cheating:mad::mad: at least !!!!!! turpin had the decency to wear a mask!! :mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad:

RF1695

Hello all!

Sent 1st PPI reclaim letter to FP on 3rd Feb 2009 and received a reply saying that because we used loans.co.uk we would have to get in touch with them as it was their resposibility, FP said that they had passed our letter on to the complaints dept of loans.co.uk
Finally managed to speak to someone at loans.co last week (18th) who told us that they have no record of our letter and that we needed to send them a copy - which we did......
Got a letter from them this morning saying that they need our consent to get further information from FP regarding our PPI policy as they don't hold any information in relation to our finance or PPI policy.

What I was wondering was - Why did FP say that it was nothing to do with them and to get in touch with "our agent" when they are holding the info all along.

If anyone can shed some light on this I would be very grateful.......

ps - This thread has great reading and some brilliant info and tips! Keep up the good work - makes me "keep the faith"

Thanks in advance

di3004

RF1695 wrote: »

Hello all!

Sent 1st PPI reclaim letter to FP on 3rd Feb 2009 and received a reply saying that because we used loans.co.uk we would have to get in touch with them as it was their resposibility, FP said that they had passed our letter on to the complaints dept of loans.co.uk
Finally managed to speak to someone at loans.co last week (18th) who told us that they have no record of our letter and that we needed to send them a copy - which we did......
Got a letter from them this morning saying that they need our consent to get further information from FP regarding our PPI policy as they don't hold any information in relation to our finance or PPI policy.

What I was wondering was - Why did FP say that it was nothing to do with them and to get in touch with "our agent" when they are holding the info all along.

If anyone can shed some light on this I would be very grateful.......

ps - This thread has great reading and some brilliant info and tips! Keep up the good work - makes me "keep the faith"

Thanks in advance

Hiya hun.

Hope your well, keep up your good work with these as well.:T

Now it seems to me they are stalling dealing this complaint, but hun if you do not get a response from them by 8 weeks, you will or should be eligible to move this forward to the FOS.

Blimey they don't know what they are doing do they ?:eek:

But yes I see what you mean, as FP do seem to have all the info.

Good luck and keep us posted and remember after the 8 weeks are up and you've not heard and they have not resolved your complaint, think about taking this to the FOS.;)

Di
X

amersall

:mad::mad::mad: does anyone know or has had this experience with fos? complaint about northern rock, i phoned fos and they sent me a form to fill out, with me so far? then i will continue,sent form back to fos with my complaint, still with me? ok. put all relevent info and documents with this letter signed and dated and posted it off, still following? today(3 weeks later) i recieved another complaint form from fos with the paper work i sent them:eek: thanking me for my enquiry about this complaint :eek: and they have enclosed their complaint form for me to check and sign!!:eek: thats what i have allready done:eek: and i have to return it with any supporting documentation:mad::eek: isnt that what i had just done? then they will be in a position to consider my complaint:eek::eek::eek::eek: the documents and my letter have been tagged with a pink strip so someone has read them!!:rolleyes::rolleyes: phoned fos and the man said he must apologise for this error and just to send it back in:eek::eek: what a waste of three weeks, just wanted to let off steam thanks for reading, going to work now for a rest :rotfl::rotfl::rotfl:back at 7xx