PPI Reclaiming Discussion part 4

edited 10 June 2010 at 3:07PM in Reclaim PPI & Other Insurance
27K replies 2.2M views
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  • Hi hope someone can help, my ex partner and I took out a mortgage handled through a broker and we paid quite a lot in PPI. we have since split and the property has been sold. Because of split up I was left with the problem of the debt as my ex partner went off and left me to clear up the mess. As a result I had to file for bankruptcy which I am now discharged. Question is can I make a claim and do I need his signature (which I can't get) in order to receive any monies due?
  • dilusdilus Forumite
    1K Posts
    This post makes my head hurt!:D

    LMAO :rotfl: said it was complicated.
    Seriously though it's not :)

    If you know how much PPI you were paying each month (say £60)
    times it by 8% = 4.8
    divide by 12 = 0.40

    Once you have this 0.40 figure put it into the memory of a calculator and times it by 1 then times it by 2 then by 3 and so on up to the end of your term (in the example an 84 month loan or 7 years)
    Then add up all the figures 1 to 84 ;)
    Successes
    Sainsbury's/BOS £6,400 Paid :)
    MBNA £3,600 Paid :)
  • amersallamersall Forumite
    17K Posts
    Part of the Furniture 10,000 Posts Combo Breaker
    Forumite
    This post makes my head hurt!:D

    :D Mine too :D:D
  • dilusdilus Forumite
    1K Posts
    amersall wrote: »
    :D Mine too :D:D

    :rotfl: Must admit it did make mine hurt when I first saw it but after you have done a couple of calculations it hurts less and it taught me how to use Excel :D
    Successes
    Sainsbury's/BOS £6,400 Paid :)
    MBNA £3,600 Paid :)
  • dilus wrote: »
    Yes you have got it correct, work out what your PPI was each month :cool:
    The formula is
    The 8% is simple on each payment made £60.00 x 8%/12 x 84 plus £60.00 x 8%/12 x 83 and so on.



    Hope this makes sense :)

    Perfectly.. so for a front loaded single premium of £66.27, over 54 months the total interest would be £656.07, yes?

    Also, is there any interest payable on the period between the end of the loan and the current date?

    Cheers for the help Dilus

    :T
    "I don't want to sound cold and un-caring, but I am those things so that's the way it comes out" - Bill Hicks
  • edited 25 February 2012 at 9:42PM
    incesticdeincesticde Forumite
    459 Posts
    Part of the Furniture 100 Posts Combo Breaker
    edited 25 February 2012 at 9:42PM
    This post makes my head hurt!:D

    I can put it in java code if that helps?

    :rotfl:
    "I don't want to sound cold and un-caring, but I am those things so that's the way it comes out" - Bill Hicks
  • edited 25 February 2012 at 9:56PM
    dilusdilus Forumite
    1K Posts
    edited 25 February 2012 at 9:56PM
    incesticde wrote: »
    Perfectly.. so for a front loaded single premium of £66.27, over 54 months the total interest would be £656.07, yes?

    Also, is there any interest payable on the period between the end of the loan and the current date?

    Cheers for the help Dilus

    :T

    You have it bang on incesticide (according to how you round up or down) I got it to £653.40 ;)
    Don't believe they pay interest after the loan has ended.
    If they go beyond the calculation date before payment is made they should add interest per day but it is negligible and not worth worrying about unless they delay payment by months
    Successes
    Sainsbury's/BOS £6,400 Paid :)
    MBNA £3,600 Paid :)
  • incesticde wrote: »
    I can put it in java code if that helps?

    :rotfl:

    I Googled Java Code and now my head hurts :D:eek:
    Successes
    Sainsbury's/BOS £6,400 Paid :)
    MBNA £3,600 Paid :)
  • cappo wrote: »
    Hi Beth you might have to fos this one

    Thanks
    Okies so what letter do I send them then??
    Will I still be able to claim even though I have no proof of the original loan, and they (HFC) have come back and said they're unable to trace us??
    It's nice to be important, but more important to be nice!!
  • cappocappo Forumite
    2.1K Posts
    bethg2009 wrote: »
    Thanks
    Okies so what letter do I send them then??
    Will I still be able to claim even though I have no proof of the original loan, and they (HFC) have come back and said they're unable to trace us??



    hi Beth you just need to send a copy of the fos questionairre you would have filled out for your original complaint and send it in to the fos, if of course you have had a final response i have won many claims without the original paperwork that should'nt be too much of a problem, if you sar them you might show up on there systems but that depends on whether they give you the relevant info, i'll put the link anyway, as i've said to a couple of posters on here i was given the runaround by LTSB myself for 6 months, I fossed it in the end, sometimes you can get no sense out of the lenders.




    http://forums.moneysavingexpert.com/showthread.php?t=1475553
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