PPI Reclaiming Discussion part 4

skintmumofone

Hi ladies

Just wondering what to do next re my fob off from FP re my loans saying that it was loans.co.uk who dealt with this i wonder if I should write back to them saying that they maybe took out the loan the 1st time but the top up was with FP not loans.co.uk am a bit clueless to this whole thing. been off on hols all week but have been decorating so havent had a chance to really go thru the paperwork and write my letters.

Also re abbey bank charges they have offered me 60 pounds as a good will gesture so I think I will be writing to FSO, certainly not taking that offer want it all back they will be charging me more anyway as I am not with them anymore.

Getting all my finances sorted out with a DMP and its really going well have joined Think Banking and the account is really helping it is split into 2 and one side is your spending side and the other is your bills side it is taken out when you are paid and then what is left in your spending side is yours to spend if all the bills come out and there is money left in the bills account it is transferred to your spending account I wish I had this years ago might help me look after my money better.

Also cutting back on a lot of things. And its going well more organised and its this forum that has helped me too I really appreciate all the advice and help everyone has given me since I joined thanks everyone :beer::beer::beer::beer::T

marshallka

skintmumofone, you need to write to Firstplus if they sold the top up insurance to you and Loans.co.uk for the first loan. Some would say that you go to the lender for both but maybe someone will post. Its a debatable subject on here. My own opinion is the above.

Good luck

di3004

I was told in regards of my 2 loans with Nemo, to write to the lender on the loan advance, then back to the broker who arranged the first loan.;)

skintmumofone

Thanks guys will do that 2m am goin to the post office in the morning to get some stamps think i will get a bucket load as I am going to be very busy 2m

my son is still up and watching the grinch for the 100th time well slight exageration but it certainly feels like it hehe thanks again x:beer:

Turboman

scarletto wrote: »

Hi Turbo

I'm back to pester you again, i was hoping you could help me. I was trying to reclaim PPI back on a loan from NRock and just got letter back from Financial Ombudsman saying that NRock are offering me a settlement but I'm not too sure whether the amounts are correct and I should accept.
My Loan was for £5,500, i took the loan out in Nov 06 and 1st payment was 1st Jan 07.
Monthly Payment of £186.78
APR 7.6%
36 payments
It says on agreement:
Loanprotect Loan amount - £514.20
Cash Loan - £5,500
Total Loans - £6,014.20
Total amount payable Loan Protect - £574.92
Cash Loan - £6149.16
Total - £6742.08
Monthly Payment Loan Protect - £15.97
Cash Loan - £170.81
Total - £186.78
Total charge for credit Loanprotect (which is made up of interest) - £60.72
Total charge for credit Cash (which is made up of interest) - £ 649.16

I was offered 're-arrange loan by writing off all amounts that remain outstanding in respect of the borrowing for PPI inc any interest & charges. New monthly payment of £170.81 for next 9 months' (mmm i work it out to be 8 mths?)
'Refund amount amount in respect of additional borrowing for PPI inc interest charged - £431.19'
'Payment of interest on each of the additional payments made for PPI at rate of 8% per year simple from the date each payment was made - £38.64'

Does this sound ok to you? I think i need to check the 8 mths left instead of 9.

Thanks for your help again:)

Will look at this tomorrow

amersall

skintmumofone wrote: »

Thanks guys will do that 2m am goin to the post office in the morning to get some stamps think i will get a bucket load as I am going to be very busy 2m

my son is still up and watching the grinch for the 100th time well slight exageration but it certainly feels like it hehe thanks again x:beer:

hi there you go for it, dont let the beggers get you down:D:D:D:D ps i am 49 and i love the grinch, i could watch it over and over, your son has excellent taste:D

amersall

Turboman wrote: »

Will look at this tomorrow

hi turbo . welcome back, have been sorely missed

amersall

Beatlefan wrote: »

Thanks Di. I don't think I can claim based on the single premium alone, as I've not cancelled the policy mid-way. However, I've used it in my letter as a further example of how they weren't completely up front with me during the sales process.

If you've time, I'd be really grateful if you'd let me know what you think of my draft letter before I send it. I've cut and pasted it below.

Many thanks. :A

thats a good letter, post it off and keep us updated when you get your reply

di3004

Turboman wrote: »

Will look at this tomorrow

Hi Turbo

Welcome back.;)

I did make these lovely people aware you were busy and will return if any figures needed looking at in due course.;)X

Turboman

amersall wrote: »

hi turbo . welcome back, have been sorely missed

Thanks--been busy on a complex case re PPI carrying over from one loan to another--we are pioneering a FOS submission where we follow the audit trail throughout all the loans-rather than treating them as separate

Also, a little interesting case I will share (later on) where the 5 year cashback has been paid & then claims for mis-selling where the Cashback is greater than the potential cheque refund for mis-selling-spooky!!-lol