PPI Reclaiming Discussion part 4

di3004

jennywtchy wrote: »

Here goes this is information on statement:
Date of Agreement: 12/03/08
Number of months of loan: 60 months
1st payment: 01/05/08
Original Loan amount: £10000.00
Original Insurance Premium: £3014.18
Interest rate per annum: 10.44%
APR: 10.44%

Statement of payments then reads:
Loan Principal: £10000.00
Interest on Insurance: 825.82
INterest on PRincipal: 2739.80
Insurance Principal: 3014.18
Total before 1st payment = 16579.80

Payments are 276.33 per month including insurance - 11 payments made

Letter says:

Having considered the available information, I am unable to establish that you were provided with sufficient details to be able to make an informed decision when you were recommended to buy this policy. I would like to offer you £712.16 as a refund, with interest of all the premiums you have paid for the insurance element of your loan.

I have arranged for the policy to be cancelled from your account and new loan agreements have been forwarded to you under seperate cover.

The offer consists of £704 as a refund, representing the payments made in respect of the PPI from 01 May 2008 to 02 March 2009. It also includes £28.16 in respect of interest payble to 31 March 2009, less £20 Money BAck Insurance payment credited to your account on 12 MArch 2009. I confirm that with effect from receipt of you new signed loan agreements, your new monthly payment will be £213.33. The represents the monthly repayment you would have made had you not taken PPI with your loan.

Total breakdown of offer:
A. Total monthly premiums from 01 May 2008 to 02 MArch 2009 £704.00
B. Interest on (A) to 31 March 2009 £28.16
C. Minus £20 Money BAck Insurance payment credited to account £20.00
D. Total premiums + interest (A+B+C) £712.16
The amount of interest is caclulated at a rate of 8% simple consistent with the FSA and FOS

This offer is made in full and final settlement of your complaint. If you do not accept or agree contact the Ombudsman. Leaflet enclosed.

Hi Jenny

I take it this is the one, you want Turbo to take a look at ?:A

Cheers X

jennywtchy

yes please - thank you very much

maxdp

Hi Jenny

Have a look here it may help you.http://forums.moneysavingexpert.com/showthread.html?t=1596473

Toffee_Penny

Hi again, hope no one feels sick from eating too many creme eggs (they are the best though aren't they? ) Been pondering over FOS response for MBNA ppi reclaim from 2001 when they said they can't help it's too early, MBNA weren't covered.

I researched the net last night and most of today and I have found out about GISC, FLA, FSA, CIA, DFS, FBI and SAS :rotfl: ahem, sorry but I really am getting puzzled

I cannot find anyone who has had the same reaction from the FOS over MBNA to read up on just lots of success stories. I know MBNA were covered by GISC so why can't the FOS help me?

The FOS are not open tomorrow (bank holiday) but I wanted to ask is there a way around this that I have totally missed? I have read up on people successfully reclaiming a good few years prior to 2005 and just don't know where to go from here. I read your thread about FLA and not many have faith in going to these.

Are the FLA and the FSA the same people? Shall I write one more letter to MBNA? Why would MBNA tell me to write to the FOS if they knew they weren't covered?

Am I being a total idiot here? Please answer truthfully but I really just don't get it and thought the FOS would be able to help us

thanks xx

di3004

maxdp wrote: »

Hi Jenny

Have a look here it may help you.http://forums.moneysavingexpert.com/showthread.html?t=1596473

Silly me Sorry Max.........:o, I knew I missed something, must be all te excitement of the easter eggs getting to me........:rotfl::o;).

Jenny you will find the link very helpful what Maxdp posted.:DXX

di3004

Toffee_Penny wrote: »

Hi again, hope no one feels sick from eating too many creme eggs (they are the best though aren't they? ) Been pondering over FOS response for MBNA ppi reclaim from 2001 when they said they can't help it's too early, MBNA weren't covered.

I researched the net last night and most of today and I have found out about GISC, FLA, FSA, CIA, DFS, FBI and SAS :rotfl: ahem, sorry but I really am getting puzzled

I cannot find anyone who has had the same reaction from the FOS over MBNA to read up on just lots of success stories. I know MBNA were covered by GISC so why can't the FOS help me?

The FOS are not open tomorrow (bank holiday) but I wanted to ask is there a way around this that I have totally missed? I have read up on people successfully reclaiming a good few years prior to 2005 and just don't know where to go from here. I read your thread about FLA and not many have faith in going to these.

Are the FLA and the FSA the same people? Shall I write one more letter to MBNA? Why would MBNA tell me to write to the FOS if they knew they weren't covered?

Am I being a total idiot here? Please answer truthfully but I really just don't get it and thought the FOS would be able to help us

thanks xx

Hiya Toffee Penny, hope your enjoying your easter despite the worry you have here.;)

Did you receive my PM?:D

There is no harm in writing to MBNA again, go for it and hope for the best.
You never know until you try, or you may be agonising if you should have sent them one more letter or not, go for it hun and good luck.:AXX

Toffee Penny, have you told the FOS they were covered by GISC?
If you have any paperwork with GISC sent it to the FOS.
Sometimes this is missed, let them know, if this is the case they should tell you to resubmit the case, I would tell them this to save you time, and to save you writing to MBNA again, tell them MBNA would not have told you to move this on to the FOS otherwise X

amersall

terry1962 wrote: »

Thanks for quick reply yes i do have policy still.So ill try the Broker first and see how it goes hopefully one of the three will be responsible,its only £1033 but is a lot to me

many thanks

terry

you keep at em!!! good luck

Toffee_Penny

Hi Di yes received your pm

thanks for the advice as always xx

I hope I am not the only sad one on here who thinks about these things when lying awake at night :rolleyes: but I just couldn't sleep, I'm not sick with worry I suppose it has just fell at a bad time with Good Friday and Easter Monday and not being able to get through to anyone to explain further.

you know how it is, dog with a bone this ppi malarky :rolleyes::D

di3004

Toffee_Penny wrote: »

Hi Di yes received your pm

thanks for the advice as always xx

I hope I am not the only sad one on here who thinks about these things when lying awake at night :rolleyes: but I just couldn't sleep, I'm not sick with worry I suppose it has just fell at a bad time with Good Friday and Easter Monday and not being able to get through to anyone to explain further.

you know how it is, dog with a bone this ppi malarky :rolleyes::D

Toffee penny

Thank you for your lovely pm too, just received it now.:AX

I would defo give the FOS a ring first thing Tuesday, let them know about GISC, see what they say about this, hopefully they will ask you to resubmit this back to them, fingers crossed.;)

I know it can be very stressful, thinking there is nowhere else to turn, but give them another try, like you said MBNA did inform you of the FOS afterall, good luck. XX

maxdp

Toffee_Penny wrote: »

Hi Di yes received your pm

thanks for the advice as always xx

I hope I am not the only sad one on here who thinks about these things when lying awake at night :rolleyes: but I just couldn't sleep, I'm not sick with worry I suppose it has just fell at a bad time with Good Friday and Easter Monday and not being able to get through to anyone to explain further.

you know how it is, dog with a bone this ppi malarky :rolleyes::D

Hi Toffee Penny

You know we are always here for you. Di More than most tee hee.x Am sure that we can support you and we send you lots of love.x