PPI Reclaiming Discussion part 4

sacbaby37

pinknico wrote: »

Trust me you do not need to take them to court, and if you know what charges they owe you you do not need to send for a SARS just send a copy of charges to the FOS with the complaint form. They will contact capital one and then Capital One will say ok we will pay it all.

Hi Pink so do i send copies of all my statements to the FO? xxx

pinknico

Incipience wrote: »

Thinking of a good book title. PPI Reclaiming For Dummies, you think I could get it published?

It would be a best seller Insipience. Almost wish my claim was with First Plus and not Picture:D

JAMMYD

Not sure if I am posting on the right Thread!
I wanted to ask a question, if FOS find in your favour, the 8% statutory interest, is it paid on the total sum of the PPI amount, or is it paid per annum? ie, for 3 years or more?

dreamer33

JAMMYD wrote: »

Not sure if I am posting on the right Thread!
I wanted to ask a question, if FOS find in your favour, the 8% statutory interest, is it paid on the total sum of the PPI amount, or is it paid per annum? ie, for 3 years or more?

If FOS find in your favour they will add interest + 8% interest to the ppi amount. It will be paid from the time you have been without the funds.

Maybe others could clarify this too.

Incipience

Ben, you could try to convince A&L to accept the PPI claim and ofset it against the arrears on the condition that they bring the account back to A&L from the DCA.

Also if they are admitting mis-selling you may have grounds for having the loan written off. I think before you accept, talk to the CAB as Marshy said and look at all the options available to you.

Personally I really enjoy dealing with DCA's as they make so many mistakes in their pursuit they tend to forget about the finer details of things.. like getting an actual copy of the credit agreement.

If A&L registered a default against you, you can now dispute this as they would of registered it to include the PPI amount.

I reckon you have some good options here, and I would, if I was you really look in to this.

bennymanc

Incipience wrote: »

Ben can you give us more details:

PPI Amount
Loan Amount
Date Started

£10k loan, PPI was for 2308, taken out in Jan 2005 for 5 years

Incipience

dreamer33 wrote: »

If FOS find in your favour they will add interest + 8% interest to the ppi amount. It will be paid from the time you have been without the funds.

Maybe others could clarify this too.

The 8% is in most cases an annual amount, so for every £1000 you have been without this you would get back £80 per year

so if the PPI was 10,000 you are looking at £800 a year

Incipience

bennymanc wrote: »

£10k loan, PPI was for 2308, taken out in Jan 2005 for 5 years

Ben, it was a regulated loan, and you have an admission of mis-selling.. I know that I would go for the whole agreement to be written off.

pinknico

sacbaby37 wrote: »

Hi Pink so do i send copies of all my statements to the FO? xxx

It is easier if you put the amount and date in a list . Have you read reclaiming Credit card charges in "reclaim £1000's.There is a form where you enter amounts date and it adds 8%? You can then print this off and send this instead. Saying that if sending statements is easier for you just make sure you ask for the 8% interest

bennymanc

Incipience wrote: »

Ben, it was a regulated loan, and you have an admission of mis-selling.. I know that I would go for the whole agreement to be written off.

Thanks
gosh alot to think about here!!!! yeah i think im gonna get in touch with CAB before i do anything else. I was hoping it would be a clear cut case but it seems there a number of scenarios about what they and I can do!!!