PPI Reclaiming Discussion part 4

di3004

toriitom wrote: »

Hi Everyone,

I regularly read Martins Newsletter and I rarely post on the forums as I usually can find the information I want from other postings. This time I’m stuck; I have searched and I am unable to find the answer to my problem. I am hoping that someone will be able to guide me through the final part of my claim.

I took out a loan of £10000 in January 2005. At that time, I was not working but the salesperson did not bother to check.

Initially the Lender refused to entertain my claim saying that all their staff is so well trained that they would not have missed asking the question. Also, they stated that when I signed the forms for the loan, I should have read all the information regarding the loan and the PPI.


When I started to chase the Lender for the return of the PPI, I realised that the Lender had added the PPI charge to the loan capital and then charged me 5.9% APR on the whole sum, i.e.

£10000 + £2487.80 = £12487.80 @5.9%APR = £14397.00 / 60 = £239.95 pm.


After proving to the Lender that I had not been working for a number of years they have agreed to repay me the PPI but their figure is £19##.## about £500 less that what they initially added for PPI.


My dilemma is (1.) which figure do I claim back; is it the £2487.80 (PPI) or £2867.99 (PPI + 5.9%) and (2.) can I charge them the 8% interest on the PPI (which ever one is right)?


If someone with the knowledge of these matters could assist me I would be forever grateful.

Tom

Hi Tom

I am hopeless at working out calculations to be honest......:o, but someone should post up with knowledge of this shortly with a bit of luck.

These Single policies are a total rip off and if the business do not put this right for you, I'm sure the FOS will, if you decide to go this direction, for example if your not happy with the offer or if you ask for the higher amoung and they do not do this for you, etc.

I would personally try for it all, but this is up to you Tom, either way we are all behind you and wish you luck with this. Good luck.;)

Portofino_2

Di, you are such a wee trooper x

what would we do without you? :j

chickpee

Morning!

Just another small update.

We received a letter from Deloitte today about Picture which says

"You have submitted a compensation claim to the FSCS Scheme. To try and minimise the delay in assessing your claim, FSCS has forwarded your claim onto Deloitte to begin processing your claim.

We can confirm that we have received your application form from FSCS for your claim against Picture and the initial reviews have now been completed. We will therefore begin processing your claim shortly and will contact you should any further information be required.

Should you require further information please do not hesitate to contact us"

Fingers crossed this will be settled shortly - I will let you know what happens.

busbyh

chickpee wrote: »

Morning!

Just another small update.

We received a letter from Deloitte today about Picture which says

"You have submitted a compensation claim to the FSCS Scheme. To try and minimise the delay in assessing your claim, FSCS has forwarded your claim onto Deloitte to begin processing your claim.

We can confirm that we have received your application form from FSCS for your claim against Picture and the initial reviews have now been completed. We will therefore begin processing your claim shortly and will contact you should any further information be required.

Should you require further information please do not hesitate to contact us"

Fingers crossed this will be settled shortly - I will let you know what happens.

Thanks chickpee:T,Sounds good to me, shouldn't be too long from what the letter says, hopefully the next one will be the cheque:j
Keep us posted
busbyh
xx

What no are you on the list
x

pinknico

I got the same letter today as well. Would like to know if process just means calculate as initial reviews have now been completed or am I being optomistic again! Hope Dyalysis has this letter.

mathewuk

Hi all

Can anyone kindly suggest me a good company to reclaim my loan PPI. I am not sure if I can do all this by myself. So want to go through any company that has good reputition of reclaims.

Has anyone in this forum used a company and got their claim successfully.

Your suggestions are highly appreciated.

Many thanks,
Mat.

busbyh

pinknico wrote: »

I got the same letter today as well. Would like to know if process just means calculate as initial reviews have now been completed or am I being optomistic again! Hope Dyalysis has this letter.

Hi pinknico
I'm taking processing to mean you are almost there :D and it's just a matter of putting it through the system and giving you the final figure for acceptance- we have to stay optimistic
xx:D

showergirl

Hi everyone,

Nassie has just rang to say she has received a letter from the FOS and they are now writing to A&L.

Let's hope they come back with an offer.

Good luck to all who have claims with Picture.

I hope you all have good news soon

busbyh

mathewuk wrote: »

Hi all

Can anyone kindly suggest me a good company to reclaim my loan PPI. I am not sure if I can do all this by myself. So want to go through any company that has good reputition of reclaims.

Has anyone in this forum used a company and got their claim successfully.

Your suggestions are highly appreciated.

Many thanks,
Mat.

Hi
you don't need to use a company to claim. You can do it yourself with the help of this site. You need to be very careful as on a previous post a company was used and took most of the compensation claimed as their fee.
Read back on previous posts, it was only on a couple of days ago.
You have lost enough money already with the PPI - don't lose anymore
lol
busbyh;)
xx

jodyd1

Hi i'm new to this site and would appreciate some help. I recently followed Martins checklist regarding the mis selling of PPI's and discovered that I had indeed been mis sold a PPI by Firstplus. I downloaded the first letter and have received a reply which says that they (Firstplus) didn't sell me my insurance a broker did, (Central Capital Ltd), my details have now been forwarded to Central Capital. Do I wait for a response from them or take it further with Firstplus??
Thanks
Jo