PPI Reclaiming Discussion part 4

amersall

tomd3376 wrote: »

Hi, I'm new here so forgive me if I'm in wrong place.
I sent letter one to Black Horse to reclaim PPI on 2 loans. As expected they refused and stated my fault for not reading small print on one of them but said that because I had taken out finance through car salesroom I have to go through them to reclaim.Problem is they closed about 2 years ago so do I still send letter 2 to Black Horse or just forget it?
Many thanks
Tom

hi there, someone will be along soon i am sure who will let you know how to deal with this

Cheshire_cat_2

Hi

I took out a loan through easymoney in 2004 and PPI of £5000 was added to the loan through a company called Cardiff Pinnacle. The loan was repaid in full last year as I remortgaged. I wrote to Cardiff Pinnacle last year to claim back my missold PPI but was told it hadn't been missold and that was the end of the matter so I didn't take it any further. Is it too late now to try to cary the clam on?

Jman316

amersall wrote: »

were the ppi1 and ppi2 taken out in june 2001? so you paid both of these together with two seperate amounts of ppi, sorry but i dont understand why you have a reloan ppi2 but still paid ppi1 as well could you clarify please

Yes they were taken out on the same loan. ppi1 was the normal ppi. and ppi2 was some sort of life insurance "critical insurance".

So to clarify both of these ppi's were for one loan before they got consolidated!

Naturally we assume that when the first loan was consolidated the rest of the ppi was too!

I will also add that in the reimbursment letter i got from the bank they have included all three in their final settlement figure!!

I hope this makes it clearer.

amersall

Jman316 wrote: »

Yes they were taken out on the same loan. ppi1 was the normal ppi. and ppi2 was some sort of life insurance "critical insurance".

So to clarify both of these ppi's were for one loan before they got consolidated!

Naturally we assume that when the first loan was consolidated the rest of the ppi was too!

I will also add that in the reimbursment letter i got from the bank they have included all three in their final settlement figure!!

I hope this makes it clearer.

think i understand now, was the ppi1 payment made as well as the ppi2, to total was £43.88 for 29 months is that right? then the third ppi was £29.05 from dec o3 to present day?

Jman316

amersall wrote: »

think i understand now, was the ppi1 payment made as well as the ppi2, to total was £43.88 for 29 months is that right? then the third ppi was £29.05 from dec o3 to present day?

Thats correct. It was paid for 29 months.

The third ppi was paid from dec 03 till november 07.

amersall

Jman316 wrote: »

Thats correct. It was paid for 29 months.

The third ppi was paid from dec 03 till november 07.

i got there in the end, just doing calc wont be long

Jman316

amersall wrote: »

i got there in the end, just doing calc wont be long

Brilliant cant wait. Just to let you know , someone on this forum was saying that since i paid 29 installments out of 60, the rest of the 31 will be calculated as a lump sump.

Anyway i am sure you know better!
look forward to your reply!

di3004

Cheshire_cat wrote: »

Hi

I took out a loan through easymoney in 2004 and PPI of £5000 was added to the loan through a company called Cardiff Pinnacle. The loan was repaid in full last year as I remortgaged. I wrote to Cardiff Pinnacle last year to claim back my missold PPI but was told it hadn't been missold and that was the end of the matter so I didn't take it any further. Is it too late now to try to cary the clam on?

Hello there

If that was not the final response, you can write back to them and ask them to reconsider, however there is a timescale for this, you could though write to them again and give it another go, if they do not uphold in your favour, you can then take to the financial ombudsman service (FOS), the final letter from the bank should give these details in the final decision, good luck.;)

amersall

Jman316 wrote: »

Brilliant cant wait. Just to let you know , someone on this forum was saying that since i paid 29 installments out of 60, the rest of the 31 will be calculated as a lump sump.

Anyway i am sure you know better!
look forward to your reply!

hi there i am back, and yes you get remaining ppi back, and i dont know best lol, there are far more knowledgable people on here than me, but i like to do my bit. so here goes----ppi 43.88 over the 29 months= £1,919.04p the second one at £29.05 from dec 03 to oct o9 = £2,553.71p hope this helps and well done plus as i say you will get the remaining ppi back from the surplus of the 60 months. these payments are the ppi plus 8% interest ( thanks a lot to pinknico as it was with her help previous i now know how to do the bank charge calc thanks chuck xxx)

Jman316

amersall wrote: »

hi there i am back, and yes you get remaining ppi back, and i dont know best lol, there are far more knowledgable people on here than me, but i like to do my bit. so here goes----ppi 43.88 over the 29 months= £1,919.04p the second one at £29.05 from dec 03 to oct o9 = £2,553.71p hope this helps and well done plus as i say you will get the remaining ppi back from the surpless of the 60 months

this is brilliant! do you know what the interest will be on the remainder of the 60 months i.e £1360.28 plus 8% interest.?

Also the date after 29 payments would be Nov 2003.

As a side note the bank offered me £5067 as a final agreement! so your total will help me in how much they underpaying me!!