PPI Reclaiming Discussion part 4

goaliesmum

marshallka wrote: »

Good news for you goaliesmum. I am glad that you are able to pay for your doggies op with it too. I had vet bills this year too of £800 unexpected and it was a godsend to be able to afford (even if we did pay on the overdraft for a while). I have now taken out insurance for them both again as you never know when you are going to be met with vet bills. Hope your doggie goes on OK...;)

Thanks marshallka, most of the credit card debt is doggie number 1's bills over the last 2 years, treating an unresolved eye condition, she subsequently lost the eye, huge bills. She has just had another op last week over £400, cannot get them insured, age and pre existings, assorted lumps, she is now in smashing condition and the most comfortable she has been for a whiile. Quote for doggie number 2 is £650 but not as urgent. Oh and me poor cat, my best mate, has cancer of the soft palate but this is inoperable but he will be getting a supersoft bed for Christmas and lots of special food to tempt him with.

goaliesmum

di3004 wrote: »

Fantastic :T:T:j:j
Congratulations and well done, so happy for you.:beer:

Thanks Di

HSBC have been very quick, only 9wks tomorrow since 1st letter sent, hubby is in shock :eek:

218bhp

Here's a question for you.

If you borrowed £10k in December 2007 which consisted of £8k funds and £2k PPI, made payments as agreed until May 2008 before settling the account in full, how would a PPI claim work?

Would you get the PPI portion of those 5 monthly payments + interest? Or would you get £2k + interest.

The latter would of course be preferable, but I think the former is most likely?

Anyone??

goaliesmum

218bhp wrote: »

Here's a question for you.

If you borrowed £10k in December 2007 which consisted of £8k funds and £2k PPI, made payments as agreed until May 2008 before settling the account in full, how would a PPI claim work?

Would you get the PPI portion of those 5 monthly payments + interest? Or would you get £2k + interest.

The latter would of course be preferable, but I think the former is most likely?

Anyone??

Hi 218bhp

My understanding is you would get the 5 payments + interest @ 8% - certain

When the loan was settled there will have been given a rebate of ppi, however this rebate will not have been equivalent to a claim for misselling and removing it completely and is of premiums only not interest, so the amount of your settlement would still be inflated by some of the PPI element and interest, so if a missold is upheld you could be due a small amout back from this ( this is only from what I have learned from reading so am prepared to be corrected)

hope that helps

DanDaniel

thanks marshalka,

it was a loan with Black Horse Finance. Only problem is with it being ten years ago i do not have any paperwork/account numbers. I know i was basically told to take the ppi or not bother applying for the car finance. Is it worth pursuing do you think ??

Thanks for time

di3004

DanDaniel wrote: »

thanks marshalka,

it was a loan with Black Horse Finance. Only problem is with it being ten years ago i do not have any paperwork/account numbers. I know i was basically told to take the ppi or not bother applying for the car finance. Is it worth pursuing do you think ??

Thanks for time

Hi there

I hear that there have been much success with BH recently, even with older claims.

I would if you can ring them to ask them for details by giving them as many as your details as possible if you can, hopefully they will provide them to you.
Some are more lenient than others.

Also if they fob you off when your trying to reclaim for a refund of the PPI due to them not being governed, or covered by GISC where the FSA taken over in Jan 2005, you can always try their insurer/underwriter direction, some of us are doing this now.

If this account is settled, if you have any old banking statements handy, you may find the loan account numbers next to the monthly repayments.

How long ago did you settle this finance?
If the last 6 years, the chances are if the repayments were taken out of your bank account, and you bank online this should allow you to go back 6 years, where this way you should be able to retrieve the account number details.

You only require these to go ahead with the reclaiming, hope you find this of some help.;)

joncow75

goaliesmum wrote: »

Thanks Di

HSBC have been very quick, only 9wks tomorrow since 1st letter sent, hubby is in shock :eek:

Congratulations goaliesmum, you have given me great hope too!!

Enjoy your payout and i hope the op goes well for your dog

tiggrae

218bhp wrote: »

Here's a question for you.

If you borrowed £10k in December 2007 which consisted of £8k funds and £2k PPI, made payments as agreed until May 2008 before settling the account in full, how would a PPI claim work?

Would you get the PPI portion of those 5 monthly payments + interest? Or would you get £2k + interest.

The latter would of course be preferable, but I think the former is most likely?

Anyone??

it really does depend upon how they worked out your rebate figure on early redemption - some have worked out the ppi element to be 88% of the ppi you have to pay on early redemption - otherwise known as daylight robbery !!!

tiggrae

DanDaniel wrote: »

thanks marshalka,

it was a loan with Black Horse Finance. Only problem is with it being ten years ago i do not have any paperwork/account numbers. I know i was basically told to take the ppi or not bother applying for the car finance. Is it worth pursuing do you think ??

Thanks for time

this is a tough one - although Black Horse is part of Lloyds they weren't actually covered by the Financial Ombudsmsna until 2005, some people have taken their complaint to the FOS for 'out of jurisidiction complaints' but at them moment I don't think it's clear what criteria they apply and I don't think it's a good idea to start court proceedings as they'de probably request it be struck out as being 'time barred' under the Limitations Act and then you'de be liable for their costs.

Did you see the loan through to the end or did you redeem it early?

triticale

Well...got my letter MUCH earlier than expected (had guessed it would come after Christmas) this morning! :j

BoS 'have decided to pay an amount which will put me back in the position I would have been had I not taken the PPI, without admission of liability and in full and final settlement of complaint' etc.

Next letter will give actual figures, obviously I need to check them before getting too carried away :rolleyes:. Payment will be made within the next month.

They mention that payment will be used against the loan 'where an account is in arrears'. I assume that means only if I have missed payments, not just having a normal balance on my loan?

I haven't had a single late or missed payment, so I should just get the cheque, right?

This is it!!! Onwards and upwards to debt-free-dom!! :T Roll on 2010, a new start...:beer:

Thank you for all your help, especially Di, marshallka, goaliesmum and amersall :santa2: