PPI Reclaiming Discussion part 4

lucieloo

hi tiggrae i have emailed you,

lucieloo

hi tiggrae i have some figures do you think its worth pursuing

loan 1.took in 2001. 11000, ppi 2693.90 total loan 13693.90.over 126months.ppi=23.89per month x9.total monthly payment 186.29. paid off in 2002, 13693.19 at 11.9%apr. 0.9440% monthly interest rate.

loan 2. took in 2002. 18000/ppi 4408.20 total loan 22408.20.over 126months.ppi =64.13per month x 6.total monthly payment 328.39. paid off in 2002, 22408.28 at 13.9%apr. 1.0930% monthly interest rate

if possible could you give me a rough guess as to what id get back? i have tried but got in a mess.
my rough guess is
loan1 about 2900
loan2 about 4200
is this right? sorry to bother you but if it this amonts i would definately pursue.

marshallka

lucieloo wrote: »

hi tiggrae i have some figures do you think its worth pursuing

loan 1.took in 2001. 11000, ppi 2693.90 total loan 13693.90.over 126months.ppi=23.89per month x9.total monthly payment 186.29. paid off in 2002, 13693.19 at 11.9%apr. 0.9440% monthly interest rate.

loan 2. took in 2002. 18000/ppi 4408.20 total loan 22408.20.over 126months.ppi =64.13per month x 6.total monthly payment 328.39. paid off in 2002, 22408.28 at 13.9%apr. 1.0930% monthly interest rate

if possible could you give me a rough guess as to what id get back? i have tried but got in a mess.
my rough guess is
loan1 about 2900
loan2 about 4200
is this right? sorry to bother you but if it this amonts i would definately pursue.

Hi lucieloo, just a heads up for tiggraes calculations here in that they would have been settled with rule 78 for the years they were taken out so need to be calculated using rule 78.:)

Good luck.

lucieloo

how do i do that???? lol does that mean it would be less?

laalaa41

Anyone at the point where the FOS have told Egg to pay but Egg seem to be ignoring them? Im waiting for a refund due 18th Jan which was the end of the 8 week time limit the FOS gave them.

di3004

laalaa41 wrote: »

Anyone at the point where the FOS have told Egg to pay but Egg seem to be ignoring them? Im waiting for a refund due 18th Jan which was the end of the 8 week time limit the FOS gave them.

Hi hun

Hopefully someone will post up who have had dealings with EGG in regards of the refunds.
My hubby in the same situation as you but different bank, the FOS confirmed on Monday just gone they were to contact the bank and get back to my hubby with an update.

Fingers crossed for you.;)X

lucieloo

also i have scanned through my terms and conditions and it has no mention of rule 78. it just says something about settling and consumer credit act 1974 and consumer regulations 1983

marshallka

lucieloo wrote: »

how do i do that???? lol does that mean it would be less?

No, if you won misselling then you would be put back into the postion as if you never had the PPI but the calculating is different when rule 78 is used and can be very confusing. Also did you get a rebate of insurance when you paid the loans up?

marshallka

lucieloo wrote: »

also i have scanned through my terms and conditions and it has no mention of rule 78. it just says something about settling and consumer credit act 1974 and consumer regulations 1983

Which basically means rule 78.;)

robbedofmymoney

what about asking MSE to start a petition at number 10 to get the goverment to force the FSA to act against the Banks and their delaying tactics, in particular the "state owned banks" i'm sure it would get a lot of support.
and could make a difference to all those people who will be claiming in the future.
http://petitions.number10.gov.uk/list/open?cat=726