Liz reclaiming PPI on old loan

Frith

FINALLY!! A letter from HSBC. They say they are sorry their last reply did not settle things for me but they aren't going to do anything more now it is in the hands of the FOS. Fair enough, I suppose.

A bit more waiting, then!

L

di3004

ACEY wrote: »

FINALLY!! A letter from HSBC. They say they are sorry their last reply did not settle things for me but they aren't going to do anything more now it is in the hands of the FOS. Fair enough, I suppose.

A bit more waiting, then!

L

Hi Acey, good luck with this then and I'm sure you will receive a better result from the FOS.;)

Frith

Thanks, Di3004!

di3004

ACEY wrote: »

Thanks, Di3004!

Your welcome hunni.:beer:;)X

bean64

Acey,

If you made a single payment on your ppi in 2000 of £42...........

Forget the 8%, you will be entitled to the interest rate on the loan assuming it was a single premium fixed term policy.

Quick off the top of the head calc:

115 months interest at about 50p per month (loosely based on 10% APR)

Month 1 should be worth approx £57 plus your original £42 plus simple interest at 8% making a total of about £107, now you made 6 payments so maybe in the region of 5 or 6 hundred to come your way or offset against the debt owed.

This is of course dependent on the APR still being applied to the amount outstanding since the inception date!!

Dont hold me to these figures, but I think they are in the ballpark, but the question arises.......why didnt you just claim againt the PPI instead of defaulting on the loan?

Frith

Still nothing from the FOS....

di3004

ACEY wrote: »

Still nothing from the FOS....

Chase them up and ring them, good luck.;)

Frith

Have done so, Di3004. In their previous letter they said they would get back to me "certainly within 1-2 months" and I've had nothing. I spoke to quite a snotty piece on the phone and didn't really make any progress. :-( To be fair, she did say she was still waiting for something from HSBC (which doesn't surprise me!).

di3004

ACEY wrote: »

Have done so, Di3004. In their previous letter they said they would get back to me "certainly within 1-2 months" and I've had nothing. I spoke to quite a snotty piece on the phone and didn't really make any progress. :-( To be fair, she did say she was still waiting for something from HSBC (which doesn't surprise me!).

How annoying for you.
Maybe send them an email to ask for an update on HSBC, just hope they do get back to you on this, its so frustrating all the waiting isn't it hun?

Frith

I've had a letter today about reclaiming bank charges (put the claim in years ago, not long before it went off to the high court). The letter says I am no longer entitled to claim back bank charges. It looks like a standard letter.

Then it refers to these charges (i.e PPI) and that I am not entitled to them either!

L