Companies in Default/FSCS Claims - Picture, London Scottish, Twopart

di3004

pinknico wrote: »

What was your original PPI amount with Two part Di?

Hi Pinknico, just managed to get back on here now.....

The actual loan was £43000 and the PPI £8492.50.;)

Totalling = £51,492.50
That was taken out brokered Twopart ltd/lender nemo Nov 2005

Then July 2006 refinanced Nemo = and loan advance of £12K, then they carried over the balance of £43559.25.

The new loan advance then worked at:
£55K then PPI at £10,862.50
Totalling= £65,862.50.

(loan advance settled by remortgaging in Aug 2007) then the PPI on this one resolved Oct 2007.

marshallka

di3004 wrote: »

Hi Pinknico, just managed to get back on here now.....

The actual loan was £43000 and the PPI £8492.50.;)

Totalling = £51,492.50
That was taken out brokered Twopart ltd/lender nemo Nov 2005

Then July 2006 refinanced Nemo = and loan advance of £12K, then they carried over the balance of £43559.25.

The new loan advance then worked at:
£55K then PPI at £10,862.50
Totalling= £65,862.50.

(loan advance settled by remortgaging in Aug 2007) then the PPI on this one resolved Oct 2007.

But you got a rebate of the PPI amount of near on £7,6K didn't you Di and the interest on the ppi was also cancelled totally. In fact its the only company I have ever known to have done this TBH. This meant that the PPI cost you in total (including the interest) about £800... if they are refunding the whole amount and interest on it too then you are quids in.

Did you send them the statement detailing it all that you posted the other week.

pinknico

Hello Di, you poor thing they are certainly giving you the run around! Hope you get more sense out of the FSCS!

di3004

marshallka wrote: »

But you got a rebate of the PPI amount of near on £7,6K didn't you Di and the interest on the ppi was also cancelled totally. In fact its the only company I have ever known to have done this TBH. This meant that the PPI cost you in total (including the interest) about £800... if they are refunding the whole amount and interest on it too then you are quids in.

Did you send them the statement detailing it all that you posted the other week.

That is correct and they have these details, they have also confirmed they do already have the statement of accounts of payments from Nemo, goodness knows how many times we have sent them, both to the FSCS and Deloittes.

pinknico

Di ,did your paperwork say PPI rebate or loan rebate?
once Deloitte have the correct information it will sort it self out, if they would just acknowledge they had the info already!!

marshallka

Di, its all here
In your case
PPI = £8492.50

Number of months ran for (ie, length of time the original agreement ran = 9)

Rebate applied to the account (for 51 months of unused cover) = £7644.43

Therefore the 9 months of cover cost £848.07

The above rebate (£7644.43) was then applied to the earlier figure (ie the balance of the account = accured interest), and the result was the amount that was used to settle the original agreement.

In your case
Balance = Accrued int : £51203.68 - £7644.43 (the rebate of the PPI).

Figure used to settle the agreement = £43559.25.


Now if you look at the settlement that was carried over then you can see that you only paid the £800 quid and nothing more...because of the way in which the FSCS compensate it looks like you are being paid the whole premium back and interest. It only cost you £800 (with interest) so you will be quids in and the wait will be worth it.

di3004

pinknico wrote: »

Di ,did your paperwork say PPI rebate or loan rebate?
once Deloitte have the correct information it will sort it self out, if they would just acknowledge they had the info already!!

Cheers Pinknico.
Yes PPI.;)

That's the whole point Deloittes have confirmed they have the Nemo calculations and received the info weeks ago, this is why I really don't understand still why they require the details from C&G, when asked she did not give an answer to that, but only that she still requires the mortgage details......confusing isn't it?

di3004

marshallka wrote: »

Di, its all here
In your case
PPI = £8492.50

Number of months ran for (ie, length of time the original agreement ran = 9)

Rebate applied to the account (for 51 months of unused cover) = £7644.43

Therefore the 9 months of cover cost £848.07

The above rebate (£7644.43) was then applied to the earlier figure (ie the balance of the account = accured interest), and the result was the amount that was used to settle the original agreement.

In your case
Balance = Accrued int : £51203.68 - £7644.43 (the rebate of the PPI).

Figure used to settle the agreement = £43559.25.


Now if you look at the settlement that was carried over then you can see that you only paid the £800 quid and nothing more...because of the way in which the FSCS compensate it looks like you are being paid the whole premium back and interest. It only cost you £800 (with interest) so you will be quids in and the wait will be worth it.

That's right and this is what Deloittes have hold of as well.

pinknico

If they have the figures of the rebate I doubt they will overpay and poor Di if they do and then has to pay it back.

There is an awful part on the letter FSCS send with the cheque that says we reserve the right to revoke the decision letter and review your claim if the compensation has been calculated wrongly or should not have been paid.

I was almost too scared to bank mine in case they had overpaid!!

di3004

pinknico wrote: »

If they have the figures of the rebate I doubt they will overpay and poor Di if they do and then has to pay it back.

There is an awful part on the letter FSCS send with the cheque that says we reserve the right to revoke the decision letter and review your claim if the compensation has been calculated wrongly or should not have been paid.

I was almost too scared to bank mine in case they had overpaid!!

Its best to be safe than sorry isn't it hun?

I think because they don't seem to know what they are doing, anything can go wrong, if they did overpay I would have to tell them, cos I could not live with myself, just hope they look into everything properly first time, fingers crossed hey?;)