Credit Card & Loan PPI Reclaim

liverpool1988

it seems likely that some type of insurance or other figure is being added to the loan repayment amount so therefore you do have to find this out. As if it is PPI alone that is taking the monthly repayments up to this figure this is an extortionate figure!

di3004

AngryDog wrote: »

What would be best do you think? To start a PPI claim, do I need a SAR or will a CCA suffice?

Also, my loan with Northern Rock was a consolidation loan - it paid off another Northern Rock Loan at the time and other debts. I will have to try and get the information for that.

Out of interest - My NR loan - it was for ~£20,000. I was making some large over payments. A year ago my settlement figure was £19,461.76. I paid around £8000 off this so only owe around £11,000 now. Will my over payments go against me?

Thanks!

Hi there.;)
Missed this yesterday sorry.

In my opinion an SAR is a good idea, on all mine I have requested for them, in case there is anything to help support my reclaims.

It is up to you, yet if you decide to take your complaints to the ombudsman later on, if it did not go your way then, you may have some useful info within the SAR to send to them as well.

The overpayments should not go against you.

AngryDog

Thanks Di

I will get a SAR - at least then I should have everything I need, and I'm not waiting for things every time.

What do you think to my other messages in this thread?

di3004

AngryDog wrote: »

Thanks Di

I will get a SAR - at least then I should have everything I need, and I'm not waiting for things every time.

What do you think to my other messages in this thread?

Oops forgot to add the SAR template link for you......:o, this is here.
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Will go back to read your other ones now as well hun.:D;)

di3004

AngryDog wrote: »

I received an interesting letter from Northern Rock yesterday! I made £13,000 worth of payments on this loan in the last 12 months. I took out the loan for £20,000. Its amazing how you can make so many panyments yet it hardly comes off the loan - interest, gotta love it! £13,000 of payments (including the monthly DD), works out at £8,000 paid off.

However, the really interesting part was the Insurance - listed as being over £9,000! Thats nearly half of what I borrowed!!!!

Blimey that is a lot of money there :eek:.

Okay, I am hopeless with calculations but basically on a settled finance, you should receive back everything you have paid in ppi, plus interest etc, so basically it should work out a bit more you should get back.

An example on one of mine, the PPI alone with another company was almost £11K, I received back just under £13K, that was a settled loan.

However, Maxdp, also posted a very useful thread on how the FOS works out refunds, hope you find this will give you some idea, and maybe someone else will post up that know more on this bit for you.
Link here
http://forums.moneysavingexpert.com/showthread.html?t=1596473

There is a also a calculator on here somewhere, if I find it I shall post up that for you as well.;)

di3004

Loan calculator here as well.
http://www.moneymadeclear.fsa.gov.uk/tools.aspx?Tool=loan_calculator

AngryDog

Hi Di,

I ran the calculator and came up with the figures above. I think I'm being "taken for a mug" somewhere along the line! To be honest, any refund and reduction in my monthly payments will be a bonus to me!

I've started my SAR letters thanks

Not sure of the address to send to - Egg suggested I post to their CRO in Derby, and their addresses on here dont match that? Plus the NR addresses, I am unsure where to send to?

Thanks!

di3004

AngryDog wrote: »

Hi Di,

I ran the calculator and came up with the figures above. I think I'm being "taken for a mug" somewhere along the line! To be honest, any refund and reduction in my monthly payments will be a bonus to me!

I've started my SAR letters thanks

Not sure of the address to send to - Egg suggested I post to their CRO in Derby, and their addresses on here dont match that? Plus the NR addresses, I am unsure where to send to?

Thanks!

Every penny helps doesn't it hun?;)

Good on you, your doing good with this....:T:T.

Will check out the addresses for you now.

di3004

Hmm not sure about Derby to be honest, in our address thread on this site, we have a few but not a Derby one, have come across these for EGG, and for the SAR I assumed it would be the 2nd address:

Egg
1 Waterhouse Square
138-142 Holborn
London
EC1N 2NA

Egg - Statements
Jenny Gordon
Data Protection Manager
Egg PLC
1 Waterhouse Square
138 – 142 Holborn
London
EC1N 2NA
...........................................................................................

For Northern Rock we have these listed:

NORTHERN ROCK RISK MANAGEMENT,
CREDIT SCORING,
NORTHERN ROCK PLC,
NORTHERN ROCK HOUSE,
REGENT CENTRE,
GOSFORTH,
NEWCASTLE UPON TYNE,
NE3 4PL
TEL: 0845 6008401

NORTHERN ROCK PLC SOLAR HOUSE,
7 ADMIRAL WAY,
DOXFORD PARK,
SUNDERLAND,
SR3 3XW

AngryDog

Thanks Di - Do you think I should send the SAR to the second NR address?

Every penny does help!