PPI Reclaiming Discussion Part 5

amersall

myfriendmartin67 wrote: »

Loan 3 2005/6 not sure of date as not on paperwork
(a)loan £10300.00
(b)Term 60 mths
(c)Total amt payable £12565.89
(d) instalments repayments £209.43
APR 8.4%
OTHER FINANCIAL INFO
(A) Purpose & amt loan
loan (a+b) (a) up to £6894.53 for refin acc no ******
(b) cash loan of £3405.47 (plus any balance of loan (a) not used for refin) for REFINANCE DEBT THIS BANK
(B) total charge £2265.80 comprising (i) int £2265.80 (ii) admin fee £0
APR int applied to loan acc when loan first drawn this is fixed ann rate int of 8.12% over term
Payment allocation Any payments the customer makes are allocated as follows first pay off any arrears then pay off any costs, expenses & charges due finally amount owed on loan acc.

Goodwill offer comprises:
Total refund ppi prem & assoc int paid to date £122.28
Stat & Stay int values £63.37 (Gross int etc as before *)
less Tax (20%) £12.67
Net int £50.70
Total offer £172.98

PPI paid October to June is 9 months, you have not put the monthly PPI amount, looks like the PPI monthly amount was £13.55, if this is correct then the redress is right.

amersall

myfriendmartin67 wrote: »

Loan taken June 2006
(A) Amt & purpose of loan £15000.00
comprising loans (a+b) (a) upto £9165.72 for refin acc no ****
(b) cash loan of £5834.28 (plus any balance of loan (a) not used for refin) for REFINANCE DEBT THIS BANK
(B) term 84 mths
(C) Total amt payable £21351.96
(D) Instalment repayments £254.19
(E) APR 11.2%
OTHER FINANCIAL INFO
(A) Total charge £6351.96
(B) Annual rate interest. The amount of int payable at beginning of agreement and is equiv to fixed ann rate of int of 10.66% over the term.

Goodwill offer comprises:
Total refund ppi prem & assoc int paid to date £9.94
Stat & Stay int values (Gross int etc as before *) £4.79
Less tax (20%) £0.96
Net Int £3.83
Total offer £13.77

Is this the loan that is still running? if it is then you have paid more PPI than they are giving you here, you need to ask them where the PPI after settlement of each loan is that you paid back in settlement for all loans bar the first one.

amersall

myfriendmartin67 wrote: »

Loan taken June 2006
(A) Amt & purpose of loan £15000.00
comprising loans (a+b) (a) upto £9165.72 for refin acc no ****
(b) cash loan of £5834.28 (plus any balance of loan (a) not used for refin) for REFINANCE DEBT THIS BANK
(B) term 84 mths
(C) Total amt payable £21351.96
(D) Instalment repayments £254.19
(E) APR 11.2%
OTHER FINANCIAL INFO
(A) Total charge £6351.96
(B) Annual rate interest. The amount of int payable at beginning of agreement and is equiv to fixed ann rate of int of 10.66% over the term.

Goodwill offer comprises:
Total refund ppi prem & assoc int paid to date £9.94
Stat & Stay int values (Gross int etc as before *) £4.79
Less tax (20%) £0.96
Net Int £3.83
Total offer £13.77

You only paid 2 months of this PPI so the redress looks right.

Annie021063

amersall wrote: »

I assume this a credit card? if not it is a long repayment for a loan
If you have proof of PPI paid previous to the 6 years that they give, then they will pay you all that PPI, if you have no proof then you only get 6 years back, they may need proof of this also, unless they can see that you paid it.

no, it's on an overdraft! the lady at the bank knew it had been running since 1998 because she told me she could see it on the pc in front of her, it was her idea to claim,and told me they would fast track and I would hear in 5 days (up today and heard nothing)
Thanks amersall for responding

amersall

myfriendmartin67 wrote: »

Loan taken Aug 2006 (due to cold call from bank to reduce int rate if taken)
(A) Amt & purpose of loan £16000.00
comprising loans (a+b) (a) upto £15171.67 for refin acc no *****
(b) cash loan of £828.33 (plus any balance of loan (a) not used for refinancing) for REFINANCE DEBT THIS BANK
(B) Term 84 mths
(C) total amt payable £20311.20
(D) repayments £241.80 for loans described 1(a) in proportion amts drawn down.
APR 7.3%
OTHER FINANCIAL INFO
(A) total charge £4311.20
(B) Ann rate interest. Int of 7.04% over the term.

Goodwill offer comprises:
Total refund ppi prem & assoc int paid to date £616.01
Stat & Stay int values £147.75
Less Tax (20%) £29.55
Net int £118.20
Total offer £734.21
This is the most confusing one as I have been paying for 72 months with 12 to go so if this is correct I have only paid roughly £10 per month for ppi + int. I still have £3350 to pay on this and waiting for restructure from bank.
So are they all correct if so great news money back into my acc if not is it FOS route. Again thanks for any advice in advance.:beer:

With this one, they will take the whole PPI off the loan balance and your monthly payment will go down by the PPI monthly amount.
I think that "B the cash loan" was the PPI on this loan, this means that you paid in the around £10 per month PPI.

You need to ask them what interest was put on the "cash loan " to see if they owe you any more with the interest, this interest on the loan PPI should be shown in the figures and it is not, you also need to ask them where are the early settlement amounts of the PPI that you paid back in settlement of the previous loans, if there was any.

amersall

c100dave wrote: »

Hello,I have made a claim with MBNA using your template's,thank you for making thing so easy,I have recieved a letter saying that my complaint has been up held.I have had the card for about 10 year's and fortunately I was able to pay the balance in full nearly every month.They have come back to me with a amount of £636.10.I have read on this site that you will gat back approx £0.80 for every £100.Is it worth me taking it further with the Ombudsam or shall I just take the money.

Do you have proof of PPI paid that is more than what they have offered you? if you do then send it in and ask them to look at this again, they only repay 6 years with a CC without proof.

amersall

rocketman99 wrote: »

hi just had to chase up lloyds on my ppi on a loan i had they say they have sent out a letter stating that the ppi was was upheld but was cancelled within the 30day cooling off period i didnt even know i had the ppi in the first place untill the local branch told me so if i didnt know i had it how could i cancel it ???? is their a way of double checking the information they are telling me because so far i dont trust what they say one bit . any advice please thanks in advance

Ask them to show you the proof of this.

amersall

slow_loris wrote: »

I have never used a forum before so I'm not sure if I'm doing this right! Apologies if this has already been asked. I have checked all the FAQs but can't find the answer to my problem - I don't have any account numbers for my loans, and as they are over 6 years old an Experian report won't list them. I can't start the ball rolling with reclaiming my PPI as I need the account numbers for the first template letter. What should I do? Any advice much appreciated.

If you know the banks that you had the loans with, give them a call and ask if they can find you, better still if you have a local branch then pop in with ID and ask if they can find you.

amersall

roger0889 wrote: »

:jHi. My daughter was told she had to take out a ppi plan when she got a business loan from Natwest. She has since gone bust and I presume the bank have claimed their loan back from the ppi. The thing is she was definitely led to believe that without the ppi in place she could not have the loan. Has she any redress in respect of claiming mis-selling even though the ppi has probably paid out????

If the loan was not repaid, the bank will want the money back, they cannot claim on the PPI as your Daughter has to do this, when she does, they will take any money she owes off the redress and if there is any left it will go to her.

amersall

norope wrote: »

New to this site but after some advice really. I have recently made three successful claims for PPI myself and quitely pleased with the amount I have got back. Just an afternoon of form filling and a trip to the post office for recorded delivery and bobs your dads brother.

Anyway the advice Im after is regarding a company called Welcome finance. Back in May 2005 I took out a secured loan with them ( so wish I hadnt now). Everything was going fine apart from the extortionate interest rate. In Sept 2010 I moved (still trying to sell my original property but proving difficult due to negative equity mainly down to Welcome). I had paid every month up until this point and then missed a few months wilst looking for work. I spoke to Welcome and sorted out my account. Anyway I then become unemployed again in late 2011 and spoke to them again as I knew I had taken out PPI.(have all the original documents). They told me that my account was showing that I had no PPI cover.(absolute crap). Anyway I then received a letter from the FSCS saying I could claim against Welcome for mis sold PPI as they were unable to honor the insurance and were in deep financial poop. I filled in all forms and waited, and waited. Now today I have received a letter saying that they cannot uphold my claim as I cancelled my PPI in 2011. I have never spoken to anyone about cancelling my PPI and am totally confused. I have seen various threads regarding Welcome and some people are saying that they are cancelling PPI without customer knowledge. Can they do this??? I thought this would have to be given in writting. Have also read about obtaining a SAR (subject access request) from Welcome, is this worth doing. There is no way I will be leaving this as I know I took the PPI cover out and was mis-sold it (told i had to have it otherwise no loan) and I have not cancelled it.

Ask Welcome for proof of the cancellation and the correspondence between you and them regarding this.