PPI Reclaiming Discussion Part 5

[Deleted User]

dolphingazer wrote: »

Thanks Moneyineptitude for your reply.
I had other valid reasons for mis sell on all the loans, so fingers crossed

Yes, best of luck.

[Deleted User]

kaydeed wrote: »

i have had an alert by my equifax stating " there have been changes to the following credit agreement in your credit file. Deleted credit agreement summary by Lombard bank on one of the loans i enquired about. Do you think they may be trying to alter the policy i took out ?

It's impossible for us to do anything more than speculate here, of course, but it would be a very serious act of professional misconduct if they were actually altering a policy in the way you suspect.
I suggest you contact Lombard and ask why this summary is showing as being deleted on your Equifax alert. I'd be very careful not to make any unsubstantiated accusations, though.

toni66

icmelerlovers wrote: »

it was same as me toni ,, it was implied to me when having my loans and cc , i would stand better chance of having credit from them , even though i had cover from work , ie sick pay, lif cover .
i have claim in at present for loans and cc, they have to the 1st of april to get back to me.

Thankyou for your reply, mine to is set for the 1st april, good luck to you, im not building my hopes up tho xx

toni66

Sorry another question, ive got a claim going with nationwide for loans, but ive noticed they have been putting ppi on my credit card, should i wait for the loan claim which is up on the 1st april, or submitt a form now, I just dont want them to make the current claim go on longer
Thanks




Toni
Toni

bracken68

Hi - I was contacted at the beginning of this year by Ocean Finance re my secured load I took out in 2006, for which I had also taken PPI. (After just over two years I cancelled the PPI). They have now come back to me with an offer and I'm not sure if it's one I should accept or not.
The total offer of redress they have made is £2,051.79 which they have calculated as follows - total amount of payments received £4,460.80, from which a rebate of £1,188.07 was deducted as this was paid to the lender when I cancelled the policy. They've then deducted the cost of an equivalent monthly paid policy calculated using the FSA suggested rate of £9.00 per £100.00. They calculate the total cost of this policy (for period 28th July 2006 to 26th August 2008) would have been £1,188.11, giving a subtotal of £1,400.62. They have then added 8% simple interest of £813.96 giving a subtotal of £2,214.58. Then tax deducted giving the total £2.051.79.
They also say that they will 'provide an amount to First Plus to enable them to restructure my loan and remove the payment protection element'
They have me bamboozled .... is this a good and fair offer, or should I decline and take it to the FSO? Any advice anyone can offer would be gratefully received!

di3004

toni66 wrote: »

Sorry another question, ive got a claim going with nationwide for loans, but ive noticed they have been putting ppi on my credit card, should i wait for the loan claim which is up on the 1st april, or submitt a form now, I just dont want them to make the current claim go on longer
Thanks



Toni

Hi

You can do so at anytime.

I had so many going at the same time, even though they are expected to look through other accounts once complained on one, but it may take a while, so for a quicker way, get the ball rolling yourself.

Good luck.

di3004

bracken68 wrote: »

Hi - I was contacted at the beginning of this year by Ocean Finance re my secured load I took out in 2006, for which I had also taken PPI. (After just over two years I cancelled the PPI). They have now come back to me with an offer and I'm not sure if it's one I should accept or not.
The total offer of redress they have made is £2,051.79 which they have calculated as follows - total amount of payments received £4,460.80, from which a rebate of £1,188.07 was deducted as this was paid to the lender when I cancelled the policy. They've then deducted the cost of an equivalent monthly paid policy calculated using the FSA suggested rate of £9.00 per £100.00. They calculate the total cost of this policy (for period 28th July 2006 to 26th August 2008) would have been £1,188.11, giving a subtotal of £1,400.62. They have then added 8% simple interest of £813.96 giving a subtotal of £2,214.58. Then tax deducted giving the total £2.051.79.
They also say that they will 'provide an amount to First Plus to enable them to restructure my loan and remove the payment protection element'
They have me bamboozled .... is this a good and fair offer, or should I decline and take it to the FSO? Any advice anyone can offer would be gratefully received!

Hi and welcome

I am not good when it comes to calculations, but if they are working within the FOS guidelines they should follow that rule, more details on a link below, to give you an idea.

But if they agreed to uphold your complaint, they should follow those FOS guidelines (I understand it may differ slightly from a loan to credit card when it comes to the interest side of it), but they should pay you all premiums you have paid to date of cancellation, minus any rebate on settlement, plus the relevant interest.

Hope this helps, but meanwhile I expect someone will be along soon to explain how yours have worked out, good luck.

https://forums.moneysavingexpert.com/discussion/1596473

toni66

di3004 wrote: »

Hi

You can do so at anytime.

I had so many going at the same time, even though they are expected to look through other accounts once complained on one, but it may take a while, so for a quicker way, get the ball rolling yourself.

Good luck.

Thanks again di3004, you get back so quick i think i will send the form off tomorrow, wish me luck:o

di3004

toni66 wrote: »

Thanks again di3004, you get back so quick i think i will send the form off tomorrow, wish me luck:o

lol your very welcome hon, and the best of luck.:D;) X

[Deleted User]

toni66 wrote: »

Thanks again di3004, you get back so quick i think i will send the form off tomorrow, wish me luck:o

Absolutely don't wait. If you do wait, it will just mean yet another eight week period before you know the next outcome.