PPI Reclaiming discussion

daynurse

m.colak wrote: »

First of all don't believe what they dictate what your intitled too. Look at your loan work out percentage which relates to PPI and how extra you've paid so far in interest and how much you would have lost in interest. Then send them that figure and tell them they must revise you're payment plan immediately and interest that you have paid to date has to be taken into account. DON'T let them say you need to arrange a new loan because it isn't true or let them say they need to run a credit check cause this isn't true either.

how do i work that out?????????? the ppi was for 7983.00 its been running for exactly 2 years dont know how to work out interest paid and what i would have lost if they revise the payment plan they are sure to say they need to rearrange the loan what will i say to that!!!!

m.colak

daynurse wrote: »

how do i work that out?????????? the ppi was for 7983.00 its been running for exactly 2 years dont know how to work out interest paid and what i would have lost if they revise the payment plan they are sure to say they need to rearrange the loan what will i say to that!!!!

Ok
1. Cancel the PPI
2. What was the loan Interest rate (usual 7.9%)
3. £7983 is that including the PPI charge (Interest on a single premium)
4. How many repayments were there (ie how long was the loan for?)
5. If you can prove that you were missold you can make them recalculate all the payments you made so far and work out the additional interest which needs to come off.
6. They won't say they need to re arrange the loan they will say that you need to take another one out at which point you say no. You say work out the payments.

Pinzy

m.colak wrote: »

Hmmm not so sure of that. All debts do not get wrote off if you die unless you have no relatives (else they are burdened with the bill). Example is death duty, tax etc. In the end they're get there pound of flesh. It comes out of your estate first (what you have left in monetary value) followed by your family.

Thanks for that, looks as though my Auntie was right, as it says in that link you posted

"It's true that no-one has to pay off your debts for you unless it's in joint names or they have acted as your guarantor."

daynurse

m.colak wrote: »

Ok
1. Cancel the PPI
2. What was the loan Interest rate (usual 7.9%)
3. £7983 is that including the PPI charge (Interest on a single premium)
4. How many repayments were there (ie how long was the loan for?)
5. If you can prove that you were missold you can make them recalculate all the payments you made so far and work out the additional interest which needs to come off.
6. They won't say they need to re arrange the loan they will say that you need to take another one out at which point you say no. You say work out the payments.

had a look on fsa web site it does say when consumers cancel ppi without repaying the loan some firms will need to re issue the loan without the ppi firms should ensure they treat their customers fairly in relation to the terms on which they reissue the loan!!!!!!!!!
1. trying to cancel have to accept what the rebate is first
2. loan interest 8.4% variable has gone up loads of times
3.ppi amount 7983.74 loan 32.600 total 40,683.74
4 number of repayments 300 total paid so far 24 months
5 may not be able to proove that depends on tapes but the rebate offerred for cancelling is less than 20%
6.deffinatley will not take another loan when they tell me i have to ill ask them to work out the payments printed the stuff off the FSA website may send it later with my fax
what i dont think is right is they said the refund would come off my account
why the hell should it

what would we all do without you giving out valiable info thank you:T

YEOSAL

Hi

5th Jan - 1st letter to DFS
6th Jan - rude phone call from them
18th Jan - Final response letter received
20th Jan - 2nd letter sent to them
23rd Jan - 2nd Final response - sent from head office. They state its too late to claim as policy was 2001 over 3 years.

Sending forms to FOS, they have asked for final response letters so I will enclose both.

Q1 Should I send in copies of the letters I sent to them?
Q2 Should I quote misrep act 1967 on FOS forms?

Lloyds TSB now reviewing 2nd letter - they have ignored my 14 days demand and said they will reply by 4th March. That date is exactly 8 weeks since I sent the 1st letter.

Q1 Should I give them til 4th March to respond?

Thanks

tiggrae

YEOSAL wrote: »

Hi

5th Jan - 1st letter to DFS
6th Jan - rude phone call from them
18th Jan - Final response letter received
20th Jan - 2nd letter sent to them
23rd Jan - 2nd Final response - sent from head office. They state its too late to claim as policy was 2001 over 3 years.

Sending forms to FOS, they have asked for final response letters so I will enclose both.

Q1 Should I send in copies of the letters I sent to them?
Q2 Should I quote misrep act 1967 on FOS forms?

Lloyds TSB now reviewing 2nd letter - they have ignored my 14 days demand and said they will reply by 4th March. That date is exactly 8 weeks since I sent the 1st letter.

Q1 Should I give them til 4th March to respond?

Thanks

Hi on your DFS, I doubt the FOS will be able to take on your case as DFS will not have come under their jurisdiction in 2001 so your only recourse would be the County Court.

Lloyds they are allowed 8 weeks in which to respond

m.colak

daynurse wrote: »

had a look on fsa web site it does say when consumers cancel ppi without repaying the loan some firms will need to re issue the loan without the ppi firms should ensure they treat their customers fairly in relation to the terms on which they reissue the loan!!!!!!!!!
1. trying to cancel have to accept what the rebate is first
2. loan interest 8.4% variable has gone up loads of times
3.ppi amount 7983.74 loan 32.600 total 40,683.74
4 number of repayments 300 total paid so far 24 months
5 may not be able to proove that depends on tapes but the rebate offerred for cancelling is less than 20%
6.deffinatley will not take another loan when they tell me i have to ill ask them to work out the payments printed the stuff off the FSA website may send it later with my fax
what i dont think is right is they said the refund would come off my account
why the hell should it

what would we all do without you giving out valiable info thank you:T

sorry was busy with baby can you tell me your rough monthly payments and i can work out how much of a refund you should get. Thank you for posting you're details.

ok have done some rough calculations and the refund on your policy should be approx £723.58 (might be wrong don't quote me) and your loan figure should be at £30346.58 with monthly payments of £111.25.
If they took the refund off your policy that would make the loan figure £29623 effectively knocking two and a half years off the loan (i think). This is me guessing your monthly payments were abot £141.25. Obviously if they are offering you 20% of the policy then that £8136.78 but then that with no alterations to the policy so although you would be £8146.78 better off paid into another account you would still have to repay £40426.41 or if it was removed from the policy then it would be £32289.63. So as you can see claiming the 20% would be worse than reclaiming the PPI, cancelling it and then asking them to recalculate the policy.

daynurse

m.colak wrote: »

sorry was busy with baby can you tell me your rough monthly payments and i can work out how much of a refund you should get. Thank you for posting you're details.

ok have done some rough calculations and the refund on your policy should be approx £723.58 (might be wrong don't quote me) and your loan figure should be at £30346.58 with monthly payments of £111.25.
If they took the refund off your policy that would make the loan figure £29623 effectively knocking two and a half years off the loan (i think).

many thanks i know you are very busy
the total ppi was 77983,74 on the agreement it states loan payment 254,56p ppi 62,34 monthly payment 316.00 however monthly payment now gone up to 367.00!!! they offerred a rebate of 1,133.15 in " respect of premium paid this would be credited to your account" !!!!! if i remember right the last figure i had for settling was 39.000 i really really think i am being ripped off i wish my loan payment was 111.25 it would be wonderful!!!!!
:mad: :mad: :mad:

daynurse

m.colak wrote: »

sorry was busy with baby can you tell me your rough monthly payments and i can work out how much of a refund you should get. Thank you for posting you're details.

ok have done some rough calculations and the refund on your policy should be approx £723.58 (might be wrong don't quote me) and your loan figure should be at £30346.58 with monthly payments of £111.25.
If they took the refund off your policy that would make the loan figure £29623 effectively knocking two and a half years off the loan (i think).

many thanks i know you are very busy
the total ppi was 77983,74 on the agreement it states loan payment 254,56p ppi 62,34 monthly payment 316.00 however monthly payment now gone up to 367.00!!! they offerred a rebate of 1,133.15 in " respect of premium paid this would be credited to your account" !!!!! if i remember right the last figure i had for settling was 39.000 i really really think i am being ripped off i wish my loan payment was 111.25 it would be wonderful!!!!!I WISH MARTIN COULD TAKE FIRSTPLUS ON !!!!!
:mad: :mad: :mad: SORRY DOUBLED UP SOMEHOW

daynurse

just realised that we have hardly paid anything off the balance even though we have been paying for 2 years i presume that is interest thats bad and extortionate what idiots we have been they will be laughing all the way to the bank!!!!!!!!