PPI Reclaiming discussion

The_deacon

The_deacon wrote: »

Sorry about this, i have read all the information on both the reclaim froums and seen the article contents about reclaim amounts. However! call me dim, but i am really struggling to understand what would be a fair figure to be accepted in the event of any offer or, which i will do, filling in my court form. . I will post the figures below and hopefully someone will be able to point me in the right direction.
I have seen some of the formulas posted but they mean nothing to me, sorry!
I have already sent off the first letter but am still awaiting a reply.

Loan taken out in June 2002 for the sum of £47,343

Secured loan and so was charged £2116.80 (added to loan)Mortgage Guarantee Insurance, (don't know whether this was a legal requirement or was conned in to this as well?)

PPI £5112.42 (single premium added to loan, was told could not have loan without this)

Total amount of credit £54,972,22 (I know this figure is more than the others added together but honestly don't know why it is £400 more?)

The original interest rate charged was 14% however it does seem to have changed a couple of times to 13.8 and 13.17?

I paid the loan off in August 2003, with a settlement figure which was larger than the original loan by some margin. I was allowed a rebate on the PPI of £2765.82. By my understanding this means i paid £2346.60 for the PPI?

I honestly don't have a clue what people mean by 8% etc, or whether this would be just for when the loan was in force or the time since then?

Will be really grateful for any help, and will repay this to somone when a subject which i do understand! crops up on the forums.

Thanks in Advance

Sorry am back again! The eight weeks have passed since my first letter and i have had no communication back what so ever. I intend therefore to send the second letter along with the copy of the MCOL form as i now intend to go directly to court. Problem is and i have tried all the ways of working out that people on here have suggested, maths is not my strong point and i still don't know what figure i should be claiming for on the MCOL form.
My workings out range from just over £3000 to £9000! depending which way i do it.
I would be so grateful if someone could just tell me an approximate figure i should be looking at so that i don't look silly on the form. I noticed that i never gave the final settlement figure on the figures above which was £53,000. Actually paid the loan for 15 months at £650 per month.

If someone could just give me an idea of the amount i should be claiming i will be so grateful, thanks.

ANY_CHANCE

fishy81 wrote: »

I'm back!

Another one:

PPI on a capital one card, but the address given is a PO BOx address to make payments to. Should I send letter here?

Also, anyone know if lenders/card people etc can throw you out as a customer or make life hard for you if they see you have been trying to do a PPI claim? Or demand full repay?

(Ie like the banks that threw people out when the agrued re bank charges?)

I have found another address from the reclaim bank charges help thread
Captital one services inc
Trent House
Station Street
Nottingham
NG2 3HX

Perhaps give them a call and check where the letter should be sent

daynurse

TwinsMum wrote: »

Well I am still here and still waiting for a reply from FirstPlus, Now with FO, been trying to ring FO but can never get through just keep getting a leave a message and we will contact you, I know they must be busy but:mad: . Just looked on FirstPlus website and the loan that I have has a monthly payment of over £100 less than mine for new applicants, how does that work then interest rates are higher, only now they have a arrangment fee of £995, don't they get enough as it is greedy devils. Anyway have requested tapes from them as I don't believe they explained everything to me.

On another note I did claim back PPI from HSBC back in November for loans but they missed one out so going after that also, they say that the reason they paid out the others was because they had no paperwork for my loans, I am claiming on the basis that I only worked 10 hours a week, so I have sent of my contract of employment to prove this, so hopefully they will pay up.

Million thanks to M.Colak who has been most helpful in trying to help me, I have followed his advice so hopefully I will get somewhere with my claims. DayNurse has also given me hope I have not emailed MD yet but may well do when I pluck up the courage.

anything is worth a try tell him how long the whole thing has been going on etc get the tapes as well because my interpretation was certainly different from theres!!!
good luck

juliedawn_2

Daynurse...help!!

We have had a reply from our third letter.How did you get the telephone call?......hes going on about sending details via email of our PGP encryption ,whatever that is.
They won't give us it by cheque either( whats that because they have paid out so much money they want to stop)...only take it off the loan.
And they are avoiding the question of the PPI going altogether.
Also what he said in the last letter was his final offer.:mad: :mad: :mad: :mad: :mad: :mad:

juliedawn_2

Can you send me the email of the MD again.accidently deleted it.

superdupermummy

I have a loan with EGG and it is due to expire in 2011. I have PPI and it is a SINGLE PREMIUM policy.
I called up about 6 months ago to cancel it and they said it wouldn't be worth it as I have nearly paid it all, £6k!!!! They also said I wouldn't get any money back if I did cancel.
When I was sold the policy I was sold it by amount per day of the loan, this is not right if I have paid for all the PPI and the loan is still going till 2011?
I want to claim my money back, even if it is only partial, but need to know.... DO I CANCEL IT FIRST OR JUST SEND THE LETTER?
Any ideas?

Kaia_2

m colak.....nice to see you back:T ....hope baby is doing well......thanks for your past help, any suggestions on what I should do next please.
this is the last letter recieved in response to my asking for documents

---

Dear .....
We note that you have expressed your further dissatisfaction at our final response.
It is your belief that we should keep all written records for 6 years for Corporation , Tax and VAT purposes, we do NOT in fact have to keep actual credit agreements for this purpose.
At the time your loan completed it was our company policy to keep documentation for 3 years.
This is supported by FSA guidelines introduced on 15th January 2005.
The lender is required to keep documentation for 6 years after the agreement with the customer ends.
The points raised in my previous correspondence still stand and Freedom Finance are of the belief that the policy was sold in good faith and therefore reiterate that we are unable to uphold your complaint.....
Yours sincerely
Compliance Officer.

---

I have no documents so I dont know the amount of the single premium, how much I need to reclaim or anything???
When I first started this process I just sent the mis-sold template letter asking for a refund, I didnt request any documents.
Now i have asked for any docments they are saying they dont have them, so what do I do?

Please help.

Bagpuss741

Does anyone think the reclaiming letter could be adapted for this reason?http://forums.moneysavingexpert.com/showthread.html?t=769959
Any help/advice very much appreciated:beer:

Kaia_2

....forgot to say....
All my letters have been addressed to the broker Freedom Finance....but the lender is GE Money so do I request all the documents from them.
Should I be writing to both? Oh dear...confused

rdm2007

rang HSBC today to ask how they were getting along with my claim. reply was that they are awaiting more documents but still have 4 weeks to deal.

I said "no you have 2 weeks to deal" they said that as they did not rec'v the complaint until 31st jan thay have 4 weeks to deal. Advised them that my original complaint was made by emailing a person direct on the 17th jan and as he had not bothered to reply i sent 2nd email on 31st along with a copy of the 1st email. They again say that as they did not have it until 31st jan 4 weeks to deal.

I said oh if thats what you say then and left it at that. I then rang the FOS to complain about this & they are sending them a letter to say must deal in 8 weeks from original complaint 17th Jan. :rotfl:

Also explained what the complaint was etc so at least they have that also