PPI Reclaiming discussion

Alice123

Hi

Can any one help me???? we took a loan out in Dec 2004 for £10300 and also had the PPI (which we thought was a good idear at the time) and that has added £3190.97 to the loan plus £1702.22 in interest (for the pleasure of having protection, plus £5496.18 interest on the loan amount so in total the loan has cost us £20689.37!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

So my question being should I try to claim the PPI back?? as it is only covering my husband not both of us?? so in effect of no use as both made redundant friom the same comp back in 2005 and could not claim as we got redundacy pay. This is a very tricky issue as it has cost us a lot of money for nothing!!

Please can some one help??

asmaarfan

hi...me again!
Thanks for the link while adapting the letter i have come a little bit stuck AGAIN!
I hope u can help...

My loan with natwest taken out on 1 april 2003 and closed on September 2005 ( I repayed early ...it was a 6o month loan originally)

I have the loan agreement details as follows
Original sum borrowed: £10,000,00
PPI Premium: £2,458.000
Charge for credit: £3,238.00
Monthly Repayment: £261.61
Term : 60 MTHS
Total amount Payable £15,696.00
Interest Rate: 9.49%

Now my question is what figures do i put in this section of the template provided , i have filled in as much as i can but am not sure how i calculate the red totals... I am TOTALLY CONFUSED.. CAN YOU PLEASE HELP ME FIGURE THESE OUT AS I DO NOT WANT TO GET THESE WRONG.
"
The original premium was £2,458.00 added to the loan amount on the 1st April 2003. I am aware according to the loan details you have sent me that interest at 9.49% was added to this amount . Interest £xxxxx Total amount £xxxxxx. The Statutory 8% interest (S69 of the County Court Act) allowed by the Courts will amount to £xxxxxx. Making the total amount payable at the Court Stage £xxxxxx.

I appreciate any help you can give! THanks in advance

ASMA

angelwillow

Got letter from Lloyds today saying pretty much that although yes we were sold a single premium policy, so what as the figures were laid out on the paper work so we knew what we were letting ourselves in for.
Is this right and am I just stupid for not realising I was paying up front the full interest on the insurance etc and beause of this I can't get an early settlement figure and still must pay the full amount including interest?

angelwillow

Having a bad day - also got letter from G.E saying it didn't matter that I just signed where the girl in the shop told me to sign,it's my own fault for not reading it all.
Am I snookered on this one aswell?

ElMoo_2

m.colak wrote: »

Have you got dates and times in which case pull out your phone bill and find the number as what other reason would you have for phoning them. Its a bit tenous i know but its the old adage the horse has bolted why shut the gate. Thats why always send letters to back up phonecalls so they can't ignore them. If you could get copies of these phone calls it may assist your case.

Thanks for the advice, unfortunately I have no bills for that time as I changed phone contract a while ago and threw a lot of old bills out, I will never throw out anything again!:mad:

I think i will have to put my case to the FOS and see what happens, I have nothing to lose.

Stillsmiling

m.colak wrote: »

Sorry for the misunderstanding. Thought you were asking for advice:D Sounds like you have everything under wraps. Good luck and hopefully you'll get a result soon.

Nah, just sharing their incompetence!!! You were a great help with my FOS form and I appreciate that. :T

Stillsmiling

juliedawn wrote: »

They are going down (first plus ) ...My reduction is from 9.7 % to 8.7 %........saving £50 a month!!!
OMG i need a drink!!!!!!!!!!!!!!!!!

Told you so! Here you go: :beer:

baz65

Hi
I've just finished drafting my letter to Egg Credit card does anyone have the correct address to send it to as the only one I have is

EGG CARD
New Application
Basildon
SS14 9AA

Regards Baz :money:

LISAW_2

sorry baz cant help but, prob easier to search the thread for egg address......

nova

baz65 wrote: »

Hi
I've just finished drafting my letter to Egg Credit card does anyone have the correct address to send it to as the only one I have is

EGG CARD
New Application
Basildon
SS14 9AA

Regards Baz :money:

Here Goes: Customer Relations Office
Egg
Riverside Road
Pride Park
Derby
DE99 3GG
Good Luck.