PPI Reclaiming discussion

Triggles

m colak - here's the details - thank you for the assistance!

Ok work it out as two loans then

loan 1

loan start date = July 2004 (sorry don't have actual day, but I believe payments started 3 mos later in October 2004?)
loan amount = 7000
repayments = 165.44
settled first loan date = Feb 2007 (again, don't have date but it was paid up by dropping balance into new loan)
loan length = 60 monthly payments
settlement figure = 4475.83
loan charge = 1664.40

loan 2

loan start date = Feb 2007 (again, sorry, no day on paperwork)
loan amount = 7166.17
repayments = 279.55
number of payments made = monthly, from May 2007 until present (11?)
loan length = 60 monthly payments
loan charge = 2655

if you fill out the details i can work out a rough figure for you based on the mis sold PPI.

Sorry so sketchy. Honestly I've scoured the paperwork and find no dates, just month and year, and even that was hard to pinpoint. Good grief! Thanks again!

tufty1964

just one more question please, my payments for my last loan were on 14th of the month, because I settled and refinanced today 11th will they still want £156 this friday or will my next payment be on the 14th of april for the new amount of £82.50? I should get the forms to sign tomorow in post

Stillsmiling

Maggie_Holmes wrote: »

I must be slow I think when I started this in November all the First Plus reclaimers have got their PPI's back thats Vodkafreak, m.colak, cocker100, daynurse and even a couple more since Laini Ithink Nova is a First Plus reclaimer I Hope there is still some money in the pot for me.

I think when I get my next letter I will go straight to the MD no messing hey.

Probably end up going through the FOS knowing me.

Maggie

I'm still going too. Got an offer from First Plus which I refused and I've now taken it to the FOS. In the meantime First Plus decided that I wanted to accept their offer and paid it off my loan, reduced my payments and cancelled my PPI. I played Hell with them and demanded they put it all back how it was as I had NOT accepted their offer. 2 weeks on and they've taken the first reduced payment and are still trying to sort out their own mess! :rolleyes:

HappyMummy_4

[quote

any help would be great..and happymummy i will let you know how i get on.....doesnt help that Picture seem to be going under...]

How do you mean 'going under'? :eek: How do think this will affect our loans? Will they be written off? :rotfl:

m.colak

nova wrote: »

Hi Everyone, Well l've done it, sent the letter off to nw giving them 7 days to get back to me or court, really nervous now!! m.colak l cant remember did you actually have to go to court or did they back down before hand? l know you were going to send the bailiffs in, my husband would love to do that!! and he says we should start charging admin fees of £25.00 a time like they do!!

Hi just a quick update the bailiff's attempted to serve the warrant against Halifax however they were unable to as the Halifax has appealled the judgement and therefore i will have to take them to court after all:rotfl: . I might claim punative damages due to the fact of the loss of earnings and the fact that i have to take time off work now.

m.colak

loan 1
28 payments made 165.44 x 28 = 4632.32
Loan Charge Proportion 1664.40 / 60 = 776.72
Interest on loan (Baised on 7.9%) = 1364.30
Total Cost of Loan Upto Feb 07 = 9141.02
Total Repayments = Settlement Figure + Payments Made
= 4475.83 + 4632.32
= 9108.15
Therefore it looks like you've had a full rebate of the PPI In this case (I Believe I could be wrong)

Loan 2
In this case if the loan was a single premium then there is a good chance that the PPI element would have been paid first in which case you could ask for the full amount back if you wish to plus the statutory 8% interest. But its a matter now of cancelling the PPI and asking to reclaim the payments and the loan to be restructured.

Doogle_2

HappyMummy wrote: »

[quote

any help would be great..and happymummy i will let you know how i get on.....doesnt help that Picture seem to be going under...]

How do you mean 'going under'? :eek: How do think this will affect our loans? Will they be written off? :rotfl:

I doubt they will be written off!!! i did some research on Picture last night and it seems they are looking to be bought out and ctibank was mentioned...however i wonder if due to the credit crunch no one wants to touch them....theres a great thread on the consumer action site re Picture putting up interest rates last years not in line with the Bof E. . read it...its a great thread and im gonna chuck that in with my complaint too...

nova

m.colak wrote: »

Hi just a quick update the bailiff's attempted to serve the warrant against Halifax however they were unable to as the Halifax has appealled the judgement and therefore i will have to take them to court after all . I might claim punative damages due to the fact of the loss of earnings and the fact that i have to take time off work now.

Loads of luck with that, it dawned on me last night that our battle with nw is in OH name lm just diong the paper work coz he's always working, so he'll have to go to court not me,but he's fine with that, he's fed up like the rest of us with being ripped off. l have no dealings with picture but if they're going under does that mean we wont have to suffer those bloody awful adverts anymore!!! that can only be a good thing!!!:rotfl:

daynurse

Maggie_Holmes wrote: »

I must be slow I think when I started this in November all the First Plus reclaimers have got their PPI's back thats Vodkafreak, m.colak, cocker100, daynurse and even a couple more since Laini Ithink Nova is a First Plus reclaimer I Hope there is still some money in the pot for me.

I think when I get my next letter I will go straight to the MD no messing hey.

Probably end up going through the FOS knowing me.

Maggie

email him telling how unhappy you are being going on since november etc ask for his help
worth a shot

katiekittykat

m.colak wrote: »

Try this line

reference your previous letter dated ******* i refer once again to my initial complaint sent ***** to which issue's you have not addressed. You have stated that i had a 30 days "cooling off" period however in my letter of complaint i stated:

"The policy was sold to me with the emphasis that the PPI element was mandatory and not option"

"The policy was sold to me with no indication or mention of a PPI element"

(Try and use the exact wording you used in your inital letter).

To which end i request you re investigate this complaint in view to the fact this is in breach of the Mis Representation ACt 1967 where this product has been negligently sold to myself/partner/both me and my partner. I look forward to your response within 14 days.

Yours sincerely,

Katiekittykat (I would use your real name here):D

Hi thanks again for this, have typed it all out today and am going to post it on my way home from work!

xxx