PPI Reclaiming discussion

daynurse

RichP wrote: »

Firstplus

Hi all, I want to get copies of the telephone conversations between myself and Firstplus, I can not find a template for the letter needed to request these, does anyone have one they can send me or can anyone give me a link to this if it does exist, thanks :beer:

just ring them or write asking them for a copy of the recording it took 7 days to get mine at no extra cost

daynurse

Laini wrote: »

I have been trying to look for any posts regarding phone calls on disc from FP can anyone help?
what did you do next or what happened next?
WE HAVE NOT BEEN OFFERED 78% rebate just got 22%

Laini xxx

the 78% usually comes if you have cancelled your policy and have stated that it is unfair under the unfair rebate terms my recording was very much the same push push push the cash back incentive ppi was added to loan but no comment on amount payable over the life of the loan etc sorry to hear no luck with MD hes probably fed up of all the emails!!! you can go back to them and say how unfair the 22 % is the FSA state they are no harm in trying!!

Laini

daynurse wrote: »

the 78% usually comes if you have cancelled your policy and have stated that it is unfair under the unfair rebate terms my recording was very much the same push push push the cash back incentive ppi was added to loan but no comment on amount payable over the life of the loan etc sorry to hear no luck with MD hes probably fed up of all the emails!!! you can go back to them and say how unfair the 22 % is the FSA state they are no harm in trying!!

Hi daynurse

thanks for the support
I have emailed the FOS with the details of the one conversation and copied in head of complaints at FP
I think they have washed their hands of us and are trying to ignore us but I wont go away
I do keep banging on about the rebate to them as well but they do not mention it in any reply only saying we were not mis sold
I think they are digging their heels in.

will keep you updated on any news

TTFN

Laini xx:p

ANY_CHANCE

Hi everyone, Hi Laini and Daynurse

I just thought i would post as im just catching up on my paper work

I sent a letter to first plus 20/2 complaining of mis-selling and unfair rebate they replied within a week saying that Norton finance sold us the loan and have passed the complaint over to them. First plus also sent a letter explaining how they calculated the rebate when we repaid the loan last year.

Loan was for 50,000 PPP 12245 total 62,245. we started the loan in july 2005 paid the loan off by selling the house in may 2007 we paid 60874.54 settlement figure

Our monthly payments were 466.81 over approx 20 months (93362)
374.98 - cash loan (x 20 = 7499.60
91.83 - ppp loan (x 20 =1,836.60)

They said that they have already given a rebate of 1933.71

actually i still cannot understand the calculations and wether or not they have given a fair rebate and if not how much do they owe??

oh poo my brain is scrabbled


Just found replies to questions ive asked b4!!! FSA state that the partial refund terms are unfair under the unfair consumer contract term regs 1999 refunds should be calculated fairly after taking into account justifiable costs

However First Plus state in their letter to me that their settlement figure is calculated in accordance with the consumer credit (early settlement) regulations 2004

kellyb78

Hi this is my first time on here so still getting to grips with all the jargon and understanding financial matters!!

I have an abbey credit card which has ppi on it which i paid for as i was employed at the time. The policy is renewed every year and i get a letter through when date nearly up. I phoned them to say i wanted to cancel the policy and not renew it in sept 2007, as i was made redundant in july 2007 and they advised me to write a letter quoting policy, wanting to cancel etc which i did.
However no action was taken and i am still paying ppi! i didn't however keep a copy of the letter requesting cancellation nor did i send it recorded delivery(which wasn't specified in the phone call anyway!) Have i a case for trying to claim back the ppi since sept 2007?

Many thanks for any advice

Laini

ANY_CHANCE wrote: »

Hi everyone, Hi Laini and Daynurse

I just thought i would post as im just catching up on my paper work

I sent a letter to first plus 20/2 complaining of mis-selling and unfair rebate they replied within a week saying that Norton finance sold us the loan and have passed the complaint over to them. First plus also sent a letter explaining how they calculated the rebate when we repaid the loan last year.

Loan was for 50,000 PPP 12245 total 62,245. we started the loan in july 2005 paid the loan off by selling the house in may 2007 we paid 60874.54 settlement figure

Our monthly payments were 466.81 over approx 20 months (93362)
374.98 - cash loan (x 20 = 7499.60
91.83 - ppp loan (x 20 =1,836.60)

They said that they have already given a rebate of 1933.71

actually i still cannot understand the calculations and wether or not they have given a fair rebate and if not how much do they owe??

oh poo my brain is scrabbled

Hi anychance

This may be a Laini calculation but here goes

you only wanted to borrow 50,000
so the PPI is not in your pocket of 12,245 and you wont see untill 5 yrs if you are lucky !
so that makes 62,245

you have already paid them instalments back of 9336.20 of the loan

but the amount they want back is 60,874.54
so really you got 50,000 in your hand but have put back 69,336.20 into theirs in total
thats really fair !!!!!!(not)I know they have to make a profit -10 grand a year

we have done the same only we borrowed 70,000 + 17,000 PPI
So our figures are the same % wise on settlement and PPI thats why I cant let it go!!

anyway is the small rebate you have been given is about 16% isnt it?
so 78% of 12245 is 9,551.10 isnt?

---

if you want all your money back for PPI this is how I have worked it out without 8% interest

12,245=single premium
1836.6=payments made
total=14080.40
take away rebate sum given already of 1933.71

owed to you 12,148 approx

I might have lost the plot so hopefully someone will confirm it or say if I am wrong

Laini xx:rolleyes:

ANY_CHANCE

Thanks Laini your brilliant,
:A

It sounds good to me :rotfl:

Do you think i should write a letter about the unfair rebate to first plus? even though Norton finance is dealing with my complaint of mis-selling the first plus loan ( if you see what i mean:rolleyes: )

What should i put in the letter?

It is definately not an easy process to try to reclaim

Laini

ANY_CHANCE wrote: »

Thanks Laini your brilliant,
:A

It sounds good to me :rotfl:

Do you think i should write a letter about the unfair rebate to first plus? even though Norton finance is dealing with my complaint of mis-selling the first plus loan ( if you see what i mean:rolleyes: )

What should i put in the letter?

It is definately not an easy process to try to reclaim

I would rather go through labour again rather than this !!!

I would say write to FP cos they are holding the purse strings!!
plus they are the ones who you settled the loan with and they decided on the rebate they have given you not Norton.
I will send you a PM with the head of complaints email if you dont have it already then you will not have to post anything
- emails have a quicker response.

Good Luck

Laini xx:rotfl:

ANY_CHANCE

OK thats what i will do lucky them another letter for First Plus

Do you know if there is a template for 2 nd letter on unfair rebate?

I should be studying now but have managed to spend all day sorting out my claims!!!

FIRST PLUS PPI - 12245
Halifax CC - PPI - 2,651
HALIFAX LOAN PPI - 2,479
BENEFICIAL FINANCE - ? AWAITING CHARGES INFO
Halifax CC charges - 472.00
Barclay card charges ? awaiting info
Halifax bank account - awaiting charges info

:beer:

Laini

ANY_CHANCE wrote: »

OK thats what i will do lucky them another letter for First Plus

Do you know if there is a template for 2 nd letter on unfair rebate?

I should be studying now but have managed to spend all day sorting out my claims!!!

FIRST PLUS PPI - 12245
Halifax CC - PPI - 2,651
HALIFAX LOAN PPI - 2,479
BENEFICIAL FINANCE - ? AWAITING CHARGES INFO
Halifax CC charges - 472.00
Barclay card charges ? awaiting info
Halifax bank account - awaiting charges info

:beer:

if you go on the success thread you will see someone wrote a post today about First Plus claiming unfair rebate recently and got enhanced rebate and stated FSA rule on unfair rebates they maybe able to help

Laini xx:p