PPI Reclaiming discussion Part II

marshallka

di3004 wrote: »

Been trying to catch up with all your posts lol, but this thing had frozen on me......:mad: again !!

Just read your other above posts too regarding what Tiggrae, Tron_ess and Singlep had added, so if that is the case then the FOS will be able to look at mine from Endeavour about the rebate thing if after 2005 ?
Hopefully this one will not be returned to me then.

Oh the click was the one who had sold the Endeavour loan hun.;)

I cannot for the life of me find my old posts where M Colak has mentioned some things on this......

Here Di

Originally Posted by m.colak
Have worked out your payments must have been actually £214.91
Therefore based on settlement date October 05:

PPI Paid £255.62
Stat Interest £54.53
Actual Reclaim £310.15

PPI Rebate on settled figure:
PPI Remaining on Loan at settlement date: £2812.44
Stat Interest: £599.99
Actual Reclaim on Settlement figure: £3412.43

Total Reclaim: £3722.68

---

But this was before the rebate below so you take your rebate off his figure of 2812.44 - 1533 = 1279.44 plus stat interest.

marshallka

Then this was posted by the two of you

Originally Posted by di3004
Thank you very much indeed, that is wonderful, I have not got a clue about working out these calculations, and very happy you have done this for me, I apreciate this very much, a BIG thanks to you.

Can I just ask where you said the payment must have been actually £214.91,
does that mean that is what it worked out what they really did charged me sort of thing, comparing this to that amount of £208.51 on the agreement ?
And was the calculation including the rebate of £1.553 odd that Endeavour deducted off when settled ?

Sorry for the questions, just want to make sure before I request this on the reclaim, thank you so much your fantastic.;)

Di.
xx
The £214.51 is the monthly payment it would have taken for you to have paid off the loan originally (in 300 payments) and getting the same settlement figure that you had received from them.

Also if you received a rebate of £1533 have you confirmed what this was for? If it was for PPI then you were disproportionally rebated in the first place and therefore paid over the odds for settling the loan in the first place. At this point you have a choice take the £3722.68 and remove the £1533 and claim the difference as overpayment of PPI and then put a seperate claim in for the disproportionate rebate. Or claim the whole amount back if confirmed that the rebate had nothing to do with the PPI.

di3004

marshallka wrote: »

Then this was posted by the two of you

Originally Posted by di3004
Thank you very much indeed, that is wonderful, I have not got a clue about working out these calculations, and very happy you have done this for me, I apreciate this very much, a BIG thanks to you.

Can I just ask where you said the payment must have been actually £214.91,
does that mean that is what it worked out what they really did charged me sort of thing, comparing this to that amount of £208.51 on the agreement ?
And was the calculation including the rebate of £1.553 odd that Endeavour deducted off when settled ?

Sorry for the questions, just want to make sure before I request this on the reclaim, thank you so much your fantastic.;)

Di.
xx
The £214.51 is the monthly payment it would have taken for you to have paid off the loan originally (in 300 payments) and getting the same settlement figure that you had received from them.

Also if you received a rebate of £1533 have you confirmed what this was for? If it was for PPI then you were disproportionally rebated in the first place and therefore paid over the odds for settling the loan in the first place. At this point you have a choice take the £3722.68 and remove the £1533 and claim the difference as overpayment of PPI and then put a seperate claim in for the disproportionate rebate. Or claim the whole amount back if confirmed that the rebate had nothing to do with the PPI.

Thanks for all this hun
Funny enough I was about to post up as I just also found them on post 191 was it, date 20 July lol.

So what do you think ?;)

And yes that question asked by M Colak " what this was for ? was actually the PPI as stated in the letter from Endeavour "part rebate of the ppi.
Because the way you worked it out the other day there were some overhang wasn't there, although I know it was calculated different to yours, but is this similar to how you had worked it out ? well more or less sort of thing ?

Hmmmmmm going back to this how would I reclaim this separately then or just leave them to it to see what happens ?

marshallka

di3004 wrote: »

Thanks for all this hun
Funny enough I was about to post up as I just also found them on post 191 was it, date 20 July lol.

So what do you think ?;)

And yes that question asked by M Colak " what this was for ? was actually the PPI as stated in the letter from Endeavour "part rebate of the ppi.

Hmmmmmm going back to this how would I reclaim this separately then or just leave them to it to see what happens ?

I don't understand what you mean here Di . M colak did you a calculation on this unfair rebate and this was without the rebate that you did receive so you need to take off the rebate and then add the stat interest to that figure instead. Is that what you mean't??

marshallka

Di, was this endeavour PPi a seperate policy and only with interest over 60 months as long as the policy ran and not the full term...

di3004

marshallka wrote: »

I don't understand what you mean here Di . M colak did you a calculation on this unfair rebate and this was without the rebate that you did receive so you need to take off the rebate and then add the stat interest to that figure instead. Is that what you mean't??

I do not fully understand it either to be honest hun but I was just going by this: "paid over the odds for settling the loan in the first place", where there are 2 choices, but as they have rebated the £1533 he then adds remove that amount and claim the difference".
If ithe stat interest then what would that be ?

"Also if you received a rebate of £1533 have you confirmed what this was for? If it was for PPI then you were disproportionally rebated in the first place and therefore paid over the odds for settling the loan in the first place. At this point you have a choice take the £3722.68 and remove the £1533 and claim the difference as overpayment of PPI and then put a seperate claim in for the disproportionate rebate. Or claim the whole amount back if confirmed that the rebate had nothing to do with the PPI"

subes1

Hi Di
Yes i wrote to them saying that i believe that the PPI has been misold, they told me that i ticked the box on the application to say that i wanted this policy. Should i ask for a copy of the application? Or should i just get back to them again saying that it was misold and if i dont get a refund i will go to the ombudsman??
Gemma

di3004

marshallka wrote: »

Di, was this endeavour PPi a seperate policy and only with interest over 60 months as long as the policy ran and not the full term...

It was one of those 5 years cover to cover for a loan of 25 years, I know that.
They added it in with the loan did not know what the amounts would be without because it was not shown on the agreement (July 2004).

I know it was £208.51 in total to pay monthly for both.
That bit was shown on the agreement.

di3004

subes1 wrote: »

Hi Di
Yes i wrote to them saying that i believe that the PPI has been misold, they told me that i ticked the box on the application to say that i wanted this policy. Should i ask for a copy of the application? Or should i just get back to them again saying that it was misold and if i dont get a refund i will go to the ombudsman??
Gemma

I would write back anyway tell them you want them to reconsider this, maybe there were other reasons for why you were mis sold, such as you may not have been eligible for pre-med history problems, maybe they did not give you an option and made you think you had to have this to have the loan and so on.

Have you checked out the "Reclaim £1,000's" in the above red box above, there are lists of mis selling reasons on there, see if anything occurs to you hun and add that to the letter too, all because you signed the agreement it does not mean they did not mis sell you in other ways.

So get that done and sent by recorded post, and if you get the chance tomorrow ring them and request for a copy of the agreement.;)

Please post back to let us know what they say hun, thanks.

Di.
x

di3004

I posted this sometime in July on here

Secured Loan £21,000
Single PPI £2835.00
Total loan £23835.00

300 mths at £208.51
Apr 9.9%

Taken 30 July 2004

SETTLED IN FULL OCT/NOV 2005 of Settlement Figure = £23646.04

How they worked out their Calculations:

Current Balance - £23561.73
Add settlement interest - 374.71
Add Additional interest - 1123.29
Future charges + (Insurance) 39391.10

Total before rebate - 64450.83
less rebate - 40924.79

Total after rebate: 23526.04
Add legal fee: 120.00
Balance to settle: = £23646.04
.................................................................................................