PPI Reclaiming discussion Part II

marshallka

di3004 wrote: »

Wow thanks hun.;)

Didn't I add the same monthly repayment twice for both the loan and the ppi ? lol:o

Okay loan repayment a month for £10K = £154.23
PPI for £2,241.37 = £34.57
Total monthly = £188.80.

Optional payment protection - regenerated crossed as yes
Premium advanced as part of loan was also regenerated crossed as yes.

Price of PPi = £2,241.37
Interest on protection = £662.42
Total price of protection = £2,903.79

I did not miss any details out on this then did I ? lol

That was worked out using the rebate for the ppi form here


Final payment made was £9,676.45 and other £1658.23 ( i assumed this to be the rebate against the PPI??

di3004

The loan above was just a normal loan, not to refinance etc but I do have some here that we did refinance to another, so whereas the calculations will be worked out differently won't they? going from one to another I mean ?

di3004

marshallka wrote: »

That was worked out using the rebate for the ppi form here


Final payment made was £9,676.45 and other £1658.23 ( i assumed this to be the rebate against the PPI??

Thanks hun I will get back soon, gonna have my food, and check the written statement on the breakdown, and get back to you.;)

Anne.Jade

marshallka wrote: »

Hiya AnneJade, Have you seen what i was told today from the FOS about claims for unfair rebates and this applies to all claims....

Was yours for misselling or unfair rebate???

Hi Marshallka

Yeah I have seen your posts today. Mine is for misselling but they offered me an enhanced rebate to shut me up!!

I still don't understand how it's right though because the loan company lends you the money for the PPI up front and I would have thought they paid it to the insurance company straight away. If that was the case then it would still be the loan company that unfair rebate you. On my agreement it lists the cash loan and the PPI loan. So all the money comes from the loan company doesn't it. When you settle you don't get anything from the insurance company saying they will rebate you so much. It's all done by the loan company.

Martin has never said anything about you going to the insurers for unfair rebate either. Wonder what he would have to say. I really think this is something that they have conjured up to get them out of fair rebating.

di3004

Just quickly before I stuff my face lol.

Right the £1,658,23 came out of the account the same time as £9.676.45.
It shows this as debited.

marshallka

Anne.Jade wrote: »

Hi Marshallka

Yeah I have seen your posts today. Mine is for misselling but they offered me an enhanced rebate to shut me up!!

I still don't understand how it's right though because the loan company lends you the money for the PPI up front and I would have thought they paid it to the insurance company straight away. If that was the case then it would still be the loan company that unfair rebate you. On my agreement it lists the cash loan and the PPI loan. So all the money comes from the loan company doesn't it. When you settle you don't get anything from the insurance company saying they will rebate you so much. It's all done by the loan company.

Martin has never said anything about you going to the insurers for unfair rebate either. Wonder what he would have to say. I really think this is something that they have conjured up to get them out of fair rebating.

Yeah but think of it this way.. The PPI was actually a loan and incorporated in the loan agreement. The loan agreement is a banking complaint (Not under jurisdiction until Jan 2005) and the misselling of the loan agreement or the PPI is against the person that sold you it. If you had an unfair rebate then the rebate is calculated from whatever method is in the terms and conditions on the PPI policy (not the agreement) so its actually the underwriters that determine this and this is who you take your complaint for the unfair rebate to. Also you have to find the term in the terms and conditions that makes it unfair and I have found it on the FIrstplus cashback policy.

The FOS are finding out who was the underwriters of my actual policy as they stated that the one I have was sent with my SAR and is not actually "MINE" so they are asking this from Firstplus and then writing to them on my behalf for a final response. Upon receiving that they will then send out a complaint form and this will be under the jurisdiction of the FOS as all insurers come under compulsory jurisidiction and therefore they CAN deal with it.

What worries me now is not having my actual policy details...doing the loft this weekend so maybe I can have a proper look...

marshallka

di3004 wrote: »

Just quickly before I stuff my face lol.

Right the £1,658,23 came out of the account the same time as £9.676.45.
It shows this as debited.

Well just add that figure back to the amount that i calculated and then deduct whatever amount you had rebated.

marshallka

Anne.Jade wrote: »

Hi Marshallka



Martin has never said anything about you going to the insurers for unfair rebate either. Wonder what he would have to say. I really think this is something that they have conjured up to get them out of fair rebating.

Or looking on the bright side seeing as though I have no chance any other way then they have HELPED me to get something back by bringing it against these as these definately were under JURISDICTION. Time will tell.

After the phone call today and him explaining the FOS and what not, as I understood, singlep was right in that even for unfair rebates you have to use the date the policy was sold as the key date and if that was the case I could not complain to them about any of them. All not in jurisdiction..

This way it is...;) They know I have been done out of lots here...

Anne.Jade

marshallka wrote: »

Yeah but think of it this way.. The PPI was actually a loan and incorporated in the loan agreement. The loan agreement is a banking complaint (Not under jurisdiction until Jan 2005) and the misselling of the loan agreement or the PPI is against the person that sold you it. If you had an unfair rebate then the rebate is calculated from whatever method is in the terms and conditions on the PPI policy (not the agreement) so its actually the underwriters that determine this and this is who you take your complaint for the unfair rebate to. Also you have to find the term in the terms and conditions that makes it unfair and I have found it on the FIrstplus cashback policy.

The FOS are finding out who was the underwriters of my actual policy as they stated that the one I have was sent with my SAR and is not actually "MINE" so they are asking this from Firstplus and then writing to them on my behalf for a final response. Upon receiving that they will then send out a complaint form and this will be under the jurisdiction of the FOS as all insurers come under compulsory jurisidiction and therefore they CAN deal with it.

What worries me now is not having my actual policy details...doing the loft this weekend so maybe I can have a proper look...

Well I really hope you get somewhere this time and don't get knocked back again. The insurers must have your policy details though and surely they would have to give them over to the FOS if requested. Hope you find it in the loft.

Anne.Jade

marshallka wrote: »

Or looking on the bright side seeing as though I have no chance any other way then they have HELPED me to get something back by bringing it against these as these definately were under JURISDICTION. Time will tell.

After the phone call today and him explaining the FOS and what not, as I understood, singlep was right in that even for unfair rebates you have to use the date the policy was sold as the key date and if that was the case I could not complain to them about any of them. All not in jurisdiction..

This way it is...;) They know I have been done out of lots here...

So are they going to look at it properly then, not say next that you are time barred?