PPI Reclaiming discussion Part II

dreamer33

Has anyone been on this website http://www.companieshouse.gov.uk//index.shtml

It tells you quite a bit about a company, don't know if its of any interest to anyone, but could help people trying to locate an address for a complaint or company number.

Once on the website click on the right hand side "webcheck".

I have also been on the FLA website its interesting.

More information

You can get more information from the
following websites:

The Financial Services Authority:

Website: www.moneymadeclear.fsa.gov.
uk/news/payment_protection_
insurance.html

Phone: 0845 606 1234

Citizens Advice:

Website: www.adviceguide.org.uk/index/
your_world/consumer_affairs/
insurance.htm

Phone: 020 7833 4371

The Association of British Insurers:

Website: www.abi.org.uk

Phone: 020 7600 3333

Protect:

Website: www.protect-aci.org.uk

Council of Mortgage Lenders:

Website: www.cml.org.uk/cml/consumers/

guides/protect

marshallka

Anne.Jade wrote: »

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

I only became aware just lately as you can tell by my earlier posts as I always thought my settlement was high because of the rule of 78 being applied as Firstplus always tried to make out:mad: . I never understood until this site about these single premium front loaded policies...

Don't say that Anne Jade...:eek:

Don't they have to keep records for 6 years from when you settled. If this is the case then I should be OK here...

If you want to check the costs and don’t have the paperwork, send a letter to your lender, requesting a full breakdown of your account, specifically including the cost of the Insurance. If you ended your agreement over six years ago your lender may no longer have this information as it only has to keep records for six years.

My agreement ended 5 years ago...

di3004

Now this has now got me, even though the amount of £1,658.23 was in line of the loan repayment debit section of where £9,676.45 is shown on the paperwork I have not got a clue now of the rebate.

Okay let me get this right now, if mis sold iI had taken it you would be put back in the position of just having the loan, but if unfair rebate you would just reclaim what you think was fair in rebate minus what they have already rebated.........:rolleyes:

Lloyds loan paid into the account 22 Dec 2004 of

£10,000 also debited into the account was the PPI of £2,241.37

Ist payment due


1 January Interest charged at £25.62 the balance = £12,266.99



Feb loan repayment of £188.80 balance = £12,078.19


Feb interest £79.81 balance = £12,158.00


March loan repayment of £188.90 balance = £11,969.20


March interest of £71.44 balance = £12,040.64


April loan repayment of £188.80 balance = £11,851.84


April interest £78.33 balance = £11,930.17


May interest £75.11 balance = £12,005.28


May loan repayment of £188.80 balance = £11,816.48


June loan repayment of £188.80 balance = £11,627.68


June interest £76.95 balance = £ 11,704.63


July loan repayment of £188.80 balance = £11,515.83


July interest £73.69 balance = £11,589.52


Aug loan repayment of £188.80 balance = £11,400.72


Aug interest £75.40 balance = £11,476.12


Sept loan repayment of £188.80 balance = £11,287.32


Sept interest £74.66 balance = £11,361.98


Oct interest £71.53 balance = £11,433.51


Oct loan repayment of £188.80 balance = £11,244.71


Nov loan repayment of £188.80 balance = £11,055.91


Nov interest £73.23 balance = £11,129.14


29 Nov final payment of £9,676.45 balance = £1,452.69


30 Nov other of £1,676.45 balance = - 205.54


30 Nov Interest charged £65.40 balance = -140.14


30 Nov early settlement fee £140.14 balance = 0.00


Total current Balance £13,222.68 - repayments £13,222.68


Total = 0.00


Your interest rate is fixed for the term.

marshallka

di3004 wrote: »

Now this has now got me, even though the amount of £1,658.23 was in line of the loan repayment debit section of where £9,676.45 is shown on the paperwork I have not got a clue now of the rebate.

Okay let me get this right now, if mis sold iI had taken it you would be put back in the position of just having the loan, but if unfair rebate you would just reclaim what you think was fair in rebate minus what they have already rebated.........:rolleyes:

Lloyds loan paid into the account 22 Dec 2004 of

£10,000 also debited into the account was the PPI of £2,241.37

Ist payment due


1 January Interest charged at £25.62 the balance = £12,266.99



Feb loan repayment of £188.80 balance = £12,078.19


Feb interest £79.81 balance = £12,158.00


March loan repayment of £188.90 balance = £11,969.20


March interest of £71.44 balance = £12,040.64


April loan repayment of £188.80 balance = £11,851.84


April interest £78.33 balance = £11,930.17


May interest £75.11 balance = £12,005.28


May loan repayment of £188.80 balance = £11,816.48


June loan repayment of £188.80 balance = £11,627.68


June interest £76.95 balance = £ 11,704.63


July loan repayment of £188.80 balance = £11,515.83


July interest £73.69 balance = £11,589.52


Aug loan repayment of £188.80 balance = £11,400.72


Aug interest £75.40 balance = £11,476.12


Sept loan repayment of £188.80 balance = £11,287.32


Sept interest £74.66 balance = £11,361.98


Oct interest £71.53 balance = £11,433.51


Oct loan repayment of £188.80 balance = £11,244.71


Nov loan repayment of £188.80 balance = £11,055.91


Nov interest £73.23 balance = £11,129.14


29 Nov final payment of £9,676.45 balance = £1,452.69


30 Nov other of £1,676.45 balance = - 205.54


30 Nov Interest charged £65.40 balance = -140.14


30 Nov early settlement fee £140.14 balance = 0.00


Total current Balance £13,222.68 - repayments £13,222.68


Total = 0.00


Your interest rate is fixed for the term.

This amount would be the insurance rebate Di..,

1,676.45

di3004

Okay what I have worked out is the whole amount that was paid in:

£188.80 x 10 = 1888

The amount of £9,676.23 + £1,658.23 = 11334.46 total at £13,222.68

This statement does not show a rebate
because that is the full amount paid in the loan in total.

di3004

marshallka wrote: »

This amount would be the insurance rebate Di..,

1,676.45

Cheers hun but because this was mis sold should I not go for the full amount, or they would not have added the ppi in the calculations if you know what I mean hun ?;) And if no ppi then it would have only been the loan calculations to work on when settling.....

Maybe me again though and my dizzy head lol, the ppi was that of £2,241.37
They then added interest of £662.42
Total used for ppi is that of £2,903.79

Going by the flat figure without the interest there is £564.92 used from £2,241.37, but this would not have been used if I did not take the ppi, am I correct, so this should also be included in the mis selling payment ???

marshallka

di3004 wrote: »

Cheers hun but because this was mis sold should I not go for the full amount, or they would not have added the ppi in the calculations if you know what I mean hun ?;) And if no ppi then it would have only been the loan calculations to work on when settling.....

Maybe me again though and my dizzy head lol, the ppi was that of £2,241.37
They then added interest of £662.42
Total used for ppi is that of £2,903.79

Going by the flat figure without the interest there is £564.92 used from £2,241.37, but this would not have been used if I did not take the ppi, am I correct, so this should also be included in the mis selling payment ???

The 1676.45 was a debit but it was the rebate so you need to take the rebate off the amount....

marshallka

di3004 wrote: »

Okay what I have worked out is the whole amount that was paid in:

£188.80 x 10 = 1888

The amount of £9,676.23 + £1,658.23 = 11334.46 total at £13,222.68

This statement does not show a rebate
because that is the full amount paid in the loan in total.

What actual amount did you pay them to settle the account?? Was it the £9676.23?
Nov final payment of £9,676.45

That left a balance of £1452.69 then they gave you the rebate against the insurance of £1676.45 and that left a credit then of 140.14 and this was charged as a fee..

Your PPI actually cost you

2903.88 which was the total PPI with interest divided by 84 months = 34.57 per month

You made 10 payments of 34.57= 345.70

Total PPI 2903.88 - the repayments of 345.70 = 2588.18 and then you got this rebate of £1676.45 = 881.73

Then you add the £881.73 to the repayments of 345.70 and get £1227.43 which is what the PPI actually cost you...

di3004

marshallka wrote: »

What actual amount did you pay them to settle the account?? Was it the £9676.23?

Yes it was the biggest amount of £9676.23 to settle as it was only 10 months into a 84 month loan, and do not understand why they also have the £1,658.23 right underneath in the Direct debit part ? because I do not recall of the lowest figure.

Where I have added the payments on one of the above posts the longest post then, also note balance after that of minus - balance -205.54 then they charged interest when settling that on the amount of £65.40 then minus balance of - 140.14 which was then early settlement fee of £140.14 then nil balance.

Yet when you add the whole lot up at the end of it the total amount for 10 months paid in was that of £13,222.68 which obviously includes the figures of £9,676.45 + £1,658.23.

marshallka

di3004 wrote: »

Cheers hun but because this was mis sold should I not go for the full amount, or they would not have added the ppi in the calculations if you know what I mean hun ?;) And if no ppi then it would have only been the loan calculations to work on when settling.....

Maybe me again though and my dizzy head lol, the ppi was that of £2,241.37
They then added interest of £662.42
Total used for ppi is that of £2,903.79

Going by the flat figure without the interest there is £564.92 used from £2,241.37, but this would not have been used if I did not take the ppi, am I correct, so this should also be included in the mis selling payment ???

You did have a rebate Di of the £1676.45 though....