PPI Reclaiming discussion Part II

di3004

marshallka wrote: »

God Di, how many do you have:eek:

We had 5 loans ever in our lives....

lol....oops.......:o , yes we had a few over the years, thing is some are quite old and I know I do not have the docs for them, maybe too late for them, only found bits of docs here for them, I would say about 5 loans from lloyds from what I can remember.......:o

marshallka

di3004 wrote: »

lol....oops.......:o , yes we had a few over the years, thing is some are quite old and I know I do not have the docs for them, maybe too late for them, only found bits of docs here for them, I would say about 5 loans from lloyds from what I can remember.......:o

So how many claims are you actually making in all with credit cards and loans???

di3004

marshallka wrote: »

So how many claims are you actually making in all with credit cards and loans???

Hmm now lets think lol, I think there will be about 3 with lloyds that had ppi.
There are 3 Credit cards between me and hubby, (2 of his and 1 of mine).

Not sure what is happening about Click yet........
Endeavour/rebate ????question mark on that one now.....

Nemo done and dusted
Liverpool done and dusted

Eloan with FSCS.

I worked that out 11 in total (no point including the non ppi lloyds loans), 2 done and dusted, not sure what is happening with Click and Endeavour, with a bit of luck eloan/twopart will be sorted, okay not a big one there either but it all adds up doesn't it really.

di3004

I think we could all do with some good luck do you think?

Christmas is not far away........:rolleyes:

And now that they have taken on new Adjudicators, is it me thinking it or have they been moving on a bit quicker ?

Don't know what to do about my endeavour one now, leave it to see what happens or if I did have a chance should I write to the insurers just in case ?

I am absolutely hopeless when it comes to calculations lol and I must try to remember the rebate already given must not be included - silly me pmsl

di3004

Latest FOS publications news update:

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/73/73.htm

nomorevictims

Good morning folks,

Marshallka was sorry to read your last few blogs, what a set back for you. Particularly as you had come so far only to be set back at the final hurdle. I hope it works out for you. Just stay positive ok!

Got an email from my adjudicator wanting more information about my loans with Welcome. He wants to know what discussions took place with Portfield financial services as they packaged the loan and what was explained about ppi. These loans were taken with Welcome in 2004 & 2006. I don't think I can actually recall exactly what happened. I did explain already that my conversations were held with Welcome and that Portfield were merely acting as brokers. I don't know what other information he needs? This is very frustrating not to mention time consuming. The FOS won't let up, everything has got to be precise. I can just about remember what I did last week let alone 4 years ago.

nomorevictims

Good morning again folks,

The post has just arrived this morning and my complaint with Black Horse finance has been upheld by the ombudsman. This is a victorious day not only for me but for the forum. Justice has prevailed:j FINALLY. After 10 months of waiting the FOS has come up trumps.

However, I need you to do something for me and that is to calcuate the amount of money I should get back. I had 3 loans with BH which was taken out in 2005, 2006 & 2007. The loans dated 2005 & 2006 have been repaid early.

The calculations are as follows;

2005 - ppi £860.88. If the loan had run it's full term the additional interest would have been £1,201.92.

2006 - ppi £1,148.50. If the loan had run it's full term the additional interest would have been £1,359.84.

2007 - ppi £2,669.73. If the loan is to run it's full term the total cost of ppi is £3,798.


(a) The ombudsman has requested that the 2007 loan is re-arranged by writing off all amounts that remain outstanding in respect of the borrowing of the ppi premium, including interest and charges, so that the future number and level of outstanding payments against the loan are the same as would have applied had she taken the original loan sum without ppi cover.

(b) Calculate the amount she has paid to it up to the time of settlement in respect of the additional borrowing for the ppi premium, including interest charged, add interest on each of the additional payments made for this at the rate of 8% per annum simple from the date each payment was made to the date Black Horse pays compensation, less any premium refund actually paid to her on cancellation of the policy.

(c) Pay Mrs **** the amount calculated in (b) along with a note showing how it has calculated the amount concerned.

For the 2005 & 2006 loans;

(a) Calculate the amount Mrs**** paid in total in respect of her loan, including fees, penalties, as well as interest and repayments and reflecting any premium refund allowed on cancellation of the ppi policy.

(b) Calculate the amount she would have paid in total on the loan if it had been taken without additional borrowing to fund the ppi, but assuming it was settled on the same date (including fees, penalities, as well as interest and repayments).

(c) pay Mrs **** the difference between (a) and (b) plus interest at 8% per annum simple from the date her loan was redeemed to the date Black Horse pays this compensation.

Sorry it's long winded, please bear with me.

2005 loan was taken over 48 months but was redeemed in Feb 2006.

2006 loan was taken over 48 months but was redeemed in June 2007.

2007 loan was taken over 60 months and is current.

Hope this info helps.

maxdp

nomorevictims wrote: »

Good morning again folks,

The post has just arrived this morning and my complaint with Black Horse finance has been upheld by the ombudsman. This is a victorious day not only for me but for the forum. Justice has prevailed:j FINALLY. After 10 months of waiting the FOS has come up trumps.

However, I need you to do something for me and that is to calcuate the amount of money I should get back. I had 3 loans with BH which was taken out in 2005, 2006 & 2007. The loans dated 2005 & 2006 have been repaid early.

The calculations are as follows;

2005 - ppi £860.88. If the loan had run it's full term the additional interest would have been £1,201.92.

2006 - ppi £1,148.50. If the loan had run it's full term the additional interest would have been £1,359.84.

2007 - ppi £2,669.73. If the loan is to run it's full term the total cost of ppi is £3,798.


(a) The ombudsman has requested that the 2007 loan is re-arranged by writing off all amounts that remain outstanding in respect of the borrowing of the ppi premium, including interest and charges, so that the future number and level of outstanding payments against the loan are the same as would have applied had she taken the original loan sum without ppi cover.

(b) Calculate the amount she has paid to it up to the time of settlement in respect of the additional borrowing for the ppi premium, including interest charged, add interest on each of the additional payments made for this at the rate of 8% per annum simple from the date each payment was made to the date Black Horse pays compensation, less any premium refund actually paid to her on cancellation of the policy.

(c) Pay Mrs **** the amount calculated in (b) along with a note showing how it has calculated the amount concerned.

For the 2005 & 2006 loans;

(a) Calculate the amount Mrs**** paid in total in respect of her loan, including fees, penalties, as well as interest and repayments and reflecting any premium refund allowed on cancellation of the ppi policy.

(b) Calculate the amount she would have paid in total on the loan if it had been taken without additional borrowing to fund the ppi, but assuming it was settled on the same date (including fees, penalities, as well as interest and repayments).

(c) pay Mrs **** the difference between (a) and (b) plus interest at 8% per annum simple from the date her loan was redeemed to the date Black Horse pays this compensation.

Sorry it's long winded, please bear with me.

2005 loan was taken over 48 months but was redeemed in Feb 2006.

2006 loan was taken over 48 months but was redeemed in June 2007.

2007 loan was taken over 60 months and is current.

Hope this info helps.

Hi Nomorevictims. First of all well done:rotfl::T

Couple of questions were these loans refinanced or were they stand alone Loans. Have you got the amounts that were refunded on the PPI when the loans were settled? Sorry need a few more figures on here, e.g. how many months they were over total PPI total interest and what they refunded when settled or re financed. Am sure somebody will then be able to help you.

marshallka

nomorevictims wrote: »

Good morning folks,

Marshallka was sorry to read your last few blogs, what a set back for you. Particularly as you had come so far only to be set back at the final hurdle. I hope it works out for you. Just stay positive ok!

Got an email from my adjudicator wanting more information about my loans with Welcome. He wants to know what discussions took place with Portfield financial services as they packaged the loan and what was explained about ppi. These loans were taken with Welcome in 2004 & 2006. I don't think I can actually recall exactly what happened. I did explain already that my conversations were held with Welcome and that Portfield were merely acting as brokers. I don't know what other information he needs? This is very frustrating not to mention time consuming. The FOS won't let up, everything has got to be precise. I can just about remember what I did last week let alone 4 years ago.

Wow, Doesn't he already have that information in the SAR that they request from the company....

marshallka

nomorevictims wrote: »

Good morning again folks,

The post has just arrived this morning and my complaint with Black Horse finance has been upheld by the ombudsman. This is a victorious day not only for me but for the forum. Justice has prevailed:j FINALLY. After 10 months of waiting the FOS has come up trumps.

However, I need you to do something for me and that is to calcuate the amount of money I should get back. I had 3 loans with BH which was taken out in 2005, 2006 & 2007. The loans dated 2005 & 2006 have been repaid early.

The calculations are as follows;

2005 - ppi £860.88. If the loan had run it's full term the additional interest would have been £1,201.92.

2006 - ppi £1,148.50. If the loan had run it's full term the additional interest would have been £1,359.84.

2007 - ppi £2,669.73. If the loan is to run it's full term the total cost of ppi is £3,798.


(a) The ombudsman has requested that the 2007 loan is re-arranged by writing off all amounts that remain outstanding in respect of the borrowing of the ppi premium, including interest and charges, so that the future number and level of outstanding payments against the loan are the same as would have applied had she taken the original loan sum without ppi cover.

(b) Calculate the amount she has paid to it up to the time of settlement in respect of the additional borrowing for the ppi premium, including interest charged, add interest on each of the additional payments made for this at the rate of 8% per annum simple from the date each payment was made to the date Black Horse pays compensation, less any premium refund actually paid to her on cancellation of the policy.

(c) Pay Mrs **** the amount calculated in (b) along with a note showing how it has calculated the amount concerned.

For the 2005 & 2006 loans;

(a) Calculate the amount Mrs**** paid in total in respect of her loan, including fees, penalties, as well as interest and repayments and reflecting any premium refund allowed on cancellation of the ppi policy.

(b) Calculate the amount she would have paid in total on the loan if it had been taken without additional borrowing to fund the ppi, but assuming it was settled on the same date (including fees, penalities, as well as interest and repayments).

(c) pay Mrs **** the difference between (a) and (b) plus interest at 8% per annum simple from the date her loan was redeemed to the date Black Horse pays this compensation.

Sorry it's long winded, please bear with me.

2005 loan was taken over 48 months but was redeemed in Feb 2006.

2006 loan was taken over 48 months but was redeemed in June 2007.

2007 loan was taken over 60 months and is current.

Hope this info helps.

Well done nomorevictims...:j

I will try to have a proper look later... can't promise anything though....