PPI Reclaiming discussion Part II

Kaia_2

Yes thats 14 days since the acknowledgement, so i'll give them till the 14th June then ,(adding on another 7 days as you say)...
I am away from 11th to the 18th so will prepare and print off a few bits before I go for my little file ....and then I should know exactly whats what by the time I get home.
If they do file a defence by the due date, how long do I get to reply?

Kaia_2

By the way,,,yes the SAR is for this case.
I had only asked for the CCA in the begining and not a SAR , so i sent off about 20 days ago, they have said they are preparing it to send.

m.colak

Kaia wrote: »

Yes thats 14 days since the acknowledgement, so i'll give them till the 14th June then ,(adding on another 7 days as you say)...
I am away from 11th to the 18th so will prepare and print off a few bits before I go for my little file ....and then I should know exactly whats what by the time I get home.
If they do file a defence by the due date, how long do I get to reply?

Usually they will give you at least a period of twenty eight days to ensure all the proper paperwork and documentation is filed however there is nothing stopping you asking the court to possible contact you by phone if the company file a defense as you won't be in the country to read any response's. There isn't anything stopping you sending in all the documentation on the 10th-11th that means that the company won't get it by the 14th anyway and by the time they figure out that they have a ongoing case it will be too late and you can serve the judgement by default on the 13th to make sure.

doingmybest_3

tiggrae wrote: »

ok

72 months x £281.45 = £20264.40
of this about 7.5% was the PPI or £21.10 (£21.10 x 72 = £1519.83)

20264.40 - 1519 = £18744.57 (or £260.35 x 72 = £18745)

so you paid 22 months

22 x 260.35 = £5727.70
22 x 21.10 = £464.20 + £5727.70 = £6191.90

Obviously settling early means you paid less interest, but you need to know how much of the settlement figure was ppi - you paid £464.20 + £538.46 (rebate) - so you've probably had to pay an additional £517.17 when you settled

£464.20 + £538.46 + £517.17 = £1519.83
So if you're going for mis selling you've paid in total for the ppi £981.37

Thanks for your help. I am going for misselling and for the disproportionate rebate. In terms of the rebate what amount should they have paid back to me?

shooter

Hi All
I am now starting on my mothers reclaiming and most will be for PPI.

Here's Account History;

My mother took out a new loan sizeable with LLoyds TSB in 2003 at the age of 69.

This loan was a new loan that paid of an existing loan leaving the residue for other things.she was sold a single premium PPI policy with this new loan.

My mother had claimed on the previous insurance policy after a heart attack in 2001 so the bank were fully aware of her medical history not to mention her age.

She defaulted on the account in late 2004 and started repayments through CCCS.

At the time lloyds Tsb were asked to suspend interest on this account but they didn't.

They are still adding interest and the CCCS payments do not even cover this.

My Question is

Can she reclaim the PPI?

Any Advise would be welcomed

sarahc5388

m.colak wrote: »

Yep it seems ok maybe change the wording so its a little bit more official like:

Dear sir/madame,

I am writing in reference to the policy xxxxxxxxxx and this was settled on the xxxxxx with the amount £10269.69. On xxxxxxx you credited myself with a rebate of £750.72. I appreciate the credit however I would like now to have a full breakdown of the figures relating to the settlement of the account including, but not exclusively, any additional interests, charges, rebates and methods of calculations made to this figure. This is so I can see that the figure you derived was accurate, and in no way disproportional to the final actual amount of money I paid for the policy. I appreciate you time and effort in this matter and hope that you will be expendiant in your reply in order to settle this current query i have.

Many thanks

x

ps if you have already asked for a SAR you should include about it being ommited from the original request for information.

Wow, thanks, that's much more betterer than mine - cut and pasted and send has been hit! If I ever meet you I owe you a rather large beer, will let you know of any response! Also had a letter re my PPI claim, they are investigating and I will have an update or an answer as soon as possible but no later than 9 jun 08, so the count down has begun, will let you all know what they say.

m.colak

shooter wrote: »

Hi All
I am now starting on my mothers reclaiming and most will be for PPI.

Here's Account History;

My mother took out a new loan sizeable with LLoyds TSB in 2003 at the age of 69.

This loan was a new loan that paid of an existing loan leaving the residue for other things.she was sold a single premium PPI policy with this new loan.

My mother had claimed on the previous insurance policy after a heart attack in 2001 so the bank were fully aware of her medical history not to mention her age.

She defaulted on the account in late 2004 and started repayments through CCCS.

At the time lloyds Tsb were asked to suspend interest on this account but they didn't.

They are still adding interest and the CCCS payments do not even cover this.

My Question is

Can she reclaim the PPI?

Any Advise would be welcomed

Ok hmmmm,

First of all when she defaulted on the loan did she default because of the medical condition because if so then the PPI should have covered the loan and been paid off. Second personally i don't know what you should try and do on this one then attempt to claim on the validity of the loan (ie that it should have never been sold to her in the first place seeing she was pretty old (sorry)) or attempt to gain the paperwork and find out if when she consolidated the loan that she wasn't disproportional rebated in lue to gaining the new loan. It really is a tricky one as they should not of let her refinance the loan in the first place (sorry) possible it would have been better for them to restructure the exsisting debt into one place instead. Unfortunately it is a bit of a technical swamp and i don't believe that you will be able to reclaim on the PPI as the company can argue that they did act in her best interest when selling her the PPI as of the previous medical condition which should have covered her in the first instance.

If she had the original loan which had PPI and the loan wasn't paid off i would possible fight this as i would then use this as the pointer to say that them not furfilling the PPI promise on the first loan cause the financial hardship which caused her to require the consolidated loan. Hope this helps.

Laini

marshallka wrote: »

It was settlement interest (deducted in the letter - added on the loan and then told it was added and right to be added)

My letter to the FOS is here


I received my SAR from Firstplus and upon looking at the transactions I noted that I had paid an amount referred to as “SIN” for £1388.13 and queried this with them. I subsequently received a reply from them that this amount was settlement interest DEDUCTED at the point of settlement. This amount that they say was deducted from my account at settlement was actually added on. I then telephoned yourselves to ask what I should do, either send this into you or call Firstplus and you advised me to ring FIrstplus. I have today called them with regards to this and spoke to the person who wrote the letter and she says that she wrote the letter wrong and should of written added instead of deducted. I enclose copies herewith.

I told Firstplus that I had put a claim in with the FOS for the extortionate settlement figure I repaid to them and that maybe they had made a mistake. They said they had not and that my settlement was fair. I find this “unfair terms in consumer contract regulations” Contrary to the requirement of good faith it causes a significant imbalance in the parties' rights and obligations under the contract, to the detriment of consumers and I said that there was no way my settlement was capped like all unregulated lenders (as Firstplus were at this time in April 2003) were told to do by the OFT in 1997. Also they were also asked stop using this method at their earliest convenience, 6 years later and they still used this method. I was told by Firstplus that this rule of 78 was explained in my terms and conditions (a copy of which is enclosed) and that I knew about it. The only time I knew about this was at settlement. The OFT also asked that this should be written in plain intelligible English and this was not the case. The OFT asked that unregulated lenders should cease using this method and move to alternative methods of calculating the settlement figure but again Firstplus continued to use the rule 78. They said any charges for settlement should be REASONABLE and do no more than cover the lenders admin costs and any costs reasonably incurred to date and not already recovered. I find our settlement was clearly EXCESSIVE of this. I therefore would like you to look into my claim and would like a fair rebate for the amount I actually borrowed. I have NOW been sent out a clear document with the rule of 78 explained but was NOT sent one at the time I borrowed the money. The OFT asked that all unregulated lenders should send out clear documents. The document I have now received is dated in 2005 and before that they did not produce any documents. My loan was taken out in 2000 and settled in 2003.
According to the UTCCRs, a standard term must be expressed in plain and intelligible language. A term is open to challenge if it could put the consumer at a disadvantage because he or she is not clear about its meaning –( We was not told of the rule of 78 upon taking out the loan and it was not in my terms and conditions) even if its meaning could be worked out by a lawyer. If there is doubt as to what a term means, the meaning most favourable to the consumer will apply.

I have also received a copy of the terms from the PPI which was added to the loan by Firstplus at the time we took the loan out. This policy was a Firstplus own policy and called “Cashback” and we were told it was a condition of the loan. I have argued this so many times with Firstplus as we were not given a choice on taking this and that I find this negligent misrepresentation under the misrepresentation act 1967 on their behalf and wish to esculate this claim also. We should have been told we could buy this elsewhere or that it was optional and they failed in their “Duty of Disclosure” to us. We were not given a choice of having this insurance and not told we could buy elsewhere and we find the way it was sold to us to be liable under the misrepresentation act 1967. Also I note that this policy only ran for 5 years and not the term of the loan and was an upfront payment that we then paid interest on until the full term. Again this was an unfair contract. Firstplus were making huge profits from these policy’s and we feel we were sold this purely for Firstplus to make further profits from us and not for our “insurance” interest. (contracts of utmost goodfaith)

I truly hope that you can help me with my case as this put my family in hardship at the time and we are still experiencing hardship as result of this.



Does this sound ok to you. It was in addition to my actual complaint form being sent in

great !!!!I was as angry as you when I wrote my letters to First Plus but they have to realise the consequences of THEIR actions
I really do hope you are successful you deserve it.
keeping quiet doesnt help fighting your corner does.
Laini xx:j

marshallka

Laini wrote: »

great !!!!I was as angry as you when I wrote my letters to First Plus but they have to realise the consequences of THEIR actions
I really do hope you are successful you deserve it.
keeping quiet doesnt help fighting your corner does.
Laini xx:j

Laini, this was my letter about FIRSTPLUS that i have today sent in to the FOS. Do you think its too much for the FOS and he may throw it out. I have already sent in my complaint and other forms but they have not had a chance to look yet but this is extra info for them and some waffling again about my original arguments. I have this time quoted actual extracts from the OFT and acts etc. Do you really think i stand a chance.

joeandy

hi there new to this. currently in the process of claiming back ppi on OH loan with lloyds tsb. he is self employed and did application on-line.he never actually spoke to anyone about ppi and if it would be suitale for his circumstances.does anyone know if he can still claim