PPI Reclaiming discussion Part II

Robbed?

Me again! I have another question regarding the loan- the amount I was paying a month before cancelling the loan insurance was £253.38- when I cancelled the insurance which was meant to be in the region of £50+ it only reduced my payments to £221.18- something to do with paying more off the insurance at the beginning? Could you please explain this to me since it's almost like a foreign language to me?

Thanks

Oh and to get in the region of 7k would be fantastic since that plus what I've already paid off might mean I can afford a garage as opposed to a garden shed even if its still not a house haha x

m.colak

Robbed? wrote: »

Okay- I have just looked at some *old* bank statements- a few are missing but these are the details regarding loans from the one's I do have-

18/03/02

---

Charges

---

PLP Premium

---

£124.00

---

Transfer

---

New Loan

---

£1124.00

11/02/03

---

Credit

---

Loan Funds

---

£697.01

---

Transfer

---

Loan Insurance Refund

---

£367.00

21/03/03

---

Credit

---

Loan Funds

---

£5500.00
27/03/03

---

Transfer

---

Repay Loan

---

£4112.06

16/09/03

---

Credit

---

Loan Funds

---

£24.06

24/02/04

---

Credit

---

Loan Funds

---

£2594.46

---

Debit

---

£2500.00

08/06/05

---

Credit

---

Loan Funds

---

£8300.00

---

Transfer

---

To repay Loan

---

£7291.23

28/11/05

---

Credit

---

Loan Funds

---

£1021.48


Please also note - I received a response letter from them in March saying 'thank you for my letter dated 1st March they are looking into the matter and will contact me again within 28 days with a response' - although they still haven't got back to me yet- do I take this letter as a good sign since surely if they thought they were right it would have been a straight 'no-way' wouldn't it? Or am I just wishful thinking?

Stacey x

stop have just seen this properly now give me 5 more mins

angelwillow

homer_j wrote: »

Yes GE can be taken to task if they have done wrong. It would involve litigation but are a huge spot on the radar as far as flawed contracts are concerned.

Do you think it is worthwhile me trying to take this further with the limited info that they have given me? I asked for statements to work out the sums involved but they informed me that 27 months of statements from the 3 years that I had the card were 'missing'. And 11 months were missing from another card that I had.
So that is all that I have apart from a copy of the agreement filled in while in the shop. They have no other written confirmation from me or any record of phone calls etc.
It's only just over £200ish (can't say for definate obviously since so many statements are not available) but that's not the point - it's their arrogance that gets me!

Robbed?

The loans were mainly for 1k each with the exception of a £1500 and a £2000- adding up what I have paid over the years £2 to £300 a month for the past 6 years without fail- surely they have had their money plus interest by now so how can I owe such a vast sum of money if I haven't been ripped off? I also think I've paid at least 4k in payments off the last one and taking off the now cancelled PPI- the 15k mark should have been drastically reduced by now anyway shouldn't it?

Stacey x

Stacey x

angelwillow

m.colak wrote: »

It definently sounding like the FLA don't want to get involved on this one. If the FOS don't want to get involved then you might look at claiming via the small claims route at court. Personally i would raise it with the OFT that the FLA seem to be not carrying out full investigations and not acting like a regulatory body should. This might actually cause the case to be re opened and investigated properly.

Will try the OFT as first option - just concerned that I don't have enough evidence to proceed to court as that is what FLA have basically told me.

m.colak

Robbed? wrote: »

Me again! I have another question regarding the loan- the amount I was paying a month before cancelling the loan insurance was £253.38- when I cancelled the insurance which was meant to be in the region of £50+ it only reduced my payments to £221.18- something to do with paying more off the insurance at the beginning? Could you please explain this to me since it's almost like a foreign language to me?

Thanks

Oh and to get in the region of 7k would be fantastic since that plus what I've already paid off might mean I can afford a garage as opposed to a garden shed even if its still not a house haha x

Ok have just done some re calculations and here you are:

11/02/03 606.66 Overpaid not 367.55
27/03/03 1125.41 Overpaid not 552.94
16/09/03 2846.27 Overpaid not 631.47
24/02/04 3619.06 Overpaid not 816.97
28/11/05 2612.47 Overpaid not 796.67

Shouldn't there be one around the 02/07/06 as well?

Looking at some of these figures unless you had part of the money in cash or paid into another account you have been grossly overcharged each time you refinanced.

This totals: £10809.87 So unless you paid the refinance money into another account or got them to write a cheque to pay for something else you definently have a case. I hope this is better news.

Ps this doesn't include the £3k for the PPI either.

Can you tell me if you had top up loans and how much they were and when and we will see how that effects the figures.

m.colak

angelwillow wrote: »

Will try the OFT as first option - just concerned that I don't have enough evidence to proceed to court as that is what FLA have basically told me.

Have you sent off for a SAR from the company yet as that will be all the evidence you need plus references to certain acts depending on what route you are using.

angelwillow

Yes but only last week so nothing back yet obviously.

I want to claim on the fact that the assistant never told me what was involved nor that it was optional - just that it was best to have it incase for any reason I couldn't pay and just to sign in the box (stupid me!) - also I doubt if she was actually trained to sell this. I never received any terms and conditions etc but not knowing that I should I didn't query it at the time.
My works pays me when I am off so I wouldn't have needed it if it was explained.
So general mis-selling?

angelwillow

angelwillow wrote: »

Do you think it is worthwhile me trying to take this further with the limited info that they have given me? I asked for statements to work out the sums involved but they informed me that 27 months of statements from the 3 years that I had the card were 'missing'. And 11 months were missing from another card that I had.
So that is all that I have apart from a copy of the agreement filled in while in the shop. They have no other written confirmation from me or any record of phone calls etc.
It's only just over £200ish (can't say for definate obviously since so many statements are not available) but that's not the point - it's their arrogance that gets me!

Posted this earlier up the page if it helps what info that I have.

Robbed?

I think the first time I had 1k cash to buy a laptop etc while at college, the 2nd time it was another 1k to buy a car, the 3rd time was for 2k for my first flat, then another 1k to upgrade my car etc- each time it was only for 1k at a time with the exception of the 2k mentioned and a £1500 to get the car sprayed and clear my overdraft.

Thanks x

Robbed? wrote: »

The loans were mainly for 1k each with the exception of a £1500 and a £2000- adding up what I have paid over the years £2 to £300 a month for the past 6 years without fail- surely they have had their money plus interest by now so how can I owe such a vast sum of money if I haven't been ripped off? I also think I've paid at least 4k in payments off the last one and taking off the now cancelled PPI- the 15k mark should have been drastically reduced by now anyway shouldn't it?

Stacey x

Stacey x