PPI Reclaiming discussion Part II

TwinsMum_2

Tor82 wrote: »

Hi Twins mum

We reclaimed from first plus/loans.co.uk and have had the interest refunded to the loan (£1850) and the ppi payments in a cheque (1500) this was on a 37000 loan, it has reduced our payments by £120 a month so keep chasing!! we went through a bit of a back door by calling the supervisor at loans.co direct and played the dumb blonde card, said we had been told that it had to go to small claims court and I wasnt to sure what i was doing can you please give me your addresses for the court summons to go to........ we had the cheque by the next morning! I think they know that the court will look more kindly an the customer as the company has already admitted they were in the wrong.

Sorry for the long post but i spoke to the FSA and they have told me they have issued no formal guide lines on this so dont let the companies tell you they have, firstplaus and loans.co name dropped the FSA loads of times!

How long had you had your loan before you put in the claim

TwinsMum_2

tiggrae wrote: »

ok - this is just going to be rough as I guess you're on a variable rate of interest - but I work out £7222 to be about 20% of the total loan excluding interest - therefore 20% of the £364 you've been paying a month is £72.80 - which will include the interest element.

You need to feed £72.80 into the bank charges calculator on here for each month over the last 3 years you've paid the PPI - that will work out the 8% statutory interest for you.

Great Thank you, now wheres the Bank charges calculator.

tiggrae

TwinsMum wrote: »

Great Thank you, now wheres the Bank charges calculator.

you need to look on the bank charges forum !!!

TwinsMum_2

tiggrae wrote: »

you need to look on the bank charges forum !!!

Thank you at least I now have a rough idea of what I am or should be expecting (found the calculator) will wait and see what I am offered.

Laini

Hi
everyone
just wanted to put my details of first plus PPI complaint

we consolidated our debt (paying off Nemo and other debts)

the FIRST PLUS loan we took out was for
cash =70,000
PPI = 17,143.00
on the 23.11.06

our first monthly payment was for 568.01 = loan 139.10 = PPI = 702.11 in total

This went up practically every month until our last monthly payment was approx 900.00 in the year we had the loan.

We settled the loan on 4th Jan 2008 we were at this point with FOS as we had been told the settlement figure was correct and it was their final response as we had sent letters to say we were mis sold startiing sept 2007, I even emailed the MD on a sunday and he replied within an hour but to no success just got referred back to head of complaints who then said they could not respond anymore and we would have to wait for the FOS to deal with it..

the settlement figure break down

as of 4th jan 2008

current balance 87029.82
settlement interest 742.79
future charges 150327.64

total before rebate 238100.25

insurance rebate 3949.36
interest rebate 150369.37
total rebate 154318.73
total after rebate 83781.52
fee 150.00
balance to settle 83931.52

we have now been allocated someone at FOS who is dealing with our FIRST PLUS complaint and Nemo complaint at the same time.
I have sent a SAR

I just wanted to know in an ideal world if we are successful or I need to go to court what would the figure be if we were asked to put forward the amount we would be happy to accept

any info welcome

TTFN

Laini xx

spoonface1

First post - any advice?

We've become convinced we have been mis-sold PPI insurance by HSBC, having read the info on here. We have a loan still being paid, taken out with HSBC in Nov 2002. When I asked for terms and conditions, they said quote: '....all copies at the branches were destroyed or withdrawn earlier this year'.

Convenient! Suely is the loan is still running this can't be the case? What if I wanted to claim? This could be declined, but where would be the basis for challenge if paperwork doesn't exist? Shouldn't this paperwork be kept for the term of the loan?

Will tis affect my mis-selling application? Gratful for thoughts

Spoonface1

lilac_lee_2

I am about to try and claim back my PPI from a car finance agreement I had with Blackhorse, this was arranged through the garage I bought my car from. Do I need to write to the garage or Black horse, I feel the car salesman had no financial background and it was certainly implied that by taken out PPI would increase my chance of being accepted for the loan.

Blackhorse have lots of address and I don't know which one to write to.
Also my husband is about to try and claim back his Credit card charges and I noticed we had PPI on these aswell. Should we claim these separately or all together.

I can't believe how gullible I have been over the years to just to accept what the banks say or apply to my accounts.
Lilac_lee

tiggrae

spoonface1 wrote: »

First post - any advice?

We've become convinced we have been mis-sold PPI insurance by HSBC, having read the info on here. We have a loan still being paid, taken out with HSBC in Nov 2002. When I asked for terms and conditions, they said quote: '....all copies at the branches were destroyed or withdrawn earlier this year'.

Convenient! Suely is the loan is still running this can't be the case? What if I wanted to claim? This could be declined, but where would be the basis for challenge if paperwork doesn't exist? Shouldn't this paperwork be kept for the term of the loan?

Will tis affect my mis-selling application? Gratful for thoughts

Spoonface1

Take your complaint to the Financial Ombudsman, let them sort it out with HSBC

tiggrae

lilac_lee wrote: »

I am about to try and claim back my PPI from a car finance agreement I had with Blackhorse, this was arranged through the garage I bought my car from. Do I need to write to the garage or Black horse, I feel the car salesman had no financial background and it was certainly implied that by taken out PPI would increase my chance of being accepted for the loan.

Blackhorse have lots of address and I don't know which one to write to.
Also my husband is about to try and claim back his Credit card charges and I noticed we had PPI on these aswell. Should we claim these separately or all together.

I can't believe how gullible I have been over the years to just to accept what the banks say or apply to my accounts.
Lilac_lee

on the car side, if you are claiming mis selling it needs to be whoever sold you the policy not the policy holder

tiggrae

Laini wrote: »

Hi
everyone
just wanted to put my details of first plus PPI complaint

we consolidated our debt (paying off Nemo and other debts)

the FIRST PLUS loan we took out was for
cash =70,000
PPI = 17,143.00
on the 23.11.06

our first monthly payment was for 568.01 = loan 139.10 = PPI = 702.11 in total

This went up practically every month until our last monthly payment was approx 900.00 in the year we had the loan.

We settled the loan on 4th Jan 2008 we were at this point with FOS as we had been told the settlement figure was correct and it was their final response as we had sent letters to say we were mis sold startiing sept 2007, I even emailed the MD on a sunday and he replied within an hour but to no success just got referred back to head of complaints who then said they could not respond anymore and we would have to wait for the FOS to deal with it..

the settlement figure break down

as of 4th jan 2008

current balance 87029.82
settlement interest 742.79
future charges 150327.64

total before rebate 238100.25

insurance rebate 3949.36
interest rebate 150369.37
total rebate 154318.73
total after rebate 83781.52
fee 150.00
balance to settle 83931.52

we have now been allocated someone at FOS who is dealing with our FIRST PLUS complaint and Nemo complaint at the same time.
I have sent a SAR

I just wanted to know in an ideal world if we are successful or I need to go to court what would the figure be if we were asked to put forward the amount we would be happy to accept

any info welcome

TTFN

Laini xx

when did you take the loan out ?