PPI Reclaiming discussion Part II

fanofmartin_2

Thanks for that, the arrears aren't too much and I could actually get quite a lot back

jadest

Then hopefully some spare for you to enjoy!!:beer:
Good- luck

Laini

Hi Mcolak
Please could you help me with the figure of what I should expect from first plus
as you know we have won our case and are waiting now for FP to contact us with an offer
please find the following information

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 paid this settlement figure in jan 2008

this is what FOS have said

Accordingly I conclude that Firstplus should pay redress to you with the intention of putting you as closely as is practicable in the position you would have been in had the PPI policy not been sold.

I therefore recommend that Firstplus should:

(a)calculate the amount you paid in total in respect of your overall 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 you would have paid in total had the original loan been taken without the additional borrowing to fund the PPI, but assuming it was settled on the same date (including fees, penalties, as well as interest and repayments);

(c)pay you the difference between (a) and (b) plus interest at 8% per annum simple from the date your loan was redeemed to the date Firstplus pay this compensation.

Firstplus has agreed to my recommendation.

---

Lainixxxxx:j:j:j

TwinsMum_2

Well not strictly PPI claim couldn't get that back but I sent them a letter last week regarding the late payment fee of £20.00 that they slap on you. Got letter today they have paid my account off £118.00 and sent me vouchers for £125.00 to make up the £240.00 that I was claiming. OK I have to use the vouchers with them but better than a kick up the backside trouble is nothing really I want from them could I insist on the money or should I look alittle harder to use the vouchers with them this all only took a week, they stated that they are reviewing their charges due to the OFT ruling so that is good, they admitted no fault it was a good will gesture. Can't be bad eh for 1 stamp and 9 days to give it me all back.:j

m.colak

Laini wrote: »

Hi Mcolak
Please could you help me with the figure of what I should expect from first plus
as you know we have won our case and are waiting now for FP to contact us with an offer
please find the following information

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 paid this settlement figure in jan 2008

this is what FOS have said

Accordingly I conclude that Firstplus should pay redress to you with the intention of putting you as closely as is practicable in the position you would have been in had the PPI policy not been sold.

I therefore recommend that Firstplus should:

(a)calculate the amount you paid in total in respect of your overall 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 you would have paid in total had the original loan been taken without the additional borrowing to fund the PPI, but assuming it was settled on the same date (including fees, penalties, as well as interest and repayments);

(c)pay you the difference between (a) and (b) plus interest at 8% per annum simple from the date your loan was redeemed to the date Firstplus pay this compensation.

Firstplus has agreed to my recommendation.

---

Lainixxxxx:j:j:j

Hi laini,

might have to re write the program just for you however think i'm going to need a bit more information sorry.

Date of First Payment
List of Payments
Final Settlement Date
Number of Payments Made
Length of Loan (In month Payments please)

from this i can probably work the figures.

EileenWonder

I was sold a Suite by Reid furniture in Glasgow in September 03.
The salesman that sold me the suite told me I could have 3 years interest free credit. I signed up for a $2500 suite. i worked out the payments in my head at around the $50 mark.
He came back with the forms all filled in and said ok its $76 per month.
I queried this and had added on a warranty and PPI insurance. I said I dont want that insurance he argued and argued with me and then told me that I had been accepted by the credit company and that if he had to go back I would probably not qualify for the credit. By this point we had been in the store for over 2 hours and we felt pressured into just accepting it.
After seeing martins program in October about the misselling of PPI insurance I sent the template letter off to Reid.
They came back and said no way go away. This went backwards and forwards until I received the last letter from them in March saying there is now way we are paying you back.
I decided to take them to the small claims court here in glasgow.
They did not defend the action so I was awarded a decree against them on the 25th April. I then had to go and employ a Sheriff officer to get my money.
They were due to pay by today......Low and behold.....:mad::mad::mad:
I get a letter in the post from a solicitor saying the are recalling the decree....
They are saying that GE capital should have defended the case and they had told GE capital about it and they did nothing so I was wrong to take tham to court I should have taken GE capital to court...................As they were the finance company.
I now have to appear in court on the 27th June...Im sick with worry

Can they now win this
GE capital didnt sell me me the PPI Reid's Salesaman did!!!!

Anyone give me some advice on this as I am gonna be up against a solicitor.

Help

Eileen

Laini

m.colak wrote: »

Hi laini,

might have to re write the program just for you however think i'm going to need a bit more information sorry.

Date of First Payment
List of Payments
Final Settlement Date
Number of Payments Made
Length of Loan (In month Payments please)

from this i can probably work the figures.

Thankx Mcolak
I will dig them out

Laini xx
just got made redundant today so head is a bit messed up so it will be tomorrow when I can do it.:eek:

m.colak

Laini wrote: »

Thankx Mcolak
I will dig them out

Laini xx
just got made redundant today so head is a bit messed up so it will be tomorrow when I can do it.:eek:

I'm sorry to hear that Laini its bad when that happens. Sending some MSE Hugs your way

m.colak

EileenWonder wrote: »

I was sold a Suite by Reid furniture in Glasgow in September 03.
The salesman that sold me the suite told me I could have 3 years interest free credit. I signed up for a $2500 suite. i worked out the payments in my head at around the $50 mark.
He came back with the forms all filled in and said ok its $76 per month.
I queried this and had added on a warranty and PPI insurance. I said I dont want that insurance he argued and argued with me and then told me that I had been accepted by the credit company and that if he had to go back I would probably not qualify for the credit. By this point we had been in the store for over 2 hours and we felt pressured into just accepting it.
After seeing martins program in October about the misselling of PPI insurance I sent the template letter off to Reid.
They came back and said no way go away. This went backwards and forwards until I received the last letter from them in March saying there is now way we are paying you back.
I decided to take them to the small claims court here in glasgow.
They did not defend the action so I was awarded a decree against them on the 25th April. I then had to go and employ a Sheriff officer to get my money.
They were due to pay by today......Low and behold.....:mad::mad::mad:
I get a letter in the post from a solicitor saying the are recalling the decree....
They are saying that GE capital should have defended the case and they had told GE capital about it and they did nothing so I was wrong to take tham to court I should have taken GE capital to court...................As they were the finance company.
I now have to appear in court on the 27th June...Im sick with worry

Can they now win this
GE capital didnt sell me me the PPI Reid's Salesaman did!!!!

Anyone give me some advice on this as I am gonna be up against a solicitor.

Help

Eileen

Its quite simple according to them they could have defended the case and won. So it makes you think why didn't they. Thats what the judge will be looking at so don't worry to much.

fanofmartin_2

Laini wrote: »

Thankx Mcolak
I will dig them out

Laini xx
just got made redundant today so head is a bit messed up so it will be tomorrow when I can do it.:eek:

Sorry to hear that Laini, I hope the PPI payment is a very big one.