PPI Reclaiming discussion Part II

YEOSAL

tiggrae wrote: »

Hi there - you do know Lombard is part of the Royal Bank of Scotland - you could have taken your claim to the FOS - it might be easier to go to the fOS and in the meantime apply for a stay on your court claim - if you get it wrong in court you could end up being liable for costs as your claim being over £5k will probably be allocated out of the small claims and into the Fast Track court route.

Thanks Tiggrae

The loan was from 1998 to 2003 so as started before 2000 I did not think I could use FOS? I think I can change the claim and have got some forms so was going to reduce the amount to below 5k.

FOS would have been better -was feeling very brave when I started it!

tunafish_3

m.colak wrote: »

do you know how much the PPI added was? Or even the interest rate of the loan?

No, I am unable to find the relevant information. I have asked for copies but they seem reluctant to send them to me.

tiggrae

YEOSAL wrote: »

Thanks Tiggrae

The loan was from 1998 to 2003 so as started before 2000 I did not think I could use FOS? I think I can change the claim and have got some forms so was going to reduce the amount to below 5k.

FOS would have been better -was feeling very brave when I started it!

ahhh right, no the probably won't be able to look at it shame - is the amount your reclaiming below £5k without the 8% interest ?

tiggrae

MattClem wrote: »

Thanks Tiggrae

"have a look at this document it's what the FSA have to say on the fairness of refunds when you make an early redemption - copy this document to paragon - they are covered by the FSA and were when you took out your loan - tell them unless they provide you with a fair rebate figure you will take you complaint to the Financial Ombudsman Service"

Time is unfortunately the enemy here,as I have to remortgage by the end of July and the bank doesn't want any outstanding charges on the property. So if I have to accept the low offer can I claim the remainder or am I better off paying back everything and trying to reclaim? I can't imagine a month is a long enough period to get a fair settlement, or am I wrong?

no you're probably right, but for the cost of a stamp it's always worth a try

YEOSAL

tiggrae wrote: »

ahhh right, no the probably won't be able to look at it shame - is the amount your reclaiming below £5k without the 8% interest ?

The ppi was 4132.09 before interest at 13.9%
Claim is 5755.95 before 8% (which they tell me I have calculated wrongly anyway). With fees, total claim is a huge 9311.00.
I have just spoken to court, but they are not helpful, but Ionline I found some info and I can use an amendment document to change the claim and will put through just the ppi so well under 5K.

Its doing my head in! LLoyds TSB hearing - 15 days to go.

chipbeck

chipbeck wrote: »

Just drafted this lengthy letter to GE Money. Proof reading/advice would be appreciated.

Firstly may I thank you for your swift response in providing both the SAR and CCA documents I requested in April.
Unfortunately these documents have, as I suspected, brought to light a glaring error on the account.
In April I asked for a copy of the CCA for the account and subsequently sent in a SAR for the account. I received two copies of the CCA one as a result of the original request and one forming part of the documentation returned as a result of the SAR request.
The documentation states that Premium Protection at 1.5% is applicable to the account, this is not, and should never have been the case. The CCA from 1996 clearly shows that the box for ‘I do not need Payment Protection’ has been ticked.
I appreciate that GE Money procured the account at a later date and therefore does have some mitigating circumstances in the fact that the error had already taken place.
The question know is, where do we go from here?
In simple terms I have been charged a large amount of money over a period of over 13 years for a service I clearly indicated I didn’t require. Had the account still been with the original group I’m sure a resolution would have been fairly simple as all records would have been available in order to reach an agreeable settlement. Unfortunately this isn’t the case and you have already informed me of your inability to provide copies of all statements since GE money took over the account, let alone the pre GE statements.
I have little knowledge of the legalities here, but in simple terms if a person indicates they don’t require a service then they should not be billed for it. I appreciate that I could get this matter resolved by the FOS, but to be honest I see little point in getting them involved in what is as I see it, a clear cut case. The result would no doubt be a drawn out case and possibly a fine being levied by the FOS, neither of which would benefit myself in any way.
In summary, I am quite prepared to accept this situation has arisen as some form of clerical error and, should an agreeable settlement be agreed, am prepared to accept and bring the matter to a close. I do have concerns as to how a final figure will be reached without the statements required being available, but I will just have to leave that with you.
Finally to reiterate, with the large amount of money that is obviously involved here I would appreciate that the matter can be dealt with both swiftly and amicably.

Sorry me again.
How long should I give them before I get on to the FOS.

marshallka

YEOSAL wrote: »

The ppi was 4132.09 before interest at 13.9%
Claim is 5755.95 before 8% (which they tell me I have calculated wrongly anyway). With fees, total claim is a huge 9311.00.
I have just spoken to court, but they are not helpful, but Ionline I found some info and I can use an amendment document to change the claim and will put through just the ppi so well under 5K.

Its doing my head in! LLoyds TSB hearing - 15 days to go.

hiya yeosal, our ppi was £4163 taken out jan 2000 and repaid april 2003 with a rebate of £91:mad:
We are maybe going to have to go the courts route like you. our apr was 13.9% so how do you get to that figure.

tiggrae

YEOSAL wrote: »

The ppi was 4132.09 before interest at 13.9%
Claim is 5755.95 before 8% (which they tell me I have calculated wrongly anyway). With fees, total claim is a huge 9311.00.
I have just spoken to court, but they are not helpful, but Ionline I found some info and I can use an amendment document to change the claim and will put through just the ppi so well under 5K.

Its doing my head in! LLoyds TSB hearing - 15 days to go.

Hi - the small claims court allocation doesn't take account of any interest on the principle amount - if you're heading for a hearing then the claim must already be within the small claims court so I wouldn't change it if I were you.

marshallka

chipbeck wrote: »

Sorry me again.
How long should I give them before I get on to the FOS.

i would say 14 days here. How do they get away with it without it becoming a criminal offence of theft, deception and fraud.

tiggrae

chipbeck wrote: »

Sorry me again.
How long should I give them before I get on to the FOS.

unfortunately in your case you won't be able to take your claim to the FOS as the 'selling' took place before they came under the jurisdiction of the FOS on 15.1.05 - you're only redress will be through the county courts - you have to give them 8 weeks in which to provide you with a final response