PPI Reclaiming discussion Part II

sparky0107

Morning everyone,
Just received loan paperwork from GE Money Home Lending, they have not included our signed customer credit agreement, just a breakdown of payments & some screen grabs from what looks like an access database. If you don't mind could you take a look and see what you think, sorry if this post drags on. Here goes:-

Loan amount £5000 (300 months)
PPI amount £1320 (60 months cover max payment £73.09)
Brokers Fee £500
Total £6820

Account opened 01/07/03
Account Closed 02/03/05
Payments made 19

Payment breakdown (1st payment 01/08/03)

1 X £73.09
5 X £71.83
3 X £73.09
4 X £74.34
1 X £75.60
2 X £76.16
4 X £78.12

Sub Total £1489.27
Refund £78.12
Total £1411.15

Settlement 03/02/05 £7588.60

On the last sheet under repayments the following figures have been added

Repayment admin charge £177.12
Repayment of fees & additional? £659.60

PPI only covered 60 months repayment, plus a maximum amount of £73.09, so it would not have covered some of the repayments. Hope you can help me with this.

Thanks in advance

YEOSAL

Have just received a letter from LLoyds Solicitors.

"We refer to the above matter and your request for information in your letter dated 20 May 2008.

You have made that request pursuant to part 18 of the civil procedure rules. This is a small claims matter however and part 18 does not apply. We therefore respond to your questions below. A copy of this letter will be included in our bundle, a copy of which will be filed with the court and forwarded to you, before the trial on 26 June.

"At the time you were sold payment protection insurance in November 2000, general insurance sales were not regulated under the financial services act. All general insurance sales made in 2000 were under the ABI selling code which was a voluntary code.

The seller of the payment protection insurance, LLoyds TSB Insurance Services Limited was not a member of the insurance ombudsman in 2000.

The questions that you have raised in your letter of 20 May 2008 are only relevant to sales made after 14 January 2005 which is the date on which general insurance sales became regulated under the financial services and markets act."

Should I enter into correspondence with them as the directions were to submit documents no less that 14 days before hearing and that was two days ago. I did not know if I could apply to ask the court not to consider their documents as they were not filed in time.

Also, in my opinion, that letter implies that they had no rules and no procedures in place to stop the mis-selling of ppi.

Any recommendations would be great!

sparky0107

Just checked my experian report & the two late payments placed on there by Halifax BoS have been removed & the account is now showing as settled.

sahra

marshallka wrote: »

Ring and ask for a copy of the agreement to be sent to you. It sounds like it was missold. Have you ever requested a settlement figure.

Received my original agreement this morning dated Sept 2002.
This is what it says:
"The loan is in two parts with the premium loan being the single premium payment to purchase Barclayloan protection."

APR 14.9%
cash loan Premium loan
Amount of loan £7,000 £1,553.33
Total charge for credit £2,793.80 £620.47
Total amount payable £9,793.80 £2,173.80
Monthly repayment £163.23 + £36.23 = £199.46
Number of payments 60 60

The first column of amounts is for the cash loan and the second for the premium loan. I did type them underneath, but didn't submit like that!

OH went into the bank about a year later to try and cancel, but they said no and also phoned a few months after taking the loan out, but again said no.

The application was done online and the loan is now finished, does anyone know if I have a chance and for what reason?

Also does it make a difference that it says premium loan and not PPI?

Thanks

alleybabes

Ihave a court hearing on 31st july to see whether they can have the judgement put aside i will let you all know how i get on:eek:

marshallka

alleybabes wrote: »

Ihave a court hearing on 31st july to see whether they can have the judgement put aside i will let you all know how i get on:eek:

Where is m colak when you need him. He should be back before then hopefully. Good luck, its scary isn't it:eek:

marshallka

sahra wrote: »

Received my original agreement this morning dated Sept 2002.
This is what it says:
"The loan is in two parts with the premium loan being the single premium payment to purchase Barclayloan protection."

APR 14.9%
cash loan Premium loan
Amount of loan £7,000 £1,553.33
Total charge for credit £2,793.80 £620.47
Total amount payable £9,793.80 £2,173.80
Monthly repayment £163.23 + £36.23 = £199.46
Number of payments 60 60

The first column of amounts is for the cash loan and the second for the premium loan. I did type them underneath, but didn't submit like that!

OH went into the bank about a year later to try and cancel, but they said no and also phoned a few months after taking the loan out, but again said no.

The application was done online and the loan is now finished, does anyone know if I have a chance and for what reason?

Also does it make a difference that it says premium loan and not PPI?

Thanks

Did you want the barclayloan protection? If not and it was a must of the loan then you should claim. What was the date you settled? You should be able to just write and then you will have to wait for their final response and then go to the FOS if you don't get anywhere. You may need to spend £10 on a SAR to get all the details they hold about you.

bernice_2

hi.i had a loan with first plus with a single payment ppi, then after a yr i got another , payed off the original loan (including the ppi) and set up another with the same t&c.(another single ppi) i have written to claime misssold single ppi. thay have agreed to the first one and asked us to sign an acceptance to cancel and payment(? how much) but refuse to agree to the second. they said that the tapes show that me and the OH agree to the terms.i have written back asking them to look into it again.
im not sure what to do from here? whether the accptance means the cancel of both ppi or just the first. i had a letter to say they have recieved my letter and will respond after the recheck. can anyone advse im a bit lost.

bernice_2

i feel that they have taken 2x ppi and stitched me up twice!!!! anyway how can they say 1 was missold but the other was not? i dont understand

marluc

YEOSAL wrote: »

That is a great result! As soon as they put in their first offer, it seemed clear they were going to settle.

:T :T :T :T :T :T :T :T :T :T :T

Really pleased for you. I paid the £300 hearing fee today :shocked:. Yesterday was the cut off for the documents and I have not received a thing. Think they are probably going to rely on my documents and the Limitation Act. I can only keep my fingers crossed now they settle.
Bet you have a good weekend now its sorted! :beer:

Thanks Yeosal
I can now actually sleep and not worry. The solicitor will probably contact you soon.
But you could always email the solicitors. If you need it, let me know. Good to keep them on their toes. This company has made millions from innocent people.:mad: Take care and keep in touch