PPI Reclaiming discussion Part II

marshallka

sparky0107 wrote: »

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

Write back and request a copy of the agreement that you are entitled to. Was this a SAR that you requested? Ifthey don't send you one then get in touch with the Information Commissioners Office and make a complaint with them. Tell GE that if you don't receive it then will be making a complaint.

marshallka

:beer:

Laini wrote: »

still no news from FIRST PLUS on redress figure after winning through FOS -mis sold PPI
Letter from FOS to say that Nemo still havent sent a reply to FOS to defend their claim of missold and unfair rebate

so will be sending a few emails on monday to FP and Nemo so hopefully will get some progress on them.
(I am hoping for a good news by the end of - it is my birthday on friday)

Laini xx:j

What happens if they don't defend it Laini, can the FOS just go in your favour? Keep on at Worstplus too. I spoke to them Friday and they just listen and then say "we did not sell the policy". I have found out that Freedom Finance was not freedom finance when i took the policy out, they were Wilmslow Financial Services Limited and changed to Freedom Finance limited on 23/02/01. They changed to Freedom after my policy and at that time they were nothing to do with this Bespoke. Still does not help because no-one will give me any proof of the sale. I want everyone to win against both these companies. I hope they get hammered by a large fine too.


Happy Birthday for Friday too:beer:

Laini

marshallka wrote: »

What happens if they don't defend it Laini, can the FOS just go in your favour? Keep on at Worstplus too. I spoke to them Friday and they just listen and then say "we did not sell the policy". I want everyone to win against this company. I hope they get hammered by a large fine too.

first plus have agreed to refund us so just waiting for the money.
with Nemo I am not sure cos I think they are putting up a fight cos I have received papers (SAR) and they seem to be dragging their heels.
the adjudicator sends his decision if they disagree it goes to an ombudsman but after that not sure.
but I wont give up I have a few things to say to Nemo next week so watch this space.
hope you are ok -you keep turning more stones over.
you ll get there in the end I am sure
tc
Laini xx:j

marshallka

Laini wrote: »

first plus have agreed to refund us so just waiting for the money.
with Nemo I am not sure cos I think they are putting up a fight cos I have received papers (SAR) and they seem to be dragging their heels.
the adjudicator sends his decision if they disagree it goes to an ombudsman but after that not sure.
but I wont give up I have a few things to say to Nemo next week so watch this space.
hope you are ok -you keep turning more stones over.
you ll get there in the end I am sure
tc
Laini xx:j

The only proof i have of who i took the loan out with is a fax that was sent (firstplus sent it with the SAR) from Low Cost Loans.co.uk and then in the computer print out of calls it states

"mrs adv re sf and how calc and poss to rise mrs doesn't believe adv had any literature from fs wilmslow to adv not higher than amount borrowed adv refer to freedom adv designed for long term, mrs not happy adv will refr to sols adv re calc of sfs rule 78 cca. " (a bit gobbledy goo but you get the gist)

This was on the 26/03/03. Do you think that this will go in my favour. I did not receive any literature from whoever i took the loan out with. I actually stated it there. This was after freedom took over but it was Wilmslow Financial Services when i took the loan. How is that all the literature off their computer either has Freedom Finance Limited and Freedom Finance PLC on when in actual fact they had not changed then. When i googled this Wilmslow Financial services i found this on a house of commons debate

"There was no mention of the excessive commission that brokers are normally paid for securing that type of loan. I do not know how much commission Mr. Jones secured, but I have been made aware of a similar loan, worth £23,000. The commission on that was a very high £4,300. Unfortunately, Mr. Spencer became ill shortly after the loan was granted, and was unable to work. The protected payment premium scheme should have protected the Spencers during his period of illness. Mr. Spencer duly wrote to Wilmslow Financial Services in May 1993 but received no response. While loans were usually made for 15 years, the premiums covered only the first five years. Hence, clients paid for a loan to cover the premium for three times as long as the premium was operative. "

full story here http://www.publications.parliament.uk/pa/cm200001/cmhansrd/vo010425/halltext/10425h05.htm
This sounds so familiar


Laini, did you continue to send things into the FOS after your complaint. I keep finding things wrong and i want them to advise me. I don't think they are looking into the PPI but i will check on monday but they do deal with banking issues and i wanted to ask if the commission that the broker received (although i can't see this was paid by me) should of been disclosed. I understand they need to disclose it as it can make someone taking the loan out think that maybe they have other interests in you having the loan other than the borrowers best interests.

Laini

marshallka wrote: »

The only proof i have of who i took the loan out with is a fax that was sent (firstplus sent it with the SAR) from Low Cost Loans.co.uk and then in the computer print out of calls it states

"mrs adv re sf and how calc and poss to rise mrs doesn't believe adv had any literature from fs wilmslow to adv not higher than amount borrowed adv refer to freedom adv designed for long term, mrs not happy adv will refr to sols adv re calc of sfs rule 78 cca.

This was on the 26/03/03. Do you think that this will go in my favour. I did not receive any literature from whoever i took the loan out with. I actually stated it there. This was after freedom took over but it was Wilmslow Financial Services when i took the loan. How is that all the literature off their computer either has Freedom Finance Limited and Freedom Finance PLC on when in actual fact they had not changed then.

I think
-who s money is it you borrowed?FP
- who do you pay back every month? and would settle the loan with?FP
- who would you put a ppi claim into and who pays it out?FP
cos the money has come from some ones pot of gold=FP
I think they are sending you on a wild goose chase cos if they were owned by someone else they have taken on your debt when they bought the company so should be responsible for your complaint as you are their customer now.

Laini xx:j

marshallka

Laini wrote: »

I think
-who s money is it you borrowed?FP
- who do you pay back every month? and would settle the loan with?FP
- who would you put a ppi claim into and who pays it out?FP
cos the money has come from some ones pot of gold=FP
I think they are sending you on a wild goose chase cos if they were owned by someone else they have taken on your debt when they bought the company so should be responsible for your complaint as you are their customer now.

Laini xx:j

Thats where Bespoke Finance come into it though. They are letting some people claim through Freedom and then some like myself are being directed to this untouchable company in Gibraltar. I have added more to my post above about this Wilslow Financial Services. A house of commons debate back in 2001. It sounds very familiar.:mad:

Laini

marshallka wrote: »

The only proof i have of who i took the loan out with is a fax that was sent (firstplus sent it with the SAR) from Low Cost Loans.co.uk and then in the computer print out of calls it states

"mrs adv re sf and how calc and poss to rise mrs doesn't believe adv had any literature from fs wilmslow to adv not higher than amount borrowed adv refer to freedom adv designed for long term, mrs not happy adv will refr to sols adv re calc of sfs rule 78 cca. " (a bit gobbledy goo but you get the gist)

This was on the 26/03/03. Do you think that this will go in my favour. I did not receive any literature from whoever i took the loan out with. I actually stated it there. This was after freedom took over but it was Wilmslow Financial Services when i took the loan. How is that all the literature off their computer either has Freedom Finance Limited and Freedom Finance PLC on when in actual fact they had not changed then. When i googled this Wilmslow Financial services i found this on a house of commons debate

"There was no mention of the excessive commission that brokers are normally paid for securing that type of loan. I do not know how much commission Mr. Jones secured, but I have been made aware of a similar loan, worth £23,000. The commission on that was a very high £4,300. Unfortunately, Mr. Spencer became ill shortly after the loan was granted, and was unable to work. The protected payment premium scheme should have protected the Spencers during his period of illness. Mr. Spencer duly wrote to Wilmslow Financial Services in May 1993 but received no response. While loans were usually made for 15 years, the premiums covered only the first five years. Hence, clients paid for a loan to cover the premium for three times as long as the premium was operative. "

full story here http://www.publications.parliament.uk/pa/cm200001/cmhansrd/vo010425/halltext/10425h05.htm
This sounds so familiar


Laini, did you continue to send things into the FOS after your complaint. I keep finding things wrong and i want them to advise me. I don't think they are looking into the PPI but i will check on monday but they do deal with banking issues and i wanted to ask if the commission that the broker received (although i can't see this was paid by me) should of been disclosed. I understand they need to disclose it as it can make someone taking the loan out think that maybe they have other interests in you having the loan other than the borrowers best interests.

keep sending anything and everything you can find - I did
I sent things in and copied in FP on my emails.
I thought they (FP) had to prove they hadnt mis sold you not you to prove you had been mis sold.
surely if they dont have the paperwork its tough on their part not yours.
Laini xx:j

marshallka

Laini wrote: »

keep sending anything and everything you can find - I did
I sent things in and copied in FP on my emails.
I thought they (FP) had to prove they hadnt mis sold you not you to prove you had been mis sold.
surely if they dont have the paperwork its tough on their part not yours.
Laini xx:j

Thanks for that Laini, been feeling like i am getting no where.

Who did you email at firstplus. Was it just the general email address or could you let me have the complaints one. I want them to remember me now if they couldn't then.

Laini

marshallka wrote: »

Thanks for that Laini, been feeling like i am getting no where.

Who did you email at firstplus. Was it just the general email address or could you let me have the complaints one. I want them to remember me now if they couldn't then.

I would ask who have I actually been paying back money to?
when I put in bespoke finance it brought up freedom finance so clicked on, on the bottom section on the website front page it says bespoke introduce the loan enquiry and freedom process and manage the loan enquiry

maxdp

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

Hi Shara

My OH had taken out 3 Loans with Barclayloan.
First in 2002 which was re-financed 2004, then re-financed later in 2004 and settled in Jan this year.

After much banging my head against a brick wall with Barclays took them to the Financial Ombudsman. They upheld my complaint on all three Loans one of the points being that they were front loaded the other saying that in the Terms and Conditions it did not state that PPI was optional.

All these Loans were organised over the phone. Awaiting final figures from Barclays but am expecting nearly £8000.00:T :T :T :T

Hope that helps:rotfl: