PPI Reclaiming discussion Part II

Laini

marshallka wrote: »

I swear if this is "sorry, we sold it to you fair and square" then i shall be really annoyed and will definately take this to the courts. I don't think it is though because he knows that that reply WOULD be unacceptable to me. I now cannot wait until next week. I will be down to 7 stone, i swear, i was just in the middle of my dinner when i got that email and i had to leave it. This whole thing has made me ill but hopefully it is coming to an end now.

thanks di for the support

Di is usually right
when she feels it in hers bones.
I think you have got them by the short and curlies and they know it.
I cant wait for next friday too!!
hope its what you are expecting

Laini xxx

marshallka

Laini wrote: »

Di is usually right
when she feels it in hers bones.
I think you have got them by the short and curlies and they know it.
I cant wait for next friday too!!
hope its what you are expecting

Laini xxx

Thanks Laini,

Just worked out using rule 78 calculator if i had my loan of 17k over 120 months and no ppi and repaid 38 months at £280 per month then my final balance wouldof been about £15k to pay

I repaid £280 per month over 38 months on a loan of £21163 (which included the ppi) and then settled with £20400.

I look at they owe me including 8% interest about £7,500. Any help much appreciated. I wonder what the offer will be. ???????

That is using this stupid rule 78 and if they did not use that then it is lots more because NOW they can only charge two months interest so the settlement would of been MUCH less. I won't accept anything stupid as i argue this rule 78 in the first place. I also argue that if i had known about this rule then i would of not taken this loan out in the first place. I actually state in a telephone conversation to Firstplus that we were told by whoever sold the loan that we would never owe more than we borrowed at any time. I also state that we were not made aware of this rule by the seller of the loan.

Also the broker received £850 for this selling of the loan (again not made aware of this) and that is excessive by todays standards. I feel that that was his "interest" in selling this to us in the first place and not for our interest.

Laini

marshallka wrote: »

Thanks Laini,

Just worked out using rule 78 calculator if i had my loan of 17k over 120 months and no ppi and repaid 38 months at £280 per month then my final balance wouldof been about £15k to pay

I repaid £280 per month over 38 months on a loan of £21163 (which included the ppi) and then settled with £20400.

I look at they owe me including 8% interest about £7,500. Any help much appreciated. I wonder what the offer will be. ???????

this is what I did blonde sum
calculate all the 38 payments approx 20percent of the monthly payment 2128 + approx 4163 PPI = 6291 - Rebate already given in your case 0 then times it by 8percent = 6794.28you may need to add more interest cos it was 3years as mine was only 1 year
so about 7500k
it worked for me with FP figure as a ball park
M.Colak is your man he is spot on with figures

Laini x

marshallka

Laini wrote: »

this is what I did blonde sum
calculate all the 38 payments approx 20percent of the monthly payment 2128 + approx 4163 PPI = 6291 - Rebate already given in your case 0 then times it by 8percent = 6794.28you may need to add more interest cos it was 3years as mine was only 1 year
so about 7500k
it worked for me with FP figure as a ball park
M.Colak is your man he is spot on with figures

Laini x

Laini, are you thinking what m colak says. I'm brunette and still having trouble. (and worked as accounts clerk for 14 years too)

marshallka

Laini wrote: »

this is what I did blonde sum
calculate all the 38 payments approx 20percent of the monthly payment 2128 + approx 4163 PPI = 6291 - Rebate already given in your case 0 then times it by 8percent = 6794.28you may need to add more interest cos it was 3years as mine was only 1 year
so about 7500k
it worked for me with FP figure as a ball park
M.Colak is your man he is spot on with figures

Laini x

Also where you say three years, is that from when i settled (i settled in april 2003) or for the whole length of the loan until i settled.



I orginally asked for the loan to be over 10 years and not 160 months and no PPI so i have asked to be put back into that position as full and final settlement otherwise i then take them to court for the whole misrepresentation of the loan as well. I hope and pray they pay up a decent amount as this could mean us living in our home instead of existing daily.

Also Laini is that amount of £6298 for just the ppi.( i need to add 8% statutory interest for 3 years too totalling £7k plus which is what m colak says) but I have asked for the difference in the settlement taken at month 38 of a 10 year loan and not a 160 month loan so maybe quite a bit more then. If i settled at month 38 using rule 78 calculator on a 160 month loan then my settlement would be £17980 but over 120 months it would be £15269. There is a difference of £2711 so is this then added and then 8 % interest as well. I am so confused. I only want what is fair. Nothing more, nothing LESS

Elsie2_2

marluc wrote: »

Elsie2 wrote: »

Hi Elsie2
My court hearing was for the 1st of July. I had to send to the court and solicitors of Freedom Finance all the documentation I was going to use in Court, by June 9th. What was your date for submission?
Have the solicitors sent you their information? What documentation have you submitted to the court and solicitors?

Hi all. Just wanted to let you all know that following my court hearing on Tuesday, i waited from 9.30 until 12.30 before seeing the judge and despite him being lovely he wouldn't hear the details of the case as he believed the statue of limitations applied. I was allowed to put across my argument about why i disagreed and i tried to explain the act i understood it but he advised very nicely that as far as he was concerned, it was outside the 6 years even though i exlpained that between the last payment made in September 2002 and the date of my first letter to the bank being in November 2007, i believed this was within the 6 years. He advised however that as far as he was concerned, although i had made a payment in September 02, the debt itself hadn't been acknowledged by the bank and that he was also using the start of the court process rather than when i had initiated the complaint with the bank as the final date (loan taken June 01-court process started March 08). So, long story short, the bank won. The judge did say however, that he was grateful he didn’t have to adjudicate the case as he could completely understand the bitter taste that was in my mouth and although it wouldn’t directly help me, the current OFT ruling will help people in the future. Ah well, live and learn.

marshallka

Elsie2 wrote: »

marluc wrote: »

Hi all. Just wanted to let you all know that following my court hearing on Tuesday, i waited from 9.30 until 12.30 before seeing the judge and despite him being lovely he wouldn't hear the details of the case as he believed the statue of limitations applied. I was allowed to put across my argument about why i disagreed and i tried to explain the act i understood it but he advised very nicely that as far as he was concerned, it was outside the 6 years even though i exlpained that between the last payment made in September 2002 and the date of my first letter to the bank being in November 2007, i believed this was within the 6 years. He advised however that as far as he was concerned, although i had made a payment in September 02, the debt itself hadn't been acknowledged by the bank and that he was also using the start of the court process rather than when i had initiated the complaint with the bank as the final date (loan taken June 01-court process started March 08). So, long story short, the bank won. The judge did say however, that he was grateful he didn’t have to adjudicate the case as he could completely understand the bitter taste that was in my mouth and although it wouldn’t directly help me, the current OFT ruling will help people in the future. Ah well, live and learn.

So sad to hear that. The same as Yeosal then. Had you spent money on the case???

ninjastriker

di3004 wrote: »

Hi there Ninjastriker,

I'm sure they should have sent you the Terms & Conditions of this despite how this was sold, besides if you wanted to cancel you would need to know how, and have the chance to view these on paper in order for you to know the conditions of this product.
In my opinion you were not given the chance to cancel anyway, because there is a cooling period and a time limit to cancel the actual PPI product.

My hubby is in the same position here, but sold the credit card in the bank, he did not sign anything PPI was not even mentioned, he received his statement which was late coming through the post and the policy details were not posted until 2 months after.
Right now he is still waiting for a reply from LLoyds, he asked them to reconsider the complaint by giving them 14 days to do so, meanings the first response he received they deny this was mis sold but open for further investigation if there is anything else he can add to support this, for them to reconsider this.

Your letter was basically a standard fob off, which both me and hubby received.
Mine is now with the FOS, as we have exhausted all options here now.

Oh hubby was not sent an agreement either.

I would write to them again and add further information, even if they state they given you advice, you state you have not received no T&C's on this product do you did not know your rights if you wanted to cancel.
They should have sent you both the policy booklet/information and t&c's.

Good luck.
Di.;)

Well i just checked the AXA insurance website and the number i was given didn't match any of the numbers they had. So it looks like they just fob me off, i only spoke to themon phone i never sent a letter to them.

I'm going to make a phone call in the next few days to speak to the manager direct, so i should get some decent results. I will let you guys what he says.

I keep all my documents, the only term & conditions i got was from captial one for the credit card and that was in december. i never got anything about the PPI.

They also spoke everything really fast, so i could not understand what they said.

marshallka

marshallka wrote: »

I am so excited i have just received a response from Bespoke in Gibraltar and it reads as follows

Good afternoon Mrs. M, I have today sent you a letter by post with regard to your complaint and what I hope is an acceptable resolution. The post can be slow from Gibraltar, so I would imagine you will receive it towards the end of next week. Please note I am now on holiday and return to the office on Monday the 14th of July. I will be in contact with you on my return to the office.

Thats sounds like a result does it not or is it me being too over excited.

:j :j :j :j

Just been reading my letters to this Bespoke again and noticed that i made a comment where they said they had looked into my complaint and replied to it before even tracking down the records.

I now think that maybe when he says about "acceptable resolution" he means that they have looked into this and still find nothing wrong that they have done and therefore he gives his final response. I note that he used acceptable and not favourable.



Oh this is so blummin frustrating its doing my head in. Why could he not send the response by email as well as post it. I feel that whereby he tells me he will out on holiday for 10 days its giving me time to cool down before i get back in touch. I started to celebrate too soon i thinks....Then again if this is a final response why would he say he will be in touch when he returns again.

Just a note it had better be "ACCEPTABLE" and the only thing that is acceptable is what is right, proper and FAIR

Laini

marshallka wrote: »

Also where you say three years, is that from when i settled (i settled in april 2003) or for the whole length of the loan until i settled.



I orginally asked for the loan to be over 10 years and not 160 months and no PPI so i have asked to be put back into that position as full and final settlement otherwise i then take them to court for the whole misrepresentation of the loan as well. I hope and pray they pay up a decent amount as this could mean us living in our home instead of existing daily.

Also Laini is that amount of £6298 for just the ppi.( i need to add 8% statutory interest for 3 years too totalling £7k plus which is what m colak says) but I have asked for the difference in the settlement taken at month 38 of a 10 year loan and not a 160 month loan so maybe quite a bit more then. If i settled at month 38 using rule 78 calculator on a 160 month loan then my settlement would be £17980 but over 120 months it would be £15269. There is a difference of £2711 so is this then added and then 8 % interest as well. I am so confused. I only want what is fair. Nothing more, nothing LESS

This gets better.

just thought
the calculation might be to put you in the position if you had not had ppi so it could be interest from the start of the loan( 8years interest.):cool:
ask Tiggrae she might give more accurate time scale of when the8percent starts and stops
Laini xx:j