PPI Reclaiming discussion Part II

m.colak

**AquariausAngel** wrote: »

Hello

I have finally got copies of my Barclaycard statements through and have just finished going through my PPI charges which total £242.09 - do I add the 8% statutory interest on top of the total amount or each PPI payment? Sorry if I sound a bit thick here - I've nevber been good at maths!! :rotfl:

Thanks!

Hi everyone,

You do the 8% statutory interest calculation on each individual payment you made. I recommend you use Martin's calculator on the reclaim bank charges information site outside of the forum.

m.colak

sparky0107 wrote: »

Morning everyone,
Finally got my brother on board with reclaiming, hes received his SAR back from igroup, on the paperwork there is a "brokers" fee of £1500 & also a "lenders application assessment & competion cost" of £500. Does anyone know what this means?

Thanks in advance

Hi Sparky,

the brokers fee means that they are liable and responsible for the mis-sold ppi policy and it means that when you reclaim you send all letters to them. The application assessment is purely a loan setup fee and you should NOT have paid this as additional as they had already received a brokerage fee and as such weren't involved in the actual processing of the loan.

m.colak

leedspete wrote: »

i have sent my S.A.R - (Subject Access Request) off got the reponse i needed in record time but i do not understand statements.it says something about capitalization which i don't understand.also i faxed a letter saying i wanted to cancel my ppi but they haven't done.what do i do next

Hi leedspete,

i would send a further letter (registered of course) requesting clarification on the term capitalization as well as referencing your fax (giving the date of transmission) and restating the request to cancel the ppi.

dazzer26

have been reclaiming on a 25k ppi from firstplus which has been running for 30 months out of the 60 they have today offered a pro-rate rebate of just over 10k but want to put it back into the loan account can i insist on getting the rebate by means of a cheque many thanks for any help.

m.colak

bridle wrote: »

The brief particulars of claim says

That the defendants representative forced me to take out the ppi saying that if i do not have the insurance they will not give me the loan and they also sold me ppi insurance that was not suitable for me as i have a pre-existing medical condition which the defendants representative was fully aware of at the time of my application. and that i was told verbally by the defendants representative that they no longer do loans without ppi.

Welcome's defence just basically says well the form says insurance is optional and therfore the choice was mine and therfore they are not liable. also they state that i must provide proof that there representative said what she said.

No hearing date set yet but should get that from the court very soon as the allocation questionaire went in last week.

When you raised the case did you state about the mis representation act 1967 in relation to the mis sold policy. If you did this would make it welcome finance's responsibility to prove that they didn't mis sell and not your responsiblility to prove that they did.

m.colak

dazzer26 wrote: »

have been reclaiming on a 25k ppi from firstplus which has been running for 30 months out of the 60 they have today offered a pro-rate rebate of just over 10k but want to put it back into the loan account can i insist on getting the rebate by means of a cheque many thanks for any help.

If they are offering a rebate/refund then yes it is up to you how you choose to receive it and not up to them at all. I would speak to their representative and state that you wish for it in this method as is your right under the consumer credit act and guides lines stated by both FOS and FSA.

Laini

m.colak wrote: »

Hi everyone,

You do the 8% statutory interest calculation on each individual payment you made. I recommend you use Martin's calculator on the reclaim bank charges information site outside of the forum.

welcome back!!
hope you had a good time
lots to catch up on
you will inundated I am sure.
bet your pm box is full

Laini xx:j

m.colak

Laini wrote: »

welcome back!!
hope you had a good time
lots to catch up on
you will inundated I am sure.
bet your pm box is full

Laini xx:j

No the pm box was empty bar one asking for the spreadsheet. Yes had a nice holiday thank you but have a busy couple of months ahead with work so will try and get on when possible. Don't know about the lots to catch up with though? Any chance of an update:D

**AquariausAngel**

m.colak wrote: »

Hi everyone,

You do the 8% statutory interest calculation on each individual payment you made. I recommend you use Martin's calculator on the reclaim bank charges information site outside of the forum.

Hi mcolak

Thanks for your quick reply! :T

Is that the same calculator as on the reclaim credit card charges page?

m.colak

**AquariausAngel** wrote: »

Hi mcolak

Thanks for your quick reply! :T

Is that the same calculator as on the reclaim credit card charges page?

It should be yes.