PPI Reclaiming discussion Part II

miaoww

Further to previous post - how can I work out a without prejudice cost? to write back to them with based opn firgure in prev post? because ive had for comin up to two years I dont feel 1/2 is fair and due to financial problems at the mo we could do with it all back but i dont want to risk not getting anything?
help / advice please

Kaia_2

Hi...its me again....
My form N1 is almost ready to go now......
Can someone tell me.....
You know the s.69 interest statement that goes at the end of the particulars of claim, I'm not sure what to fill in there, my PPI premium was £2021.33 and I found out the total interest paid from the lender last week was £1819.77, then I put each payment throught Martins calculator which added on another £999.92 bringing my total claim up to £4841.02, so
....I'm not sure if this is right....would be really grateful for advice.....

is it a case of 0.00022 x £4841.02 to give the daily rate of interest....£1.06
Can someone confirm if thats right please ??? Is this how its done?
Just dont want to get anything wrong on the form

sorry........even more questions????

The claimant claims interest under section 69 of the County Courts Act 1984 at the rate of 8% a year, from xxxxx( IS THIS THE DAY THE LOAN WAS TAKEN OUT? ) to xxxxx (IS THIS THE DATE YOU issue the claim?) of £xxxx ( IS THIS THE AMOUNT I WOULD HAVE WORKED OUT ON MARTINS CALCULATOR?) and also interest at the same rate up to the date of judgment or earlier payment at a daily rate of £1.06 ( and is this the amount I have worked out above?

(Just a bit of moral support to anyone just starting to look into claiming..... if I can end up doing this....ANYONE can !
Thanks to all for their help so far x x x

m.colak

Kaia wrote: »

Hi...its me again....
My form N1 is almost ready to go now......
Can someone tell me.....
You know the s.69 interest statement that goes at the end of the particulars of claim, I'm not sure what to fill in there, my PPI premium was £2021.33 and I found out the total interest paid from the lender last week was £1819.77, then I put each payment throught Martins calculator which added on another £999.92 bringing my total claim up to £4841.02, so
....I'm not sure if this is right....would be really grateful for advice.....

is it a case of 0.00022 x £4841.02 to give the daily rate of interest....£1.06
Can someone confirm if thats right please ??? Is this how its done?
Just dont want to get anything wrong on the form

sorry........even more questions????

The claimant claims interest under section 69 of the County Courts Act 1984 at the rate of 8% a year, from xxxxx( IS THIS THE DAY THE LOAN WAS TAKEN OUT? ) to xxxxx (IS THIS THE DATE YOU issue the claim?) of £xxxx ( IS THIS THE AMOUNT I WOULD HAVE WORKED OUT ON MARTINS CALCULATOR?) and also interest at the same rate up to the date of judgment or earlier payment at a daily rate of £1.06 ( and is this the amount I have worked out above?

(Just a bit of moral support to anyone just starting to look into claiming..... if I can end up doing this....ANYONE can !
Thanks to all for their help so far x x x

Hi Kaia yes you have worked it out correctly so don't worry. Again don't worry about putting everything in the N1 form as its breviety and accuracy what is required not english. Just remember state what you are taking them to court for not what their actions have been in the past as this is mitigation evidence.:T

m.colak

miaoww wrote: »

Further to previous post - how can I work out a without prejudice cost? to write back to them with based opn firgure in prev post? because ive had for comin up to two years I dont feel 1/2 is fair and due to financial problems at the mo we could do with it all back but i dont want to risk not getting anything?
help / advice please

I have worked out without prejudiced means that look i've been caught with my pants down on this one and won't fight the case unless my back is against the wall and someone dropped the soap. I would say at this point take a good look at the offer on the table if it is acceptable to you (and thats the point) then accept and forget the matter. You could be seeing yourself off a couple of grand (or more in some case's) however its your financial situation and you have to deem whether it is worth more to you or not. I don't advocate greed however there is nothing stopping you sending a letter back stating that although the offer was resonable you don't believe it accuracately shows howmuch you have lost due to this policy then add another 20-30%. Remember its all about negotation trying to get the money you want back with minimal hassle.

reallylost

sampainter wrote: »

Hi there, sorry this is a long one.
Was looking for some help from an expert or 2.
I have been trying to claim mis-selling on a loan from Halifax that was taken out in Nov 2002

Original loan was £5000 @14.9% over 84 months
Interest on loan £3056.44
PPI £1622.53
PPI interest £991.55
Grand total £10670.52

I had a letter at the end of last year saying they agreed that I had been mis-sold and were working out suitable redress.
They then sent me 3 different new loan agreements for different amounts and all with different term lengths.
I refused them all as none of them addressed the money already paid over the last 2 years.( now 2 and a half)
I went to the FOS in December and have heard from them today by phone. They have had an offer from HBOS of the following.

HBOS will pay off they outstanding amount on the loan £5267.03????
They will send me a refund of
PPI payments £332.14 (is that all!! over 2 and a half years?)
Interest £508.20
8% interest £78.43
Grand total £918.77

Then I will have a new loan for £3976.00 over 5 years at 14.9%, which comes to £5662.81

I have already paid out £3556.84

This will mean a total of £9219.65 minus the £918.77 they will give me back.

My maths isn’t great but IF they had got the loan right in the first place I would have paid £8056.44 over the 7 years …..So I make it that I will be £244.44 worse off!!!!!

What do I do next????
Do my figures add up right?
Can’t I just ask for my full payments back and for them to start again with a loan for the correct amount over the original term?

Please help me as I have 14 days to come up with an answer.

Can anyone help please?????

m.colak

sampainter wrote: »

Can anyone help please?????

Hi Sampainter,

One thing to remember is the FOS is a arbatory service and therefore mediates in disputes and is able to settle in the claimants favour only if there is flagrant evidence of delibrate mis selling. It looks in this case that they have decided that yes you didn't want the PPI and have agreed with Halifax to come with a solution. Personnally i would say to them that you don't agree with the settlement plan and want original loan restructured to account for the interest paid on the PPI previously at 14.9% (This might mean that you don't get the cheque for £918, however it will mean that the loan still has it limited time to run and the payments will be a lot less).

sarahc5388

Tabitha72 wrote: »

Hi,
I'm new to the forum.
I have helped my son to make a claim to Lloyds TSB for PPI using the templates provided by this site ( thanks for those ).
He was told upon application for the loan (£3000 ) that he would not get a loan without taking out their insurance.
He has received a reply in essence stating that Lloyds TSB never force people to take out insurance & as the box was ticked ( by computer !), he obviously agreed to voluntarily take out the insurance. They say that they find in their own favour & owe him nothing.
Can anyone advise please.

I just reclaimed on behalf of my dad, they also sent him a letter stating that they had done nothing wrong and that he had signed to say he agreed with the PPI, i sent another letter stating that I thought they should look at the case again and that if they didn't respond more favourably within 2 weeks I was going to the FOS. Got a letter a week later giving him all his money back - don't give in!!! They will fob you off hoping that you will go away quietly if they send a letter with big words!!!

Kaia_2

Thanks again for your support mcolak, I REALLY appreciate it, I wouldnt have come this far without your help x
Will be handing in the N1 form to my local court tomorrow

Kaia_2

m.colak
just one more question please....
something I am unsure about....and wanted to check before taking forms up to the Court....
The interest paid to date is from the day loan was taken out to todays date...I have that figure and I know that is correct...
BUT...the other interest figure I calculated...
ie the 8% on Martins calculator I have worked out over 60 months for some reason (the term the policy would have lasted....from date of first instalment on loan august 2002 to july 2007) is this correct, or should it be worked out to date.....?
I think I may have got a bit confused here.
Just wanted to check this before taking the forms in this afternoon.
thanks again x

m.colak

Kaia wrote: »

m.colak
just one more question please....
something I am unsure about....and wanted to check before taking forms up to the Court....
The interest paid to date is from the day loan was taken out to todays date...I have that figure and I know that is correct...
BUT...the other interest figure I calculated...
ie the 8% on Martins calculator I have worked out over 60 months for some reason (the term the policy would have lasted....from date of first instalment on loan august 2002 to july 2007) is this correct, or should it be worked out to date.....?
I think I may have got a bit confused here.
Just wanted to check this before taking the forms in this afternoon.
thanks again x

Easy thing to do don't worry about it Kaia. The 8% interest is for the money that you have been deprived of. Therefore if you still don't have the money you are still being deprived of said amount therefore the 8% should continue until you receive the monies back and be included in your working out for the daily rate.