PPI Reclaiming discussion Part II

di3004

marshallka wrote: »

I think that there should be an online site with a register of GISC members with dates (like the FSA Register) and then a claim place (FOS online claim) whereby ANYONE sold single premium policy can just place a claim themselves and you automatically get your money back from these people that sell them. This would save time with FOS and put the fear of god into these places that continue to sell them and make millions in the process.

Just dreaming:D

Wow what a dream - a great one too lol.....:D
I agree though it would be a lot easier and less of a waiting system with the FOS.....:D :j .

Absolut_Wench

Right, I've got the figures for my loans together. This is a long post with a lot of figures, and I hope it makes sense

I'd be grateful if some of our experts here could cast their eyes over it and suggest whether Halifax are making a fair offer? Many thanks

(ps if I don't reply straight away, I promise I'm not being rude - my sis-in-law is currently in labour and will need rushing to the hospital soon, so I may disappear without warning )


The loans were as follows:

Nov 2002 - Loan 1

Cash loan £8000
Interest on cash loan £1653.40
Insurance £1295.05
Interest on insurance £238.55
Total cost of insurance £1533.60


Total loan £9295.05
Total interest £1891.95
Total amount you pay £11,187.00

APR 11.9%
36 monthly payments of £310.75

12 payments of £310.75 made (total £3729), then loan consolidated with loan 2. £7458 remaining.

Feb 2004 - Loan 2

Consolidated loan 1, never had a breakdown of the settlement, there probably was a PPI rebate, as a payment of £6355.17 was made off the old loan (leaving a shortfall of £1102.83 i.e. £7458 - £6355.17 = £1102.83 - I'm wondering if this would be considered an unfair rebate?)


Cash loan £8660
Interest on cash loan £1126.60
Insurance £1378.28
Interest on insurance £179.44
Total cost of insurance £1557.72

Total loan £10,038.28
Total interest £1306.04
Total amount you pay £11,344.32

APR 7.5%
36 monthly payments of £315.12

Made 18 payments of £315.12 (total £5672.16) before starting to struggle and making reduced payments via DMP.

Offer from Halifax:

Refund of premiums to date £1028.07
Refund of interest at 7.5% APR £ 159.18
Interest for compensation at 8% £ 1.74

Total redress £1188.98

di3004

Absolut_Wench wrote: »

Right, I've got the figures for my loans together. This is a long post with a lot of figures, and I hope it makes sense

I'd be grateful if some of our experts here could cast their eyes over it and suggest whether Halifax are making a fair offer? Many thanks

(ps if I don't reply straight away, I promise I'm not being rude - my sis-in-law is currently in labour and will need rushing to the hospital soon, so I may disappear without warning )


The loans were as follows:

Nov 2002 - Loan 1

Cash loan £8000
Interest on cash loan £1653.40
Insurance £1295.05
Interest on insurance £238.55
Total cost of insurance £1533.60


Total loan £9295.05
Total interest £1891.95
Total amount you pay £11,187.00

APR 11.9%
36 monthly payments of £310.75

12 payments of £310.75 made (total £3729), then loan consolidated with loan 2. £7458 remaining.

Feb 2004 - Loan 2

Consolidated loan 1, never had a breakdown of the settlement, there probably was a PPI rebate, as a payment of £6355.17 was made off the old loan (leaving a shortfall of £1102.83 i.e. £7458 - £6355.17 = £1102.83 - I'm wondering if this would be considered an unfair rebate?)


Cash loan £8660
Interest on cash loan £1126.60
Insurance £1378.28
Interest on insurance £179.44
Total cost of insurance £1557.72

Total loan £10,038.28
Total interest £1306.04
Total amount you pay £11,344.32

APR 7.5%
36 monthly payments of £315.12

Made 18 payments of £315.12 (total £5672.16) before starting to struggle and making reduced payments via DMP.

Offer from Halifax:

Refund of premiums to date £1028.07
Refund of interest at 7.5% APR £ 159.18
Interest for compensation at 8% £ 1.74

Total redress £1188.98

Hi hun, thanks for adding this and sure someone with experience of dealing with calculations will come along and have a look at this for you.;)

Yes, I would also say you have a case on an unfair rebate, this case is quite similar to one of mine that I am dealing with right now.

Good luck.
Di.
x

marshallka

Tiggrae, are you around:D Your expertise is needed

Post above....

thanks

Niallclear2008

Hi, can anyone tell me whether BLRI - Business Loan Repayment Insurance is the same as PPI? or is it compulsory to have this with every business loan? Thanks!!

marshallka

This may help anyone new wondering whether to claim for misselling

http://www.thisismoney.co.uk/quizzes/quizStn.html?in_quiz_id=14888&in_page_id=87

marshallka

Niallclear2008 wrote: »

Hi, can anyone tell me whether BLRI - Business Loan Repayment Insurance is the same as PPI? or is it compulsory to have this with every business loan? Thanks!!

Not heard of this but i am sure someone on here will know. I have googled it and it seems that most BLRI is like PPI in that previous medical conditions etc are not insured. Were you told it was compulsory to the loan???

I would of thought that they would have had to discuss all this with you prior and that you could of opted for some other form or insurance even if it was compulsory to the loan.

di3004

marshallka wrote: »

This may help anyone new wondering whether to claim for misselling

http://www.thisismoney.co.uk/quizzes/quizStn.html?in_quiz_id=14888&in_page_id=87

Cool.;)

Did you ever get to read my Nemo story on that site hun ?;)
I'm sure I have posted it here before....:rolleyes:
This was when I was first complaining of the mis sold policy....:rolleyes: I think you did.
If you have not then let me know and I will add it on here, I could always add it anyway so others could get to read it what do ya think ?:D

Di.
x

marshallka

di3004 wrote: »

Cool.;)

Did you ever get to read my Nemo story on that site hun ?;)
I'm sure I have posted it here before....:rolleyes:
This was when I was first complaining of the mis sold policy....:rolleyes: I think you did.
If you have not then let me know and I will add it on here, I could always add it anyway so others could get to read it what do ya think ?:D

Di.
x

I read it Di but others probably won't have so get it posted.

di3004

Ours regarding mis selling went in the media here......;)

This has since been won through the FOS.

Please feel free to have a browse.:D

http://www.thisismoney.co.uk/campaigns/loansinsu/article.html?in_article_id=413869&in_page_id=506