PPI Reclaiming discussion Part II

tiggrae

sarahc5388 wrote: »

The FOS have phoned me out of the blue this afternoon and Barclays are offering me £2280.40 as a gesture of goodwill! I nearly fell off m y chair, the woman asked me if i'd heard anything from Barclays and i told her no, she then said she was delighted to be ther bearer of good news and then told me the figure, I can't bloody believe it, she's sending me copies of all the paperwork to look over. I'm still in shock, but i've been dying to get on here and tell you all

that's great news !!

marshallka

catinthehat1 wrote: »

This is gonna sound sooooooooooooooooooooo stupid - I don't actually know how to start a new thread!!!! My response was from GE money but they are 'sorry that I referred my complaint to the FLA'. Anyway, they obviously have had some sort of intervention, not sure what???!!!:cool:

Just go to the loans bit and then at the top it says start a new thread. You could perhaps call it FLA success's and failures thread and then you can put your success with them and Di can put her not so successful enquiry with them. I did not know they could actually help and I am sure others don't too. It may get some followers for them that cannot go to the FOS.

marshallka

tiggrae wrote: »

there is no average - but you can work out the percentage of the monthly premium is ppi if you know what was the loan amount and the ppi amount

Tiggrae from the agreement figures and all the rest the poster put on here then it looks like there was no PPI applied to the loan anyway. Done all the workings and if the poster got the £11K loan then their definately was not. See my posts below.

quisait

tiggrae wrote: »

no it would be more then that as when you paid your loan off after 3 years part of the amount you repaid would be for the PPI element along with the loan capital - you need to find the paperwork for the settlement to see how much (if anything) you were rebated for cancelling the PPI element

Hi there

As far as I know when I paid off the loan there was some kind of money from the PPI put back into the settlement figure to bring it down.

Is it worth ringing the loan company to ask them what that figure was?

As for paperwork on the settlement. I did get some but I don't remember it giving a breakdown of what they refunded from the PPI

tiggrae

amtrakuk wrote: »

On the "Homeowner Loan Agreement" the "schedule" says

The Loan: £10,800.00
The Administration Charge £200.00
Sub total: £11,000.00
Interest Rate: 1.1465% per month (APR 15.4%)

Total Payments in 84 months. The gross monthly repayment is states as £204.67. the final payment was £236.39 before I refinanced after 3 years and 3 months.

do you remember if you actually paid £204.67 every month?

pinknico

tiggrae wrote: »

hi di yes I'm sure you're supposed to receive a separate agreement for the loan and the PPI

I know for a fact that neither of my Picture loans had seperate signed agreements for loan and PPI. 2005 AND 2006

marshallka

tiggrae wrote: »

do you remember if you actually paid £204.67 every month?

Tiggrae i have already asked these questions and he says he would check with the bank tomorrow. I worked out the figures from the agreement and their definately was not any PPI if they actually got the £11K loan and paid off around £204 per month and it seems its likely. They are going to ring the bank tomorrow and find out exactly how much of the loan was put into the bank.

tiggrae

x_deano_x wrote: »

Just wondering if someone can answer a question for me?
I've used Martins template to claim back my PPI cash from Capital One. It's signed sealed and just about to be delivered. Anyway! Im currently on an IPP (Informal Payment Plan) and Capital One are one of my creditors who are on it. Will I have any trouble from Capital One for attempting to claim back my Payment Protection Insurance.....basically can I do it and will it affect my IPP agreement??? Cheers.

to be honest there is always a risk - I'm presuming a IPP is a debt management plan - if so the agreement is voluntary on the businesses part and can be withdrawn -

marshallka

pinknico wrote: »

I know for a fact that neither of my Picture loans had seperate signed agreements for loan and PPI. 2005 AND 2006

About separate agreements as from May 2005.

How to tell if you have a single premium policy?
This type of policy is mainly sold with loans rather than credit or store cards. If it’s a single premium policy, the original paperwork will show the insurance as a fixed lump sum amount.
If the agreement was after May 05, you would have been asked to sign a separate agreement so you should have extra paperwork for the loan and the insurance.
It’s also noteworthy that these policies are often only valid for five years max; even if your loan term is longer, so you could get a five year policy but end up paying interest on the insurance for the full loan term! If you didn’t realise your cover only lasts / lasted for five years read the general mis-selling section for more info

tiggrae

sarahc5388 wrote: »

hi! how are you

hi good thanks - you not hit the town then ???? :rotfl: