PPI Reclaiming discussion Part II

kamikazi_2

m.colak wrote: »

Over how many payments (months please)

sorry 60 months

marshallka

m.colak wrote: »

Hmmm pm me your email address and will send you the consumer credit (agreement) regulations what tells you what should be in the make up of the credit agreement: in particular:

(10) Where the information about financial and related particulars set out in paragraphs 5 and 6 of Part II of Schedule 8 to these Regulations cannot be exactly ascertained by the owner, estimated information based on such assumptions as the owner may reasonably make in all the circumstances of the case and an indication of the assumptions made shall be included in documents embodying modifying agreements varying or supplementing earlier hire agreements.

SCHEDULE 8

REGULATED MODIFYING AGREEMENTS

PART II
INFORMATION TO BE CONTAINED IN DOCUMENTS EMBODYING REGULATED MODIFYING AGREEMENTS VARYING OR SUPPLEMENTING EARLIER HIRE AGREEMENTS

Other payments

6 Modifying agreements under which any provisions of an earlier agreement relating to payments other than advance payments and hire payments are varied or supplemented, including a change to or from there being no such other payments.
(1) The amount (or a statement indicating the manner in which the amount will be determined) of each of the following descriptions of payments (not being an advance payment or a hire payment) to be made under the modified agreement by, or on behalf of, the hirer, or a relative of his, to the owner in relation to any period on or after the date of the modifying agreement, that is to say:
(a) any payment under arrangements for the installation, care, maintenance or protection of any goods;
(b) any premium under a contract of insurance; or
(c) any payment payable on termination of the modified agreement (other than a payment on default to be shown under paragraph 10 below).
(2) The timing of such payments to be made under the modified agreement expressed by reference to one or more of the following:
(a) the dates on which each payment is to be made;
(b) the frequency and number of the payments and the date of the first payment or a statement indicating the manner in which that date will be determined; or
(c) a statement indicating the manner in which the dates of the payments will be determined.
(3) References in this paragraph to the owner include references to his near relative, his partner and a member of a group of which he is a member, to any person nominated by him or by any such person in relation to the arrangements, the contract of insurance or the termination of the modified agreement, and to a near relative of his partner; and ‘near relative’ means, in relation to any person, the husband, wife, father, mother, brother, sister, son or daughter of that person and ‘group’ means the person (including a company) having control of a company together with all the companies directly or indirectly controlled by him.

Hope this helps,

Matt

pm'd you matt, thanks for that, karen

m.colak

marshallka wrote: »

pm'd you matt, thanks for that, karen

Have sent it too you now karen

m.colak

kamikazi wrote: »

sorry 60 months

Ok quick calculations

loan 4000
loan interest @7.66%=306.40
total paid =£4306.40
monthly payments = £71.77

This doesn't include any additional loan charges or arrangement fees they added. Am guessing your payments though were closer to £85 per month

walkingstar

Dear M Colak

I am taking them to court for a medical condition i had, and the fact that they did not respond to my application after being made redundant and for refusing to cancel the policy. I have filed it under mis-selling, i hope this is right

Regards

kamikazi_2

m.colak wrote: »

Ok quick calculations

loan 4000
loan interest @7.66%=306.40
total paid =£4306.40
monthly payments = £71.77

This doesn't include any additional loan charges or arrangement fees they added. Am guessing your payments though were closer to £85 per month

sorry it was 7000 pressed the wrong button. what im trying to do is find out roughly what the payments would have been without PPI. the payments are 149.60. egg have reduced the balance owing by £570 and say they will not reconsider but i think it should have been at least double this so i was trying to work out whether it was going to be worth going to the ombudsman`s with it.

thanks, Andy

niemowle

m.colak wrote: »

What was your settlement figure and what was the date of the first payment??

hi m.colak, thanks first for your reply
the date of my first payment was 28/11/05 and the ettlement figure was £1814.72
thanks
niemowle

m.colak

walkingstar wrote: »

Dear M Colak

I am taking them to court for a medical condition i had, and the fact that they did not respond to my application after being made redundant and for refusing to cancel the policy. I have filed it under mis-selling, i hope this is right

Regards

Ok this is the reason's you could take them to court:

1.You had a diagonised medical condition that wasn't covered under their terms and conditions.
2.Failure to action a cancellation of policy.

This is all information that you can confirm if you send a SAR request to them. This will give you the original terms and conditions with which you can prove that you weren't covered in the event of a reoccurance of the illness. The documentation you should receive back should also include copies of any correspondance that you sent them, however you my find yourself arguing the case of wether they received the cancellation or not, unless you did it over the phone and have asked for transcripts of telephone conversations. Check Laini post on this thread i think its #219 for a good copy of a SAR request.

m.colak

kamikazi wrote: »

sorry it was 7000 pressed the wrong button. what im trying to do is find out roughly what the payments would have been without PPI. the payments are 149.60. egg have reduced the balance owing by £570 and say they will not reconsider but i think it should have been at least double this so i was trying to work out whether it was going to be worth going to the ombudsman`s with it.

thanks, Andy

Ok have done the calculations again:

monthly payments: £125.60
amount of interest: £536.20
difference: £24 per month paid

walkingstar

m.colak wrote: »

Ok this is the reason's you could take them to court:

1.You had a diagonised medical condition that wasn't covered under their terms and conditions.
2.Failure to action a cancellation of policy.

This is all information that you can confirm if you send a SAR request to them. This will give you the original terms and conditions with which you can prove that you weren't covered in the event of a reoccurance of the illness. The documentation you should receive back should also include copies of any correspondance that you sent them, however you my find yourself arguing the case of wether they received the cancellation or not, unless you did it over the phone and have asked for transcripts of telephone conversations. Check Laini post on this thread i think its #219 for a good copy of a SAR request.

I wrote to them to cancel it the second time, i think i have a copy somewhere but file is at work. If i can find it and submit with the rest of the paperwork will this do the trick as i really dont want the stress of going to Court