PPI Reclaiming discussion Part II

halifax71

My PPI was £11,755.20 with an APR of 8.4%. I've made 32 1/2 payments to date (1st one was 6 weeks). The APR has shifted between 8.4 & 10.3 over the period Jan 06 to Sept 08. I've asked for details of the APR changes but in the meantime it's probably OK to assume 9% on average. At 8.4% the PPI repayment was £91.79 over 300 months.

Offer from Central Trust

This is for me to agree to:

I understand you will take the following action.

1. Make arrangements with First Plus to cancel the insurance on our secured loan.

2. Central Trust PLC will arrange to refund the remaining insurance premium plus interest paid to date (£13,485.10)

3. The account will then be restructured by FirstPlus as though the insurance had never been taken out and our monthly repayments adjusted accordingly.

4. FirstPlus will refund any overpayments made to date by us (£3,073.29) in regards to the insurance and this money will direct to us.

---

Bit confused to be honest. Are they offering me £13k or £3k? If it's £13k my loan itself isn't going to be restuctured by the extent i was hoping for as that means that i've just paid the PPI to date really.

If it's the £3k it doesn't appear to be enough as it doesn't appear to include interest @ 8%.

Any help would be appreciated.

di3004

halifax71 wrote: »

My PPI was £11,755.20 with an APR of 8.4%. I've made 32 1/2 payments to date (1st one was 6 weeks). The APR has shifted between 8.4 & 10.3 over the period Jan 06 to Sept 08. I've asked for details of the APR changes but in the meantime it's probably OK to assume 9% on average. At 8.4% the PPI repayment was £91.79 over 300 months.

Offer from Central Trust

This is for me to agree to:

I understand you will take the following action.

1. Make arrangements with First Plus to cancel the insurance on our secured loan.

2. Central Trust PLC will arrange to refund the remaining insurance premium plus interest paid to date (£13,485.10)

3. The account will then be restructured by FirstPlus as though the insurance had never been taken out and our monthly repayments adjusted accordingly.

4. FirstPlus will refund any overpayments made to date by us (£3,073.29) in regards to the insurance and this money will direct to us.

---

Bit confused to be honest. Are they offering me £13k or £3k? If it's £13k my loan itself isn't going to be restuctured by the extent i was hoping for as that means that i've just paid the PPI to date really.

If it's the £3k it doesn't appear to be enough as it doesn't appear to include interest @ 8%.

Any help would be appreciated.

Hi hun
Cool they are to refund.:beer:
Now when it comes to calculations -that's my sore point here, so I expect Tiggrae or Marshallka will be able to help here, and see what is what.;)

Keep an eye for some replies here hun and refresh the page now and again in case you miss a post.

Good luck!
Di.
x

tiggrae

emandden wrote: »

can a ppi claim be "hurried" along at all.barclays have until the 8 october to reply before i can go to the f.o.s.but we are in huge poop at the moment due to our work transport being off the road for 2 weeks.and the ppi money would REALLY come in handy right now.is there any way of hurrying my claim along???

when did you first make your claim against them - unfortunately you do have to give them 8 weeks in which to respond

tiggrae

halifax71 wrote: »

My PPI was £11,755.20 with an APR of 8.4%. I've made 32 1/2 payments to date (1st one was 6 weeks). The APR has shifted between 8.4 & 10.3 over the period Jan 06 to Sept 08. I've asked for details of the APR changes but in the meantime it's probably OK to assume 9% on average. At 8.4% the PPI repayment was £91.79 over 300 months.

Offer from Central Trust

This is for me to agree to:

I understand you will take the following action.

1. Make arrangements with First Plus to cancel the insurance on our secured loan.

2. Central Trust PLC will arrange to refund the remaining insurance premium plus interest paid to date (£13,485.10)

3. The account will then be restructured by FirstPlus as though the insurance had never been taken out and our monthly repayments adjusted accordingly.

4. FirstPlus will refund any overpayments made to date by us (£3,073.29) in regards to the insurance and this money will direct to us.

---

Bit confused to be honest. Are they offering me £13k or £3k? If it's £13k my loan itself isn't going to be restuctured by the extent i was hoping for as that means that i've just paid the PPI to date really.

If it's the £3k it doesn't appear to be enough as it doesn't appear to include interest @ 8%.

Any help would be appreciated.

ok what I think they mean is that Central will refund to First Plus the full amount of £13k for the PPI - First Plus will refund to you the amount you've paid todate (ie the £3073.29) and restructure the remainder of the loan by removing the £91 per month - and no I would say they've not calculated the 8%

joeandy

hi there. sent complaint to fos regarding mis selling of ppi against lloyds tsb. i realise there is a long queue at the mo,how would i go about fast tracking due to financial hardship. thanx

di3004

joeandy wrote: »

hi there. sent complaint to fos regarding mis selling of ppi against lloyds tsb. i realise there is a long queue at the mo,how would i go about fast tracking due to financial hardship. thanx

Hi there hun

If your struggling financially and you can prove this to the FOS, they should be able to do this for you.;)
Give them a call tomorrow and see what they say hun, they will tell you what you need to provide.

Between me and hubby we have 3 in so far with the FOS against Lloyds TSB PPI and have been since July, and still waiting to be passed over to get them looked at.
We have since requested fast tracking.
How long has your complaint been with the FOS hun ?

Good luck!
Di.
x

joeandy

got a letter back on monday saying they have received it safely. i know its not a long time like a lot of others but i want back what is mine as soon as to circumstances. thanx for advice much appreciated

pinknico

Loving your signature Di. xxxx:D

di3004

pinknico wrote: »

Loving your signature Di. xxxx:D

Lol thanks hunni......:D , it makes a change doesn't it hunni ?:j

Any news from the FSCS yet hun ?

Oh and I found more evidence of the firm that the FSCS asked for and sent it by attachment today.;)
It was the Thank you for doing business with us, with the added firm details on it, this is what they asked for the other week when I could not find it lol.

di3004

joeandy wrote: »

got a letter back on monday saying they have received it safely. i know its not a long time like a lot of others but i want back what is mine as soon as to circumstances. thanx for advice much appreciated

No problem hun, just give us a yell anytime.;)

You can always send a copy of your bank statement if that helps to the FOS which may help.;)

Di.
x