PPI Reclaiming discussion Part II

marshallka

di3004 wrote: »

Just gonna add my twopart/eloan here again as it was when we first had the loan in Nov 2005

Cash loan amount £43,000
optional ppi £8,492.50
Total loan £51,492.50
Monthly int rate 0.600%
Apr (assumes no variation in rate) 7.4%


Est No of mthly payments 300
Monthly payment £370.53

First payment to be made on 18/12/05


Assuming you keep to the term of the agreement and that interest rates do no vary, the interest would be:
£9840.24.

The total price you pay for cover is £18332.24

SINGLE LIFE, SINGLE ASU COVER.

Blimey looking at that the interest of £9840.24 was higher than the ppi itself and that amount of £18332.24 is also extortionate too for the total price of cover !!!!

But you did not have to pay it did you?? You only paid in the end £852 didn't you as the rest was rebated etc.

ALso its the first one that I have seen whereby they actually stated the total cost too.

It was extortionate if you had kept the loan and they had not refunded but as some companies go they were pretty fair but if you are going for the misselling then you still need the £852 back.

di3004

marshallka wrote: »

I am going off now but hopefully you will get some more advice from Tiggrae on this one. Has she commented again on it?? What does she suggest??

Maybe start court proceedings in the county court or can you not do this as there is no company to take to court??

I would try to seek one hour with a consumer credit solicitor to enquire about what you can do now. I was going to do this with my "untouchables". They hold a clinic type thing in our town on issues like this or maybe go to the citizens advice for some more advice.

Not heard anything further hun...... , but yep maybe a consumer credit solicitor is the right direction for this one, may also contact the CAB tomorrow too to see what they have to say.

You have a good night hun, sleep well and catch you tomorrow and thanks.;) xxx

di3004

marshallka wrote: »

But you did not have to pay it did you?? You only paid in the end £852 didn't you as the rest was rebated etc.

ALso its the first one that I have seen whereby they actually stated the total cost too.

It was extortionate if you had kept the loan and they had not refunded but as some companies go they were pretty fair but if you are going for the misselling then you still need the £852 back.

Yep hun that's the one, just needed to be sure that's all.;)
Think it did work out that of over £800 plus interest to reclaim back.
I had requested for this breakdown from them personally by contacting them, as I wanted this in writing because at the time I did not know how they worked it all out.;)

maxdp

marshallka wrote: »

I am going off now but hopefully you will get some more advice from Tiggrae on this one. Has she commented again on it?? What does she suggest??

Maybe start court proceedings in the county court or can you not do this as there is no company to take to court??

I would try to seek one hour with a consumer credit solicitor to enquire about what you can do now. I was going to do this with my "untouchables". They hold a clinic type thing in our town on issues like this or maybe go to the citizens advice for some more advice.

Go for it Marshallka but my experience is they do not answer anything just give you little bits of information just enough to get you interested so you go further with them:rolleyes:

nembot

First of all I'd like to say thanks to the people on this forum before I post another question, already saved me about a hundred quid

I didn't submit a template letter as such, but tried to make it clear I sort of knew what I was talking about. In the details I also pointed out the various untruths 'should we say' from the customer reps I've spoken to in the last few months, which could be recalled if even as just a transcript from the calls. If Beneficial play hardball, do you think I could use this as leverage for stress caused by the whole process in a final letter to nudge them towards paying out rather than going through the FSO process?

Must admit I did get through to one guy who was really helpful and told me the exact amount I was paying, while the rest of the staff told me they didn't have this information to hand. Frustrating to say the least, especially when they use the same offsite storage as the company I work for does and I know exactly how long it takes to recall data.

The deception and denial from these companies is making me even more determined to fight to the end, so not matter what, I won't be giving up.

maxdp

Anyway Goodnight all closing off now have things to watch and things to do.

Talk tomorrow:D

di3004

nembot wrote: »

First of all I'd like to say thanks to the people on this forum before I post another question, already saved me about a hundred quid

I didn't submit a template letter as such, but tried to make it clear I sort of knew what I was talking about. In the details I also pointed out the various untruths 'should we say' from the customer reps I've spoken to in the last few months, which could be recalled if even as just a transcript from the calls. If Beneficial play hardball, do you think I could use this as leverage for stress caused by the whole process in a final letter to nudge them towards paying out rather than going through the FSO process?

Must admit I did get through to one guy who was really helpful and told me the exact amount I was paying, while the rest of the staff told me they didn't have this information to hand. Frustrating to say the least, especially when they use the same offsite storage as the company I work for does and I know exactly how long it takes to recall data.

The deception and denial from these companies is making me even more determined to fight to the end, so not matter what, I won't be giving up.

Good one hun.:D

Anything is worth a try hun, you will not know if you don't.....;) , so yep go for it, you can still threaten them with the FOS.:D

Good luck and again keep us posted.:beer: .

Di.
x

di3004

maxdp wrote: »

Anyway Goodnight all closing off now have things to watch and things to do.

Talk tomorrow:D

Night hunni, I won't be too long about now I don't think.;)
Sleep well and see ya tomorrow.:D .

Night hun.
Di.
xxx

Beccamc

Would like to say a big thank you to this site it has helped me a lot

Would also like to know if anybody has had any luck in getting back PPI against MBNA.

They have been charging me ppi every month for the last 3 years, can't remember signing anything to say that i wanted ppi, so i requested a copy of the terms and conditions that i signed when i applied for the card. When it came i have not ticked the box or signed to say that i wanted it.

Got on the phone at once to try to get back my money but the very rude guy said 'no way we phoned you in July 2006 and you agreed on the phone that you wanted ppi and there is nothing you can do about it' :mad:

Can someone please help and tell me what to do next.

di3004

Beccamc wrote: »

Would like to say a big thank you to this site it has helped me a lot

Would also like to know if anybody has had any luck in getting back PPI against MBNA.

They have been charging me ppi every month for the last 3 years, can't remember signing anything to say that i wanted ppi, so i requested a copy of the terms and conditions that i signed when i applied for the card. When it came i have not ticked the box or signed to say that i wanted it.

Got on the phone at once to try to get back my money but the very rude guy said 'no way we phoned you in July 2006 and you agreed on the phone that you wanted ppi and there is nothing you can do about it' :mad:

Can someone please help and tell me what to do next.

Hi there hun
They are fobbing you off.

You need to complain and request the mis sold ppi back in writing hunni, check here and this link will show you some examples, and there is also a reclaim template link.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance


Now from here hun, for whatever reason you believe you were mis sold you need to add this, always give an explanation to your reason this will make your letter look stronger.

The template is there to help you but try to re arrange this into your own words.
You tell them if they do not uphold your complaint and refund you your ppi plus interest you will not hesitate to complain to the Financial Ombudsman to investigate this for you.;)

If you require further info hun just give us a yell and one of us will be back here to help you through this.

Don't worry, we will try our best to help you.;)

Catch you later.
Di.
x