consumer forums consumerforums Total Bank Charges Returned : £17,500,569 to 10384 people.

Bank Charges Refunds Survey | 'Buddy' System | Get an email address | Registration Problems | FAQ
The Consumer Forums  

CAG Products - We think that these will help you to make your claim or Reclaim your Right

These sales also help us to keep helping YOU and ensure this site will remain free to use!

Small Claims Kit-- Small Claims Court Guide
**New Edition**
Consumer Action Group envelope labels Last Will & Testament Kit Fight a Motoring Ticket
 
Alternatively you could purchase a CAG email address here, or maybe you'd prefer our address labels here


UPDATE: Consumer Forums ConsumerWiki is now LIVE - click here: ConsumerWiki

Patricia Pearl - Small Claims Procedure - A Practical Guide
An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.
£17.10 + £1 (P&P)

Lawpack - Small Claims Kit
Contains everything you need to sue your bank (or anyone else) including sample forms, instruction manual, templates, and an entire set of court forms in PDF format on CD Rom.
£10.99 + £1 (P&P)

Last Will and Testament Kit
Make a legally valid will without the fuss and expense of a solicitor - includes a full step-by-step guide.
£12.99 + £1 (P&P)

Fight a Motoring Ticket Kit
All the templates and documents that you need to challenge your speeding ticket, parking fine - with advice from one of the UK’s leading motor offence solicitors
£9.99 + £1 (P&P)


Go Back   The Consumer Forums > The Consumer Forums
The Consumer Action Group
> Payment Protection Insurance (PPI)

  CAG Announcements
 
Welcome Guest
Please register
Registration is free
There are no charges for using any of the facilities of this website.
If this is your first visit, be sure to check out the FAQ. You will have to register before you can post. To start viewing messages, select the forum that you want to visit from the selection below.
You will also have to register to access our template letters and claims forms
registration is free
Are you being threatened over debts more than 6 years old?
This may be unfair
See our new Unfair Trading Guide
eBay buyer?
Buy more cheaply
Win more often
ConsumerSniper.com
Have you been defaulted?
Would you like to clean up your credit file?
Check it out
Ebay buyer?
ConsumerSniper
Free unlimited bids and eBay tools
Have you been defaulted?
Would you like to clean up your credit file?
Check it out
 
 

Payment Protection Insurance (PPI) The misselling of Payment Protection Insurance is widespread, and believed to run into billions of pounds. This forum will help you to see if you have a valid claim for a refund, and guide you through the process.

Reply
 
LinkBack (1) Thread Tools
Old 22nd January 2007, 13:09   #21 (permalink)
Gold Account Customer
 
skbuncks's Avatar
 
Give yourself a better chance with our claims guides and litigation kits

Cagger since : Mar 2006
I am in: casa del gusano
Posts: 614
skbuncks Informativeskbuncks Informative
Default Re: Hhmmmm.....Very Interesting

Quote:
Originally Posted by bally35 View Post
if you can prove taht your contracts were tempoarary at this point I imagine that is all the proof that you will need.
Cite your previous experience of trying to claim whilst on a temp contract (why would you want to do that again?)
For the first loan your right I think that is all the proof I need (getting the proof maybe problematic however). For all subsequent loans however I was in full time employment.
skbuncks is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 22nd January 2007, 13:12   #22 (permalink)
Gold Account Customer
 
skbuncks's Avatar
 
Free trial on our eBay auction sniper

Cagger since : Mar 2006
I am in: casa del gusano
Posts: 614
skbuncks Informativeskbuncks Informative
Default Re: Hhmmmm.....Very Interesting

Quote:
Originally Posted by reidnet View Post
There was a rule brought in , I think it was from Feb 2005 that any Agreement has to Include a total charge for credit. As far as I can remember this was introduced by the FSA..I will have a look later when I have more time. I have it on file somewhere..lol

And it has to be laid out ..along these lines

Loan amount Interest Amount Total

PPI Cost Interest Amount Total
Hi Reidnet. Were there any rules regarding the above in effect pre 2005, as all my loans were taken out before then

Last edited by skbuncks; 22nd January 2007 at 13:53.
skbuncks is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 22nd January 2007, 18:59   #23 (permalink)
Platinum Account Customer
 
eBay user? Find misspellings and zero-bid items

Cagger since : Aug 2006
I am in: Dundee, Scotland
Posts: 1,379
reidnet Informativereidnet Informativereidnet Informativereidnet Informativereidnet Informative
Default Re: Hhmmmm.....Very Interesting

Hi SKbuncks,
Before the FSA brought out that rule in 2005 it was not essential to split the total cost of credit in the fashion as mentioned above. It was basically a free for all before that ruling was brought in.

The rule was brought in to stop consumers being mislead into the actual cost of the loan and the PPI. Did it work..I Think Not..

Ian
reidnet is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 26th January 2007, 14:29   #24 (permalink)
Basic Account Customer
 
We need funds
Please donate something

Cagger since : Dec 2006
Posts: 19
boxer64 Novitiate
Default Re: Hhmmmm.....Very Interesting

Quote:
Originally Posted by skbuncks View Post
The spreadsheets i used for my calculations can be found here

PPI for posting web.xls

skb
hi iv been unable to upload the spreadsheet you mentioned any alternative
ive got a couple of ppi claims to make on personall loans
one still in force, a single premium insurance loan with halifax, and another monthly premium ppi with Abbey

thanks boxers 64

Last edited by boxer64; 26th January 2007 at 14:30. Reason: misc details
boxer64 is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 31st January 2007, 12:44   #25 (permalink)
Gold Account Customer
 
skbuncks's Avatar
 
Is your bank avoiding its debts
Data disclosure poll

Cagger since : Mar 2006
I am in: casa del gusano
Posts: 614
skbuncks Informativeskbuncks Informative
Default Re: Hhmmmm.....Very Interesting

Quote:
Originally Posted by boxer64 View Post
hi iv been unable to upload the spreadsheet you mentioned any alternative
ive got a couple of ppi claims to make on personall loans
one still in force, a single premium insurance loan with halifax, and another monthly premium ppi with Abbey

thanks boxers 64
Hi Boxer, Have just tried it and the download still works so I would give it another go.
Its not really a template though and more of a "This is how i did it" type thing. It can be modified for anyones claim if you play around with a bit but is quite time consuming in the amount of data you have to enter. Im sure there are better ways to do it but the calculations involved are far beyond my simple mind to grasp

skb
skbuncks is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 31st January 2007, 14:01   #26 (permalink)
Basic Account Customer
Default Re: Hhmmmm.....Very Interesting

Quote:
Originally Posted by skbuncks View Post
Hi Boxer, Have just tried it and the download still works so I would give it another go.
Its not really a template though and more of a "This is how i did it" type thing. It can be modified for anyones claim if you play around with a bit but is quite time consuming in the amount of data you have to enter. Im sure there are better ways to do it but the calculations involved are far beyond my simple mind to grasp

skb
hi skbuncks, sorry to sound stupid, but i can't see how to download the ppi file from the fileshare home page, the file details seem to be grayed out unable to click on them.

also in relation to your total charge for credit question earlier, check the Consumer Credit Act 74, Sect 20 Total Charge for Credit.Sect 60 Form and Content of agrements Sect 64 Duty To Give Notice of Cancelallation Rights Sect 97 Duty to Give Infomation
thanks boxer

Last edited by boxer64; 31st January 2007 at 15:52.
boxer64 is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 31st January 2007, 14:19   #27 (permalink)
Classic Account Customer
 
Have we helped you? Please help us by making a donation

Cagger since : Dec 2006
Posts: 212
marcelle Novitiate
Default Re: Hhmmmm.....Very Interesting

Quote:
Originally Posted by skbuncks View Post
Questions - The burden of proof

My first graduate loan PPI was obviously missold as it was not fit for purpose - ie I was on a temporary working contract and when I lost my job and tried to claim I was told I they wouldnt pay out because temporary contracts were not covered by the insurance. On taking out the loan the bank was aware that I was on a temporary contract.
For subsequent loans I was told no PPI then no loan - how do I prove this as its my word against theirs??????

Question - Contracts

Does the loan contract have to state the total amount payable under the agreement i.e the loan + PPI + interest???

skb

It's interesting you say the PPI do not cover for temporary contracts as I took mine out and I was on a temporary contract... in fact I still am. So if I'm not covered what's the point in paying out the extra money per month??? I've been reading about people trying to cancel their PPI but to no avail is this true before I phone my bank and cancel it?

Skb, I just found your post and I am looking at it closely as I can relate to a lot of your stuff.... I'm in the process of sending my Subject Access Request off to RBOS to see what's up with my case.

Is it just me or do the banks not send you statements once in a while to let you know how much you've paid, etc.?? I have never had anything from them since the day I took the loan out!!
marcelle is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 12th February 2007, 12:34   #28 (permalink)
Gold Account Customer
 
skbuncks's Avatar
 
Where else can you earn 8% interest on your money?
Start your County Court claim NOW!!!

Cagger since : Mar 2006
I am in: casa del gusano
Posts: 614
skbuncks Informativeskbuncks Informative
Default Re: Hhmmmm.....Very Interesting

Whether your covered whilst on a temporary contract will depend upon the wording in the terms and conditions of the PPI policy. Certainly in the case of lloyds PPI you are not covered

Quote:
Originally Posted by marcelle View Post
Is it just me or do the banks not send you statements once in a while to let you know how much you've paid, etc.?? I have never had anything from them since the day I took the loan out!!
LLoyds have never sent out statements, but you can obtain a current balance of the loan via their internet banking, am unsure if this is something RBOS offer
skbuncks is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 12th February 2007, 20:21   #29 (permalink)
Classic Account Customer
 
Have we helped you? Please help us by making a donation

Cagger since : Dec 2006
Posts: 212
marcelle Novitiate
Default Re: Hhmmmm.....Very Interesting

Thanks skbuncks, i'll check with rbos!
marcelle is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 12th February 2007, 21:26   #30 (permalink)
Basic Account Customer
 
Have we helped you? Please help us by making a donation

Cagger since : Dec 2006
Posts: 19
boxer64 Novitiate
Default Re: Hhmmmm.....Very Interesting

Quote:
Originally Posted by skbuncks View Post
Hi Boxer, Have just tried it and the download still works so I would give it another go.
Its not really a template though and more of a "This is how i did it" type thing. It can be modified for anyones claim if you play around with a bit but is quite time consuming in the amount of data you have to enter. Im sure there are better ways to do it but the calculations involved are far beyond my simple mind to grasp

skb
finaly downloaded the spreed sheat thanks, iv'e just sent out my non compliance / prelim Claim letters to halifax and barclys, and prelim Claim / LBA letters to Abbey, so im just going to work out my ppi acconts using varios spreadsheet templates,
Thanks again
boxer64 is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 13th April 2007, 12:58   #31 (permalink)
Gold Account Customer
 
skbuncks's Avatar
 
We need funds
Please donate something

Cagger since : Mar 2006
I am in: casa del gusano
Posts: 614
skbuncks Informativeskbuncks Informative
Default Re: Hhmmmm.....Very Interesting

Update:

Am still chasing lloyds up for missing info about first graduate loan. They finally got back to me with some fob off about needing more info from me in order to chase it up, id already given them the dam loan account number twice. So sent them what they need and am wating again. God but they annoy me

skb
skbuncks is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 13th April 2007, 12:59   #32 (permalink)
Gold Account Customer
 
skbuncks's Avatar
 
Have we helped you? Please help us by making a donation

Cagger since : Mar 2006
I am in: casa del gusano
Posts: 614
skbuncks Informativeskbuncks Informative
Default Re: Hhmmmm.....Very Interesting

Anyone know who underwrote lloyds insurance from 1999 to the present. Am going to send them a Subject Access Request for all details they hold too, will be interesting to see just how much the insurance actually cost

skb
skbuncks is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 13th April 2007, 19:30   #33 (permalink)
Platinum Account Customer
 
Your bank owes you an awful lot more money than you realise See here

Cagger since : Aug 2006
I am in: Dundee, Scotland
Posts: 1,379
reidnet Informativereidnet Informativereidnet Informativereidnet Informativereidnet Informative
Default Re: Hhmmmm.....Very Interesting

I would presume it would have been their own Insurance, Lloyds Insurance Services. I would be surprised if they would have had it underwritten by anyone else, of course using in house Insurance would also invrease their Profits etc..lol

You can try contacting this address and see if they can help out..

Complaints Department
Lloyd's
One Lime Street
London
EC3M 7HA

Tel. 020 7327 5693
Fax. 020 7327 5225

E-Mail Complaints@Lloyds.com

Hope that Helps.

Good Luck

Ian
reidnet is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 13th April 2007, 22:34   #34 (permalink)
Basic Account Customer
 
Free trial on our eBay auction sniper

Cagger since : Jan 2007
I am in: nottingham
Posts: 55
rks99 Novitiate
Default Re: Hhmmmm.....Very Interesting

Quote:
Originally Posted by skbuncks View Post
The spreadsheets i used for my calculations can be found here

PPI for posting web.xls

skb
I really would love to get some figures for my loan/ppi. Tried this link but it says'file not found' and I get re-directed to the home page. I wonder what I'm not doing right?
rks99 is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 26th April 2007, 11:34   #35 (permalink)
Basic Account Customer
Default Re: Hhmmmm.....Very Interesting

Hello
Just subscribing. Am currently claiming for bank charges and intend to look into ppi as I was misold one and have been trying to cancel for the past 3 months without success. Am paying £78 a month just for the ppi.
Good luck.
lolia is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 26th April 2007, 14:55   #36 (permalink)
Basic Account Customer
 
We need funds
Please donate something

Cagger since : Dec 2006
Posts: 19
boxer64 Novitiate
Default Re: Hhmmmm.....Very Interesting

Quote:
Originally Posted by lolia View Post
Hello
Just subscribing. Am currently claiming for bank charges and intend to look into ppi as I was misold one and have been trying to cancel for the past 3 months without success. Am paying £78 a month just for the ppi.
Good luck.
Hi
lolia recntly had my mis selling complaint unheald by the HALIFAX, they offered me new loan without PPI, and refund of premiums on final account of existing loan, but im still unemployed after they declined claim made on existing PPI, and would be unable to pay new loan.
contemplating how to get compensated overall, haven't signed any thing yet, but the admittion of mis selling is a start
Anybody with advice please feel free to respond.
boxer64 is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 12th June 2007, 12:27   #37 (permalink)
Gold Account Customer
 
skbuncks's Avatar
 
Where else can you earn 8% interest on your money?
Start your County Court claim NOW!!!

Cagger since : Mar 2006
I am in: casa del gusano
Posts: 614
skbuncks Informativeskbuncks Informative
Default Re: Hhmmmm.....Very Interesting

Finally I have some of the missing data I requested in nvember last year, namely the rebate amounts from each loan. Lloyds are however unable to supply the loan agreement from the first loan as its from too long ago. Strange as I thought they had to keep stuff for six years and loan wasnt closed until April 2002. Still they have said in their latest letter that they will be supplying a transaction list for the loan shortly. Im gunna ive them a week then proceed anyway cos im sick of waiting.

I have know been able to finalise the figures for grad loans 2 and 3 and select loan 1.
Alos looking back over my employment history I was in temporary employment (six month contracts) up until July 2002 so grad loan 1,2 and 3 PPI policies were mis-sold on the basis that my employment circumstance immediately excluded me from cover.
The Lloyds TSB Loan Protection Policy Document has this to say on exclusions to the Policy:

Quote:
You will not be covered for any period of unemployment which:
Immediately follows a period of casual or temporary work, or
Is normal in your line of work, or
Results from the end of a fixed term contract, except where you have:
· Worked continuously for the same employer for at least 24 months, or
· Been on a contract for at least 12 months and had that contract renewed at least once

__________________
Victory over Lloyds £890 Click!
Victory over Vodafone: default removal click!
Victory over Lloyds PPI claim £2606 click!
Barclaycard lazygoing - £580 + £398 contractual int at 17.7 % click! (Received partial payment £110 21/11/06)
The GF's battle against RBS click! stayed awaiting the end of the world
skbuncks is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 12th June 2007, 12:49   #38 (permalink)
Gold Account Customer
 
skbuncks's Avatar
 
eBay user? Find misspellings and zero-bid items

Cagger since : Mar 2006
I am in: casa del gusano
Posts: 614
skbuncks Informativeskbuncks Informative
Default Re: Hhmmmm.....Very Interesting

Tables








Last edited by skbuncks; 13th June 2007 at 14:03. Reason: make smaller and include loan 1
skbuncks is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 12th June 2007, 13:06   #39 (permalink)
Gold Account Customer
 
skbuncks's Avatar
 
Free trial on our eBay auction sniper

Cagger since : Mar 2006
I am in: casa del gusano
Posts: 614
skbuncks Informativeskbuncks Informative
Default Re: Hhmmmm.....Very Interesting

Some explanatory notes on the above tables.

1) I calculated interest seperately and on a daily basis for the loan amount and the PPI amount.
To convert from APR to daily interest I used the following formula:

Daily rate = ((1+APR)^(1/365))-1

2) Outstanding Balance - This is what I calculate the outstanding balance to have been for loan and PPI when the loan was paid off. Settlement figure include the early settle fee which is subtracted 3 lines below. The variance is the difference between my figures and banks figures. An exact match would be very hard to come by

ie loan 3: loan balance of £3500.48 + PPI balance of £709 = Total £4209.5
loan 3: settlement figure of £ 4061.91 which is £4009.74 minus the ERC. If you add the rebate to this (which for loan 3 was paid into the loan to reduce the settlement amount) this equals £4215.18.
£4218.18 - £4209.48 = £4.8 so theres a difference of £4.8 between my calcs and theres over a 39 month period.

3) Insurance to claim back is calculated as follows (again for loan 3)
Total insurance premiums paid + difference between rebate and settlement figure for the PPI.

ie loan 3: £1347.84 + (709-205.44) = £1851.40

4) The calcs for select loan are a bit more complicated as they continued to take payments for several months after the loan was actually paid off. They assured me at the time that they would balance the books correctly but, well, they didnt.

As a matter of interest lloyds base their rebates (roughly) on the following table:

Months into loan 0 percentage rebate 100
Months into loan 12 percentage rebate 65
Months into loan 18 percentage rebate 49
Months into loan 24 percentage rebate 34
Months into loan 36 percentage rebate 14
Months into loan 48 percentage rebate 4
Months into loan 60 percentage rebate 0


Hope this is clear lol

Current total to claim = £2943.03 and still to add in grad loan 1

skb


skbuncks is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 13th June 2007, 14:06   #40 (permalink)
Gold Account Customer
 
skbuncks's Avatar
 
We need funds
Please donate something

Cagger since : Mar 2006
I am in: casa del gusano
Posts: 614
skbuncks Informativeskbuncks Informative
Default Re: Hhmmmm.....Very Interesting

Graduate loan 1 comes to £444.49 to claim.

Grand total = £3387.52
skbuncks is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply


Thread Tools


LinkBacks (?)
LinkBack to this Thread: http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/46496-hhmmmm-very-interesting.html
Posted By For Type Date
PPI [Archive] - Consumer Action Group This thread Refback 10th May 2007 17:42


Similar Threads
Thread Thread Starter The Consumer Forums Replies Last Post
Well all this is very interesting... hazyjog Barclays Bank 3 15th March 2007 17:26
An interesting one. ben007 The Woolwich 1 8th August 2006 14:26
An interesting one...... kevb0444 General Consumer Issues 3 11th June 2006 14:00






Reclaim the Right Ltd. - reg.05783665 in the UK reg. office:- 923 Finchley Road London NW11 7PE