Thread: Help needed v Alliance and Leicester

Originally Posted by bmibabyfc

Hi all...

Well after getting all my bank charges back its now PPI i am after as i believe i was mis sold it, in other words told unless i had it i wouldnt get the loan which i needed...

I need some help please as i am a bit lost as to what A and L actually have sent me and cannot make sense of it all...

It took about 8 weeks to get them to send information on my loan after sending the S.A.R - (Subject access request), they didnt even acknowledge my loan and just sent 5 months worth of bank statements which were no good to me at all... I had to send a letter off to the financial obs to get the information i was after!!

Anyway, i have received a personal loan statement and would like to know exactly what i can reclaim on - please also note an unpaid direct debit charge of £152.34 which i will be most certainly claiming back for...

Anyway here is the table i have been sent...

credits debits balance
19/04/05 loan principal £6000 £6000
19/04/05 interest on insurance £325.99 £6325.99
19/04/05 interest on principal £1563.00 £7888.99
19/04/05 insurance principal £1251.41 £9140.40 These figures in red is the actual amount they charged you for ppi £1,577.40
01/06/05 direct debit £152.34 £8988.06
01/06/05 unpaid direct debit £152.34 £9140.40
18/08/05 payment received £126.72 £9013.68
01/10/05 payment received £130.00 £8883.68
03/11/05 payment received £130.00 £8753.68
18/11/05 interest on principal £1132.53 £7621.15
18/11/05 interest on insurance £236.21 £7384.94
18/11/05 insurance principal £978.56 £6406.38
looks like they refunded this back a total of £1,214.77
18/11/05 payment received £6536.38 -£130.00 Is this what you paid to finish the loan
25/11/05 refund of credit balance £130.00 £0.00

Now if anyone can make sense of that it would be greatly appreciated...

As said i will be claiming for the unpaid direct debit fee of £152.34 (crazy!!) the question is do i do that seperatly from the ppi claim or all as one?

As always thanks for your help...

Hello,

I have put a few comments above. According to the figures you have paid the loan off in November 05. Is this correct????? It looks like they refunded some of the unpaid insurance and interest principle back into the loan therefore reducing the balance owing. It looks like you actually paid them £362.63 ppi and interest for the short term you had the loan. IMHO you can go for the £362.63 and add on 8% interest from the start of the loan.

If I have mis-understood, please correct me

Originally Posted by bmibabyfc

Hi hells...

Yes i paid the loan off in November 05, i think your estimation is the figure that i am coming too...

I will send the letter off asking for the PPI difference back, is there any need to mention the figure owed or will they work that out themselves?

thanks again for your help...

Hello Bmibabyfc,

Many thanks for your click I am pleased to help.

Personally I would tell them exactly the amount I require back as a refund, and I would also ask for the 8% statutory interest on top. If you don't ask, you don't get. This 8% interest you can work out on the spreadsheet on the bank charges template sticky on the main page of the forum. From 2005 should be worth asking for

If you get stuck give a shout.

Originally Posted by bmibabyfc

Right then...

A and L have offered me £157.74 as a settlement....

I think i should refuse that and go on the figure that Hells came up with, do you agree?

Take it i just go online and file the court case against them like the bank charges?

Any help is appreciated...

Hello Bmibaby,

Yes I think if you accept their offer, you will sell yourself short.

You can write back to them accepting their offer as part settlement, but you still want the rest, give them another 10days for further reflection, or you will issue a N1 at your local court. If they do not comply, then it is best to issue a N1 at your local court. You will find the N1 in the bank template letter section on the main page of the forum. You can put more done on your POC. The mcol is about limited as the wordage is limited.

If you want to post up your poc before sending for comments, that is up to you.

Are you after the amount plus 8%

Originally Posted by bmibabyfc

Hi all

Well i gave them a further 10 days to review the offer and they have come back with a settlement off £170.00 which includes 8% interest...

As worked out above Hells you seemed to think i should be owed £362.63 - are you pretty sure this is the amount i should be claiming as if you are i will take your word for it and issue claim tonight online against them for this amount... It seems that A and L dont think it is this much???

They did give me £130.00 back after i paid the final balance off... Was this PPI being refunded???

Any help appreciated as i want to get this sorted!!!

Hello Bmibaby,

I must admit that I am not an accountant, so the figures I calculated may or may not be correct. Please check the figures yourself, or ask them how they calculated them for the refund. What did they say in their response?????? If you received £130 back after you paid of the balance, this could have been a ppi refund.

Let me know what you think