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how much interest do i add on to payments taken . I read somewhere that it is the contractual amount, which would be 1.98 percent. My question....after a massive row with hubby...is... there was no contract as i did not take out the PPI, so do i charge stat rate of 8%???
Grrr. I am so effing mad now because I need the money to go bankrupt. Then of course there is the case against Abbey AND trying to control my depression. Hubby is useless and I am now peed off. fos is aware but they masy take some time and we have already asked for abbey to consider us as a hardship caSe but have so far been ignored. Baxck to psychiatrist this week as it is getting too much.
is this PPI on a loan and if so was an upfront single premium policy added to the loan or was it ppi added to a credit card balance which you paid for monthly.
If it was the first you have been paying contractual interest each month this is what you want back.
So in a nutshell you want back the contractual interest they charged you plus the ppi premium of course.
there was no contract as i did not take out the ppi but you did take out a loan or credit card that is where the contract is.
You can go for the simple calculation 8% statatory interest but if it was me id want back what i paid in full so would go for the contractual rate.
Do you have the loan or credit card agreement there if so what rate does it say.
i have been a customer of kays since 1991 and these PPI payments were added each month from jan 05. kays have admiited, in writing that i was missold but have not paid up and going by their letter, there is no hint of them doing so. so any loan, ie, by personal account should have shown these charges. kays say i agreed to it all dec 04 on the phone. i have never spoken to them. they say i had the agreement sent to me and that i didnt sign against the ppi, which i have never needed, so it was started without my knowledge. as my account was a running account, they charged me varying rates rates according to my balance.
grrr
ok that dont sound right in that they admitted they have mis-sold the PPI to you and then say you agreed.
Do you have all there statements from Jan 05. if so you need to tally up all the payments made and then add on 8% statutory interest you are claiming this as compensation for paying for a policy you did not need when that money could off been better spent.
You need to send them a letter stating that as you have admitted mis-selling this ppi and have failed to refund the payments made you give them a further 2 weeks to reflecked on this after this date the matter will be taken further.
Thank you , yes , it does make sense now. After many weeks of all this, I start thinking I am going nuts.
I have written to them, telling them they have 14 working days to pay up, via cheque. But what if they don't. Do I go ahead and file to the courts or sit and wait for the fos?
I have all correspondnece and statement etc. I have one letter they sent also saying i cant go to the fos as they were never regulated by them. Not what their latest letter says though!
Thats bull boston the fos is very busy at the moment and i think they have a 6 month turn around going by what ive read here.
So the choice is yours you can wait to here from them or go down the court route is the fos aware that kays admitted they mis-sold you the PPI? if not i would send another letter to the FOS explaining this as it may well speed up the process there end.
Thank you for your replies. Yes, I have recently sent the fos a copy of the "admittance" letter so I will give kays the 14 working days and head off to court.
Kays Ppi Aarrrrggghhhhhh!!
do i add on to payments taken . I read somewhere that it is the contractual amount, which would be 1.98 percent. My question....after a massive row with hubby...is... there was no contract as i did not take out the PPI
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