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On the statement there is no separate payment showing for PPI so must have been front-loaded - am I right?
Can't get my head round this nor the implications of it if I am right - have read about these agreements being unenforceable but does this apply to agreements after April 2007?
you may be best having this thread in the PPI forums for your answers
i've moved it fr you as was not getting anywhere in the other forum
ida x
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On the statement there is no separate payment showing for PPI so must have been front-loaded - am I right?
Can't get my head round this nor the implications of it if I am right - have read about these agreements being unenforceable but does this apply to agreements after April 2007?
Would really appreciate your words of wisdom.
Thanks
IMO this is a single premium PPI added to the loan. If you have a valid claim for mis-selling and I would suggest single premium PPI added to a loan would be sufficient I would start to reclaim. You appear to have documentation. If you have it all then I would put in a claim for PPI mis-selling against GE money on the grounds of :
a. it was a single premium payment now banned by the Competition Commissioners Office.
You should also have a look at the stickies to see if any more mis-selling attributes apply to your case. PPI - Some Notes for Claimants..
Quote:
When determining whether a policy is suitable, a seller – whether a lender or an agent for the insurer – must obviously take into consideration any information the prospective policyholder volunteers. However, we do not consider the seller’s duty is limited simply to recording what the borrower discloses. It is only by asking questions that the seller can properly determine suitability. These questions cannot cover every aspect of a borrower’s personal position and should not be expected to do so. To paraphrase the ABI Statement, only those matters deemed to be relevant by the insurer should be the subject of questions.
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Questions - how on earth do I calculate the amount to be refunded? and as this is an ongoing agreement what effect will this have on the loan repayments?
Found the original docs today & am totally in shock about the figures here
Questions - how on earth do I calculate the amount to be refunded? and as this is an ongoing agreement what effect will this have on the loan repayments?
Found the original docs today & am totally in shock about the figures here
The PPI is costing nearly as much as the loan was before interest!
I would not worry about the reclaim amounts if you are going via the fos you should be asking for the contractual interest from the start of the loan until the end of the loan and then be asking for the statutory 8% from the start of the loan until the day you agree settlement. Even then they will take more time to settle just to keep the odd 10p
The FOS will have their own templates for calculations on claims.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
I would not worry about the reclaim amounts if you are going via the fos you should be asking for the contractual interest from the start of the loan until the end of the loan and then be asking for the statutory 8% from the start of the loan until the day you agree settlement. Even then they will take more time to settle just to keep the odd 10p
The FOS will have their own templates for calculations on claims.
aa
So, even though we're only 2yrs into a 20yr loan we'd be asking for contractual for the whole period?
This a/c is up to date so I assumed we'd only be able to claim for this period & that the loan repayment instalments would be reduced but then again that couldn't be right cos there isn't an amount apportioned to the PPI - AM I CONFUSED??? MOST DEFINATELY!!! :-|
So, even though we're only 2yrs into a 20yr loan we'd be asking for contractual for the whole period?
This a/c is up to date so I assumed we'd only be able to claim for this period & that the loan repayment instalments would be reduced but then again that couldn't be right cos there isn't an amount apportioned to the PPI - AM I CONFUSED??? MOST DEFINATELY!!! :-|
My mistake you should claim from the start of the loan up until you submit your mis-selling claim and then the loan should be adjusted to remove any PPI. You should receive a full rebate on their terms on the loan and the PPI then your repayments should reduce accordingly
You will only get a small rebate on loan after 2 years.
you should ask for contractual interest from the start of the loan up to the date you stop or settle the loan. You can however claim the statutory interest from the date the loan started up until you accept settlement of your PPI claim.
aa
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Urgh I can't get my head round these figures at all
What exactly should I ask for?
I want to have some idea so that, in the unlikely event they decide to cough up without fos intervention, I can see that I'm not doing myself out of money that would rightfully be mine :-|
Is this a multiple agreement?
attached. In my quest to get PPI refunded, I sent my SAR
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Originally Posted by mkb
