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Hi everyone ....i need some advice on what to do.
in june this year i wrote to monument with one of the templates letters here telling them to refund the PPI charges on my account as well other charges like penality charges ,mispayment charges etc.
initially they offered to pay half of the total...which i objected to....they then offered to pay some more .
However I noticed that since the charges spanned back to some 6 year ago...they had been charging compound interest of 28.8% apr on the charges.I then calculated this compound interest and sent them a letter to refund the full amount inclusive of the compound interest quoting the reciprocity law on them.
i sent the last letter in the last week of september and this isNovemeber.......all the y have done is send me two letters saying they are investigating the matter.
I feel it is time to take them to court ...so i am asking how i should go about that....is there a special form i should fill at the court...how do i fill it.Have i given them reasonable time to respond etc
Hi everyone ....i need some advice on what to do.
in june this year i wrote to monument with one of the templates letters here telling them to refund the PPI charges on my account as well other charges like penality charges ,mispayment charges etc.
initially they offered to pay half of the total...which i objected to....they then offered to pay some more .
However I noticed that since the charges spanned back to some 6 year ago...they had been charging compound interest of 28.8% apr on the charges.I then calculated this compound interest and sent them a letter to refund the full amount inclusive of the compound interest quoting the reciprocity law on them.
i sent the last letter in the last week of september and this isNovemeber.......all the y have done is send me two letters saying they are investigating the matter.
I feel it is time to take them to court ...so i am asking how i should go about that....is there a special form i should fill at the court...how do i fill it.Have i given them reasonable time to respond etc
.......Any help will be greatly appreciated
I believe you are hasty but it is your decision if you would like your thread moved to the legal forums just let me know. The forum you are in which is PPI is not best suited to you for a Court 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.
hi thanks for responding......i was wandering if you could throw more light on your thoughts please on the hastiness.....i just want to do stuff right...so please i will appreciate any insights please
Basically if they are offering settlement and then a revised settlement then In My Opinion that is an admission that they mis-sold the PPI.
If the issue of PPI is on a loan then you should claim back the monthly premiums which should include an element of PPI,
Your claim should be for the monthly payment plus 8% statutory interest from the date the payment was made until the settlement on the claim is agreed.
If there is any complaint or disagreement then the issue is open for discussion.
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.
Hi everyone ....i need some advice on what to do.
in june this year i wrote to monument with one of the templates letters here telling them to refund the PPI charges on my account as well other charges like penality charges ,mispayment charges etc.
initially they offered to pay half of the total...which i objected to....they then offered to pay some more .
However I noticed that since the charges spanned back to some 6 year ago...they had been charging compound interest of 28.8% apr on the charges.I then calculated this compound interest and sent them a letter to refund the full amount inclusive of the compound interest quoting the reciprocity law on them.
i sent the last letter in the last week of september and this is Novemeber.......all they have done is send me two letters saying they are investigating the matter.
Meanwhile i get a letter from Lowell saying that i should pay an outstanding £1300 or they may go to court.So we have a situation where monuments owes me over £5800 from overcharges, ppi and the compounds interets charges on it over the years, and they saying i need o pay £1300 as balnace on my account.
I feel it is time to take them to court ...so i am asking how i should go about that....is there a special form i should fill at the court...how do i fill it.Have i given them reasonable time to respond or is there a mandatory time i need to give them.
If it wasn't for the PPI on your insurance you would have paid off the loan by now.
As the figure is over £5000, i don't think you should be applying to small claims court. Someone else will be able to correct me but i think it will be Magistrates.
Easy way round that... go small claims via the county court and claim only the balance due to you, which should be under £5k.
“The industry is rotten to the core, whether it is in-house recovery and collection, or where agents are used, or where the debt has been sold.” Andrew Mackinley MP, House of Commons, 22 April 2009
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I need further advice ......i realised that over the years monumt had be charging a 28% apr on the charges .....so i was wandering if it is okay to claim that....i read it is ...i will paste the letter i wrote to them....just wanted to know if it correct as i plan to claim that in court
Also how do i claim for expenses, postage,cost of consulting in reserarching all this facts
below is the letter i sent to monomt
Monumt
address
Dear Sir/Madam,
CARD/ACCOUNT NUMBER: xxxxxx
Till date I have also not received the subject access report for the charges on the account .....ie the Breakdown of how the overlimit and late payment charges were calculated to the penny, plus a breakdown of all the interest that has been charged on this monies since the opening of the account. Which according to your correspondence with me are charged at 28.820% interest per annum
I have also not received a copy of the credit agreement which bears my signature. Additionally I require the underwriting sheet or other document showing any commissions paid to you by the broker or by you to the broker. I must stress this request is NOT made pursuant to section 78 Consumer Credit Act 1974 but is made pursuant to the Civil Procedure Rules ( Pre action protocols and Part 31.16) and therefore unsigned copy will not suffice, only a copy of the original contract in its unaltered form will suffice in these circumstances
Therefore, to satisfy the requirement of fairness within the definition given by the UTCCR, the contract should provide a mutual or reciprocal term permitting the customer to apply the same rate of interest on any unauthorised withdrawals from the customer account by the bank. The interest claimed is therefore deemed to provide an equitable remedy in the context of the claim.
I have therefore now calculated the interest on all the over limit charges and sundry from 2002 till date as follows; firstly 28.820% interest and the 8% statutory interest
OVERLIMIT /LATE PAYMENT CHARGES
Total overlimit charges of---------------------£1,064
Interest at 28.820% per annum-------------£2389.72
Statutory Interest of 8%-----------------------£999.55
Total to be refunded---------------------------£4453.27
PAYMENT BREAK PLAN CHARGES
Total of charges----------------------------------£329.26
Interest at 28.820% per annum-------------£944.55
Statutory Interest of 8%-----------------------£114.25
Total to be refunded ---------------------------£1388.06
Additionally, you have entered default notices against my credit record. This default occurred merely in respect of unlawful charges levied by you, or was the result of impecuniosity caused directly by the taking by you of penalty charges which you had applied unlawfully to my account.
In addition to full payment of the sum mentioned above, I require that you remove this particular default entry.
Be advised that I expect to get the refunds sent to me via cheque or bank transfer in the next five days, failing which I will be taking the matter to the OFT and the courts to claim the money and compensation for damages due to this money being unlawfully taken and withheld from me and for entries on my credit records as a result of this charges over the past six years.
planning to take Monument to court
charges on my account as well other charges like penality charges ,mispayment charges etc.
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Originally Posted by dipobrazil
