Hi dx finally an update, monument have written to me saying that they will refund me the ppi charges for the last 6 years which they have as £67.67 + compound interest at a rate of 22.48% which they state is £3.87. As I stated earlier the account was opened in 2003 and using the average of the amounts I have it should be £378.43 plus the interest. So the question is where do I go from here?

They have not actually gave me anything though, they have sold the account to arrow global with a balance of £1148 surely once the account has been sold the charges should have been paid to me or to arrow global

Right, I have sent the ppi claim in so fingers crossed that gets sorted. What would you reccomend I do regarding the charges. Thanks

Hi dx, Yes I do have statements from the time of sale and it appears that they are not charging intrest as the balance has just remained at £498.65. Could you point me in the direction of the letters, etc that I need to claim back the PBP. Thanks

That's the thing though the charges look like they have been refunded however I don't understand how that works because monument sold the debt to arrow global who are still asking me for the region £1100. So if my charges were refunded then it means that the amount should be a lot less than the £1100

Is anyone able to help? A PPI reclaim letter for monument would be very much appreciated

Hi again, I have received the SAR documents today and need to no where to go next. I signed the agreement on the 14/10/03 however monument have only provided me with the last 6 years of payment information, notes, etc. I definitely had the payment break plan but I can't work out how much I have paid because I only have payment information from the 14/7/06 to the 14/5/07 when the account was sold on. I have spoken to a member of the customer relations team who stated that to claim for miss sold ppi i have to make a claim in writing which obviously I was aware of. Is there a 6 year limit on ppi or would I be able to claim it all back? Now on to the charges and it is a bit confusing, it states in my notes that on the 6/7/2007 my account was sold to arrow global with a balance of £1148.37, however monument applied the following credits to my account. £28.93 purchase fin chg credit £141.47 cash finance chg credit £27.18 purchase fin chg credit £13.10 purchase fin chg credit £10.77 purchase fin chg credit £273.63 late fee credit £154.64 overlimit fee credit Total £649.72 The documentation now states that my account balance is £498.65 surely if they have sold the account my balance with monument should be 0. Sorry for the long post and if someone could help me pick the bones out of that and tell me how to proceed it would be greatly appreciated. Thanks again

I have had a couple of letters from welcome since I sent the complaint. The first letter was to state that they are investigating my complaint and hope to have it resolved in 8 weeks. A second letter came a week or 2 after stating that the investigation was still ongoing and that they still hoped to have it resolved within 8 weeks. Hopefully I will have more news in the coming weeks.

ok thank you for that.

can you run a quick eye over this and see if you would change anything 07/07/2012 Loan Account numbers Dear Sir/Madam Following media reports, and an investigation into loan account charges by theOffice of Fair Trading, which I have recently been made aware of, I nowunderstand, that the regime of fees which you applied to my account in relationto late fees, letter fees, direct debit cancellation fees and missed payments,are unlawful at Common Law, Statute and Consumer regulations, in that they didnot/do not, represent a genuine pre-estimate of your actual costs. I would draw your attention to the terms of the contract which you agreed to atthe time that this account was opened. It is an implied term of that contractthat you would conduct yourselves lawfully and in a manner which complies withUK law, and in consideration of fair business practices and good faith. It is my contention that you have failed to operate my account in a manner conduciveto the above, and have demonstrated a lack of fiduciary duty. I calculate that you have taken £165 plus £1626.53 which you have charged me ininterest which total £1791.53. In recent years, Courts have been happy to accept claims for bank charges thatexceed 6 years,whilst having regards to the precedent set between KLEINWORT BENSON -v- LINCOLNCITY COUNCIL under section 32 © of the Limitation Act 1980. Should county court actionbe needed I will be seeking to rely on this. Therefore this letter requests a refund of all charges indicated includinginterest 14 days from the date of this letter. I request that payment is made directly to me, by cheque, and that any refundin whole or part should not be allocated to any set off or third parties. Should this occur, my claim will be deemed as unsettled and I will proceed tothe Courts for recovery. You now have 14 days to respond positively, and in the absence of this, I willput you on notice with a further 14 days, letter before action. I trust this clarifies my position. Yours Faithfully COMPOUND INTEREST CALCULATOR PERSONAL DETAILS CLAIM CALCULATION Claimant Name: [EDIT] Total of Charges £165.00 Lender Name: Welcome Finance Compound Interest £1,626.53 Account Number: [EDIT] Claim From: 22/04/2004 Claim To: 07/07/2012 Total £1,791.53 Interest Rate (APR): 46.50% Date of Charge Description Amount of Charge Number of Days Elapsed Compound Interest 22/04/2004 fee assesment £20.00 2998 £440.44 22/12/2005 adhoc fee £20.00 2389 £223.48 24/01/2006 adhoc fee £20.00 2356 £215.22 07/02/2006 adhoc fee £20.00 2342 £211.80 09/02/2006 adhoc fee £5.00 2340 £52.83 02/02/2006 adhoc fee £5.00 2347 £53.25 07/08/2006 adhoc fee £5.00 2161 £42.95 24/10/2006 adhoc fee £20.00 2083 £156.78 31/10/2006 adhoc fee £10.00 2076 £77.75 21/06/2007 adhoc fee £10.00 1843 £58.76 23/10/2008 debit cancelled fee £20.00 1353 £62.37 30/10/2008 letter fee £10.00 1346 £30.88

Thanks

Just about to sort out the prelim letter and just want to confirm I am using the spreadsheet correctly, do I put todays date in the claim to box or is the claim to just untill the agreement ended?

Thanks will start the process asap and then see what they say, would love to see there extortionate interest rate come back to bite them.

I have had various loans with welcome in the past and a year or so ago I sent them a SAR to work out charges and re-claim PPI I have just used the compound interest calculator to work out what I may be owed, the total charges are £165 and with the contractual interest rate of 47.5% it works out at a massive £1789.66. How far back can you claim charges? The first one is on the 22/4/04 and the last is on the 30/10/08. Also what are welcome like for refunding charges in your experience? I have won a PPI claim from welcome in the past but not sure how different the charges claim will be. Where do I go from here? Templates would be greatly appreciated.

No problem I will do thanks for your help and I will update this when I get the info from monument.