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About PompeyFC

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  1. they have also stated that it is their policy that if we have a halifax account that is in arrears they will use the refund to pay the balance off any account that is in this state. We have a loan account but it is upto date with payments and we are always within our agreed overdraft limit so one assumes that as these accounts are not in arrears they must refund it ? If they argue was there some FOS guidance on this one ?
  2. perhaps I am mis-understanding something on single premium loan details Insurance loan (cash price of insurance) = 3454.86 add: total charge for credit for insurance loan = 907.26 Total Amount you pay for insurance loan = £4362.12 I always thought that total charge for credit was interest added to the insurance part of the loan over the period of the loan, but in fact do they then charge you interest on the total plus insurance aswell ? So in effect canning you twice ? Hence why I am claiming ther total cost of PPI in charges plus statutory or compound ?
  3. thanks for that - the statutory interest works out more than the compound anyway. scales tipped
  4. hiyah dude - so are you saying they will most likely pay what we are owed plus contractual interest from 16th February 2005 to date totalling £5,666.38. **just to be clear the loan premium was £4,362.12 inc the interest but as per the SS you sent me there is contractual or statutory to be claimed on top
  5. Hiyah Peeps Just a quick query on somethng which may not be clear to a number of people on compound and or statutory interest the details of our claim are as follows Insurance loan (cash price of insurance) = 3454.86 add: total charge for credit for insurance loan = 907.26 Total Amount you pay for insurance loan = £4362.12 pompeyfaith very kindly also calculated that in addition there is compound interest on top of £1,278.52 or statutory interest of £1,326.98 on top to add to the claim. So put simply - are the banks obliged to put you back into a position you were
  6. hiyah dude - any update on this and whether they would be paying you interest on top of your claim etc ?
  7. Just had a letter from Halifax - they are going to pay out they state they are going to put us back in the position we would have been had we not taken out the PPI insurance. what I want to know is whether they actually pay out a rate of interest on top. For example we are claiming the £4,362.12 premium charge refunded with contractual interest from 16th February 2005 to date of £5,666.38. I also require statutory interest on £5,666.38 at 8% from 16th February 2005 to date of £453.31. The total claim is therefore £6,199.69 Has anyone been paid out by Halifax and
  8. ceri so to be hijacking your thread as such I have had the loan papers back from halifax, its a revised credit agreement, same APR, same term left. However they are still saying it will not resume until 3 months after they receive the signed papers back. ( I know they will charge interest on the loan during this period but a 3 month payment holiday would come in handy) does all this sound ok to you ? and I assume it will not affect my is-selling complaint for the PPI on this loan ? incidentally they have issued a new account number and stated the current loan account number as o
  9. Alanalana - thank you for your response too, I understand what you mean, my wife's been paying back the loan for 4 years of a 7 year agreement and the loan payments minus the PPI only went down from £269 to £262. Woman said that only £211 was left to pay on the insurance over the course of the loan. (Insurance and interest totalled around £4,500) I though it was bit low and there is no rebate coming back either (although I am using the fact that my wife was not told there was a pro-rata rebate for cancelling the loan on a single premium PPI as an example of mis-selling) Guess I will wait
  10. ahh cheers dude, it could well be a document to modify the first agreement, but she was not clear on the phone, I will check everything and read the small print before the wife signs anything. Might well pop back in this thread to get some advice. If it is a new loan and the old one is cancelled, the new loan is the same apr and loan term and nothing has changed, if the wife did sign it, it will not affect any mis-selling claims going through I assume ? Thanks peeps.
  11. curiously in cancelling our insurance in the loan, we are being sent out new papers to sign as the loan monthly payment is being reduced. the apr is remaining the same as is the term but she said in effect you are taking out a new loan so we have to sign a new agreement (we also will not have to pay for 3 months - halifax do this as std wth their new loans) is this right ?
  12. hiyas was just on the phone to halifax to cancel the ppi on her existing loan, interestingly I asked how many years this covers, she said 5 and the term of the loan is 7. is this an example of mis-selling as the product does not cover her for the full term of the loan, therfore she is paying for a product she is not receving ? I did slap this in my letter to them ooo and one more quick thing aswell, they are sending out cancellation papers and re-keying the loan, we have to sign and return the papers to the loan insurance department of halifax - by signing these papers we are n
  13. cool, just out of interest how do you stop halifax renumerating the funds against your loan, we do not want them to do that ( loan is on-going) we want a cheque and for them to then re-adjust the loan accordingly
  14. oh yes billionaire me up fella. lol - cheers and regards B
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