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danboy381

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Posts posted by danboy381

  1. Hi ims thanks for the reply.

     

    The ppi premium was £4, 800.00. The refund offered is the 4, 800 , plus interest paid on the premium to date of 3414 plus 8% interest on the payments made towards the ppi of 1781.

     

    If the matter was resolved now, and the loan restructured, the figures offered are pretty much correct by our own calculations.

     

    Trouble we have is the loan is still running, and does so until 2020, (variable rate, so is impossible to know exactly what we will pay in the future), and as the letter from the broker states, we will continue paying for the policy through the interest on the loan!

     

    I thought the loan would automatically be restructured, with all ppi and interest removed forever!

  2. Hello everyone, we've just received an offer from loans.co.uk on our ppi mis sell, but have a couple of queries;

     

    The offer letter states uk witholding tax has been deducted from the 8% gross interest amount. Never heard of this, is it right?

     

    Secondly, it says ' since you are not crediting this payment to your outstanding loan amount (the loan is still running), you will continue to pay the lender the amount borrowed in respect of the ppi premium and any associated interest for the remaining term of the loan'

     

    Is that right? I thought the lender, in this case ge money would restructure the loan automatically once the broker notified them of the ppi refund? How can we be expected to keep paying the ppi cost and interest for the remaining 5 years of this loan, unless of course the refund more than covered all that which is doesnt...

     

    Any help much appreciated!

  3. When I say the PPI finished I mean it was sold with a loan that commenced mid 2005.

    The policy is finished as it was a 5 year policy.

     

    I know I'm still paying for it though, until the end of the loan (total of 15 years)

     

    I wanted to avoid the work of going through each monthly payment as I know the PPI portion of the payments would be 10.71%, but the actual monthly payments have varied because it is a variable rate loan.

     

    You are right though, in order to get an accurate assesment of interest to add, each monthly payment made needs to go into the spreadsheet....

     

    HOWEVER, it still leaves the fact that the loan continues to run for many years, so who will credit and re adjust the loan for the lower future payments when PPI is removed?

     

    thx

    db

  4. Thanks, I followed the sticky by IMS, but my issue is the loan is still running, I am going for the Broker that sold us the loan/ppi.

     

    Do i really need to fill in the spreadsheet detailing all the monthly payments? and as the loan is still running, (PPI policy long since finished) who is going to re adjust the loan so that the remaining balance is correct?

    Is it usual that the Broker inform the loan company?

  5. Hehe... ok then if anyone can help me here, cast ur eyes over this, my final calculation before i lick the stamp and send a letter and claim:

     

    SCHEDULE OF CHARGES

     

    Original PPI Policy Fee : £4800.00 added to a variable interest loan amount of £40,000.00, to be paid over 180 months.

    £4800.00 is calculated at 10.71% of the gross loan amount.

    Loan payments made to date: £43,150.36

    Account Balance as of todays’ date: £32,304.32

    Total payment required to terminate loan: £75,454.68

    10.71% of £75,454.68 = £8081.20

    Statutory interest claim of 8% calculated over 2863 days since commencement of PPI policy £5056.30

    Total Claim £13,137.50

     

    any help appreciated but does the Interest bit sound about right?

     

    thanks

    DB

  6. Hello everyone, Sorry I've been reading loads on here about working out the interest on a PPI claim, but can't fathom it -

     

    I want to reclaim a single missold ppi policy, cost £4,800.

    It was added to a loan took out in May 2005, and the loan runs for 15 years.

    The interest is variable so has changed many times since May 2005, how do I work out the damn interest!?

    I understand that I can also add 8% (i will be issuing court proceedings if i don't get a result in 14 days or so)

     

    Can someone help or post a link pls.

     

    Thanks alot.

    danboy

  7. Thanks DX.

     

    Er, they already have fobbed us off.

     

    The loan is a couple of months in arrears, and I phoned up to make a 'payment plan'.

     

    I also took the opportunity to give 'em a dressing down about the amount of interest we are paying, the fact we were missold PPI,. the excessive charges etc etc and they ought to be ashamed. Hehe.

     

    I was told the broker Loans .co.uk was the provider of the PPI and it has nothing to do with them.

     

    Anyway, the call obviously got recorded and listened too as I have received letters from GE money offering 'some' charges back, (no mention of ppi) and they have also notified Loans.co.uk and they have written to us too, advising they would look into our complaint.

     

    Who do we reclaim PPI from GE money or Loans.co.uk (the broker)?

     

    Thanks.

  8. This looks like straight forward well organised fraud. Is there no protection ebay have/can offer you in this matter? Probalby not if you transacted outside of ebay. If not, and the whole transaction completed in cash/bankers draft attend your nearest Police station and tell them you wish to report a crime to a senior officer if possible. Pass all your evidence to them, and insist they investigate. You should also report everything to the SFO (serious fraud office)

  9. Hi, The guy trades on his own - sole trader. The ccj is against him and his ltd firm too (2 defendants)

     

    We have read through the court notes and 3rd party form, it asks for details of either the debtors bank details or the "person or firm that owes the debtor money".....

     

    so looks like if an order is granted, it can be served on a bank or anyone else that is "holding", or owing money to the debtor that is about to be paid over...

  10. Thanks ploddertom,

     

    No the writ was not renewed. I think they expire after 12 months? No we never paid abortive fee, as the HCEO wrote to us a couple of times as the debtor offered to pay a pound a month or something ridiculous, so we ignored it. The hceo firm haven't written since.

     

    I thought the 3rd party order is sent to the company who owes the debtor, then they have to hold the funds or send it to the court? We know the company and was going to try to ask them to hold payment until we have all our ducks in a row.

     

    Whatdya reckon - any thing else we need to know?

  11. Hello everyone,

     

    We had a firm that owed our firm money. We took it to court, won and got Judgement.

     

    We transferred the CCJ to the High Court so that we could use High court enforcement officers.

     

    This failed in that the slippery debtor knew the ropes and hid their assets.

     

    We are now aware that a company we know is about to pay them in relation to some cash they owe them

     

    We would like to obtain a 3rd party debt order from the court, but the question is:

     

    Do we inform the Bailiff office what we are needing to do? because its now a High court writ? , or, does the CCJ still "exist" 24 months later since obtaining judgement, and do we fill in the correct forms at the court and request a judge issues the 3rd party order?

     

    As so long has passed since the bailiffs dealt with it, about 2 years, do we just carry on? Seems like it could slow things down if we notify them...

     

    Many thanks for any advice...

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