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Found 11 results

  1. Hello', I am new to the forum, I need help regarding PPI; back in 2006 I took a loan from hsbc, the amount was £3000.00 and the toltal charge for Credit was £4185.45 so the Total Amount payable under the agreement was £4185.45; the initial repayment was £69.61 follow by 59 further monthly repayments of £69.76. The Credit Protection Insurance Loan was sold to me without explaining nothing about it, the Amount of Premium was £753.80 (Including Insurance Premium Tax at the appropriate rate) and the Amount of Loan was £750.00. The total charge for the credit was £296.36; The total charge for Credit was £296.36 and the Total Amount payable under the Agreement was £1046.36 the initial repayment was £17.40 followed by 59 further repayments of £17.44. The Agreement says that I authorised the Bank to pay an initial repayment of £87.01 and 59 further repayments of £87.20 for the total loan of £3750.00 plus interest. The Bank proposed to offer me the amount of £1,500.73 (PPI PREMIUM REDRESS £1,051.67 plus taxable interest at 8% of £449.06). Should I accept this offer? Thanks in advance for your advice.
  2. hi although i have had been apparently paying ppi for over 6 years and their summary of finding were that at the time for the non advised sael they had no obligation to discuss products with consumers.they had no responsibility to help us decide on policy cover. please help there is more on the letter very long
  3. HI i have a first plus loan which was taken out just under 5 years ago. i visited their site to claim back my ppi the loan was FOR about £13k and they added the ppi loan of about 2500k. i was paying aroud £168 amonth back. they have now said that that i was misssold and are offering the following : a refund of £1680 + *% interest also the will take 250k ppi + intrest of the loan my payments will be to around 140 a month its this correct or should i get the whole of the ppi money and my payments stay the same? the £1680 is the 140 - 168 =28*12 =336*5 any help would be grateful and hope this make sense as i went through their site and not the FOS or any ppi comapny thanks in advance
  4. Hi. I am hoping someone will be able to help me. I contacted GE Money a couple of weeks ago by phone on 01626 492367 only to be told that they can not find my account details regarding a loan I took out a number of years ago. They told me to send them a letter. I sent them the name, address and account number and photo copies of the loan agreement and all the details. They have replied to me today asking for the reason why I took the loan out??? They have everything they need, they tell me and I quote "Unfortunately we have not been able to trace this customers account". They also only give a fax number as a way to communicate with them, no email, telephone etc. Are they hoping that I will forget about it as they are making it difficult to get in touch with them? Any help or advice would be appreciated. Thanks
  5. I took out a loan with freedom fianance 2008 and the PPI is with First Plus. I wrote to FP who said to contact FF which obvously now longer exist. The FSCS contacted me and I completed the claims forms they sent me a cheque for £800 (which i have not banked yet) I am still paying the PPI to FP and according to the policy can claim back in 1 years time. I just wanted to know should I pursue my PPI claim with FP and can I still do this even if I bank the cheque from the FSCS. The PPI is over £2000 pounds and I don't see why they should have it when it was mis sold if not by them but by FF who they were happy at the time to sell these insurance policies for them.
  6. Hi everybody, Like millions I am not sure how to start or do "PPI Claims". I would like do it myself but I dont want to mess up things, I think I got a good chance to get something I had several loans fron RBS and they all paid and fnished. But the problem did i missold PPI or not I dont know. I rang the bank and asked them have I missold PPI or not but they didnt tell me, they said I need write in. I got no idea how many loans I had and Which years I had? So first of all can some one please show me sample letter, finding out about all my loan details, PPI, etc.. at the past. Also I got mortgage with them as well (still going on) is there ppi on mortgage too. Thanks in Advance to everyone Kindest Regards
  7. Hello! This is a question about Compound Interest & Restituionary Damages, I've read up on them but there's a couple of things I'm not sure about. I want to query them using a PPI reclaim on a credit card as an example. This is going to be long-winded but I wanted to explain things in as much detail as possible, as I said I've looked through this forum at length and through some FSA stuff online as well as other reading material but couldn't find a definite answer on how Compound Interest and Restitutionary Damages relate to one another or how RD is calculated. Ok, here goes... So I understand that I can claim back my PPI premiums and I can calculate Compound Interest and claim that back as well (I also understand that if I were to go to court I can then add 8% stat int. on top and then claim that back as well but for now if we just assume I'm not going to court.) I think I'm right in saying that to calculate my claim with compound interest I just work out what my individual premiums were, find out what the APR I was paying for purchases through my lender and use those figures to calculate my claim. e.g. To keep things simple lets say I make 10 payments to my credit card from 01/01/11 - 01/10/11 (APR of 20%) and the PPI premium is £10, I have paid £100 I shouldn't have so I'm entitled to that plus the 20% APR so my claim is for £120. This I where I get slightly confused as to Restituionary Damages as I thought that it was, in essence the same as compund interest. But if Restitutionary Damages is essentially claiming back the unjust profit that the lender has made with my money then can I claim back Compound Interest AND Restitutionary Damges as the money claimed back on the CI is mine anyway, it is just the premium I paid and the insurance on the premium that I paid. It is completely separate to the profit that the bank has made by lending out the money that I shouldn't have paid but did. I also read that when claiming Compound Interest the start and end dates of the calculation are in line with your first and last premium paid, but with Restitutionary Damages the start date is the date of your first premium and the end date is 'today's date' as the lender is still making a profit from the money it took off you by continuing to lend it out. So how do I calculate RD and is it in addition to CI??? I've established I paid £12 per month wrongfully for 10 months hence a CI claim of £120 but assuming today is 1/4/12 then the bank has had my money for 15 months, so am I claiming 10 months of CI with 5 months of RD on top or am I claiming 10 months of CI plus 15 months of RD?? And if RD is reclaiming JUST the profit the lender has made with my money is that caluclated at the same APR i paid? e.g The lender used the £12 it took off me in month 1 and lent it out at 20% so the profit on that is £2.40 per month for 15 months which = £36. Then in month 2 it did the same for 14 months which = £33.60. In month 3 it did the for 13 months which = £31.20. etc. So is that then calculated all the way up to the 1/10/11 when I made my last payment and the lender made £2.40 profit on that for 5 months which = £12. So, assuming thats what RD is I would then add up all those figures together to work out what the profit is that the lender made by lending out my £12 to other people at the same APR that I paid (Note that I'm not factoring in the £12 as I'm aware that those premiums are already getting claimed back on the CI side, I'm just attempting to calculate the profit made by the bank on the premiums I paid). All those figures when added together total £288, so would my claim be £120 for Compound Interest PLUS £288 in Restitutionary Damages????? Also can I only claim back RD if I were to go court?? Or if I went to court could I claim back £120 (CI) + £288 (RD) = £408 * 8% stat int = £440.64???!!! I do realise that I have turned a £120 claim into a £440 one which sounds ridiculous but this is just a hypothetical situation, the above is just the conclusion I have come to regarding the info I have read on CI and RD and I am keen to finds out what the facts on the matter are. I have potential claims but I am keen to get a complete understanding on the matter first, one thing I've learned from this website: Knowledge is Power. Many thanks to anyone who replies, it will be a great help to me and anyone else who reads this post. Regards, ESG PS If you have made it all the way to the bottom of this post then give yourself a pat on the back. You've earned it!
  8. My Sister is in arrears with Welcome Finance. she has provided them with a breakdown of her finances and made an agreement to pay via CAB. They are however still phoning her and trying to raise the amount she is paying. and repeatedly ask her for copies of her recent Bank statements. I have advised her to make a claim for PPI as they told her it was a condition of taking the loan. I also believe they are charging her excessive fees for phone calls.letters etc Is she legally obliged to provide copies of her Bank Statements or other personal documents? How does she make a claim for excessive charges? thank you
  9. Hi all, First time poster so hope I'm not breaking any rules with this one. I've had a number of loans over the last 10 years, some with and some without PPI - I've been keeping an eye on the whole issue for a while now and always though it wasn't worth claiming as unfortunately I'm one of these people who nevers keeps financial documents. Looking at my credit file from creditexpert, I can see that I've had the following loans: Egg Account Opened Account Closed 19/05/2005 23/12/2006 23/12/2005 09/11/2007 Barclays Account Opened Account Closed 08/09/2006 07/11/2007 26/10/2006 04/07/2007 05/11/2007 10/12/2008 And I know I had a Welcome Finance loan, going back possibly to around 2003 - but I can't be 100% sure. To be honest I can't even remember if I didn't had PPI on all of the above, so I guess my question would be - is it worth claiming for the above if I don't have any documentation or numbers relevant to the agreements? If so, where do I start - would it be with a SARs request? Apologies for asking lots of questions that I'm sure have been answered before, not really sure where to start with this one.
  10. Hello, please can someone help me out. i have had a few loans from HSBC but no longer have the loan agreements or any documents with ref numbers on etc. How do i get copies of the loan agreements? Do i just write to the bank? Do i have to send money? Please help. Thanks Cristy
  11. Hello I took out an egg loan on the Internet in 2004 I have ppi on loan That came to around 300 pounds extra The thing is at moment loan is with dca as they have bought it off egg. am I am able to try and claim ppi and if so would this put the account in dispute I have already been sent agreement from egg Thanks in advance for any help
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