Central Trust £25 Loan PPP refund

[dx100uk]

thanks landy for doing that

it was my next speps in the explaination.

i agree with the figures too.

 

dx

[landy_alert]

thanks landy for doing that

it was my next speps in the explaination.

i agree with the figures too.

 

dx

 

You're welcome dx - happy to help

[bobbydog]

hi landy and dx100

 

first and foremost the loan i originally had with these people has NEVER been re-financed, it is still a continuation of the existing loan, minus the 4047.00 rebated to the account, i still have to pay (at the moment) the full amount, i have never recieved a revised date for the loan to end.

and what you are basically saying is that 3592.52 comes to me

3705 should be a second payment to the account and a revised final payment date. that will require some legal typ[e letter ............

Edited March 21, 2010 by bobbydog
placing a full stop

[landy_alert]

hi landy and dx100

 

first and foremost the loan i originally had with these people has NEVER been re-financed, it is still a continuation of the existing loan, minus the 4047.00 rebated to the account, i still have to pay (at the moment) the full amount, i have never recieved a revised date for the loan to end.

and what you are basically saying is that 3592.52 comes to me

3705 should be a second payment to the account and a revised final payment date. that will require some legal typ[e letter ............

 

Hi Bobbydog:)

 

Apologies - I meant to say I had no experience of loans that have been rescheduled not refinanced

 

If they have kept your payments the same but reduced the loan term they should definitely have given you a revised date for the loan to end, or so I would have thought.

 

Yes, what you are saying is correct - other than the fact that the £3592.52 which comes to you should be broken down into your monthly PPI payments and the 8% interest applied as I believe you said you had done in post 72, then as dx explained either entered onto a spreadsheet or submitted in the form of a list.

 

Landy x

[bobbydog]

will get on with a letter asap will post for checking is that ok

[landy_alert]

will get on with a letter asap will post for checking is that ok

 

Okey dokey

[bobbydog]

COMPLIANT OFFICER

Liz Cooke,

Firstly, may i thank you for your letter, received by me 19-03-2010,

Regarding point one of your reply, stating that the interest rate was changed in November 2007.

You note to me regarding term 3 of the credit agreement terms and conditions

you seem to have copied the terms direct from the page of the T&C’S

can you please explain fully the companies reasoning for each and all the increases made to the account at various times during the term of the agreement to date.

In point 2 of your answer, you have not answered the question i asked you, i asked as to why the terms of payment had not been reduced to reflect the cancellation of the PPI insurance payments, still to this day i am paying the full payment as per loan and PPI.

Can you furnish me with the date when my last payment of the agreement will be.

It is in my considered opinion that you should be refunding all PPI premiums that i have paid to date by personal cheque made payable to me, which totals £3592.52 PLUS 8% on each individual monthly PPI payment made from the first payment to the present payment .

 

it is also my considered opinion that the still remaining unused portion of the PPI premiums (as the loan was for 120 months, out of which i have paid 38 - leaving 82 still to pay) should be refunded back to the loan balance in full.

 

However, as i have already received a PPI rebate (when the PPI was cancelled?) of £4047.22 this amount should be deducted from the total figure of PPI payments

 

So your outstanding loan balance should reduce by the appropriate amount

 

i am still of the opinion that this PPI insurance was and still is a mis-sold agreement, and to date i am still not fully satisfied with either the rebate given, and your ambiguous answers to questions asked.

As to the final part of your letter regarding that referring the complaint to the FOS, may fall out of their jurisdiction, may i just state that i believe that that particular statement is wrong for you to state, and i feel that the statement is meant to intimidate me in continuing this claim

Below is my calculations as per rebate claimed from 12/1/2007 to date representing all and every PPI payment made from that date

 

AMT DUE + 8% date of payment

122.15 27.61 12/01/2007

121.33 26.79 12/02/2007

120.59 26.05 12/03/2007

119.77 25.23 12/04/2007

118.99 24.45 12/05/2007

118.19 23.65 12/06/2007

117.42 22.88 12/07/2007

116.62 22.08 12/08/2007

115.84 21.30 12/09/2007

115.08 20.54 12/10/2007

114.3 19.76 12/11/2007

113.56 19.02 12/12/2007

112.79 18.25 12/01/2008

112.03 17.49 12/02/2008

111.32 16.78 12/03/2008

110.57 16.03 12/04/2008

109.85 15.31 12/05/2008

109.11 14.57 12/06/2008

108.39 13.85 12/07/2008

107.66 13.12 12/08/2008

106.94 12.40 12/09/2008

106.24 11.70 12/10/2008

105.52 10.98 12/11/2008

104.83 10.29 12/12/2008

104.12 9.58 12/01/2009

103.42 8.88 12/02/2009

102.79 8.25 12/03/2009

102.1 7.56 12/04/2009

101.43 6.89 12/05/2009

100.74 6.2 12/06/2009

100.09 5.55 12/07/2009

99.41 4.87 12/08/2009

98.74 4.20 12/09/2009

98.1 3.56 12/10/2009

97.43 2.89 12/11/2009

96.8 2.26 12/12/2009

96.14 1.60 12/01/2010

95.49 0.95 12/02/2010

94.91 0.37 12/03/2010

 

[bobbydog]

as i am not brilliant with wordings please take a look and offer any advice (if needed) cheers in advance landy and dx + any others

[dx100uk]

working on it

 

dx

[dx100uk]

Dear complaint pleb.

 

thank you for your letter of 19th march 2009 concerning our mutual financial matters, specifically Loan No. XXXX of the xx/xx/xxxx date.

 

However, i am still puzzled upon where the account now stands on the following issues:

 

1. outstanding balance.

2. monthly repayment levels.

3. completion date.

 

It is my understanding that the loan should have been restructured following the PPI cancellation and partial refund by yourselves, however, this does not appear to have happened, which is leading to my above confusion.

 

As a point of clarity, I hereby make my position perfectly clear as to where we now stand with my [now] outstanding complaints.

 

Complete my reclaim of the PPI as per FOS guidelines - spreadsheet att.

 

I demand you refund all PPI premiums i have paid (ie, 39 x £94.54 = £3687.06) plus 8% statutory interest on each individual monthly PPI payment from the date it was paid to the date of this claim, total £4164.83.

The remaining yet to be paid PPI monthly premiums (my loan was for 120 months, out of which i have paid 39 - leaving 81 still to pay) should be refunded back to the loan balance - £94.54 x 81 = £7657.74.

 

Deduct the partial PPI refund of £4047.22 from this figure, thus my outstanding loan balance should reduce by a further £3610.52 (£7657.74 - £4047.22 = £3610.52).

 

I demand you refund the 'administration charge' of £50 for said partial PPI refund - there are no indications in any FOS/OFT guidelines that give you permission to charge an administration 'fee' in relation to a refund on a mis-sold PPI policy reclaim. If you think you are correct, then please show me the legal document you are relying upon to levy such a charge, so l may verify this with the relevent authority.

 

Your attention is also drawn to the 'brokers fee' of £1875 you charged me upon my application for the loan, again there are no indications in any FOS/OFT guidelines that give you permission to charge such a 'fee'. If you think you are correct, then please show me the legal document you are relying upon to levy such a charge, so l may verify this with the relevent authority. I demand you refund said 'brokers fee' and the interest you charged upon it [10.44%], plus 8% statutory interest = £3326.82

 

Having studied the guidelines provided by the FOS, it is my intention to refer these matters to them in eight weeks time should I not receive a favourable response from your company.

 

yours

not an idiot comsumer.

 

.........................

 

 

dx

Edited March 26, 2010 by dx100uk
added bits ........ now completed

[bobbydog]

wow, thats direct dx may i use it

you have such a way with words

[dx100uk]

ofcourse you can

 

dx

[landy_alert]

Hi Bobbydog:)

 

I see dx has provided you with an excellent letter to send (recorded delivery of course) - now they will see you mean business and all you should need to do is stick to your guns (and your timeframe) and let us know how you get on.

 

Landy x

[bobbydog]

hi all this is (possibly) final draft have a look, check it over then i can sign it off

 

Dear compliant officer,

 

Liz Cooke ...

 

Thank you for your letter of 19th march 2009 concerning our mutual financial matters, specifically Loan No. xxxxxxxx.

 

However, i am still puzzled upon where the account now stands on the following issues:

 

1. outstanding balance.

 

2. monthly repayment levels.

 

3. completion date.

 

It is my understanding that the loan should have been restructured from the existing amount to a new lower amount, following the PPI cancellation, and partial refund by yourselves, however, this does not appear to have happened, which is leading to my above confusion.

 

As a point of clarity, I hereby make my position perfectly clear as to where we now stand with my [now] outstanding complaints.

 

Complete my reclaim of the PPI as per

FOS guidelines - spreadsheet att.

]

You should refund to me by cheque all PPI premiums I have paid (ie, 38 x £94.54 = £3592.52) plus 8% on each individual monthly PPI payment from the date it was paid to the date of this claim.

 

The remaining yet to be paid PPI monthly premiums (my loan was for 120 months, out of which i have paid 38 - leaving 82 still to pay) should be refunded back to the loan balance - £94.54 x 82 = £7752.28.

 

Deduct the partial PPI refund of £4047.22 from this figure, thus my outstanding loan balance should reduce by a further £3705.06. (£7752.28 - £4047.22 = £3705.06).

 

Refund the 'administration charge' of £50 for said partial PPI refund - there are no statements in the fos guidelines that allows you to charge 'fees' on a mis-sold PPI policy reclaim complaint.

Failure to fully re-evaluate my complaint FULLY by you, will result in

1, A full descriptively worded letter to your head offices in Malta to investigate my complaint

 

2, Having studied fully and intensively over a period of months, the guidelines provided to me, by the FOS, it is my intention to refer these matters to them in eight weeks time should I not receive a favourable response from your company.

Edited March 25, 2010 by citizenB
removed font formatting

[dx100uk]

edit this post and remove the a/c number

dx

[bobbydog]

soz

[dx100uk]

id kill this bit too:

 

make you look like a pratt

 

FONT='Verdana','sans-serif']Failure to fully re-evaluate my complaint FULLY by you, will result in [/font]

1, A full descriptively worded letter to your head offices in Malta to investigate my complaint

 

i'd also put the closing line back to how i had it, again, don't make yourself look a pratt.

 

i migt have 5 mins later to do you a spreadsheet.

 

see how i get on

 

dx

[bobbydog]

done thanks

[dx100uk]

i have ammended post 83 what was the loan int rate please?

dx

[bobbydog]

according to loan agreement the int rate for loan

 

loan 25,000 @ 13.1 %

ppi 7023.80 @ 11.00%

int chgs legal fees broker arrgt 18,650 @ 10.44 %

 

hope this helps

[dx100uk]

nice

 

more later

 

dx

[bobbydog]

you're a diamond

[bobbydog]

subbing for info

[bobbydog]

hi there, am still waiting patiently dx as i want your iformation to do good

[dx100uk]

yep sorry up to my eyeballs trying to sort lots of my own issues.

 

you are not off my radar.

 

what i am going to do is add another claim in there for the brokers fee amount too just need the time to work it out.

 

dx