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Hi,

Great advice on CAG and decided to claim for money back on a single premium policy that Halifax PPI sold in Oct 2000(still paying off to a DCA),although I have read the basics on here I could really do with some help through the whole process beginning with stage 1....

any offfers ,please.

 

Background:

Personal Loan taken out with Halifax,told that loan would only be approved if the PPI was also taken.

Feb 2003,made redundant and tried to claim but refused as did not notify Halifax of change in working hours (went from Full-time to Part-time due to having a baby in 2002)

Went to Halifax branch to complain and cancel the PPI as it was waste of money(obviousy not very happy as it cost £1461.00)to be told that there was nothing that could be done.

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Hello

 

First step is to send a Subject Access Request to them - this forces them to send to you all details they hold on you such as statements, payments, copy original loan agreement, etc so puts you in a good posiiton to reclaim as you will have all the figures so can work out what they owe you.

 

Subject Access Request can be found in Bank Template Letters, i think. You have to send it recorded delivery with a £10 cheque - but they might not cash the cheque, Northern Rock didn't when I sent mine. They have 40 days to reply.

 

I've just received mine and am now in the process of looking at figures with help from PompeyFaith on this site, and drafting the second letter to reclaim the charges.

 

Good luck

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Hi Jan4a,

thanks for the reply....one question;is there an address that deals with PPI matters or should I send it to the branch the loan was taken out from?

Will get to work on the letter over the weekend.

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Have read on another thread that I don't need to send a SARs request as I have the original copy of the loan agreement.

reads;

cash loan £5000

add;total charge for credit for cash loan £1858.60

total amount you pay for cash loan £6858.60

insurance loan(cash price of insurance) £1065.28

total amount you pay for credit for insurance loan £395.72

total amount you pay for insurance loan £1461.00

 

Annual Percentage Rate 14%

monthly interest rate 1.101%

total loan £6065.28

total charge for credit for total loan £2254.32

total amount you pay £8319.60

can anyone tell me how much interest would be owed....the loan was taken out 02/10/2000

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The expert on here re figures is Pompeyfaith so hopefully he'll help you when he comes on! There is a PPI spreadsheet at top of PPI section which works it out if you are OK with Excel.

 

On Subject Access Request I think the idea is to find out what they have on you - I still had my original loan agreement but that didn't mean they still had their copy of it! Plus they have notes that their telephone people have put on the system about you that it is useful to see, especially if you are unsure of dates when you have rang them etc.

 

On address I wrote to Northern Rock at Head Office. Not sure about Halifax. I'd have a look through PPI section and look if anyone else reclaiming against Halifax have put it on. If not I'd go via Head Office, seems to be Data Protection Section for Subject Access and then Complaints Dept for reclaiming PPI letters.

 

Hopefully someone else will comment soon and advise re Subject Access, but I definately found it worth doing first.

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Out of curiosity, how long would the insurance have paid your premiums for if you had been able to claim?

 

I ask because I was made redundant in January, got a claim form (I had never been provided with T&C's before) read all the info and realised that if I'd claimed on insurance they would only pay my loan for 12 months - despite there being 6 years left on it. What was I supposed to do if I was redundant for more than 12 months? So, I worked out that if I claimed on insurance most I would get would be around £1200 but if won unfair PPI claim I would get around £5k back.

 

That is merely one of the problems with mine, just wondered if yours is same.

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Have no idea as I only have the loan agreement not the T&Cs of the PPI(most probably threw them in the bin when I realised I'd paid the best part of £1500 on a worthless bit of paper).Still live and learn,only found out about claiming for PPI because the bank's taking the p**s on the charges on my account.

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Hiya Greendollar,

 

Ok how many months was the loan over supply that and ill work it all out for you.

 

Regards

 

PF


If I have been of help to you please feel free to click my scales to the left Thanks.:)

I have no legal training and the advice I offer is what I have learnt here and offered as a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

 

Finally if you succeed with your claim please consider a donation to consumer action group as those donations keep this site alive.

 

CARTER V Co-Op

BANK CHARGES

REFUNDED £3567

 

POMPEYFAITH V Co-Op PPI

OFFER MADE BUT REFUSED

ONGOING AND STILL ONGOING

NOW WITH THE OMBUDSMAN

 

R.I.P BOB aka ROOSTER-UK you have always been a Gent on these boards and you will be remembered for that.

 

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Jan4a,

 

Thanks for the heads up, not sure about expert though :confused:

 

PF


If I have been of help to you please feel free to click my scales to the left Thanks.:)

I have no legal training and the advice I offer is what I have learnt here and offered as a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

 

Finally if you succeed with your claim please consider a donation to consumer action group as those donations keep this site alive.

 

CARTER V Co-Op

BANK CHARGES

REFUNDED £3567

 

POMPEYFAITH V Co-Op PPI

OFFER MADE BUT REFUSED

ONGOING AND STILL ONGOING

NOW WITH THE OMBUDSMAN

 

R.I.P BOB aka ROOSTER-UK you have always been a Gent on these boards and you will be remembered for that.

 

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Pompeyfaith,

Many thanks for the reply;

the loan was to be repaid over 60 months (£138.60 monthly)

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Ok thanks for that give me 30-45 mins to prepare a spreadsheet for you in the mean time can you use the PM facility again and give me your email address so i can forward the spreadsheet to you.

 

Now you will need Microsoft Excel to open it if you do not have this you can download open office for free which will open excel docs.

 

Regards

 

PF


If I have been of help to you please feel free to click my scales to the left Thanks.:)

I have no legal training and the advice I offer is what I have learnt here and offered as a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

 

Finally if you succeed with your claim please consider a donation to consumer action group as those donations keep this site alive.

 

CARTER V Co-Op

BANK CHARGES

REFUNDED £3567

 

POMPEYFAITH V Co-Op PPI

OFFER MADE BUT REFUSED

ONGOING AND STILL ONGOING

NOW WITH THE OMBUDSMAN

 

R.I.P BOB aka ROOSTER-UK you have always been a Gent on these boards and you will be remembered for that.

 

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Hiya Greendollar,

 

Okeys all done and emailed to you, as i said in the PM any questions just post here and ill be along to help.

 

Regards

 

PF


If I have been of help to you please feel free to click my scales to the left Thanks.:)

I have no legal training and the advice I offer is what I have learnt here and offered as a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

 

Finally if you succeed with your claim please consider a donation to consumer action group as those donations keep this site alive.

 

CARTER V Co-Op

BANK CHARGES

REFUNDED £3567

 

POMPEYFAITH V Co-Op PPI

OFFER MADE BUT REFUSED

ONGOING AND STILL ONGOING

NOW WITH THE OMBUDSMAN

 

R.I.P BOB aka ROOSTER-UK you have always been a Gent on these boards and you will be remembered for that.

 

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Goodmorning,

A totally confused G/D this morning having studied the spread sheets(perhaps I should wake up first)I take it that these figures would only be relevant if the payments for the loan were made on time(which they're not)and seeing as I am still paying off the loan then I'm owed more????

Must add that alot more explaining may be needed,with no guarantee that I will ever understand,or can you just tell me what figure to put where and when???I must apologise but I'm absolutely useless with money matters which is most probably why I'm in the mess I'm in.

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