PPI Newbie

[Banish]

help!!!

[ann-imal]

Hi there

 

Can you claim PPI misold if you're account has been reffered to a debt collector!!!

 

Thanks

 

Anne

[Banish]

Hi there

 

Can you claim PPI misold if you're account has been reffered to a debt collector!!!

 

Thanks

 

Anne

 

yes, but the refund will be used to pay off the arrears, before you get a penny, and the bank are fully entitled to do this.

[ann-imal]

Thats not a problem Banish (although in an ideal world it would be nice)

 

Is there a template that should be used when writing a letter regarding being missold PPI

 

Thanks in advance

 

Ann-imal

[Banish]

Thats not a problem Banish (although in an ideal world it would be nice)

 

Is there a template that should be used when writing a letter regarding being missold PPI

 

Thanks in advance

 

Ann-imal

 

check the stickies at the top of the main ppi page.

 

all the best.

[Banish]

gutted nobody has offered any help

[ozzywizard]

Banish you got my full attention . . what is it you need help with ?

Have you made claim yet ?

 

this is your loan figures :

 

total cost of goods: 14,200

optional ppi: 2,200

total loan: 16,400

APR: 18.2%

no of repayments 120

first payment made in 2004 of 295.75

 

do you want me to work out how much interest on your PPI you claim for ?

How many payments have you made ?, are you in arrears or missed payments ? do you still have PPI active or cancelled ?

 

Sorry not read your thread yet but will now, just want clarification on the above and you to know im on it.

[ozzywizard]

Lets check your figures first breaking them own to what they really are.

 

 

Your loan is £14,200 over 120 months at 18.20% APR

thats a monthly repayment of £245.33

interest £15,240.24

total payable £29,440.24

 

Insurance

 

Insurance £2,200 over 120 months at 18.20 % apr

 

interest £2,361.16

monthly payment £38.00

total payable £4,561.16

 

total interest is £17,601.40 plus loan of 14,200 is 31,801.00 plus insurance of 2,200.00 is grand total of 34,001.40 repayable is total amount repayable so we divide by 120 to get true monthly payment of 283.45.

 

This is differant to your figure you said you paid monthly 295.75 which would be total of 35,490.00 differance in their favour of £1,488.60, why is this . . . are there any other charges or anything else on the loan, can you post up the agreement to see as it may have other issues.

 

Ok for your PPI claim you need to claim for 2200 initial premium plus a monthly interest figure of £19.68 for every full payment you have made as you pay 19.68 a month PPI interest. then add stat interest at 8% per payment from date of payment to claim date.

[Banish]

ozzy - you are a true star, thank you so much for looking at this for me.

 

right i think i am almost there.

 

so did you take the loan amount, 14,200, and add the 18.2 APR for 10 years to get the final figure?

 

the rest i fully understand in terms of working the individual PPI payments and adding the 8% via the spreadsheets available.. just need to understadn the maths behind the figs.. as i am going to do this for about a dozen people and i need to learn as much as possible.

 

also, do i ask for the remaining unpaid PPI to be taken off the balance? or is that done automatically if they uphold the complaint?

 

thanks so much again!!

[rhos123]

do i ask for the remaining unpaid PPI to be taken off the balance? or is that done automatically if they uphold the complaint?

 

thanks so much again!!

 

hi , if your complaint is uhpheld then then yes any remaining ppi would be taken off the balance. you should be put back into a postion were there had been no ppi added to the loan

[ann-imal]

check the stickies at the top of the main ppi page.

 

all the best.

 

 

Dont know if I am being a little bit blonde but I cant find any

[moose73]

some letters in here:

 

PPI Reclaiming Guide: £1,000s for missold loan insurance...

[ann-imal]

HI moose, thanks for this!!

 

Just read your reply to me in a previous post

 

As you can see...........I WAS DESPERTAE!!!

 

Thanks again

[Banish]

What is the basis for saying that it was missold? If it is clear but then I would suggest a clear waring to FP and then a County Court claim.

 

is a front loaded PPI premium with added interest, enough of an argument to take a case to couty court?

 

do they generally fold when filed against, as they did with bank charges?

 

or is there a real chance i would need to prepare a proper attack for a meeting in court?

[dx100uk]

rarely do ppi refunds get that far.

 

and that after a bashing from the FOS fails. long long way off.

 

 

dx

Edited April 10, 2010 by dx100uk

[Banish]

rarely do ppi refunds get that far.

 

and that after a bashing from the FOS fails. long long way off.

 

might be an idea to see how others have gotten on with FP

 

try typing first plus PPI or WHY into our search in the blue bar above and do some reading.

 

dx

 

hi dx, i think there cannot be anybody on earth who has read as many ppi threads as me in the last month.

 

but i have never seen that question answered, it always goes unanswered.

 

and you speak of a FOB bashing?

 

so what are you suggesting mate? complaint to FP, then FOS, the Court?

 

i thought the point was to either go to FOS or court.. not both

 

could you clarify please.

[dx100uk]

no there is a chain.

 

Push the OC first for a reclaim.

expire their complaints procedure

get a letter stating 'their final response'

off to the FOS.

 

then p'haps court.

 

dx

[Banish]

no there is a chain.

 

Push the OC first for a reclaim.

expire their complaints procedure

get a letter stating 'their final response'

off to the FOS.

 

then p'haps court.

 

dx

 

ahh i see, although this is in slight contradiction to what many others post.

 

can bank fodder or anybody else from the site team clarify?

 

do we hit FOS then court.. or is it not worth the hassle with FOS and go straight to court if they dont settle within 8 weeks?

[dx100uk]

well if you skip the FOS thats your choice

however, rarely does a PPI claim ever get to court.

 

suggest you read some more.

 

dx

[Banish]

well if you skip the FOS thats your choice

however, rarely does a PPI claim ever get to court.

 

suggest you read some more.

 

dx

 

ok, well that answers the question..

 

why go to FOS, wait maybe 6-12 months.. when you can go straight to county court?

[dx100uk]

...

Edited April 10, 2010 by dx100uk
comments from op's thread not required here

[Banish]

hang on

this isn't even your thread!

 

dx

 

so have we been talking rubbish or does this not help the OP?

 

[dx100uk]

cant see it related at all.

 

i'll get these move to your existing thread.

 

seems like you've been answered every question under the sun already there too

 

dx

[Banish]

cant see it related at all.

 

i'll get these move to your existing thread.

 

seems like you've been answered every question under the sun already there too

 

dx

 

hey, why suck aggro?

 

what the problem here?

 

cool it, or dont bother "trying to help"

 

B.A

[Banish]

and if its not related, why did bank fodder respond with similar talk?

 

you have a chip on your shoulder, why?

 

have you been unsettled somehow? got something wrong?

 

gone around in a circle and started back at base point?