subject acsess request - what am i looking for?

[princessrachellucy]

just wondering if you have done it yet as they have now rang and said they want me to up my payments by an extra £60 a month to pay the arrears off

[dx100uk]

one day you'll put the phone down and stop listening to these fleecers....

 

one day......

 

dx

[beyondhope]

stop answering the phone and stop calling them they can say what they like but if its not in writing it means NOTHING and that works both ways!! protect yourself and stick to writing only!!!

[princessrachellucy]

its ok i am going to try and do the letter myself

[beyondhope]

if you get stuck please shout someone will help its only been left alone as you were already offered help but as that hasnt appeared dont be afraid to post back here

[princessrachellucy]

thanks beyondhope, can i just ask: it is the insurances i am trying to claiming back isnt it or is it something different, i wasnt actually told what i needed to claim back just that they had well and truly done me over. once i know what i am claiming back i will do the letter myself. but at the moment im unsure what im asking for?

[beyondhope]

ill read through again to be sure back in 5....

 

we have all had one of those messages that we have been done over hun we will get to the bottom of it for you

[beyondhope]

yes it is the insurances you are claiming back did you ever receive the policy documents? if you didnt then the cancellation period of 30days has nothing to do with it as most are 30days of receipt of policy documents

[princessrachellucy]

great,i dont recall recieving the policy documents (would i have got them at the start of the loan when i signed up or when i cancelled all the insurances) if it was when i cancelled all my insurances that was on my account then i definetly didnt recieve policy documents) so am i right in thinking i am claiming for the ppi? i am sorry but i dont really understand it all so please bare with me, i am just trying to get my head around the whole thing as to me trying to claim some money back.

[beyondhope]

Ok quick scan read back through all of this thread and you want to reclaim all monies paid for ALL insurances from the date of inception until last payment plus 8% statuatory interest minus the £400 already rebated....I think you may find this forum helpful with reclaiming

[princessrachellucy]

beyondhope thank you so much, i will get on with this tonight when i get in from work, can i just ask you - am i claiming this back as i was missold it?

[beyondhope]

Yes and by returning £400 they have already admitted liability that it was mis sold

[princessrachellucy]

lifecare 24 = £195.00

ppi = £989.38

so i am writing them a letter asking for £1184.38 minus the £400 = £784.38

what is 8% statury on that?

does it matter that the insurances were cancelled before xmas? i still definetly can claim the whole lot of the insurances back cant i?

[beyondhope]

lifecare 24 = £195.00

ppi = £989.38

so i am writing them a letter asking for £1184.38 minus the £400 = £784.38

what is 8% statury on that?

does it matter that the insurances were cancelled before xmas? i still definetly can claim the whole lot of the insurances back cant i?

 

if they havent been claimed on its irrelevant really of when they were cancelled as you should have been properly refunded then anyway!

 

£1184.38 is total of insurances

£94.75 is total of 8% interest

 

£1279.09 is total of both

minus £400.00

 

£879.09 is what is left for them to refund

 

let someone else check those figures though

[princessrachellucy]

Great

 

Ime On It Now

 

I Need To Work This Out In Two Parts So Stay With Me

 

The Loan Is £2500 Over 36 Months At 58.15%apr

 

For Ease Ive Done The Apr At 58%

 

That Gives

 

Monthly Payment £130.28

Interest £2189.97

Total Payable £4689.97

 

now The Insurance Crap

 

 

£1184.38 Over 36 Months At 58% Apr

 

 

 

Monthly Payment £61.72

 

 

Interest £1,037.50

 

 

Total Payable £2,221.88

 

 

 

So We Add The Interest From The Loan £2189.97 With The Interest From The Insurance £1037.50 To Give A Total £3227.47

 

 

 

We Now Add Acceptance Fee To Give A Charge For Credit Of £3302.47

 

 

£2500 Loan

 

 

£1184.38

 

 

 

grand Total Repayable With Insurance Crap £6986.85

 

 

 

Devide By 36 Gives A Monthly Repayment Of £194

 

 

 

 

--------------------------------------------------------------------

 

 

 

without Insurance

 

 

 

 

That Gives

 

 

 

Monthly Payment £130.28

 

 

Interest £2189.97

 

 

Total Payable £4689.97

 

 

 

to That We Add Acceptance Fee Of £75 Gives A Total Repayable

 

 

 

 

£4764.97 Over 36 Months Gives A Monthly Figure Of £132.36

 

 

 

 

so By Not Having The Insurance Crap You Save £2221.88

 

 

 

 

 

 

 

 

 

if the insurance monthly payment was £61.72 and now i dont have any insurance's should my payments not have gone down to £130.28? they haven't so in all fairness am i right in thinking i am paying a extra £61.72 a month - surely to god that should have paid some of my 4 arrears off? can i claim for these.

[princessrachellucy]

do i mention about the interest in my letter, if i do the letter and post it on here would you tell me if it is ok to send or if any alterations need doing?

[beyondhope]

if the insurance monthly payment was £61.72 and now i dont have any insurance's should my payments not have gone down to £130.28? they haven't so in all fairness am i right in thinking i am paying a extra £61.72 a month - surely to god that should have paid some of my 4 arrears off? can i claim for these.

 

 

if indeed the insurances had been cancelled then your loan would should have been rewritten without the insurances inc in payments and the extra you have paid should come off your arrears.

 

you can only claim back the insurance payments that you have made already so that would be however many payments x £61.72 not the total of the insurances shown on the agreement as the agreement hasnt finished

[princessrachellucy]

also looking theough all this is states that my insurance was £11.84.38 and Monthly Payment £61.72

 

 

Interest £1,037.50

 

 

Total Payable £2,221.88

 

surely to god they cant put £1,037.50 interest on the insurance can they? and if they have can i claim that back aswell or not?

[beyondhope]

also looking theough all this is states that my insurance was £11.84.38 and Monthly Payment £61.72

 

 

Interest £1,037.50

 

 

Total Payable £2,221.88

 

surely to god they cant put £1,037.50 interest on the insurance can they? and if they have can i claim that back aswell or not?

 

 

Yep interest on insurances is normal as they are meant to pay the insurances up front and you pay them back so sort of like borrowing extra the interest on the insurances is incl in that £61.72 a month

[princessrachellucy]

if indeed the insurances had been cancelled then your loan would should have been rewritten without the insurances inc in payments and the extra you have paid should come off your arrears.

 

you can only claim back the insurance payments that you have made already so that would be however many payments x £61.72 not the total of the insurances shown on the agreement as the agreement hasnt finished

i am sorry but i am so confussed now, if you are saying i can only claim back the insurance payments i have paid, then i wont be able to claim back the £900 will i?

[beyondhope]

i am sorry but i am so confussed now, if you are saying i can only claim back the insurance payments i have paid, then i wont be able to claim back the £900 will i?

 

You cant claim back what you havent paid yet....you can only claim what you have paid plus 8% interest

 

so its the number of payments you have made x £61.72 + 8%

[princessrachellucy]

so the £412 rebate that they refunded me might be the correct amount: 61.72 x 9 months = £555.48 i took the loan out in the april 2007 and ended all insurances in the january, however they didnt end them untill December 2009 and i got a rebate of £412

[princessrachellucy]

You cant claim back what you havent paid yet....you can only claim what you have paid plus 8% interest

 

so its the number of payments you have made x £61.72 + 8%

ok so i get that to be £599.85 take the £400 off = 199.85

[beyondhope]

ok so i get that to be £599.85 take the £400 off = 199.85

 

 

I would put together a letter outlining the 599.85-400.00 = 199.85 still to be refunded and that fact that your payments should have been reduced or the term of the loan reduced (whichever ud prefer) to take into account you are no longer paying for insurances

[dx100uk]

but dont forget the 8% is calculated from the date EACH month you paid PPI, not the lot lumped together then add 8%,

don't sell yourself short.

 

dx