PPI on my Abbey Loan

[Bgm_co]

Hey I'd like to get started on claiming back my PPI on my Abbey loan, I have some copies of documentation I have here which I will upload jpegs of.. And I will get reading to check out the process I need to undertake in looking to claim.

 

Any help and advice would be much appreciated!!

[Bgm_co]

General Details.

 

I am self-employed running a limited Company. I've been self-employed since 2003 doing this job.

Loan is with the Abbey

I took the loan out in 2005

PPi is about £48 a month

[Bgm_co]

I found this contract, but its not signed so will request a copy from Abbey.

 

 

 

[Bgm_co]

For some reason I can't post img links so here is the list of documents I have copied.

 

001 http://i56.tinypic.com/ooktk.jpg Headed Letter

002 http://i52.tinypic.com/16awhsm.jpg PPI header Note

003 http://i56.tinypic.com/fcsksj.jpg PPI Leaflet p1

004 http://i55.tinypic.com/2ajqjhg.jpg PPI Leaflet p2

005 http://i51.tinypic.com/1zq3igi.jpg PPI Leaflet p3

006 http://i53.tinypic.com/91b5fs.jpg PPI Leaflet p4

007 http://i52.tinypic.com/2zxxe8w.jpg PPI Leaflet p5

008 http://i55.tinypic.com/5wxweu.jpg Contract (not signed)

009 http://i52.tinypic.com/5doz1j.jpg Contract (Customer copy)

010 http://i54.tinypic.com/23vj0ww.jpg Contract Terms on back

[dx100uk]

as you know what you paid PCM PPI

it should be easy to work out.

make a spreadsheet or a table in word

 

use:

http://www.egalegal.com/compoundWindow.html

 

rest = 12

 

int will be 8%

 

put in the principle [48}

date it was paid

date of you claim

then note down the 2 sums for EVERY MONTH you paid it

[the int will reduce for each month toward your claim date]

 

there is also a spreadsheet you can use

look at the stickys at the top of the PPI forum.

 

and do some reading of like threads and also the stickys like

notes for claimants

 

dx

[Bgm_co]

Where can I find the PPI letter claim templates?

[dx100uk]

there are no templates letters necessary

 

just write requesting then back with a copy of your spreadsheet.

have a look at a few other threads here for guidance.

 

dx

[Bgm_co]

I've just got in and have a letter from debt collection company saying santander have passed the loan over to them.

[Bgm_co]

are any of these templates on the first post any good to me??

http://www.consumeractiongroup.co.uk/forum/showthread.php?61081-PPI-Some-Notes-for-Claimants..

 

I am self employed and was never offered a loan with out PPI.

[dx100uk]

yep

sorry

any of those notes for claimants are worth following

 

as for the threat-o-gram....

 

ignore for now.

 

dx

[Bgm_co]

Right, I've made a bit of a cock up....

 

The agreement i posted doesn't seem to be the right one, I must of had a second one amended that I signed.

 

I feel like I might of put myself up a creek here without a paddle...

 

I need to move fast enough to get Moorecrofts threats of my back who are now acting for santander!! I still owe about 11K...

 

If I use this letter that I found on here, should it be enough to stall them so I can get a SAR out to get all my details from them?

 

__________________________________________

Here's My letter

 

I purchased the above policy from you in [Febuary2003] in connection with the [loan agreement] referenced above.

I believe that I was mis-sold this policy for the reason(s) given below, and wish you to investigate my complaint according to your normal complaint procedures.

I was not told that the insurance was optional.[/font]

I was led to believe that my application for credit would be rejected if I did not take out the insurance.

The policy exclusions were not explained to me either before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me.

I now believe the insurance was unsuitable for me as I was [self employed] at the time I took out the policy and was not made aware of the specific exclusions relating to unemployment cover.

If my complaint is upheld I require a refund of all premiums paid to the policy, plus any additional

interest

charged to me because of the PPI. I would also like to claim statutory compensation in view of the fact that I have been deprived of the use of this money.

Please now investigate my complaint within the eight weeks allowed to you.

Yours faithfully

 

And here's their reply.

 

Halifax Boffins UK.

__________________________________________________

[dx100uk]

what reply?

 

dx

[Bgm_co]

what reply?

 

dx

 

Sorry I didn't mean to copy the reply bit, I was just wondering if that letter was suitable to send for now? while I try and get the rest of my details from sending SAR..

 

My main worry is that this has already been handed over to Moorecorft, and I have paid more PPI than I actually owe in arrears.. So I want to get something to them ASAP for piece of mind..

[dx100uk]

quite prob the case

 

dont worry about moorcrap

 

no dca has any legal powers

all they can do is send threat-o-grams.

ignore them

 

dx

[Bgm_co]

Hey....

 

OK so I have had some success but still have a problem!!

 

SO... The abbey (santander) have agreed that I was not provided sufficient details when to make an informed decision while taking out the loan...

 

A. I was self employeed

B. I was told I had to have the insurance to have the loan.

 

Santander have paid back a total of £5573.39

 

Now this is where it gets stupid (in my opinion)...

My PPI claim letter sent to Santander was dated 2nd September, I was behind with payment to the total sum of about £1900 pounds and still had a remaining 11000 to pay off the loan.

On the PPI repayment it says *please note: As Your account is currently in arrears, the redredd amount will be used to reduce the outstanding arrears on your loan before the balance, if any, is paid to you.

 

So I am thinking ok they will take the £1900 out of the sum and send me the difference and I can get on paying my loan off monthly.

 

As mentioned above, on the 4th of September Santander wrote off my whole loan account and passed it on to Moorcroft debt collection.

 

I phoned Santander to ask them what was going on as I hadn't recieved any payment reference my PPI, the person said we do not own the DEBT any more and your PPI claim has bee taken off your total amount owed of 11k reducing it too £4900.

 

My argument with this guy was I was in arrears £1900 so the PPI payment should of covered the arrears and the difference sent back to me and I should be allowed to finish off paying my loan off monthly and that I should also have any marks against my credit score removed. I base this opinion on the fact that they had £5500 of my money they have just paid back me because they miss sold me the loan so really speaking was I ever in arrears??

 

In all honesty I am a little confused, can they do this, my letter was dated 2nd of september disputing the loan and they must of passed the loan off to Moorcroft on instant reciept of my letter.

 

I am happy to get the miss sold PPI back, but I would like to finish paying off my loan monthly and I would also like any marks against my credit rating corrected.

 

Can anybody help to tell me what can I do?

[dx100uk]

you need to know what the markers were

if they were non payment, then sadly that is true, no matter what you should of paid, you didn't, end of, make any payment againstg the agreement.

 

as for the passing it to the dca that now own the debt.

 

they cannot do that

you should get back the actuall ppi payments you made with money+8% stat

the rest [the unpaid [yet] ppi ] comes off the outstanding balance.

 

there is a very good barclays thread on this somewhere.

 

dx

[Bgm_co]

Hi the breakdown of the amount paid back to me was as follows.

 

A - Total monthly paid premium = 3304

B - Interest on (a) at date = 716

C - Pro Rata Rebate Figure = 2165

D - Minus PPI rebate used when loan repaid = 612

E - Rebate outstanding C-D = 1552

F - Total (A+B+E) = 5573

 

Hope this helps?

 

Basically for me, I'd like to carry on paying the remain of monthly... I deffinately can not afford to pay Moorcroft £4900, and they actually called me today

[dx100uk]

ping dj1971

 

dx

[Bgm_co]

Tried to send him a private message but his mailbox is full so wont send

[Bgm_co]

ping dj1971

 

dx

 

Cheers for help DX, managed to get a PM sent off to dj1971 tonight so hopefully they will take a look. Moorcroft are calling me everyday at the moment so I expect I will see a letter in the post soon.

[dj1971]

Bgm,

 

Dx is absolutely right, you have nothing to worry about with Moorcroft. There is absolutely nothing they can do apart from blow a lot of hot air, making empty threats.

 

Just to clarify, have Santander already paid the money to Moorcroft?

 

DJ

[Bgm_co]

Bgm,

 

Dx is absolutely right, you have nothing to worry about with Moorcroft. There is absolutely nothing they can do apart from blow a lot of hot air, making empty threats.

 

Just to clarify, have Santander already paid the money to Moorcroft?

 

DJ

 

Hey DJ, thank you for dropping in on this thread its much appreciated!!

 

So there phone calls are nothng to worry about?

 

I'll add some bullet points of info that hopefully shed some light and clarify my situation:

 

• I was in arrears of about £1900 I think. I sent my letter requesting them to investigate the PPI, the letter was dated 2nd sept
  
• When I spoke to Santander recently they said the date the whole loan was handed over to Moorcroft was the 4th sept
  
• Santander agreed to pay back PPI and interest etc
  
• I recently phoned Santander to see what was going on because I hadn't heard anything since the letter to pay back the claim
  
• The guy told me the full amount paid back had been paid off the arrears and now I only owe £4900, and that Moorcroft will be chasing becuase the debt no longer is owned by Santander.
  

[dj1971]

Moorcroft definitely nothing to worry about Bgm.

 

Just tell them you are not prepared to discuss anything over the phone when you realise it is them calling, then promptly hang up.

 

Personally I would write back to Santander and state they should not have made the full refund to Moorcroft, as all they were entitled to pass over was the amount of your arrears.

 

If they do not reply favourably by the time your 8 weeks from date of first complaint has passed, give the FOS a call and ask them to take up the claim on your behalf.

 

Not sure what they can do as the money has already been paid over to Moorcroft, perhaps some else has experience of this situation?

 

Good luck

 

DJ

[Bgm_co]

Just got this through the post....

Edited December 29, 2010 by Bgm_co
spelling

[Bgm_co]

Moorcroft definitely nothing to worry about Bgm.

 

Just tell them you are not prepared to discuss anything over the phone when you realise it is them calling, then promptly hang up.

 

Personally I would write back to Santander and state they should not have made the full refund to Moorcroft, as all they were entitled to pass over was the amount of your arrears.

 

If they do not reply favourably by the time your 8 weeks from date of first complaint has passed, give the FOS a call and ask them to take up the claim on your behalf.

 

Not sure what they can do as the money has already been paid over to Moorcroft, perhaps some else has experience of this situation?

 

Good luck

 

DJ

 

Ok thanks, are there any template letters around for this sort of issue do you know?