Jump to content
Night Owl

Night Owl V's Abbey PPI

style="text-align:center;"> Please note that this topic has not had any new posts for the last 3541 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Hi folks.

 

Just been doing some financial tidying! and fell on this evil loan with the Shabbey in my O/H's name.

Yes I knew about it!, just not what I can do with claiming the PPI back.

 

Doing a SAR to find out details of the first original loan. This included PPI.

The total remaining on the first loan with Shabbey was settled early when taking out a bigger second loan with Shabbey.

As far as I can make out there was no refund of remaining PPI before settling the first loan and starting the second one. So the balance was just added on and PPI added again to the total loan. Is this right?!

 

Details so far,

 

Amount of loan 2 - £13000.00

Less settlement of loan 1 - £7994.82

Balance £5005.18

 

Now I get confused with the rest.

 

Amount of PPI premium loan - £4588.48

Total amount we are lending you - £17588.48

Period of loan - 96 months (8 years) (We have paid off 4 years so far)

Total amount you must pay for the loan - £21658.56 (Including the interest shown below)

Total amount you must pay for PPI - £7644.48 (Including the interest shown below)

Total amount you must pay - £29303.04

APR 14.9%

 

We have arranged PPI for you.

Total amount we will charge you for the loan is interest of - £8658.56

Total amount of interest we will charge you for the loan to purchase PPI is - £3056.00

Total amount of interest we will charge you for the loan and PPI is - £11714.56

 

So have we taken out loan 1 with PPI, paid it off early with loan 2 and had more PPI + more interest added on top of it all?

A Loan of £13000.00 that ends up with a total to pay of £29303.04!!!!!!

 

I would appreciate any advice on this please, or just throw some ideas into the pot!

Thank you all.

Edited by Night Owl

Keep up the fight against Bank Charges.

 

 

Got Debt problems?

Don't panic, put the kettle on and read this

 

:-) Everything I write comes from my heart and head! The large filling cabinet that is my knowledge of life, however warped that may be!! :-)

 

<<< Please tickle my star!! if I have managed to help you or just made you chuckle!

Share this post


Link to post
Share on other sites

Hi Night Owl,

 

Do you have the details for loan 1?

 

What was the date of first repayment on loan 2?

 

DJ

Share this post


Link to post
Share on other sites

Hi dj.

 

No, don't have any details of loan 1 so going for a SAR for all the info.

Only got this,

Amount you owe on your Abbeyloan (once payments have been cleared) - £10389.27

Less interest rebate - £2394.45

Less rebate of PPI (if this applies - £0.00

Settlement figure - £7994.82

 

First payment on loan 2 was 10/12/06.

Edited by Night Owl
Added stuff

Keep up the fight against Bank Charges.

 

 

Got Debt problems?

Don't panic, put the kettle on and read this

 

:-) Everything I write comes from my heart and head! The large filling cabinet that is my knowledge of life, however warped that may be!! :-)

 

<<< Please tickle my star!! if I have managed to help you or just made you chuckle!

Share this post


Link to post
Share on other sites

The calculations on loan 2 are:

 

PPI repayments = £79.63 x 47 = £3,742.61

8% simple interest on monthly repayments: £718.05

 

Total claim: £4,460.66

 

Put together a letter outlining the reasons you believe the PPI was mis-sold and asking for a refund of all monies paid plus 8% simple interest on monthly repayments from date of each repayment to date Shabbey refund you. As you cannot know this date at the moment, I have used 31/10/10 for the purposes of this calculation.

 

Send the letter either recorded/special delivery and keep a copy of the receipt as proof of purchase. Shabbey will have 8 weeks to provide you with a full and final response.

 

You can either submit a claim for loan 2 now and then a separate claim for loan 1 when you have the details, or wait and submit 1 claim for both loans.

 

DJ

  • Confused 1

Share this post


Link to post
Share on other sites

Wow dj !!!! :D,

 

big thanks for that, and the calculations.

Will get a letter composed for a refund, ASAP :D

Then SAR loan 1 for more info. I will post up the info when I get it.

 

Big thanks, Night Owl x


Keep up the fight against Bank Charges.

 

 

Got Debt problems?

Don't panic, put the kettle on and read this

 

:-) Everything I write comes from my heart and head! The large filling cabinet that is my knowledge of life, however warped that may be!! :-)

 

<<< Please tickle my star!! if I have managed to help you or just made you chuckle!

Share this post


Link to post
Share on other sites

Letter to Shabby not received!! Royal Mail Tracking say it is being progressed though our network for delivery!!

That was over 15 days ago so claim form going in as the letter also included a £10 PO.

 

Waste of time.............thanks Royal Mail.

 

I sent it to,

 

Data Compliance

Abbey

2 Triton Square

Regents Place

London

NW1 3AN


Keep up the fight against Bank Charges.

 

 

Got Debt problems?

Don't panic, put the kettle on and read this

 

:-) Everything I write comes from my heart and head! The large filling cabinet that is my knowledge of life, however warped that may be!! :-)

 

<<< Please tickle my star!! if I have managed to help you or just made you chuckle!

Share this post


Link to post
Share on other sites

Night Owl,

 

Chances are your letter has been received by Shabbey and the postman has shoved it through the letter box with all the other mail.

 

Check on the royalmail website, I think you have to wait 35 days to submit an undelivered claim for the letter.

 

Personally I would hang tight and see what Shabbey come back with. As I say, they probably have received the letter.

 

DJ

Share this post


Link to post
Share on other sites

Hi dj and thanks.

 

I have already sent off a claim form for undelivered post and the postal order 'cause they say after 15 days you can send the form in for lost or undelivered post.

 

Twiddling fingers now waiting......................and waiting...................

Edited by Night Owl

Keep up the fight against Bank Charges.

 

 

Got Debt problems?

Don't panic, put the kettle on and read this

 

:-) Everything I write comes from my heart and head! The large filling cabinet that is my knowledge of life, however warped that may be!! :-)

 

<<< Please tickle my star!! if I have managed to help you or just made you chuckle!

Share this post


Link to post
Share on other sites

LOL Nightowl,

 

It does take time, but believe me will all be worth it in the end.

 

DJ

Share this post


Link to post
Share on other sites

Well.....................nuffin from Royal Mail re lost post and postal order sent to Shabby.

Claim form sent to RM 30 days ago..................now time to complain about nuffin from RM!!!!!

Nuffin on the track and trace on RM.

 

Monday morning going to try and phone RM to get confirmation of my claim form getting to them and if they can confirm if my PO has been cashed yet.

 

AND................I start this mottly business all over again and send another SAR and £10 PO to Shabby for Christmas.

 

What a complete waste of time.


Keep up the fight against Bank Charges.

 

 

Got Debt problems?

Don't panic, put the kettle on and read this

 

:-) Everything I write comes from my heart and head! The large filling cabinet that is my knowledge of life, however warped that may be!! :-)

 

<<< Please tickle my star!! if I have managed to help you or just made you chuckle!

Share this post


Link to post
Share on other sites

Just phoned Royal Mail Customer Services, probably cost me a bomb being on hold!

They sent me a letter regarding my delayed/lost post on 06/11/10................I haven't received it!!!!............it must have got lost!!!.............pure incompetence.

They are sending me a copy of their letter.

 

Phoned this number about the missing PO that was in the letter that has been lost, post #29

http://www.consumeractiongroup.co.uk/forum/showthread.php?74040-Postal-order-question&p=2671523&viewfull=1#post2671523

They told me straight away that the PO was paid into a bank on 11/11/10. It was crossed so I can only presume it has been paid into the correct bank, Abbey, until I read the letter from the RM.

They couldn't give me any further information due to the Data Protection Act.

Don't I have any right as I bought the flaming thing and sent it?.............obviously not!

 

Seriously hacked off.

 

Will have to wait for the RM letter before I progress with this now.


Keep up the fight against Bank Charges.

 

 

Got Debt problems?

Don't panic, put the kettle on and read this

 

:-) Everything I write comes from my heart and head! The large filling cabinet that is my knowledge of life, however warped that may be!! :-)

 

<<< Please tickle my star!! if I have managed to help you or just made you chuckle!

Share this post


Link to post
Share on other sites

Ok now I'm just fuming at the pure incompetence of the Royal Mail.

 

Got the letter I was waiting for this morning.

Only one minor detail.............it's about a claim I put in a year ago for lost post which was resolved last year!!!!!

They haven't even delt with my present letter yet because of their backlog of post!!!!!

 

I can only assume that Data Compliance at Shabby have my letter, as the PO has been cashed, unless proven by RM.

 

Question................do I nudge Shabby for the SAR as requested and paid for over 40 days ago?

OR....................should I wait for the RM to prove one way or the other that delivery of my SAR has been made or not?


Keep up the fight against Bank Charges.

 

 

Got Debt problems?

Don't panic, put the kettle on and read this

 

:-) Everything I write comes from my heart and head! The large filling cabinet that is my knowledge of life, however warped that may be!! :-)

 

<<< Please tickle my star!! if I have managed to help you or just made you chuckle!

Share this post


Link to post
Share on other sites

Night Owl,

 

Personally I would send the LBA on the forum as they have now exceeded the statutory 40 days given to provide the information.

 

Give them 14 days to reply and state failure to disclose the information requested will result in a complaint to Information Commissioner.

 

Good luck

 

DJ

Share this post


Link to post
Share on other sites

Hi DJ and thanks.

 

Yes..........I will send them an lba with bells on!!!

I don't want to delay things on this one longer than I need to.

 

Night Owl x


Keep up the fight against Bank Charges.

 

 

Got Debt problems?

Don't panic, put the kettle on and read this

 

:-) Everything I write comes from my heart and head! The large filling cabinet that is my knowledge of life, however warped that may be!! :-)

 

<<< Please tickle my star!! if I have managed to help you or just made you chuckle!

Share this post


Link to post
Share on other sites

Update..................lba ready to post this morning and the post arrived!!!...........big white envelope from Shabby.

 

Now I have copies of CCA for loan 1 and 2.

 

Loan 1 settled an existing loan with Abbey.

 

Date..........March 2004

 

Loan......................................£9800.00

Interest..................................£5360.32

Total amount (A)........................£15160.32

 

96 monthly instalments of £157.92 (W).................APR 12.4%

 

Payment Protection Insurance details

Monthly Premium (X)...........£157.92

(including Insurance Premium Tax at the rate applicable at the date of this agreement) 33.45

 

Total monthly payment (W) + (X)..........£191.37

First payment made April 2004

 

Printed form with payment protection insurance already filled in.

No option to request or even agree to PPI on form.

Loan 2 settled loan 1 November 2006. No rebate of Payment Protection Insurance made.

First payment of loan 2 December 2006.

 

 

Details of loan 2 as in post 1 which I find very confusing to understand. Too many figures and I don't really understand them apart from the huge figure we are paying off!!

 

Signature on the back signed by O/H and he has ticked for PPI but not sure if we really had an option. No PPI, No loan.

Again form already printed out with PPI figures.

 

Question.............LOAN 1.......from what I can make out the PPI is monthly. Does that mean we would not be entitled to a rebate because it was paid monthly? which means that we will not be able to claim back?

I still believe that it was probably not a suitable product and was not sold to us as an option......no PPI, no loan.

 

Question.............LOAN 2.......can't make head or tale of the figures!!! looks like we were sold PPI, again with little option. But not sure how it is worked out.

 

Question.............firstly .......help!!!!..........secondly can we make a claim on both of these PPI's as unsuitable products and not clear that we had any option when taking out the original loans?


Keep up the fight against Bank Charges.

 

 

Got Debt problems?

Don't panic, put the kettle on and read this

 

:-) Everything I write comes from my heart and head! The large filling cabinet that is my knowledge of life, however warped that may be!! :-)

 

<<< Please tickle my star!! if I have managed to help you or just made you chuckle!

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...