Are Capital 1 contacting customers? ***WON***

[ims21]

Hi again

 

Last two posts crossed.

 

Here is a good starting point for your research on ppi POC...

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?123886-POC-for-PPI-Do-we-have-any

 

As you are going to court have a look at the interest tutorial here...

 

http://www.consumerwiki.co.uk/index.php/Interest_Tutorial

 

Regards

 

ims

[ims21]

Hi again

 

Sorry to keep adding but I knew I had this somehere and it might be useful to you

 

http://www.consumerwiki.co.uk/index.php/PPI:_Particulars_of_Claim

 

Regards

 

ims

[gregorious77]

Hi again

 

Sorry to keep adding but I knew I had this somehere and it might be useful to you

 

http://www.consumerwiki.co.uk/index.php/PPI:_Particulars_of_Claim

 

Regards

 

ims

 

Holy moley that is hugly detailed!

I am not claiming they pressured me into the ppi but more they just added it to my account without my knowledge so most of that POC is not relevant if any!

I will do my best a writing one up but I am genuinely worried about this now as it looks a bit intense.

I can see why people use those claim it back people now, my bro in law did and got his paid back (less any interest though and 45% to the company).

[ims21]

Hi

 

Each to his own but I wouldn't want to be paying some company 45% of my money when I could do it myself and keep it all and getter a better interest rate too.

 

To get those rewards you have to put in a bit of work though but it can be worth it in the long run.

 

As far as POC is concerned, the idea of the template is that you tailor it to your needs but do be comprehensive as you want to close them down on wriggle room.

 

Regards

 

ims

Edited September 2, 2011 by ims21

[gregorious77]

I am well up for fighting this myself I will just need a lot of help I think.

I am happy to put in the effort to get it right too.

[ims21]

Good on you Greg

 

As you move forward with your POC, post up what you have and we can help.

 

Regards

 

ims

[gregorious77]

POC.docWell I have been on this all evening so far and here is what I have as a draft so far!!

[gregorious77]

Did that work?

[ims21]

Did that work?

 

Nope!

 

Try converting to PDF and doing it that way

 

ims

[gregorious77]

POC.doc

[gregorious77]

no pdf program! word worked before?

[ims21]

Try chaging the name from just "POC" to "mypoc" as POC might be a sensitive word.

 

Also are you using the "manage attachements" method from "Go Advanced" button and uploading correctly?

 

Regards

 

ims

[gregorious77]

YAY worked.

MYPOC.doc

[ims21]

Excellent.....got there

 

Looks pretty comprehensive to me but make sure your interest calcs are correct and that yo are claiming the correct level that you are happy with and at least at the rate they were charging you on the card.

 

Have you looked at a hogher rate of interest in restitution?

 

You might also need to mention the Limitatios Act and the basis for going back further than six years.

 

Hold fire before doing anything and I am going to ask one of the more legaleise to cast an eye over it as well.

 

Might be a bit slow due to it being a weekend but we will get there.

 

Regards

 

ims

[gregorious77]

I am not sending anything yet as I want to make sure it is all correct.

I am confident on the various acts etc quoted as I checked and read each one to make sure it was relevant and correct.

The interest still confuses me a little. the compound interest is correct and worked out at the APR for purchases of the card. the 8% bit I do not understand if this is added as just 8% on top of claim total or on a compound basis as well?!? there are a couple of spreadsheets but one is the one I used and the other has credit amount,payment amount and all sorts of other stuff included?

The restitution you mentioned is interesting but sounds very complicated! they cant even send a comprehensive SAR let alone reveal the amount of profit they made on my money!!

[AndyOrch]

Hi Greg

 

Ims requested I look in on your P.o.C re PPI. Have you drafted that from a template here on Cag?

Have you done a LBA ?

 

Heres some notes and guidance before you finalise your claim.

 

 

The clearest cases of mis-selling are those where customers were soldthe insurance when they had no chance of claiming on it.

• If you were not employed at the time you took the insurance - whether you were unemployed, self-employed or retired - it will be impossible for you to make a valid insurance claim.
  
• If, when you took the insurance, you had a medical problem that could have kept you from working; you should have been warned that the insurance was unlikely to be suitable for you. If it wasn't explained, you can claim.
  
• If you were sold a 'single premium' policy - where the whole cost of the loan is paid for up front with money that is also borrowed at the same interest rate as the loan - you should at least be able to get a refund by canceling the PPI. If you canceled or repaid the loan early, but were unable to cancel the PPI, then you can claim for a refund.
  
• If the refund you were offered was only a fraction of the cost you paid, you can claim to get a fair refund. If you were able to cancel the insurance, but the loan was redrawn at less favorable rates, you can also claim money back.
  
• If the entire cost of the PPI was not explained to you, or if the company only quoted the cost of the loan with the PPI attached, then you can claim.
  
• If you were told the insurance was compulsory it is likely you can claim. Lenders can insist that a borrower has PPI, but any company that signs up to the banking code must not insist you take out the insurance with them. It is far cheaper to buy it separately from an independent provider.
  
• If other important features of the loan were not explained - for example, the terms for canceling the cover or significant exclusions such as stress and back problems - then you can claim.
  
• Most policies have an upper age limit - usually 65 or 70. If you were older than the age limit for your policy when you took the insurance, you can claim.
  
• If you were sold your PPI by one of the firms that has already had FSA action taken against it, there is a good chance you can claim. Check the FSA website.
  
• If you already had alternative cover that could insure your repayments - such as income protection or an employer illness or redundancy package - but were not asked about this, you could claim.
  
• If you bought PPI to cover a long term loan there is a chance that the insurance will run out before the loan is repaid. Most PPI policies will only run for five years, so if your loan term is longer than this the seller should have explained this limitation. If they didn't, you can claim.
  

• If you have noticed you are paying for PPI that you didn't know you had there is a chance that it was added without your knowledge, or through an 'opt out' box that you missed. It will be up to the seller to prove you agreed to the insurance, so if you can't remember being asked, you can claim.
  

Regards

Andy

[gregorious77]

I drafted the POC from a template on here modified to my needs.

I have done a LBA which was refused saying I took out PPI on the phone when activating my card. no proof of this was sent in the SAR and I gave them a further 7 days to provide data showing this was true. 7 days is up and I have had no word.

I have a copy of the original application form with PPI required NO ticked and a screen dump from them showing the same on there system.

"If you have noticed you are paying for PPI that you didn't know you had there is a chance that it was added without your knowledge, or through an 'opt out' box that you missed. It will be up to the seller to prove you agreed to the insurance, so if you can't remember being asked, you can claim." best describes my case.

[AndyOrch]

:!:" I took out PPI on the phone when activating my card."

 

Never heard that one before clever things these telephones:madgrin:

 

Cast iron case then, issue the Claim from your local CC and see how they respond.(if they respond)

 

Regards

 

Andy

[gregorious77]

:!:" I took out PPI on the phone when activating my card."

 

Never heard that one before clever things these telephones:madgrin:

 

Cast iron case then, issue the Claim from your local CC and see how they respond.(if they respond)

 

Regards

 

Andy

Quote CAP1

" you later purchased PPI during a telephone conversation on 27 May 2004 when you contacted us to activate your card."

[AndyOrch]

Quote CAP1

" you later purchased PPI during a telephone conversation on 27 May 2004 when you contacted us to activate your card."

 

But of course you did, we all do, its the first thing on our minds when we ring to activate.

 

PS they have backed down on all claims i have assisted with and settled.

 

Andy

[gregorious77]

Thank you for your input, can you explain the 8% I can add on? do I add it onto the total i.e. total including compound interest is circa £3400 + 8% circa £3600 or do I add in in the same way as the compound interest? ims also mentioned interest in restitution?

[AndyOrch]

Once you have your figure (premiums paid) using the calculator will work out any compound interest.

You list the 8% within your P.o.C (not in the claim total) this is at the Courts discretion.

 

Once the amount has been calculated you can also add the actual cost of any interest (so that you're put back into the same position you would have been without the insurance) plus the 8% interest a court would give (to compensate for your loss of the money).

The provider should also consider correcting any further losses you have had as a result. For example, any resulting arrears charges or default interest from PPI making them unaffordable. If you have an outstanding debt to the lender they can use the money to pay it off though.

 

Best of luck

 

Andy

[ims21]

Hi

 

Thanks for dropping in Andy.

 

Greg, ome find the interest in restitution at the higher rate confusing as you will need to rely on the case law of Sempra Metals. Others are happy to stick with the rate that they were charging you compounded and then add the 8% statutory interest on to that which, as Andy says, is at the courts discretion.

 

The attached spreadsheet will do it for you.

 

Enter your payment date, description and amount as usual. (you might be able to copy and paste from your existing spreadsheet.

 

Change the APR rate to the rate they were charging on the card and change your personal details. These are the only cells you need to change.

 

You will see that the compund interest is calculated as is the 8%. In your claim amount you claim the charges plus compound. You mention the 8% stat in your POC as Andy says but do not include the 8% stat in the claim amount on the N1 form.

 

Regards

 

ims

 

CompoundIntPlus8(2).xls

[gregorious77]

Thank you again for all your help. I take it if it does not go to court I cannot claim the extra 8% then.

Comes out at £4995!!!

I attach this to the POC I assume but as you said only put the amount owed plus compound interest on the POC.

Edited September 3, 2011 by gregorious77

[AndyOrch]

Thank you again for all your help. I take it if it does not go to court I cannot claim the extra 8% then.Only on a successful judgment

Comes out at £4995!!! Perfect SCT then

I attach this to the POC I assume but as you said only put the amount owed plus compound interest on the POC.

and the request the 8% within the poc

but dont put it in the claimed amount on the summons.

Andy