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      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
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HSBC Loans


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Apologies but I need to resurrect this and get the claim for mis-sold PPI in to HSBC ASAP.

HSBC have 3 CCJs against us and we have just received a B132 Notice from the Land Registry.

Although there is an existing thread I would like to start a new one as the figures have changed.

 

I also intend to claim back the back charges and interest that have been applied to our current account as a direct result of the mis-sold PPI. i.e. if the mis-sold PPI payments had not been taken from our account then we would not have exceeded our O/D limit and incurred charges and interest. I believe that this is what a court would call, "Restoring us to the financial position that we would have been in?"

 

Details to follow:

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no doesn't work like that UNLESS it was JUST the PPI payment that was causing the issue , then you can after reclaiming.

 

you REALLY should have sorted these issues before.

 

look on the FOS website

 

lots of info there inc the PPI complaint form.

 

get an SOC done too and then fire thm off at HSBC.

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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I was mis-sold a personal loan on 30th November 2004 to clear our joint bank account overdraft:

 

Principal Loan "in my name"

Personal Loan

 

Amount of Loan £3250.00

Total Charge for Credit £1284.24

APR 14.9%

Total amount payable

under this agreement £4534.24

 

Repayment

 

Initial repayment £75.02

Date of 1st repayment 1st January 2005

59 further monthly payments of £75.58

on the same day in each

month thereafter

 

Credit Protection Insurance

 

Amount of Premium £816.62

(including Insurance Premium Tax at the appropriate rate)

Amount of Loan £810.00

Total Charge for Credit £320.07

Total Amount payable

under this agreement £1130.07

 

Repayment

 

Initial repayment £19.10

Date of 1st repayment 1st January 2005

59 further monthly payments of £18.83

on the same day in each

month thereafter

 

27th July 2006 my loan

Outstanding balance of £3221.20 paid off by provision of new loan in my partner's name

Loan Protection Refund of £348.07

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Thanks dx

 

It was mostly bank charges that kept pushing us over our O/D limit. Plus some PPI....

 

I suppose we've lost that one...

 

I suppose I could either hang myself or try and get something back....

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IF the 19 PPI payments that I made on the loan before it was settled had not been debited to my account then I WOULD not have gone overdrawn.

 

1 x 19.10

18 x 18.83

= £358.04

 

So surely if during that time I went overdrawn by £15 and incurred charges of £50 which made me overdrawn the following month etc etc I should be able to reclaim them?

 

(Apologies if you have all been over this many times.)

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Hi there dog (don't want to call you smelly!)

 

as dx says, it doesn't quite work like you're hoping.

 

However, we know that the ppi can come back plus interest so that would help your finances a little so I would concentrate on that.

 

On the other side of things I think you're saying that because you would not have gone overdrawn had the ppi not been paid, the excess charges would not have been added and there would have been no ccj. I assume you want to look at getting the ccjs overturned.

 

I think you'll have a fight and a half on your hands personally because not only have you got to show that the extra charges are unlawful and then you have the next battle to get the ccjs overturned. Personally I don't think you'll succeed. Others may disagree.

 

ims

 

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gloosed over the ccj's..huh going blind

 

i take you must have been aware the ccj's were being taken out?

 

did you defend?

 

did you do anything your way regasrding the ccj's?

 

or did you just play rollover dog and let them drill them through?

 

more of the story please

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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I'm struggling to make any sense of the figures that I have.

 

30/11/04 £4060 paid into my account after I took out a loan for £3250 plus PPI plus interest as above.

Same day £816.62 paid out for insurance premium.

 

04/01/05 1st repayment of 94.12

then 18 further payments at the beginning of each month of £94.41

 

So in total I paid off £1,793.50 of which £358.04 was PPI.

 

Then when the loan was paid off on 27/07/06 they refund me £348.07 PPI

 

How does this leave a balance of £3,221.20 ????? which was the amount to pay off the loan we borrowed another £8,500.00 plus £2,010.00 PPI plus interest on 27/07/06

 

How much should I be claiming for on the intitial loan? Allowing for the fact that they refunded me part of it?

 

Thanks

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Thanks ims and dx.

 

Yep. I'm ****!

 

In my defence I have a Father who is suffering with Liver Failure; a Father In Law who is incapacitated with a stroke; three children and being self-employed am struggling to find work (like a lot of people.)

 

My partner seemed to think that if we let the debts go to court then at least they wouldn't grow.

 

I was under the impression (possibly deluded) that I could claim back some or all of the charges on our aco**** on the back of the mis-sold PPI.

 

I looked at challenging the first ccj but missed the deadline by one day.

 

So I guess I am **** and stupid.

 

Nevertheless I am trying to salvage something from this.

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I am attempting to calculate how much I should be claiming for using the following information.

 

http://forums.moneysavingexpert.com/showthread.php?t=1596473

&

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/redress.html

 

But I am getting confused...

 

Can anyone help please?

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Hi SD

 

There's enough in your previous posts for me to have a look at the figures and do some calculations for you so don't worry about the PM at the moment. Let me report back and then we can all see where we go from there.

 

Regards

 

ims

 

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Details of 2nd loan:

 

27th July 2006 my loan

paid off by new loan sum of £3221.20

Loan Protection Refund of £348.07

Principal Loan in my partner's name

Personal Loan

 

Amount of Loan £8500.00

Total Charge for Credit £2880.14

APR 11.9%

Total amount payable

under this agreement £11380.14

Repayment

 

Initial repayment £189.61

Date of 1st repayment 1st November 2006

59 further monthly payments of £189.67

on the same day in each

month thereafter

 

Personal Loan Protection Plan Loan

 

Amount of Loan £2010.00

(including Insurance Premium Tax at the appropriate rate)

Total Charge for Credit £681.10

Total Amount payable

under this agreement £2691.10

 

Repayment

 

Initial repayment £44.95

Date of 1st repayment 1st November 2006

59 further monthly payments of £44.85

on the same day in each

month thereafter

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As a rough guide we made continuous payments on the 2nd loan until 1st July 2010.

 

I will go through my statements and calculate exactly when the payments were; when they stopped; when the PPI was cancelled and when the loan defaulted; when the loan went to court etc.

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Hi SD

 

OK, lets deal with loan 1.

 

Cash Loan is £3,250, PPI Loan is £810 so total loan £4,060. PPI is 19.95% of total loan (810/4040 x 100).

 

Your actual payments are easy, 1 of £19.10 and 18 of £18.83. You can enter these 19 payments in the spreadsheet I've attached at the end of this post.

 

The settlement figure of the loan was £3,221.20. the ppi part would be 19.95% of this balance i.e. £642.62. against this you had a rebate of £348.07. Take one from the other and you end up with the overpayment of PPI hich was rolled into loan 2. 642.62 - 348.07 = £294.55. So of loan 2, an amount of £294.55 is paying off the ppi on loan 1. When we know the full data for loan 2 as in your above post, we can work out the claim for loan 2.

 

With regard to the attached spreadsheet, you only need to enter data in columns A (Date of Payment), B (Nature of Payment i.e. ppi premium) and C (Amount of payment). You only do this for the 19 payments actually made. The spreadsheet will calculate the 8% Statutory interest for you. Also you need to amend the blue section at the top to include your personal details.

 

ims

 

 

StatutoryInt.xls

 

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2nd Loan in name of my partner:

 

1st Payment of £44.95 on 1st November 2006

then further 44 payments of £44.85

 

Total of £2018.35 paid.

 

Last payment 01/07/2010

 

August payment 2010 reversed due to lack of funds.

 

PPI cancelled shortly afterwards (by the bank) and loan defaulted after that.

 

Same question as above.

 

Do I also add in the £2010.70 Premium debited from my account on 27/07/06 when the loan was setup?

 

Thanks

 

SD

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Only just had time to do this.

 

Do I put £810 into the Spread-sheet too?

 

Hi SD

 

No you don't put the £810 in the spreadsheet. You just put the monthly amounts paid

 

ims

 

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2nd Loan in name of my partner:

 

1st Payment of £44.95 on 1st November 2006

then further 44 payments of £44.85

 

Total of £2018.35 paid.

 

Last payment 01/07/2010

 

August payment 2010 reversed due to lack of funds.

 

PPI cancelled shortly afterwards (by the bank) and loan defaulted after that.

 

Same question as above.

 

Do I also add in the £2010.70 Premium debited from my account on 27/07/06 when the loan was setup?

 

Thanks

 

SD

 

Hi SD

 

I'll have a look at loan 2 tonight and post back later

 

ims

 

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