EPF/HFC & Cardiff Pinnacle

[mattshaw4]

Apologies if im asking the same'ol questions, but after reading dozens of threads in multiple colours, font sizes etc... im starting to get a headache!! lol

 

After recently discovering that ive been paying for PPI for the last 4 1/2yrs, i want to get my money back!!! Will keep things in bullet form to help if peeps have answers for certain parts (& also for those looking at it in the future)

 

 

* Who do i claim from?

 

The loan was through Norton Finance, but actually from EPF, but the PPI 'is' through Cardiff Pinnacle as a single payment.

 

Spoke to HFC (EPF) on my way home only to be told that they didn't sell the PPI so cant do anything. My argument was that i never dealt with CP as certainly haven't signed anything with CP on (have both original copies of the CP docs without my signature). They didn't seem to care about this, so i gave them the benefit of the doubt until I'm able to speak to CP tomorrow. Will be cancelling the PPI for the remaining 5mnths & seeing what they say about re-claiming. (dash over £3000 for 60mnths). HFC may want to fob me of to CP.... but surely the £800+ interest on the PPI is purely down to EPF/HFC to refund?!?

 

 

* Do i need SAR if I have the original contracts from both EPF & Cardiff Pinnacle?

 

 

* Error on PPI contract

 

After digging the paperwork work out tonight to find phone numbers etc i suddenly realised that the commencing date on it was 2006.... not 2007 as it shouldve been & as shown on the loan paperwork. Does this change anything (for better or worse). Technically i should still be covered, but on the paperwork it looks like it ran out in March!

 

 

* Total reclaim amount?

 

As previously mentioned.... the PPI was a dash over £3k (less what i get back cancelling 5mnths early, if anything) & EPF charged me over £800 for the interest. Obviously i lost interest on the money they took of me. Is this what the 8% figures is that ive seen batted about? Or do i need to figure out my own interest lost??

 

 

* Where to start?

 

Ive seen alsorts on here about SARs, FoS questionairres, other templates etc.... & even as an aerospace engineer..... im confused!! IF i don't need to do a SAR, can i just send a civilised letter to the company(ies) involved?

 

 

 

Again, apologies if this has all been covered before, but couldnt find 'simply' even via searching different company names / phrases etc. After a full day staring at computers, my mind starts to do crazy things when i try & do the same at home!!

 

 

ANY help at all will be very greatfully recieved!

[dx100uk]

all in no.1. in my sig

 

whomever you are paying is who you fire off at

 

if its HFC

 

go get 'em!

 

fill out the FOS customer complaint form

 

fill out the spreadsheet at the end of the thread in no.1.

in my sig.

 

its quite simple really.

 

oh

and dont bother phoning people

 

they'll just give you the run around

as you've already found out.

 

if you have the agreement its easy

if not CCA HFC.

 

dx

[mattshaw4]

Cheers for that.... just working my way through it now mustve missed it amongst all the other stuff (woods for the trees etc).

 

Think the only thing it doesnt cover (from what i can see) is the issue with the error in the contract dates. Any advice on that?

[ims21]

Cheers for that.... just working my way through it now mustve missed it amongst all the other stuff (woods for the trees etc).

 

Think the only thing it doesnt cover (from what i can see) is the issue with the error in the contract dates. Any advice on that?

 

Won't matter....you are going to get it all back plus interest anyway

 

ims

[mattshaw4]

Ok, i dont know whether its because ive been dealing with spreadsheets all day, along with MS Project.... but i cant get my head around the whole interest owed bit....

 

From the original contract:

cash price of PPI = £3006.90.

Interest on PPI for full term = £864.30.

Have paid 54mnths out of 60.

1st payment made April 2007 (have obviously had a payment holiday or something, along with payment date changes, hence extended approx 6weeks),

will be cancelling tomorrow with immediate effect as there is no 30 day notice stated in the CP contract.

 

Is it £3006.90+864.30+8%??

That not what the spreadsheet seems to imply (i think)

 

 

OOI.... im guessing its a good thing if i didnt tick the 'i want PPI' box on the contract

& it has both mine & the creditors signatures on it (creditor signed AFTER me)

 

 

Shall be drafting the letter for EPF/HFC tomorrow during my lunch.

Should i include the questionnaire in the letter or send that to the FoS??

 

Really sorry for all the questions, your link has got a LOT of info in it!!

[mattshaw4]

ignore this.... it posted twice & my brain must be completely worn out as cant find the delete option!!

[ims21]

Hi

 

Your spreadsheet, fos questionnaire and letter go to the lender, not fos at this stage.

 

The spreadsheet works out your 8% interest. You list each ppi repayment you have actually made and you will end up with an 8% interest figure.

 

You will get back the whole premium, the bank's interest on those payments and an adjustment for the unpaid part of the ppi loan & interest PLUS the 8% that the spreadsheet shows.

 

This will put you back in the position you would have been in had the ppi not been applied and compensate you with the 8%.

 

ims

[dx100uk]

Ok, i dont know whether its because ive been dealing with spreadsheets all day, along with MS Project.... but i cant get my head around the whole interest owed bit....

 

From the original contract:

cash price of PPI = £3006.90.

Interest on PPI for full term = £864.30.

Have paid 54mnths out of 60.

1st payment made April 2007 (have obviously had a payment holiday or something, along with payment date changes, hence extended approx 6weeks),

will be cancelling tomorrow with immediate effect as there is no 30 day notice stated in the CP contract.

 

Is it £3006.90+864.30+8%??

That not what the spreadsheet seems to imply (i think)

 

 

OOI.... im guessing its a good thing if i didnt tick the 'i want PPI' box on the contract

& it has both mine & the creditors signatures on it (creditor signed AFTER me)

 

 

Shall be drafting the letter for EPF/HFC tomorrow during my lunch.

Should i include the questionnaire in the letter or send that to the FoS??

 

Really sorry for all the questions, your link has got a LOT of info in it!!

 

firstly as IMS says:

 

the stuff does not go to the FOS

it goes to HFC.

 

you CAN if you wish inc a covering letter

but you dont really have to.

 

the FOS CQ + your SOC will be enough.

 

what you need to do is calc what % of your PCM was PPI.

 

this can be done by:

 

working out the % the total PPI was of the total cost of the Loan.

 

then use that % on your PCM figure to find out how much per month was PPI

 

then all you do for EVERY MONTH

you made a payment

fill in columns A.B.C on the SI spreadsheet

 

end off.

 

dx

[mattshaw4]

Update:

 

Spoke to EPF last night, who just said that as they didnt sell the PPI they cant do anything. Spoke to Cardiff Pinnacle to cancel it, but because they didnt sell it & for some reason or other they cant cancel it. Spoke to EPF again who THEN told me who sold it (not willingly though) who is Norton Finance.....

 

Spoke to NF & i think theyre used to it now because all they said (in a downhearted tone) was, "send us a letter stating the reasons"

 

Just about done the questionnaire & will get the figures sorted tonight along with a letter hopefully.

 

Is it 8wks i need to give them to give me a response??

[ims21]

12 weeks

 

ims

[mattshaw4]

Thanks.

 

Just completing the SI & its giving me an error in 'Days Elasped' column. Its showing... =IF(A190;#NAME!(A19;NOW();"D");"") what should #NAME! be reading??

[ims21]

Are you using Excel or am I right in assuming you're using OpenOffice?

 

ims

[mattshaw4]

Ahhh , yeah OpenOffice.... had a feeling that may be it compatibility. Shall forward it on to work for tomorrow

[ims21]

Ok as you wish

 

I have an OpenOffice version if you want it.

 

Let me know and I'll post it up for you

 

ims

[mattshaw4]

If you have an OO version, that would be appreciated

[ims21]

Here you go.

 

Download it and change the file extension from .xls to .ods and you should be OK

 

ims

 

StatIntSheet1OpenOff.xls

 

 

If you have an OO version, that would be appreciated

[mattshaw4]

OK, letter written, questionnaire completed & spreadsheet completed.

 

All ready to send recorded delivery on Thursday!

 

Just one thought thats just come to mind is; the 8% extra..... is this the lost interest? or is it on top of that? I suppose the question is; is the figure from the spreadsheet the final figure i should be claiming for??

 

Sorry if it seems a silly question, but not done anything like this before & just want to make sure ive dotted the 'i's & crossed the 't's the last thing i want to happen is get stuck going back n forth with questions / figures etc etc

[ims21]

Hi

 

The spreadsheet is basically an 8% interest calculator. The 8% compensates you for your "loss" by virtue of the bank having the use of your money when in fact you should have had the use of it.

 

The ppi and the banks interest that they put on the ppi loan is claimed back essentially as a lump.

 

So as I said above, you will get back the whole premium and the interest the bank put on the loan for the ppi PLUS 8% on the amounts you have actually paid over to them.

 

If you have arrears on the account that have been notified to you then the bank can use your PPI refund to set against those arrears and the balance comes back to your pocket. Whichever way, you either get some cash in your pocket OR a reduction in the amount you owe them OR a combination of the two.

 

ims