new and unsure

[davwaz]

i am concidering trying to claim back on a number of c cards and loans i have had in the past and present but have a few questions,i have 3 c cards, do i need to send a payment of £10 for each card with the request? i had a car loan with black horse finance more than 6 year ago, can i send a request to them even tho i have no paperwork or account number. only my name and address? my son bought a car a couple of years ago and the finance is in my name with black horse, i had a loan with lloyds tsb but settled it early am i still entitled to reclaim the PPI paid until the settlement?

[silverfox1961]

Hi and welcome to CAG

 

I saw your post on the other thread then came here.

 

ONE Subject Access Request per creditor not one per account

Ideally you should have each account number available to add to the SAR

 

If you are going to a creditor for details of an account that is closed and more than 6 years ago, it is highly unlikely they will be able to assist as they only have an obligation to keep paperwork for 5-6 years after closure

[davwaz]

Sars sent to mbna a few days ago, IT BEGINS !

[davwaz]

Update, i have now recieved my sar request details from mbna regarding 3 credit cards i have with them,along with all th transaction details are copies of the original agreements,on two of the applications there is no mention of ppi, yet it was applied to the cards, on the one remaining card agreement ther is a section regarding ppi and th box is ticked, this was in 2003, it was a form i recieved in th post and returned, i have the T&cs sent with my account info and cannot find anything explaining the fact you could obtain cover elswhere or that if you were self employed the cover was useless. as i was involved in a band on the club circuit and was self employed but used my main employment details on the form, is it worth claiming on this card? What proof is required as to me being self employed as this stopped in 2009.

the other two applications were filled in by reps who stopped me and quickly took my. details. also, is it advisable to claim seperately for these 3 cards or can i fill out the 3 FOS forms and post them all together

[davwaz]

Ps. i notice on the transaction details that the ppi payments become "posted credit insurance fees" , are these one and the same so i include these amounts in my calculations?

[silverfox1961]

It has been alleged that someone else may have ticked the box for the PPI

 

Your reason why it should be refunded is that you were self employed and it would never have paid out

 

i would fill out all 3forms and send them together but make sure it is sent by Recorded Delivery at the very least.

 

I would imagine the posted credit insurance fees are PPI so claim them back too.

[davwaz]

will mbna require proof that i was self employed in addition to being employed ?

i am attempting to use the spreadsheet to calculate the claim amount but am unsure as to how to go about it, the information supplied by the bank is just a printout of the transaction date, description and amount, no balance on the account, must i work out the balance on the printout as i go to be able to enter the information on the spreadsheet? i have worked out how much ppi i have actually paid and need to work out the interest to apply but i am having difficulty with the spreadsheet, what interest rate do you enter in the box which is below your name and acc number? the figures i am entering into the monthly transaction and monthly payment colums do not seem to tally, the balance does not tally with my spending and monthly payments, ive been at it for a good 3 hours and still cant figure it out, , im having to total up the money out and the payments made month by month on this printout, is this the only way to calculate the interest i should apply?

Edited March 5, 2012 by davwaz

[davwaz]

stiill confused

[davwaz]

still confused

[davwaz]

i have applied the information to the spreadsheet

[davwaz]

it has come up with some figures

[davwaz]

total paid £469.74. compound interest £66.96.. 8% simple interest £24 30. total £561.01. does this sound correct?

[davwaz]

does this look ok? this is with %8 entered in the interest rate box beneath the claimant details

[silverfox1961]

Hold on for someone who actually knows what they are talking about but to me, interest on your principal figure seems very low

[ims21]

does this look ok? this is with %8 entered in the interest rate box beneath the claimant details

 

Hi

 

If you are using the spreadsheet called FosRunningPPIv101, the interest rate you enter is the rate being charged on the card, not 8%

 

ims

[davwaz]

hi, yes that is the one i have used, will the interest rate entered need to be what was being charged at the time of taking out the card or at the current rate?

[silverfox1961]

As the interest rates have changed over time, you could enter the rates at the inception of the account and alter each one after the rates changed or try to find an amount that is nearest the rates charges and stick to that one

[davwaz]

thanks for that, ill try that and see what it comes up with,will that be the monthly rate?

well i have tried that using 3% as the monthly interest rate and have the following results ..... total cost of ppi £480.39, compound interedt £23.97 and simple interest 44.74 =£549.10

Edited March 5, 2012 by davwaz

[Jedicris]

Hi davwaz,

 

I'm very new here myself (just a few days) and have been working my way through preparing a claim. Based on that, to me, it looks as though your interest claim is very low.

 

Check that you are using an appropriate rate of interest i.e. 23.9% and that the claim date is todays date.

 

That is what I have seemed to discover and been advised of.

 

Jedicris.

[davwaz]

hi jedicris, i have never been much good with spreadsheets, i have entered the transaction dates and amounts, the payment amounts and cannot seem to get any different results, do you know if it is the monthly interest amount you put in or the apr and as far as ive seen there is no specific area to enter the date of the claim.

[ims21]

Hi

 

The interest rate to be used is the APR. On your statements you will see the rates printed there somewhere and these are the monthly rates. Use the attached spreadsheet to convert to the APR. If the rate has changed over the life of the card, use an average of the monthly rates and convert it to an APR.

 

A regulatory based award will only give you interest back that you have actually paid. On the spreadsheet you are using you enter data right up to when the card stopped, whether closed by you, terminated for some reason by them or some other reason why no interest continued to be charged (maybe you paid it off).

 

Thus there is no need for a "claim to" date on the Regulatory award spreadsheet.

 

ims

 

MonthlyToAPR.xls

[Jedicris]

Hi davwaz,

 

There are several different spreadsheets on here, all of which have been designed to meet varying needs. I would suggest looking the stickeys above for latest spreadsheets to ensure that the one you are using is the most appropriate for your needs.

 

The one I used to start with was this one: CIsheet V101 - it is fairly straightforward to use. Just enter the date of the statement and the amount of PPI in the relevant columns and appropriate start from date i.e. date account opened/date of first statement the claim to box should automatically update, (once you have enabled editing) and an appropriate interest rate. Take care to only enter data in the mauve columns and boxes

 

I hope this helps and if I've got my wires crossed I'm sure someone will point you in the right direction.

 

Jedicris.

[davwaz]

hi jedicris. the spreadsheet i am using is for a cc and requires you to enter all transactions, in and out of the account and the ppi premium, its taking a while to sort out as i need to calculate the "spends " on a month by month basis and enter the figures, its only what the apropriate interest rate to use is holding me up,

can anyone advise as to the interest rate i should enter into the spreadsheet (apr) if the monthly rate is 2.529% as i am unsure how to convert this. thanks,

just found a converter on google:-), does 34.49% sound right?

Edited March 6, 2012 by davwaz

[ims21]

hi jedicris. the spreadsheet i am using is for a cc and requires you to enter all transactions, in and out of the account and the ppi premium, its taking a while to sort out as i need to calculate the "spends " on a month by month basis and enter the figures, its only what the apropriate interest rate to use is holding me up,

can anyone advise as to the interest rate i should enter into the spreadsheet (apr) if the monthly rate is 2.529% as i am unsure how to convert this. thanks,

just found a converter on google:-), does 34.49% sound right?

 

Post #21 above

 

ims

[davwaz]

sorry ims, did not see the link when i read the post ysterday, i have applied the rate at 34% and arrived at these figures, monthly cost of ppi.....£480.39....compound interest £388.88.. simple interest £44.74.. total £914.01,,, does this sound correct? this was over a 4 year period,. thanks