Jump to content


  • Tweets

  • Posts

  • Recommended Topics

  • Our picks

    • If you are buying a used car – you need to read this survival guide.
      • 1 reply
    • Hello,

      On 15/1/24 booked appointment with Big Motoring World (BMW) to view a mini on 17/1/24 at 8pm at their Enfield dealership.  

      Car was dirty and test drive was two circuits of roundabout on entry to the showroom.  Was p/x my car and rushed by sales exec and a manager into buying the mini and a 3yr warranty that night, sale all wrapped up by 10pm.  They strongly advised me taking warranty out on car that age (2017) and confirmed it was honoured at over 500 UK registered garages.

      The next day, 18/1/24 noticed amber engine warning light on dashboard , immediately phoned BMW aftercare team to ask for it to be investigated asap at nearest garage to me. After 15 mins on hold was told only their 5 service centres across the UK can deal with car issues with earliest date for inspection in March ! Said I’m not happy with that given what sales team advised or driving car. Told an amber warning light only advisory so to drive with caution and call back when light goes red.

      I’m not happy to do this, drive the car or with the after care experience (a sign of further stresses to come) so want a refund and to return the car asap.

      Please can you advise what I need to do today to get this done. 
       

      Many thanks 
      • 81 replies
    • Housing Association property flooding. https://www.consumeractiongroup.co.uk/topic/438641-housing-association-property-flooding/&do=findComment&comment=5124299
      • 161 replies
    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

      Please note that a recent case against UPS failed on exactly the same issue with the judge held that the Contracts (Rights of Third Parties) Act 1999 did not apply.

      We will be getting that transcript very soon. We will look at it and we will understand how the judge made such catastrophic mistakes. It was a very poor judgement.
      We will be recommending that people do include this adverse judgement in their bundle so that when they go to county court the judge will see both sides and see the arguments against this adverse judgement.
      Also, we will be to demonstrate to the judge that we are fair-minded and that we don't mind bringing everything to the attention of the judge even if it is against our own interests.
      This is good ethical practice.

      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.

       

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

HBOS PPI reclaim


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4118 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

  • Replies 157
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Right so I just put into the date of charge....the date that money was debited from his aCCOUNT.....IN THE AMOUNT OF CHARGE THE ACTUAL FIGURE AND DO THIS FOR LOAN 1 until REPAID...THEN IN THE SAME SPREAD SHHET FOR LOAN 2 AND 3 AND JUST ADD THE TOTALS IS THAT CORRECT

Link to post
Share on other sites

a..ok....so for

loan 1-£5000,... there are

12 re-payments of £200.32

1 re-payment of £3,844.15

1re-payment of £343.59

 

Loan2..£10,000...there are

23 re-payments of £244.21

1 re-payment of £7,362.26

1 re-payment of £721.12

 

Loan3.£15,000...there are

9 re-payments of £366.34

1 re-payment of £14,110.04

1 re-payment of £2,107.47

 

The above figures are input in order across the row and separately down each column...but where do the APR's figure especially when loan 1 is at 15.9%...loan 2 at 8.9% and loan 3 at 7.5%....and how do you do the 'rollover'

Link to post
Share on other sites

No

 

You are only interested in the PPI element

 

For example, loan one the ppi is 13.62% of the total loan (£788.62 / £5,788.62 x 100) so 13.62% of each repayment made is for PPI. So for loan 1 you only enter 13.62% of each payment made.

 

You din't enter anything for the final settlement figure for loan 1, you work out what 13.62% of the settlement figure is. This is the amount that is rolled into loan 2 so then you have to work out what percentage that rollover figure is to the loan 2 total figure and apply that to the loan 2 monthly payments. You also work out what percentage the loan 2 PPI is to the total of loan 2 and enter those percentages of repayments as well.

 

Work through it stage by stage using Amanda's thread as a guide.

 

Link to post
Share on other sites

Got it...I take the proportion of PPI as a fraction/percentage of THAT loan and just work it downwards alongside it's respective debit dates.....the ONLY thing that changes is the percentage of THAT loan and then collect as a running total....is that correct?

Link to post
Share on other sites

thanks ims for all your help...I now have an understanding in my mind of THAT proportion of ppi to be calculated and 'distilled'' from loans 2 and 3 and the 'rolled' over...i.e that percentage of the total loan expressed as a figure...NOT the repayment figures as they are...

 

This can ALL be done on the same spreadsheet....indeed it SHOULD be..the only thing to watch out for is the proportion of PPI in that settlement figure to 'rollover'(ADD to) the proportion 'distllled' from Loan 2...and so on...GOT IT!!!

 

I shall now read Amanda's thread again because I will now understand the principle and actually see it in motion..

 

The penny appears to have dropped...

 

Many thanks for your patience..:behindsofa:

 

:-)

Link to post
Share on other sites

Thanks you and dx100 have been brill!!!.

 

 

 

just a point of clarification before I start...in the figures below...to take an example...

 

 

Original Loan 1

Date Funds Issued -14.02.01

No signature in PPI box

Amount of Loan -£5000

Repayment Period -36 months/3yrs

Total Charge for Credit for cash loan-£1,229.08

Total amount you pay for cash loan-£6,229.08

INSURANCE LOAN(cash price of insurance)-£788.62

Total charge for credit for insurance loan-£193.82

Total Amount you pay for Insurance Loan-£982.44

Repayments at 36 monthly intervals of total loan and interest of-£202.32

APR-15.9% FIXED

Insurance Premium Tax-£33.67

Monthly Interest Rate-1.240%

TOTAL LOAN-£5,788.62

Total Charge for credit for TOTAL LOAN(total charge for credit)-£1,422.90

TOTAL AMOUNT YOU PAY-£7,211.52

STATE OF ACCOUNT-REPAID EARLY

BALANCE-NIL at-05.03.02

SETTLEMENT DATE-14.03.02

Question-is ppi still running because loan was paid off early...also is there any rebate for this loan.

 

 

Why is figure divided into NOT the sum of..

 

INSURANCE LOAN(cash price of insurance)-£788.62

Total charge for credit for insurance loan-£193.82..BUT only...£788.62(cash price)...

 

£982.44/£5982.44x100

 

i,e instead of 788.62/5788.62x100 ......788.62+193.82/5788.62+193.82 and then multiplied by 100

 

thank you

Edited by means2anend
Link to post
Share on other sites

The total loan including interest

 

Original Loan 1

Date Funds Issued -14.02.01

No signature in PPI box

Amount of Loan -£5000

Repayment Period -36 months/3yrs

Total Charge for Credit for cash loan-£1,229.08

Total amount you pay for cash loan-£6,229.08

INSURANCE LOAN(cash price of insurance)-£788.62

Total charge for credit for insurance loan-£193.82

Total Amount you pay for Insurance Loan-£982.44

Repayments at 36 monthly intervals of total loan and interest of-£202.32

APR-15.9% FIXED

Insurance Premium Tax-£33.67

Monthly Interest Rate-1.240%

TOTAL LOAN-£5,788.62

Total Charge for credit for TOTAL LOAN(total charge for credit)-£1,422.90

TOTAL AMOUNT YOU PAY-£7,211.52

STATE OF ACCOUNT-REPAID EARLY

BALANCE-NIL at-05.03.02

SETTLEMENT DATE-14.03.02

 

Link to post
Share on other sites

THIS IS THE WRAP UP!!!

by Courtesy of ims21

 

 

My loan did have a Single Premium PPI included so what do I claim?

 

Basically you claim back what you have actually paid out for the PPI, including the interest the bank charged on the PPI part of the loan plus further interest as compensation.

In respect of your interest claim, what interest level you claim will depend on which route you intend to follow to get your money back.

 

The initial approach is always to the lender but if they fail to uphold your claim there are two routes open to you.

 

You can pass the case over to fos or you can sue in court.

 

Fos would award a refund of all PPI payments paid, the interest charged on those payments by the bank plus 8% statutory interest on each of the payments.

 

With the court route you open the door to being able to claim higher rates of interest in restitution which again is beyond the scope of this article.

 

Claimants would do well to read the CAG Interest Tutorial for more detailed information on interest.

 

 

My loan was for £8,000 and the bank added PPI of £626 so my total loan was £8,626. My repayments were £363 per month. How do I know what the payment relating to PPI was?

 

You simply use percentages to work out what the amount of PPI repayment was. In this case the formula is £626 divided by £8,626 and the result multiplied by 100. (626/8,626 x 100) = 7.26%.

 

So we now know that your PPI was 7.26% of the total loan. Accordingly 7.26% of each of the monthly repayments was for the PPI part of the loan and 7.26% of £363 is £26.35. So each month you were paying £26.35 towards the PPI loan.

 

You then use the spreadsheet to calculate your claim. See later for details on the spreadsheet

 

 

My loan included Single Premium PPI and I paid the loan off early with a lump sum payment. I didn’t get any rebate on the PPI.

 

In this case you would still have paid the total PPI premium which was put on your loan to start with. For the monthly payment up to the date of settlement you work out the percentage of PPI on a monthly basis as described above. When you settled the loan with a lump sum, the same percentage is used to find out how much of that settlement figure was for the PPI part of the loan. You enter this final amount of PPI payment as the final item in your spreadsheet list.

 

See later for details on the spreadsheet.

 

Hi ims...in relation to the highlighted words ONLY...

 

for example in the above illustration in post 122 the ACTUAL settlement figure was £3,844.15 and £343.59 BOTH on 05.03.02...

 

so would I need to total those 2 figures and treat as one settlement figure...then multiply by 13.62% and ADD that figure to the next Loan2 on the SAME spreadsheet and the same PROCESS for Loan3...

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...