Ford Credit PPI from 2003

[fernack]

Hi there

 

I am trying to reclaim PPI for my Mm from Ford credit on a finance agreement from 2003. We have the credit agreement.

Have received a reply from Ford Credit stating that they have destroyed the documentation in relation to the finance agreement as its over 6 years ago so they are not in a position to consider this complaint. This is their final response.

I am going to write back and ask that they reconsider and send a copy of the finance agreement but does anyone have some ideas on what I should write please.

 

Thanks x

[ims21]

Did you complete a fos quetionnaire?

 

Have you prepared a spreadsheet of claim?

 

Have you a record of the payments made?

[fernack]

Hi Again - we have found all bank statements showing the payments made on the car (which include an amount for the PPI). Also have original credit agreement. The loan was repaid after about six months so just trying to dig out statement showing the final settlement paid - will then need to work out if PPI amount was refunded on settlement or not. I will post figures once we have them all. Which spreadsheet do I use please? Should I challenge their final response or just go to FSO/FLa?

Thanks

Edited July 12, 2012 by fernack
sp

[ims21]

Spreadsheet is this one

 

StatIntSheet v101.xls

[fernack]

thanks

[fernack]

Hi all ..

Managed to track down some figures and hope someone can help me work them out

 

Amt of credit £6237.59

 

Charge for credit £3118.82

 

Finance facility fee £ 95.00

 

Purchase fee £ 55.00

--------------------------------------

 

Tot amt payable £9506.40

 

APR 19.7% over 60 months.

 

--------------------------------------

 

Paid initial payment of £274.72 (PPI £23.78)

then paid 5 x £179.72 (PPI on each payment £23.78) Loan settled early after these payments with a cheque for £6009.86

 

-----------------------------------------------------------------------

 

Am trying to discover if these figures work out as we have no other statements etc. Was there a rebate of PPI?

 

I am going to write back to Ford to try to reclaim the total PPI paid of £142.68 I know its not a lot but its the principle .... any help greatly appreciated.

 

Also - that spreadsheet above wont let me fill in any figures ?? Have opened it with free file opener.

 

Thanks

Edited July 20, 2012 by fernack
found another payment

[ims21]

How have you arrived at the figure for £23.78 for the PPI payments?

[fernack]

That is what is stated on the original credit agreement. Monthly Instalment £155.94 Monthly PPP Premium £23.78 + total payment £179.72. The first payment was higher as it included the finance facility fee of £95

 

Thanks

[ims21]

Ok so in the spreadsheet I linked you to, enter the amounts of £23.78 actually paid.

 

now £23.78 is 13.23% of the total payment so £13.23% of your settlement figure is PPI.

 

13.23% of £6,009.86 is £795.10 and that should be the final entry in the list.

 

The spreadsheet will calculate the 8% interest you are due on top.

 

This doesn't account for any rebate you may have had though.

[fernack]

Sorry but I am terrible with figures .... can you tell from the settlement figure paid if there was any kind of rebate based on the APR etc? thanks for help so far ..

[fernack]

Also - sorry but it wont let me fill in any details?? and when is the claim from? and what is number of days elapsed? sorry

[ims21]

"claim from" date is the date of the start of the agreement. You don't need to enter anything in the days elapsed...that is automatic.

 

Make sure you save the spreadsheet and work from the one saved to your PC

[ims21]

Sorry but I am terrible with figures .... can you tell from the settlement figure paid if there was any kind of rebate based on the APR etc? thanks for help so far ..

 

Difficult to say....the lender may be able to tell you thiis....maybe give them a quick call.

[fernack]

Difficult to say....the lender may be able to tell you thiis....maybe give them a quick call.

 

Dont think they will know as they have said they no longer have any records on this agreement as it was in 2003. Still cant open the calculator sheet - might try a different browser?

[ims21]

Re the spreadsheet I take it you are using Windows with MS Excel?

 

Don't forget you need to download the spreadsheet not just open it the browser.

[fernack]

erm .... dont think I have excel ?? its XP professional ...

[ims21]

Ok if you don't have Excel you will need to grab yourself a copy of OpenOffice from here.

 

http://www.openoffice.org/

 

It is a completely free office suite and you will be able to operate the spreadsheet

[fernack]

thank you x

 

Downloaded openoffice and spreadsheet done !! thanks x

Edited July 20, 2012 by fernack