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Capital Bank Car HP - Mastercare Insurance - HPA - PPI ?


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Ok well the first part of the T&Cs confirm she was not eligible for the cover so clearly mis-sold.

 

Claim it back with interest as with a normal PPI claim.

 

The great thing for your Nan here is that you can prove her age and you can prove when the loan was taken out.

 

I would use the expression "Game Over" for them on this one.

 

ims

 

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If you don't know when the payments were made then a SAR would be a good idea.

 

Thanks ims,

 

SAR might not be needed here, I just remembered I have SAR documents from my grans bank account, I'll check the data/figures from that!

Will post back later! Cheers

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Yep, checked my grans bank statements... Payments are there!

 

Payments of £157.28 were paid monthly..... HPA was for £131.88 monthly.....

 

157.28 minus 131.88 = 25.40

 

60 x monthly instalments of 25.40 = 1524

Insurance Total Premium = £1524 (As stated on Agreement)

 

The bad news is, the HPA was ended prematurely (9 months later) by the creditor due to the car dieing.

 

However, £228.60 of premiums were still paid and I've calculated compound interest at 16.3% of £674.49 (from 28/02/2003 to 30/07/2012)

 

So total claim just over £900 :-)

 

I'm going for Court action on this one, I think my gran is up for up providing I do all the talking should it get to hearing stage - It is clear to see it was mis-sold to a vunerable pensioner.

 

Cheers for the help!

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