Yes Car Credit PPI REclaim *** Resolved***

[postggj]

Then we have to use the provisions set out in the CCA 1974 extortionate credit bargain Subsection

[ukdarrenfan]

I'm just having a read of it now. It's certainly not as clear as the unfair relationship.

[postggj]

Yes, but the unfair relationship will define the principles of the unfair credit bargain when we link the two together

[ukdarrenfan]

Thanks. I can see what I'll be dreaming of tonight!

[ukdarrenfan]

Well I'm preparing another letter before action now. I've got the HFC stuff to sort out for the FOS too, so it will probably be sent off on Monday with the updated spreadsheet. I'm giving them until 3rd July (which I think is being generous, but it gives me time to download the court forms and work out what I need for my POC)

[ukdarrenfan]

Should I just send them a straightforward letter, or reply to some of their points raised in their reply? Is it better to just play my cards close to my chest for now and let them wonder till they receive a copy of my POC?

[ukdarrenfan]

Well the letter before action has just been posted. The ball is back in their court for now. Time to start preparing my claim.

[ukdarrenfan]

I read that Yes Car Credit had their credit licence refused/revoked by the OFT. Is this true? I can't find the info to tell me when and why this happened.

[ukdarrenfan]

I've just downloaded the N1 court form and am looking through it.

 

I'm a bit confused when it comes to the interest that I'm claiming.

 

When it tells you how to work out the 8% it works out differently from the amount on the spreadsheet that I did?

 

Is there a difference between the 8% simple interest and the amount that I can claim through the court?

 

It doesn't work out as much?

[Andybars]

If it is a small difference I would go with the court methodology, as if challenged on the figure you can demonstrate that it is correct using their approved methodology.

 

I think the difference is due to rounding of figures

[ukdarrenfan]

The difference is over £500.

[Andybars]

Which suggests that it is clearly not a rounding issue ! If you are able to upload your spreadsheet (minus any personal info that would identify you or the account) I'm happy to have a look

[ukdarrenfan]

Here is the attached spreadsheet. I had to change the amounts of the PPI to reflect the fact that they took the deposit from the insurance payment and not from the price of the car (all explained on Page 1 of this thread, where I also uploaded my agreement)

[Andybars]

These figures look fine to me - I think the discrepancy is probably that using the court calculation suggested method only allows you to charge interest from one date i.e if you use the last payment date of 11 April 2006 the figure is under by just over £510 at £1,851.34, if you use the first payment date of 13/5/2002 you get a figure almost £500 over at £2,853.45

 

Your figure is accurate, the issue is getting it into the court calculation. The practical issue is to split the calc into two parts - i,e the figure including interest at 11/4/2006 is £A (use your spreadsheet with 11/4/2006 as e claim date)- to which interest at x pence per day totalling y (2640 days at x should be added) giving you an overall figure. I am not an expert on the court forms so somebody on one of the legal forums is likely to be far better placed as to how you transfer this information to an acceptable format on the N1 form - hope this helps

[ukdarrenfan]

Thanks. Out of interest, are the court fees based on the whole amount that you are claiming (ie with the interest added) or without. There is a huge difference in what I will have to pay otherwise!

[Andybars]

The court fees are unfortunately based on the total amount claimed (at the date of claim) - which puts you into the pricey £5,000.01 to £15,000 bracket

[ukdarrenfan]

I thought that might be the case. Only just over £5000 if the interest is calculated differently and it's over double the fee!

[ukdarrenfan]

Well I received a reply to my Letter before Action and it is just as snotty as the first one. I've attached a copy of my LBA so that you can see the points I raised in reply to their letter and also their reply. OK...bring it on.....

 

I still don't understand the point that they make concerning the disclosure of commission. Even when they say 'and as such the agency was disclosed to you', what do they mean?

[postggj]

ukdarrenfan

 

i have a nice letter to dig out to explain the allocation of deposit against the insurance products, how it prejudices the 50% termination point, interest rate and total amount payable is misstated with the relevant sections of the CCA 1974

 

I will dig it out over the weekend, it will give me a chance to transfer it onto my mobile hard drive

 

This allocation against the insurance crap scares the hell out of them, Godebt purchased a load of turkeys over this

 

This time we hit them with statutory obligation, lets see them rebuff that

[ukdarrenfan]

ukdarrenfan

 

i have a nice letter to dig out to explain the allocation of deposit against the insurance products, how it prejudices the 50% termination point, interest rate and total amount payable is misstated with the relevant sections of the CCA 1974

 

I will dig it out over the weekend, it will give me a chance to transfer it onto my mobile hard drive

 

This allocation against the insurance crap scares the hell out of them, Godebt purchased a load of turkeys over this

 

This time we hit them with statutory obligation, lets see them rebuff that

 

Thanks. I look forward to seeing that letter

[ukdarrenfan]

Did you manage to find the letter?

[ukdarrenfan]

I am trying to write my particulars of claim but it's getting really confusing and I could do with some help.

 

Do I need to mention that the agreement with DAFS was a multiple agreement, as they told me in their letter?Should I use Section 56 of the CCA as a reason? What about the misrepresentation Act?

 

I've done this before when taking someone to court, but I've never had to use legal arguments and I don't want to get it wrong.

[ukdarrenfan]

Can anyone take a look at what I've written so far and suggest anything? I know that I need to put in the legalities but I'm not sure where and how. Anything I should add in? Take out?

 

I've seen that one of the first things they do is apply for the case to be struck out for being time barred. Do I pre-empt this by mentioning Section 32 of the Limitations act so they can't waste more time?

Edited July 9, 2013 by ukdarrenfan

[ukdarrenfan]

Can't believe that I never saw this little nugget of information in my SAR. I've been so busy looking at all the small print that I didn't see this right in front of my nose! It's an invoice for the car, showing the deposit being taken off the car. It shows the amount due as something totally different to on the main invoice.

[paulnavy]

hi can anyone help me? I have started a ppi claim against yes car credit. Iv sent a letter with a 10 pound postal order asking for a copy of all the information they hold on me with. After about six week I received a disc with every thing on it along with a letter with instruction on how to decript the disc. This all has the yes car credit logo on it. I then sent them the questionnaire explaining my complaint. Another six weeks past and I received a letter from Santander Consumer Finance saying they had investigated my claim for ppi and had no record of me. Can anyone please tell me if A) yes car credit/Provident have now been purchased by Santander now and B) if the have been purchased by Santander are the stupid.