Yorkshire bank visa ppi claim - statute barred debt ** SUCCESSFUL CLAIM **

[cleo4patra]

hoping to start a claim for PPI paid over at least 5 years on a £8k+ that I believe is SB .

 

I have statements from previous SAR for approx 5 years which is a big help - PPI ranges from £30+ per month up to £70+ per month.

 

Debt was assigned to MarlinIII who send a six monthly statement and have already admitted in writing most likely unenforceable agreement. (old application for missing prescribed terms)

 

Would appreciate any help/thoughts/pitfalls etc etc Not sure how far I can claim back and how to calculate

 

many thanks

[dx100uk]

details are below in no.1.

 

 

theres no time limit on PPI

either on the time ago the PPI was charged

or

on how many years ago it was.

[cleo4patra]

thanks for that - will readit

 

I have looked at spreadsheet

- no problems in completing it

- apart from the APR section

- my statements have varying monthly interest (cash) (purchases)

 

 

I can convert on a APR calculator but I'm not sure it's correct as a £28.00 payment from 2003 comes up as £90+ !!!!

 

many thanks for the input

 

 

details are below in no.1.

 

 

theres no time limit on PPI

either on the time ago the PPI was charged

or

on how many years ago it was.

[dx100uk]

use the purchase interest.

 

 

sorry I see this is a credit card.

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

 

ideally you should be using the fosrunning or the last one

 

 

dx

[cleo4patra]

many thanks - I will give it a go and see what figure is after I have inputted - I have checked on APR calculator and 1.653% per month is 19%ish APR - does that seem correct? the purchase interest varies as time goes on on the statements .

[dx100uk]

then use an avg. then

 

 

http://www.stoozing.com/calculator/apr-rate-converter.php

[cleo4patra]

thanks - sorry if I seem a bit thick but I think I've sorted it in my head now

- thats the site I had tried previously.

 

 

It just seems like a serious amount!!!

 

 

I will get working on it and before I actually submit it will ask for thoughts from this site and also wording for any covering letter

 

thanks again

[cleo4patra]

well - with the statements that I have and the spreadsheet and using average APR this works out to almost £7k+ . This does not wipe the debt out but not far off. Should there be 8% interest also?? thanks

then use an avg. then

 

 

http://www.stoozing.com/calculator/apr-rate-converter.php

[dx100uk]

is the account still active?

 

 

dx

[cleo4patra]

I still get a six monthly statement from MarlinIII who the debt was assigned to. No interest is added or charges.

is the account still active?

 

 

dx

[dx100uk]

you need to find the date when interest was frozen

 

 

and change your claim too date on the CISHEET to that

 

 

then take the TOTAL FIGURE from that sheet

 

 

and pop it in the statint sheet

AS ONE VALUE on the day AFTER int stopped

 

 

that will calc the 8% you are entitled too

 

 

dx

[cleo4patra]

thanks so much - I have that date in a letter somewhere in the file so i will check that and change it . Do you have link for the statint sheet please?

 

you need to find the date when interest was frozen

 

 

and change your claim too date on the CISHEET to that

 

 

then take the TOTAL FIGURE from that sheet

 

 

and pop it in the statint sheet

AS ONE VALUE on the day AFTER int stopped

 

 

that will calc the 8% you are entitled too

 

 

dx

[dx100uk]

linked the spreadsheets earlier

 

 

dx

[cleo4patra]

thanks again

 

 

sorry but this is the first time I've had to calculate this.

 

 

I have put claim from (date when interest was frozen) date to (today??)

and input the figure as one figure and I now have a figure of almost £10k???

 

 

have I done this correctly please?

[dx100uk]

sounds about right .

 

 

the principle is:

 

 

you are [very basically] entitled to interest at their rate compounded whilst they charged it.

[as that's what they did to you!]

 

 

from that date+1 day [they stopped interest], you are entitled 8% statutory interest because they have deprived you of the money you could have invested

 

 

so take the total from the CIsheet and pop it in the STATINT sheet as a lump sum on the day after they froze interest.

 

 

its worthy to note

this is a guestimate at best.

 

 

ideally the FOSRUNNING sheet should be used

and that does both for you.

 

 

I was on a small screen earlier

so ignore me

if you used the fosrunning, then end it today and ignore the 8% twaddle

the fosrunning already does it for you.

 

 

dx

 

 

that's just a best guess.

[cleo4patra]

yep - thats what I have done thanks

 

 

- so my start date for the 8% is the day after interest frozen to date of claim??

 

 

I used the simpler sheet that didn't add the 8% on FosCISheet v101.xls.

 

 

I will be submitting a claim but do I need to send SB letter first .

 

 

Also if I submit my claim to YB how can I word it bearing in mind this is SB and in essence is this an acknowledgement?

 

sounds about right .

 

 

the principle is:

 

 

you are [very basically] entitled to interest at their rate compounded whilst they charged it.

[as that's what they did to you!]

 

 

from that date+1 day [they stopped interest], you are entitled 8% statutory interest because they have deprived you of the money you could have invested

 

 

so take the total from the CIsheet and pop it in the STATINT sheet as a lump sum on the day after they froze interest.

 

 

its worthy to note

this is a guestimate at best.

 

 

ideally the FOSRUNNING sheet should be used

and that does both for you.

 

 

I was on a small screen earlier

so ignore me

if you used the fosrunning, then end it today and ignore the 8% twaddle

the fosrunning already does it for you.

 

 

dx

 

 

that's just a best guess.

[dx100uk]

as the debt is still? with YB and has not been sold?

regardless of SB status they can still offset sadly.

 

 

use the go advanced button bottom right of the msg box

and then the manage attachment button to attach the .xls files

 

 

simply remove you name/account number from the sheet first mind

 

 

dx

[cleo4patra]

it was assigned to ME III ltd with Notice of Assignment Sept 2010 "ME iii has had it assigned to it all right, title, interest, and benefit in your above account, originated by Yorkshire Bank. This means MEIII is now entitled to all sums owed under the account....." I assumed this meant it had been sold?

 

I have tried to attach spreadsheets but I keep getting "Invalid file" message

[dx100uk]

yep

 

 

good new so the whole reclaim goes in YOUR pocket

[cleo4patra]

hopefully!! to be honest it's the principle more than anything. I got files out /memory stick with copy correspondence and it's appalling - how they've tried to trick us into paying with legal threats etc.

 

I am struggling to attach excel files - any help (says invalid file)

[dx100uk]

look below right of the msg box that you type into.

 

 

go advanced

 

 

then look for manage attachments on the next screen

 

 

the files should be .xls

[cleo4patra]

I've tried that but it says "Invalid file" format is

look below right of the msg box that you type into. I think I,ve managed it!!!

 

 

go advanced

 

 

then look for manage attachments on the next screen

 

 

the files should be .xls

[dx100uk]

yep all looks ok

might be a bit inflated as ideally you should use the running sheet but see how it goes

 

 

dx

[cleo4patra]

yes I understand that but I am prepared to take the risk. Do I just send the standard letter to YB putting my reasons or do I need to send SB letter first to Marlin III . I am really grateful for the help given.

yep all looks ok

might be a bit inflated as ideally you should use the running sheet but see how it goes

 

 

dx

[dx100uk]

you need to fill this out

 

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html