Pompeyfaith v Co-op PPI

[alanalana]

hello Marshallka and pompey as it is your thread.

 

Just had my redress figures from the Ombudsman and mine are totally wrong too. They have failed to address the interest charged on the PPI at settlement. I have written back to the adjudicator and done a complete breakdown using the rule 78 calculator as if we never had the PPI at all and it works back to within £10 difference. I have noted to the Ombudsman that these firms are NOT redressing the loans correctly at all. I will let you know my outcome here. It it could be too late for me:eek:

 

Please tell me this is a dream. I have one settlement agreed :roll:one pending :roll:and one outstanding:roll: and the figures could be wrong:eek:

Not another 12 Months of fighting please

aa

 

[marshallka]

hello Marshallka and pompey as it is your thread.

 

 

 

Please tell me this is a dream. I have one settlement agreed :roll:one pending :roll:and one outstanding:roll: and the figures could be wrong:eek:

 

Not another 12 Months of fighting please

 

aa

 

 

Time will tell I am sure. I have challenged these redress's and am now waiting for the FOS to get back to me. Lets hope its soon but was told today by my adjudicator that he has passed my comments onto the co-op and if need be this can then go before the Ombudsman. i know this takes time but its £2300 short of my figures so cannot let it go by. Will keep you all informed when I get a reply.

[marshallka]

Pompeyfaith, I just wanted to let you know I have now accepted the figures that the co-op have quoted as I have now backed them all using the calculator for the rule of 78 here and they are spot on really. I know this is a knockback and I thought I was due more back but here it is in black and white.

 

 

Loan amount was £8100

PPI was £2588.84

Total £10688.84

Put these figures into the calculator

http://brian-stewart.orpheusweb.co.u...ualr78-prr.htm

 

I made 19 repayments of 168.52 outo of the orginal 84 repayments due

 

Put this in this calculator gives a settlement figure of £8933.90 which was exactly what is on my statements but I did not actually pay this amount as it was split between £7471.97 (my actual settlement) and 1461.93 which was a rebate against the insurance.

 

Now put in just the £8100 without the PPI and the repayments were split between £40.69 being PPI and 127.83 being against the loan so you put in 127.83 as the repayment amount and also 19 repayments as before.

The settlement comes out at £6772.13

 

The difference between the two is £699.84 and then add what we made in repayments back to that £773.11(being 19 x 40.68) and that totals £1472.95 and that is what they are repaying to me and then adding the statutory interest on to that.

 

I have three loans that are being redressed and each one is CORRECT and I am not due anything more back from them. I really thought it was more and have made a fool of myself for arguing this with the FOS:confused: but I now see where they are coming from here.

 

Just thought it was best to let you know. Perhaps you can look into yours the same. Its very simple to do..

[pompeyfaith]

Hello Marshallka,

 

Thanks for that, I will indeed check mine as you have done but I'm glad you have yours sorted.

 

Although mine is not so easy to work out as Ive had 8 loans since year 2000 some settled into the next and some settled via re-mortgage.

 

Also on some of the agreements the PPI is rolled into the loan and not listed separately as should be the case now

 

Onwards and Upwards

 

Regards

 

Leon

Edited November 27, 2008 by pompeyfaith

[alanalana]

Hello all,

 

Please have a look at this from my post 292 in this thread.........

 

alanalana PPI claim against RBS (looking for some help) please

 

The Result now reads:

 

aa 2 - RBS 0 :grin:

 

http://i435.photobucket.com/albums/q...ntfospage1.jpg

 

http://i435.photobucket.com/albums/q...ntfospage2.jpg

 

No final figures but have talked to FOS today who have stated it includes all single premiums incl the interest added (plus 8% Statutory net of tax)

 

Could be a few quid more than the first result. Still waiting for first settlement but according to the FOS such is the flood on the banks they are having trouble coping with staff they have on the retail regulatory issues:shock:

 

 

I have not yet seen figures in black and white or even a cheque which was due days ago. But the FOS were adamant that any PPI element of any loan figure would be repaid.

 

Please see my post 87 link above I beleive talking to the FOS that the repayments will be the Insurance premium plus 8% Satutory Interest from the start of the loan until Settlement, ie when I have a cheque in my hand and apparently any delays should see the 8% increase until the settlement date. I will be able to update you when I have communications from the RBS.

 

 

Keep the faith and fight for everything. Do not believe or accept what the banks tell you directly they still want to hang on to your money. Especially now with the Credit Crunch and money being tight for them.

 

aa

[pompeyfaith]

Alanalana,

 

Did you email your complaints to the FOS or did you use post, just i have the complaint form i got online but not sure if i can send it online also.

 

Regards

 

Leon

[minnimes]

hi pompey, how you been not seen you on here lately hope your ok

[marshallka]

Alanalana,

 

Did you email your complaints to the FOS or did you use post, just i have the complaint form i got online but not sure if i can send it online also.

 

Regards

 

Leon

You can download the complaints form online and fill it in and then send it by post I think. Thats what I did...

 

Let us know how you get on..

[alanalana]

Hello Leon,

 

I phoned FOS gave them some information they started filling in the form and gave me a case reference number. Following day form arrived duly completed and sent with the full bundle of correspondence between me the bank, the ICO, the FSA, the OFT and the BBA for good measure.

 

Complained in August result from FOS on two out of three complaints in November but still waiting for payment.

 

It is a pretty straightforward procedure and the FOS although inundated will try and resolve cases with adjudication which is a lot quicker than if you have to wait for the Ombudsman.

 

aa

[pompeyfaith]

Hiya Alanalana,

 

Yes i think the FOS is the route to take now in my case, I am preparing the claim form and bundle of letters sent both ways now.

 

I had another response from the UNCO-OPERATIVE BANK today which was a letter and a default notice.

 

http://i321.photobucket.com/albums/nn363/pompeyfaith/Co-opDefaultNotice.jpg

 

http://i321.photobucket.com/albums/nn363/pompeyfaith/Co-opDefaultNoticepage1.jpg

 

Not sure know what to do about these, they know the account is in dispute so surely they should of not been issued ?

 

Regards

 

Pompeyfaith

[alanalana]

Hello pompeyfaith,

 

They have decided to play hardball with you with the DN but the second photobucket clearly shows Insurance Premium Rebate of £883.73 which IMHO is a pittance of what you will have paid for PPI. I do not know the full cost of your PPI but it will be much more that £883.73 and I would suggest a substantial amount more which if reclaimed would undoubtedly reduce you loan by much more that the figure they have given you in their letter. My advice is contact the FOS bang in a complaint (they are very helpful) send all the copies of letters. statements including PPI costs etc and let the FOS take away the pain. If the FOS do not uphold your complaint you still have the option of going to Court.

 

Do you have the information on the FOS?

 

No then here is the site you need......

 

Financial Ombudsman Service

 

Good luck;)

aa

[pompeyfaith]

Thanks Alanalana should i also send the FOS a copy of the default.

 

Doi need to phone the FOS first to get a compliant number ?

 

ON the last loan only the PPI was £1,511.27 plus interest at 10.5% over 6 years

 

Pompeyfaith

Edited December 6, 2008 by pompeyfaith

[hellhasnofury]

Thanks Alanalana should i also send the FOS a copy of the default.

 

Doi need to phone the FOS first to get a compliant number ?

 

ON the last loan only the PPI was £1,511.27 plus interest at 10.5% over 6 years

 

Pompeyfaith

Hello Pompey,

 

This is rather bullish behaviour tactics by the coop. One would like to thing that they are trying to force your arm in accepting your offer, but they are not probably that clever, most default notices are computor generatered if you miss payments.

 

Whilst you are following aa good advice, please don't forget to write to the coop telling them that you have now taken great acception to their default notice warning and if they continue to haress you for payments whilst the account is in dispute, you will sue the pants off them:-x

[pompeyfaith]

Complaint bundle now on its way to the FOS i phoned them today and told them about the default notice i received they said although my complaint would have to take the queue they would contact the bank to inform them that as this case is being investigated by us the default would have to be withdrawn pending our findings.

 

So that's a result in its own.

 

Regards

 

Pompeyfaith

[alanalana]

Hello Leon,

 

Complaint bundle now on its way to the FOS i phoned them today and told them about the default notice i received they said although my complaint would have to take the queue they would contact the bank to inform them that as this case is being investigated by us the default would have to be withdrawn pending our findings.

 

So that's a result in its own.

 

Nice one Leon, The FOS are not that bad despite the delays. They have now responded to the massive additional workload. I know some cases are slow depending on how cut and dried they are but, if you case is sound the results are a lot less than 6 to 9 Months although I appreciate if it goes to the wire with the Ombudsman it will be much longer.

 

watching your thread;)

 

aa

[pompeyfaith]

FOS will have fun with this agreement none of it works out:

 

Loan Amount 5,300.00

Insurance Premium 1,260.22

Total Interest Charge 150.40 ?

Total Amount Payable 806.62?

 

59 Consecutive instalments of £34.36

and a final instalment of £34.38

 

APR 08.736 FIXED RATE OF 08.550

 

Anyone care to work that out because i cant lol

[pompeyfaith]

Seasons Greetings All

 

UPDATE

 

just to keep all updated Ive now got an acknowledgment from the FOS regarding my multiple PPI claim with the unco-operative bank complete with a case number.

 

Was also signed by a Lady with a pen which is nice makes a pleasant change from all those auto responses and letters from bank that where churned out.

 

http://i321.photobucket.com/albums/nn363/pompeyfaith/aknowledgementfromFOS.jpg

 

Still getting threats though from the bank when they know it is now in the hands of the FOS

 

Also finally finished my excel spreadsheet of PPI claim and now know why they are fighting this i must admit i was astonished at the amount of claim for 8 PPI policies Statutory £16,656.21 Contractual £20,162.57.

 

I wait until after Xmas now then decide what to do about there threat letters.

 

Merry Christmas All and Thank You for all your help in 2008.

 

Regards

 

Pompeyfaith:)

[marshallka]

Seasons Greetings All

 

UPDATE

 

just to keep all updated Ive now got an acknowledgment from the FOS regarding my multiple PPI claim with the unco-operative bank complete with a case number.

 

Was also signed by a Lady with a pen which is nice makes a pleasant change from all those auto responses and letters from bank that where churned out.

 

http://i321.photobucket.com/albums/nn363/pompeyfaith/aknowledgementfromFOS.jpg

 

Still getting threats though from the bank when they know it is now in the hands of the FOS

 

Also finally finished my excel spreadsheet of PPI claim and now know why they are fighting this i must admit i was astonished at the amount of claim for 8 PPI policies Statutory £16,656.21 Contractual £20,162.57.

 

I wait until after Xmas now then decide what to do about there threat letters.

 

Merry Christmas All and Thank You for all your help in 2008.

 

Regards

 

Pompeyfaith:)

Good luck pompeyfaith...

[pompeyfaith]

Thank You Marshallka,

 

I'm hoping 2009 will be a better year and will celebrate that fact on 31st December This site has been a great help in my battle and I have beat the ethical bank once already in 2007 with my bank charges claim so I'm certainly not giving up on this one.

 

Happy Christmas to you

 

Regards

 

Pompeyfaith;)

[pompeyfaith]

Another threat letter received today that's two in the past week my overdrawn balance is only £565.85 and £460 of that is agreed.

 

plus £380 of that i have disputed due to it being charges so as they have my complaint and the oft test case is on going they have no right in these threats.

 

I have been with this bank now for over 20 yrs and been overdrawn by a lot more that that in the past and had not one letter or phone call.

 

As the loans Ive had are linked to my current account i.e same account number plus two more figures on the end for the loans i feel they are coming on heavy due to this as in my post above the amount they owe me is a big sum.

 

Regards

 

Pompeyfaith

[pinknico]

Another threat letter received today that's two in the past week my overdrawn balance is only £565.85 and £460 of that is agreed.

 

plus £380 of that i have disputed due to it being charges so as they have my complaint and the oft test case is on going they have no right in these threats.

 

I have been with this bank now for over 20 yrs and been overdrawn by a lot more that that in the past and had not one letter or phone call.

 

As the loans Ive had are linked to my current account i.e same account number plus two more figures on the end for the loans i feel they are coming on heavy due to this as in my post above the amount they owe me is a big sum.

 

Regards

 

Pompeyfaith

 

Make sure you send copies of anything they send you to the FOS even if not directly linked. And the FSA would take a dim view of heavy handiness

and may see it as retaliating tac tics.

 

Good luck and Happy Christmas.

[alanalana]

Hello Leon,

 

Another threat letter received today that's two in the past week my overdrawn balance is only £565.85 and £460 of that is agreed.

 

plus £380 of that i have disputed due to it being charges so as they have my complaint and the oft test case is on going they have no right in these threats.

 

I have been with this bank now for over 20 yrs and been overdrawn by a lot more that that in the past and had not one letter or phone call.

 

As the loans Ive had are linked to my current account i.e same account number plus two more figures on the end for the loans i feel they are coming on heavy due to this as in my post above the amount they owe me is a big sum. This can be taken as retaliatory action and the regulatory authorites love to hear about this sort of thing as it is heavily frowned upon. You have a valid claim Co-op do not like this as it is going to most likely cost them so they come on hard with threatening letters etc etc.

I would write back and give them the facts. Any more letters and formal serious complaints will be lodged with Financial Services Authority, Office of Fair Trading and Trading Standards.

 

Regards

 

Pompeyfaith

 

I will try and cover this with several short posts as the massive post I had prepared was lost when my PC became a pain and I had to close ie7 and that is a pain to.

 

end of chapter one

 

aa

[alanalana]

Chapter two but beaten on chapter one by pinknico:D

 

Another threat letter received today that's two in the past week my overdrawn balance is only £565.85 and £460 of that is agreed.

 

plus £380 of that i have disputed due to it being charges so as they have my complaint and the oft test case is on going they have no right in these threats.

 

I have been with this bank now for over 20 yrs and been overdrawn by a lot more that that in the past and had not one letter or phone call.

I know where you are coming from with this statement. I started my account in 1974 so for me it is 38 years and PPI issues have really made me a little miffed. However it looks like another complaint to the FOS is coming up with another £450.00 fee to the ombudsman for what has just happened in the last few days. Please check out my thread.

As the loans Ive had are linked to my current account i.e same account number plus two more figures on the end for the loans i feel they are coming on heavy due to this as in my post above the amount they owe me is a big sum. This is undoubtedly the case however letters or phone calls please try using this. See below>>>>>>>>>>>>>>

Regards

 

Pompeyfaith

 

Please have a look at this link harrassment is against the Law...

 

Protection from Harassment Act 1997 (c. 40)

 

These are a couple of extracts

 

you will see the law is on your side in this:-)

 

If you get more calls just quote this regulation ask for their full name as you will start legal action against them personally under this Act.

 

England and Wales

 

1 Prohibition of harassment

 

(1) A person must not pursue a course of conduct—

(a) which amounts to harassment of another, and

(b) which he knows or ought to know amounts to harassment of the other.

(2) For the purposes of this section, the person whose course of conduct is in question ought to know that it amounts to harassment of another if a reasonable person in possession of the same information would think the course of conduct amounted to harassment of the other.

(3) Subsection (1) does not apply to a course of conduct if the person who pursued it shows—

(a) that it was pursued for the purpose of preventing or detecting crime,

(b) that it was pursued under any enactment or rule of law or to comply with any condition or requirement imposed by any person under any enactment, or

© that in the particular circumstances the pursuit of the course of conduct was reasonable. IMO none of this would apply to DCA's phone calls.

2 Offence of harassment

 

(1) A person who pursues a course of conduct in breach of section 1 is guilty of an offence.

(2) A person guilty of an offence under this section is liable on summary conviction to imprisonment for a term not exceeding six months, or a fine not exceeding level 5 on the standard scale, or both.

(3) In section 24(2) of the [1984 c. 60.] Police and Criminal Evidence Act 1984 (arrestable offences), after paragraph (m) there is inserted—

“(n) an offence under section 2 of the Protection from Harassment Act 1997 (harassment).”.

3 Civil remedy

 

(1) An actual or apprehended breach of section 1 may be the subject of a claim in civil proceedings by the person who is or may be the victim of the course of conduct in question.

(2) On such a claim, damages may be awarded for (among other things) any anxiety caused by the harassment and any financial loss resulting from the harassment.

 

Do not fear these People they are in the wrong to harrass by phone or letter.

 

Hope this is of use;)

 

Best to let them know you will not accept threats on account of your claim.

 

Letter of complaint to the Financial Services Authority. Office of Fair trading and Trading Standards would be well in order for their retaliatory stance against you which I believe is unlawful and not liked very much by the regulatory authorities. I would let them know and also let the Co-op Know the action you are taking. Not forgetting to wish them an unhappy Christmas to and Un co-operative organisation.

 

aa

 

All the best to you Leon and thanks for stepping in to help others on the forum. Keep up with the fight:D

[pinknico]

Much better put than my post aa thanks:D

[alanalana]

Much better put than my post aa thanks:grin:

 

Not necessarily better just a mile longer:D

 

Happy Christmas to you pinknico and well done on the help given on PPI forum have a great time:D:cool:

 

aa