welcome finance ppi - ive issued a court claim!

[Dipply75]

Hi Andie, I notice they are relying heavily on that statement of price - did they include a copy for you to see (as they haven't sent you one from your SAR yet loL!) - what are the figures, and do you remember signing this?

 

(they have sent me a copy of one and I NEVER signed it, never seen it before in my life, the signature is an extremely poor forgery)

 

Any answer from Direct Group at all?

[andie_303]

Dipply,

 

Yes they did send it i'm not sure why I didn't load it up - to be honest I don't remember signing it but I think the signature is mine (or at least an v.good copy)

 

Mainly my arguement is that 1. I was not given a copy of any documents they have now produced to the court when I intially signed I was told they would be posted for me (they weren't!!) so therefore I could not read over anything afterwards once the pressure sales tactics 'you must sign now if you want your money cos we're closing' etc

Also I don't know if you can see but all that paperwork has been completed by the salesman and all I did was sign.

 

2. My preexisting medical condition would invalidate any claim I made - I have even had this confirmed by Lloyds that they would not honour any claim when I had this condition prior to the insrance starting and that most if not all insurance comapnies are the same.

 

I have scoured their suitability document and have found no mention of anything that asks about medical conditions or basically any prior knowledge you have of anything that may invalidate an insurance policy.

Surely thats grounds enough??

 

I also love the part where they say 'the claimant could have cancelled after 30 days for a pro rata refund' funny as I have been told I couldn't have a refund as I was outside the 30 day cancellation policy. and then stupidly they have acknowledged in their defence that I sent them a letter in Feb 08 - they say it asked for a balance - it did but they omit to tell the court it also asked for them to call me as I believed they had mis-sold me and that if I did not recieve a refund of all payments owed I would complain the the FSA.

 

They have acknowledged the letter - so if I could have had a refund pro-rata why wasn't this done in Feb 08? Why am I still paying it??

Something for the judge to think about

[andie_303]

Dipply,

 

Spoke with DG again today - seemed quite helpful at the start 'No Miss, we do not underwrite policies, yes we just administer them etc' then came the question 'Great! Can I get that in writing'........errr I'll have to speak with my manager about who is the best person top deal with this can we call you back!!

 

Am I a cynic to think they may be picking up the phone to a certain lender as we speak???

Even tried playing them off against WF - in the I know you're a good company it is them thats bad and I'm sorry they're lying and dragging your name through the mud....

 

We shall see what happens when and if they call back.

 

2nd email sent to Mr Hough today just asking to confirm in writing what his staff are saying etc - with a nice if Norwich Union can do it why can't you hint at the end

[andie_303]

At last a lady at DG who is willing to help...a letter is now winging it's way to me with the details of insurance policies and stating that Direct Group administer it in as much as processing any claim but are not responsible in any way more than that. I also asked (on a recorded conversation of which I'm told I can request the transcript of should it be needed) that DG do not receive money from Welcome with regard to this....interesting where is that moeny going??

[andie_303]

Looking now for a letter I can send to the inforamtion commisioner reporting welcome for not complying to my SAR - i'm going to war on all fronts now lmao

[andie_303]

bump

[andie_303]

Maths has never been my good subject so I really need some help in calculating for the courts what amount I wish to claim back for PPI

 

The total insurance costs were £1390

The interest I was charged was 51.1%

I have also reserved the right to claim the 8% the court will allow

 

i get £2268.31 but i think i've probably done it wrong can someone please clarify??

[Wilma Shoozfit]

I've been searching for credit card PPI but came across this stickie - hope it helps

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/152816-download-ppi-calculator-here.html

 

Wils

[andie_303]

hi thanks for that - but i've looked at it and am no wiser - i cant figure out what i'm supposed to fill in - i think i filled in the sheet with actual costs and ppi intrest correctly but when it comes to the next page which works out the statutory interest I'm lost - can anyone help?

 

this is the first sheet I completed - does it look like i've done it right?

£2579.67 is what i worked out i think i should be applying for on the first sheet then i have to apply contractual interest which I guess is the 8% thing a court would do but i really cannot work out the sheet

 

Loan 1Agreement No.:0Loan Details (From agreement)Actual Costs (Over full term of loan)Loan Amount £ 2,435.63 Total True Cost £ 6,850.80 PPI Premium £ 1,350.61 (A )Total Interest £ 6,850.80 Total Loan Annual Int.%42Apr%53.5Annual PPI Int. £ 567.26 Monthly Int.%3.500Total PPI Int. £ 1,701.77 25%No. of Payments36 No. of Years3Actual Costs (So far) Monthly Payment £ 190.30 Monthly PPI Int. £ 47.27 (B )No. of Months Paid to Date26PPI Interest Paid to date £ 1,229.06 Settlement (If applicable)Settlement Figure PPI Kept by Lender Settlement PPI Rebate >>>Actual Settlement £ - >>>What should be refunded* * statutory (or contractual interest) needs to be applied - go to next sheet to calculate.

 

Sorry I know i must sound thick but if someone could help i'd really appreciate it

[Guest Gordons Barking]

Use the bank charges calculator location given at the post below: http://www.consumeractiongroup.co.uk/forum/natwest-bank/184064-needed-contractual-interest-spreadsheet.html#post1980721 This is the fair use rate i.e. what you might have been charged by a bank for use of the money over the time period involved.

Add the date for each payment and it approximates daily interest. Print two copies ot the schedule one for your records and one to go with the letter, which you also keep a paper copy of. If you go to court then you add another 8%, which you calculate on another schedule. If you were paying the PPI from an overdraft (OD) there is another calculation you can use to reflect the increased cost overall of the OD. Who will watch the watchmen.

[andie_303]

thats the same link to the one i used first and i have o idea how to fill in - can someone please help a thicky in her time of need??

[Guest Gordons Barking]

Just substitute you figures for those already there. If you clear the cells you will also clear the formula that does the calculation. When all your data is in the cells delete the data remaining in the cells below. Select just the section of the spreadsheet you want to print and select - selected cells from the print options. Think of it as a learning experience ;¬)

[andie_303]

Ok - i think i got it quick question then - can I ammend the amount I have filed in court as I mis-calculated massively?

 

Thanks

[Guest Gordons Barking]

Yes, you have to pay an additional fee, look on the court website or call up your local court.

[landy_alert]

Hi Andie,

 

Many apologies for hijacking your thread, but I have also been struggling with those spreadsheets and wondered if, now you appear to have got the hang of it you could tell me if I'm doing it right, please?

 

Did you just put your PPI premium in the top space, then all your subsequent monthly PPI payments in the boxes below?

 

I have an up-front premium amount of £1685.19 and have paid 34 months at £31.59. This adds up to £2759.06. This is the figure that has come up on the spreadsheet and then there is obviously the option of adding either statutory or contractual interest on top.

 

Apologies again, but like you were, I am feeling very thick at the moment and need some reassurance that I'm doing it right!

 

Regards,

 

Landy x

[andie_303]

yes - i found it soooooo confusing and in all honesty had someone else do mine but that looks like what has been done on mine

[landy_alert]

Thanks Andie!

 

I'm still not sure about mine, as OH looked at my figs and thinks they are way too high in relation to my original loan and PPI amounts.

 

Did you get someone on here to help you with yours, if you don't mind me asking?

 

Thanks again,

 

Landy x

[andie_303]

No - I gave it to my brother and he did it - my original PPI was £1390 and it's calculated at £2579.67 and thats without 8% interest - it all depends on what interest rate you've been paying every month.

[landy_alert]

Hi again Andie,

 

Thanks so much for your help - I happed tipped your scales to say thank you!

 

A couple more questions if you don't mind?

 

On your loan agreement, does the £47.27 for the PPI say monthly repayment or monthly interest?

 

Also, is your total monthly payment £190.30 including the PPI?

 

On my agreement the total loan repayment per month is £144.08, which is broken down into £112.49 for the loan and £31.59 for the PPI.

 

Sorry, just trying to clarify this for once and for all!

 

Thanks again,

 

Landy x

[andie_303]

£47.27 is the interest and yes £190.30 was including ppi

[landy_alert]

Thanks Andie

[andie_303]

WF pictures by andie_303 - Photobucket

 

quick bump of this thread - I have added my claimants statement to photobucket so if anyone is able to have a look I was also going to but a statement of truth in aswell actually describing the whole episode as I initially filed with MCOL and as the box on the internet is really small I couldn't get all the information I wanted to use in court in - so thought if I just counter the main points of the defence and then do a statement of truth the court should get all the info.

 

All thoughts welcome and greatly appreciated - I have to post on Monday so if anyone can have a look before then I'd really thank you

[Dipply75]

Hi Andie, so sorry, been away....how did you get on, did you get anything through in the post/e-mail?

 

What did you send away on Monday?

Edited March 3, 2009 by Dipply75

[andie_303]

Hi,

 

I just sent the broad answer I have posted on photobucket along with a statement of truth basically detailing how I was sold it beginning to end and the problems I have had eliciting information for WF and the fact that I do not know who my policy is held by and if it even exists!

Trading standards solicitor told me to keep it as broad as possible - to not engage in direct rebukes of their defence that way I can get a wide leeway with the court as I have been broad (i think he means polite word for vague!! lol)

 

I indeed got a letter from DG basically saying what they told me on the phone they adminster not sell and any complaints about the policies HAVE to be dealt by Welcome and the WF should not be sending complaints to their door.

I also have requested a transcript of the conversation I had with a manger there that was very intriging when I asked if DG got any money for these policies off welcome ----> bet you can guess the answer

[Dipply75]

oh dear, they are going to have to answer big questions in court....or just not turn up again lol.

 

I notice in their defence they state the insurances were described in full.....where? The give a brief description, enought to identify it as PPI, no specific exclusions or terms, no insurer details, no keyfacts (will give you a link on this worth reading)., nothing to identify if the policy suits?

 

Their demands and needs is a waste of paper - at the bottom it also states they recommended these policies to you....to me that is sold on an advised basis. Non advised is basically saying, here is what we do, its up to you to see if it suits and you want it, and there is always a statement stating that.

 

In theirs it says they have recommended these based on your answers. Up to them to prove they actually assesed your suitability then, not just provide a bit of paper saying 'um, yeah we did'. And was the salesperson trained? Did he/she receive commission of any kind from the sale? Was it sold impartially and in your best interests?

 

So - their insurance suitability checklist lists what they should be relying on: application form (when does anyone EVER fill one in at Welcome?!)

suitability correctly assessed - they will have some evidence of this then and not just the memory of a salesperson?

policy summaries given to customer - haha

statement of price - am dying to see the figures on that. Check EVERYTHING on it, the date the quote is valid from, signature, figures, apr, interest etc.

 

LAstly, have you any concerns that they have your signature on file and can be copying it to suit? They have certainly done this with mine and my partners.