Query about old HFC/Beneficial Finance Loan with PPI ** SUCCESS **

[ims21]

Mobile phone or camera?

[Foebane72]

Whoops, totally forgot about my camera!

 

Right, I've taken a picture of the first statement in the papers and blanked out my name and account number.

 

But can't I just put the picture up on my Photobucket account and link the image to a post here? Why go through the convoluted PDF path, if you just want to see the statement?

[Foebane72]

HFC-1.pdfHere's the PDF of the statement, attached.

[Foebane72]

Does that help?

[dx100uk]

yes it shows you paid ppi that month

 

so your reclaim is easy peasy..

 

me thinks this was not a 'loan' but what me and ims had

a 'current account plus'

 

where by it was a bank account with a credit limit

 

the ppi was a % of the outstanding monthly balance.

 

so you just need to fill in an SOC [spreadsheet]

 

with ALL the monthly payments date/ammount/reason

 

FosRunningPPI v101.xls

 

 

dx

[Foebane72]

Thank you, DX.

 

So, applying the first statement that I provided to the spreadsheet, I would have to enter the following into the PERSONAL DETAILS box:

 

CLAIMANT NAME: My name as shown at the top of the statement, I suppose

LENDER NAME: HFC Bank

ACCOUNT NUMBER: Self-explanatory

INTEREST RATE: Where do I get that from? There's three of them mentioned below the balance - which one?

 

And on each line of the spreadsheet, using the above first statement as an example, I enter:

 

STATEMENT DATE: 17/01/2005

MONTHLY SPEND: 14.93

MONTHLY PAYMENT: 57.00 (Payment received?)

PPI PREMIUM: 14.93

 

Is that all correct?

[dx100uk]

19.9% [retail purchase]

 

monthly payment is payment due [assume you paid it ] - yes.

[Foebane72]

You're saying that "Monthly Payment" is "Minimum Payment - due by ...." on the statements ??

Or is it "Payment Received - thank you" on the statements?

I'm not clear on that.

 

Also, there's another problem:

 

When I was transferred to the "fixed sum loan agreement" with fixed repayments and 0% APR, it seems the original account with the PPI on it was not closed. The statements continue for this older account up unto the present day, but the figures on it have not changed since a few months after the fixed sum agreement was set up on 11/08/07 (signature date).

 

I think a few more photos are in order. Just let me know what you need.

[dx100uk]

where a statement shows you paid PPI

 

fill the spreadsheet in.

 

when the PPI stops

you stop the SOC there.

 

you will then have a total figure for PPI [TOTAL box in bold black]

 

then take that figure

 

and put in in this

 

StatIntSheet v101.xls

 

SOC to calculate the 8% stat int owed.

 

use the date of last PPI payment

 

dx

[Foebane72]

Thanks again, DX, although I posted the following in my last message:

 

You're saying that "Monthly Payment" is "Minimum Payment - due by ...." on the statements ??

Or is it "Payment Received - thank you" on the statements?

I'm not clear on that.

 

Which one was it again? Your last post didn't address that.

[dx100uk]

what you actully paid that month PPI was levied

dx

[Foebane72]

FosRunningPPI v101.xls

StatIntSheet v101.xls

 

Thanks, DX.

 

I've filled in both spreadsheets, double-checking the figures, but I'm wondering if I've done it correctly.

 

Please find attached what I've typed in, minus my name and account number.

[ims21]

The StatIntSheet should only have one entry in it and that is the value of the claim per the fosrunning sheet. The claim from date on the statintsheet is the last date on teh fosrunning sheet. Claim to date is now

[Foebane72]

OK, Ims21, I've made the changes. Here's the new StatIntSheet:

 

StatIntSheet v101.xls

 

I'm not sure about the Date of Charge or Description - do I have those correct?

[ims21]

That'll do.

 

Part of this spreadsheet work is for your reference so you can check any offer made and the other part is that it shows the lender that you are a bot savvy about what you're doing

[Foebane72]

So what's the next step?

[dx100uk]

fill out the FOS CQ here:

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

 

write a simple covering letter.

 

and post all three [four - 2*SOC's] off to HFC

 

dx

[Foebane72]

1. The CQ is asking for the policy number of the PPI - is that the same as the account number?

 

2. Which HFC address do I send the letter to? The same as for the SAR?

[dx100uk]

what you dont know DONT answer and DONT GUESS!!

 

yes same address will do.

 

HFC Bank Limited Registered Office: Camden House West,The Parade,

Birmingham B1 3PY

 

dx

[Foebane72]

Well, I filled in the questionnaire and sent off the claim today, so I only hope things go well.

 

Thing is, I think I was a bit too brief in explanations to answers, but then I don't remember much from something that happened eight years ago.

[Foebane72]

Got a letter back from HFC bank, saying:

 

We are concerned to learn you are unhappy with the PPI sold with your Personal Loan. Due to the high volume of complaints currently being processed, our investigation into your concerns will begin within the next 6 weeks. We aim to issue our final response within 8 weeks and request your patience during this period.

 

So it could take as long as 14 weeks?? And I won't even know until then if I've been successful with my claim?

[ims21]

I think you may have misread it.

 

Investigation to start in 6 and decision by 8 so they give themselves 2 weeks to investigate.

 

In any event, they only have 8 weeks so if no response by that time you can step up the pressure with fos which will cost HFC £850 for a case fee.

[Foebane72]

The letter came. My PPI claim was SUCCESSFUL.

 

The option open to me is for a reduction in my account of somewhere in the region of £1200, but I can't recall exact figures as I sent off the signed forms just today.

 

So there'll be a huge reduction in the amount I owe, and it seems the repayments will be readjusted as well, which is a bonus for me.

 

So, a red letter day for me indeed!

[ims21]

Good news then....well done.

 

Let us know when all of the financial stuff is done and we can mark your thread to reflect your success.

[Foebane72]

One thing though, Ims, is that I'm not sure if I should have made a copy of the questionnaire, spreadsheets and covering letter I sent off to the bank originally, as it turns out my original files have been damaged or were never saved. Can I ask the bank for a copy of the PPI claim info I sent or does it actually matter now?

 

Also, I don't really want to hold onto all the old data on printed sheets that the HFC bank sent me so I could make the claim in the first place. Should I wait until all my debts with HFC are paid off before disposing of them (by fire, preferably)?