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HBOS PPI reclaim


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Ims...I have read your signature page regarding single PPI

 

I am a little confused:???: as to which of those scenarios would apply to my HBos Halifax loan

 

Generally speaking..

 

.ORIGINAL Loan 1 was consolidated by loan 2 then consolidated by loan 3...£5000 then £10000 then £15000

 

Can you let me know which scenario and I'll go back and read that scenario in depth..

 

Also is 'rollover'loan another name for consolidated loan

 

thnks:-)

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The principles are in post #5 of the article linked in my signature.

 

The exact method is given in this thread which you have subscribed to

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?339738-ppi-reclaim-without-account-details&p=3872654#post3872654

 

Rollover is just a term used where ppi from an earlier loan is still being paid through a later loan and can happen when loans are consolidated

 

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I am going to put down in a logical coherent manner...

 

.the original loan and its settlement date (showing early repayments to NIL) ..the associated figures for loans/APR/interest/total monthly repayments

 

.the 2 subsequent consolidation loans and their settlement dates (showing early repayments to NIL) ..the associated figures for loans/interest/APR/total monthly repayments...

 

This information is ALL on the Personal Loan Account (Transaction History)....

 

I am just collating al info on piece of paper...and will post tomorrow....from that I may need to understand principles of application onto spreadsheet...

 

I truly hope:pray2: that it will work out

 

Many Thanks for your time ims21:-)

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Good Morning ims...ok here is the detailed information...what i need really is to be able to distinguish whether tyhey are in fact and in substance 3 separate loans in which case I shall just post to appropriate spreadsheet and simply aggregate the three totals...OR is there something more to this?

 

 

 

Original Loan 1

Date Funds Issued -14.02.01

No Signature in PPI box

Amount of Loan -£5000

Repayment Period -36 months/3yrs

Total Charge for Credit for cash loan-£1,229.08

Total amount you pay for cash loan-£6,229.08

INSURANCE LOAN(cash price of insurance)-£788.62

Total charge for credit for insurance loan-£193.82

Total Amount you pay for Insurance Loan-£982.44

Repayments at 36 monthly intervals of total loan and interest of-£202.32

APR-15.9% FIXED

Insurance Premium Tax-£33.67

Monthly Interest Rate-1.240%

TOTAL LOAN-£5,788.62

Total Charge for credit for TOTAL LOAN(total charge for credit)-£1,422.90

TOTAL AMOUNT YOU PAY-£7,211.52

STATE OF ACCOUNT-REPAID EARLY

BALANCE-NIL at-05.03.02

SETTLEMENT DATE-14.03.02

Question-is ppi still running because loan was paid off early...also is there any rebate for this loan.

 

 

Consolidation Loan 2

Date Funds Issued -05.03.02

Amount of Loan -£10,000

Repayment Period -60 months/5years

Total Charge for Credit for cash loan-£2,336.60

Total amount you pay for cash loan-£12,336.60

INSURANCE LOAN(cash price of insurance)-£1,877.56

Total charge for credit for insurance loan-£438.44

Total Amount you pay for Insurance Loan-£2,316.00

Repayments at 60 monthly intervals of total loan and interest of-£244.21

APR-8.9% FIXED

Insurance Premium Tax-£80.16

Monthly Interest Rate-0.716%

TOTAL LOAN-£11,877.56

Total Charge for credit for TOTAL LOAN(total charge for credit)-£2,775.04

TOTAL AMOUNT YOU PAY-£14,652.60

STATE OF ACCOUNT-REPAID EARLY

BALANCE-NIL at-13.02.04

DATE CANCELLED-13.02.04

Question-is ppi still running because loan was paid off early...also is there any rebate for this loan.

 

 

Consolidation Loan 3

Date Funds Issued -13.02.04

Amount of Loan -£15,000

Repayment Period -60 months/5years

Total Charge for Credit for cash loan-£3,166.20

Total amount you pay for cash loan-£18,166.20

INSURANCE LOAN(cash price of insurance)-£3,149.63

Total charge for credit for insurance loan-£664.57

Total Amount you pay for Insurance Loan-£3,814.20

Repayments at 60 monthly intervals of total loan and interest of-£366.47

APR-7.5-FIXED

Insurance Premium Tax-£134.47

Monthly Interest Rate-0.608%

TOTAL LOAN-£18,149.63

Total Charge for credit for TOTAL LOAN(total charge for credit)-£3,830.77

TOTAL AMOUNT YOU PAY-£21,980.40

STATE OF ACCOUNT-REPAID EARLY

BALANCE-NIL at-10.02.05

DATE CANCELLED-01.02.05

 

Question-is ppi still running because loan was paid off early...also is there any rebate for this loan.

Question-ARE THESE LOANS in essence just 3 SEPARATE LOANS

Question-How do i know if any rebates are due for all the above?

Edited by means2anend
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Question-is ppi still running because loan was paid off early...also is there any rebate for this loan.

Question-ARE THESE LOANS in essence just 3 SEPARATE LOANS

Question-How do i know if any rebates are due for all the above?

 

PPI cover stops when the loan is repaid.

 

If subsequent loans are used to pay off a previous loan then they are consolidation loans.

 

PPI rebates, if any was give) may be shown on the closing statements of a loan or provided by way of a letter when the loan was settled. If in doubt, assume no rebate was given and make adjustment for it if the lender confirms rebates were given if and when they make any offer.

 

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Right thank you very much...I can safely assume then that in relation to the facts/figures....the 2 and 3ed loans were NOT used to pay off any EXISTING HALIFAX loans as the facts/figures show previous accounts were ALREADY settled and balance was NIL....they may have been used to 'consolidate' other debts with other lenders/store cards/credit cards etc...but NOT with Halifax...with that in mind....therefore, shall I treat these 3 loans as separate distinct unsecured loans with their asscociated PPI's...and if so which spreadsheet applies and wil it be just a method of straight forward posting and totalling of all 3 separate TOTAL figures from the spreadsheet ?

 

There appears to be no rebates in the transaction sheets for any of them...so I shall assume none was given when calculation is made...

 

Is the above reasoning correct/reasonable?

 

 

Thank you ims:-)

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so how was each loan settled then?

can you remember?

 

dx

  • Haha 1

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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well if the previous loan was not paid off by the next one,

the there MUST have been rollover of PPI

so they were linked.

 

the dates you have given show that.

 

so they a not 3 sep loans

 

or did i read that bit you wrote wrong?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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According to the figures above in post #81 does it look as though the balance of the previous loan is reduced to nil...so that the next consolidating loan is not for repaying off previous loan...I am sorry to sound simplistic but that 's what I seem to understand from the Transaction Record...unless my reasoning is wrong...

 

How do you read the above post #81 dx100uk?

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I am just looking that when NEW FUNDS are issued.it is at a time when the previous balance is NIL..so I am assuming that the CONSOLIDATION is NOT for the previous loan (naturally...but some OTHER lenders loan)...

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so how was each loan settled then?

can you remember?

 

dx

 

Yes I understand now...I have had another look at the statements and on each 3 loans they were settled with a lump sum on the balance nil dates as mentioned above in post #81

 

the 1st for approx £3844 on 05.03.02

the 2nd for approx£7,360 on 13.02.04

the 3rd for approx £14,000 and £2,000 on 07.02.05 and 10.02.05 respectively

 

Thank you

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Would the above in POST #81 fall into..

 

.My loan included Single Premium PPI and I paid the loan off early with a lump sum payment. I didn’t get any rebate on the PPI.....

or....

 

I had a loan which included a Single Premium PPI. It was initially an 8 year loan. After 6 years I took out another loan which gave me some cash in my pocket and also paid off the balance on my previous loan. The second loan also had PPI included and the term of this new loan was 10 years. What do I claim?

 

 

Or...some other category mentioned on ims signature page for single premium policy read here

Edited by means2anend
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You need to know whether the funds from a later loan were used to repay a previous one.

 

Loan 1 balance reduced to nil on 5/3/02 which was the same date that loan 2 was made available. Same for loan 2 & 3.

 

If the funds to clear the loans didn't come from the later loans, where did the funds come from? If they cam from another lender then you won't have rollover/consolidation.

 

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:frusty::frusty:

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

You need to know whether the funds from a later loan were used to repay a previous one.

 

Loan 1 balance reduced to nil on 5/3/02 which was the same date that loan 2 was made available. Same for loan 2 & 3.

 

If the funds to clear the loans didn't come from the later loans, where did the funds come from? If they cam from another lender then you won't have rollover/consolidation.

 

Aha!!!!!!...

 

I have just spoken with the debtor on whose behalf I am working this out for and he said that loan 3 was used to reduce loan 2 and loan 2 to reduce loan 1...and that the PPI was 'rolled over'...will that help.:cheer2:

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