HFC Bank Loan ppi 1989 **WON**

[dx100uk]

aha post 20 refers

 

you said 96

 

thse are 1986!!

 

answers the question

 

i'll go over it soon

 

been off all day

 

dx

[davsib]

aha post 20 refers

 

you said 96

 

these are 1986!!

 

answers the question

 

I'll go over it soon

 

been off all day

 

dx

 

Hi sorry yes my mistake I should have put 1986-87 got that many statements ect it gets confusing

[dx100uk]

ok i've finished playing around

 

IMHO they have fleeced you blind

and prob HAVE the records of the info you want.

 

inc the missing loans

 

however

 

i would make three new SOC's

 

one for the £10.23 PPI PCM on the 06915401501 account

 

and

another for the WHOLE of the take 5 loan [60*£27.45]

 

third for the whole of the take 5 stuff itself

 

[£69.12*60]

 

include all the statements you have.

 

for some unknown reason

 

they made you take out a loan to pay something else on the take 4 policy

 

and they charged you PPI on the loan you had in the first place

 

3 claims.

 

i cant see how they can make you PROVE you paid off either the take 5 loan or the olicy

as both were missold.

 

dx

[davsib]

[ATTACH]40691[/ATTACH]

[ATTACH]40692[/ATTACH]

[ATTACH]40690[/ATTACH]

I have made 3 excel docs for the 3 claims 2 have the same account no is this OK If you could check to see that I have done them correctly

Thanks

Davsib

Edited January 15, 2013 by davsib

[dx100uk]

names on them

 

but they are ok

[dx100uk]

now staples a COPY of the relevent CCA and payment statements to each one.

 

and do ONE FOS CQ

 

and one covering letter

 

The Complaints Department

[Lender’s address]

[Date]

Dear Sir/Madam,

Ref – policy number

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

I took out a £xxx loan/credit card at your [branch name] branch on [date] and also bought a payment protection policy which would cost me an extra £xxx over the life of the loan. [The name of the salesperson who sold me the policy is …] The total amount of my premiums plus interest is £ xxxx.

When I took out the loan, I was told that my application would be refused if I did not also buy a PPI policy. The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a borrower should not be refused a loan if they choose not to buy an insurance policy.

Possible additional paragraphs – include any which apply to you

[i also told your salesperson that I had adequate insurance cover through a separate income protection policy.]

 

[i said I did not need the PPI as my employer provides a generous illness and redundancy package.]

[You are not allowed to make PPI a condition of taking out the loan unless you include the costs of PPI in the quoted interest rate, which you did not do.]

[in forcing me to buy this policy, you have also breached paragraph 8.6 of the Banking Code, to which you are a signatory.]

I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I did not need this insurance and said at the time of taking the loan that I did not want it.

I am requesting a full refund of all my insurance payments, plus interest, which total [£ xxx].

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

Yours faithfully,

 

 

example 1

 

 

Dear Sir or Madam,

Re:

 

I am writing in relation to the above payment protection (PPI) policy which i believe was mis-sold to me in relation to my

I believe you have not treated me fairly for the following reasons;

· The PPI was added without my knowledge..

· You have been punished by the Financial Services Authority for failing to treat customers fairly and I do not believe that the PPI I bought was sold in my best interest.

Unless you can prove that the policy was fair and reasonable and that I was treated fairly when I was sold the insurance, I demand a full refund of all premiums, and subsequent interest on these payments, that I have paid in relation to this policy. I also expect 8% interest to be added to each payment I have made as this is the statutory amount a court would pay.

I look forward to your full and prompt response to this letter. If this matter is not settled within eight weeks of this letter I shall be contacting the Financial Ombudsman to investigate my complaint.

This letter is in respect of the above account that was issued by

Yours faithfully

 

dx

[davsib]

Hi dx,

Thanks for helping me with my claim it is really appreciate it, A couple of questions, the loan ending 305 with payments £27.10 I don't know what date it started as I don't have the doc's. The earliest payment I can find is 1st Oct 86 and was settled 14th Nov 1989 with the new loan. Can I claim for this one ?.

Can you have a look at the letters attached for £27.45 & £10.23 (names removed).

Not sure what numbers to fill in with the claim for the Take 5 will you have another look please

I just want to make sure it's all right before I send it.

Davsib

Edited January 16, 2013 by davsib

[davsib]

Not sure what numbers to fill in with the claim for the Take 5 will you have another look please

Davsib

Think I've got it see attachements

[dx100uk]

there are names on the PDF letters

 

not sure what these other two SOC's are but you dont need them.

 

on all 3 claims, you are already claiming till the claims date.

 

 

dx

[davsib]

I have taken your advice on the missing doc's. if as we think it finished 7 months early I have worked out it started 1/7/1985 and paid off with new loan.

loan £1626.00 including interest and ppi, just kept the ppi at £10.23

I have attached a copy of the excel files have made

 

dx would you have a look please

davsib

Edited January 16, 2013 by davsib

[dx100uk]

hi dave

sri thats wrong on the rollover stuff

 

you need to read '0' below

 

i've not got time to do it for you at present give me a day or two.

 

........

 

dont forget what you found out here its the key:

 

you say I should make a claim for the Take 5 £69.12 x 60 months and also claim take 5 £27.46 x 60 months and one other for £10.23,

 

I can only show with the bank statement payments of £69.12

 

If you add up £27.45 + £10.23 + (£31.44 loan) it adds up to £69.12.

 

I would love to claim for £69.12 x 60, not sure if they will pay out on it.

 

.......

 

could be worth a try though it would 'complicate' your spreadsheet

 

there is info upon how to work in out in '0' or '1' links on my msgs on your thread

and the red tabs on the spreadsheet.

 

i must admit, i got hfc to cough on a refinanced loan when i had all the details of the loan if was refinanced into

but no agreement for the refinanced loan

 

bit like your situation - i had a few statements, and said these were an 'example' of bank statements detailing my payment toward the old loan.

 

they fell for it and coughed

 

i worked out what the PPI PCM was by using the PPI% figure/details from the later loan [mine was 13.9% of any payment to it]

 

so as an example yours says 19.6%% apr for PPI which equalled £10.23 PPI PCM

 

so for the pay-off of .......... it says £202.72 so 19.6 of that was carried over PPI

then you have to workout the int added by the refinanced loan, its all in '0' or '1' links.

 

take this one stage further......

 

if only £202.76 was left to pay when you refinanced divide that by your PCM [£27.10]

 

that says it was 7.5 mts to run [strange!]

 

so almost done

 

as most were 60 payments you COULD reconstruct the loan using the loan analysis spreadsheet

and put in ALL the payments made etc.

 

again that will be a task BUT would 'put an extra 0' on your claim for sure.

 

have a play.

 

dx

[davsib]

Thanks dx, really appreciate your help If there wasn't people like you on here don't know what we would do:-D

[davsib]

that says it was 7.5 mts to run [strange!]

 

Hi dx, been thinking about what you said about 7.5 mts. Do you think it's because the new loan was taken out on 14/11/1988 half way through the month and payments were always on the 1st, could it be some kind of adjustment.

Davsib

[dx100uk]

i cant reliably reconstruct the 1st loan - sri

£27.10 doesn't make sense even over 60mts [see xls]

 

i have done the claim form though

 

 

 

dx

[davsib]

Thanks dx, do you think I should just leave it or just have ago and see what happens.

davsib

[davsib]

Just had another look at it dx will you have a look at the letter and excel doc please[ATTACH]40899[/ATTACH]. I tried to work out that the ppi would be a month and just did it at the same % of the other loan and came up with £9.03.

 

The Complaints Department

HFC Bank Limited,

PO Box 5207,

Coventry,

CV3 9FB

22/01/2013

 

Dear Sir/Madam,

Ref –xxxxxxxx05

 

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

I took out a £1611.95 loan at your Newcastle Upon Tyne branch on 14th July 1984 which included payment protection policy over the life of the loan.

 

When I took out the loan, I was told that my application would be refused if I did not also buy a PPI policy. The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a borrower should not be refused a loan if they choose not to buy an insurance policy.

 

I said I did not need the PPI as my employer Newcastle city Council provides a generous illness and redundancy package.

 

In forcing me to buy this policy, you have also breached paragraph 8.6 of the Banking Code, to which you are a signatory.

I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I did not need this insurance and said at the time of taking the loan that I did not want it.

I have included a selection of bank statements with the payment for £27.10

This loan was paid off with loan xxxxxx01 on 14/11/1988

I am requesting a full refund of all my insurance payments, plus interest, which total £1676.63.

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

Yours faithfully,

They can only say:wink: no what do you think

davsib

[dx100uk]

the prob with the first loan is that £27.10 PCM

over 60mts does not give a figure which talies with say a £1500 loAN at say 15% int

 

it would be alot more than than £150 int. [cell c53]

 

we could lets say guess that the £27.10 was the PPI only

 

and this was a current account plus account

whereby you paid the PCM by another source or card.

 

that account number certainly matches other CAP accounts numbers i've seen

 

but then thats not a fixed loan

 

so no way oftelling when started etc

 

2nd thougts it cant be a CAP as its a fixed amount

 

CAP repayments and PPI varies with balance outstanding each month.

 

see its a minefield.

 

sadly i think you've gotta forget that 1st loan

 

dx

[davsib]

Ok thanks :Cry:

I will send the other one off today

still waiting on a reply from Yorkshire Bank but will start a new thread for that one

david

[davsib]

Hi Received a letter from HFC Bank today and they are going to payup . Unfortuantely not the full amount I thought I would get.

dx will you have a look through the papers and let me know what you think I should do next

davsib

[dx100uk]

eh!

 

thats not 27.45 nor 10.23

 

cant work out what they have done

 

reject it and point out both the take 5 and the loan had ppi

 

dx

[davsib]

eh!

 

thats not 27.45 nor 10.23

 

cant work out what they have done

 

reject it and point out both the take 5 and the loan had ppi

 

dx

 

Thats what I thought, I have just rang them and was told they have not received the info I sent them this week. So I think they must have looked at it again and just made up a number told them I was rejecting it.

At least we are getting there :-D:-D

davsib

[davsib]

UPDATE

Received another offer over the weekend and it was the same as the first one .

So back on the phone again, the person I spoke to said that was their final offer.

 

I asked to speak to a supervisor, I told them I had a water tight case and would go to FOS.

The supervisor rang me back a couple of hours later to say I would receive another offer in the post in 14 days.

 

If you are going to telephone HFC don't bother with the first person you speak too, always ask for a supervisor and do you homework before you ring them, have all your info in front of you and be firm with them but not rude. Show them you know what your talking about and hopefully you will get results.

 

davsib:-D

[dx100uk]

perfect candidate for telephone quizzing dave

you can hold your own.

 

dx

[davsib]

UPDATE

 

Received a letter rejecting the reconstruct 1st loan, always thought they would was worth a try.

 

Just waiting now for their next offer on the other ppi

 

davsib:-)

[davsib]

update

 

dx you will like this,

 

Just telephoned HFC asking why I have not received a reply from them as it has been 3 weeks, was told they had sent out a letter:roll:. Never arrived

So asked them to read the letter out to me.

 

They now are rejecting my claim as they don't keep info over 6 years, strange when I sent the copies of the original doc's, told them I'm off to FOS now. Did mention to him about them getting fined lol

 

His fingers were going fifty to the dozen on his key board.

 

Just when you think you are getting somewhere it's back to square one.

 

Good old HFC

 

davsib:-)