Claiming PPi if it has been used?

[dx100uk]

done a few basic checks

 

looks ok

 

dx

[mccgirls]

Great, thank very much DX. I'm going to wait for the SAR to come in in case it shows up anyhting else and then send it over to them along with the cc claim when Ive done that

[dx100uk]

don't forget the fos cq

[mccgirls]

:?:Hi, Just a thought on the roll over amounts and I wonder if you could clarify:

 

As loan 4 is settling loan 2 and 3 and loan 2 settled loan 1 should there be an amount of rolled over interest under loan 4 to settle loan 1

 

Same with loan 6 which is settling loan 4 and 5, as loan 4 settled loan 2 which settled loan 1

should there not be a rolled over amount showing against loan 6 for loan 2 and 1.

 

Loan 4 also settled loan 3 so is there a rolled over interest in loan 6 for loan 3??

 

I hope I have explained clearly what I mean as it is a bit confusing to me.

 

I guess what I'm thinking is I have calculated the roll over amount for each loan but not the roll over on the roll over!!!

[dx100uk]

the way its been done before is to work out

the ppi % of each loan in to the last loan

forget about the 4 financing 3. etc

 

just put the actual ppi paid each month for each loan when paying it

 

then show its rollover in loan 6 only

 

dx

[mccgirls]

The SAR deadline is Tuesday and they havent even cashed the cheque yet so I have decided to put the claim in tomorrow

as we have all statements and contracts anyway.

 

I just have a couple of questions please?

 

1. The questionaire.

 

When my partner took out loan one he was strongly advised to take the ppi in order to get the loan as it would protect the loan for them

as opposed to for him and

 

his details were not discussed to see if it was suitable for him.

 

Is this enough information or should I go into the fact that he was employed on 6 monthly contracts

and so no guarantee of work at the end of each contract.

 

This carried on until loan 6 when he was permenatly employed and had all the benefits he needed through his employment.

 

Each subsequent loan was just sold as per loan one with the amount for PPi included?

 

2. At the same time as taking out loan one he was also given a credit card.

 

Do I need to complete a seperate questionaire for the CC or can I put all loans and CC on one questionaire??

 

Thank you in advance for all advice

[mccgirls]

UPDATE...

.....When I sent the PPi claim off

 

I also sent a claim for a refund of charges consisting of some £10 charges and a £221 they took with the final payment.

 

Plus a compalint that discounts had not been applied for early settlement.

 

I am still waiting for a response to the PPi claim but have received a response to the other issues raised in my compalint not upholding them.

 

I am going to send them a response not agreeing with their decision as I believe it is premature anyway

as the outcome of the PPI claim will affect the points raised?

 

They are also saying they cannot investigate the first loan as it is more than 6 years old,

 

however I have sent them a copy of the signed agreement which I already had and they did also produce it in the SAR.

 

i also sent them copies of bank statements showing 1st,2nd,3rd payment and final payment detailed in loan 2.

 

I am only missing 4,5,6 payment, surely they have enough info

 

In calculating the total amount paid on each loan

 

I have added all monthly payments and settlement figure in new loan together including interest

 

and every loan has paid the full amount or £1000's extra despite being settled after 10 or 20% of the origional term.

 

 

I think maybe I am looking at this wrong as I have added the interest amount on the part of loan to settle previous loan,

 

perhaps I should be looking at the net amount to settle if that makes sense?

 

Any advice please on how i should respond?

 

Thanks in advance

[dx100uk]

hi

 

they might claim its out of 6yrs [charges only not PPI].

but if its effected by the PPI ,then it should be included.

 

i'll popback later

 

dx

[mccgirls]

Hi Dx,

Just to confirm the charges were all 2009 onwards on the final loan.

Just not sure how to respond as Im sure most of this should be looked at after a deciaion on the PPI?

Thanks

Mccgirls

[dx100uk]

no as they are 2009 you can put in a claim

 

dx

[mccgirls]

Update,

I received a response on October 11th (just before we were heading out the country) upholding the complaint on all 5 loans, so great news,

 

however their offer was about £3000 less than my calculations.

This differecne was made up in the roled over premiums.

 

I sent them a letter stating I could neither accept or reject their offer and asked them to re-look at their figures and provide me with a detailed breakdown plus I raised the point about the charges being rejected and said it was premature so to re-look at that also

 

This has been 4 weeks now and still no response from them so not sure what to do?

Their letter on the 11th Oct did say final response, any advice please??

[dx100uk]

give em a ring MC

[mccgirls]

Haha, OK DX will do.......and I though it was going to be more complicated that that!!! Will let you know what they say

Thank you

[mccgirls]

Just called them and they said they sent a letter on 29th October,

we havent received it so they said they would send a copy which would arrive in 10 to 14 days

which takes us to 6 weeks from their initial offer which has to be accepted in 6 weeks.

 

They would not email the letter or email it to our local branch or even send it to his internet banking account so we just have to wait some more.

 

I dont want to miss the deadline to accept if for any reason my calculations are wrong as they have offered £10K but my calculation is £13.5K. It is so frustrating this waiting!

[Andybars]

Don't worry about the 6 week timescale

- this is just HFC trying to rush people into decisions

- the important timescale is 6 months from the date of the offer letter.

 

By that point you need to have either accepted the offer or referred the case to the Ombudsman.

 

If you don't HFC are likely to withdraw the offer and you will no longer be able to escalate to FOS

[dx100uk]

how about you post up your spread?

 

dx

[mccgirls]

Hi Dx,

It is posted in post number 50 on page 3. Thats the one I sent

Thanks Mcc

[dx100uk]

ok sri

 

we need to see the breakdown of how they have done it

 

dx

[mccgirls]

Hi Dx,

I am attaching a spreadsheet I have done which details (as per their words) the offer.

 

it is broken down by loan and then a summary at the bottom.

 

In the second column you will see i have broken out the various elements of the statin sheet

to math the way they have broken it down.

 

It seems to me the differences is the Hamilton Insurance and the rolled over which obviously both affect the interest.

 

I would really appreciate it if you could let me know what you think.

Thanks Mcc

[dx100uk]

been a bit busy

sri

 

 

dx

[mccgirls]

Just called them and they said they sent a letter on 29th October,

we havent received it so they said they would send a copy which would arrive in 10 to 14 days

which takes us to 6 weeks from their initial offer which has to be accepted in 6 weeks.

 

They would not email the letter or email it to our local branch or even send it to his internet banking account so we just have to wait some more.

 

I dont want to miss the deadline to accept if for any reason my calculations are wrong as they have offered £10K but my calculation is £13.5K. It is so frustrating this waiting!

 

So the 14 days are now up and still no copy of the letter.

 

 

I am thinking i need to send a very strong letter about why the delay and request once again a detailed breakdown premium by premium

and/or a revised offer and give the 10 or 14 days to provide befor escalating to FOS?

 

 

Any suggestions on what to put would be appreciated.

 

 

Also I am thinking maybe i saw an email address of a senior person somewhere that may be worth emailing instead?

 

Also Dx if you are reading, I am just wondering if you have had time to check my calculations?

 

thank you

[dx100uk]

sri you got forgotten

 

 

i'll look in tonight.

 

 

dx

[mccgirls]

I sent a letter to the CEO Mr Keir last week and finally today I got a response.

 

Top and bottom of it is they are sticking to their origional offer.

 

The difference is the rolled over premiums and interest on them so not sure what to do.

 

Sorry to be a pain but DX did you manage to check my calculations

my sheets are on post 50 which I worked out according to Ims instructions

and break down of their offer above on post 69.

 

Im keen to reach a decision one way or the other on this so really appreciate some help??

[dx100uk]

yea I know

I looked and went ugh...

 

not had my thinking brain on of recent

 

will do it soon

 

dx

[mccgirls]

Hi Dx dont worry I have fgured it out!!! When I worked out the rolled over interest I didnt have information of any rebates deducted at settlement of these loans and they didnt provide the statements in the SAR.

When I got their response yesterday they had included the statements for loans 2,3,4,5 already had 6 so these detailed any rebates. I recalculated taking into consideration rebates and the figures are now within £100 of each other so we will accept.

 

I am now happy I know we are not being swindled any more so result!!

Thanks for your help