KF Car Insurance PPI Claim

[AdvS1]

Hi Guys,

 

As a reference, I originally started a thread here [ http://www.consumeractiongroup.co.uk/forum/showthread.php?396944-PPI-Claim-against-MBNA-c-card.-Involves-1st-Credit-amp-Connaught-DC-Agencies ] about PPI, however I have now received a response from KF re: my ppi letter on car insurance.

 

In my original letter in early-July 2013, I gave them my details which included the following:

 

- my full name

- my DOB

- my full address incl post code

- telephone number

- contact email

- insurance details incl the following

* client ref: no.

* ins. cover type

* car details

* car reg

- dates of insurance cover

- insurance premiums relating to each date

 

Note: The majority of the premiums have dates that are pre-year 2000.

 

I have received a response stating that they are unable to access my policies pre-2000 to early 2000's, to investigate if pp had been added to my monthly direct debit payments.

 

In order for them to take the matter further (investigate), I am being asked to send them information/paperwork received from them at that particular time.

 

Should I comply with this request? and how?

I may not have all of the monthly payment information re: bank statements.

 

Surely they should have this information to hand, even if it is stored away in a remote storage facility or on some kind of micro-fiche, disk(s) or cd's.

 

I welcome your response to my query.

 

Regards,

AdvS1.

[AdvS1]

Hello,

As per my earlier post, I welcome your 'next steps' advice.

 

Thanks,

AdvS1.

[ims21]

So this vehicle insurance was taken on a finance contract to which PPI was added?

 

If so do you have the evidence that PPI was added to the account?

[AdvS1]

Hello ims21,

 

Thanks for your reply. I am looking through my files to see if I can find additional information/paperwork, and from that will update here accordingly.

To make it simpler, I have answered your questions seperately below.

 

- So this vehicle insurance was taken on a finance contract to which PPI was added?

Yes, it has been.

From looking more closely at my papers, there is no seperation of charges mentioned of the ppi amount, it is lumped into the main monthly installment payment

 

- If so do you have the evidence that PPI was added to the account?

Yes, I do.

I have a confirmation letter dated 06/11/98 stating "We are please to confirm your acceptance under the Accident, Sickness and Unemployment policy offered by KF Insurance Services." and I have the booklet from them called "Accident, Sickness & Unemployment Policy".

 

Also, in a letter dated 19/10/99, the details in smaller print at the bottom on the Motor Insurance Renewal states *The installment amounts shown include the renewal of your Payment Protection Plan....". In even smaller words at the very bottom of the page are the words "Premiums shown are inclusive if Insurance Premium Tax at the current rate".

 

The then current policy total amount was £826.36 at 35.4% APR

The then current policy total amount which included Protected No Claim Discount Option was £942.63 at 35.4% APR

 

~~~~

 

Letter dated 05/11/99 ~ This is a letter confirming my renewal. Under the Confirmation of details:

 

* Insurance premium

(including insurance premium tax) £691.71

* 1st Installment £69.17

* Balance of insurance premium £622.54

 

ADD

* Installment Charge £99.61

 

Total Amount Payable £722.15

 

Subsequent Instalment Amounts £65.65

 

First payment date is 02/12/99. Subsequent payments being the 2nd of each month.

 

Under the Confirmation of bank details, they have quoted my:

 

* Sort code

* Account Number

* Account Name

 

On the Motor Policy Schedule, there is a box called "Additional Premium" with an amount £691.71 in the box. It also states "Additional premium is inclusive of Administrative Fee". The admin fee amount is not stated.

 

~~~~

 

Letter dated 09/11/01 ~ This is a letter confirming the renewal of the policy.

It shows the monthly installments due from 8/12/01 for £84.04 and 8/01/02 - 8/11/02 for £78.37 (monthly lump sum figures only, ppi is not shown as a seperate fee).

 

Regards,

AdvS1.

[ims21]

OK so it seems the insurance is £691 odd so what I would do is send them copies of the documents that confirm the premium and the payments made.

 

Good job you keep all of your old papers.

[AdvS1]

Hi there, thanks very much.

 

Yes

I have always been told off by my family for being a mini-hoarder.

In this situation it should prove very beneficial.

 

Another quick question, do you think I should send them a bank statement payment too or just leave it for now, depending on their reply?

[ims21]

In my view your bank statements are personal.

 

I would see what reply you get without sending them but if push comes to shove then you can by all means send evidence of the actual payments made.

[AdvS1]

Thank you very much, ims21.

I'm not keen on it either.

 

I really appreciate your guidance.

Once my correspondence with each company is finalised,

I will certainly be hitting that donation button (more than once)

 

Have a great evening!

[AdvS1]

***Update***

 

Hi there,

 

I've had a response and they want to send a payment that is just under £130.00

This includes the 8% interest.

 

I'm not sure if their calculations are correct, especially as I paid out over £3,000 in car insurance policies over a 4 year period.

 

Regards.

[ims21]

You would need to be able to show the amounts of PPI on each finance agreement and put in a claim for each one separately.

[AdvS1]

Hi ims21,

That information was never shown on the paperwork that I have. Below is the response from the email received from KF. I still have to respond whether to accept or query it:

 

"Thank you for your email and the information you have provided in relation to your complaint. I am sorry we have given you reason to complain.

I tried to call you today to discuss this matter further. Unfortunately, I was unsuccessful. I have reviewed your complaint and have given my findings below.

 

On your policy from 6 November 1998 your paperwork shows that this cover was included in your monthly direct debit payments. Your renewal notice from 6 November 1999 confirms that the payments quoted included the payment protection policy. When this policy was renewed, there is no confirmation on the paperwork that you have sent to me that this cover continued until your policy was due to be renewed again in November 2000. I regret that there is no documentation showing that there was a motor insurance policy in force with us from November 2000 to 2001 or stating that payment protection was included. We have received an instalments confirmation letter and certificate of motor insurance showing that a policy was arranged from 8 November 2001 until 2002. However, there is no proof that the payment protection policy was arranged for this policy.

 

As confirmed in my email dated 5 August 2013, I regret that we no longer have access to your files from 1998 to 2002. However, as you have provided some documentation from these years, I have been able to make a decision in relation to your payment protection claim.

 

Following my investigation, I can only assume that the payment protection policy was in force for your four policies from November 1998 until November 2002. I am unable to listen to the call recording from when the payment protection policy was added to your monthly payments and cannot confirm that this policy was mis-sold. However, our renewal notice dated 19 October 1999 confirmed that your renewal payments included the payment protection plan and we asked you to contact us before your policy was due for renewal if you did not want this cover to continue.

 

When the payment protection policy was sold originally the premium was £19.99 for a years policy and increased to £32.89 in 2005. We have calculated the cost of the payment protection policy from 1998 to 2002 at £29.99. Due to this you are due a refund of £119.96 plus the additional 8% interest increases this amount to £129.59. I will arrange for your cheque to be sent to you. Please allow ten working days for your cheque to arrive.

 

I hope I have answered all your concerns and I that my explanation has been helpful to you. However, if you remain unhappy with my response you can contact the Financial Ombudsman Service within six months. Details can be found by clicking on the link below www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm

If you require any further assistance, please do not hesitate to contact me on ??? or by return email. I am normally available from 9am until 5pm, Monday to Thursday."

Edited August 7, 2013 by AdvS1
privacy

[AdvS1]

Also, I have read (and please correct me if I am wrong), that wouldn't the 8% interest include a timeframe element of when the last payment was made (Nov 2002) to when I made the complaint to them? If so, then that is a duration from Nov/Dec 2002 to July/August 2013.

[dx100uk]

you should get back

 

the ppi paid at their int rate until the close of the policies

from that date, you should get 8% stat int , on the total figure to todays date

 

dx

[AdvS1]

That's what I thought. Thank you.

 

I've also attached the information previously sent as proof.

 

Regards.

[AdvS1]

Good Morning,

 

I aim to contact KF today with my response to their offer but before that, I just wanted to clarify the figure I am prepared to accept from them.

I have calculated a final acceptance figure(s) of (A) £232.77 or (B) £241.81 . This comprises the following:

 

(A) PPI amount per year £29.99 x 4 years of payment = £119.96 (KF's quoted figure)

 

PPI Owed £119.96

Int Rate 8%

Interest £9.59

x Days Due x *3,926 days

/ 365 days per year = 37,677.03 / 365

Stat Int. Amount = £103.22

 

SUMMARY:

PPI Owed = £119.96

x 8% interest = £9.59

+ 8% stat int = £103.22

Total = £232.77

 

-----

 

(B) PPI amount per year £29.99 x 4 years of payment (incls int £9.59) = £129.95 (KF's quoted figure)

 

PPI Owed £129.95

Int Rate 8%

Interest £10.40

x Days Due x *3,926 days

/ 365 days per year = 40,830.40 / 365

Stat Int. Amount = £111.86

 

SUMMARY:

PPI Owed = £129.95 (includes their 8% interest)

+ 8% stat int = £111.86

Total = £241.81

 

Note:

*Duration timeframe for Days Due:

09/11/2002 to 08/08/2013 = 3,926 days (or 10 years and 9 months : which includes today's date)

Can you please tell me if my figures are correct?

 

Thank you.

Edited August 8, 2013 by AdvS1

[dx100uk]

you can use the stat int sheet to check.

 

put in the lump figure for each

on a sep copy.

 

that will do it for you

 

use the date as the date their int charging stopped

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

[AdvS1]

[ATTACH]45678[/ATTACH]

 

[ATTACH]45679[/ATTACH]

 

[ATTACH]45679[/ATTACH]

 

[ATTACH]45678[/ATTACH]

 

Hi dx,

 

Thanks for the information.

I used the spreadsheet here as it seemed closest to my situation => StatIntSheet v101.xls

 

Both of the figures for the revised (A) and (B), are different from my initial calculations.

 

The interest works out to be more i.e (A) = £201.00 and (B) = £208.80

 

The results are below:

 

Summary (A)

Total PPI Owed £232.77

New 8% Stat Int. £201.00

New Total figure £433.77

 

Summary (B)

Total PPI Owed £241.81

New 8% Stat Int. £208.80

New Total figure £450.61

 

 

Did I do it correctly?

I have uploaded the files for your perusal.

 

Regards.

[dx100uk]

all looks correct

 

what about the CISHEETS for when they did levy int?

 

dx

[AdvS1]

Hi dx,

 

Thanks for that.

It shows that I am on the right track

 

Regarding the levy interest, I'm not sure what you mean.

Is CIS applicable too?

 

Can you explain a little further as I don't know what information to include?

 

Regards.

[dx100uk]

CIS?

 

dx

[AdvS1]

Yes, and if they are applicable in my case.

 

Regards.

[dx100uk]

what is CIS>

 

dx

[AdvS1]

Oh, sorry.

I was referring to when you mentioned CISHEETS.

[dx100uk]

ah sorry

 

you should use the cisheet at their int rate [cell d15]

 

put in every PPI payment.

close the sheet the day the policies closed

 

[same day as statint starts]

 

dx

[AdvS1]

Ok, thank you.

Will look into tomorrow when my head is clearer

 

Warmest!