StressHead's Reclaiming PPI from EGG Loan Thread

[StressHead]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Right, SAR request ready to go and I've emailed Niddy the CCA so that he can remove personal details and then post here. Many thanks all.

[Never-In-Doubt]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Turbo,

Cheers matey. Appreciated. I do have guides for this but they're on the website at the moment cos I'm testing a plug-in Photoshop editor which forum BB code doesn't accept. Bear with me on this, as I say I do have guides but at the moment they're on hold cos people usually email me agreements which is quicker for everyone.

However, thats because we didn't want 100's of agreements posted - we've got a section to upload them which will eventually create an agreement database. Lots to do, but it's early days yet! We're only 6mth old!

[StressHead]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Crikey! I didn't realise that you guys were only 6 months old. Thanks for all your help. Much appreciated. I'm feeling very positive about the whole thing today... yippee! Have actually managed to concentrate on work for a few hours and have now done 13% of my monthly target in a day... just need another 7 days like today for 100%! he he

[di30]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Good one!

You have done fab here, keep up the great work.
And fingers crossed for a good promising outcome.

[Never-In-Doubt]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Click my username and see the join date! August last year!

Yep - getting there, slowly but surely!

[Never-In-Doubt]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Your documents are attached below....

[Turboman]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Ok

We have

• Date of agreement= 7/9/2006
• Date of first payment =16/10/2006
• Term of 84 months
• Cash Loan = £25,000 with monthly payment of £397.09
• PPI Single Premium Loan = £6,086.7 with monthly payment of £96.68
• TOTAL of both above = £31,086.75 with monthly payment of £493.77

Therefore we calculate the "Apportionment Factor " to apply to ALL PAYMENTS & INTEREST & BALANCES relative to the PPI portion as PPI Loan divided by Total Loan as 19.579%

Right---got most of the info (in future I don't always need to see the agreement---just some specifics re the sums side which me & Niddy can agree a proforma & a Sticky so people know what I want)

I now need :

• How many payments actually made with AMOUNT & DATE PAID (easy if straightforward loan in mid term)----harder if missed payments and arrears
• Refunds paid
• rebates made if Loan settled
• current outstanding balance & date
• current contracted total monthly payment
• whether active or settled loan

+ anything in any letters you have re sums (dont matter about %'ge increases as I will appoertion all monthly payments in ratio of 19.579% (excl rebates depending on....)

Right---give me a rough idea what you got-and I'll post a SS/PDF I use which shows you where I am going

[Turboman]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Di,

All detailed here: #89

Basically the PT's on the agreement are non compliant with s.18 CCA1974 so we need to look at a reclaim of mis-sold PPI as the customer was told that without PPI there would be no loan, which we both know is a major breach of selling the PPI.

It was from 2006.

Thanks Di....

Just genning myself up while waiting for more stuff from Stresshead

Why do you conclude that this agreement is unenforcable Niddy?---its not my bag--but interested your reasons?

Also----for peoples general benefit---when claiming---we ask for redress from the lender---we do NOT ask for specific amounts--my sums could be under for instance-lol


My role in these situations is to

• either checkout peoples offers
• or give some predicted sum as to what is at stake

but--we do not send our spreadsheets with the claim

There is usually an assumtion that people just claim the up front premium--this is not correct--you can only claim "what you have paid so far" + a restructuring of the loan going forward with a reduced payment

I'll wait till this afternoon to see if Stresshead got any info for me re payments from his bank statements (as opposed to Loan Statements which I don't think he has)..--tthen I'll compose a spreadsheet

Re the outstanding balance on the first attachment of £22,902.71

Is that the true balance from Egg OR have loads of charges been added by Activ C... for "managing the debt"?

[StressHead]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Just genning myself up while waiting for more stuff from Stresshead

Why do you conclude that this agreement is unenforcable Niddy?---its not my bag--but interested your reasons?

Also----for peoples general benefit---when claiming---we ask for redress from the lender---we do NOT ask for specific amounts--my sums could be under for instance-lol



My role in these situations is to

• either checkout peoples offers
• or give some predicted sum as to what is at stake

but--we do not send our spreadsheets with the claim

There is usually an assumtion that people just claim the up front premium--this is not correct--you can only claim "what you have paid so far" + a restructuring of the loan going forward with a reduced payment

I'll wait till this afternoon to see if Stresshead got any info for me re payments from his bank statements (as opposed to Loan Statements which I don't think he has)..--tthen I'll compose a spreadsheet

Re the outstanding balance on the first attachment of £22,902.71

Is that the true balance from Egg OR have loads of charges been added by Activ C... for "managing the debt"?

Hi Turboman,

Niddy explains on my Diary why it's UE, http://forums.all-about-debt.co.uk/s...?t=1413&page=5 Post #89. Hope this helps?

I haven't got any information on repayments etc, only the letters chasing for payment. I think I may have thrown all the statements away a few years ago, God knows why, but I can't seem to find them anywhere. I sent off for my SAR yesterday. Will you be able to use the information that they send back to me? I do also have some bank statements that I can use to look for payment dates/amounts but I don't have them for the whole period that I had the account for. I think it's best to wait for the SAR.... what do you think? I'll also write to Barclays and ask for copies of all my bank statements for the relevant dates so that we can see all payments made.

I think the amount stated by Aktiv Kapital of £22902.71 is the true amount because the last letter I have from EGG is dated 24/11/08 was for £26828.23 and the last letter I have from Aktiv Kapital dated 11/02/11 was for the £22902.71. I have been making token payments from March 2009 until Feb 2011 via my DMP.

Hope all this info helps and FYI - I'm a she, not a he! ha ha

Thanks, SH

[Turboman]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Hi Turboman,

Niddy explains on my Diary why it's UE, http://forums.all-about-debt.co.uk/s...?t=1413&page=5 Post #89. Hope this helps?

I haven't got any information on repayments etc, only the letters chasing for payment. I think I may have thrown all the statements away a few years ago, God knows why, but I can't seem to find them anywhere. I sent off for my SAR yesterday. Will you be able to use the information that they send back to me? I do also have some bank statements that I can use to look for payment dates/amounts but I don't have them for the whole period that I had the account for. I think it's best to wait for the SAR.... what do you think? I'll also write to Barclays and ask for copies of all my bank statements for the relevant dates so that we can see all payments made.

I think the amount stated by Aktiv Kapital of £22902.71 is the true amount because the last letter I have from EGG is dated 24/11/08 was for £26828.23 and the last letter I have from Aktiv Kapital dated 11/02/11 was for the £22902.71. I have been making token payments from March 2009 until Feb 2011 via my DMP.

Hope all this info helps and FYI - I'm a she, not a he! ha ha

Thanks, SH

Yes-readpost 89 but couldn't see what the point was.

Yep--gimme what you got--looks like you not paying interest ?????

Sorry-Ms Stresshead!!

Well---re waiting for SAR decision---theres 2 schools of thought here

• Claim mis-sold PPI without the SAR stuff quoting appropiate reasons
• or wait for SAR so you got full record of discussions on telephones which may assist your case ( or cause you to restructure it)

I know it drags it out a bit with SAR--but you are going to have everything then----including any penalty charges applied to account for missed payments which also can be claimed (as its a loan not a bank account)---For this though---NEVER mix the 2 up in the same letter as invariably Charges & PPI are different departments at the lender & they often muck you about claiming it hasn't been passed on--SO treat the two differently & separately ---Di will advise re letters etc once we have the statement info & rest of SAR stuff.

I'll give it till 4:00 for any more sums from your statements then a spready.

I just want DATE & AMOUNT paid (actually paid -not paid & then bounced back btw)

[Never-In-Doubt]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

The point is it fails s.18 as per the examples given. There should be two parts of prescribed terms, there isn't ergo it's unenforceable.

Read the links, it's actually easy to grasp matey - even stress sussed it out quite quickly! Basically, they messed up cos there is no separate mention of apr and monthly rate/repayment etc for the ppi element of the cash loan.

ps stressed is a "she" I think!!?

[StressHead]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Right, I'll have a look through the bank statements I have and give you dates and amounts of payments. I'm away with work until the weekend though so I won't be able to do anything before then.

Re. late charges on loans, are you saying that they cannot charge late payments? It's just because I have another loan with late payment charges on it so could I claim these back too?

Thanks.

[StressHead]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

The point is it fails s.18 as per the examples given. There should be two parts of prescribed terms, there isn't ergo it's unenforceable.

Read the links, it's actually easy to grasp matey - even stress sussed it out quite quickly! Basically, they messed up cos there is no separate mention of apr and monthly rate/repayment etc for the ppi element of the cash loan.

ps stressed is a "she" I think!!?

I was a 'she' last time I checked!! However, if I have turned into a 'he' over night, then I could sell my story and use the money for F&F's! Damn it... no such luck... I'm still a she! ha ha

[Turboman]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Right, I'll have a look through the bank statements I have and give you dates and amounts of payments. I'm away with work until the weekend though so I won't be able to do anything before then.

Re. late charges on loans, are you saying that they cannot charge late payments? It's just because I have another loan with late payment charges on it so could I claim these back too?

Thanks.

that is true----the OFT bank charges court claim was just about Bank Charges not Credit Card or Loans--start a new thread and me & Di will look at your charges in a SS---can't remember what the legal law bit you quote-but by the time you post on a new thread --- me or Di will have found the CURRENT template to use from here if its here -or elsewhere if necc

[Turboman]

Re: StressHead's Reclaiming PPI from EGG Loan Thread

Right, I'll have a look through the bank statements I have and give you dates and amounts of payments. I'm away with work until the weekend though so I won't be able to do anything before then.

Thanks.

Thats ok--I'll post up a thread on Concept of 2 Loans and Apportionment in meantime so you see where I'm going with the sums----PPI is so so simple once you understand the apprtionment principal---the only complications are treating refunds & rebates differently ---if you got any