Hamilton/HFC/Endeavour - Reclaim PPI

[di30]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

And are you minded to accept that compo or go back to them and ask for more?

I'm not too happy about that to be honest TDS, I am going to try for more, if they come back with say £200 to £250 to me that is a lot better and more reasonable offer (with the circumstances behind this), although she did say we could get back to her, and they have not closed this, so at least that is something I suppose. :tinysmile_grin_t:
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So basically so far - which they say full refund with interest - £2619 plus £100 further redress.

[The Debt Star]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

I don't suppose the FOS would award more than their offer anyway TBH so if you can squeeze it out of them then all's well and good. We just don't want you compromising your settlement over it!

[di30]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

I don't suppose the FOS would award more than their offer anyway TBH so if you can squeeze it out of them then all's well and good. We just don't want you compromising your settlement over it!

Yeah thats about right.
If the FOS could have adjudicated this (as they were not regulated), they were also given false misleading feedback from them as well.
I will give it a another go though.

The thing I have here now is, as they have agreed and upheld our complaint, they could go back and say they done this with goodwill as they were not regulated (HFC/EPF) that is.

[Turboman]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

Blimey Di

You sent me all the paperwork back to 2005

You got a new filing system now and know where everything is? (at last--lol))

[di30]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

Blimey Di

You sent me all the paperwork back to 2005

You got a new filing system now and know where everything is? (at last--lol))

LOL, yeah glad i have kept them lol, came into some use afterall, the hoarder i am .
Most of the other paperwork is from a SAR though. LOL

[di30]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

I understand they calculate differently in regards of pre 2005 loans?
Is that correct?

[Turboman]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

My letter received today.




Dear Mr & Mrs

I write further to the Financial Ombudsman Questionnaire received on the 14 September 2011.

I note your complaint is in regard to the Payment Protection Insurance (PPI) being Mis-sold on the above reference account. I can cinfirm that we previously issued you with a response on 3 June 2008 declining your complaint as we believed at the time the loan was sold via a Broker in the name of Click Finance Limited and therefore EPF Limited was not liable for the sale of the insurance.

However, it has now come to light after an investigation by Central Complaints Department with regard to your complaint reference XXX/XXXXXXXX that EPF Limited sold the PPI policy. Please accept my sincere apologies for any inconvenience caused as this certainly was not our intention.

I have now completed my investigation into the issues raised and have made a decision to uphold the complaint.

As a result of my decision, it is not my intention to respond specifically to the individual issues that have been raised other than to explain how I intend resolving the matter.

I propose to offer an amount in full and final settlement of tha above complaint against EPF Limited. The figure will effectively return the payment protection premiums that have been paid to date including interest. Details of the offer are shown on the Acceptance of the Offer Form enclosed.

The offer includes an element of 8% statutory interest. Subject to an individual's personal tax status, this statutory interest may be taxable and if accepted should be included in an annual tax return. Andy queries regarding this, should be referred to the local HM Revenue and Customs Office (formerly known as the Inland Revenue).

Should you wish to accept this offer, please arrange for the Acceptance of Offer Form to be completed and returned to EPF Limited. Please note the offer will only be processed upon receipt of the signed acceptance form and the offer will remain open for six weeks from the date of this letter, after which time it will be withdrawn, unless it has previously been accepted.

This brings to an end the steps available to you through our internal complaints procedures, as this letter constitutes our final response.

Please note EPF accounts did not fall under the jurisdiction of the Financial Ombudsman Service prior to January 2005. As your complaint relates to an issue that happened before this date, we believe the Financial Ombudsman service will not be able to adjudicate on this matter.

Yours sincerely
Complaints Investigator.

Premims paid from 30/08/2004 to 30/10/2005 - £1,771.54
Plus Interest at 8% - £847.56
Total Refund - £2,619.00

Di---any further wording/detailed explanation re the red bit you ain't given me?

[di30]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

Di---any further wording/detailed explanation re the red bit you ain't given me?

No Turbo, but as i've done with the others, I will email them to you, should be with you shortly x

[di30]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

I take it you have received my emails turbo of the offer?

Not very thorough is it? just basic with no breakdown of how they come to that figure.

[Turboman]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

I take it you have received my emails turbo of the offer?

Not very thorough is it? just basic with no breakdown of how they come to that figure.

Its ok----going to put all your stuff into the SS we designed for Nellie & PF

and turn the handle-lol

[di30]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

Its ok----going to put all your stuff into the SS we designed for Nellie & PF

and turn the handle-lol

That will be great, thank you turbo x:tinysmile_grin_t:

[Turboman]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

Hi Di

Looked through all stuff you sent me-

Yep---Its a good offer----accept it!!

Initially you threw me with calling the £1,533 a Rebate (which is a loan rebate and apportioned at 11.8943% whereas a PPI REFUND is wholly deductable)

Anyway--heres my spreadsheet which shows

• PPI Payments of £1,650.85 cf theirs of £1,771.54
• 8% interest of £793.15 cf theirs of £847.56
• Total of ££2,444 cf theirs of £2,619

Explaing the basics Di

• First of all remember the monthly premiums are in ratio of PPI Loan: Total Loans-so this works out at 11.8943% in cell K6
• So lines 28-42 are your monthly payments with PPI element at £372.01 and 8% of £193.60 (as in row 24 and summarised in row 20)
• We then work out 11.8943% of your Settlement Figure of £23,646.04 (Rule of 78 -bit punitive with extra interest added of £1123.29 on 22/11/04 on your statements --but there you go)--this works out at £2,812.52 in cell E21
• This £2,812.52 is then reduced by your PPI refund of £1,533.69 giving £1.278.83 in cell I21 which then attracts 8% also of £599.55 in cell J21

I'll get Bill to see if he can work out why I'm £175 less than theirs
But its a good offer Di----which is what you wanted to know

Turbs

[di30]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

Hi Di

Looked through all stuff you sent me-

Yep---Its a good offer----accept it!!

Initially you threw me with calling the £1,533 a Rebate (which is a loan rebate and apportioned at 11.8943% whereas a PPI REFUND is wholly deductable)

Anyway--heres my spreadsheet which shows

• PPI Payments of £1,650.85 cf theirs of £1,771.54
• 8% interest of £793.15 cf theirs of £847.56
• Total of ££2,444 cf theirs of £2,619

[ATTACH]5378[/ATTACH]

Explaing the basics Di

• First of all remember the monthly premiums are in ratio of PPI Loan: Total Loans-so this works out at 11.8943% in cell K6
• So lines 28-42 are your monthly payments with PPI element at £372.01 and 8% of £193.60 (as in row 24 and summarised in row 20)
• We then work out 11.8943% of your Settlement Figure of £23,646.04 (Rule of 78 -bit punitive with extra interest added of £1123.29 on 22/11/04 on your statements --but there you go)--this works out at £2,812.52 in cell E21
• This £2,812.52 is then reduced by your PPI refund of £1,533.69 giving £1.278.83 in cell I21 which then attracts 8% also of £599.55 in cell J21

I'll get Bill to see if he can work out why I'm £175 less than theirs
But its a good offer Di----which is what you wanted to know

Turbs

Brilliant, thanks Turbo, thats fab xxxxxx

I just want them to up a little on the separate further redress now, the one they are dealing with separately for the distress and inconvenience, if they go to another £100 I will be happy.

[di30]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

What are you views on this folks?, as it seems they have given more going by the workings out by our Turbo. (which we are of course happy with).

So in regards of the further redress for the inconvenience, as they offered £100, do you think its fair due to that above, that I should ask for a further £100? to total = £200 to close the case completely?

I don't want to sound greedy, but they did let us down big time with false feedback since 2008. It taken all this time to resolve and much distress also down to health issues etc.

Cheers.

[TUTTSI]

Re: Hamilton/HFC/Endeavour - Reclaim PPI

Well you are £175 better off according to Turbs, so if you ask for a further £100 more it is strangely more like the figure I was thinking of. You have had a hell of a lot of stress hun and deserve every penny.

What are you views on this folks?, as it seems they have given more going by the workings out by our Turbo. (which we are of course happy with).

So in regards of the further redress for the inconvenience, as they offered £100, do you think its fair due to that above, that I should ask for a further £100? to total = £200 to close the case completely?

I don't want to sound greedy, but they did let us down big time with false feedback since 2008. It taken all this time to resolve and much distress also down to health issues etc.

Cheers.