PPI Reclaiming discussion Part III

di3004

marshallka wrote: »

I will wait and see what LLoyds come back with but I want the £3+ K back....

Just going to work my firstplus one out using the method that FOS used and BRB...

This is where I am stuck, do not know whether to continue to send mine back to them or not, because I know I will be waiting many weeks before I even hear anything again and it will be 4 times.......:eek: .

di3004

maxdp wrote: »

Night all

Really exhausted tonight. All that crying today I think Some people look lovely when they cry I look even worse than normal, it is not a pretty site:j I go blotchy and I put the wrong Mascara on today.

Oh well tomorrow is another day:p Talk tomorrow.

Bless you hun, there is nothing wrong with you.;) :A .

I bet you are Whacked out Maxdp, I'm not surprised, attending a funeral I know is very tough and heartbreaking, it takes it all out of you, and that's before you carry on with the rest of the day.

Sleep well hunni, catch you tomorrow then.;) :A xxx

di3004

marshallka wrote: »

Been in contact for a couple of weeks maxdp... just waiting til January..;)

I was told Jan too.;)

marshallka

Right Firstplus loan here


Loan 17000
PPI 4163
Repayments 281.25
PPI element 55.29
Repayments 160 x

Total cost of loan = 39 x 281.25 = 10968.75 +
Settlement 20410.75 = £31379.50

Loan if never had the PPI being 225.96 x 39 = 8812.44 + 16544.95 settlement = 25357.39

Take a from b and get the misselling here of 6022.11 plus statutory interest of £8808.28

So actual charge for 39 months of PPI was £6022.11 and it would have been right to charge £2705.94 being 39 months of (4163 divide by 60= 69.38) of 69.38 being 2705.94 so the actual amount of £3316 was overcharged and a unfair penalty plus the statutory interest of £1534.17 = £4850.17. If they take 22% for admin etc it still works out as £2586.48 plus stat interest of 1196.83 = £3782.43....


I know this is confusing but I know my claim is around about £4K here..

marshallka

maxdp wrote: »

Night all

Really exhausted tonight. All that crying today I think Some people look lovely when they cry I look even worse than normal, it is not a pretty site:j I go blotchy and I put the wrong Mascara on today.

Oh well tomorrow is another day:p Talk tomorrow.

Night maxdp, I hope you feel better tomorrow... Its a sad time and it was only a couple of weeks ago I was the same. My daughters god mother and all and it was suicide too. So sad...

marshallka

di3004 wrote: »

This is where I am stuck, do not know whether to continue to send mine back to them or not, because I know I will be waiting many weeks before I even hear anything again and it will be 4 times.......:eek: .

I am trying with the FOS first for how ever long it takes and as a last resort I will do it... Just hope FOS come up trumps really...;)

di3004

marshallka wrote: »

Right Firstplus loan here


Loan 17000
PPI 4163
Repayments 281.25
PPI element 55.29
Repayments 160 x

Total cost of loan = 39 x 281.25 = 10968.75 +
Settlement 20410.75 = £31379.50

Loan if never had the PPI being 225.96 x 39 = 8812.44 + 16544.95 settlement = 25357.39

Take a from b and get the misselling here of 6022.11 plus statutory interest of £8808.28

So actual charge for 39 months of PPI was £6022.11 and it would have been right to charge £2705.94 being 39 months of (4163 divide by 60= 69.38) of 69.38 being 2705.94 so the actual amount of £3316 was overcharged and a unfair penalty plus the statutory interest of £1534.17 = £4850.17. If they take 22% for admin etc it still works out as £2586.48 plus stat interest of 1196.83 = £3782.43....


I know this is confusing but I know my claim is around about £4K here..

Crikey its quite a bit isn't it?
Something that should not be forgotten about, as you know not to, I would have to keep on trying for this as well if it were mine, golly its a lot and they ripped you off here didn't they ?:eek:

di3004

marshallka wrote: »

I am trying with the FOS first for how ever long it takes and as a last resort I will do it... Just hope FOS come up trumps really...;)

Hope you really win this hun and mine with it being a lot lower, I'm wondering now if its really worthwhile me going through this again on mine....

Think its time to email HFC to nudge them about this ppi document again !

di3004

Just emailed HFC, an automated response from Mr JS, he is away until Jan 5th, and left another contact name, so I figured out the email addy and forwarded the email to her, hope they get back, I even suggested this document can be sent by email attachment if they are able to do this.

Do you think that should be a problem?:rolleyes:

Also asked them to confirm this. Fingers crossed.;)

maxdp

marshallka wrote: »

To demonstrate the difference between simple and compound interest, take an example of a £1,000 loan for 2 years with an interest rate of 10% per year. If you were to repay this loan at the end of the two in one payment, you would owe £1,200 if you calculated the interest using simple interest. This is calculated:

An example of compound interest v simple interest

Year One: £1,000 x 1 year x 10% =£100
Year Two: £1,000 x 1 year x 10% =£100
Total Interest paid:£200
Principle Repaid:£1,000
Total Payment at the End of Year Two:£1,200

If the interest compounded annually, you would owe £1,121:


Year One: £1,000 x 1 year x 10% =£100
Year Two: £1,000 x 1 year x 10% =£110
Total Interest paid:£210
Principle Repaid:£1,000
Total Payment at the End of Year Two:£1,210

Notice how with compound interest, in the second year you pay interest on your interest but with simple interest you only pay interest on your principle.

(clever aren't I (NOT!!) I got it from here):p

http://www.personal-loans-broker.co.uk/simple_compound_interest.html

Just had bath feel better now.

Marshallka

That was what I was meaning with my MBNA Credit card charges that they paid back to be. I got about 500 more back (I think) that I was expecting using the bank calculator.




I am writing further to our conversation today.

As requested, please find attached a breakdown of the PPC premiums charged to your account along with the associated interest. To confirm, the PPC refund which has been credited to your account is £1767.33 along with associated interest totalling £1164.46.


Date PPC premium Interest
01/11/03 £30.19 £0.57
01/12/03 £28.94 £1.12
01/01/04 £28.72 £1.68
01/02/04 £28.64 £2.25
01/03/04 £28.57 £2.82
01/04/04 £28.71 £3.41
01/05/04 £28.82 £4.02
01/06/04 £35.29 £4.75
01/07/04 £36.30 £5.52
01/08/04 £34.63 £6.28
01/09/04 £34.60 £7.04
01/10/04 £35.51 £7.84
01/11/04 £33.79 £8.62
01/12/04 £34.66 £9.43
01/01/05 £33.12 £10.23
01/02/05 £33.03 £11.04
01/03/05 £33.19 £12.58
01/04/05 £33.13 £13.52
01/05/05 £33.02 £14.49
01/06/05 £32.97 £15.48
01/07/05 £32.85 £16.48
01/08/05 £32.82 £17.50
01/09/05 £32.66 £18.54
01/10/05 £32.58 £19.60
01/11/05 £32.48 £20.68
01/12/05 £32.34 £21.78
01/01/06 £32.25 £22.90
01/02/06 £41.23 £24.24
01/03/06 £41.01 £24.57
01/04/06 £40.56 £25.92
01/05/06 £41.86 £27.33
01/06/06 £40.33 £28.74
01/07/06 £40.18 £30.17
01/08/06 £40.13 £31.62
01/09/06 £40.01 £33.11
01/10/06 £39.85 £34.62
01/11/06 £39.97 £38.47
01/12/06 £39.54 £40.19
01/01/07 £39.55 £41.09
01/02/07 £42.09 £42.93
01/03/07 £41.71 £43.59
01/04/07 £41.27 £45.47
01/05/07 £41.21 £47.38
01/06/07 £40.79 £49.33
01/07/07 £40.59 £51.31
01/08/07 £40.52 £53.34
01/09/07 £40.42 £55.41
01/10/07 £40.47 £56.66
01/11/07 £40.23 £58.80
Total £1,767.33 £1,164.46


See what I mean that was what I was trying to explain when I originally posted it. It was much more than one would normally work out.