PPI Reclaiming discussion Part III

tylerlewis

marshallka wrote: »

I need to know how much the PPI actually is on each loan and the interest etc...

Just found agreement for 2nd loan

Amount of credit for PPI £627.09
Interest on PPI £475.95
Total £1103.04

Amount of credit £2500
Interest on credit £1897.28
Total £4397.28

Cant find details on 1st loan.

Turboman

marshallka wrote: »

ALready asked this one Turbo;)

Still waiting for the reply as nothing can be looked at from the figures above.

lol--told you I was having trouble adjusting to this multi-case type thread:D

tylerlewis

Turboman wrote: »

Hi Tylerlewis

Are those figures the total premium--if so do you have the 2 constituent premiums

a) the main loan advance
b) the PPI mothly premium

Has the interest rate remained fixed throughout?

Turbo

I asked HFC for the monthly figures but they said they couldnt tell me. They could only give me what the total is ive paid so far.

Based on this I'm guessing :

Total paid so far on 1st loan £1261.69
Have made 42 payments
1261.69 / 42 = £30.04 a month

2nd loan is £1103.04 / 48 months = £22.98 a month

di3004

marshallka wrote: »

Yeah, DI and me differ on this one. I have posted so many times about these refunds when there is still a balance on the loan and from the which report is states that if there is a balance on the loan then you are allowed back a cheque for what you have psysically paid out of your own pocket. Then the loan redone without the PPI and whatever was owing on the PPI plus the interest taken off the balance. The loan should then be redone at the same APR and over the same terms.

I cannot see how they would actually refund you in cash what you have not actually paid out in cash...

Well done at winning....

Come to think of it Marshallka, I see your point here, I should make sure with every poster who posts about this first, I think this is probably because with mine they were settled, and that is why we were refunded the whole lot.;)

I will get it right - one day lol

di3004

Turboman wrote: »

lol--told you I was having trouble adjusting to this multi-case type thread:D

Hi turbo

Hope your okay, and thanks for your lovely post over at the PAG as well.:A X

di3004

Fifi

Also a Well done from me as well.:T :beer: XX

Turboman

tylerlewis wrote: »

I asked HFC for the monthly figures but they said they couldnt tell me. They could only give me what the total is ive paid so far.

Based on this I'm guessing :

Total paid so far on 1st loan £1261.69
Have made 42 payments
1261.69 / 42 = £30.04 a month

2nd loan is £1103.04 / 48 months = £22.98 a month

Cheers--I'll analyse them later on this evening--I'm used to working on spreadsheets so I'll see where we are--however--I normally like to see the full statement so far which details the actual monthly interest charged each month and the monthly interest APR (invariably a lot of these loans are not fixed but variable--usually upwards in First Plus case

Turbo

di3004

Turboman wrote: »

Cheers--I'll analyse them later on this evening--I'm used to working on spreadsheets so I'll see where we are--however--I normally like to see the full statement so far which details the actual monthly interest charged each month and the monthly interest APR (invariably a lot of these loans are not fixed but variable--usually upwards in First Plus case

Turbo

Good one Turbo.;)

Is it quiet OTR?

marshallka

Turbo...



You cannot work anything out though without the settlement figures for this loan - you would need to know how much of a rebate was made, if the loan went to full term, how much of the interest was refunded in the settlement and also what method of settlement was used.

Its obvious what the amount would be if the loan ran to full term - its £1103.04 but how can you work them without the above.

Turboman

di3004 wrote: »

Good one Turbo.;)

Is it quiet OTR?

Yes -- a bit quiet Di--just as well as I've been working nearly full time on the Firstplus & the Mortgage case--I need a break so this is good for me.

I can contribute here--but everybody is not relying on me here - as Marshallka is well versed and I hope to pick up more tips.

When I've found my feet and concentrate on a particular case -- I hope to contribute more here.

(Might just slip over to PCF to make sure my "Music Sanctuaries" are being looked after:D