PPI Reclaiming discussion Part III

booi666

marshallka wrote: »

The PPI refund I have asked him to do for me I can work myself exactly the same way as the FOS and Co-op. As you know I did argue this one and got numerous emails from the adjudicator saying that this is the exact way that they would expect a firm to offer a refund and in line with not having the PPI at all. I did not need a spreadsheet to do this.... .

I used the rule of 78 calculator though...;)

Marsh,

How can you like working figures out,

Ive been trying to work out whats going on wi mine and im ready to hit the bacardi:eek:

marshallka

This is a post about tiggraes calculation method....

She posted this some time ago





they're really not that hard to work out - you just divide the PPI total by the total repayable (including the PPI amount) this gives the percentage the PPI is - then you work out what value the percentage is of the monthly premium
for example loan + interest is 58000 - ppi + interest is 12000
paying back at 84 months at 833.33 per month - paid 50 monthly repayments

total loan + ppi = 70000 - the ppi is 17.14% (12000 / 70000) x 100
17.14% of £833.33 = £142.83 (833.33 x 17.14) / 100

50 x 142.83 £7141.64 paid to date

marshallka

booi666 wrote: »

Marsh,

How can you like working figures out,

Ive been trying to work out whats going on wi mine and im ready to hit the bacardi:eek:

Worked in chartered accountants and did accounts for 14 years...;)

booi666

Marsh,

Trying to get my head around this,

If my balance at 21/11 07 was £6519.00

payments made up to dec 08 -£6519.32 comes to £2893.32

Where does a total amount payable come into it as of jan 09 of £5156.59

marshallka

booi666 wrote: »

Marsh,

Trying to get my head around this,

If my balance at 21/11 07 was £6519.00

payments made up to dec 08 -£6519.32 comes to £2893.32

Where does a total amount payable come into it as of jan 09 of £5156.59

Interest, settlement fees, etc....

What date did you take this loan....

booi666

marshallka wrote: »

Interest, settlement fees, etc....

What date did you take this loan....

dec 2006.

On top of the £2893 i added roughly 2yrs interest £120 discharge +2months payments,

Is that roughly how they do it?

marshallka

booi666 wrote: »

dec 2006.

On top of the £2893 i added roughly 2yrs interest £120 discharge +2months payments,

Is that roughly how they do it?

Was this 6519.32 net of interest.... Its a big difference.... I am just cooking sunday lunch but will have a look later...;)

booi666

marshallka wrote: »

Was this 6519.32 net of interest.... Its a big difference.... I am just cooking sunday lunch but will have a look later...;)

Im not sure,it just says balance carried forward of £6519.10

After 11 more payments of £2850.91 my closing balance is £4918.80

Judging by this i would presume that the interest and all other charges are included but i wouldn't know,

But saying that having a play around with the figures suggests not:eek:

And thank you

NickProv

Yes its still active with a long way 2 go

di3004 wrote: »

Hi Nick

Is this loan still active hun?

To save me looking back on posts hope you don't mind me asking.;)

NickProv

I hav epaid in total in my working out on average £3847 but the money i pay back keeps going up and up, not sold sure how much I should be trying to ask 4 back

Please help Nick

di3004 wrote: »

Hi Nick.;)

Another FP ???:eek: blimey they must have the highest amount of complaints yet.......

So when exactly did you take out this loan hun?

, I know you say 40 months, it will take me 6 of those to work that out.....:o , however, when Marshallka has 5 I'm sure she will take a look, or someone will anyway.;)

Yes also claim the 8% of what a court would award.

Di