PPI Reclaiming Discussion part 4

amersall

STW27 wrote: »

many thanks - fully intend on taking it all the way, just need to get it organised....so if anyone else is reading this then please follow my progress....just need to work out these damn figures !!!:-)

Hi there and good luck with this.As for figures you get ppi monthly amount paid to date with interest, the loan is reset with the same term and apr and your monthly repayment reduces by the monthly ppi amount. As di says you do not need these figures, remember though that you dont get ppi back you have not yet paid, keep us posted.

amersall

showergirl wrote: »

Hi everyone,

Hope you are all ok.

I wonder if anyone can give me some help.

A friend took out a loan with the Halifax for £5000 and then topped up this loan. She is paying through a DMP and has no paperwork. Will she still be able to claim the ppi and how does she get copies of her agreements.

Any help would be great.

Hi showergirl hope alls well with you and yours xx

STW27

amersall wrote: »

Hi there and good luck with this.As for figures you get ppi monthly amount paid to date with interest, the loan is reset with the same term and apr and your monthly repayment reduces by the monthly ppi amount. As di says you do not need these figures, remember though that you dont get ppi back you have not yet paid, keep us posted.

Cheers - understand what you are saying, just wanted to try and work out what I could possibly ask for if they come back and say £ xxx and I decide its not a fair offer so basically wanted to know how much i had paid so far and how much i could get back with the interest etc

amersall

STW27 wrote: »

Cheers - understand what you are saying, just wanted to try and work out what I could possibly ask for if they come back and say £ xxx and I decide its not a fair offer so basically wanted to know how much i had paid so far and how much i could get back with the interest etc

Some one i am sure will help you with figures.
We need the loan start date, the monthly ppi amount, and the interest.

STW27

amersall wrote: »

Some one i am sure will help you with figures.
We need the loan start date, the monthly ppi amount, and the interest.

Hi Amersall - please see my original post below with all figures, ANY help would be really appreciated - thankyou !!

Originally Posted by STW27
Hello everyone,

First if I am in the wrong forum then sincere apologies

Okay so I want to make a claim and try and get back some money from my missold PPI. I have gone through the article, watched the video and downloaded the templates etc.

Unfortunately I am a little confused as to how much I could possibly claim as the figures stated in my agreement are a little confusing to me hence why I am in this mess I suppose.

Okay so let me list these figures for you all - any help you can give would be greatly appreciated !!

Original amount borrowed = £10,000
Amount of credit for Protected Payments Plan = £1,687.50
Total amount of credit £11,687.50
Monthly repayment £146.24 (this has now increased to £160.22 since its been running since September 2007
Duration of agreement = 180 months (yes I know, 15 years...I don't know what I was thinking)
APR Variable 13.6%

Now here is the rest of the information:-

Cash price of Protected Payments Plan = £1,687.50
Total charge for credit consisting of :-
Interest = £13,385.70
Broker Fee = £1,000
Application Assessment and Completion Costs £250.00
Total = £14,635.70

Annual rate of interest (variable) 10.90%

So, as you can see I have been extremely foolish and I'll be paying for a long time which is my problem but I would like to if possible claim some of this back as it definately wasn't sold fairly (again my problem for not seeking advice prior to taking the loan). I just cant for some reason work out what I could possibly claim back with if successul with the above figures....can anyone help me.....please???

Yours thankfully

Steve

di3004

Hi Steve

Robbedofmymoney is normally the one who deals with calcs in relation to this company, also others as well, but I will send him a message (PM), I understand he is working 12 hours at the moment, but he did leave me a pm to give any calcs for him to check on, and he will get back to you as soon as he can.;)

STW27

di3004 wrote: »

Hi Steve

Robbedofmymoney is normally the one who deals with calcs in relation to this company, also others as well, but I will send him a message (PM), I understand he is working 12 hours at the moment, but he did leave me a pm to give any calcs for him to check on, and he will get back to you as soon as he can.;)

You are a star! :A

amersall

STW27 wrote: »

Hi Amersall - please see my original post below with all figures, ANY help would be really appreciated - thankyou !!

Originally Posted by STW27
Hello everyone,

First if I am in the wrong forum then sincere apologies

Okay so I want to make a claim and try and get back some money from my missold PPI. I have gone through the article, watched the video and downloaded the templates etc.

Unfortunately I am a little confused as to how much I could possibly claim as the figures stated in my agreement are a little confusing to me hence why I am in this mess I suppose.

Okay so let me list these figures for you all - any help you can give would be greatly appreciated !!

Original amount borrowed = £10,000
Amount of credit for Protected Payments Plan = £1,687.50
Total amount of credit £11,687.50
Monthly repayment £146.24 (this has now increased to £160.22 since its been running since September 2007
Duration of agreement = 180 months (yes I know, 15 years...I don't know what I was thinking)
APR Variable 13.6%

Now here is the rest of the information:-

Cash price of Protected Payments Plan = £1,687.50
Total charge for credit consisting of :-
Interest = £13,385.70
Broker Fee = £1,000
Application Assessment and Completion Costs £250.00
Total = £14,635.70

Annual rate of interest (variable) 10.90%

So, as you can see I have been extremely foolish and I'll be paying for a long time which is my problem but I would like to if possible claim some of this back as it definately wasn't sold fairly (again my problem for not seeking advice prior to taking the loan). I just cant for some reason work out what I could possibly claim back with if successul with the above figures....can anyone help me.....please???

Yours thankfully

Steve

If we go by the amount of ppi 1,687.50 and share that over 180 months that equates to £9.37 a month so times that by the months you have paid this 36 months = 337.32 (dont know how to work out the interest on this as it is variable) as you will get that back as well and hopefully the 8% interest.I have noticed that you have a broker fee with this and you will need to write a mis sell letter to the broker as well as whoever it was gave you the loan.With a broker involved it is usually them that you claim from, but it doesnt hurt to put a letter in to the bank as well. Hope this helps, can i just say that the ppi you pay is a really small sum compared to some on here!!! we have all been there and done that with this ppi, but at least we are fighting back.I had ppi on a loan of 22000 so if you were daft how daft was i? Also you get the 1.687.50 off your loan and your monthly payment goes down too.

di3004

STW27 wrote: »

You are a star! :A

Your very welcome Steve.
I have pm'd Robbedofmymoney your details, and he will get back as soon as he can.:A X

di3004

amersall wrote: »

If we go by the amount of ppi 1,687.50 and share that over 180 months that equates to £9.37 a month so times that by the months you have paid this 36 months = 337.32 (dont know how to work out the interest on this as it is variable) as you will get that back as well and hopefully the 8% interest.I have noticed that you have a broker fee with this and you will need to write a mis sell letter to the broker as well as whoever it was gave you the loan.With a broker involved it is usually them that you claim from, but it doesnt hurt to put a letter in to the bank as well. Hope this helps, can i just say that the ppi you pay is a really small sum compared to some on here!!! we have all been there and done that with this ppi, but at least we are fighting back.I had ppi on a loan of 22000 so if you were daft how daft was i? Also you get the 1.687.50 off your loan and your monthly payment goes down too.

amersall, you done a great job too.......:T:T:T:beer:X