PPI Reclaiming Discussion part 4

Turboman

firstluv wrote: »

thank you very much for the explaination

From your PM

loan amount- £10000
APR- 7.9%
amount of credit Insurance £2123.76
duration of agreement 62months
total amount to pay for te cash loasn- £12225.60
total amount to pay for the insurance loan £2596.20
total amount fr the total loan- £14821.80
monthly payments £247.03

If PPI SPI Loan of £2,124 at 1/1/06 for 62 months @ 7.9% were to successfully claimed as mis-sold on 1/3/09

Premiums to be refunded--37 x 41.82 = £1,547-ish
8% on above = £187

TOTAL = £1,734

AND balance of PPI loan written off (approx £945)

leaving you with just the loan of £10,000 so premiums (assuming no interest changes) would then be £200-ish

Turboman

Lessard

Thanks for PM--your case of 2 settled loans more complex--will look at it tomorrow

Turbo

doingmybest_3

doingmybest wrote: »

I've recieved my statements today from Barclay's after asking them for the calculations that they used to work out the refund. Got the statements but no calcs :rolleyes: the figures do not look correct to me so would appreciate it if someone could have a look and tell me if they are right. I couldn't scan the page in so I had to type it in similar to how it's presented on the page.
I'll give you the part of the statement that is bothering me from the last payment (direct debit):

Original cash loan amount £55000.00
Original PPI Loan amount £13469.50
Original total Loan amount £68469.50
Loan agreement date 16/09/2005 over 20 years.

[html]

Date       Transaction Type                Debit        Credit       Balance
01/02/09 DDR-direct debit                                652.15      64264.62
01/02/09 #PD payment type            652.15                       64264.62
01/02/09 INT-interest                     529.78                      64794.40
04/02/09 DIS-discretionary payment  595.79                      64794.40
04/02/09 RIP-Rebate Ins Premium                      545.40      64249.00
04/02/09 DCP-discretionary rebate                  12924.10     51324.90
05/02/09 IAC-Interest adj                              3962.24     47362.66
06/02/09 RFD-Refund                     4681.86                   52044.52

[/html]
Sorry if it looks a mess but struggled to line it all up:eek:
What it looks like to me is that they paid back the PPI and the interest on that PPI to the loan, which what they were supposed to do. But it looks like
the refund which I recieved, (which is the overpayment - £4681.86) has been paid back into the loan amount. That is what doesn't make any sense. The whole idea was that I was put back into a position I would have been in if the PPI had not been taken out and according to their figures I have only paid off £2955.48 after 3 and a half years payments. Am I way of the mark or have they got this right

Very polite BUMP:cheesy:

Lessard

Turboman wrote: »

Lessard

Thanks for PM--your case of 2 settled loans more complex--will look at it tomorrow

Turbo

Thanks for taking the time to check it for me.

firstluv

Turboman wrote: »

From your PM



If PPI SPI Loan of £2,124 at 1/1/06 for 62 months @ 7.9% were to successfully claimed as mis-sold on 1/3/09

Premiums to be refunded--37 x 41.82 = £1,547-ish
8% on above = £187

TOTAL = £1,734

AND balance of PPI loan written off (approx £945)

leaving you with just the loan of £10,000 so premiums (assuming no interest changes) would then be £200-ish

thank you once again

showergirl

di3004 wrote: »

Hi there Showergirl

How are you?

Hope your well and how are the claims coming on ?

Thanks for posting your comment, its much appreciated.:A

Hi Di,

I'm fine, been busy at work.
The FOS wrote to Tesco asking for my file, so suppose I will have to wait to see what happens now. I will give them a ring at the end of the month to see if they have had anything back.
Will keep you informed.
I am pleased you are getting somewhere with your claim I hope it is good news for you:A

showergirl

Pinknico,

Have just read your post saying you won with Sainsbury Loan.
Could you tell me was this dealt with by the RBS.

Thanks

mlucyminx

bathgatebuyer wrote: »

Hi all - back to a letter from Egg agreeing to my offer to compromise at half of my PPI claim. Pretty happy with that as I've not heard of too many having successes with them!

Time to change the reclaim figure on my signature!

Congratualtions and I know you are perfectly happy to accept eggs offer but they have just been fined and I personally think if you were to hold out you would get the full amount back.

[Deleted User]

Hi there

I wonder if anyone can help, my OH mentioned the other day that he/we have PPI insurance on our credit cards (Lloyds, was Platinum card now Amex and Mastercard Duo). He has no recollection of ever being asked if he wanted this and we have no paperwork (OH has been with Lloyds for 20+ years)

I have read Martin's guide, but not sure a) if we have a case for reclaiming and b) where to start.

Do I write to Lloyds and ask them to send me a copy of the agreement and a breakdown of PPI charges on this account - I couldn't see a template letter for this.

Sorry if this has been asked 000's of times, but any advice would be appreciated.

Thanks

maxdp

Hi you lovely people

Can somebody please confirm for me the web site for the Ministry of Justice so that I can check on regulated claims companies/people.

Also if you need to make a complaint about a claims company/person is this where I would complain.

Many thanks:D