PPI Reclaiming Discussion part 4

di3004

h0pusp0pus wrote: »

thanks di you were right (not that i doubt your wise words but i double checked with egg just in case

That's fine, best to double check to save any come backs later on.;)

di3004

chester1976 wrote: »

thanks, at the minute the only figures i have are
loan 1 £5000 july 1998
total ppi 966.69
partial rebate 518.02
loan was active for 12 months and refinanced to
loan 2 £7000 july 1999
total ppi 1555.92
partial rebate 395.35
loan was active for 27 months
daft i know but i cant get my head around trying to calculate it:o, fingers crossed its enough to pay off some very longstanding CC debt
thank you in advance if this is enough info for someone to help me out with calculations:D

I am not good at workings out myself, but what they generally do then it minus the rebate from the total rebate, your left with that amount, so whatever amount your left with, you should then be given an additional payment of 8% simple interest on the amount you paid for the policy during the period it was active.

Also if you settled early, they will calculate the difference between the settlement balance you paid and what the settlement balance would have been if you not taken out the ppi.
They will pay you that difference of the amount with an additional payment which represents 8% simple interest.

I am going along with what my letter says, here's mine below to give you an idea, and of course your interest will be a good amount too as from the dates you taken the loans out etc.;) Mine were from loans taken out 1999 to 2001, one to take out the other like yours.

Mine here of the 2 recent cases........

Thank you for your patience while I have calculated your refund on the Loan Protection Insurance Policy on the above loan. I have received your signed acceptance slip and can now confirm the details of your final refund. I have calculated your refund so that you are put back in the position that you would have been had you not taken out this policy.

We processed your refund upon the receipt of your acceptance. If you have not received this payment please allow up to 21 days for the refund to reach your account.

Your refund will include the following;


Loan number ********


1) £310.43 - this is the amount I have calculated that you paid for the policy during the policy was active. When making this calculation I have only taken into account the actual payments you have made.

2) £279.43 - This is an additional payment of 8% simple interest which we have calculated on the amount that you paid for the policy during the period it was active.

As you settled your loan early, I have also calculated the difference between the settlement balance you paid and what your settlement balance would have been if you had not taken out the policy.
We will pay you the difference of £173.34 with an additional payment of £143.29 which represents 8% siimple interest. I have calculated your refund in accordance with the Financial Ombudsman Service guidelines.




(Next loan ppi refund)

Loan number ********

Wording on letter the same as above.

Your refund will include the following:

1) £268.48 - this is the amount that I have calculated that you paid for during the period that the policy was active. When making this calculation I have only taken into account the actual payments you have made.

2) £214.40 - this is an additional payment of 8% interest which we have calculated on the amount you have paid for the policy during the period it was active.

As you settled early, I have also calculated the difference between the settlement balance you have paid and what your settlement balance would have been if you had not taken out the policy.
We will pay you this difference of £432.06 with an additional payment of £330.59 which represents 8% simple interest.

I have calculated your refund in accordance with the Financial Ombudsman Service guidelines.
__________________

chester1976

:Athank di, that makes more sense now, was driving myself crazy trying to work out figures from the offer letter from lloydstsb.
so many helpful people on this forum, would never even of thought of trying to claim if i had not read this thread

amersall

chester1976 wrote: »

:Athank di, that makes more sense now, was driving myself crazy trying to work out figures from the offer letter from lloydstsb.
so many helpful people on this forum, would never even of thought of trying to claim if i had not read this thread

We have our uses dont we Di :D;)

di3004

Not a problem Chester oh yes we do amersall :j:D, lol I had the details in front of me so am glad it helped.:D:T

amersall

When i saw your post i thought oh my god :eek::eek::eek::eek::eek:

Yay Di can do calcs :D:D:D:D:D

di3004

amersall wrote: »

When i saw your post i thought oh my god :eek::eek::eek::eek::eek:

Yay Di can do calcs :D:D:D:D:D

Really?:eek::eek::D:D:rotfl::rotfl::rotfl: that will be the day :rotfl::rotfl::rotfl: a miracle has happened pmsl :rotfl::rotfl::rotfl:

amersall

di3004 wrote: »

Really?:eek::eek::D:D:rotfl::rotfl::rotfl: that will be the day :rotfl::rotfl::rotfl: a miracle has happened pmsl :rotfl::rotfl::rotfl:

:p:p:p:p:p:p you bet it will :rotfl::rotfl: same here :D

di3004

amersall wrote: »

:p:p:p:p:p:p you bet it will :rotfl::rotfl: same here :D

1 + 1 = 2 yay :T:T:T:rotfl::rotfl::rotfl: pmsl

gyspy_agate

Can i make claim if loan was before 2004 uncertain if i can start claim