PPI Reclaiming Discussion part 4

moneyangel22

Niggly wrote: »

moneyangel22 wrote: »

I was paying 42.49 towards the ppi part of the loan each month. The total loan interest was £758.99, so do I just work out 19/60 of that??

Loan 2 was £58.39 per month and total £1789.96.

Loan 1

PPI overpayments = £42.49 x 19 = £807.31
8% simple interest on each payment over 79 months = £716.38
PPI £1790.38-rebate £779.64 is £1010.74
£1010.74 x 8%/12 x 59 = £397.56

Total loan 1 is £2931.99

Loan 2

PPI overpayments = £58.39 x 14 = £817.46
8% simple interest on each payment over 60 months = £699.51
PPI £3114.80-rebate £2138.79 = £976.01
£976.01 x 8%/12 x 46 = £299.31

Total loan 2 = £2792.29

The tax liability of 20% for Basic Rate payer on £716.38+£397.56 +£699.51+£299.31 = £422.55

Net claim is £2931.99 + £2792.29 - £422.55 = £5301.73

:beer: n

Hi Niggly,

I have had my offer from Lloyds finally, however, I am confused as the figures in the breakdown dont look anything like yours!

Can you have a look at this and tell me what you think please?!!
:-)

Loan 1:
Refund of premiums £764.82
Interest at 8% to 31st October £364.35
Total refund £1129.17

Loan 2:
Refund of premiums £759.07
Interest at 8% to 31st October £336.89
Excess balance* £160.25
Total refund £1256.21

Loan 3: (They told me I did not have PPI on this!! I cancelled it when I wised up so think they were trying to pull a fast one!)
Excess balance* £996.58
Interest at 8% to 31st October £163.28
Total refund £1159.86

*Excess balance is an additional payment we offer to refund the extra amount you paid when you refinanced the loan/PPI which we are offering to refund. As your earlier loan included PPI the outstanding balance on that loan, which you carried over to the next loan, was higher than it would have been without PPI and therefore you paid a higher payment and more interest when making your repayments on the next loan. Our offer of the excess balance is a refund of the extra amounts paid by you with associated interest.


Please help!!

Thanks!! :-) :-) :-)

MattyA

johunter wrote: »

Hi Matty, I signed and returned my acceptance form on 27-9-11 I rang them on Monday to check they'd received it and was told they'd received it on 29-9-11 and to expect payment within 7-10 days. Payment (albeit wrong amount) went into my account yesterday 6-10-11.

Thanks for that Johunter - looks like they are taking the mick out of me.
Have chased em up again and am awaiting a call back - wont hold my breath.

debsclark17

Hi does anyone know if we can claim back the interest on ppi payments even though they have NOT upheld my complaint on misselling. Barclaycard assure me they do cover self-employed and up to the age of 70.
Can I claim back the interest paid on the ppi payments as surely this is unfair and unlawful.

any advice anyone ?
thanks

cappo

debsclark17 wrote: »

Hi does anyone know if we can claim back the interest on ppi payments even though they have NOT upheld my complaint on misselling. Barclaycard assure me they do cover self-employed and up to the age of 70.
Can I claim back the interest paid on the ppi payments as surely this is unfair and unlawful.

any advice anyone ?
thanks

Hi debs i think if they've rejected your claim they'll not give you anything back, if you have a rejection take it to the fos now, they'll sort it out.

tinkermcjingles

I bought a car back in 2005 from Vauxhall and got finance through GMAC. I have some paperwork which I think says I have PPI (but i don't have a signed copy). Do I just fill in the questionnaire and send it to GMAC?

I currently have another finance agreement with them for my new car. Would this make a difference?

Thanks in advance!

di3004

linziwigan wrote: »

I bought a car back in 2005 from Vauxhall and got finance through GMAC. I have some paperwork which I think says I have PPI (but i don't have a signed copy). Do I just fill in the questionnaire and send it to GMAC?

I currently have another finance agreement with them for my new car. Would this make a difference?

Thanks in advance!

Hi there

You should pursue the dealer as they were the ones who set up your finance, despite the paperwork of GMAC, because normally once your account is set up, the dealer will have sent the application to the finance lender where you would receive the finance lender paperwork.

So send the completed questionnaire to Vauxhall in your case with your reasons. Remember to keep copies.

It should not make any difference if you have another finance agreement or not.;)

Good luck.

di3004

debsclark17 wrote: »

Hi does anyone know if we can claim back the interest on ppi payments even though they have NOT upheld my complaint on misselling. Barclaycard assure me they do cover self-employed and up to the age of 70.
Can I claim back the interest paid on the ppi payments as surely this is unfair and unlawful.

any advice anyone ?
thanks

Hiya

Was this the full and final response?

And did they mention the FOS?

di3004

chrisja1000 wrote: »

Sorry if already posted, but I hace an egg credit card that I'm sure I was misold PPI, has anyway found a contact address I can send a SAR request.

Many Thanks

Hi there

Found the link to EGG, maybe the details of contact you require are on there, but otherwise email them or ring to make sure, good luck.

And remember as well, you can still make a reclaim complaint without the paperwork if you know you were sold the ppi with your credit card.

http://new.egg.com/visitor/0,,3_82205--View_1931,00.html

glimmerofhope

happytalk wrote: »

Hi just want to say RBS are definitely giving us different information,My misselling case is apparently being dealt with by their finance department and the very nice gentleman at the RBS call centre (which I think we are dealing with) told me RBS do not send any refunds out to CMC but direct to the customer and that my case should be settled by them by the 21st October which is the eight week deadline (But I am not holding my breath) - since my case has been with them since September 2010 and upheld in my favour by the FOS I really do feel we should be treated with more respect in that we are being given some correct information - good luck with receiving your refund I have given up looking for the postman - any information I have had regarding my ppi has been from Cappo and friends to which I am truly grateful that we have someone working on our behalf - we owe them alot for their time and expertise

Hi Happytalk
I agree the team on here are fab:A

I emailed Stephen Hester and got a very generic email from someone in his office saying I have to speak to their specialist PPI team in Manchester and they were working with FOS timescales.

I sent a brief reply back saying ' Could he direct me to a manager in Manchester as the 'specialist team' had given me three different responses in each of my three calls and I didn't think that was very 'special' and I was aware of the timescale and in my case it expires next Friday.

It seems that all the banks are being very slow and not treating their customers fairly when it comes to these refunds.
I too have stopped waiting for the Postman, but when the deadline expires I will be back on the phone.

Glimmer

glimmerofhope

di3004 wrote: »

Posting up my success on this thread as well!!

Another 2 loan ppi mid 90's upheld folks, letter from Lloyds on the way, just thought I would let you know. :beer::beer:

Well Done Di:)