PPI Reclaiming Discussion part 4

amersall

pinknico wrote: »

Do as Tiggrae said to do(see below) You want 29 individual monthly PPI payments with 29 individual dates and then 3i months as a lump sum.
Loan 2 48 individual payents with 48 individual dates:

Tiggrae's quote:
"so what you need to do to work out the 8% interest is feed 29 monthly payments into the calculator then on the date of the loan consolidation put in the remaining 31 months as one lump sum - that should work you out the interest on loan 1 - then do the same for loan 2 - put in all 48 of the monthly premiums paid until the end of the loan"

hi pinknico hows you x just been playing pretty with bank charges calc why would 8% interest be less each month? i put my ppi monthly figure in and every month the interest amount went down when i got to the last month the payment of interest had halved!! i dont understand this 8% is 8% ? on the same amount of payment why would it decrease? if you dont know i wont hold it against you lol but, if i had only put one months ppi in and the first 8% was over £ 60and i was going to times that by the rest of the months and i would have been so wrong with the total figure

nrawlins

pinknico wrote: »

Yes you do and it is the car company that you complain to.

Ah great thanks!

So do I follow the same process on here and use the same letter templates and send them to the garage? Can I place an investigation for this claim through the FSO if no success?

But surely its Black Horse who are responsible being regulated by the FSA. That makes a mockery of the regulations if companies such as Black Horse can have 3rd party's advising and selling loans/finances.

Are you sure I don't go direct to Black Horse?

pinknico

amersall wrote: »

hi pinknico hows you x just been playing pretty with bank charges calc why would 8% interest be less each month? i put my ppi monthly figure in and every month the interest amount went down when i got to the last month the payment of interest had halved!! i dont understand this 8% is 8% ? on the same amount of payment why would it decrease? if you dont know i wont hold it against you lol but, if i had only put one months ppi in and the first 8% was over £ 60and i was going to times that by the rest of the months and i would have been so wrong with the total figure

Hello my lovely , the interest goes down as it is done by how many days has passed since you lost the 8%. So if you have £25 and add 8% on a calculator you get £27 with £2 being the 8% interest.
Put £25 in martins calculator and put the date at this time last year and you will get a higher amount as you have been without the 8% for 365 days.

pinknico

Sorry amersall put in 8% 2 years ago will work better.

amersall

pinknico wrote: »

Sorry amersall put in 8% 2 years ago will work better.

thanks you are a sweet heart xxxx got your pms xx

pinknico

nrawlins wrote: »

Ah great thanks!

So do I follow the same process on here and use the same letter templates and send them to the garage? Can I place an investigation for this claim through the FSO if no success?

But surely its Black Horse who are responsible being regulated by the FSA. That makes a mockery of the regulations if companies such as Black Horse can have 3rd party's advising and selling loans/finances.

Are you sure I don't go direct to Black Horse?

Yes you do use the same templates, you go to who sold you the loan and PPI and yes you can go to the FOS if this was on or after January 2005.

supersaverg

Bit of help require please.

Yesterday I recieved a letter from A&L confirming they were refunding me £2000, yay!

However, today I got a letter (miracle) from EGG regarding a cc I used to hold with them (cancelled about 1 year ago once paid off balance).

They have offered me 780.51 plus 238.47 interest totalling £1018.98, now this is a useful sum of money to have, however, before I accept, how do I know they arent under valuing my contributions? I do not have many paper statements and cannot access online account as I closed it.

Should I contest and ask for more?

They have included the FOS leaflet and made the presumtious statement that they are sending me the cheque in the next few days.....

Any advice appreciated.

melorablack

supersaverg wrote: »

Bit of help require please.

Yesterday I recieved a letter from A&L confirming they were refunding me £2000, yay!

However, today I got a letter (miracle) from EGG regarding a cc I used to hold with them (cancelled about 1 year ago once paid off balance).

They have offered me 780.51 plus 238.47 interest totalling £1018.98, now this is a useful sum of money to have, however, before I accept, how do I know they arent under valuing my contributions? I do not have many paper statements and cannot access online account as I closed it.

Should I contest and ask for more?

They have included the FOS leaflet and made the presumtious statement that they are sending me the cheque in the next few days.....

Any advice appreciated.

You could request copies of the statements and add up the premiums yourself.

supersaverg

melorablack wrote: »

You could request copies of the statements and add up the premiums yourself.

Do you think its worth it. I had about 10K on the card at one point.

It seems a fair figure but their breakdown is weak to say the least.

melorablack

supersaverg wrote: »

Do you think its worth it. I had about 10K on the card at one point.

It seems a fair figure but their breakdown is weak to say the least.

I think it might be - you could also go to the FOS and tell them that you don't think the amount offered is true to what was originally charged.