How FOS Calculate Refunds

amersall

dexstroyer wrote: »

Evening all,

I have my statement back from Welcome finance and have sent my letters away asking politely for my money back...:rotfl:

Since the great people of these forums have said my PPI was front loaded and then interest charged on top, and I settled early, would someone that has the abilty be able to calculate a possible figure I MAY be able to get back?

The best I can do is post a photo bucket link for the 3 pages.

HERE...

It confuses me the more I look at it,

Thank you.

Hi,someone will look at these for you and give you an idea of what you will get back,as this is the FSCS who will pay this they need to work at the FSCS redress,just to let whoever works this out know.

sorryitsme

I have just found the details of my barclay business loan, I would be greatful if anyone could work out what I may be due back e.g Niggly:)

Loan start Jul 2007

Loan period 54 months

Loan amount £5000.00

Interest rate 18.98%

PPI upfront £794.74

Arrangement fee £200.00

Monthly loan payment including PPI £252

Loan less PPI monthly £184

Loan paid Apr 2008

I had a payment holiday of 6 months so only made 2 payments before clearing the loan.

Thanks in advance

chrismargrett

Hi, Im new to all this, but about 2 months ago I made a claim for PPI to HSBC, I got a letter back today stating they are offering me £232 but they do not accept the allegations I made of mis selling but are prepared to settle the complaint.
But the original figure with the loan was £290.16 and this loan was took out 6 years ago. The figures in the letter are as follows

Original Loan protection premium £290.16
Term of Loan 24 Months
APR of Loan 16.9%
PPI Premium Redress £146
Plus taxable interest at 8% £75
Plus early repayment costs inlcuding 8% interest £11

OFFER £232

Is this HSBC trying to "fob" me off with a reduced figure although im entitled to more? Have they tried this tactic with others?

BAring in mind I defaulted on the loan and it was passed to a collection agency, but I did eventually pay back the amount through the collection agency. Whether that is relevant Im not sure, any help in figuring this out would be appreciated. I think I will also try HSBC and see how they have come to this "settlement offer" considering I paid night on £300 for the PPI, but for some reason Im not expecting them to be too helpful, hmmm dont know why. Thank you

Niggly_2

chrismargrett wrote: »

Hi, Im new to all this, but about 2 months ago I made a claim for PPI to HSBC, I got a letter back today stating they are offering me £232 but they do not accept the allegations I made of mis selling but are prepared to settle the complaint.
But the original figure with the loan was £290.16 and this loan was took out 6 years ago. The figures in the letter are as follows

Original Loan protection premium £290.16
Term of Loan 24 Months
APR of Loan 16.9%
PPI Premium Redress £146
Plus taxable interest at 8% £75
Plus early repayment costs inlcuding 8% interest £11

OFFER £232

Is this HSBC trying to "fob" me off with a reduced figure although im entitled to more? Have they tried this tactic with others?

BAring in mind I defaulted on the loan and it was passed to a collection agency, but I did eventually pay back the amount through the collection agency. Whether that is relevant Im not sure, any help in figuring this out would be appreciated. I think I will also try HSBC and see how they have come to this "settlement offer" considering I paid night on £300 for the PPI, but for some reason Im not expecting them to be too helpful, hmmm dont know why. Thank you

How much was the ppi premium per month please.
When did the loan start and when did it finish.

I will then work out the refund for you

Sorry seen this all over the forums but am just catching up with the calculations. We are usually more helpful and quicker.

N:beer:

chrismargrett

Niggly wrote: »

How much was the ppi premium per month please.
When did the loan start and when did it finish.

I will then work out the refund for you

Sorry seen this all over the forums but am just catching up with the calculations. We are usually more helpful and quicker.

N:beer:

Not a problem, I appreciate you getting back to me.
Unfortunately I never did get a copy of the loan agreement when I enquired about this. The above figures are the onlt concrere figures I have which HSBC sent me in the settlement letter.
I know all this is probably not very helpful, but Im just confused how they are offering me less than the original PPI total agreement.
Think Il be ringing them up to see how they have come to this figure.
Have you seen anything similar like this from HSBC or other lenders where people are getting offered smaller amounts as maybe a ploy to save some money in the process.
Thanks once again for your time, MUCH appreciated

dexstroyer_2

amersall wrote: »

Hi,someone will look at these for you and give you an idea of what you will get back,as this is the FSCS who will pay this they need to work at the FSCS redress,just to let whoever works this out know.

Evening all,

Would anyone have had a chance to look at this for me, or is it that I need to display the information in a different format?

amersall

dexstroyer wrote: »

Evening all,

I have my statement back from Welcome finance and have sent my letters away asking politely for my money back...:rotfl:

Since the great people of these forums have said my PPI was front loaded and then interest charged on top, and I settled early, would someone that has the abilty be able to calculate a possible figure I MAY be able to get back?

The best I can do is post a photo bucket link for the 3 pages.

HERE...

It confuses me the more I look at it,

Thank you.

Bumping this,thank you xxxxx

amersall

Hi NIggly,i have asked MSE wendy to do a sticky for calculations,then they will all be together xxx.

Niggly_2

chrismargrett wrote: »

Not a problem, I appreciate you getting back to me.
Unfortunately I never did get a copy of the loan agreement when I enquired about this. The above figures are the onlt concrere figures I have which HSBC sent me in the settlement letter.
I know all this is probably not very helpful, but Im just confused how they are offering me less than the original PPI total agreement.
Think Il be ringing them up to see how they have come to this figure.
Have you seen anything similar like this from HSBC or other lenders where people are getting offered smaller amounts as maybe a ploy to save some money in the process.
Thanks once again for your time, MUCH appreciated

Could I have either the loan amount or the total monthly payment. Should be able to go from there. Something is up with the figures though as I would have thought the ppi loan plus the interest you paid would be paid back plus 8 % interest from the settlement date OR the ppi payments plus 8 % and interest. Either way the offer should be more

N

Niggly_2

Originally Posted by dexstroyer
Evening all,

I have my statement back from Welcome finance and have sent my letters away asking politely for my money back...:rotfl:

Since the great people of these forums have said my PPI was front loaded and then interest charged on top, and I settled early, would someone that has the abilty be able to calculate a possible figure I MAY be able to get back?

The best I can do is post a photo bucket link for the 3 pages.

HERE...

It confuses me the more I look at it,

Thank you.


QUOTE=amersall;46294145]Bumping this,thank you xxxxx[/QUOTE]

I have sussed it be back with figs soon

N:beer: