not sure what refund i'm entitled to???

Jessie1811

I recevied a letter from A&L in May advising that they may have missold my PPI, after reading through this i decided to write back complaining. I took out my loan in May 05 for 6K total payable £6966 inc interest over 36 months. The PPI added at the outset was £790 inc £127 in interest, total PPI payable £917.64. I paid back the loan after 16 months however can't remember what the total amount i paid back was at this time.

I've now received an offer of £322.83 from A&L which includes the monthly repayments back, and a rebate adjustment and interest on the total refund. I don't think this is right at all but have no idea how to work out what i should get back. I don't think the figure they've given £76.47 is what i paid them in monthly premiums when the loan was in place.

Any advice would be greatly appreciated. I have until start of August to agree or say NO, you can do better!!!

marshallka

Jessie1811 wrote: »

I recevied a letter from A&L in May advising that they may have missold my PPI, after reading through this i decided to write back complaining. I took out my loan in May 05 for 6K total payable £6966 inc interest over 36 months. The PPI added at the outset was £790 inc £127 in interest, total PPI payable £917.64. I paid back the loan after 16 months however can't remember what the total amount i paid back was at this time.

I've now received an offer of £322.83 from A&L which includes the monthly repayments back, and a rebate adjustment and interest on the total refund. I don't think this is right at all but have no idea how to work out what i should get back. I don't think the figure they've given £76.47 is what i paid them in monthly premiums when the loan was in place.

Any advice would be greatly appreciated. I have until start of August to agree or say NO, you can do better!!!

Ask them for a full breakdown of your settlement figure and go from there.

Jessie1811

they have already given me a full breakdown as follows
A - total montly premiums to 27 Aug 05 £76.47
(ALTHOUGH I DID NOT PAY BACK LOAN UNTIL AUG 06!)
B - Rebate adjustment £169.42
C - Total Refund A+B £245.89
D - Interest on total refund £76.94
E - Total C+D £322.83

Just have no idea how they worked this out!!! Am clueless!!

marshallka

Jessie1811 wrote: »

they have already given me a full breakdown as follows
A - total montly premiums to 27 Aug 05 £76.47
(ALTHOUGH I DID NOT PAY BACK LOAN UNTIL AUG 06!)
B - Rebate adjustment £169.42
C - Total Refund A+B £245.89
D - Interest on total refund £76.94
E - Total C+D £322.83

Just have no idea how they worked this out!!! Am clueless!!

Yeah I see. But you need a breakdown of the settlement that you made in 2006 perhaps to assist in this breakdown. Also you need to query their dates too?????