Companies in Default/FSCS Claims - Picture, London Scottish, Twopart

marshallka

busbyh wrote: »

Not bad,been trying and trying and trying............to work out how this interest works out, but not getting very far.

The only thing I have managed to work out is I paid about £65 a month on average off actual loan, over the 30 months. That makes it £285 per month interest!!! But I could be being overgenerous with the £65 How do I work out if its for PPI or the whole loan

To work out the PPI element of each repayments you take the PPI amount (without interest) and then divide it by the PPI and loan (without interest) and this gives you a percentage. Take this percentage of your repayment and this is the amount you pay each month towards the PPI.

Example here on Charliemacs

PPI 6262.45
divided by (25100 + 6262.45) 31362.45 = 19.97%

so 19.97 of the loan repayment of 327.80 went towards the PPI being £65.46.

If charliemac had taken his/her loan to full 180 months then this PPI would have cost £11782.80

busbyh

dialysis wrote: »

Sorry busbyh what are you trying to work out? just looked at post again do you mean your monthly payment was £350 per month? then how do you work out how much of that is PPI

I'm just trying to work out how much interest and what was capital when I paid off my loan to Picture

monthly payment was £350, But when I settled the settlement figure was £1850 less than what we borrowed.

I had made payments of £10500 - £1850 (this was paid of the capital) = £8650 which I paid in interest over 30 months - this amounts to £288 being paid in interest per month.

Is the £8850 interest for the whole loan amount or is the majority off the PPI
Do I make sense- i'm not so sure;)

dialysis

marshallka wrote: »

To work out the PPI element of each repayments you take the PPI amount (without interest) and then divide it by the PPI and loan (without interest) and this gives you a percentage. Take this percentage of your repayment and this is the amount you pay each month towards the PPI.

Example here on Charliemacs

PPI 6262.45
divided by (25100 + 6262.45) 31362.45 = 19.97%

so 19.97 of the loan repayment of 327.80 went towards the PPI being £65.46.

If charliemac had taken his/her loan to full 180 months then this PPI would have cost £11782.80

Thanks marshallka I am now like busbyh going to try and work it out

dialysis

busbyh wrote: »

I'm just trying to work out how much interest and what was capital when I paid off my loan to Picture

monthly payment was £350, But when I settled the settlement figure was £1850 less than what we borrowed.

I had made payments of £10500 - £1850 (this was paid of the capital) = £8650 which I paid in interest over 30 months - this amounts to £288 being paid in interest per month.

Is the £8850 interest for the whole loan amount or is the majority off the PPI
Do I make sense- i'm not so sure;)

You make sense busbyh but maths was never my strong point so sorry have to leave you to it, I now have to work my own out cheers hun lol;)

busbyh

marshallka wrote: »

To work out the PPI element of each repayments you take the PPI amount (without interest) and then divide it by the PPI and loan (without interest) and this gives you a percentage. Take this percentage of your repayment and this is the amount you pay each month towards the PPI.

Example here on Charliemacs

PPI 6262.45
divided by (25100 + 6262.45) 31362.45 = 19.97%

so 19.97 of the loan repayment of 327.80 went towards the PPI being £65.46.

If charliemac had taken his/her loan to full 180 months then this PPI would have cost £11782.80

Cheers, I will look at mine again and try to work it out. It will probably take me awhile;)

busbyh

marshallka wrote: »

To work out the PPI element of each repayments you take the PPI amount (without interest) and then divide it by the PPI and loan (without interest) and this gives you a percentage. Take this percentage of your repayment and this is the amount you pay each month towards the PPI.

Example here on Charliemacs

PPI 6262.45
divided by (25100 + 6262.45) 31362.45 = 19.97%

so 19.97 of the loan repayment of 327.80 went towards the PPI being £65.46.

If charliemac had taken his/her loan to full 180 months then this PPI would have cost £11782.80

Help!!

PPI £8832

Loan £35000

It was over 25yrs Paid back after 30 months
would you mind working this out for me, see if I can get the same
CHeers

marshallka

busbyh wrote: »

Help!!

PPI £8832

Loan £35000

It was over 25yrs Paid back after 30 months
would you mind working this out for me, see if I can get the same
CHeers

Your PPI element of the repayment was 20.14% but need to know your repayment amount???

dialysis

marshallka wrote: »

Your PPI element of the repayment was 20.14% but need to know your repayment amount???

Marshallka you are so clever Imust ber thick I tried to work that out but got a number 4 and loads of other numbers oops;)

marshallka

Busbyh, Just found your repayments were £350 so 20.14% of the 350 is 70.49 went towards the PPI and this WOULD have totalled (if your loan had gone to term) £21147.00


A lot of money they were trying to make from you.

pinknico

but did this payment go towards the payment of the ppi interest or ppi loan?