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

marshallka

busbyh wrote: »

It's so complex, they have you always don't they.
So if our PPI was £8832 and we had paid back £4400, should we have got a rebate on that of £440

I take it this is working on 10% rebate again. If it is then yes, you would only get £440 back. The rebate is against the actual insurance and not the insurance and interest on the insurance and also its only on the unused part of the PPI too.

busbyh

marshallka wrote: »

Your total cost of the PPI over 20 years would have cost you £41376.00:eek:

OMG!!! gets even more shocking - the money these tyrants are making:mad:

pinknico

Hold on Beaniebabe the £41376 would come off the total of the loan if you calculated 20 years of interest on it, not off the loan amount written on your credit agreement which probably shows no amounts with interest added.
Is that right Marshallka?

busbyh

di3004 wrote: »

This is one interesting thread folks.;)

Do you find it lots easier now?:D

This is absolutely BRILLIANT di.:A

marshallka

beaniebabe wrote: »

OMG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! That is very scary!!!!:eek:
Let me get my head around this and I apologise if I am being a bit stupid here.:rolleyes:
Are you saying that if the rules of the FSCS are the same as FOS I sould get a cheque back for the repayments made to date(that amount to approx £3310?) and this massive amount of £41376.00 :eek: would be deducted off my loan balance and my account restructured!
MARSHALKA YOU ARE FAB:A

Yes, this is the amount that was added to your loan for the PPI and interest on it. Your amount that would be to reduce your loan is the £41376 - the 3310 you would get back as a cheque. You have to remember though that the loan (your amount you borrowed from them) would include interest too so you have to think what would be owing on your loan would be whatever is left to pay and include the interest left to pay on the actual loan as well.

marshallka

pinknico wrote: »

Hold on Beaniebabe the £41376 would come off the total of the loan if you calculated 20 years of interest on it, not off the loan amount written on your credit agreement which probably shows no amounts with interest added.
Is that right Marshallka?

Just done a post saying this pinknico. :eek:

You could work this out though if you split all the loan and PPI etc.

pinknico

Thanks Marshallka didnt want beaniebabe thinking she could book her round the world cruise!!

dialysis

Well girls and boys my head is hurting now all these figures and beaniebabe's OMG:mad: bless her I am off to bed Hope we all get news in the morning I will ring deloitte and let you know. Night night sweet dreams;):D

pinknico

Night dialysis, I am heading off to.

Thanks for all your help Marshallka.xx

busbyh

beaniebabe wrote: »

OMG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! That is very scary!!!!:eek:
Let me get my head around this and I apologise if I am being a bit stupid here.:rolleyes:
Are you saying that if the rules of the FSCS are the same as FOS I sould get a cheque back for the repayments made to date(that amount to approx £3310?) and this massive amount of £41376.00 :eek: would be deducted off my loan balance and my account restructured!
MARSHALKA YOU ARE FAB:A

The £41370 is what it would cost with interest if you went the full term .