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

marshallka

I thought if say your PPI element of the loan repayments which were in total £400 and PPi element was 19.97% of it being £79.88 then you made 40 repayments then that would be 40 x 79.88 = £3195.20. Wasn't that how we were working them out???

marshallka

busbyh wrote: »

PINKNICO
HERE IS THE BREAKDOWN

PPI £8732.50
PLUS INTEREST £2072.89
LESS BENEFITS RCD 0.00
LESS REBATE DUE UPON CANCELLATION £698.10
tHIS IS THE AMOUNT PAID WHEN THE ppi WAS CANCELLED IN aUG 2008.

PLUS REAS RATE OF RETURN 60.41

TOTAL £10167.70

AMOUNT PAYABLE £9550.93


what do you think!!

On the original breakdown when the loan was paid off it stated PPI refund on cancellation 0.00

But what were the figures from the agreement busbyh... I need to find one where there are figures from the agreement and then the figures the FSCS paid out??

busbyh

Marshallka you worked ours out at about £65 pm and it was correct as far as I can see. I think we made 29 payments, the rest of the interest is what the new lender charged over the 12 months. This wouldn't amount to much as we are at present only paying 2.4% to them. Averaged out is was about 3.6% or thereabouts.

We only get the interest we have paid on the PPI amount plus the full premium

chickpee

busbyh wrote: »

yes that's what it said on ours, what is it you actually mean by the pemium. We get the PPI amopunt and the interest we have paid to date

PPI amount £8872
Amount of interest alreadu charged by lender £2072

I meant the premium as in the extra amount we pay towards the loan because we've had the ppi added.

I've been trying all afternoon to work out how the FSCS have come to the figure but I'm rubbish at maths! The thing is I want to be very clear in my letter as to why I think it isn't right.

busbyh

marshallka wrote: »

But what were the figures from the agreement busbyh... I need to find one where there are figures from the agreement and then the figures the FSCS paid out??

Do you mean for the whole loan amount

I can post these up in a bit as I have to feed kids

pinknico

Remember interest rates went up and down and payments went up and down, especially since 2005 ours went from 7% to 10% .

showergirl

So does this mean that you have paid nothing off your loan and all you are paying is the interest

pinknico

Actually payments only ever went up!!!

chickpee

Bushby we had the same total PPI amount as you and over 54 months we have received back interest of £2708.14

pinknico

showergirl wrote: »

So does this mean that you have paid nothing off your loan and all you are paying is the interest

yes showergirl, as far as I know which is why settlement figures are always such a shock! This is not the case in all loans but has been on my secured ones.