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

marshallka

Arrrrr , just read back, it is ONLY the interest on the part of the PPI repayment they pay back so you would need to breakdown the PPI part of the repayment between interest and capital. Going to do it now chickpee

chickpee

marshallka wrote: »

Arrrrr , just read back, it is ONLY the interest on the part of the PPI repayment they pay back so you would need to breakdown the PPI part of the repayment between interest and capital. Going to do it now chickpee

Thanks Marshallka.

showergirl

Thank heaven for people like Marshallka.:A

marshallka

chickpee its here

PPI 8732.50
Interest on PPI to date being 39.95 x 54 months = 2157.34
Less NCB 3409.16
Interest from date of Picture being declared in default 115.35
Total redress £7596.03

YOUR redress would amount to a little more than this as your interest rate went up so it looks OK TBH...

marshallka

Chickpee, your redress looks ok.... sorry for the confusion... It is cause they pay interest on the PPI and not the whole of the PPI that you have paid (cause they are already paying you the premium back!!) so be happy and enjoy it........... well done.......:T:beer::j:j:j:T

pinknico

But that total in your post is after the £2000 and 90% bit , yes?

chickpee

marshallka wrote: »

chickpee its here

PPI 8732.50
Interest on PPI to date being 39.95 x 54 months = 2157.34
Less NCB 3409.16
Interest from date of Picture being declared in default 115.35
Total redress £7596.03

Was that based on the lower interest rate then Marshallka as I got slightly more than that? It does seem to make sense though and I'm sure the calculations are now right.

Thanks for all your help today. It's just brilliant to be able to share your doubts on here and have everyone help you to sort things out xx

chickpee

marshallka wrote: »

Chickpee, your redress looks ok.... sorry for the confusion... It is cause they pay interest on the PPI and not the whole of the PPI that you have paid (cause they are already paying you the premium back!!) so be happy and enjoy it........... well done.......:T:beer::j:j:j:T

No need to apologise Marshallka - you've been incredibly helpful (as always!)

I really appreciate you taking the time to help out. Looks like I will be banking the cheque then and saving myself from looking stupid to the FSCS :T:T

moggy2009

just been told the cheque was issued on friday and it was on a timescale so the latest it could have been sent out was monday gone and hopefully it should arrive tomorrow

marshallka

chickpee wrote: »

Was that based on the lower interest rate then Marshallka as I got slightly more than that? It does seem to make sense though and I'm sure the calculations are now right.

Thanks for all your help today. It's just brilliant to be able to share your doubts on here and have everyone help you to sort things out xx

Chickpee, its always good to help and be appreciated. Thanks and yes, my figures are based on as if it was actually a fixed interest rate of the lower (being 8.6%) so you would have got more cause your interest rate was variable.

I hope you can bank it and enjoy it too and look forward to christmas and it being a little less stressful.

As regards sharing your doubts. Its always good to get another pair of eyes to look at something or another 10 pairs of eyes is even better. Continue to share you doubts if you are doubting any more cause I know how these things can play on our minds and I am no teacher I am afraid. I would be glad to try to explain it more (but you have to bear with me too).