Lloyds TSB - PPI Claim?

sue149

i think u times 8 x £1833 which gives you £146 that is your extra i might be wrong so check with the others ok

di3004

sue149 wrote: »

i think u times 8 x £1833 which gives you £146 that is your extra i might be wrong so check with the others ok

I'm sure your right Sue, but just in case I'm wrong yes best to let others check this for you.;)

sue149

am i right any help out there

di3004

sue149 wrote: »

am i right any help out there

Bumping this for you Sue.

Wonder if Tiggrae or Marshallka will be here later, Tiggrae normally posts on the above PPI discussion thread, please feel free to copy and paste your post to that actual thread hun, good luck.;)

marshallka

jaynemax wrote: »

Hello all, a quick update for you. I went into branch today to collect a large parcel of paperwork after LTSB wrote to tell me (on the 40th day, no less!) that my SAR was complete. I've spent a good couple of hours going through it all and I'm chuffed to bits with what I've found!

Basically, the original application back in 2001 was completed in branch and ALL boxes apart from my signature were pre-filled, including the dreaded PPI. Furthermore, my account notes show that this card was transferred over to a new "Gold" account in 2003 and specifically states that this was done "without application" i.e. no signature, no paperwork from me and no opportunity to decline/accept PPI either - they just transferred it straight over.

Included in the pack was 6 years worth of card statements, even though I didn't request them but this is good as I've just sat and worked out that since October 2003 I've paid £1833.65 in PPI. I'll be asking LTSB to refund this and as I have the account number for the original card, that too. The letter is prepped and ready to go recorded delivery on Monday.

My question now is how do I work out what 8% simple interest would be on £1833.65? I'd really like to get some kind of figure in my head as to what the minimum I'll accept is!

If this was a credit card then usually you would work the interest out by putting in the amount of PPI you paid, the date you paid it and then click "add to charges list" (FOR each payment made) on the bank charges calculator which is in this link here http://www.moneysavingexpert.com/reclaim/bank-charges (half way down the page).


This would then give you a running total of the amount you are due back. It is time consuming but a better method than just totalling it all up and adding 8% on the total amount.....

jaynemax

Lovely, thank you! Everyone is so helpful here - it honestly makes me well up a bit sometimes!

kpwll

Don't you ask for the contractual interest as well?

jaynemax

Hmm, I'm not sure about that. Thanks very much though marshallka - I've just calculated I'm due back a minimum of £2100!

marshallka

kpwll wrote: »

Don't you ask for the contractual interest as well?

Not too sure on that one Karen??

kpwll

Just thinking that if they are to put you back into the position you would have been if you hadn't taken PPI out, then they should pay the contractual rate as well because that's what we've been paying on all the installments.