calculating real loan amount ie with out PPI???????

stopthespends

hi

my self and now ex hubby had a loan in 2004 nov for 10000. we took out the protection ( at the mo need to keep it as nhs making redundances!!)

i want to put all my finances in the snowball calculater but im sure i only pay wot i owe plus interest and not have to pay up to the loan amount plus ppi??? im i wrong? ahhhhhhh dont understand ppi!!!!!

grumbler

AFAIK usually the total cost of PPI is added upfront to the amont of the loan.
In this case your current balance shows what you actually owe: the reminder of (£10K+PPI).

CLAPTON

what exactly are you trying to achieve?

you owe an amount equal to the monthly repayment x the number of months to complete the loan.

however, if the loan is flexible (i.e. can you overpay and reduce the interest baring debt) then what are the T&Cs?

sorry but the answer is all in the detail of your T&Cs.