fair offer on my PPI claim? help please

eversman2010

Hi, first time user so not sure if i am doing this right!

In September 06 i took out a sec loan with firstplus (brokered by Central capital). The loan was over 300 months (very stupid i know) and even more stupidly took out PPI.
After reading this site about claiming for misold PPI i thought i would go for it. This was in 05/11/09, after much chasing i have today received and offer of an ex-gratia payment of £3457.80. I am not sure if this is fair as i will be paying a hell of a lot more over the full term of the loan.

PPI amount paid upfront and added to loan £6377.60
monthly payments £57.63
total ppi payment over 300 months £17289

Central Capital have offered me the above which is the monthly payment x60 ( the length of the PPI).
Am i correct with these calculations? or if i cancel the PPI part will those monthly payments drop off.

please help anybody as i am really confused!!!!!!!!!!!!:(:(

di3004

eversman2010 wrote: »

Hi, first time user so not sure if i am doing this right!

In September 06 i took out a sec loan with firstplus (brokered by Central capital). The loan was over 300 months (very stupid i know) and even more stupidly took out PPI.
After reading this site about claiming for misold PPI i thought i would go for it. This was in 05/11/09, after much chasing i have today received and offer of an ex-gratia payment of £3457.80. I am not sure if this is fair as i will be paying a hell of a lot more over the full term of the loan.

PPI amount paid upfront and added to loan £6377.60
monthly payments £57.63
total ppi payment over 300 months £17289

Central Capital have offered me the above which is the monthly payment x60 ( the length of the PPI).
Am i correct with these calculations? or if i cancel the PPI part will those monthly payments drop off.

please help anybody as i am really confused!!!!!!!!!!!!:(:(

Hi and welcome

And of course Well done and Congratulations.:beer::T:beer:

If they admit to mis selling then you should have been offered the 8% interest of what a court would award as well, but if an offer they do not to what I know of offer this.

However, I'm hopeless at working out calcs and sure someone will be along soon to look at these for you, good luck and again well done.;)

eversman2010

thanks for your reply, happier now!

in the letter not sure if they admit or not as they say they have rejected the points i raised but are not entirley satisfied with the level of information provided with the loan!!! If you can work that out.

di3004

eversman2010 wrote: »

thanks for your reply, happier now!

in the letter not sure if they admit or not as they say they have rejected the points i raised but are not entirley satisfied with the level of information provided with the loan!!! If you can work that out.

With pleasure.

It looks like an offer then.;)

Sometimes they don't make things so clear do they?
More confusing if anything lol.

Hope someone will be here soon to look at this for you anyway.:)

eversman2010

tell me about it! it would be easier to understand if i stuck my head in a bucket of sand lol

di3004

eversman2010 wrote: »

tell me about it! it would be easier to understand if i stuck my head in a bucket of sand lol

lmao :rotfl::rotfl::rotfl: this tickled me lol :rotfl::rotfl::T:T:D