wondering if robbedof my money wouldnt mind calculating how much i should get???

worldsnooker147

ive posted a few times on here recently and everyone has been really helpful so far, just about to post my ombudsman letter on monday

just thought id post this out of curiosity to see how much id be entitled too when proceeding begin

here goes, hope this is understandable


first Loan repayment date :01/6/07
total loan inc interest £30,269.76
cash loan inc interest £22,533.41
PPI inc interest £7,736.35
payments 96(total amount) of which ive made 39 of these to date
APR 10.9%
total mthly paymt £315.31 (80.30 insurance and 235.01 loan)

all payment are upto date and there have been no arrears or defaults on the account

cheers

worlds snooker 147

robbedofmymoney

worldsnooker147 wrote: »

ive posted a few times on here recently and everyone has been really helpful so far, just about to post my ombudsman letter on monday

just thought id post this out of curiosity to see how much id be entitled too when proceeding begin

here goes, hope this is understandable


first Loan repayment date :01/6/07
total loan inc interest £30,269.76
cash loan inc interest £22,533.41
PPI inc interest £7,736.35
payments 96(total amount) of which ive made 39 of these to date
APR 10.9%
total mthly paymt £315.31 (80.30 insurance and 235.01 loan)

all payment are upto date and there have been no arrears or defaults on the account

cheers

worlds snooker 147

if you are succesful you would get

39 x £80.30 = £3131.70 + 8% simple of approx £417 = £3,548.70

your monthly repayments for the remainder of the loan will then go down to £235 as the remainder of the ppi will be removed from the loan

cheers :beer::beer:

good luck with your claim

worldsnooker147

robbedofmymoney wrote: »

if you are succesful you would get

39 x £80.30 = £3131.70 + 8% simple of approx £417 = £3,548.70

your monthly repayments for the remainder of the loan will then go down to £235 as the remainder of the ppi will be removed from the loan

cheers :beer::beer:

good luck with your claim

thankyou so much!!

is it possible to work out what my remaming loan balance would be approx??

cos i know the remaining ppi knocked off is less the interest isnt it?

so my ppi payment is 80 with interest. that woulda made the rermaining ppi on my loan at 52 p.m, is that right??

so that would be 57 remaing payments at 235 p.m??

robbedofmymoney

worldsnooker147 wrote: »

thankyou so much!!

is it possible to work out what my remaming loan balance would be approx??

cos i know the remaining ppi knocked off is less the interest isnt it?

so my ppi payment is 80 with interest. that woulda made the rermaining ppi on my loan at 52 p.m, is that right??

so that would be 57 remaing payments at 235 p.m??

yes

your new monthly repayments should be £235 per month for 57 remainder of the loan term as they have to put the loan into the position it would have been in had you not had the ppi added in the first place.

if you can let me know the loan and ppi amounts without interest, and your current loan balance, i can work out what your loan value will be after ppi removed.

cheers

worldsnooker147

robbedofmymoney wrote: »

yes

your new monthly repayments should be £235 per month for 57 remainder of the loan term as they have to put the loan into the position it would have been in had you not had the ppi added in the first place.

if you can let me know the loan and ppi amounts without interest, and your current loan balance, i can work out what your loan value will be after ppi removed.

cheers

tghanku,

the balances without interest were

15,000 cash amount
5,150 ppi amount

remaining balance is 17972.67

thanku:D

robbedofmymoney

worldsnooker147 wrote: »

tghanku,

the balances without interest were

15,000 cash amount
5,150 ppi amount

remaining balance is 17972.67

thanku:D

the way they will work it out is as follows

outsatnding balance (without interest as this is charged monthly) - original ppi premium - interest applied to ppi premium to date.

14881 (approx) - 5,150 - 1698 = £8033

then they will add back on the premiums you have paid so far as they are paying you this back (excluding interest) 5150/96x39

8033 + £2092 = £10,125 (this figure is without interest that will be charged over the next 57 months.

so 57 x your existing £235 per month = £13,395 which will include the interest over the remaining loan term

i hope this helps, the figures may vary a little but should look something like these

cheers