Could someone help with calculations please?

julieanndavies

Hi,
Lloyds TSB agreed to pay back for three loans I had with them.
I knew things were going too well. They agreed to compensate for first loan and I received a copy of the calculations and the money was paid to me. They included some small amounts to represent "excess balance interest" for the subsequent loans to represent the difference in the starting balances if I had not taken out the PPI on the loan.
I have received letters for the second and third loans saying they will compensate me by the usual calculations.
I rang today to see where my payment for the second loan was ( 28 working days have elapsed ) and was told that all payments for all the loans have been made to me.
I have not received details of any calculations made for the second or third loans.
I am afraid now that because very small amounts were paid to me in respect of excess balance interest that the bank is trying to hoodwink me into accepting that I have been recompensed for the second and third loans. I only received the letter saying they would pay me for the third loan 11/8/2010.

Loan 1 (PPI) 19/10/2006 - 9/5/2008 £5000, +£1459.75 PPI for 5 years 15.92%, 18 payments made of £156.86 of which £35.45 was PPI. Rebate of £604.00. Balance of £4604.67 carried to new loan.
Loan 2 (PPI) 9/5/2008 - 1/12/2008 £4604.67 from previous +advance £3395.33 + £2496.89 PPI for 5 years 14.53%, 7 payments made of £247.18 of which £58.80 was PPI. Rebate of £1964.49. Balance of £7848.48 transferred to new loan.
Loan 3 (PPI) 1/12/2008 - 9/12/2009 £7848.48 from previous +advance £4343.66 +£5078.46 PPI for 7 years 14.19%, 9 payments made of £337.13 of which £99.13 was PPI. Rebate of £4054.33. Balance of £12697.47 transferred to new loan.
Loan 4 (no PPI) 9/12/2009 - 22/4/2010 £12,697.47 transferred from previous loan. Further advance of £149.10. 75 months term settled early. 14.19%. 4 payments made of £259.25.
I hope someone can help with calculations. I think that Lloyds are trying to con me. They have paid me approx £2100 and they have said thats it. I cannot believe that. I have tried calculating myself but is difficult but I made it nearer to £3500. Their helpdesk in Newport is very unhelpful and they seem to deliberately misunderstand.
Julie:(

di3004

Hi Julie


I'm sure someone will be here later to check them out for you.
Maybe Robbedofmymoney or/and Marshallka.

Good luck.;)X

amersall

julieanndavies wrote: »

Hi,
Lloyds TSB agreed to pay back for three loans I had with them.
I knew things were going too well. They agreed to compensate for first loan and I received a copy of the calculations and the money was paid to me. They included some small amounts to represent "excess balance interest" for the subsequent loans to represent the difference in the starting balances if I had not taken out the PPI on the loan.
I have received letters for the second and third loans saying they will compensate me by the usual calculations.
I rang today to see where my payment for the second loan was ( 28 working days have elapsed ) and was told that all payments for all the loans have been made to me.
I have not received details of any calculations made for the second or third loans.
I am afraid now that because very small amounts were paid to me in respect of excess balance interest that the bank is trying to hoodwink me into accepting that I have been recompensed for the second and third loans. I only received the letter saying they would pay me for the third loan 11/8/2010.

Loan 1 (PPI) 19/10/2006 - 9/5/2008 £5000, +£1459.75 PPI for 5 years 15.92%, 18 payments made of £156.86 of which £35.45 was PPI. Rebate of £604.00. Balance of £4604.67 carried to new loan.
Loan 2 (PPI) 9/5/2008 - 1/12/2008 £4604.67 from previous +advance £3395.33 + £2496.89 PPI for 5 years 14.53%, 7 payments made of £247.18 of which £58.80 was PPI. Rebate of £1964.49. Balance of £7848.48 transferred to new loan.
Loan 3 (PPI) 1/12/2008 - 9/12/2009 £7848.48 from previous +advance £4343.66 +£5078.46 PPI for 7 years 14.19%, 9 payments made of £337.13 of which £99.13 was PPI. Rebate of £4054.33. Balance of £12697.47 transferred to new loan.
Loan 4 (no PPI) 9/12/2009 - 22/4/2010 £12,697.47 transferred from previous loan. Further advance of £149.10. 75 months term settled early. 14.19%. 4 payments made of £259.25.
I hope someone can help with calculations. I think that Lloyds are trying to con me. They have paid me approx £2100 and they have said thats it. I cannot believe that. I have tried calculating myself but is difficult but I made it nearer to £3500. Their helpdesk in Newport is very unhelpful and they seem to deliberately misunderstand.
Julie:(

Hi there, as di says marshalka or robbedof will help you with these.I am not a mathematician and i cannot work the interest out, but from what i can see

loan 1 18x35.45 =638.10 on that loan you will get the interest on the ppi payments plus 8%.

loan 2 58.80 x 7 = 411.16 this is what you get then interest on those payments plus 8%,

loan 3 9x 99.13 = 892.17 this is what you get plus interest and 8%
so the total is 1941.43 that is just the ppi.obviously the interest will boost this but i cannot work the interests out.

you had no ppi on loan 4 so you dont get any back from this, Someone will work this out for you with interest so you will know if lloyds have paid this to what you are owed. Just hang on for this to be worked out and i hope this helps.x

julieanndavies

Hi Amersall,
Thanks for looking. I calculated that too for thr ppi payments, but I thought there was another payment for each loan in respect of the difference in end balance had I not taken PPI, plus interest of course as you have said.
Thanks again
Julie

amersall

Hi, there probably is but as i say i cant calculate this:rotfl:someone will work this out for you xx just hang on

robbedofmymoney

julieanndavies wrote: »

Hi,
Lloyds TSB agreed to pay back for three loans I had with them.
I knew things were going too well. They agreed to compensate for first loan and I received a copy of the calculations and the money was paid to me. They included some small amounts to represent "excess balance interest" for the subsequent loans to represent the difference in the starting balances if I had not taken out the PPI on the loan.
I have received letters for the second and third loans saying they will compensate me by the usual calculations.
I rang today to see where my payment for the second loan was ( 28 working days have elapsed ) and was told that all payments for all the loans have been made to me.
I have not received details of any calculations made for the second or third loans.
I am afraid now that because very small amounts were paid to me in respect of excess balance interest that the bank is trying to hoodwink me into accepting that I have been recompensed for the second and third loans. I only received the letter saying they would pay me for the third loan 11/8/2010.

Loan 1 (PPI) 19/10/2006 - 9/5/2008 £5000, +£1459.75 PPI for 5 years 15.92%, 18 payments made of £156.86 of which £35.45 was PPI. Rebate of £604.00. Balance of £4604.67 carried to new loan.
Loan 2 (PPI) 9/5/2008 - 1/12/2008 £4604.67 from previous +advance £3395.33 + £2496.89 PPI for 5 years 14.53%, 7 payments made of £247.18 of which £58.80 was PPI. Rebate of £1964.49. Balance of £7848.48 transferred to new loan.
Loan 3 (PPI) 1/12/2008 - 9/12/2009 £7848.48 from previous +advance £4343.66 +£5078.46 PPI for 7 years 14.19%, 9 payments made of £337.13 of which £99.13 was PPI. Rebate of £4054.33. Balance of £12697.47 transferred to new loan.
Loan 4 (no PPI) 9/12/2009 - 22/4/2010 £12,697.47 transferred from previous loan. Further advance of £149.10. 75 months term settled early. 14.19%. 4 payments made of £259.25.
I hope someone can help with calculations. I think that Lloyds are trying to con me. They have paid me approx £2100 and they have said thats it. I cannot believe that. I have tried calculating myself but is difficult but I made it nearer to £3500. Their helpdesk in Newport is very unhelpful and they seem to deliberately misunderstand.
Julie:(

here we go,

if it were my complaint this is what i would be expecting back.

loan 1

difference in settlement of loan with ppi and without ppi = approx £620,
then 18 x 35.45 = £638.10

8% simple on the premiums paid = £155 (approx)
8% simple on difference in settlement = £115 (approx)

so for loan 1 = 620 + 638 + 155 + 115 = £1,528.00 (approx)

loan 2

difference in settlement approx £325
then 7 x 58.80 = £411.60

8% simple on premiums paid = £63 (approx)
8% simple on difference in settlement = £43 (approx)

so for laon 2 = 325 + 411 + 63 + 43 = £842

loan 3

difference in settlement £388
then 9 x 99.13 = £892.17

8% simple on premiums paid = £77 (approx)
8% simple on difference in settlement = £23 (approx)

so for loan 3 = 388 + 892 + 77 + 23 = £1380 (approx)

so in total

loan 1 £1528
loan 2 £842
loan 3 £1380

total £3750 (approx)

this is the amount you should be looking to recieve for the settlement on the 3 loans.

wait until you actually ge the offers in writing for all the loans as Lloyds are in a bit of a mess at he moment,

if you email them with aquery put it for the attention of Luke Rossiter, he is very helpfull, just explain that you think the calculation may be in-correct and to take a re-look at them

cheers

julieanndavies

I really am very impressed with what you have done for me. Many thanks.
Julie

julieanndavies

Sorry robbeb but I did not receive your personal message as it was blocked by a pop up blocker. could you resend please
Julie

robbedofmymoney

julieanndavies wrote: »

Sorry robbeb but I did not receive your personal message as it was blocked by a pop up blocker. could you resend please
Julie

thats fine it was only a link to this posting