help..claiming back ppi on secured loan....

emmpee

hi there finally got someone at blackhorse to give me some correct figures
here go,s...
£18000,loan.....120 mnths.
payments £214.91 +ppi (£98.98p)=£313.89 per mnth
made 3 payments according to them before i cleared the loan off 6 mnths later for £20,206.68..
thats about all i have just now.....cheers

Consumerist

emmpee wrote: »

hi there finally got someone at blackhorse to give me some correct figures
here go,s...
£18000,loan.....120 mnths.
payments £214.91 +ppi (£98.98p)=£313.89 per mnth
made 3 payments according to them before i cleared the loan off 6 mnths later for £20,206.68..
thats about all i have just now.....cheers

Hi emmpee,

Just to confirm - you made 3 of the monthly payments and then cleared the loan 9 months after taking it. These are the numbers I will use.

I'll be back.

emmpee

just had another phone call regarding this...

apparently i made 3 of the monthly payments and then cleared off the loan with an early settlement figure of £20,206.68 (due to a re-mortgaging consolidation loan)..if this helps...thanks

di3004

emmpee wrote: »

just had another phone call regarding this...

apparently i made 3 of the monthly payments and then cleared off the loan with an early settlement figure of £20,206.68 (due to a re-mortgaging consolidation loan)..if this helps...thanks

Hiya

I expect our Comsumerist will be back at some point today to take a look at this for you.;)

Consumerist

emmpee wrote: »

just had another phone call regarding this...

apparently i made 3 of the monthly payments and then cleared off the loan with an early settlement figure of £20,206.68 (due to a re-mortgaging consolidation loan)..if this helps...thanks

So, just to confirm, does that mean you paid off the loan after three months (i.e. not 9 months) and that you did not miss any payments ?

If you did not miss any payments, it makes the estimate easier because there would be no need to make any allowance for additional charges arising from them.

di3004

That was quick Consumerist lol.:D Cheers though.;)

Consumerist

di3004 wrote: »

That was quick Consumerist lol.:D Cheers though.;)

Forgot to go off-line.

Makes a change to have some numbers to go on.

emmpee

hi ..paid off loan after only 3 months (18/feb/2005--ended 20/jun/2005)..no missed payments..cheerz..

Consumerist

emmpee wrote: »

hi ..paid off loan after only 3 months (18/feb/2005--ended 20/jun/2005)..no missed payments..cheerz..

OK thanks, got that.

So far it's looking like you may have been overcharged at settltment . . . but we'll see.

Coffee time.

Consumerist

Well, this is what I've come up with :-

Mis-sold PPI refund: £423 for September 2010 payment + refund of any overcharge on the early-repayment.

Detail

If PPI was mis-sold then 3 premiums of £98.98 are refundable + interest at 8% pa simple since paid.
June 2005 - Sept 2010 = 63 months
Refund = 3 x £98.98 = £296.94
Refund interest = £126.69
Total refund = £296.94 + £126.69 = £423.63 for September 2010 payment.

Edit
See post #23.