Egg Loan PPI claim calculations, help please!

pebbles23

Hi all,

Firstly, I would like to thank this site and all the ppl who contribute to the forums to make it so helpful.

I finally initiated my first and only claim for a PPI refund on my most recent Egg top-up loan taken out in 2004.

Here is my timeline so far,

16/12/11: Sent SAR request

05/01/12: SAR information received

17/01/12: FOS questionnaire sent.

20/01/12: Acknowledgement letter of complaint received.


I am having real difficulty understanding how to calculate what I should be expecting should my complaint be upheld.
This is where it gets abit complicated as I also had a previous loan with PPI that I had forgotten about.

If anyone can help me with these calculations I can send more details of these loans to you.

Thank you
Christine

amersall

You get ppi back that you have paid to date and 8% interest.

If the loan ran to term,you get the whole ppi back with 8%.

If the loan is still running,the whole ppi is taken off the loan,the loan is reset without ppi and your monthly payment reduces by the monthly ppi amount,you get all ppi back to you that you paid to date of redress with 8%.

As the second loan was a top up loan,when this loan settled the previous,they will have given you a rebate of ppi,this will be taken off any redress you may get,the remaining ppi from the first loan went into the second loan,you get this back too.

If you win redress,post the amounts up and someone will take a look at them to make sure they are correct.