calculating PPI

maria2204

Morning Guys,

Im so sorry I must sound thick, have read a number of Forum post and even more confused. People are saying about working out your PPI payments then multiplying by the number of months etc...

My problem is I used loans to pay loans off, and payed or had the premium added upfront to loan.

A summery

Loan 1 16,300 +3368.25 PPI =19,668.25 so thats the amount I had to borrow I made 11 payments then Borrowed

Loan 2 20,000 +4332.89 PPI = 24,332.89 I paid off 1st Loan from this of 16,657.46 therefore haven't I borrowed and Paid full PPI as thats what Ive paid back. made 10 payments

Getting confused as people are saying no the PPI per month was 68.94 and as I only had made thats all I get back. But in hindsight I've paid it fully upfront and had to include this in my final repayment?????

Loan 3 24,000 +5091 PPI = 29,091 thats what I actually had to borrow, paid off fully after 17 payments final payment including PPI, however there was a credit description "other" for 2,454.88.

So where Ia I not seeing if I have paid payment up front then paid loan off why can't I claim full PPI.

Dazed and confused

Regards Maria

amersall

Loan 1 16,300 +3368.25 PPI =19,668.25 so thats the amount I had to borrow I made 11 payments then Borrowed

When you settled this loan you would have had a rebate of the ppi on settlement, you would get the whole PPI back plus 8% less the rebate they gave you.

Loan 2 20,000 +4332.89 PPI = 24,332.89 I paid off 1st Loan from this of 16,657.46 therefore haven't I borrowed and Paid full PPI as thats what Ive paid back. made 10 payments

Same with this, total PPI back, plus 8% less the rebate when you settled.

Loan 3 24,000 +5091 PPI = 29,091 thats what I actually had to borrow, paid off fully after 17 payments final payment including PPI, however there was a credit description "other" for 2,454.88.

They give you the whole PPI back less the rebate, this is the "other" plus 8%.