Asking for some help from some of you experts out there!

happymoneysaver1

Hiya,

I was wondering if there was someone on this forum that could help me with some calculations. If there is maybe an expert or someone with good Ppi inside knowledge that I could PM with my loan details and they could give me a rough idea of what my redress should be.

I have had an offer from tsb but from my calculations it is way off mark(I might be totally wrong). I have rejected the offer saying their calculations are wrong as they have not taken into consideration the 2nd consecutive loan but they have came back saying I've accepted the offer (which I haven't! But that's another story lol!!)

Anyway, I was just wanting to see if I'm being totally daft with my calculations and for once the tsb has got it right. If that's the case, I'll retreat with my tail between my legs and accept the offer.

Thanks for reading

kittsbud

If you Google it, there are some online PPI calculators that you put your loan and PPI details into, including dates paid etc, and it does it all for you, adding the 8% interest etc.

happymoneysaver1

Hiya, thanks for your reply.

The problem I have is these calculators don't seem to factor in it was 2 consecutive loans, first with Ppi, second wasn't but 1st paid off early by taking out new 2nd loan. Ppi was front loaded on 1st loan and included in the settlement figure carried onto 2nd loan. Tsb have according to my figures calculated the figures correctly on the 1st loan but no-where does it take into account there is still a preloaded amount carried onto the 2nd loan. Phew, I'm confusing myself here lol!

Do you know of a great calculator I could use? Thanks again

amersall

To calculate the money carried over to the 2nd loan you would need the rebate amount that they gave you on settlement, just to let you know, this rebate would have been taken off the redress for loan 1.
Loan 1, they will give you the whole PPI back less the rebate amount, they take off the PPI that you did not pay as you settled early, you get the remaining PPI back that was paid back by you at settlement plus the 8%.

Bet you are even more confused now? :rotfl:
Have you received a breakdown of how they worked it out?.

happymoneysaver1

Hey there,

Yes, I've got the figures they gave me on how they got to their offer figures. There was no rebate on the First loan as The balance that was outstanding on loan 1 at month 20 (I think month 20 as paperwork upstairs) was the actual balance carried forward to loan 2, then a further advance was added to this to make a larger loan 2. There was no Ppi on this 2nd loan but it still included the original £800 of front loaded Ppi....am I making sense lol! Do you want me to pm you all the figures I have? Don't worry if I'm putting you in a position, you can say no lol

amersall

No prob lol, may not be able to work it out, but I will give it a go.