Lloyd's tsb Ppi

karrianne32

Hi, I put in a claim for Ppi, following the advice found here. Lloyd's denied it and the complaint has been with the financial ombudsman for 2 years. I have received a letter today (after complaining over the lack of timescales the ombudsman was providing) and it states they have upheld my complaint and propose to Lloyd's that they settle.
My question is....... How is a refund calculated?
The figures are
Cash loan. Optional loan protection. Total loan
Amount of credit. £3000. £746.58. £3746.58
Monthly repayment. £73.95. £18.40. £93.35
APR 17.9%
Loan term 60months
Date of loan 24/7/2002

Any help would be appreciated
Karen

-taff

746 plus 8% simple interest [and possibly minus 20% tax on the interest]

karrianne32

-taff wrote: »

746 plus 8% simple interest [and possibly minus 20% tax on the interest]

Hi Taff, everywhere I've looked has calculations on the individual months since each payment was made. Is this not the case?
K