Account Balance after PPI Claim

Parro2403

thanks for the input

-taff

Parro2403 wrote: »

No mate i didnt say that / or certainly didnt intend to....

I received back the ppi plus the 8%

I'm not sure what you mean then.


Did you receive the asociated interest from single premium selling?

[Deleted User]

-taff wrote: »

Did you receive the asociated interest from single premium selling?

If the PPI was paid separately each month (£38.89) then there wasn't a single premium!

Parro2403

Maybe im not making myself very clear because my knowledge of it isnt great... sorry

As far as I am aware, the monthly PPI that was taken varied dependent on the balance

Regarding my arithmetic, the numbers I posted are copied from a statement

Regarding the Balance: Yes I have paid it off i.e. there is no Balance now, however I have already noticed errors with the account from years past which they have confirmed to me and repaid (not just the PPI) after complaining.

In short all i want to know is --- Should there be a capital adjustment to the account?

noh

Parro2403 wrote: »

.....................................
In short all i want to know is --- Should there be a capital adjustment to the account?

No..........

-taff

Moneyineptitude wrote: »

If the PPI was paid separately each month (£38.89) then there wasn't a single premium!

Most people make that mistake because they still have the original that lists how much the premium payment is each month.

-taff

Parro2403 wrote: »

Maybe im not making myself very clear because my knowledge of it isnt great... sorry

As far as I am aware, the monthly PPI that was taken varied dependent on the balance

Regarding my arithmetic, the numbers I posted are copied from a statement

Regarding the Balance: Yes I have paid it off i.e. there is no Balance now, however I have already noticed errors with the account from years past which they have confirmed to me and repaid (not just the PPI) after complaining.


And no, there should't be a capital adjustment because you have received all the monies as a separate cheque, so if they made a capital adjustment, they would have paid you twice.

In short all i want to know is --- Should there be a capital adjustment to the account?

DId you pay single premium PPI? This premium does not change each month it stays the same. Only credit card PPI changes dependent on the amount you owe.

i.e. you borrowed an amount of money for the PPI, and the interest was added onto this, this total was then added to the loan total and interest, and this was all divided by the amount of months you had the loan over?

And no, there shouldn't be a capital adjustment because you have received all the monies in the form a cheque, if they did a capital adjustment, you would have been given the money twice.

[Deleted User]

Parro2403 wrote: »

the numbers I posted are copied from a statement

-taff wrote: »

Most people make that mistake because they still have the original that lists how much the premium payment is each month.

The OP says figures come from a statement, not the agreement (see quote above)

Parro2403

-taff wrote: »

DId you pay single premium PPI? This premium does not change each month it stays the same. Only credit card PPI changes dependent on the amount you owe.

i.e. you borrowed an amount of money for the PPI, and the interest was added onto this, this total was then added to the loan total and interest, and this was all divided by the amount of months you had the loan over?

I have the account in front of me and every monthly PPI figure is different and it is a loan account not a Credit Card

So no i suppose it cant be a single premium ppi

[Deleted User]

Parro2403 wrote: »

I have the account in front of me and every monthly PPI figure is different and it is a loan account not a Credit Card

You very clearly did not pay a single monthly premium.

I'm smelling a rat here...