PPI Reclaiming successes and failures

di3004

caza888 wrote: »

Can anyone help me calculate how much I am due back. I took out a loan in march 2006 for £ 14000 which also had Ppi on top of that that cost £3064. (total amount £17064) I paid £375.00 per month for 60 months and I paid off the PPI first. I finished paying off the loan march this year. I'm not sure how you work out how much I am due back from barclays?

Hiya

Will leave the calcs to Niggly and Ian who I'm sure will be here soon.

Have this been resolved?


If you've not started the reclaiming yet, only to say you don't actually require the figures at this point as they should send them on request if successful, although they are useful to have and to check upon just in case.;)

tifosi

caza888 wrote: »

Can anyone help me calculate how much I am due back. I took out a loan in march 2006 for £ 14000 which also had Ppi on top of that that cost £3064. (total amount £17064) I paid £375.00 per month for 60 months and I paid off the PPI first. I finished paying off the loan march this year. I'm not sure how you work out how much I am due back from barclays?

Hi Caza,

can you tell us the interest rate on the loan?

weewen

thegaffer wrote: »

Hi All,

MBNA would appear to be paying out a lot of claims (1 paid out and awaiting the outcome of another) However reading through the threads Ive not seen many Lloydstsb claism for credit cards ? Im at week 12 with my claim (4 weeks left !) but wondered if anyone had been successful with Lloydsat all ?

Hi, i am at the same satge as you. I have 2 awaiting (1 card, 1 loan). I have emailed and written. They have been the slowest to respond which is very frustrating as this has been the bank that's had all my business all my life! Just a waiting game.

IANC

caza888 wrote: »

Can anyone help me calculate how much I am due back. I took out a loan in march 2006 for £ 14000 which also had Ppi on top of that that cost £3064. (total amount £17064) I paid £375.00 per month for 60 months and I paid off the PPI first. I finished paying off the loan march this year. I'm not sure how you work out how much I am due back from barclays?

Without knowing the APR of the loan, we can't work out the interest owed on your PPI premiums.

I think I am correct in saying that to work out the PPI premiums, you divide the PPI lump sum by the total loan amount

3,064/17064 x 100 = 18%

So out of the £375 monthly premium, 18% (£67.5) is the amount that was used to purchase the PPI.

So PPI premiums = £67.5 x 60 = £4,050
Then the interest will be added to those premiums.

And 8% simple interest added up to the date the claim is paid.

Going to be a big payout

No doubt Niggly will come on and show me I have done it wrong :rotfl:

lucieloo

k77mss wrote: »

morning guys well done all winners this last week l hope this month is a good one so many people got august deadlines.
well sent my letter recorded yesterday to my blackhorse guy that didn't uphold my claims last week this will be last chance before fos so lets hope he's in a good mood when my letter hits his desk.I added more reasons and explained more why i thought i was missold fingers crossed

Hi k77mss
just wondered if u had received a letter from Mark Smith? And if u had what you thought of it? This complaint has been with FOS for 18 months now too and no movement. Hvae you heard any further?

The_Marksman

weewen wrote: »

Hi, i am at the same satge as you. I have 2 awaiting (1 card, 1 loan). I have emailed and written. They have been the slowest to respond which is very frustrating as this has been the bank that's had all my business all my life! Just a waiting game.

have you emailed the CEO as this seems to get a express reply lol

good luck with your complaints

caza888

di3004 wrote: »

Hiya

Will leave the calcs to Niggly and Ian who I'm sure will be here soon.

Have this been resolved?


If you've not started the reclaiming yet, only to say you don't actually require the figures at this point as they should send them on request if successful, although they are useful to have and to check upon just in case.;)

Had a phone call yesterday saying that barclays will be refunding me by 31st august at the latest as I put my claim in august 2010. I think the interest was 21 or 22 per cent

IANC

caza888 wrote: »

Had a phone call yesterday saying that barclays will be refunding me by 31st august at the latest as I put my claim in august 2010. I think the interest was 21 or 22 per cent

I'll let Niggly do the calculation as my brain is fried after some calcs I have had to do at work.

That interest seems very high for a loan though.

patricia50

thegaffer wrote: »

Hi All,

MBNA would appear to be paying out a lot of claims (1 paid out and awaiting the outcome of another) However reading through the threads Ive not seen many Lloydstsb claism for credit cards ? Im at week 12 with my claim (4 weeks left !) but wondered if anyone had been successful with Lloydsat all ?

Hi, I'm wondering the same thing. Have a claim in for 2 Lloydstsb credit cards and should hear by end of August. Tried e mailing customer services and ceo and recieved the usual "Dealing with cases in date order, want to make sure any potential redress is correct etc etc" but I owe money on my cards, am unemployed at moment and want to know where I stand as i am being chased for payments and if I am going to be able to clear or at least reduce payments I need to know asap.:mad:

caza888

IANC wrote: »

I'll let Niggly do the calculation as my brain is fried after some calcs I have had to do at work.

That interest seems very high for a loan though.

I got close to £6,550, so let's see how far out I am when he has done them :rotfl:

I probably am wrong about the interest:o I just know the loan was for £14000 the Ppi original cost was £3064 and I paid £375 for 60 months