PPI Reclaiming successes and failures

julieprit2

Would Tifosi, Di, IANC or Marksman etc. etc. be able to help me with some calculations again?! Am not fussy, anyone will do :rotfl:

Just trying to work out my calculations for a payment from Paragon - did try using the calculators attached to the forum but they didn't work for me (maybe user error!)

Anyway the details are as follows:

It was front loaded PPI.

Loan £4071 (don't ask where the £71 came from, I haven't a scooby doo)
Loan started 4/3/98 over 36 months
Interest 19.968%
Total PPI £388.75 and this was front loaded.

Thanks guys you are a great help :cool:

tiesteelm

Just recieved a Consumer Questionaire about my Loan, this must be good news surely....

Martin

ctcraigtaylor

hsbc upheld :jconfirmed by telephone waiting for figuers.

can any help with this though?

Total ppi Inc interest 2167.19
Rebate -1246.88
= 920.80
I paid 216.72 and 703.59 was carried forward into another loan?

Does anyone know what will happen to this £703.59

Any help appreciated

IANC

julieprit2 wrote: »

Would Tifosi, Di, IANC or Marksman etc. etc. be able to help me with some calculations again?! Am not fussy, anyone will do :rotfl:

Just trying to work out my calculations for a payment from Paragon - did try using the calculators attached to the forum but they didn't work for me (maybe user error!)

Anyway the details are as follows:

It was front loaded PPI.

Loan £4071 (don't ask where the £71 came from, I haven't a scooby doo)
Loan started 4/3/98 over 36 months
Interest 19.968%
Total PPI £388.75 and this was front loaded.

Thanks guys you are a great help :cool:

How much was the monthly loan repayment? (the total you paid every month for the loan)

The_Marksman

ctcraigtaylor wrote: »

hsbc upheld :jconfirmed by telephone waiting for figuers.

can any help with this though?

Total ppi Inc interest 2167.19
Rebate -1246.88
= 920.80
I paid 216.72 and 703.59 was carried forward into another loan?

Does anyone know what will happen to this £703.59

Any help appreciated

:rotfl::j:beer: GREAT NEWS, WELL DONE :beer::j:rotfl:

The_Marksman

julieprit2 wrote: »

Would Tifosi, Di, IANC or Marksman etc. etc. be able to help me with some calculations again?! Am not fussy, anyone will do :rotfl:

Just trying to work out my calculations for a payment from Paragon - did try using the calculators attached to the forum but they didn't work for me (maybe user error!)

Anyway the details are as follows:

It was front loaded PPI.

Loan £4071 (don't ask where the £71 came from, I haven't a scooby doo)
Loan started 4/3/98 over 36 months
Interest 19.968%
Total PPI £388.75 and this was front loaded.

Thanks guys you are a great help :cool:

Im in the scooby doo club im afraid :rotfl::rotfl::rotfl: not good with the figures but the others aced their maffs exams :rotfl::rotfl:

julieprit2

IANC wrote: »

How much was the monthly loan repayment? (the total you paid every month for the loan)

Flip, I *think* it was £127.00 per month
. Cheers Ian

IANC

ctcraigtaylor wrote: »

hsbc upheld :jconfirmed by telephone waiting for figuers.

can any help with this though?

Total ppi Inc interest 2167.19
Rebate -1246.88
= 920.80
I paid 216.72 and 703.59 was carried forward into another loan?

Does anyone know what will happen to this £703.59

Any help appreciated

There is some confusion about this as the 2nd loan amount was more than it should have been as the PPI should never have been carried forward.

If it were me, I would want the £703.59 removing from the new loan for a start.

I would want any PPI premiums that have been paid on the new loan refunding with 8%.

And I would want the loan restructuring going forward to ensure that no further PPI premium are paid and therefore your monthly payment should be lowered accordingly.

So to recap.

• Refund of PPI from first loan plus 8% interest to the date they settle.
• New loan restructured to have the carried forward PPI removed and future ppi premiums removed to lower the monthly payment.
• The original amount borrowed on the 2nd loan should also be reduced by the carried forward PPI.

That is my opinion anyway

ctcraigtaylor

IANC wrote: »

There is some confusion about this as the 2nd loan amount was more than it should have been as the PPI should never have been carried forward.

If it were me, I would want the £703.59 removing from the new loan for a start.

I would want any PPI premiums that have been paid on the new loan refunding with 8%.

And I would want the loan restructuring going forward to ensure that no further PPI premium are paid and therefore your monthly payment should be lowered accordingly.



So to recap.

• Refund of PPI from first loan plus 8% interest to the date they settle.
• New loan restructured to have the carried forward PPI removed and future ppi premiums removed to lower the monthly payment.
• The original amount borrowed on the 2nd loan should also be reduced by the carried forward PPI.

That is my opinion anyway

to make make it more complicated the carried forward loan was a managed loan with a high interest rate then transfered to a normal loan 2 years later.

all have been paid off in full now. Will i get back at least the £920.31 ??

IANC

julieprit2 wrote: »

Flip, I *think* it was £127.00 per month
. Cheers Ian

Well, the PPI represents 9.5% of the total amount borrowed.

So that means that you will have paid around £12 per month in PPI premiums.

So 36 x 12 = £432 in premiums.

The 8% on premiums paid would on these premiums.

And then 8% would be added to the total from the date the loan finished until the date they settle.

I don't have a spreadsheet here to work it out, perhaps Niggly or Tifosi may be able to help soon