PPI Reclaiming successes and failures

sorryitsme

Derwent wrote: »

You're right it does. From the details you have provided, your refund would be in the region of :-

PPI Premiums £1,767
Contractual Interest £384
Stat Interest @ 8% £1,171

Total Refund £3,322

How did you work out contractual interest?

I am trying to play around with a few calculations of my own but I am getting in a muddle:(

sunny8_2

only_mee wrote: »

Sorry thought it was straight 8% , i''ll refrain from calculations now

hahaha - no worries...i used to think the same & working that out was my limit!! lol, i have looked back through some of niggly & tifosi's calcs but still cant make sense of it....:o its all a blur to me :eek: thank you for trying though :A:A xx

sunny8_2

Derwent wrote: »

You're right it does. From the details you have provided, your refund would be in the region of :-

PPI Premiums £1,767
Contractual Interest £384
Stat Interest @ 8% £1,171

Total Refund £3,322

Awwww, thank you Derwent.....didnt realize that you were a whizz kid in the brains department too:T:T:T Thank you very much...woooohooooo...cant wait to get the offer now:j:j:j:j:j:j:j:j:j
I will let you all know what happens..i must say..we will be gutted at paying cmc 25% but hey ho..we didnt know about this site back in the days:rotfl::rotfl: sooo glad we know about it now...:T:T:T:T, thanks hun:j:jxx

amersall

only_mee wrote: »

Sorry thought it was straight 8% , i''ll refrain from calculations now

:D You can join me and Di in the "no idea on the 8%" club :rotfl:

amersall

sunny8 wrote: »

Hia, just wondering if you guys sorted a calculations sticky??
I know they can be long & boring at times, but are mostly informative.
Iv been in the loft for the last 2 hrs & dug out my oh agreement - we have been told by the cmc that his claim has been upheld on the 29th July but haven't received anything yet..paperwork or otherwise, so i am not getting excited...yet..(:j:j:j:j:j:j:j:j:j:T:T:T:T:T:T)..well maybe just a little!!:D so i was wondering if niggly/tifosi would have a little look for moi? pretty please?

Loan dates: 02/2004 to 01/2008
sum borrowed: £8750
PPI: £1767
Monthly repayment amount:£264.67
Total amount: £12704.16
Interest rate: 10%

Sorry to ask & clog the board but it's doing my head in!!!:eek::eek::eek:

Many thanks in advance...and anticipation!! lol xx

Hi there, i have messaged mse Wendy and asked for a sticky for the calculations,hopefully this will be done.

Derwent

sorryitsme wrote: »

How did you work out contractual interest?

I am trying to play around with a few calculations of my own but I am getting in a muddle:(

Principal sum of 8750 (A) and PPI Premiums of 1767 (B)

A + B = 10517 (C)

B as a % of C = 16.8% (D)

Total Repayable = 12704 (E)

Interest Paid Overall = E - C = 2187 (F)

Interest Paid on PPI = F x D = 367

This formula usually gives a very good estimate of the interest.

sunny8_2

Derwent, do you mind me asking, when did you hear that you had your MBNA loan upheld?? i had seen about your cc last week & am very envious i must add ;-) !!, but wondered when you heard about the loan...i have both cc & loan in with MNBA since beg July, had a letter to say they would contact by 12/09/2011. Im bothered they uphold one & think im greedy & refuse the other!! :-( xx

only_mee

Derwent wrote: »

You're right it does. From the details you have provided, your refund would be in the region of :-

PPI Premiums £1,767
Contractual Interest £384
Stat Interest @ 8% £1,171

Total Refund £3,322

Can you explain how you work it out?

taren

sunny8 wrote: »

YYEEYY!!!! Congratulations:T:T Its sooo good to hear that people are getting back from MBNA...like you, i emailed them 14th July, had 2 x letters saying they need further time to 12th sept:cool: Hope it will be good news:eek: Did they give you a date to have it resolved by and did you hear from them earlier? well done xx

Hi sunny8,
5th july email was mbna confirming my complaint by email
15th july email was saying they apologised and would respond by the 15th august
15th august email apologising again and saying they would still like the oppourtunity to resolve within 21 days
16th august - they posted me a letter confirming the refund, lette arrived on the 20th august

Hope this helps

sunny8_2

Derwent wrote: »

Principal sum of 8750 (A) and PPI Premiums of 1767 (B)

A + B = 10517 (C)

B as a % of C = 16.8% (D)

Total Repayable = 12704 (E)

Interest Paid Overall = E - C = 2187 (F)

Interest Paid on PPI = F x D = 367

This formula usually gives a very good estimate of the interest.

WOW :T:T:T Go Derwent, Go Derwent :j:j:jxx