We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Some Maths help required!
bumpydog
Posts: 63 Forumite
Just been digging through some old bank statements.
I have an old Barclays Credit Agreement from 2000.
The details on the agreement are as follows:
Amount of Loan: £3100
Total Charge for Credit: £506.96
Total Amount Payable: £3,606.96
APR 15.9%. Number of Repayments 24.
If I work out the total amount payable however from the APR is comes to £3639.30 which doesn't match???
The reason I'm asking if that the amount of the loan seems a bit suspicious to me. I don't recall much about taking it out, but the amount seems quite specific. Could the additional £100 be a case of front loaded PPI? I would not knowingly have taken this out.
I have an old Barclays Credit Agreement from 2000.
The details on the agreement are as follows:
Amount of Loan: £3100
Total Charge for Credit: £506.96
Total Amount Payable: £3,606.96
APR 15.9%. Number of Repayments 24.
If I work out the total amount payable however from the APR is comes to £3639.30 which doesn't match???
The reason I'm asking if that the amount of the loan seems a bit suspicious to me. I don't recall much about taking it out, but the amount seems quite specific. Could the additional £100 be a case of front loaded PPI? I would not knowingly have taken this out.
0
Comments
-
Surely if PPI had been added it would have been itemised on the statement,also £100 does not look a lot for PPI on £3000 over 2 years.0
-
Its not PPI. PPI has to be itemised on the agreement. Plus, the difference is far too small to be PPI.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
-
Ok. Thanks for your responses.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards