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PPI Reclaiming discussion Part II

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Comments

  • marshallka
    marshallka Posts: 14,585 Forumite
    quisait wrote: »
    That I don't know. Is it not able to be worked out from the figures that I gave?
    Done you the figures above. Without knowing what rebate you had i cannot work it properly but gives you some idea.

    Hope it helped :D
  • quisait
    quisait Posts: 51 Forumite
    marshallka wrote: »
    Done you the figures above. Without knowing what rebate you had i cannot work it properly but gives you some idea.

    Hope it helped :D

    Thanks. I'll go back to them and ask!
  • di3004
    di3004 Posts: 42,579 Forumite
    quisait wrote: »
    Thanks. I'll go back to them and ask!

    Hi there

    You could actually request them to send you a full written breakdown by post, that way they should include what you need to know, you can add again on here then for it to be double checked.;)
    The one and only "Dizzy Di" :D
  • marshallka
    marshallka Posts: 14,585 Forumite
    mickey54 wrote: »
    My son took out a loan APril 2002 for £4000.00 plus - PPI 995.34 (Monthly rate 1.39% - APR 17.9%) for 60 months.
    In October 2004 he re-financed. 235.68 was taken off the balance of PPI and the rest was transferred with the balance of loan (2760.36 in total). He borrowed a further 4739.64 plus PPI of 1687.27 at 1.02% monthly - APR 12.9%. - Total due 9187.00 again over 60 months

    He has had the PPI plus interest from the 2004 loan returned (cleared off his loan).
    He has also had the £759.66 returned. Interest only £337.

    I maintain that he should have the interest on 995.34 from April 02 - Oct 04....
    then interes on 759.66 from Oct 04 till cleared account in May 2008.

    Can someone help me with the arithmatic on this please??? I have tried - but keep coming up with different amounts.

    Thanks for you help guys...:A
    The PPI element was 19.91%

    You made 30 repayments and 19.91% of each repayment is 24.51. So

    30 x 24.51 = 735.30
    Actual PPI was 1470.60 - repayments 735.30 - rebate 235.68 = 499.62

    499.62 + 735.30 = 1234.92 is what the PPI cost on the first loan. Don't know how to work the second one out though. Sorry but tried. I will have to learn more...try it later.
  • di3004
    di3004 Posts: 42,579 Forumite
    Anne.Jade wrote: »
    Hi Doddy

    As a fellow FirstPlus complainer, I just wanted to say that I had the same fob off letter as you and I then asked them for copies of the conversations and Agreements which they sent without my requesting a SAR (although they did hold the most incriminating conversation back hoping that I wouldn't notice but I did and I managed to get it off them eventually). Might be a bit quicker than requesting a SAR cos you can bet your bottom dollar that they won't give in without you going to the FOS! They did eventually offer me an enhanced rebate though but I didn't accept it so I am sitting in this queue for the FOS. They would point out about the refund wouldn't they cos it's not half as much as you would get back if you won!!

    Hi there Anne.Jade
    Hope your well and its good to see you back hunni.:beer: ;) . x
    The one and only "Dizzy Di" :D
  • Anne.Jade
    Anne.Jade Posts: 127 Forumite
    di3004 wrote: »
    Hi there Anne.Jade
    Hope your well and its good to see you back hunni.:beer: ;) . x
    Hi Di

    I'm always hanging around here, I don't have a life LOL!

    Anne x
  • marshallka
    marshallka Posts: 14,585 Forumite
    quisait wrote: »
    Thanks. I'll go back to them and ask!
    Like Di says you can ask for a breakdown of the settlement. You know once you have that figure though its a matter of taking it away on the first line and then adding it on the second one. Let me know when you get it.
  • di3004
    di3004 Posts: 42,579 Forumite
    Anne.Jade wrote: »
    Hi Di

    I'm always hanging around here, I don't have a life LOL!

    Anne x

    PMSL........:rotfl: snap lol, :D x
    The one and only "Dizzy Di" :D
  • marshallka
    marshallka Posts: 14,585 Forumite
    di3004 wrote: »
    Hi there

    You could actually request them to send you a full written breakdown by post, that way they should include what you need to know, you can add again on here then for it to be double checked.;)
    Di, going off for a while but may be back on later. Just thought i'd let you know I have not gone off on one. (well not yet anyway:o )
  • marshallka
    marshallka Posts: 14,585 Forumite
    marshallka wrote: »
    PPI element was 29.88%. Therefore you made 37 repayments and of the repayments you actually made then 29.88% comes to £35.35, so 35.35 x 37 = 1307.76

    Your actual PPI plus interest was 2545.20 - repayments made 1307.76 = 1237.44 less whatever rebate you had ???? =

    Then you add this end figure to the actual payments (1307.76) and this is what you actually paid for the ppi so this is what your repayment should have been.

    I cannot work it without knowing how much was originally rebated for the PPI at settlement.:confused:
    Lets put it this way if your settlement rebate was about £510.80 against the PPI originally then its OK.;)

    They paid you £2034.40
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