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PPI Reclaiming discussion Part II
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I see you have now also added this thanks;) :
"So 21K minus the 167.52 = 20832.48 + two months interest to settle and fees = about £500 odd so there was £2K odd paid at settlement on the PPI.."
and this you also added
M colak calculations could be right here and then you HAVE to take off the rebate you received from it and it comes to about £1500 odd. You are probably due back about £2K odd.
So do you think its still classed as unfair and taking to the FOS ?
Okay its too late now because its gone lol.
If it were mis selling it would be them of Click I would have to pursue,which I did try but as you know they will not take any responsibilty of this, so what would happen if did end up getting the rest of this rebate from this? and did end up having a chance the mis selling, (although I cannot see it myself with Click).0 -
marshallka wrote: »If you look at what was paid off the capital as I worked the interest out on 21K at 9.9% and it works at £173 odd. You repayments were 208.51 but only 183.72 were to do with the £21K and the rest was to pay the PPI that means that each month you repaid £184 off it only £11 was really coming off your £21K as the rest was the interest charged for borrowing the £21K.
So what Endeavour did was add up the full loan and ppi together as if it were that of 25 years, that again includes the ppi although it was only a cover for 5 years like them all these days......:rolleyes: , then gave a full breakdown at the end ?
Like deducting the amount of loan left
And ppi, plus the extra charges and so ?
Sorry to be dim here hun, I'm trying to learn and pick up as I go along lol.....:D , thanks though.;)The one and only "Dizzy Di"0 -
marshallka wrote: »You have to get back what you can here.
Cheers, so minus the rebate then is it ? (if I'm lucky there that is) lol.
You worked this one out earlier didn't you ? On the mis selling amount ?The one and only "Dizzy Di"0 -
Di, its not just yours that is wrong here in that I have just done mine by the same method.
17K loan and repayments of 281.25 but 56.05 was PPi so actually 225.20 repayments. Then 13.9 APR so of this repayment 28.28 was repaying the capital. 28.28 x 39 = 1102.92. Our loan owing at settlement was about £16K without the PPI bit. Two months interest on top of this bought it to 16392 and then fees 120 = 16512. We repaid to them 20410 so they charged 3898.00 which would have been the PPI extra at settlement. My calculations that tiggrae checked cannot be right.
A rough guide is 20% (which is my PPI element) of the settlement figure. Yours was 11.89% of the settlement. Being 2811.50 which is what m colak worked out here.;)0 -
Pm'd ya Marshallka.....:DThe one and only "Dizzy Di"0
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marshallka wrote: »Di, its not just yours that is wrong here in that I have just done mine by the same method.
17K loan and repayments of 281.25 but 56.05 was PPi so actually 225.20 repayments. Then 13.9 APR so of this repayment 28.28 was repaying the capital. 28.28 x 39 = 1102.92. Our loan owing at settlement was about £16K without the PPI bit. Two months interest on top of this bought it to 16392 and then fees 120 = 16512. We repaid to them 20410 so they charged 3898.00 which would have been the PPI extra at settlement. My calculations that tiggrae checked cannot be right.
A rough guide is 20% (which is my PPI element) of the settlement figure. Yours was 11.89% of the settlement.
I see, different methods used then and I do hope they don't mess this up for any of us with our unfair rebates now that are in with the FOS......, and wonder what calculation methods would be used, would they use the same methods for us both?
Its still confusing isn't it?The one and only "Dizzy Di"0 -
marshallka wrote: »Di, its not just yours that is wrong here in that I have just done mine by the same method.
17K loan and repayments of 281.25 but 56.05 was PPi so actually 225.20 repayments. Then 13.9 APR so of this repayment 28.28 was repaying the capital. 28.28 x 39 = 1102.92. Our loan owing at settlement was about £16K without the PPI bit. Two months interest on top of this bought it to 16392 and then fees 120 = 16512. We repaid to them 20410 so they charged 3898.00 which would have been the PPI extra at settlement. My calculations that tiggrae checked cannot be right.
A rough guide is 20% (which is my PPI element) of the settlement figure. Yours was 11.89% of the settlement.
Just tried to add a post and ERROR came up so posting again here:
I wonder what calculation method they will use then for out FOS complaints ?
Hope they don't mess any of ours up......The one and only "Dizzy Di"0 -
Going for a shower, back soon.:DThe one and only "Dizzy Di"0
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Hi All Hope you Ok have been busy all day
Marshallka you are in terrier mode again. They change the goal posts all the time do not get to involved in it. Just let them work it out then you can agree or not agree
Fos work out their own figures you then check them:D Remember therre are some things you can change others you cannot do not burn yourself out worrying it will work itself out in the end:D:mad:0 -
Sorry folks for going on again but I want to KNOW how these unfair rebates are looked at and how they are calculated so that we are not ripped off anymore. Apparently the FOS will look into these complaints but they only ask for a fairer method of calculation to be used and then you have to either accept that offer or not. If we don't know what is fair then we don't know how much we are being ripped for. I don't trust any of these banks/finance companies now.:mad:0
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