PPI Reclaiming discussion Part II

Laini

Drunky_Monkey wrote: »

Marshallka,

The figures are as follows:

Cash Loan - £11,000
Credit Charge - £4,350.16
Total Cash Loan - £15,350.16

PPL - £2967.91
Charge for Credit for PPL - £1,108.61
Total Insurance Loan - £4,076.52

Total Amount to pay - £19,426.68

84 payments of £231.27. Think im on payment 58.

usually the PPI works out at about 20% of the monthly payment so I would say 46.25 is your monthly ppi.

46.25 x 58 = 2682.50 paid to date on the ppi

put the monthly payments in the MSE charges calculator so you get the 8% accumlative interest for each payment.

this will show how much you should ask for on the payments made and then the single premium amount + 8% added to that to give you a figure of putting you back inthe same position.

also my blonde sum worked out ok for First Plus figure

payments + single premium + 8% - rebate (if already settled loan)

but wait for Tiggrae to confirm or say different.

hope this helps

marshallka

maxdp wrote: »

May have to register but this is the link:D
http://www.penaltychargesforum.co.uk/forumdisplay.php?f=378

Yes you do have to register.

maxdp

Laini wrote: »

usually the PPI works out at about 20% of the monthly payment so I would say 46.25 is your monthly ppi.

46.25 x 58 = 2682.50 paid to date on the ppi

put the monthly payments in the MSE charges calculator so you get the 8% accumlative interest for each payment.

this will show how much you should ask for on the payments made and then the single premium amount + 8% added to that to give you a figure of putting you back inthe same position.

but wait for Tiggrae to confirm or say different.

hope this helps

Hi still need to know first payment date and the monthly payment of PPI including interest I think, or I do to make sense but as I said am amateur but will try to help:eek:

marshallka

Laini wrote: »

usually the PPI works out at about 20% of the monthly payment so I would say 46.25 is your monthly ppi.

46.25 x 58 = 2682.50 paid to date on the ppi

put the monthly payments in the MSE charges calculator so you get the 8% accumlative interest for each payment.

this will show how much you should ask for on the payments made and then the single premium amount + 8% added to that to give you a figure of putting you back inthe same position.

but wait for Tiggrae to confirm or say different.

hope this helps

I think Tiggrae posted something similar a couple of pages... This is how she worked my co-op one out too. Thats with the FOS at the mo so will have to check when i win (LOL). Wishful thinking but hey, you have to.

marshallka

Laini wrote: »

usually the PPI works out at about 20% of the monthly payment so I would say 46.25 is your monthly ppi.

46.25 x 58 = 2682.50 paid to date on the ppi

put the monthly payments in the MSE charges calculator so you get the 8% accumlative interest for each payment.

this will show how much you should ask for on the payments made and then the single premium amount + 8% added to that to give you a figure of putting you back inthe same position.

also my blonde sum worked out ok for First Plus figure

payments + single premium + 8% - rebate (if already settled loan)

but wait for Tiggrae to confirm or say different.

hope this helps

So what figure have you come up with Laini. Drunky monkey added this earlier


""""I had a letter Friday saying that they havent done anything wrong in selling me the PPL but as a valued customer they are prepared to put me back in a position I would have been if I had not take out the PPL. This is done with without admission of liability and in full and final settlemet of my complaint. I assume i will be getting a sum of £4076 which was the total cost of the PPL taken off my balance which is about £5100 at the moment""""""


I will have a go myself too.

Laini

maxdp wrote: »

Yes but FOS adjudicator can only mediate. Have sent figures in showing how they owe me an extra £3750.00 and am awaiting their response. This is what I have been saying that FOS only mediate just because they uphold complaint they do not work out figures and people assume that because it has gone through FOS it will be sorted fairly. IT IS NOT:mad:. To all out there check and double check figures.
Tiggrae told me that 7 out of 10 of the figures that come back through FOS are incorrect. FOS do not check them.
Am not giving up:rotfl:

I was lucky
we got more than I thought we would so took it and ran!!!

we might not be so lucky with Nemo so will be checking with a fine tooth comb got SAR so can check on payments made.

hope you hear something soon
good luck
laini xx

Laini

marshallka wrote: »

So what figure have you come up with Laini. Drunky monkey added this earlier


""""I had a letter Friday saying that they havent done anything wrong in selling me the PPL but as a valued customer they are prepared to put me back in a position I would have been if I had not take out the PPL. This is done with without admission of liability and in full and final settlemet of my complaint. I assume i will be getting a sum of £4076 which was the total cost of the PPL taken off my balance which is about £5100 at the moment""""""


I will have a go myself too.

blonde sum

payments to date 2682.50
PPI 4076.52
=6759.02
+ 8%

TOTAL 7299.74

maxdp

Laini wrote: »

I was lucky
we got more than I thought we would so took it and ran!!!

we might not be so lucky with Nemo so will be checking with a fine tooth comb got SAR so can check on payments made.

hope you hear something soon
good luck
laini xx

Oh well done Laini. Good for you. Mine has been going on since May. When it finally sorted will put figure on here so people can see how my bank tried to fleece me but not good idea at moment . Eyes and ears are on here. My god think am getting paranoid:eek:

marshallka

Laini wrote: »

blonde sum

payments to date 2682.50
PPI
+ 8%

TOTAL

(LOL). Will have a look too.

Laini

maxdp wrote: »

Hi still need to know first payment date and the monthly payment of PPI including interest I think, or I do to make sense but as I said am amateur but will try to help:eek:

Yep you are right we do need the first payment date but just trying to get a ball park figure quickly
I did have a couple of people work it out for me too on spread sheets.

but to be honest the APR bit didnt seem to come into it for me for our FP refund.

I was just trying to say how it worked out for me and to be honest we were happy that it was over 12,000 for our FP refund