PPI Reclaiming discussion Part II

marshallka

Just found my settlement figures for a loan with co-op of 1999.
Total Loan £9000
PPI £2068.75
PPI element 18.6% (Get this by taking the PPI and dividing it by loan and PPI added together.)
made 5 repayments of 237.05 and then settled, (was originally over 5 years)
so 5 x 44.09 (which is 18.6% of the repayment) = £220.45 PPI

14242.80 (this is the total loan which is £237.05 x 60) x 18.6% which equals £2649.16 (PPI)
so 2649.16 (PPI) - 220.45 (the 5 repayments of the PPI of £44.09) -rebate of insurance of 1617.69 (This figure is on your settlement) = 811.02
811.02 + 220.45 (payments made) = 1031.47 which was the total cost of my PPI for 5 months. :mad: :mad:

I want this back and the statutory interest too. I am going to email my adjudicator on this as I don't think i asked for the stat int.

Tiggrae can you confirm my figures here???

di3004

marshallka wrote: »

Just found my settlement figures for a loan with co-op of 1999.
Total Loan £9000
PPI £2068.75
PPI element 18.6%
made 5 repayments of 237.05 and then settled, (was originally over 5 years)
so 5 x 44.09 = £220.45 PPI

14242.80 x 18.6% 2649.16
so 2649.16 - 220.75 -rebate of insurance of 1617.69 = 810.72
810.72 + 220.75 = 1031.47 which was the total cost of my PPI for 5 months. :mad: :mad:

Tiggrae can you confirm my figures here

All that for 5 months...:eek: :mad: !!

How did you work your loan separate to your ppi hun?
I want to go through a couple of mine, as you know they do not disclose it without on the agreement etc......:rolleyes: , cheers hun.;)

(Off for a shower and to make the sarnies for my son for school tomorrow then back).:D

marshallka

di3004 wrote: »

All that for 5 months...:eek: :mad: !!

How did you work your loan separate to your ppi hun?
I want to go through a couple of mine, as you know they do not disclose it without on the agreement etc......:rolleyes: , cheers hun.;)

(Off for a shower and to make the sarnies for my son for school tomorrow then back).:D

I will change the post now and then you can see every step;)

marshallka

di3004 wrote: »

All that for 5 months...:eek: :mad: !!

How did you work your loan separate to your ppi hun?
I want to go through a couple of mine, as you know they do not disclose it without on the agreement etc......:rolleyes: , cheers hun.;)

(Off for a shower and to make the sarnies for my son for school tomorrow then back).:D

You know how much you PPI is without the interest. Its either a seperate figure on the agreement or a seperate agreement. Mine agreement said loan £9000 and then PPI £2068.75. (these figures are both without the interest added,)

di3004

marshallka wrote: »

You know how much you PPI is without the interest. Its either a seperate figure on the agreement or a seperate agreement. Mine agreement said loan £9000 and then PPI £2068.75. (these figures are both without the interest added,)

Yes for Example the loan on the Twopart/eloan was £43000k loan
And £8492.50 ppi without the interest then?

(I know we have worked this out but its something I do really need to learn too as I go along with others).;)

marshallka

di3004 wrote: »

Yes for Example the loan on the Twopart/eloan was £43000k loan
And £8492.50 ppi without the interest then?

(I know we have worked this out but its something I do really need to learn too as I go along with others).;)

It was not the same on your eloan as they refunded most of it and did not charge you interest on the settlement.

di3004

marshallka wrote: »

It was not the same on your eloan as they refunded most of it and did not charge you interest on the settlement.

I see, i still wonder where that extra £500 odd had to be carried over to the advance loan though and have been trying to find the paperwork for this :rolleyes: , and even though it was an advance for £12K it was that of £11K something we received.... even though the paperwork is that of then £55K on the 2nd loan and almost £67K with ppi. There is so much paperwork, and going to check out the keyfacts too.;)

marshallka

Right Di

PPI element 16.4%
370.53 x 16.4% = 60.76 x 9 = 546.90
8492.00 (total PPI) - 546.90 (repayments of PPI x 9) - 7644.43 (rebate of PPI when you settled = 300.67

300.67 + 546.90 = £847.57 total PPI to cover 9 months on a loan 43K (equals £94.17 per month for the PPI)

mine was a loan of 9K and worked out at £205.00 per month over the 5 months

di3004

marshallka wrote: »

Right Di

PPI element 16.4%
370.53 x 16.4% = 60.76 x 9 = 546.90
8492.00 (total PPI) - 546.90 (repayments of PPI x 9) - 7644.43 (rebate of PPI when you settled = 300.67

300.67 + 546.90 = £847.57 total PPI to cover 9 months on a loan 43K (equals £94.17 per month for the PPI)

mine was a loan of 9K and worked out at £205.00 per month over the 5 months

Marvellous thanks hun again lol......:D
They certainly robbed you though hun......:mad:

marshallka

di3004 wrote: »

I see, i still wonder where that extra £500 odd had to be carried over to the advance loan though and have been trying to find the paperwork for this :rolleyes: , and even though it was an advance for £12K it was that of £11K something we received.... even though the paperwork is that of then £55K on the 2nd loan and almost £67K with ppi. There is so much paperwork, and going to check out the keyfacts too.;)

It was £559.25 you were shorted of during taking the second loan. I have just looked back. I wonder if it was a fee/charge of some sort??