PPI Reclaiming discussion Part II

tiggrae

marshallka wrote: »

I like yours better tiggrae. So i can work them:j :beer:

you sure can - see you don't need me !!!! :cool:

tiggrae

marshallka wrote: »

I am sure bezntom will be chuffed with this. It was egg that stated in this that on advice of an adjudicator they could do this this way.??

finally got letter back stating "Please find the paragraph below which has been authorised by an adjudicator in the Financial Ombudsman Service in relation to how banks calculate refunds.
"Basically if a customer owes money to the bank the bank can deduct the amount the customer owes from the amount it owes to the customer.It usually does this by transferring money held to the credit of one of the customers other accounts,( my loan is still active by the way).

what a load of b%&£ocks

marshallka

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

This was Di's first eloan loan and she seemed to think that she was charged more than I worked out here but I have worked it out as the PPI element was 16.4% and the figures above but she is still unsure of these. I have done this 3 times now and still get the same amount. Can you check these too tiggrae.

marshallka

tiggrae wrote: »

what a load of b%&£ocks

LOL - are they allowed to write that back in their letter then??

marshallka

tiggrae wrote: »

you sure can - see you don't need me !!!! :cool:

Oh we do!!!!!!!!!!!!!:D

tiggrae

marshallka wrote: »

This was Di's first eloan loan and she seemed to think that she was charged more than I worked out here but I have worked it out as the PPI element was 16.4% and the figures above but she is still unsure of these. I have done this 3 times now and still get the same amount. Can you check these too tiggrae.

how long was the loan term over ??
from what I remember it's 300 months - so 16.49% of £370.53 is £61.10

61.10 x 300 = 18330.12 and she received a rebate of just 7644.43 - means she could have paid £11185.69 for 9 months worth of PPI

I've put could have because I don't know how the overall settlement figure was calcuated - ie the amount of £18330.12 is the amount of the ppi plus interest you would have paid over the full 300 months, but I don't know how they calculated the interest element on settlement

I think you just missed out the total amount repayable from your calcuation

di3004

tiggrae wrote: »

how long was the loan term over ??

Hi Tiggrae and thanks also thanks to Marshallka too for adding this for me.;)

Loan was originally for 300 months,
Taken in Nov 2005 settled to consolidate to an advanced loan July 2006.;)

Loan £43K
PPI £8492.50

Total loan = £51,492.50

tiggrae

di3004 wrote: »

Hi Tiggrae and thanks also thanks to Marshallka too for adding this for me.;)

Loan was originally for 300 months,
Taken in Nov 2005 settled to consolidate to an advanced loan July 2006.;)

hi di - see the calculation above

Laini

Laini wrote: »

nothing yet cos the 2nd adjudicator has passed the file over on that date to the ombudsman so it might just be in his workload to do, not sure how long it will take for him to look at it.
fingers crossed -hopefully soon.
will update you when I hear anything.

thanks for the support.

ps I know this doesnt have anything to do with ppi but got charges back from Morgan Stanley approx 582.00- it will pay for christmas.

Plus
still waiting for Barclaycard to reply about charges and PPI they said they will reply by 6th Oct.

just rang Barclaycard getting 639.91 for charges- in my bank next week
they are dealing with PPI today so will hear something something next week.

di3004

tiggrae wrote: »

hi di - see the calculation above

Yep hun......;) Thanks.