PPI Reclaiming successes and failures

sheenaneenah wrote: »

Hi this is my first time posting and wondered if anyone could help? i got stung with a ppi reclaiming company and really dont want to go through one again!

Here goes...
Loan 1-started 31/01/2003
amount of loan £12000.00
interest charged £3948.00
PPI £2642.21
interest on ppi £3511.50
total payable £19459.50
APR 8.8%
loan duration 84 months

This loan was then consolidated with the following-
Loan 2-started 09/09/2004
amount of loan £14797.98
interest charged £4616.97
PPI £3734.78
interest on ppi £1165.25
total payable £24314.98
APR 9.9%
loan duration 72 months

this loan was then paid off on 23/04/2007.
I dont have any rebate figures exactly but i do have a percentage breakdown as following:
Early settlement tables rebate calculated to the nearest one percent and it looks to be around 57% on loan 1, and loan 2 around 30% if this makes any sense? I am totally confused by it all!!

Loan 3 may be a little more straight forward and is a totally seperate loan to the other 2

Loan 3- started 03/03/2009 and is still running
amount of loan £6500.00
interest £2795.44
PPI inclusive of 5%insurance premium tax where applicable £1670.37
interest on PPI £718.37
total payable £11684.18
APR 15.9%
loan duration 60 months

thankyou to anyone that may be able to help!

Loan 1

31/01/03 to 31/08/04
Number of payments assumed 20
PPI is 2642.21/14642.21 x 100 is 18% of loan payments
Loan payments are 19459.50/84 = £231.66
PPI is £231.66 x 18% = £41.70

So £41.70 x 20 = £834
8% simple interest £519.86 (1st payment 104 months ago last payment 84 months ago)
PPI refund is £1135.61
(Rebate is 57% so £2642.21 x 57% =£1506.06 rebated leaving £1135.61 carry fwd to loan 2)
8% interest simple is £643.52
(1135.61 x 8/12 x 85 months(31/08/04 to 31/08/11)

Total of overpaid premiums and interest is £1353.86
Consolidated interest and rebate on PPI carried to loan 2 if they pay £1779.13

Total refund is £3132.99

Loan 2

09/09/04 to 23/04/07
Number of payments 32
PPI is 3734.78 +interest £1165.25 = £4900.03/72 =£68.06

So £68.06 x 32 =£2177.92
8% simple interest £988.23 (1st payment 84 months ago last payment 52 months ago)
PPI Refund is £2614.35
(3734.78 x 30% = £1120.43 rebated leaving £2614.35 paid on early settlement 23/04/07
8% interest simple is £906.31 (£2614.35 x 8/12 x 52 months)(23/04/07 to 23/08/11)

Total of overpaid premiums and interest is £3166.15
Consolidated interest and rebate on PPI carried to loan 2 if they pay £3520.66

Total refund is £6686.81

03/03/2009 to 03/08/11 (assumed)
Number of payments is 30
PPI is £39.81 x 30 = £1194.30
8% interest £123.41
Then 1670.37 plus interest taken off the loan
Future payments reduce from £194.74 - £39.81 = £154.93

Total of overpaid premiums and interest is £ 1317.71

Total refund is £1317.71

Loan 1 £3132.99
Loan 2 £6686.81

Loan 3 £1317.71

Total £11137.51

saverjules wrote: »

Hi, after accepting an offer from Northern Rock on 18th June, we finally received the money in the bank today.

It was due 18th July and I have had to call every week since to chase it.

Bizarrely - it is £500 more than in the settlement offer - just another example of their ineptitude. I presume they might ask for it back, or maybe they got the calculations wrong.

Still - got £5200 back so my OH is over the moon.

The remaining part of the loan is now £860 over 10 months - they have had to set up and cancel no less than 3 new loans to get the amount right - however they have not written to us with the latest account number or when its due.

PPI claims in with RBS, Lombard, and Natwest - so will have to wait and see what happens with those.

Thanks again for all the support on MSE - a great day indeed!:j

Well done that is fab :T Congratulations!:beer:

weewen wrote: »

Hi everyone, pleased to say there was an email this morning from lloys TSB to say they are upholding credit card ppi complaint! No idea what i will get back but it's been on the go since 1985.
total claimed so far:
Egg 5,330
MBNA 5,754.

good luck, hope there are many more successes.

Excellent :T:j Well done and Congratulations!:beer:

Got my letter from MBNA this morning:

PPI £1,645.50
Interest £1,515.08
8% £240.84

Grand total of £3,401.41

All I had to do was fill out the simple form on here and post it off. :money:

moomoo4444 wrote: »

So i have e mailed LLoyds asking to reconsider and given them all the information why......lets see where i get with this then :mad:


but thank you all once again for your help ,you beautiful people

Thats it dont give in! and i wish you all the luck!!