help appreciated with claiming ppi-welcome finance

[jubaxt]

hi-i was mis-sold ppi when i took out a loan with welcome finance in sept 2004.ppi £950 + interest=£1295-i was a casual worker so it was invalid!!!!!!!

they paid back £560 off my loan when ppi was finally cancelled in october 2005-(after requesting it several times to be cancelled)..

do i enter it as a fee on a spreadsheet to calculate interest?

if i enter it as a charge on 7th sept 2004 and add cci @25.9%-(their rate), it comes to over £2000 with interest compounded!_oooh-please could anyone check this.

what do i do about the £560 they refunded?--deduct it off the final amount or do i need to somehow deduct interest etc which sounds more complex-please help-want to ger prelim ready for monday

[hellhasnofury]

Originally Posted by jubaxt

hi-i was mis-sold ppi when i took out a loan with welcome finance in sept 2004.ppi £950 + interest=£1295-i was a casual worker so it was invalid!!!!!!!

they paid back £560 off my loan when ppi was finally cancelled in october 2005-(after requesting it several times to be cancelled)..

do i enter it as a fee on a spreadsheet to calculate interest?

if i enter it as a charge on 7th sept 2004 and add cci @25.9%-(their rate), it comes to over £2000 with interest compounded!_oooh-please could anyone check this.

what do i do about the £560 they refunded?--deduct it off the final amount or do i need to somehow deduct interest etc which sounds more complex-please help-want to ger prelim ready for monday

Hello,

you can add your figures to the link below

England - Advanced - Excel

I have done a quick calculation and you are correct with your maths.

It is up to you about the £560.re the interest. On this spreadsheet you can mess about with the dates. Maybe do one till the 10/05 rebate, deduct that from your total and then do another one from the rebate till now. The only problem with the interest rate if you type in 25.9 it calculates it to the nearest % 26.

Anyway you may know more about spreadsheet than I do so good luck

[jubaxt]

bump

[jubaxt]

hi-can i only put cci on actual amounts i've paid or-because the loan is still running and the ppi is still included in the balance can i go for the full amount entered on my agreement-thanks

[jubaxt]

hi-sent pre-lim asking for cancellation of ppi with welcome-14 days up and no response-how should i word my lba or is there a template

[jubaxt]

just to check-when claiming cci for ppi which spreadsheet should i use?-bank charges or credit card charges-assumed it would be bank charges as it is a loan/hp