Moderators And All Who Can Help Urgently

**jg69** · 24th June 2008 01:26

Last week I went to court over a missold PPI icon

and the banks sent a heavy weight barrister to defend the bank. We have another date set for next month. However the issue comes to how I calculate the true cost of my ppi. I have 24 hours before I have to submit to court.

PPI 720.16
Charges 231
loan 11,200
APR 12.2

single premium policy - loan was made to 11,900

the bank has not given me the true Breakdown icon

. I was paying back 262 per month for 5 years.

Could anyone calculate the true costs.

The bank gave me Repayment for the PPI of 15.70 per month however this does not calculate the true cost and the payment of the loan 246.00.

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**Bog** · 24th June 2008 09:04

I will try to help, but can you clarify your figures...

PPI icon

720.16
Charges 231 What is this?
loan 11,200
APR 12.2 Do you know the monthly interest icon

rate~?

single premium policy - loan was made to £11,900 is this correct? The above add up to £12151.16 ????

What is your monthly payment £262 or £246?

**Bookworm** · 24th June 2008 09:41

I can't help with the calculations, maths not being my strong point, but if they're defending, surely it is up to them to show your calculations are incorrect and come up with the correct figures?

I mean, if they said you owed them £200 and you said "no, I don't, I only owe them £50", YOU would be expected to prove why you don't owe them the £200, so I am a bit confused how come you are being made to do the calculations when you obviously don't have access to their software and the formulaes used to make those calculations. :-?

**jg69** · 25th June 2008 22:16

Many thanks for getting back to me

Loan was 11200
PPI icon

720.00
Charge for credit 231
Apr 12.2 over 5 years
Payment was 262 per month
Total loan was 11920

Many thanks
I obviously have paid a single premium policy back loaded. I am not sure how much was PPI, in 2001 the bank of interest icon

rates were I believe 4%.?

**photoman** · 25th June 2008 22:35

Surely the PPI icon

was simply the £720 + interest icon

at 12.2% apr over 5 years?

.. or am I missing something ?

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