Ppi Interest Question

**TINK660** · 26th July 2009 16:12

Hi

Am I right in thinking that if you claim mis-sold PPI icon

on a credit card you can add interest icon

at their contractual rate and if your claim is accepted by the fos icon

do they then add on 8% on top of that or is it one or the other.

Thanks

Tink

**alanalana** · 26th July 2009 17:47

Originally Posted by TINK660

Hi

Am I right in thinking that if you claim mis-sold PPI icon

on a credit card you can add interest icon

at their contractual rate and if your claim is accepted by the fos icon

do they then add on 8% on top of that or is it one or the other.

Thanks

Tink

You got it in one tink but remember the credit card may have different levels of interest for purchases and cash withdrawals the cash bit normally attracts a higher level of interes see posts 10 to 38 on this thread.

alanalana v Capital One

aa

**TINK660** · 28th July 2009 06:28

Hi

I have done the figures and this is what I come up with - could you have a look because I cant believe they can be right - if they are I feel a nice well earned holiday icon

coming up!

date principle sum 17.9 compo s69 interest icon

of 8%
interest

22/8/99 30.96 154.54 147.51
22/9/99 34.35 167.90 159.37
22/10/99 35.61 171.47 161.90
22/11/99 30.00 141.81 133.16
22/12/99 30.00 139.28 130.08
22/01/00 30.00 136.71 126.97
22/02/00 30.00 134.18 123.93
22/03/00 30.00 131.85 121.14
23/04/00 35.18 151.64 138.52
22/05/00 34.78 147.29 137.34
22/06/00 35.76 148.60 134.27
22/07/00 35.00 142.79 128.32
22/08/00 30.93 123.80 110.63
22/09/00 33.38 131.07 116.46
22/10/00 35.85 138.17 122.09
22/11/00 36.22 136.92 120.30
22/12/00 36.26 134.53 117.54
22/01/01 36.96 134.49 116.83
22/02/01 36.89 131.63 113.69
22/03/01 36.06 126.41 108.69

I cant believe what a difference compounded interest makes!
I hope this is right - I know Pompeyfaith is a whizz at interest so if you are about please take a look and comment. After the last date the PPI icon

was cancelled at my request.

Look foward to any replies

Tink

**TINK660** · 28th July 2009 06:31

Sorry its pushed all the figures over but I hope you get my drift

22/9/99 princ fig 30.96 + Com int at 17.9% (their apr) = 154.54 + s69 int at 8% = 147.51 - total = £333.01

Thanks

**Camdenite** · 28th July 2009 07:21

Hi Tink,

I'm in a similar situation re> contractual interest icon

. I was stunned too!

Take a look at
http://www.consumeractiongroup.co.uk...a-abbey-3.html

post no' 53 onwards.

**alanalana** · 28th July 2009 20:26

Originally Posted by TINK660

Hi

I have done the figures and this is what I come up with - could you have a look because I cant believe they can be right - if they are I feel a nice well earned holiday icon

coming up!

date principle sum 17.9 compo s69 interest icon

of 8%
interest

22/8/99 30.96 154.54 147.51
22/9/99 34.35 167.90 159.37
22/10/99 35.61 171.47 161.90
22/11/99 30.00 141.81 133.16
22/12/99 30.00 139.28 130.08
22/01/00 30.00 136.71 126.97
22/02/00 30.00 134.18 123.93
22/03/00 30.00 131.85 121.14
23/04/00 35.18 151.64 138.52
22/05/00 34.78 147.29 137.34
22/06/00 35.76 148.60 134.27
22/07/00 35.00 142.79 128.32
22/08/00 30.93 123.80 110.63
22/09/00 33.38 131.07 116.46
22/10/00 35.85 138.17 122.09
22/11/00 36.22 136.92 120.30
22/12/00 36.26 134.53 117.54
22/01/01 36.96 134.49 116.83
22/02/01 36.89 131.63 113.69
22/03/01 36.06 126.41 108.69

I cant believe what a difference compounded interest makes!
I hope this is right - I know Pompeyfaith is a whizz at interest so if you are about please take a look and comment. After the last date the PPI icon

was cancelled at my request.

Look foward to any replies

Tink

Tink best to PM Pompeyfaith on this one IMO just to be sure.

aa

**pompeyfaith** · 28th July 2009 20:35

Im here Im here hehe

Now lets have a look although have a quick glance it looks fine to me.

And yes compound interest icon

does make a very big difference and a big dent in there profits lol

I will check those just to be certain.

Hold fire

PF

**pompeyfaith** · 28th July 2009 20:42

Tink,

What compound calculator are you using because my figures on the top one is coming out at more than you.

PF

**alanalana** · 28th July 2009 21:43

Originally Posted by pompeyfaith

Tink,

What compound calculator are you using because my figures on the top one is coming out at more than you.

PF

You should get this magic calculator of yours to the patent office

It is better than the lottery machine at producing winning sums.

aa

**TINK660** · 29th July 2009 06:37

Thanks Alanalana and Pompeyfaith

Pompeyfaith I am using the same calculators as you mentioned in Alanalanas Capital One icon

thread the Compound interest calculator and
Blake Lapthorn - simple interest calculator - is it all the figures that are not the same as yours or just the top one? Thanks for taking the time to do the calculations - it is rather time consuming isnt it, but enjoyably time consuming when you see it adding up. With a few others to do like this I have quite a big smile on my face at the moment!

A nice holiday icon

coming up soon I think - but actually getting them to pay is the hardest part I know.

Thanks again

Tink

**pompeyfaith** · 29th July 2009 15:50

hiya tink i have only done the first line so far but i will do the lot this evening and post the result here did u compound monthly or yearly ? PF

**pompeyfaith** · 29th July 2009 15:57

i have an ongoing claim with the co-op bank PPI icon

on 9 loans totaling jurt over £31,000 cant wait to get that sorted as it will clear all my debts get me a nearly new car and yes a good holiday icon

**mkb** · 29th July 2009 17:23

£31000!!!!!!! Wow - hope you get it soon!

**TINK660** · 29th July 2009 17:30

Wow £31,000 thats a nice amount

I compounded the interest icon

monthly and ticked the 360 days in a year box.

Was this right.

Thanks

Tink

**pompeyfaith** · 29th July 2009 18:41

compound monthly yes as 4 360 days between payments u will need to check the payment due dates on a few of your statements or your t&c will give this alro

**pompeyfaith** · 29th July 2009 18:49

hard slog my claim been a battle 4 a yr so far but i aint giving up i have a solicitor ready to take over if i do not get a result from the fos icon

**GARY68** · 29th July 2009 22:34

Originally Posted by alanalana

You should get this magic calculator of yours to the patent office

It is better than the lottery machine at producing winning sums.

aa

GOOD LUCK WITH THE COOP PF

**pompeyfaith** · 29th July 2009 23:53

Thank You Gary

**exoticplants** · 30th July 2009 22:01

Good evening. I have just received my original MBNA icon

business agreement. It states I wanted PPI on the credit agreement, though on my statements all it states is charges for interest icon

retail, interest cash and interest cheques. It clearly states that I agreed to ppi @ 72p per £100 balance spent. Doesn't MBNA business state insurance or ppi on their statements?
The credit agreement started from 19 June 2006. I noted from their default charges they stopped charging £20 per default up until May 2007, but then cut it down to £12. If I have just under four years of charges at £20 and £12 a month, am I still able to claim this back?

Thanks very much for your help in advanced.
Best wishes
David

**pompeyfaith** · 30th July 2009 23:04

Hiya Exoticplants,

Yes indeed get your claim in credit card charges are not subject to the OFT Court case like bank charges are.

And if they try to fob you off saying they are its a load of bull.

As you PPI icon

i would say yes it should be on your statements as its a charge to you so should be on there.

So challenge this too.

Regards

PF

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