Thread: please can some one explain how to reclaim ppi

hi all have a question i am strugling to calculate PPI reclaim it was on A/L loan i have used compound intrest calculator and i get a completely different figure to what A/L have on personal loan statment i will break down thier figures first

Loan Principal £9400

interest on Insurance £461.35

Interest on Principal £2575.40

Insurance Principal £1684.85

it also states intrest is at 10.44%

this gives grand total of £14121.60

now i have used compound calculator mention earlier this shows a diffrent amount in intrest to what they state total of £2745.67 and intrest of £1060.82


so figure was calculate at A/L 10.44% rate between feb 01 and jan 06 when the loan should of ended i then put this amount into a simple intrest calculator and added 8% from feb 01 to aug 2009 (today) this show a total claim of £4622.05 would this be the correct way to do it because if this is right it will clear all i owe and give me a difference of approx £600 any help greatly recived thanks:-|

Hiya Gaz,

Would you like me to work my magic with the Excel PPI Spreadsheet and see what comes of it ?

Regards

PF

Gaz,

Right working on this now for you, can you give me the date loan signed date of first payment and date of last.

Oh and number of monthly payments and the total monthly payment

Also can you send me an email address i can use to forward this spreadsheet too use the PM facility on here like you did before.

Thanks.

Regards

PF