Good afternoon .... Ims or dx100uk...I have completed the 2nd loan and the incorporation of the proportion of loan 1 ppi into Loan 2...BUT HOW do I actually calculate the settlement figure (rollover).. into a proportion of ppi repayment to be paid alongside the Loan 3 ppi repayments ...I have calcualted the Loan 3 repayments that's no problem... Loan 2 settlement figure is £8083.38 Loan 3 repayments are 366.34/mthly Ins loan=3149.63 Tot Loan=18149.63 3149.63/18149.63x100=17.35%=£63.56 is proportion of ppi payment IN 366.34... BUT how is £8083.38 expressed/calculated as rollover paymen to be paid alongside £63.56 Thanks greatly

Just one piece of advice if you can ....what is the correct address for Debenhams store cards...Ge CapitaL OWNERS AT TIME...CARD GOING BACK TO 2004....hAVE NOT HEARD anything FROM THEM EVEN SENDING OFF/SAR REQUEST AND £10.00

Well done meandbex...I hope I have some good news soon on another thread...hbos ppi claim

'Capacity to Contract'..is a technical term used in law...but basicallly as a minor...you were not competent to sign contracts as the law protects minors from abuses of knowledge and bargaining stregnth imposed by the party 'that should know better'...in effect your contract was illegal/unlawful ..... Another interesting point is that the OFT have referred the private insurance market to the Competition Commission and specifically BTE/ATE Legal Protection Policies as they are not happy with the way they have been sold.... You are claiming back while it is a 'hot potato'...go get 'em

thats great of you ims...thanks...back to the drawing board...but i have it now as i went away and thought about it...i was thinking whther to also include the loan 2 ppi repayments but you have explained that ... THANKS

end of thread :smash:

The spreadsheet and the whole trhing is falling apart...listen..I giving up...moving on...

I have got this mental block for some reason...I cannot make further progress

Rgiht so I will add the4.8% expressed as a sum to the figure for ppi loan 2 and enter THAT SUM in EVERY line? and repeat the process above for settlement 2 and loan 3...?

thanks back to the drawing board:madgrin:

Sorry...I've given up...its too much and too confusing:ohwell: I think i'll move on to other things..

to find percentage of 570.37 of loan 2 is it of total amount to pay...£14652.60 or just the plain cash loan of £10000 and is the formala 570.37/10000x100 or 570.37/14652.60x100

Is this IN ADDITION to PPI being paid on loan 2 AS WELL I am getting confused as to WHICH formulas to use and WHEN and to correctly apply on WHAT .

Good morning ims....this is the point where I am getting confused...I have done the first loan ppi...the critical point is the 'rollover' of ppi from loan 1 to loan 2... Loan 2 is £10000 total charge for credit for cash loan £2336.60 insurance loan is £1877.56 total charges for credit for insurance loan is £438.44 total amount you pay for insurance loan is £2316 60 monthly repayments of £244.21 but settled early on 13.02.2004 BUT...how is the ppi rolled over from Loan 1 The total settlement figure on 05.03.2002 was £570.37...THIS IS MY MIND BLANK at this point...pls see spreadsheet if I so far correct What is the formula for working out £570.37 as % of loan 2 I'm no good at this..sorry!!! StatIntSheet v101-Halifax-PPI-Loan.xls

Yes,....BUT please please please:pray2: DO NOT LET the OFT ANYWHERE near it...

Under plain old common law rules.... You may not have had the capacity to contract and therefore the agreement was void from the beginning...as it was void...you must be put back into the position you were immediate to your signing....that is if being a minor is under 18 yrs old according to law at that time.

Great...sorry I should have asked 'claim to date question at same time...sorry!!! Well thats it...

Also what should I put in the' Claim to Date'

THIS IS THE WRAP UP!!! by Courtesy of ims21 My loan did have a Single Premium PPI included so what do I claim? Basically you claim back what you have actually paid out for the PPI, including the interest the bank charged on the PPI part of the loan plus further interest as compensation. In respect of your interest claim, what interest level you claim will depend on which route you intend to follow to get your money back. The initial approach is always to the lender but if they fail to uphold your claim there are two routes open to you. You can pass the case over to fos or you can sue in court. Fos would award a refund of all PPI payments paid, the interest charged on those payments by the bank plus 8% statutory interest on each of the payments. With the court route you open the door to being able to claim higher rates of interest in restitution which again is beyond the scope of this article. Claimants would do well to read the CAG Interest Tutorial for more detailed information on interest. My loan was for £8,000 and the bank added PPI of £626 so my total loan was £8,626. My repayments were £363 per month. How do I know what the payment relating to PPI was? You simply use percentages to work out what the amount of PPI repayment was. In this case the formula is £626 divided by £8,626 and the result multiplied by 100. (626/8,626 x 100) = 7.26%. So we now know that your PPI was 7.26% of the total loan. Accordingly 7.26% of each of the monthly repayments was for the PPI part of the loan and 7.26% of £363 is £26.35. So each month you were paying £26.35 towards the PPI loan. You then use the spreadsheet to calculate your claim. See later for details on the spreadsheet My loan included Single Premium PPI and I paid the loan off early with a lump sum payment. I didn’t get any rebate on the PPI. In this case you would still have paid the total PPI premium which was put on your loan to start with. For the monthly payment up to the date of settlement you work out the percentage of PPI on a monthly basis as described above. When you settled the loan with a lump sum, the same percentage is used to find out how much of that settlement figure was for the PPI part of the loan. You enter this final amount of PPI payment as the final item in your spreadsheet list. See later for details on the spreadsheet. Hi ims...in relation to the highlighted words ONLY... for example in the above illustration in post 122 the ACTUAL settlement figure was £3,844.15 and £343.59 BOTH on 05.03.02... so would I need to total those 2 figures and treat as one settlement figure...then multiply by 13.62% and ADD that figure to the next Loan2 on the SAME spreadsheet and the same PROCESS for Loan3...

That will WRAP things up ... Thank you very much indeed for clarification to the finest detail...I shall get on with the calculations tomorrow, Rgds:peace:

TOTAL LOAN-£5,788.62 Total Charge for credit for TOTAL LOAN(total charge for credit)-£1,422.90 TOTAL AMOUNT YOU PAY-£7,211.52..... Understood thanks

£7211.52...where how did you arrive at this figure?

That is great...so in fact then for the factual eaxmple above the proprtion of ppi to loan would be(using the above figgures £982.44/£5982.44x100

so is...Total charge for credit for insurance loan-£193.82....the interest in ...ppi loan + interest

So you are saying that ONLY GLC have the specific knowledge on how to approach this.....i.e per confidentiality agreement.(well probably his clients as well to an extent i s'pose) If that is the case he'll be a millionaire...GOOD LUCK to you MIKE DAILLY and God Bless you:lol: This gentleman appears to be a genuine modern day 'Robin Hood'....LEGEND!!!...but he's not robinn only taking back what is rightfully ours in the first place....