Hi there, I am new to this site and I am looking for someone to help me or point me in the right direction. I cancelled the PPI on a loan I took out in January 2006 and was told I had to start a new loan in order for the PPI to be removed. The figures from the original loan agreement are as follows: Principal Loan Amount of loan - £20700 Period – 96 Months Interest rate – 6.9% Charge for credit - £6088.71 Amount payable - £26788.71 First payment - £278.96 95 further payments - £279.05 PPI Plan Loan (single premium repayment protection) Amount of loan - £6230 Period – 96 Months Interest rate – 6.9% Charge for credit - £1832.51 Amount payable - £8062.51 First payment - £84.41 95 further payments - £83.98 Total Loan Amount of loan - £26930 Period – 96 Months Interest rate – 6.9% Charge for credit - £7921.22 Amount payable - £34851.22 First payment - £363.37 95 further payments - £363.03 I cancelled the PPI in June 2008 after 29 payments had been made and the redemption breakdown, which at the time I didn’t even think to question, they gave me was as follows: Redemption figure details Balance- £24323.01 DR Interest refund to close - £3815.38 CR Amount to close loan today - £20507.63 DR Loan protection details Amount of premium refund - £2962.81 CR Amount to close loan after premium refund - £17544.82 DR New loan was taken out June 2008 at £17550. I have been onto Guardian.co.uk’s website and checked out their Loan Payment Calculator so I think I know where the original redemption figure £20507.63 comes from, I don’t agree with it but I understand how they got to that figure. The thing that is troubling me is how they got to the figure of £2962.81 as a refund for PPI. Any help that anybody can give me would me greatly appreciated. Kind regards, Simon