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mad_dr

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About mad_dr

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  1. Thanks guys! Ah yes - the phone numbers. They are: Claims Line: 0845 601 2683 option 3 I didn't use this number in the end - I did the claim itself via the post but someone might find it useful. Information Line: 0800 092 2290 Option 3 This is the one to use. As I mentioned before, they're a really helpful, friendly bunch of people. It's a freephone number and I only every spent around 3 minutes maximum on hold before getting through to a human. They were happy to answer all of my questions and to provide detailed breakdown of figures which were surprising in their co
  2. Well, 6 weeks after finishing my calculations and submitting my claim (covering letter with FOS questionnaires and PPI calculation spreadsheet) I received £8500 into my bank account followed the next day by a letter confirming that Lloyds has refunded me the original payments plus interest! I couldn't be more surprised or happier! During the groundwork I had several conversations with the Lloyds loan helpline. The folks there (freephone number to a UK call centre) couldn't have been more helpful. They provided verbal and written confirmation of my loans including the interest rates, settl
  3. Congratulations Paraman - great news! Would you mind sharing your covering letter (which I presume included your justification) and the section from the questionnaires that is titled "please indicate why you now consider the PPI to have been misssold"? It would be extremely useful to see examples of successful justifications - sometimes it's not obvious that PPI was actually missold so your experience may well help others with their claims.
  4. Hi! Thanks very much again for your help with these calculations yesterday - I really appreciate it and feel much more confident in the numbers! I made a decision to use the monthly PPI cost numbers that the bank provided as the basis for the rest of the calculations. After a bit of experimentation I can see that they all tally up in terms of the PPI amount and the Loan amount and the percentages, etc. So I'm pretty confident that the monthly DD (from my bank statements), the PPI-portion of the monthly DD (provided by the Lloyds helpline), the PPI-to-Loan percentage (both in terms of PPI
  5. Firstly: wow! This is absolutely fantastic and a very clearly laid out way of reaching the figures that have seemed completely locked away to me until now - thank you for taking the time to lay it all out so clearly. Fantastic stuff! I have read through your post a couple of times and will digest it for a few moments and then begin populating the second StatIntSheet that I've created (the first one, for the first loan is now complete and squared away). A couple of quick clarification questions that I would be grateful for your thoughts on are: 1. For all 4 loans, the bank has pro
  6. Fabulous, thank you! You've already spotted a mistake I'd made in that I was using the "including interest" figures for calculating the PPI-to-Loan percentages. I have added the 26 payments of £42.02 plus the final PPI payment of £404.43 to the StatIntSheet Excel file. I notice that, (presumably as a result of there being no rebate on the first loan) we didn't use the 11.76% figure to calculate how much of the final settlement (£3372.35) was PPI, because we used the LoanAnalysis sheet to show us that it was £404.43. Thanks again for this - I really appreciate you using your time to h
  7. Aghhhh - my poor brain... Thanks again for all your help so far - I really appreciate it and hope that I won't have to ask for too much more of your time. Because Loan 1 was a standalone loan, rather than one that was later refinanced, I think I've got that one covered now (thanks to your help). I've just had a go at working out how much PPI from loan 2 got rolled over into loan 3 and from loan 3 into loan 4... Loan 2 borrow: £7500.00 (£8238.24 with interest) Loan 2 PPI: £668.62 (£744.48 with interest) Combined borrow: £8168.62 (£8982.72 with interest) Percentage of PPI-to
  8. Thanks for the fast response again! If PPI+interest = 1512.72 If Loan+ interest = 11397.60 Then percentage is (1512.72 / 11397.60 X 100) = 13.27 Final settlement was 3372.35. So (3372.35 / 100) X 13.27 = £447.59 But £447.59 plus the total PPI I paid over the 26 months of the loan (£1092.52) = £1540.11 which is more than the original quoted cost of the PPI. I assume this might just be Lloyds ripping me off even further (or my duff maths!)
  9. Hi again - sorry for the delay in replying and thanks for posting again. As you say, I did get rebates on each of the three loans (loan 2, 3 and 4) that were refinanced into one another. I'm not exactly sure how the rebate is calculated or whether it represents pure PPI money back or whether it's also a representation of some of the loan-interest being returned, etc.. . (I assumed it was a pro-rated deduction based on the proportion of the loan term that hasn't been used when the loan is cancelled. Like when you cancel your car insurance early if you pay in a yearly lump sum
  10. Wow. There are some EXTREMELY helpful and clever folks on here. I hope Paraman has success in his claim and have a feeling that the maths provided by ims21 will come in very handy for my claim (3 loans which were refinanced with PPI on top of PPI on top of PPI, etc.) All the best.
  11. By the way, the Lloyds helpline has provided me with confirmation of all of the following values for all 4 of my loans. I wonder if having this information from them negates the need for any of the calculations that the spreadsheets cover, or - possibly - that I can use the bank's numbers to populate some of the fields (the spreadsheets seem very helpful if you don't have any of these numbers already) 1. Loan size (how much I wanted to put in my pocket to spend) before interest 2. PPI. Amount before interest 3. Loan term in months 4. APR (same for loan as for PPI 5.
  12. This is definitely front-loaded single premium PPI, yes. As for whether by itself it was missold, I am not sure. I'm preparing my own claim at the moment for the same type of policy from Lloyds and am trying to ascertain the same thing. Given that there are many people on this forum and others who have been rejected by Lloyds and given that - as far as I know - Lloyds' PPI on their loans was usually of this type, I can only assume that either: 1. These people worded their complaint wrongly and didn't put enough emphasis on the single premium aspect or 2. Lloyds doesn't consider sin
  13. Excellent - thank you so much for the great information and for replying so quickly too. I'll have a good look at the spreadsheets and fill in as much as possible. Can you clarify whether I should use the "before interest" or "including interest" figures for these calculations? I presume it won't affect the percentage of the settlement that was PPI but I guess it WOULD affect the amount of money that I'd expect back from the bank if my claim was successful? Many thanks again!
  14. Hello! After several weeks of reading threads and really useful posts on here and other forums I am almost ready to submit a claim to Lloyds for the PPI I paid on several loans from them. Before I do this, I would like to be able to calculate how much I ought to be expecting them to offer me as a refund and have tied my brain in knots trying to do the sums. I wonder if someone on here might be able to assist me please? There are 4 loans in total which all had single premium PPI on them. One was a standalone loan which I took out, paid back at the set rate and then pa
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