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Thanks again guys...the pennys dropped now. I'll get onto the spreadsheet tonight and see what figure I come up with. Cheers Jim

I think its me that should saying Doh !! Sorry again guys , I'm still struggling.... I don't understand how the total of my monthly payments for PPI (60 x £74.38 =£4462) would be less than the £6122 that they charged me, or even more puzzling why they would pay me £5927 back. Sorry if I'm givin you guys a headache !! I'll sleep on it and see if I can get the penny to drop...back tomorrow. Cheers Jim

Just edited my original response...it made sense to me until I thought about it. If my monthly payment for PPI is approx 74.38, then would it make sense to assume that the total paid to them would be 60 x 74.38 ? If thats the case then it doesn't add up to the 6122 that they charged, nor to the 5927 that they refunded. I'm now confused again...sorry guys

Thanks ims...i found that spreadsheet earlier, the one you helped "Eggie" with. For my case, on my loan agreement I do not have a breakdown of how much of my monthly payment was for repayment to the loan and how much was for payment protection. Do you know how I can work this out ? The only figures quoted are, Amount of Advance £25000 Optional PP premium £6122.50 Total Loan £31122.50 Monthly Interest rate 1.019% Estimated Number of monthly payments 180 Monthly payment £378.10 looking back at it now it doesn't even have the APR on it, they used the monthly rate to make it look a lot smaller interest rate than it actually was !! I am still currently paying back the loan, so what I put on the spreadsheet is ? : Monthly payment for PPI once I find this out, up untill the 5 years had passed when they rebated the £5927 It would then be the statutory interest that I claim back ? As the interest rate was increased by them over the course of the five years and since, I take it I can't just simply take the £6122 and divide it by 60 to get the monthly payment for PPI. Also, at this stage do I ask for the £6122 to be taken off the loan amount and the loan re-calculated ? Sorry for the many questions, but it seems the more I look into it and the more I read the forums it just throws up more questions... Thanks

Thanks dx...I've just read the link you gave me....certainly seems its worth a shot. Looking at it, I don't really fall into any of the specific categories quoted but the closest would be under "what’s the position on the refund of premiums, where the loan is paid off early (or re-arranged)?" I've no problem with searching the forums to find the answers, but if you can, or anyone else let me know the steps I should now follow it made make it a bit easier to start off. Do I first write to First plus or the FOS ? I think it should be Firstplus from what I've read, and give them eight weeks to respond. Is that correct ? Either way, should I send a detailed breakdown of what the amount is I am claiming back. If that's the case, maths not being my strong point a help with that would be massively appreciated. I'm off to search the forum now and see if I can find the info. Thanks again..

FirstPlus PPI and Interest Help....please.... Hi guys..looking for a wee bit of advice. In June of 2002 myself and my wife took out a First Plus loan to consolidate our debt. The loan value was £25,000 and £6122.50 was added for PPI giving a total loan of £31122.50. We, in common with many others on the forum feel we were mis-sold this PPI as we had no idea at the time of the implications and obviously subsequent hardship that this has caused us. Now 9 years in,based on current monthly payments we still have approx £30,000 to pay until the loan reaches its 15 year term....Similar to others we were in a pretty desperate place at the time and this was probably the only option that was available to us. I cannot remember being told of any of the potential downsides to this loan agreement, as far as I can re-call it was all positive ( maybe thats what I wanted to hear as we were desperate), but I do remember the PPI being very positively pushed, with the reimbursement of our fees paid being a big selling point. That said, we did get a cheque for £5927.88 back in 2007 (strange figure now I look at it when we were charged £6122.50) which was all good at the time, but it still never dawned on us that we would still be paying interest on this initial charge, or even in fact that we would be paying interest on the £6122 from the beginning. My question is, can I claim for anything regards this ? It was certainly never pointed out to us that this would be the case, all through the loan arrangement it was £25000 was the figure that kept being talked about, and in our own heads it was £25,000 that we were borrowing. Can I do anything to claim back the interest paid on this to date and/or have the loan figure adjusted to remove this £6122 from the calculations in the future ? If I can, it would be much appreciated if someone can point me in the right direction.... many thanks

I haven't checked back on the site for a while............... I sent two DPA requests to the Abbey on the 28/2/06, both by recorded delivery. According to the Royal Mail site, one was received and the other wasn't ( I've taken that up with them). When I sent these off, there was no real mention on the site of requiring the £10 charge for releasing this information. Should I re-submit both requests along with a cheque for £10 and basically start the process again, or can I just send the cheques with a covering letter and still expect an answer 40 days from the 28/02/06.

Thanks........... Special Delivery it is then.

I am in the process of sending the PDA letter to the Abbey asking for the total amount of charges that I have incurred in the last six years. I have searched the forum and found a few references to the difference of law in England / Wales to that of Scotland, but nothing really firm. I have also searched for any successes posted by Scottish Claimants and could fine none. Legally I believe, I am still right to claim back what is rightly mine, but would I be correct in saying that my chances of success are somewhat less as I am pursuing this within a completely different legal system to that of the majority of your users. Does anyone have any advice on what I would need to do differently within the scottish system to allow my claim to progress, hopefully to a succesful conclusion.

Can I send recorded delivery to a PO BOX address.. ... I know it sounds silly but surely with a large organisation there will be a facility to get these received. If not, will I have to find another address to send to. I am sending my request for bank charge details to the only address that is stated on my Bank Statements.