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Found 22 results

  1. I received a letter dated 5/12/17 from MBNA offering £924.03 minus £184.81 UK Withholding Tax. This was for a PPI undisclosed high commission complaint (PLEVIN) on a very old credit card on which they had refused a PPI repayment as they claimed it was not mid-sold. I am a 70-year old female Pensioner who had a mild stroke last week and do not understand these things, but also do not trust Banks. Is the UK Withholding Tax being paid directly by them to my HMRC 'account' ? Can they be trusted to do this. How can I check that the calculations given are correct? They are: £816.89 Amount of applicable commission and profit share £ 0.00 Total amount of fees refunded £137.20 Amount of historic interest £924.03 Applicable 8% gross interest* -£184.81 Less UK withholding tax* The payment is being paid directly into my Bank Account within 28 days. Any advice will be most helpful.
  2. Hi all. I had an accident at work and was off for four weeks. My employers usually pay SSP for the first week of absence and then the 90% sick pay scheme kicks in. Because my accident was effectively their fault, they agreed to pay me full pay for the first week. However, I received my payslip, which included a lot of overtime, and I really think that I should have received more than I did. Before I post it (with my private details deleted), please can I ask if there is someone who works in Payroll who can help with the calculations?
  3. I am seeking help on a few points following a calculated PPI award from MBNA. Essentially, I think they are using their own interpretation of “returning to position” in order to be seen to be conforming to FOS guidelines: while not actually really doing so. I am wondering if anyone agrees, or if I am barking up the wrong tree. If anyone is interested in taking a look I will post up a PDF of their “full breakdown” – calculations that seem far removed, I think, from what it should be by using conventional and more widely accepted methods - such as would be the case with other banks and our CAG spreadsheets. I have heard it said, in other posts, that MBNA claim recently that PPI payments were paid each month by being the first item withdrawn from monthly payments so don’t accumulate interest (and apparently even convinced an adjudicator at the FOS of the validity of this argument on at least one occasion). This could perhaps explain the calculative difference, but I would welcome thoughts on this from anyone. Common sense tells me that if PPI premiums did not count towards being cumulative because of this, then an exact equal sum was instead carried forward cumulatively... For background: general situation was I paid PPI of c.£4000 between March 1998 and Jul 2009 on an MBNA credit card, for which they have offered a return of premiums and a value of c.£570 “associated”with c. £2400 “applicable 8% interest”. This was “full and final” apparently. I complained, raised a few points, and accepted as partial without prejudice. They just sent me the full breakdown in response to that. When checking this award, I am getting a calculation cell error in FOSRunningPPIv102 which may be an unintended effect of a change made between v101 and v102, which I can detail highlighted if anyone would like to take a look at that too. It looks like a between-version error-handling change aimed at card accounts being zero balanced sometimes, which may have then had unintended error effects. I can do a temporary “fudge-fix” to accommodate for what I think may be inadvertent errors shown up by my own account peculiarities, but this does mean the cardinal sin of altering columns that should not really be amended. These spreadsheets are massively appreciated – if there is a change warranted for next version, I hope that is OK, if I am merely wrong…then please forgive me. Finally I have a couple of questions: I stopped the PPI a few months before moving to a stopped-interest DAS plan, in Autumn 2009, which I have been every month paying since. I am unsure which date to use as “last row” to put intoFOSRunningPPIv102. Interest rates also varied between 17.9% and 24.9% (although purchases would have been higher still on occasions) - fair to use 22.9%, which it was for a time, as an average? My goal really is to check that I am doing my calculations correctly and send MBNA my own version of what they owe, with a firm rebuke of their methodology being against FSA example 6 – and let them my intentions if they do not pay up. I am though not convinced if I go the FOS route that FOS really “get” what MBNA seems to be doing when MBNA glibly report to their claimants, and perhaps the FOS, that “yes, guidelines were used here”. Anybody care to take a look at award breakdown and/or spreadsheet? If so, much appreciated...give me the nod and I will (try to anyway) post up.
  4. as above, CCA'd egg on 16/07/08. They responded with an unsigned agreement and nothing else, no terms, no other info. Wrote back to them to tell them account in dispute as they have failed to provide etc. put in the dispute letter the usual about "you may not pass this account on" etc but they've completely ignored it and sent a letter back saying the account is now closed and will be passed to a DCA for collection what do I do now?
  5. I've been filing self assessments for several years now due to renting a house out and would like to view my previous submissions, the gov.uk site only seems to allow me to view the last two and in different formats, one being every field available regardless of whether I entered anything. is there a way to view more & in a consistent format? Thanks
  6. Hi All, I currently have arrears with my NRAM mortgage, of about £4500, of that £550 + interest + 8% is arrears and " payment option fees" and a solicitors instruction fee. I usually refuse to talk to them on the phone, but recently did, and let slip that I wanted all fees back, I received a letter in return ( 8 weeks later! ), simply stating that because I had gone into arrears, they "would not remove the fees or interest or charges." So, do I now send them a formal Request for 'repayment of charges', Also because I am in Scotland, do I need to change the wording in the template letter from, 'sue you in the county court' to 'Scottish small claims court' or sheriff court? I would appreciate help with this, Should I be asking in the Scotland forum, or in the Mortgages and secured loan forum? There is a second strand to this, I found out that NRAM had something called " Loan Modification", they did not ever advise me that it was available? even though they were allowing me to make agreed reduced payments ( thus increasing my arrears ), and had been told that I was in financial hardship. But when I phoned them about it, from them receiving all requested paperwork, they took at least 5 months to sort out, each time I phoned, they said " it will have to go to a manager" so through either gross incompetance, or more likely a deliberate policy to raise my arrears! What I mean to ask, is can I claim any of that back? some £1500 extra on arrears + interest! really would appreciate any help/advise many thanks, highlandertom
  7. Hello - can I ask for some advice please? I have found an almost complete set of statements from Sep 1998 to May 2002. It covers an Alliance & Leicester credit card now taken over by Santander. I have to say that Santander have previously been good within limits - paid out when statements missing and very quickly. Of course, we should never have been in this position to start with but they do seem keen to be seen to be doing the right thing, unlike many others. My questions are these: 1. Given that the start date is so long ago, if I went legal, the compound interest is likely to make the award much larger than using the simple interest method. Can you please point me towards the spreadsheet that would enable me to work out the likely award please? 2. Also, how long does court action take, typically? What I might do (as they are likely to make me an offer within the next 2 weeks) is to suggest a compromise settlement to avoid court action but need to know what the likely sum is to start that discussion I think. Thanks very much for your help
  8. I recently received a PBP pay out of £2439.55 although this was used to offset a different account I have with Barclaycard collections despite having a repayment plan in place I'm happy with. The breakdown for the amount is. PBP cover £825.95 Fees £36 Interest on premium and fees £1322.53 Income tax deduction £63.76 8% interest compensation £318.83 The problem is I was given no information as to how these calculations were made and what they were based on. The time period was 75 months and my APR was 29.9%. What also confused me was when I rang Barclaycard the operator initially quoted a figure of £4310 and quickly backtracked when I questioned that figure. How do I know these figures are accurate? And could I get the money paid to me rather than it offsetting a debt I was repaying? Thanks for reading.
  9. Hi everyone. I have been told theres several people on the site who are very helpful with ppi refund calculations and so I am wondering if I could ask for some help. I have a loan with GE money and they have agreed that my ppi was mis-sold. As it was a single ppi policy - as in the amount of the ppi was just added to my loan as 1 amount the letter from GE states that my refund will be equal to the price of the original ppi + associated interest + stat interest at 8%. Is anyone willing to have a go at the sums for me lol. Loan taken out Dec 2006 Loan amount £10,000 ppi amount £2,740 FOR 5 YRS OF PPI COVER APR 9.3 loan length 12 years payments made 99 - ( 8yrs 3 months) payments remaining 45 (3 yrs 9 months) Month repayments were £150 per month but have now risen to £167. The loan CANNOT be restructured according to the letter I received from GE so the entire refund due is being sent out to me as a cheque
  10. Hi there could any1 help me out with whether the ppi offer looks about right? Here goes loan taken out in dec 2006 over 5 years finished paying it off 5 months early* premium £3240.70 Contactual interest £1628.46 Total amount pyable £4868.16 Rebate £50.66 Basic compensation £4818.50 Interest £486.75 Total refund £5305.25 The fos states that that i should get 8% simple on each monthly amount a year from the date each payment was made to the date of redress. Also calculating the amount I would of paid to settle the loan without ppi ans subtracting that from the amount from what was actually needed to settle the loan and paying the difference and adding interest on the difference at 8% a year from when the loan was settled to the date of redress. I just dont want to be fobbed off by carcraft thats all. thanks in advance
  11. Hi, After over a year of trying I have finally received a calculation from Barclays for my Mastercard which I took out in 1996. After the involvement of the Ombudsman they offered to settle out of good will with no admission. The offer letter I received stated that they are admitting that I was missold. The letter is a little cryptic in that it states that they are "not required to retain statement information for more than 6 years" and that the value of payments prior to 2005 would be calculated assuming that the payments reduced at a steady rate to 0 going back to 1996. They say that they are happy to recalculate should additional information be provided. Who in their right mind keeps statements going back to 1996 ???? Well, my wife has been going on at me for years to clear out my paperwork. I am so glad I did not listen. I have found statements going back to 1996. Putting these into the calculator makes quite a different picture. I do have a couple of questions though. What interest rate should I use when calculating compound interest. Do you think Barclays really do dispose of records from before 2005. Many thanks for all the great advice that I have received and I cannot thank the Ombudsman enough for their professional and considerate service.
  12. Have a look and let me know what you think. Any help will be appreciated. http://s911.photobucket.com/albums/ac318/zentrix9/MR%20VIRGIN%20MNBA/ I will be sending a SAR request tomorrow to see what I get back
  13. This forum has been amazingly useful to me in my claim for PPI mis-selling vs MBNA. To cut a long story short; I attempted to claim mis-sold ppi directly with MBNA who rejected the case. I then approached the FOS who (some 12 months later) have upheld my complaint and have informed me that MBNA will be making an offer of compensation. In order to calculate what I may be offered I have used the FosCISheet v101.xls. My concern is that this spreadsheet has calculated a SUBSTANTIAL amount of compound interest based on 2.5292% per month 30.39% APR. The credit card dates back to 1995 and I have (foolishly) always had an outstanding balance. The compound interest calculation is well into six figures! Can this be correct? Help and advice most welcome. Paul
  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 paid off early. The other three ran consecutively and were refinanced. All loans were through Lloyds and each loan was paid off automatically as I refinanced them. 1. LOAN 1: Loan was £10,000.00 (£11,397.60 after interest) PPI was £1,332.72 (£1,518.84 after interest) 36 month term. Settled after 26 months. 8.7% APR The loan was paid off early and for which I received NO rebate for the PPI. Therefore I would imagine that I paid the full PPI amount plus interest when I settled the loan and therefore should expect to receive the total cost of the PPI plus the interest that was added onto it (£1,518.84 + 8%)? 2. The other three loans were consecutive loans that were refinanced to put a little more cash in my pocket each time. This is where I get confused about exactly how much PPI I paid. Below are the loan amounts followed in brackets by the "after interest" figure. Underneath each loan is the PPI amount that would have been charged if I kept the loan for the full term. LOAN 2: Loan was £7,500 (£8,238.24 after interest) PPI was £668.62 (£734.40 after interest) 36 month term. Settled after 10 months. 6.2% APR PPI Rebate: £321.58 Settlement figure at close: £5,867.62 LOAN 3: Loan was £12,261.24 (£14,065.92 after interest) £5,867.62 paid off old loan. £6,393.62 in my pocket PPI was £2,193.67 (£2,516.64 after interest) 48 month term. Settled after 15 months. 6.9% APR PPI Rebate: £912.31 Settlement figure at close: £9,555.86 LOAN 4: Loan was £13,612.56 (£17,233.20 after interest) £9,555.86 paid off old loan. £4,056.70 in my pocket PPI was £3,625.39 (£4,551.00 after interest) 60 month term. Settled after 13 months. 9.7% APR PPI Rebate: £2,227.04 Settlement figure at close: £12,085.41 I would also be grateful for any pointers regarding the letter I should send to the bank. Specifically in terms of how I should word my grounds for complaining. After all, I signed up to the PPI loans and cannot recall what (if anything) was discussed but would presume I signed the paperwork. I know that hearsay complaints are being rejected so I would be keen to hear suggestions about how to best word the letter. Do I only need to mention the magic words "single premium policy" to get a refund or will I need to argue my case in more detail as to WHY the single premium is unacceptable to me? Many thanks to all who read this and for any assistance you can give!
  15. Hopefully I've managed to attach the document ok. Both myself and my wife were lucky enough to receive a cheque straight off from MBNA without any fighting. I didn't know at that stage that MBNA workers didn't do maths at school, so pocketed the money , no questions asked (6 months ago). Following advice on here, I wrote to MBNA asking for their calculations, which they've sent straight away (I was expecting them to tell me to clear off as I got the cheque so long ago!!). I've included their calculations as a document. I've put the figures into one of the spread sheets and it comes out fairly close to the cheque I received. Can someone run their experienced eye over their calculations and see do they see anything amiss? Many thanks in advance. I intend to pursue the charges end separately, but AS PART OF THIS CLAIM what could/should I realistically be pushing for by way of return of late payment charges. I know the account SHOULD be left as if I had never paid PPI in the first place, which would mean the return of ALL charges, but what are people ACTUALLY getting in this part of their claim. Hope that makes sense. Thanks in advance guys.
  16. Dear All I managed to get mum to check whether she took out any loans and managed to dig out paper work for an old AA LOAN IN 2004 FOR £20000 LOAN- £20000 MASTER INSURANCE- £6891 TOTAL LOAN- £26891 TOTAL TO PAY BACK AFTER 84 MONTHS IS £33892 AT £404 PER MONTH. The loan was taken over the phone as a joint loan along with dad. mum was 64 and dad was 65 at the time and both working for nhs and royal mail. mum said ppi was added onto the agreement with out any discussion other than taking the insurance would grant them that big loan and also they would get it at a low rate of 6.6 apr. 3 days later the courier turned up and mum and dad signed for the cheque. The loan was a single premium loan and was for 7 years. at the time when taking this big loan mum and dad were working but both due to retire in the next year or so. they owned there own house, had two good pensions, savings and work benefits 6 month sick pay etc. Do you think they were mis sold? any advice please thanks:-)
  17. Hi I'm new to this forum thing and was wondering if anyone could help me. I've heard from the FOS that Barclays are now willing to settle my ppi claim but I'm wondering how this will be calculated, this is where I could use some help. Let me explain a few details:- I took the loan out with Barclays in 1999 the ppi was added to the loan along with interest. I made payments for 40 months before I got into financial difficulty and I contacted the CCCS through whom I continued to make reduced payments until the loan and PPI was fully paid off in dec 2011. So my question is how would they calculate the claim. Would they deduct the total amount on the ppi as soon as it was paid in full back at the beginning of the loan or would they calculate the percentage of the ppi to loan payment and work any refund accordingly? does that make sense? apologies if thats not explained very well Thanks:|
  18. Hi, Can somebody please help as I can't for the life of me get my head round the figures we have been given by Black Horse for our ppi offer. We had two loans, both with ppi added on top. First loan was consolidated into second loan 9mths after taking it out. The second loan ran for 4 years with ppi and we did make a claim for one month on it, but this is listed separately in the calcs. The one part which has confused us is this... "Less Payments Due if Pro-Rata Basis" Black Horse have knocked a hefty £750 off the balance under this heading and we've no idea why? Can anyone shed any light on what it means so we can decide whether their figures tally up correctly? Thanks, Dawn
  19. Hi, Sent a SAR to HBOS for mortgage details as I'm sure we had PPI and were forced to take their very expensive House Insurance in order to have mortgage accepted. Today they sent me a copy of loan agreement and statement for a loan I took in 2001. Nice suprise and had forgotten alol about this one! First question, which spreadsheet should I use as the loan hyas a small rebate halfway through so am unsure how to work out claim Second question, the letter says this is ALL available info they hold and are required by law to send. The mortgage was joint so maybe that's why although saying that this loan they have so kindly told me about is joint also! I also have a few bank accounts with them and 3 kids accounts in my name. No mention of these either but too be honest I'm not bothered about bank stuff as I have all statements anyway and it would probably need a truck to deliver that info! They don't know this though as I didn't say I didn't want it on SAR I said I wanted ALL DATA. My mortgage would have started end of 99 or early 2000 and ended in mid 2003 but surely they still have some records? Any suggestions and a point in direction of spreadsheet and how to work out calcs for loan would be very much appreciated. Thank very much in advance
  20. I want to check if my employer has correctly applied my leave entitlement. He calculated my pro-rata entitlement to be 15 days. Which is what I expected. I work 36 hours per week with Mon, Tue and Thur being half-days. If Monday was a bank holiday, Is it correct for my employer to deduct 1 day from my entitlement even though I only work 0.5 days on Mondays?...I wouldn't be complaining if they actually paid me for a full day, but I still only got paid for 0.5 days. Unless I'm mistaken, it just doesn't seem right. Can anyone help confirm?
  21. Hi It appears the csa do not care for the fact im being paid relocation money when the office moved premise. Im now doing 120 miles a day, 600 miles a week,33,000 business miles on my own vehicle This money was just paying for my fuel (let alone the wear and tear) - now the csa have caught on, theyve upped the payments i have to make Is this allowed? Its not actual income or overtime but money to compensate me for the move
  22. Hello. First post on this forum so here goes Can anyone help with these calculations or give any advise me on this I have had 3 consecutive personal loans with the same high street bank and now in the process of making claims. The main reason for making the claims is that I have been self employed since 1983 and was not made aware of the specific exclusions relating to unemployment cover. Basic info as follows: - Loan 1 Started 5/1/98 Settled with new loan 17/8/01 (43 months of 60 month policy) Loan amount………………..8000 Personal loan protector……1800 Total interest………………..3337.60 Total amount payable…….13,137.60 Interest rate…………………….12.9% APR Monthly payments……………218.96 Loan 2 Started 17/8/01 Settled with new loan 2/1/04 (28 months of 60 month policy) Loan amount………………...6500 Personal loan protector…….1495 Total interest…………………2505.60 Total amount payable……..10,500.60 Interest rate……………………..11.9% APR Monthly payments……………175.01 Loan 3 Started 2/1/04 Settled with new loan 15/11/07 (46 months of 84 month policy) Loan amount……………….15,000 Loan protector insurance……3714 Total interest………………….6156.72 Total amount payable………24,870.72 Interest rate……………………..8.8%APR Monthly payments……………..296.08 I have tried downloading the interest calculator on this site but I have an old PC and cant manage it. Any advice would be greatly appreciated.
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