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Can someone please help check these refund figures?


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Hi everyone:)

 

I'm looking for some help with checking refund figures in relation to mis-sold PPI on a LTSB loan please. The figures are as follows -

 

Loan amount £10,000 (total cost including interest £12843.00)

Single Premium PPI £2113.30 (total cost including interest £2713.80)

Monthly loan repayment £259.28 of which £45.23 was PPI

Loan term 60 months

APR 10.8%

Months paid 15

Cost to settle early £8754.09 which included a PPI rebate of £997.00

 

Refund offered £1251.47 + 8% interest.

This has not been broken down at all, but would I presume includes 15 x £45.23 (PPI premiums) totalling £678.45.

 

Before I accept this offer I would like to know it is roughly correct.

 

LTSB have already incorrectly stated the amount of rebate received, quoting a figure of £1042.80 instead of the £997.00 that was actually received so I am disinclined to take their word their refund offer is correct.

 

Any help would be greatly appreciated, thank you!

 

Landy x

LTSB PPI on various loans (current/settled) - Refunded inc 8%

 

MBNA 1 Charges - Refunded inc CI

 

MBNA 1 PPI - Refunded

 

MBNA 2 Charges - Refunded inc 8%

 

MBNA 2 PPI - Refunded

 

MBNA 2 Accident Ins - Refunded

 

Swift Advances (settled) Mortgage Charges -Partially refunded

 

Swift Advances (settled) Mortgage PPI - Refunded inc CI & 8%

 

Sainsburys (settled) Loan PPI - Refunded inc CI +8%

 

Sainsburys (closed) Card Charges - Refunded inc CI + 8%

 

M&S Money (closed) Card Charges - Refunded inc CI

 

M&S Money (closed) Card PPI - Refunded inc 8%

 

Direct Line (settled) Loan PPI - Refunded inc CI + 8%

 

Debenhams Card (closed) PPI - Refunded inc 8%

 

Swift Mortgage Charges -Refunded

 

Hitachi Finance (closed) Charges - Refunded

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to correctly calc you will need the dates of your 15 payments.

then it's +8% int on the £45.83 from the date they took each payment, to the date of your claim.

 

then take 15X45.83 from the orginal PPI tot+int

then take that away from that the PPI rebate given

 

then you charge them +8%int ontop of that figure from its date

to the date of your claim,

to the day of your claim.

 

i think....

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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to correctly calc you will need the dates of your 15 payments.

then it's +8% int on the £45.83 from the date they took each payment, to the date of your claim.

 

then take 15X45.83 from the orginal PPI tot+int

then take that away from that the PPI rebate given

 

then you charge them +8%int ontop of that figure from its date

to the date of your claim,

to the day of your claim.

 

i think....

 

dx

 

Hi dx:-)

 

Yes that's what I thought, so -

 

1) 15 x £45.23 = £678.45 plus 8% on each payment from payment date to claim date

 

2) PPI total plus interest (£2713.80) - £578.45 = £2035.35

 

3) £2035.35 - PPI rebate (£997.00) = £1038.35

 

4) £1038.35 plus 8% from settlement date to claim date

 

So total refund should be £1716.80 (£678.45 + £1038.35) + 8%..............I think?

 

Whereas LTSB have offered £1251.47 + 8%

 

Trouble is getting them (and the FOS) to understand:confused:

 

Landy x

Edited by landy_alert

LTSB PPI on various loans (current/settled) - Refunded inc 8%

 

MBNA 1 Charges - Refunded inc CI

 

MBNA 1 PPI - Refunded

 

MBNA 2 Charges - Refunded inc 8%

 

MBNA 2 PPI - Refunded

 

MBNA 2 Accident Ins - Refunded

 

Swift Advances (settled) Mortgage Charges -Partially refunded

 

Swift Advances (settled) Mortgage PPI - Refunded inc CI & 8%

 

Sainsburys (settled) Loan PPI - Refunded inc CI +8%

 

Sainsburys (closed) Card Charges - Refunded inc CI + 8%

 

M&S Money (closed) Card Charges - Refunded inc CI

 

M&S Money (closed) Card PPI - Refunded inc 8%

 

Direct Line (settled) Loan PPI - Refunded inc CI + 8%

 

Debenhams Card (closed) PPI - Refunded inc 8%

 

Swift Mortgage Charges -Refunded

 

Hitachi Finance (closed) Charges - Refunded

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looks ok

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

Thanks dx;)

 

What I fail to understand is if we can work this out and its obviously correct, why the blooming FOS are unable to see that what LTSB have offered is wrong?

 

The FOS have said if we don't accept the offer it has to go to full adjudication, which from recent experience on another PPI claim will take another 6 months (minimum) and result in exactly the same decision - that LTSB have fulfilled their obligations and followed the FOS redress remedy.......which as far as I can see is total cobblers!

LTSB PPI on various loans (current/settled) - Refunded inc 8%

 

MBNA 1 Charges - Refunded inc CI

 

MBNA 1 PPI - Refunded

 

MBNA 2 Charges - Refunded inc 8%

 

MBNA 2 PPI - Refunded

 

MBNA 2 Accident Ins - Refunded

 

Swift Advances (settled) Mortgage Charges -Partially refunded

 

Swift Advances (settled) Mortgage PPI - Refunded inc CI & 8%

 

Sainsburys (settled) Loan PPI - Refunded inc CI +8%

 

Sainsburys (closed) Card Charges - Refunded inc CI + 8%

 

M&S Money (closed) Card Charges - Refunded inc CI

 

M&S Money (closed) Card PPI - Refunded inc 8%

 

Direct Line (settled) Loan PPI - Refunded inc CI + 8%

 

Debenhams Card (closed) PPI - Refunded inc 8%

 

Swift Mortgage Charges -Refunded

 

Hitachi Finance (closed) Charges - Refunded

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