Jump to content


Need some help please - PPI value & interest


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4205 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Having a bit of a hard job deciphering the PPI amount and thus the interest.

Obviously the CCA is junk, and messy - but I could do with these figures to back up my letter.

 

A enlarged crop of the details needed can be found http://i754.photobucket.com/albums/xx182/niknakszaks/002web.jpg

 

wich ever way I try to put the figures into the calc spreadsheet or on-line loan calc's its messed up completely.

Any help please ?

Thanks in advance for your time.:)

Link to post
Share on other sites

Hi Niknak,

 

You have provided the amount of PPI charged and the interest rate, but there are some more pieces of information needed in order to help.

 

1) When was this loan taken out?

2) Has the loan been paid off in full?

3) If not, how much of the monthly payment is for the PPI?

 

Post these details and I will be happy to help you with the calculations.

 

DJ

  • Haha 1
Link to post
Share on other sites

post the full agreement

 

dx

  • Haha 1

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... 

Link to post
Share on other sites

Thanks,

 

ties in with another post/issue I have on the go.

I guess for the purpose of the DCA it would be classed as full term (that is what they claim anyway).

 

 

So for the purposes of the calc please use;

48months, payment in full.

started 03/02/2001

 

 

 

Thanks

Link to post
Share on other sites

scan your agreement

remove all pers info inc barcodes etc but leave all figures and dates.

goto one one of the many free online pdf converter websites

convert the image to pdf format.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

browse to your pdf file and upload it

hit close this windows at the bottom below upload it box

 

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... 

Link to post
Share on other sites

Thanks,

 

I will re-upload a full photo of it as I already have one done. A problem is that its quality is so poor that most of the other information is illegible.

*EDIT* DONE http://i754.photobucket.com/albums/xx182/niknakszaks/005.jpg

 

A Cross link for my other post for reference is HERE

Link to post
Share on other sites

Hi Niknaks,

 

Thanks for posting up the agreement. In order to do the calculations we do need to know how much of your monthly payment was going towards paying for the PPI.

 

This information is not on your credit agreement as far as I can see.

 

DJ

Link to post
Share on other sites

Sadly, thats all the information I have, infact its not even clear as to the figures of the agreement , hence my confusion.

 

It could be said that the whole lump sum was paid upfront as part of the loan(ignoring anything about rules against that atm), therefore if I use the lower of the 2 values and the term of 4years I get around £416 interest paid on that amount, then do I use the 8% from the start date?

 

I am sure you can see where my confusion comes from.

Link to post
Share on other sites

I certainly can Niknak.

 

I think you are not far away with the interest figure and on that basis I have calculated your monthly PPI payment as £22.46.

 

Now as this loan is paid off in full and assuming it ran the full term ie 48months, you can claim the original charge for PPI ie £1050.58 and lets use your interest figure of £416, then add the 2 together.

 

Last thing we do is calculate the statutory interest at 8% per annum, from date of each payment to date of settlement. As we cannot know at this stage when the date of settlement will be, I have entered tomorrow's date 15/07/10 into the calculator and come up with a total of £646.31.

 

Therefore your total claim would be:

 

Original PPI charge: £1050.58

Plus interest charged: £416

Plus statutory interest: £646.31

 

Total claim = £2,112.89

 

I am not a professional, but have successfully made several PPI refund claims and this was the way FOS and barclays calculated mine.

 

Hope this helps.

 

Best of luck

 

DJ

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...