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    • But they can't take it from your drive? Nor move another car that would be blocking the car in question in? And would it need to be a paper stamped copy of the bos? The guy that called at my house only had a tablet 🤣 he left before I even had a chance to ask for the bos 🤣
    • you mean getting had blind...thats all DCA's ever do on anything ...they are totally powerless on any type of debt ...end of.   they can goto court and get a ccj on a debt, but that does not make them bailiffs and that getting of a CCJ is use of no special magical powers..you or i can goto court and raise a claim if we believe someone owes us money..they are no different to us the std joe public.   with regard to repo/lifting cars, it doesn't have to be a DCA.. there is only one condition that protects you - that being the car is under an HP Agreement and you have paid more than 1/3rd so thus is deemed protected good, - they CAN take it from the public highway as long as they have a copy of the Default Notice and (where necessary) the Bill of sale.
    • Stop worrying You called their bluff hence why he was so nice..you outsmarted him Ccp will advise if they wanted to attempt their snatch it tactics again and just remember keep it on your drive where possile   we 'll put them straight in our letter but the more time i waste replying to silly worrying posts the further we get delayed
    • The DCA though claim on their website however that they are part of the FCA. So they cannot claim to be regulated by the FCA yet ignore their ruling on repossessions.  I do know now though that they don’t have legal powers but this would still not stop them lifting my car. Legal powers or not unfortunately. I would not have the money to get it back and I would lose it. That’s my fear. 
    • Numerous pictures removed Please put them all in one multiple page pdf  Dx
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    • Hi @BankFodder
      Sorry for only updating you now, but after your guidance with submitting the claim it was pretty straight forward and I didn't want to unnecessarily waste your time. Especially with this guide you wrote here, so many thanks for that
      So I issued the claim on day 15 and they requested more time to respond.
      They took until the last day to respond and denied the claim, unsurprisingly saying my contract was with Packlink and not with them.
       
      I opted for mediation, and it played out very similarly to other people's experiences.
       
      In the first call I outlined my case, and I referred to the Contracts (Rights of Third Parties) Act 1999 as the reason to why I do in fact have a contract with them. 
       
      In the second call the mediator came back with an offer of the full amount of the phone and postage £146.93, but not the court costs. I said I was not willing to accept this and the mediator came across as a bit irritated that I would not accept this and said I should be flexible. I insisted that the law was on my side and I was willing to take them to court. The mediator went back to Hermes with what I said.
       
      In the third call the mediator said that they would offer the full amount. However, he said that Hermes still thought that I should have taken the case against Packlink instead, and that they would try to recover the court costs themselves from Packlink.
       
      To be fair to them, if Packlink wasn't based in Spain I would've made the claim against them instead. But since they are overseas and the law lets me take action against Hermes directly, it's the best way of trying to recover the money.
       
      So this is a great win. Thank you so much for your help and all of the resources available on this site. It has helped me so much especially as someone who does not know anything about making money claims.
       
      Many thanks, stay safe and have a good Christmas!
       
       
        • Thanks
    • Hermes and mediation hints. https://www.consumeractiongroup.co.uk/topic/428981-hermes-and-mediation-hints/&do=findComment&comment=5080003
      • 1 reply
    • Natwest Bank Transfer Fraud Call HMRC Please help. https://www.consumeractiongroup.co.uk/topic/428951-natwest-bank-transfer-fraud-call-hmrc-please-help/&do=findComment&comment=5079786
      • 31 replies
    • Hermes lost parcel.. Read more at https://www.consumeractiongroup.co.uk/topic/422615-hermes-lost-parcel/
      • 49 replies

Best ppi compound interest calculator


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Erm, I think there is one floating round the forums.. I will go find it for you.

 

Just sent an S.O.S. to the person who knows where it is :)

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1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

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3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

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BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

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5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

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more info please

whats the PPI on?

 

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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Hi

 

The attached CI sheet works and should be used for credit cards or running credit accounts.

 

You'll find that this and the other one you mentioned are very close. In the other one most people enter their APR inthe interest box. That calculator is not designed to convert APR to actual interest rate so you tend to get a higher answer than would actually be the case if it were analysed.

 

With the spreadsheet attached it converts an APR to an actual interest rate and then compounds based on that.

 

As dx says....what is this claim for because if it is on a loan then the calculations are different.

 

Regards

 

ims

 

CISheet.xls

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

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I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

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hope you have all the statement as its a CC

 

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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Hi

 

The attached CI sheet works and should be used for credit cards or running credit accounts.

 

You'll find that this and the other one you mentioned are very close. In the other one most people enter their APR inthe interest box. That calculator is not designed to convert APR to actual interest rate so you tend to get a higher answer than would actually be the case if it were analysed.

 

With the spreadsheet attached it converts an APR to an actual interest rate and then compounds based on that.

 

As dx says....what is this claim for because if it is on a loan then the calculations are different.

 

Regards

 

ims

 

[ATTACH]29397[/ATTACH]

 

thanks, for the explanation and I will use your one.

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hope you have all the statement as its a CC

 

dx

 

yes got all statements just wonder who to claim off, it was originally with A& L when ppi started and then sold to MBNA who kept on charging and taking payments, was thinking santander would now be a good bet to claim off.

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I would think you would need to approach A&L if they were the original creditor :)

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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  • 6 months later...
  • 5 months later...

Hi again ims21,

 

I'm just inputting my figures for a PPI reclaim using the above calculator, the only account information I can find on my statement says -

 

your current MONTHLY rate of interest is;

1.204% for purchases

1.496% for cash

 

is it simply a matter of multiplying the above by 12 and placing that in the APR box (may be obvious but don't want to make a cock up). If so, which of the two figures above do I use?

 

I thought I had a reasonable head for maths but my heads in bits :???:

 

much appreciated

 

Tenmen10

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MonthlyToAPR.xls

 

It's the purchase rate you should use

  • Confused 1

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

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Erm,

 

by using that calculator I've got a monthly rate of interest of 1.204% which gives me an APR of 15.4% . . .

 

My charges total of £303.92 gives me a total of £956.58 (£652.66 Compound interest)

 

Surely thats wrong???

 

Tenmen10

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You say charges....is this not a PPI reclaim?

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

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nope its compounded

 

when did the card start?

 

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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Sorry ims21,

 

I meant the interest (PPI) amount as per my SAR. It totals £303.92, the PPI on my card started in December 2003 up to July 2005.

 

The interest (compounded) is higher than the PPI paid. £956.00 is incredible considering Lloyds offered me a little over £100!!!

 

Tenmen10

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well they've had YOUR money for all that while

you are entittled to it back at the rate they have invested it at.

 

read the fos website

 

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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OK

 

Since this thread started a new spreadsheet has been developed for credit card PPI for those that have ALL STATEMENTS (or copies of them)....this is it.

 

FosRunningPPI v102.xls

 

If you have a transaction history rather than statements use this one

 

FosCISheet v101.xls

 

If your card stopped in 2005 your "claim to" dateif you are using the fosCISheet is the date the card stopped and then you put the result of that spreadsheet into this one as a one line entry with the "claim to" date being today.

 

StatIntSheet v101.xls

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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dx100uk,

 

I know it just seems to good to be true, I'll be interested to see Lloyds' reaction the cheeky tarts :lol:

ims21, your a Diamond, the calculators are great especially with the idiots guide,

 

cheers you two, have a good weekend,

 

Tenmen10

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Hi ims21,

 

regarding the cover letter I'll be sending Lloyds/TSB about the above PPI calculator what exactly am I claiming? (bear with me)

 

Theres APR, compound interest and the 8% which gets banded about but I'd like to be able to explain in my letter how I came to my total especially since its so much higher than the offer they gave me. Do the banks usually add interest per monthly payment as I have done from the date of charge and where does the 8% part I've read of come in?

I realise that Lloyds/TSB should know how I've come to my total but I'd rather understand my claim and tell them I know what I'm talking about (even if I don't)!

 

The question maybe doesn't quite read right so I apologise if it reads nonsense but I'm struggling to make it clearer :???:

 

Any help much appreciated,

 

Tenmen10

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Erm, this is the first mention in the thread that you've had an offer?

 

What have they offered?

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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Hi ims21,

 

regarding the cover letter I'll be sending Lloyds/TSB about the above PPI calculator what exactly am I claiming? (bear with me)

 

Theres APR, compound interest and the 8% which gets banded about but I'd like to be able to explain in my letter how I came to my total especially since its so much higher than the offer they gave me. Do the banks usually add interest per monthly payment as I have done from the date of charge and where does the 8% part I've read of come in?

I realise that Lloyds/TSB should know how I've come to my total but I'd rather understand my claim and tell them I know what I'm talking about (even if I don't)!

 

The question maybe doesn't quite read right so I apologise if it reads nonsense but I'm struggling to make it clearer :???:

 

Any help much appreciated,

 

Tenmen10

 

you do not need to explain..

use this as a covering letter

 

The Complaints Department

[Lender’s address]

[Date]

Dear Sir/Madam,

Ref – policy number

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

I took out a £xxx loan/credit card at your [branch name] branch on [date] and also bought a payment protection policy which would cost me an extra £xxx over the life of the loan. [The name of the salesperson who sold me the policy is …] The total amount of my premiums plus interest is £ xxxx.

When I took out the loan, I was told that my application would be refused if I did not also buy a PPI policy. The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a borrower should not be refused a loan if they choose not to buy an insurance policy.

Possible additional paragraphs – include any which apply to you

[i also told your salesperson that I had adequate insurance cover through a separate income protection policy.]

 

[i said I did not need the PPI as my employer provides a generous illness and redundancy package.]

[You are not allowed to make PPI a condition of taking out the loan unless you include the costs of PPI in the quoted interest rate, which you did not do.]

[in forcing me to buy this policy, you have also breached paragraph 8.6 of the Banking Code, to which you are a signatory.]

I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I did not need this insurance and said at the time of taking the loan that I did not want it.

I am requesting a full refund of all my insurance payments, plus interest, which total [£ xxx].

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

Yours faithfully,

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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  • 3 months later...

Hi, I'll start by saying what a helpful thread this is, and the attached excel tools are great.

 

I started using the FoSRunning spreadsheet as, thanks to a SAR, I have 9 years of statements to work with.

 

However, the card balance in column E was not coming out to same as my statement balance once I put in the charges and payments.

 

I see from the calculation that is is taking the running total from column E, adding the payments made in column D, and subtracting the charges incurred in column C.

 

Should it not Add the spend ( column C ) and subtract the payments ( column D) ?

 

If I change the formula to do this then the balance shown matches my statement balance - or am I missing a critical point for calculating the interest ? ( which is adding up nicely by the way !)

 

Thanks in advance.

Mia.

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If you have followed the instructions then the balance will calculate correctly.

 

For example put in a spend of 50, repayment of £20 and the balance will show as -£30.

 

There is no need to change any of the formulae.

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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