How to work out citifinancial PPI multiple loans starting in 2003

[cassie53]

Hi,

 

Can I just confirm that I am doing this the right way.

 

I had my first loan from citifinancial in 2003, but then re financed another two times so the loan just grew.

 

I am confused working out the payments, but I will get there.

I then add the amounts onto the the compound amount, I then add onto this the 8%?

 

Also looking at the paperwork included in the loan was arrangement fee of 75.00 the first time and 100.00 for the next two loans. Do I add this, or remove this payment in the calculations?

 

Thanks for all help you give, I must surely get to grips with this all soon!!!!!

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?337717-Calculating-PPI-Interest-Stupid-Question-Alert!-Help-Please!&p=3738910#post3738910

 

dx

[cassie53]

HI

 

I just sent the letter, as I was having problems with the single premium sheet!

 

Working out the percentages of one loan going into another and then another

- I was going around in circles! (Percentages never being one of my strongest points!)

 

I know when I was working it out it was over 2,000 pounds, but I could have been wrong.

 

So over this weekend I need to get some quiet time and work it all out.

 

To be honest I thought I would have a fight with them about it.

 

Many thanks.

[ims21]

If you really get that stuck we will help you with the figures.

 

As a starter though we like to encourage people to have a go at the spreadsheets themselves but there is no sham if the maths doesn't click with you. At least you will have given it a shot.

 

Just ask and we will take you all through it step by step

[cassie53]

Thanks that is really appreciated. But, like you say I should have a go and my plan is to do this on Sunday when it is quiet. I have printed off the explanation of how to do it, so I aim to give it a try. But if it don't look right, I might just ask for you to look at it for me! Thank you.

[ims21]

[cassie53]

HI

 

A couple of questions if anyone can help

 

1. Just trying to work out the claim for PPIi for Citifinacial. I had three loans running into one another, but the last one went

to DCA then they took out a charging order which I did not know about so got a loan to pay before the order came into

action. How would you work this out on the claim? It was a couple years later after the last monthly payment, and it was

full payment?

 

 

2. Just working out the claim for the lst loan I borrowed 1500 pounds at 116.40 for 18 months - just worked it out it comes

to 2095.20! not 1703.65 that they have on their paperwork. How do you work this out on the form. Why did they not

put the correct final amount on the form?

 

 

 

I still have two more to go, so sorry people no doubt there will be a few more enquiries. How was I so stupid! Must have been desperate at the time, so much wiser now.

[cassie53]

Hi,

 

I have put here my calculations not sure what you need to know but can someone look at this for me and let me know what is wrong with it, before I send it off to Citi. I just don't want to make a fool of myself by sending all the wrong details off.

 

1st loan 27/11/2003 for 18 months ppi was 128.65 total loan 1703.65

2nd loan 27/11/2003 for 18 months ppi was 170.80 total loan now 2370.80

3rd loan 29/3/2005 for 36 months ppi was 412.25 total loan now 4012.25

 

Paid until December 29/12/2006 then DCA took over and paid in full 16/7/2009 £2600

 

Hope someone can give me feedback on this.

 

Many thanks

[cassie53]

HI,

 

Can someone look at these calculations for me?

 

Many thanks

[ims21]

Hi cassie....I'll grab a look at these during the day for you

[dx100uk]

you need to put up your calcs as we don't know the refinance figures please

 

show how you did the working as link 1 below

[cassie53]

HI,

 

Back again

- Citi Financial have agreed liability

but just on two loans not the lst loan

 

I every took out with them.

 

We are going backwards and forwards with this,

 

their letter states

 

In order to progress your complaint we require some additional information as we have been unable to locate your account with the details you have provided.

 

Examples of information we can use to locate accounts include.

 

A valid account number - the account number you have already supplied is not valid

 

All previous address history - should you have moved we need bank details....etc.

 

Change of name - they want details.

 

Then it goes on To allow us to fully investigate your complaint,

please provide the information requested above.

 

Without this information your complaint will be investigated on the basis of the information we already hold.

 

This could lead to you being dissatisfied with the outcome of our investigation or it could prevent any fianncial redress being paid promptly.

 

I don't know what else to send.

 

I told them that they had sent me copies of the loan in the SAR

- but they are just ignoring this.

 

Any ideas?

 

So sorry to go on.

[ims21]

If they sent you copies of the documents relevant to this loan with the SAR, you could copy those and send them back to them? (or am I not reading this correctly?)

[cassie53]

Which is what I did,

 

but they have said they have do not recognise the accout.

 

Do I have any other paperwork or letters about the loan.

 

Which I don't as you just keep paying these things and other than things go wrong you do not receive any other letters.

 

Also being as it was the lst loan, and I then had two other loans tagging on to that one

 

all the letters I have refer to the last loan.

 

I don't know what else to send them.

[ims21]

No statements for that loan included with the SAR?

[cassie53]

No, nothing - it had all the agreements - but nothing about payments.

[ims21]

Ok and have you given them your address history and/or any change of name?

 

Sorry for all the questions.

 

Are you able to post up those agreements with your personal details removed?

[cassie53]

They have agreed liability as they have made me an offer on the two of the three loans, but not the first.

 

Silly really as all loans tagged on to one another and it is the original lst loan they are saying they cannot find.

 

They did want the original copy of the loan (which I have)

but after saying they have not received two of my recorded delivery letters - I won't send it.

[cassie53]

No, as I have not moved and not changed my name ( would have been helpful now and again) but no, everything is the same.

[ims21]

You are right not to send the original.

[ims21]

Use this method to post up your documents, You will need to convert them to PDF files but follow the instructions and you will be fine.

 

Make sure the file names do not include your real name.

 

set your default scan page size to A4 less than 300DPI [150 will do]

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc using paint program

but leave all monetary figures and dates.

************************* ************************* *******

{DO NOT USE A BIRO OR PEN OR USE SEE THRU TAPE OR LABELS]

try http://www.pdfescape.com TO BLANK STUFF,

************************* ************************* ***********

or

DO IT IN MSPAINT.EXE or any photo editing program

goto one of the many free online pdf converter websites ...

http://freejpgtopdf.com/

..

if you have multiple scans/pics

put them in a word doc FIRST and convert that to PDF

or use http://www.pdfmerge.com

 

convert existing PC files to PDF [office has an installable print to PDF option]

..

 

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

try and logically name your file so people know what it is.

though dont use full bank names or CAGicon in the title

i'e Default notice DDicon-mm-yyyy TSB

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

.

dx

[ims21]

Would be good if all three agreements could be posted up

[cassie53]

Sorry can you look at these for me, and see if I have done this right (not hopeful!).

 

Here are the details:

 

LOAN 1.

17/6/2003

Total Loan: £1703.65

PPI 128.65

Monthly payment: £116.40

 

LOAN 2

27/11/02

Total Loan: £2370.80

PPI 170.80

 

LOAN 3

29/3/2005

Total Loan: 4012.25

PPI 412.25

 

if you need anymore info please let me know - I will welcome the help. I have been putting this off as I have not found it easy, and have spent many a hour trying to work this out.

 

Many thanks

[dx100uk]

the pdf copies please

 

we don't know if your posted figures are with/without int etc

[cassie53]

Hi dx100uk,

pdf copies of my loans agreements? not sure what you mean... sorry.