PPI and Court

[marshallka]

Re: PPI and Court

Hi Marshallka, and thank you for joining us here. Your help with this is indeed very much appreciated.

Hi Bill, I don'tknow that you will see where I am coming from but I always use this calculator for rule 78 calculations
Javascript Rule of 78 Rebate Calculator - Equal instalments

It worked out to the penny with a few of my loans and I have double checked with redress's paid out on posts on MSE and seems to work fine. Rule 78 actually makes the settlement of any loan higher (regardless of PPI) than the newer regs BUT at least Co-op (unlike FIrstplus and the likes of) actually give you a rebate against the PPI.

[pompeyfaith]

Re: PPI and Court

Marshallka,

Thank you for your assistance so do you think it is a fair assumption that if loan 80 is only about 8 quid out the others are likely to be more or less right because if that is the case for the sake of a few quid I may as well take there latest offer.

PF

[marshallka]

Re: PPI and Court

Marshallka,

Thank you for your assistance so do you think it is a fair assumption that if loan 80 is only about 8 quid out the others are likely to be more or less right because if that is the case for the sake of a few quid I may as well take there latest offer.

PF

Peronally Pompeyfaith I would say that your health is far more important and your latest offer is a bit more (they have most probably worked them using the new regs, not sure but cannot see how they could otherwise "up" their offer) so if you are asking my opinion, I would say "yes" and consider it a victory too.

No-one has fought harder than you and its taken its toll. I can only assume that the others are correct but would not want you to carry on battling and have another health issue just for a few quid more. I don't mean to put down your complaint in any way whatsoever and it is difficult working these things out and how can you trust them knowing that in the beginning they tried to rip you off but sometimes its best to "accept" and get on with things. It is up to you and I have also done another one of your loans with Turbo today (number 84 I think) and will post the figures up for that one too. Hopefully they will be similar to the redress too. I can only do that tomorrow as they are on my other computer but if you want to wait for that one too and then decide it may put your mind at rest.

I think the mix up has been is that we have not known which loans were refinanced and how long you actualy had the loans (exact number of payments) and the settlement figures for each one. We are still all with you PF and want you to be "settled" in your mind.

[pompeyfaith]

Re: PPI and Court

Peronally Pompeyfaith I would say that your health is far more important and your latest offer is a bit more (they have most probably worked them using the new regs, not sure but cannot see how they could otherwise "up" their offer) so if you are asking my opinion, I would say "yes" and consider it a victory too.

No-one has fought harder than you and its taken its toll. I can only assume that the others are correct but would not want you to carry on battling and have another health issue just for a few quid more. I don't mean to put down your complaint in any way whatsoever and it is difficult working these things out and how can you trust them knowing that in the beginning they tried to rip you off but sometimes its best to "accept" and get on with things. It is up to you and I have also done another one of your loans with Turbo today (number 84 I think) and will post the figures up for that one too. Hopefully they will be similar to the redress too. I can only do that tomorrow as they are on my other computer but if you want to wait for that one too and then decide it may put your mind at rest.

I think the mix up has been is that we have not known which loans were refinanced and how long you actualy had the loans (exact number of payments) and the settlement figures for each one. We are still all with you PF and want you to be "settled" in your mind.

Thank You all that is what I will do then wait till tomorrow for loan 84 and if it is similar to the redress offered I will accept.

You are right in that I think I have taken this complaint as far as I can and at least this offer now includes the first loan I had in March 1999 where as the first offer did not include that one so I've won on that score getting them to acknowledge that that loan did exist.

Bill thank you so much, Turboman thank you so much Marshallka thank you so much and everyone else that has helped me over the past two years thank you all.

PF
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At least this Loan will now be paid off in full and a bit of cash left over to treat my loverly wife to a weekend away somewhere as I have put her though it bless her.

PF

[marshallka]

Re: PPI and Court

Right total loan for Number 84
Loan amount 6850
PPI 1691.15
total Loan 8541.15

PPI element 19.80% (worked as PPI divided by total loan)

Repayments 59 x 188.41
1 x 188.37

Loan first payment 18/07/04
Settlement date 28/02/05
Paid in full after 8 payments??? (that is what i make!!!)

Using the calculator above
Loan without PPI is 6850
repayments without PPI element = 188.41 - 37.30 = 151.11

Total you would have paid at settlement if PPI had not been applied £6208.09

Loan with PPI 8541.15
repayments 188.41

Total at settlement with PPI applied £7740.70 LESS rebate applied against the PPI being 1132.05 = 6608.65

What you paid for the loan was 6608.65 + (8 x 188.41) 1507.28 = 8115.93
What you should have paid without the PPI is 6208.09 + (8 x 151.11) 1208.88 = 7416.97
Difference between them is £698.96 (and co-op have 694.24) so only £4.72 difference.


Hope this helps

XX

Ps PF do you have a Border Collie... I noted from CAG lol

I have one too.

[Turboman]

Re: PPI and Court

Marshallka---look at loans 1 in particular where no settlements have been taken into account

Re above on loan 3 we get £1232
Re loan 5we get £1777
Re Loan 1 we get £2303

Tell us why we are wrong

I'll be back around 10:00 but here's the SS if you can see a flaw--but we've been using this for a year or two with good results

[pompeyfaith]

Re: PPI and Court

Marshallka,

Thank You so more or less bang on that will do me.

Yes I do have a Border Collie she is a 6 yr old female and apart from my wife the most beautiful thing I have ever come across.

Did you read the thread I had on CAG about her accident and subsequent operations costing a whopping £6000.
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Be back in a wee while, has stopped raining so taking dog for a walk and get some fresh rainy air.

PF

[nelliewops]

Re: PPI and Court

Hi PF,

It's great to see you now have another PPI expert fighting your corner - finally with Bill's, Turbo's and Marshallka's help you might get this sorted at very long last - it's what you deserve after all you've been through since your fight against the Co-op started!

Like the others have said, your health is the most important thing here PF - that and treating both you and Mrs PF to something nice!

I have to add that part of the problem here seems to be the dreaded spready recommended by our friends OTR - I wonder just how many others have been mis-led by that :tinysmile_cry_t:

Nellie x

[marshallka]

Re: PPI and Court

Marshallka,

Thank You so more or less bang on that will do me.

Yes I do have a Border Collie she is a 6 yr old female and apart from my wife the most beautiful thing I have ever come across.

Did you read the thread I had on CAG about her accident and subsequent operations costing a whopping £6000.

Wow, no I did not. What a shame...poor little thing, I will try to take a look. My border has just been diagnosed diabetic. We have to give him insulin jabs now twice a day. He is my faithful friend. He's 10 this year.

[Turboman]

Re: PPI and Court

I think I'll retreat to PAG!!!!!!!

[marshallka]

Re: PPI and Court

Marshallka---look at loans 1 in particular where no settlements have been taken into account

Re above on loan 3 we get £1232
Re loan 5we get £1777
Re Loan 1 we get £2303

Tell us why we are wrong

I'll be back around 10:00 but here's the SS if you can see a flaw--but we've been using this for a year or two with good results

Hi Turbo, I can only give my input as I know it. We really need the actual settlement figures to double check. I cannot open the above on this puter so will have to look tomorrow on my desk top. I noted you had 14 repayments made on the above loan and I have only 8 as per the dates. Perhaps that is something that could make a difference perhaps. I will re work it on 14 and post up.

[leclerc]

Re: PPI and Court

Marshallka, are you using Microsoft Office or Open Office?

[pompeyfaith]

Re: PPI and Court

Wow, no I did not. What a shame...poor little thing, I will try to take a look. My border has just been diagnosed diabetic. We have to give him insulin jabs now twice a day. He is my faithful friend. He's 10 this year.

You will find that thread in the vets forum OTR it is complete with x-rays and all.

Good job I had insurance to cover the bills which also meant I could get the best treatment possible for her.

She is now well on the mend and back to her usual self.

PF

[marshallka]

Re: PPI and Court

TURBO. JUST FOR YOUR INFORMATION AND NOT FOR POMPEYFAITH !!! (THIS IS WORKED OUT ON 14 REPAYMENTS MADE??????????


Right total loan for Number 84
Loan amount 6850
PPI 1691.15
total Loan 8541.15

PPI element 19.80% (worked as PPI divided by total loan)

Repayments 59 x 188.41
1 x 188.37

Loan first payment 18/07/04
Settlement date 28/02/05
Paid in full after 14 payments??? (as per the spread sheets but does look to be only 8 as per dates on agreement and assuming settlement was 8 months later being Feb 2005!!)

Using the calculator above
Loan without PPI is 6850
repayments without PPI element = 188.41 - 37.30 = 151.11

Total you would have paid at settlement if PPI had not been applied £5670.17

Loan with PPI 8541.15
repayments 188.41

Total at settlement with PPI applied £7069.95 LESS rebate applied against the PPI being 1132.05 = 5937.90

What you paid for the loan was 5937.90 + (14 x 188.41) 2637.74 = 8575.64
What you should have paid without the PPI is 5670.17 + (14 x 151.11) 2115.54 = 7785.71
Difference between them is £789.93

This is how I would work it IF there were 14 repayments made to settling the loan early. Just another opinion Turbo.
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Marshallka, are you using Microsoft Office or Open Office?

Hi, I am on a small aspire lol. I always use it at night. I think its open office? I am not that good with puters TBH but find my way on my desk top. This one is purely for browsing.

[pompeyfaith]

Re: PPI and Court

Dear Oh Dear--I absolutely despair--I think I'll retreat to PAG!!!!!!!

Hi Turbo, I can only give my input as I know it. We really need the actual settlement figures to double check. I cannot open the above on this puter so will have to look tomorrow on my desk top. I noted you had 14 repayments made on the above loan and I have only 8 as per the dates. Perhaps that is something that could make a difference perhaps. I will re work it on 14 and post up.

lol now totally confused it would appear we need those settlements as they are key to this as you will see I did try to get those but they refused to release them I wonder why? furthermore the FOS backed them up on that point for some reason.

Are we at least agreed that thee only reason is damage limitation?

Perhaps a stronger worded letter to the bank will do the trick.

BTW I do have a solicitors willing to take this on and infact my cousin is one of them at burnetts.

So I could get a sols letter sent to them.

PF
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I was not paying two loans at the same time that is certain le me check the dates again.

PF