Calculating PPI on Credit Cards

[Turboman]

Re: Calculating PPI on Credit Cards

nah---just run out of this:

Turbs,

You running out of stamina in your old age lol

I best get you some PRO PLUS fella!!!!!!!!!!!!!

[Budgie]

Re: Calculating PPI on Credit Cards

That is where Turboman will help out as he is the spreadsheet and calculations expert on this forum.

Hold tight he will be with you shortly.

But I will say that compounded interest does make a big difference to a claim.

Ummmmmm cough !!!!! LOL

[Turboman]

Re: Calculating PPI on Credit Cards

Ummmmmm cough !!!!! LOL

Hey Budgie---someone had to hold the fort while you buggered off on a sabbatical-so no sarcastic cryptics--pmsl

Anyway---I have the lovely Marshallka & grumpy Bill-k to work with me---shall I ask for a board meeting to see if you can join us -- roflmfaowpimp--CV to be sent to Simiantics@gmail.com

[Bill-K]

Re: Calculating PPI on Credit Cards

Ummmmmm cough !!!!! LOL

......OOOOPS !!!
Although, to be fair, I think Turbo is $h1t-h0t with PPI and amortisation - when he's awake. :tung:
As Turbo has said, Max, if you can post up or send a spreadsheet, we can work with that. We need numbers to crunch.

And as PF has said, the Debited Account interest can make a big difference. In effect, every time a PPI premium is deducted from the account, it increases the balance owing by that amount. This accumulates over time, with a 'snowball' effect. The monthly interest charged to the account is calculated as a percentage of the balance owing each month. It follows, then, that a portion of this interest would NOT have been charged if the PPI had not been sold. It is THIS interest which we add to our claim.

Additionally, we add 8% Statutory interest to that, as well, so this can make quite a difference. It would appear that LTSB have probably calculated your refund properly - but perhaps Tesco have not. This is why we need to check the figures with each claim.

Far be it from me to step on Budgie's talons and pretend any expertise in this field. I'm just an amateur. Can you link us to a Credit Card PPI spreadsheet for this purpose, please, Budgie ? It's probably my age, but I can't find one here. Life is a continual 'senior moment' for me these days, so I do apologise !!!

[Turboman]

Re: Calculating PPI on Credit Cards

Ummmmmm cough !!!!! LOL

Don't be coy Budgie----send me current claim stuff-----and I'll cure your cough!!!

[MaxedOutMan]

Re: Calculating PPI on Credit Cards

I've emailed the LTSB info to the email address supplied.

As for the Tesco info, so far all I have is the statements covering the PPI period from Mar 02 to Jun 06 and their PPI offer amount. There was no calculation included in the offer.

I presume you will need the balance and payment info for each month up to today's date, as well as the average monthly interest rate to allow a proper calculation? If so, I'll try and get hold of that info.

Cheers all.

[Turboman]

Re: Calculating PPI on Credit Cards

I've emailed the LTSB info to the email address supplied.

As for the Tesco info, so far all I have is the statements covering the PPI period from Mar 02 to Jun 06 and their PPI offer amount. There was no calculation included in the offer.

I presume you will need the balance and payment info for each month up to today's date, as well as the average monthly interest rate to allow a proper calculation? If so, I'll try and get hold of that info.

Cheers all.

cheers---Bill has had a look & I'll forward em to Budgie later this morning

[MaxedOutMan]

Re: Calculating PPI on Credit Cards

Me again......

Having requested the Tesco CC info this morning, they've kindly just emailed the details to me.

I've sent this to the email mentioned above.

Cheers all.

[MaxedOutMan]

Re: Calculating PPI on Credit Cards

Evening all, hope you all had a pleasant weekend.

Hopefully both the Lloyds and Tesco files reached you ok.

Did you manage to have a quick look at the figures? Just wondering in your opinion if the Tesco CC offer was within reason?

Also, is there a CC calculation spreadsheet available on the site?

Cheers all.

[Turboman]

Re: Calculating PPI on Credit Cards

Evening all, hope you all had a pleasant weekend.

Hopefully both the Lloyds and Tesco files reached you ok.

Did you manage to have a quick look at the figures? Just wondering in your opinion if the Tesco CC offer was within reason?

Also, is there a CC calculation spreadsheet available on the site?

Cheers all.

Sorry Mate----got diverted----on your case now & will get Bill also

[MaxedOutMan]

Re: Calculating PPI on Credit Cards

Hey not a problem at all.

[Bill-K]

Re: Calculating PPI on Credit Cards

Also, is there a CC calculation spreadsheet available on the site?

Read more at: Calculating PPI on Credit Cards - Legal Beagles Consumer Forum

Ummmmmm cough !!!!! LOL

ahem

[MaxedOutMan]

Re: Calculating PPI on Credit Cards

The calculation received from Tesco seems quite detailed, although not sure of it's accuracy as I can't get into the formula's.....I think they may have locked it.

As for the one from Lloyds TSB, all they would give me is a list of amounts on paper rather than a spreadsheet....they were definately hiding their calcs!

[Budgie]

Re: Calculating PPI on Credit Cards

Hi Maxedoutman

Please forward me a copy of the proposals by email and I will have a look for you.

Email address will be sent to you by PM

Regards Budgie

[Turboman]

Re: Calculating PPI on Credit Cards

Sorry Budgie--you should have em now