Hello,
I am new to this and so confused, I have received a refund from Barclay's this week with regards to a PPI claim I had put in.
The breakdown as follows. Original PPI Policy Premium -£1428.73, Interest incurred due to PPI £306.81, Less refunds (I paid the loan off early) £808.01,
Overpayments made due to residual PPI £42.97 Total £970.50, 8% per annum simple interest on PPI overpayments £578.00, Additional 8% per annum simple interest payable to residual PPI £187.33 finally Total Refund due on this loan Including interest £1735.83
To cut a long story short (if possible) I have the original loan agreement stating that the cash loan for £6000 and the Premium loan (PPI) for £1428.73
Total Charge for credit APR 17.9 on the cash loan is £2890.20 and for PPI is £688.07 payments £148.17 + £35.28 total £183.45 paying back a Total of£11,007 over 60 months.
Here is were my confusion has started:tinysmile_cry_t: I had paid the loan back only early after 16 months ( took loan 22/01/04 - 05/05/05) In total I have paid them back £10,425.4 (this included the PPI refunded £808.01 as mentioned in their letter). Does the PPI refund I have received seem correct??? as it seem I only save £518.00 odd quid for paying my loan back a few years early.
Thankyou for taking ur time out to read this.
KnightRider
I am new to this and so confused, I have received a refund from Barclay's this week with regards to a PPI claim I had put in.
The breakdown as follows. Original PPI Policy Premium -£1428.73, Interest incurred due to PPI £306.81, Less refunds (I paid the loan off early) £808.01,
Overpayments made due to residual PPI £42.97 Total £970.50, 8% per annum simple interest on PPI overpayments £578.00, Additional 8% per annum simple interest payable to residual PPI £187.33 finally Total Refund due on this loan Including interest £1735.83
To cut a long story short (if possible) I have the original loan agreement stating that the cash loan for £6000 and the Premium loan (PPI) for £1428.73
Total Charge for credit APR 17.9 on the cash loan is £2890.20 and for PPI is £688.07 payments £148.17 + £35.28 total £183.45 paying back a Total of£11,007 over 60 months.
Here is were my confusion has started:tinysmile_cry_t: I had paid the loan back only early after 16 months ( took loan 22/01/04 - 05/05/05) In total I have paid them back £10,425.4 (this included the PPI refunded £808.01 as mentioned in their letter). Does the PPI refund I have received seem correct??? as it seem I only save £518.00 odd quid for paying my loan back a few years early.
Thankyou for taking ur time out to read this.
KnightRider
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