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Re: lloyds PPI redress incorrect help please 
No - it's me being dumb, Chris. I was working from the totals at the top of your spreadsheet, as we don't generally have the time to check any further than this. Indeed, the 8% interest from account closure to refund date shows as zero in the spready - and this is because there is no final closing payment listed, and therefore the account remained in debit as far as the spready was aware - and therefore no 8% was added.
The way in which the account was closed makes a difference, but I have now assumed that it was closed on 09/09/09 with a final payment of £15601.53, reducing the balance to zero - and I have adusted the spready to show this. It now calculates the 8% interest on the £4426.73 which the account was 'notionally' in credit by. I am sorry I didn't spot this, and I think I will need to make it clear in the spready instructions that the closing date and closing balance must be entered.
So - what I now have is:
£3090.67 in PPI charges;
£ 274.00 in penalties;
£1062.06 in apportioned account interest;
£1468.76 in compensatory interest @ 8%.
Total claim = £5895.49 as at 29/08/13. Their offer is £1221.48 less than this - so I FINALLY agree that this should be questioned !!!
No - it's me being dumb, Chris. I was working from the totals at the top of your spreadsheet, as we don't generally have the time to check any further than this. Indeed, the 8% interest from account closure to refund date shows as zero in the spready - and this is because there is no final closing payment listed, and therefore the account remained in debit as far as the spready was aware - and therefore no 8% was added.
The way in which the account was closed makes a difference, but I have now assumed that it was closed on 09/09/09 with a final payment of £15601.53, reducing the balance to zero - and I have adusted the spready to show this. It now calculates the 8% interest on the £4426.73 which the account was 'notionally' in credit by. I am sorry I didn't spot this, and I think I will need to make it clear in the spready instructions that the closing date and closing balance must be entered.
So - what I now have is:
£3090.67 in PPI charges;
£ 274.00 in penalties;
£1062.06 in apportioned account interest;
£1468.76 in compensatory interest @ 8%.
Total claim = £5895.49 as at 29/08/13. Their offer is £1221.48 less than this - so I FINALLY agree that this should be questioned !!!
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