Capital One PPI calculation

[23booker]

Hi Guys,
Brand new to this site today and am looking for your help.....
Have read lots of the forums regarding a calculation of credit card PPI refunds.
My situation is a little different. Currently have four claims in with the FOS through a solicitor (as they were all originally refused by the banks). Three have been upheld which is great news, but one of the claims was messed up by the solicitors (by their own admittance), and they have offered to pay me what I would have been due.
This is obviously wonderful news, but looking at their offer when compared to my other upheld claims, the amount they are offering seems incredibly low.
Is there anyway somebody here can help?
I have the spreadsheet from them listing all the PPI payments, then the amount of interest they feel is due per month, but have no idea how this has been calculated. It's not that I don't trust them, but I don't trust them!!
I know this subject has been covered in many formats over the past few years, and I apologise if this is becoming somewhat tedious.
Thanks very much in anticipation of your help.
23booker

[di30]

Re: Capital One PPI calculation

Hi and welcome

I am not actually the one for the calculation side of things, but by all means I dont mind taking a look, meanwhile whilst bumping up your thread, someone will be along very soon.

Well done on your success! :tinysmile_twink_t2:

[23booker]

Re: Capital One PPI calculation

Hey how you doing?
Thanks so much for taking the time to reply, very much appreciated.
I have attached the spreadsheet the solicitors sent me.
It basically lists the PPI payments made, their view of interest owed and total due.
My concerns are about the listed 8% interest rate at the top.....is this compound interest? Do I also get interest at credit card rate?
There is a huge swing in the amount of interest owed as we go down the list, it starts off as a high proportion of the PPI payment, but then whittles down to virtually nothing.
The card is still active today, with a decent balance (£4k ish). I presume they owe me interest up to today's date, and the 8% per year on top of this?
My last two claims which paid both paid had interest in excess of the premiums, plus 8% per year (i.e. £8700 premiums, £12,500 interest, £2500 8%). This one just doesn't make sense to me, the interest is always approximately 100-150% of the premiums paid.
Not trying to be greedy, just want to see a wrong put right, especially considering how much I have paid these guys for the last few successful claims.
As mentioned, I cannot thank you enough for even looking at this......just don't know where to turn for help.
Let me know what you think.
A