Tweet
Hi folks, I used to be on here and used LB successfully to fight a parking invoice. Couldn't remember details so re registered.
Hope someone can help. I only have 7 more days to reply and accept or not now as been trying to work it out and decide this week. Posted in a sub forum but moved up here as thought may get more replies.
I had a few credit cards from 2000 to 2012/3. In October 2013 engaged Stepchange to freeze the interest on the overdrafts and cards as years of self employment and agency work and a couple of ops took it's toll.
I paid everything off in October 2016. The total figure I owed was frightening.
I have since received back £700 on a consolidation loan from Natwest I didn't know I had using ismart for the donkey work then applied myself. The figure seemed fair.
The other one they found was the Co Op credit card.
I took out in December 2002.
The balance of my card was between £3000 to £5000
over let's assume 10 years rather than the full period of 2002 to 2016 as of course the balance of £3000 probably did not grow until 2 years in at least.
So between 2004 to 2013 the average balance was around say £4000 for ease of estimating.
The Co Op confirmed I did have PPi.
The balance the Co Op calculated that I was owed PPi up to July 2016 though card stopped 3 years earlier and not used and interest was frozen in 2013.
Now all the online calculators I've found don't all add up giving vastly different amounts - but I can't make sense of their (the Co Op's figures either).
Some late payment charges included and then some other figures.
Now if most sites list PPi on cards to be 1% of balance plus 20% at end of year I'm confused.
Is the 1% every month or at year end?
If it is annually then this still seems like a very lowball offer. If it's say £30 per year as 1% of 3000 then over 10 to 12 years it surely is more than this? My balance was rarely if ever below £3k and stayed at max limit of £5K for years.
The breakdown is below and it just seems very low compared to other people's I've read.
Can anybody help please?
- I have some statements but not lots having moved I got rid of a lot of paper. This is the only breakdown I got from them.
the figure above is from refunded late payment charges I believe.
The other costings are below.
Hope someone can help. I only have 7 more days to reply and accept or not now as been trying to work it out and decide this week. Posted in a sub forum but moved up here as thought may get more replies.
I had a few credit cards from 2000 to 2012/3. In October 2013 engaged Stepchange to freeze the interest on the overdrafts and cards as years of self employment and agency work and a couple of ops took it's toll.
I paid everything off in October 2016. The total figure I owed was frightening.
I have since received back £700 on a consolidation loan from Natwest I didn't know I had using ismart for the donkey work then applied myself. The figure seemed fair.
The other one they found was the Co Op credit card.
I took out in December 2002.
The balance of my card was between £3000 to £5000
over let's assume 10 years rather than the full period of 2002 to 2016 as of course the balance of £3000 probably did not grow until 2 years in at least.
So between 2004 to 2013 the average balance was around say £4000 for ease of estimating.
The Co Op confirmed I did have PPi.
The balance the Co Op calculated that I was owed PPi up to July 2016 though card stopped 3 years earlier and not used and interest was frozen in 2013.
Now all the online calculators I've found don't all add up giving vastly different amounts - but I can't make sense of their (the Co Op's figures either).
Some late payment charges included and then some other figures.
Now if most sites list PPi on cards to be 1% of balance plus 20% at end of year I'm confused.
Is the 1% every month or at year end?
If it is annually then this still seems like a very lowball offer. If it's say £30 per year as 1% of 3000 then over 10 to 12 years it surely is more than this? My balance was rarely if ever below £3k and stayed at max limit of £5K for years.
The breakdown is below and it just seems very low compared to other people's I've read.
Can anybody help please?
- I have some statements but not lots having moved I got rid of a lot of paper. This is the only breakdown I got from them.
| refund of charges | £68.00 |
| debit interest | £9.54 |
| 8% simple interest | £21.44 |
| Total | £98.98 |
The other costings are below.
| Total CCPPi accrued to 14-Jul-16 | £92.37 |
| CC Interest accrued to on above to 14-Jul-16 | £12.85 |
| 8% Interest on any notional credit card balances | £48.81 |
| Closed without arrears | Yes |
| Post Closure Balance liable for 8% £105.02 | |
| Post Closure Interest @ 8% simple to 05-Mar-17 | |
| Total Redress Due | £159.21 |
| Total Untaxed 8% Interest payment £54.19 | |
| Less Tax Calculated | -£10.83 |
| net total 8% £43.36 | |
| Net Redress Payable | £148.38 |
