Hi MrZ and ims21. Thanks v much for your assistance! Using the spreadsheet, I get £315.20 in the amount column, and £228.78 in the interest column. Added together gives £543.98. Do I then add any further interest at 8% on to that, or is £543.98 my final figure???

Thanks MrZ. Had a look at your thread - very interesting. I too have another 'battle' with Welcome Finance for a v. old PPI but that's another story..! Back to this, could someone have a quick look at this before I send off my letter. Want to make sure it's right and I've not misunderstood:roll: (wouldn't be the first time!): 1st PPI: worked out that £15.76 was the monthly PPI payment (£17.02 inc. 8% interest) paid for 21 months = £357.46 then add on 8% interest to £357.46 PER ANNUM for the amount of time I've been deprived of the money, i.e. 10 years =£643.42 Total of claim for 1st PPI 2nd PPI: worked out that £26.77 was the monthly PPI payment (£28.91 inc 8% interest) paid for 17 months = £491.47 + 8% interest for 8 years 3 months =£815.77 Total of claim for 2nd PPI

In the calculation, interest is charged at stat. 8% on each monthly PPI payment. Should this not be 14.9% as this is what the bank were charging me? Also, should the total figure (£357.46) then have stat. interest at 8% applied per annum since the loan was settled, to the present date (8 years) as this is the length of time you have been deprived of the money?

Morning everyone. That calculation is applying the interest at 8% for the duration of the loan only, (36 months but settled at 21 months) - havinastella was treating the interest on the payments made up to today's date, is that right? Because that makes a huge difference, and in effect you have been deprived of the money for that amount of time?

Hi Dx - The first loan was for £3000 in May 2001. The PPi was £461.57. The APR was 14.9%. The loan was settled in Feb 2003 and a rebate of £83.17 on the PPI was given. The second loan was for £4000 in Feb 2003. The PPI was £934.75. The APR was 14.9%. The loan was settled in July 2004 and a rebate of £483.21 on the PPI was given. Can anyone tell me the right amount to reclaim? I don't know the interest rate of the loan, only the APR.

OMG it does make this a much more sizeable claim...! Will the banks refund PPI as per this or do you have to actually go the court route... I'll post back if I'm still rubbish at working this out! Thanks everyone who posted some advice, this site is a lifeline. Speak later!

Hi DX - no I don't know what the PPI was per month, it was a single premium added on to the loan(s) - presumably I take the amount of PPI and divide it by the number of months the loan was to run for... to find the monthly figure???

Hi - thanks DX. I've added the interest at 14.9% to both PPIs, for the length of time that they were in force - (21 months and 19 months respectively). My question is, then do I add 8% interest to each PPI per annum from the date the loans were settled up to today's date? Or from the date the loans were taken out, or is the 8% added once only to the total ?

Thanks Rebel! I'm still not sure if I'm working this out properly. Thought I had, and now I think not! My first PPI was in May 2001, for £461.57 over 36 months. It was cancelled (loan paid off) in February 2003 and a refund of £83.17 given. Leaving PPI of £378.40 to reclaim. The second was Feb 2003, PPI of £934.75 over 60 months. Cancelled July 2004 (loan paid off) and a refund of £483.21 given. Leaving PPI of £451.54 to reclaim. Both loans were at 14.9% APR. Am I right in thinking that the first PPI the interest (14.9%) is only for approx 21 months, then the second PPI the interest (14.9%) is for 17 months, then add 8% interest on to the whole lot? I'm really sorry if this doesn't make any sense!!!

Sorry for being a bit dense but I've read quite a few posts now, and am still not sure how to calculate the interest on my 2 PPI claims (from the same bank) I've got one claim for £378 (2001) and one at £451 (2003) add them both together? plus compound interest (the APR at the time was 14.9%- do I add this per year that the PPI was in force?) plus 8% ???? Apologies everyone but I'm struggling getting my head round the right way to do this! Any advice, greatly appreciated.

thank you citizen B - that's what I thought! A lot of what you hear in the media etc. is about claiming for the last 6 years only. Just wanted to be sure before I start on RBS! Thanks for replying x:)

:?:Hi everyone - just need to check something before I set off with RBS Credit Card charges. My card charges, incurred 2001/2002 became a CCJ in 2003. Can I still claim these back? Am I right in thinking that you have 6 years from the date that you became aware the charges were unlawful? (OFT report 06) Not 6 years from the date that the charges were imposed... Be grateful for anyone's advice. Also, is possible to get a CCJ removed from your credit file? onevodka

Hi - been some time since I've posted on here. Successfully retrieved all my charges back with Abbey last year, then spent MONTHS trying to get all my statements back off Halifax. Finally, they coughed up - going way back in to the 80's. However! Just as they did that, everything changed with the OFT test case etc. and I shelved the whole thing. What I'm asking is, is anyone out there still pursuing a pre-6 year claim? Has anyone had any joy with this particular type of claim? Is it worth going through the whole procedure, as if it were a bog standard claim, whilst this test case is still dragging on? I'd be very grateful for anyone's thoughts! Halifax still owe me a shedload of money, and having recently been made redundant I am tempted to continue what I started last year... Just wondered if anyone out there was also still contemplating it... onevodka

thanks IR2365 - I got a parachute account elsewhere when I first started doing battle with abbey last january - but I'm not really using it much because I've still got a big overdaft with abbey. They cut that in half in november as 'payback' no doubt for having to settle my case and pay up. I dont want them to demand the other half back as well - so I feel a bit trapped with them, at least until I clear my remaining overdraft. I'm pretty sure my name now comes up in big neon letters whenever I ring abbey: "do not be the slightest bit helpful to this person" anyone else noticing this, after abbey were forced to payback charges? or am I just a bit paranoid?!

anyone else out there as outraged as me with abbey's latest manoeuvres?! Last couple of months I've incurred a charge for going over my agreed overdaft, which was because they couldn't take their previous charges on the day they wanted! For example, penalty charges due to go out of account on 1st of the month, insufficient money available to pay them until the day after (the 2nd ) so they charge you AGAIN because they couldn't take their charges!!! So now you get a charge for having incurred a charge! Bloody hell, they could have bankrupted me years ago! Am absolutely incensed with abbey - of course they wont cancel any more charges for me because they had to pay me loads back last spring. Absolute robbing swines.