Thanks you and dx100 have been brill!!!.

just a point of clarification before I start...in the figures below...to take an example...

Original Loan 1

Date Funds Issued -14.02.01

No signature in PPI box

Amount of Loan -£5000

Repayment Period -36 months/3yrs

Total Charge for Credit for cash loan-£1,229.08

Total amount you pay for cash loan-£6,229.08

INSURANCE LOAN(cash price of insurance)-£788.62

Total charge for credit for insurance loan-£193.82

Total Amount you pay for Insurance Loan-£982.44

Repayments at 36 monthly intervals of total loan and interest of-£202.32

APR-15.9% FIXED

Insurance Premium Tax-£33.67

Monthly Interest Rate-1.240%

TOTAL LOAN-£5,788.62

Total Charge for credit for TOTAL LOAN(total charge for credit)-£1,422.90

TOTAL AMOUNT YOU PAY-£7,211.52

STATE OF ACCOUNT-REPAID EARLY

BALANCE-NIL at-05.03.02

SETTLEMENT DATE-14.03.02

Question-is ppi still running because loan was paid off early...also is there any rebate for this loan.

Why is figure divided into NOT the sum of..

INSURANCE LOAN(cash price of insurance)-£788.62

Total charge for credit for insurance loan-£193.82..BUT only...£788.62(cash price)...

£982.44/£5982.44x100

i,e instead of 788.62/5788.62x100 ......788.62+193.82/5788.62+193.82 and then multiplied by 100

thank you

Good Morning jdes26...'multiple litigations....please rationalise..'

to me its the same old stuff...'mulitple out of court settlements'

Can someone explain exactly why the smileys are so happy....I thought that nothing was leaked...whats going on and why so much happiness...we have not won ANYTHING yet!!!

thanks ims for all your help...I now have an understanding in my mind of THAT proportion of ppi to be calculated and 'distilled'' from loans 2 and 3 and the 'rolled' over...i.e that percentage of the total loan expressed as a figure...NOT the repayment figures as they are...

This can ALL be done on the same spreadsheet....indeed it SHOULD be..the only thing to watch out for is the proportion of PPI in that settlement figure to 'rollover'(ADD to) the proportion 'distllled' from Loan 2...and so on...GOT IT!!!

I shall now read Amanda's thread again because I will now understand the principle and actually see it in motion..

The penny appears to have dropped...

Many thanks for your patience..

ah yes...the percentage of PPi of the settlement figure will be ADDED to the PPI for loan 2 and then repeat process...ie find out what percentage/fraction ppi is of total loan 2....correct?

Got it...I take the proportion of PPI as a fraction/percentage of THAT loan and just work it downwards alongside it's respective debit dates.....the ONLY thing that changes is the percentage of THAT loan and then collect as a running total....is that correct?

I looked at spreadsheet ....i think i am thinking too much...no need to

a..ok....so for

loan 1-£5000,... there are

12 re-payments of £200.32

1 re-payment of £3,844.15

1re-payment of £343.59

Loan2..£10,000...there are

23 re-payments of £244.21

1 re-payment of £7,362.26

1 re-payment of £721.12

Loan3.£15,000...there are

9 re-payments of £366.34

1 re-payment of £14,110.04

1 re-payment of £2,107.47

The above figures are input in order across the row and separately down each column...but where do the APR's figure especially when loan 1 is at 15.9%...loan 2 at 8.9% and loan 3 at 7.5%....and how do you do the 'rollover'

Right so I just put into the date of charge....the date that money was debited from his aCCOUNT.....IN THE AMOUNT OF CHARGE THE ACTUAL FIGURE AND DO THIS FOR LOAN 1 until REPAID...THEN IN THE SAME SPREAD SHHET FOR LOAN 2 AND 3 AND JUST ADD THE TOTALS IS THAT CORRECT

okay do I need to find out what % of the total loan the ppi repayment was OR do I just put in the APR at 15.9% where it states APR:|

Wonderful...thank you ims...shall get onto it now:razz:

The method that amanda used will be different from me wont it...I HAVE all the information which spreadsheet is used and do I just calculate separately for each and then JUST total up the final figures

Thanks ims...

You need to know whether the funds from a later loan were used to repay a previous one.

 

Loan 1 balance reduced to nil on 5/3/02 which was the same date that loan 2 was made available. Same for loan 2 & 3.

 

If the funds to clear the loans didn't come from the later loans, where did the funds come from? If they cam from another lender then you won't have rollover/consolidation.

Aha!!!!!!...

I have just spoken with the debtor on whose behalf I am working this out for and he said that loan 3 was used to reduce loan 2 and loan 2 to reduce loan 1...and that the PPI was 'rolled over'...will that help.

My head is getting cloudy...I am going to get some fresh air for a while but back online this evening with clear mind..

Thank you both for your efforts as it is much appreciated:wave:

Would the above in POST #81 fall into..

.My loan included Single Premium PPI and I paid the loan off early with a lump sum payment. I didn’t get any rebate on the PPI.....

or....

I had a loan which included a Single Premium PPI. It was initially an 8 year loan. After 6 years I took out another loan which gave me some cash in my pocket and also paid off the balance on my previous loan. The second loan also had PPI included and the term of this new loan was 10 years. What do I claim?

Or...some other category mentioned on ims signature page for single premium policy read here

so how was each loan settled then?

can you remember?

 

dx

Yes I understand now...I have had another look at the statements and on each 3 loans they were settled with a lump sum on the balance nil dates as mentioned above in post #81

the 1st for approx £3844 on 05.03.02

the 2nd for approx£7,360 on 13.02.04

the 3rd for approx £14,000 and £2,000 on 07.02.05 and 10.02.05 respectively

Thank you

OR are you saying it is immaterial that the PREVIOUS BALANCE was NIL when NEW FUNDS are issued...that it is STILL a ROLLOVER?

Thnks

I am just looking that when NEW FUNDS are issued.it is at a time when the previous balance is NIL..so I am assuming that the CONSOLIDATION is NOT for the previous loan (naturally...but some OTHER lenders loan)...

According to the figures above in post #81 does it look as though the balance of the previous loan is reduced to nil...so that the next consolidating loan is not for repaying off previous loan...I am sorry to sound simplistic but that 's what I seem to understand from the Transaction Record...unless my reasoning is wrong...

How do you read the above post #81 dx100uk?

According to transaction statements....every month by 'DDR1' on at least the minimal monthly repayment on that specific date down to hil and the odd huge IDX payment method for each loan

Sorry I am a little confuses as to 'how'.....do you mean by cheque ...credit card..etc?

thanks

Right thank you very much...I can safely assume then that in relation to the facts/figures....the 2 and 3ed loans were NOT used to pay off any EXISTING HALIFAX loans as the facts/figures show previous accounts were ALREADY settled and balance was NIL....they may have been used to 'consolidate' other debts with other lenders/store cards/credit cards etc...but NOT with Halifax...with that in mind....therefore, shall I treat these 3 loans as separate distinct unsecured loans with their asscociated PPI's...and if so which spreadsheet applies and wil it be just a method of straight forward posting and totalling of all 3 separate TOTAL figures from the spreadsheet ?

There appears to be no rebates in the transaction sheets for any of them...so I shall assume none was given when calculation is made...

Is the above reasoning correct/reasonable?

Thank you ims:-)

Good morning ims21

ok its all working now in post 81 above...

Original Loan-Consolidation2and3.doc

Good Morning ims...ok here is the detailed information...what i need really is to be able to distinguish whether tyhey are in fact and in substance 3 separate loans in which case I shall just post to appropriate spreadsheet and simply aggregate the three totals...OR is there something more to this?

Original Loan 1

Date Funds Issued -14.02.01

No Signature in PPI box

Amount of Loan -£5000

Repayment Period -36 months/3yrs

Total Charge for Credit for cash loan-£1,229.08

Total amount you pay for cash loan-£6,229.08

INSURANCE LOAN(cash price of insurance)-£788.62

Total charge for credit for insurance loan-£193.82

Total Amount you pay for Insurance Loan-£982.44

Repayments at 36 monthly intervals of total loan and interest of-£202.32

APR-15.9% FIXED

Insurance Premium Tax-£33.67

Monthly Interest Rate-1.240%

TOTAL LOAN-£5,788.62

Total Charge for credit for TOTAL LOAN(total charge for credit)-£1,422.90

TOTAL AMOUNT YOU PAY-£7,211.52

STATE OF ACCOUNT-REPAID EARLY

BALANCE-NIL at-05.03.02

SETTLEMENT DATE-14.03.02

Question-is ppi still running because loan was paid off early...also is there any rebate for this loan.

Consolidation Loan 2

Date Funds Issued -05.03.02

Amount of Loan -£10,000

Repayment Period -60 months/5years

Total Charge for Credit for cash loan-£2,336.60

Total amount you pay for cash loan-£12,336.60

INSURANCE LOAN(cash price of insurance)-£1,877.56

Total charge for credit for insurance loan-£438.44

Total Amount you pay for Insurance Loan-£2,316.00

Repayments at 60 monthly intervals of total loan and interest of-£244.21

APR-8.9% FIXED

Insurance Premium Tax-£80.16

Monthly Interest Rate-0.716%

TOTAL LOAN-£11,877.56

Total Charge for credit for TOTAL LOAN(total charge for credit)-£2,775.04

TOTAL AMOUNT YOU PAY-£14,652.60

STATE OF ACCOUNT-REPAID EARLY

BALANCE-NIL at-13.02.04

DATE CANCELLED-13.02.04

Question-is ppi still running because loan was paid off early...also is there any rebate for this loan.

Consolidation Loan 3

Date Funds Issued -13.02.04

Amount of Loan -£15,000

Repayment Period -60 months/5years

Total Charge for Credit for cash loan-£3,166.20

Total amount you pay for cash loan-£18,166.20

INSURANCE LOAN(cash price of insurance)-£3,149.63

Total charge for credit for insurance loan-£664.57

Total Amount you pay for Insurance Loan-£3,814.20

Repayments at 60 monthly intervals of total loan and interest of-£366.47

APR-7.5-FIXED

Insurance Premium Tax-£134.47

Monthly Interest Rate-0.608%

TOTAL LOAN-£18,149.63

Total Charge for credit for TOTAL LOAN(total charge for credit)-£3,830.77

TOTAL AMOUNT YOU PAY-£21,980.40

STATE OF ACCOUNT-REPAID EARLY

BALANCE-NIL at-10.02.05

DATE CANCELLED-01.02.05

Question-is ppi still running because loan was paid off early...also is there any rebate for this loan.

Question-ARE THESE LOANS in essence just 3 SEPARATE LOANS

Question-How do i know if any rebates are due for all the above?