Black Horse refuse claim(say its not a matter for FOS)

[middenmess]

Hi Shirei12

 

Do you have your card statements?

[middenmess]

Your post at #7

 

Apparently its the date we took out the loan Aug 03 that was the problem. Its paid up as of May this year.

 

Your post at #71

 

Hi PF, Its not a loan agreement its a credit card,with monthly payments worked out by balance

 

 

For PPI on credit cards use..

 

Compound interest calculator!!!

 

Enter monthly PPI

12 rests

360 day year

Contractual interest at the rate they charge you today

Do it for every month and calculate until 14th October 2009 [time you've done it and they've choked on it,it will be mid October!]

Write it down with all dates and details [or use an ordinary spread sheet]

Add it all up.

 

Sit back,have a nice cup of tea and think of what might be!

[landy_alert]

Hi Shirei:)

 

Do you have the actual monthly PPI amounts ok?

 

What I have done with working out interest on a credit card PPI is take the actual monthly payment (the principal) and enter it in the Compound Interest calculator found at www.egalegal.com To do this you need to enter the principal and the interest rate, enter the date charged and today's date into the relevant boxes, change the 'number of rests per year' box to '12 compounded monthly' and tick the 360 day year box, then hit calculate.

 

You need to do this for each PPI payment you have made.

 

Enter these onto an A4 sheet.

 

Then you need to go to the Blake Lapthorn Simple Interest calculator which is found at www.bllaw.co.uk - PF gave a direct link to this earlier in your thread (post twenty eight I think).

 

For some strange reason I cannot do a direct link to the actual calculator here on your thread and it seems hard to locate it once you get to Blake Lapthorn's website:???:

 

Once at the Simple Interest stage you need to enter your totals from the previous calculation (ie, Principal + Compound Interest) and calculate at a rate of 8% from date charged to today's date. Again you have to do this for each PPI payment you have made.

 

The total amounts can then be typed onto a spreadsheet.

 

If all else fails I'm sure if you PM Pompeyfaith, he will help you further;)

 

Hope this helps somewhat!

 

Regards,

 

Landy x

[landy_alert]

Damn - crossed posts with Middenmess:D

[shirei12]

Sorry I seem to be confusing everyone I have merged two threads here:roll:

Its not Black Horse I need the spreadsheet for its for Lloyds on the legals

http://www.consumeractiongroup.co.uk/forum/legal-issues/194724-court-claim-lloyds-here.html

I need to send them a calculation of PPI payments I am counter claiming for before court hearing,maybe give them the frighteners . I have all the statements and have worked out compound + 8%. I just needed a neat way to show them how I have come to these figures,not just all noted down on A4 paper.

Does anyone have any suggestions.

Shirei

[middenmess]

Any spreadsheet is suitable.

 

I'm a total muppet when it comes to spreadsheets but I've used Windows Works and used Open Office.org from Sun Microsystems [free download and very good]

 

I made many mistakes:mad: but trial and error got there in the end! [and reading the help section a dozen times!!]

 

If you google around you will find some step by step instructions for using a spreadsheet.

 

For the £'s in thousands you are seeking I'm sure it's worth persevering.

[alanalana]

Hi PF, Its not a loan agreement its a credit card,with monthly payments worked out by balance :-|

 

You may have to refer to your statements to work out the monthly payments on PPI depending on how you used your card ie goods or cash but Pompeyfaith is the cagger up to speed on this.

 

aa

[shirei12]

Almost there:-D.Another question if I may. On the Blake Lapthorn Simple Interest Calc. it asks for annual apr,my statements are monthly rate. How do I go about working that one out???

Shirei

[alanalana]

Almost there:-D.Another question if I may. On the Blake Lapthorn Simple Interest Calc. it asks for annual apr,my statements are monthly rate. How do I go about working that one out???

Shirei

 

I am not sure whether you would divide by 12 or if there is another more accurate method of interest calculation.

 

aa

[middenmess]

Almost there:-D.Another question if I may. On the Blake Lapthorn Simple Interest Calc. it asks for annual apr,my statements are monthly rate. How do I go about working that one out???

Shirei

 

For PPI on credit cards use..this

 

Compound interest calculator!!!

just click on link

[shirei12]

Thanks aa & middenmess :)I have used that one for compound,I am doing 8% now but I dont have an APR only monthly rate of interest and not sure how to come to APR from monthly. Im thinking monthly interest x 12 ? or am I wrong(more than likely )

Shirei

[pompeyfaith]

The blake lapthorn calc you can use to work out the simple interest at 8% and the one posted above use that to work out the interest they charged you.

 

To work out monthly to yearly and visa versa go here

 

Interest Rates Guide: Everything you ever wanted to know!...

 

Regards

 

PF

[pompeyfaith]

What is the monthly rate ?

 

PF

[shirei12]

Hi PF, Present monthly rate is 1.204

Shirei

[shirei12]

I make that 15.44% APR am I right??

[pompeyfaith]

Ok here you go:

 

If your monthly interest is 1.204%, that means an annual rate of 15.44%

 

Regards

 

PF

[pompeyfaith]

You Got it bang on

 

Well Done

 

PF

[shirei12]

So I use that figure instead of 8% sorry if I am confusing everyone.OH sits on his *rse watching tv while I sort out the s*** and I am angry:evil:

[pompeyfaith]

Shirei,

 

You claim both the APR they charged you of 15.44% compounded and the 8% simple as the court would add this to any claim as it is the judicial rate used by the courts.

 

So take each payment in turn and add on 15.44% then take each payment again in turn with the 15.44% added on and add another 8% simple then total up and this will give you a grand total.

 

PF

[middenmess]

OH sits on his *rse watching tv while I sort out the s*** and I am angry:evil:

 

 

Solution.

 

 

Remove TV plug from socket and plug in OH.:grin:

[shirei12]

Solution.

 

 

Remove TV plug from socket and plug in OH.:grin:

 

:D

[shirei12]

Shirei,

 

You claim both the APR they charged you of 15.44% compounded and the 8% simple as the court would add this to any claim as it is the judicial rate used by the courts.

 

So take each payment in turn and add on 15.44% then take each payment again in turn with the 15.44% added on and add another 8% simple then total up and this will give you a grand total.

 

PF

Would the 15.44% be compounded annually on the calculator or by 12 monthly?

[pompeyfaith]

if you pay 12 times a yr compound by 12 PF

[shirei12]

Thats a whole load of money Need to get this done today,but I think Ive got it now;) Thanks PF,aa and mm much appreciated.

Shirei

[pompeyfaith]

your welcome PF