Black horse ppi help

[kgrant]

I have successfully claimed back 3 lots of ppi from black horse already,

and now we are on with the final one,

 

we still have an outstanding balance with this particular loan (not sure how much all arrears though)

and after they took us to court we got them to cancel the ppi but they never refunded it .

 

then earlier on this year they sent us a ppi misselling questionnaire

so we filled it out and sent it back and yesterday got the response and it makes no sense to me at all .

 

this is what it says

 

 

there offer is £171.17

 

this is the calculations

 

refund of premiums £655.08

excess balance and interest £99.27

less previously accepted claim -£0.00

less partial refund of PPI already applied -£164.90

less arrears on loan -£4083.80

SUB TOTAL £0.00

interest at 8%, calculated up until 15 july 2013 £238.62

less tax at 20% from 8% interest -£47.72

TOTAL £190.90

 

then it says "Please note that as you received a redress of £89.37 for agreement ******* on 14/07/211, this amount will be taken off the total above and your total redress payment will be £171.17

 

could someone please explain what all that means because I cant see where they get £171.17 from and I don't understand the calculations at all I have trie to work it all out but failed miserably

[ims21]

Have you got a copy of the agreement and a record of the payments made against the loan?

[kgrant]

no but I know that the monthly loan payment was £183 ,£78 was for the ppi and we made about 8 payments altogether before we cancelled it

[ims21]

Ok well those 8 payments of £78 comes close to their £655.

 

It seems they are going to set off the redress against the loan account apart from the 8% interest element.

 

So the 8% is £238.62 less the tax they are holding back of £47.72 which indeed does come to £190.90. I can't see where the £19.73 difference comes from to get the £171 though.

 

I think you will need more detail from the lender before you can be sure of what has gone on.