PPI calculation

[chilly]

is there any way to calculate how much ppi i will have paid on a loan? i had two loans from nat west in the early 90s totalling £4500. i was young and daft and will probably have agreed to ppi on my loans. the halifax have just sent me a cheque for £1400 so nat west are in for it next

[ddtwelve]

just remember its money you thought you never had be grateful im waiting to see mine come,
 
how long did it take??

[flesh]

Phone them and they will probably tell you. There is a bit audit at the moment for PPI payments that lenders are chekcing to make sure they are squeeky clean about how much they have paid....in other words if they have not paid you enough and it is found out by the FSA they will be stuffed.
Most lenders are climibing over themselves to pay you enough. 

[Lawrence]

If they won't tell you, you can issue them with an SAR (statuary access request?) which means they need to send copies of every bit of data they hold on you.  Costs £10 but worth it if you can get it back.  I did mine last year and got back over £1800 - I only claimed £1700 ish but they added interest on for me without asking 

[chilly]

they dragged their feet a bit sending the cheque saying they would wait i think it was six weeks then send the cheque if they didnt hear from us

[stealth2012]

PPI isn't all bad.  A close relative of mine bought a brand caravan a few years ago and took the PPI.  He had a mild heart attack around a year later (1 year into the 10 year agreement) and the PPI payed off the rest of the finance!
 
Although I guess he would rather have had the finance than the heart attack......

[pitternator]

I aint bought PPI , but I did claim on  a gap insurance once, and that paid out £1800 !... after a crash which wiped out my recently bought  newbike, and that was the difference between settlement and  a new bike cost....
from there I went on to buy my first new Fazer 1000 in 2001.....and the rest is history...so yes , insurance policies aint all bad.

[bigralphie]

PPI is a good product but it is useless to lots of people, self employed, people with long term medical conditions ,people with other insurance products already in place etc.
I was sold it despite checking that renal problems would not affect my claim ,they told me not as I has I was not being actively treated for the condition at the time.......bare face lie , I could never of claimed on the policy hence ....missold and I was repaid all my payments plus interest
 

[stealth2012]

My relative was employed when taking out the policy, but then went self employed.  However, the policy stated that whilst self employed, it didn't cover for unemployment, sickness etc, but it did still cover death and critical illness.  He didn't have any other critical illness policies, so it was a godsend.  He was paying around £14 a month for the PPI element, so had only paid around £168 when it then coughed up nine years worth of finance which was around 12k.