The complainant would not have purchased a PPI policy at the outset. The credit card and the protection contract have ended

 

Mr Bob Smith

 

18th March 2011

 

I initially had Payment Protection Insurance on my credit card, however I would not have purchased the policy from the outset had I been informed of the details. I cancelled the credit card and PPI on 20th December 2001

 

Start date                     01/01/2001

Term of Loan/PPI         5 years (60 months)

Calculation End Date    20/12/2001

Settlement Date            18/03/2011

 

 

Date

Actual Balance

PPI

01/01/2001

-£500

£5.00

01/02/2001

-£600

£6.00

01/03/2001

-£200

£2.00

01/04/2001

£25

£0.00

01/05/2001

-£100

£1.00

01/06/2001

-£10,000

£100.00

01/07/2001

-£5000

£50.00

01/08/2001

-£4,000

£40.00

01/09/2001

-£3,000

£30.00

01/10/2001

-£50

£0.50

01/11/2001

-£500

£5.00

01/12/2001

-£500

£5.00

 

Interest on the account throughout the period was 20% p.a.

 

Yours faithfully

 

B Smith

Related Topics

PPI Scenarios
Initial Entry Screen
Common ‘Credit Card’ Adjustment Set
Verify and System Adjustment Generator Screens
SysPayInt Adjustment Set
Main Screen
Second Entry Screen
Comparison Screen - Interest Rollup
Comparison Screen - Interest Rollup
Comparison Screen - Summary