PPI Refund question

quisait

Hi folks

I've just had a letter today saying that I am going to get a full refund of my PPI plus interest.

Can I ask what am I looking to get back?

I took out a loan over 6 years. Over that 6 years I was going to be charged £2131.20 PPI plus interest of £414.00

I paid off the loan after three years.

Does that mean I can basically divide £2545.20 by 72 months to get £35.35 and then times this by 36 to arrive at my refund?

The wording is basically this "we have decided to pay you an amount which will put you back in the position you would have been in had you not taken the insurance".

I did phone them and ask what I would get but was told that another department deals with that.

When pushed further I was told that it would be a full refund of the premiums that I had paid.

Any advice is greatly and eagerly anticipated!

di3004

quisait wrote: »

Hi folks

I've just had a letter today saying that I am going to get a full refund of my PPI plus interest.

Can I ask what am I looking to get back?

I took out a loan over 6 years. Over that 6 years I was going to be charged £2131.20 PPI plus interest of £414.00

I paid off the loan after three years.

Does that mean I can basically divide £2545.20 by 72 months to get £35.35 and then times this by 36 to arrive at my refund?

The wording is basically this "we have decided to pay you an amount which will put you back in the position you would have been in had you not taken the insurance".

I did phone them and ask what I would get but was told that another department deals with that.

When pushed further I was told that it would be a full refund of the premiums that I had paid.

Any advice is greatly and eagerly anticipated!

Hi there hun and WOW, that's good news.;)

I was thinking it may be best to add this on the PPI Discussion/reclaim post, there you should receive some advice from here.;)

(Just click on the loan link and when that comes up, at the top of that page you will come across the mentioned site).

Well done anyway.:D :T .

Di.
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