Cancellation Question

di3004

AndyD4483 wrote: »

Hey all, Good news!

I rcvd a letter today stating ' i have decided to pay you an ammount which will put you back in the position you would have been in had you not taken the insurance. This is done without admission of liability and in full and final settlement of your complaint...'

So a result in the end, but I do query the wording they have used. i would have expected them to say 'full ammount of the insurance' but it seems they have used different terminology. Does this mean that they are going to offer me less than the total insurance they charged do you think??

Andy

Hi Andy
Great news, well done and Congratulations.:beer::T:beer:

Looks good then, even though they do not accept liability of mis selling they are still putting you back in the position as if you did not have the PPI, so if this is a settled account they should refund you all your PPI and the interest as well, if the account is not settled they will refund you all you have paid etc and interest.

This maybe also useful for you, the link below shows on how the FOS calculates PPI refunds, check this out here:
http://forums.moneysavingexpert.com/showthread.html?t=1596473