Amount of interest to ask for when relclaiming ppi

loopylou6

Im just writing my letter to Santander to reclaim account cover that i have been paying for many years.

Firstly i dont know exactly when i took out the card i know it was around 2004/2005 does this matter? I have paperwork back to 2005 but i threw away the ones before that last year.

And secondly should i ask for interest to be added on at the contractual rate of 29.9% or just the 8% a court would award? or is that 8% on top of the 29.9%?

would be really grateful if somebody could help me please.

di3004

loopylou6 wrote: »

Im just writing my letter to Santander to reclaim account cover that i have been paying for many years.

Firstly i dont know exactly when i took out the card i know it was around 2004/2005 does this matter? I have paperwork back to 2005 but i threw away the ones before that last year.

And secondly should i ask for interest to be added on at the contractual rate of 29.9% or just the 8% a court would award? or is that 8% on top of the 29.9%?

would be really grateful if somebody could help me please.

Hi there

That is fine, one of mine was from 2001 and was successful although through the FOS.

Just as long as you have the account number then that is fine because you will as you know have to write the account number on your reclaiming letter, and as usual they have 8 weeks in full.

The templates on how to request for your money should be on the templates in the link below....
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
If successful they would have to pay you ALL you have paid in PPI, the interest, also the 8% is normally awarded by the courts for being deprived of your money, so write that as well, as shown in the templates to give you some idea.;)

Good luck, please keep us posted.

finatra26

Hi Loopy lou - they should give you back the contractural interest plus 8% but this will not be compound