EMC Payment

chrisgr1962

Hi all,
Have now got confirmation from EMC about a successful claim but I'm not sure how the payment is made as it says the insurance premium goes into my bank account but the interest is paid in cash. I assumed they would just send a cheque but the letter seems to contradict itself somewhat. If anyone received a payment through EMC could you let me know how they do it.
Many thanks
Chris

robbedofmymoney

chrisgr1962 wrote: »

Hi all,
Have now got confirmation from EMC about a successful claim but I'm not sure how the payment is made as it says the insurance premium goes into my bank account but the interest is paid in cash. I assumed they would just send a cheque but the letter seems to contradict itself somewhat. If anyone received a payment through EMC could you let me know how they do it.
Many thanks
Chris

usually they would refund the premiums paid to the loan account, reducing the amount you owe if the loan is still active.
then pay you the 8% interest as a seperate payment.

if the loan has been paid off, they should send you a cheque for all of the refund and the interest.

hope this helps

well done on getting your money back
:beer: