PPI Claim - Advice Required

blondy24

Afternoon,

I applied to reclaim PPI on my personal loan in May and have received a letter today stating that I would be offered a refund on all the PPI premiums paid (inc of interest) plus simple interest at 8%. Is this a good deal? Does anyone get more back e.g. as compensation?

The PPI loan amount was £1,184.07 and the payments were £37.43 over 36 mths (interest was 8.9%). The personal loan was paid off over a year ago. Is my calculations of £1455.28 about the amount I should receive?

Thanks for all your help and advice x

di3004

blondy24 wrote: »

Afternoon,

I applied to reclaim PPI on my personal loan in May and have received a letter today stating that I would be offered a refund on all the PPI premiums paid (inc of interest) plus simple interest at 8%. Is this a good deal? Does anyone get more back e.g. as compensation?

The PPI loan amount was £1,184.07 and the payments were £37.43 over 36 mths (interest was 8.9%). The personal loan was paid off over a year ago. Is my calculations of £1455.28 about the amount I should receive?

Thanks for all your help and advice x

Hi there

And well done to you!:beer:

Yes that is a good deal and as far as it goes, this is worded the same as if it were upheld.

I am not the one for calculations, but I'm sure someone will be along throughout the day and check them out for you.;)

blondy24

As per the other post they have not put in the amounts due or the PPI loan to begin with the second paragraph onwards is my workings out, could be wrong though....

Thanks for the positivity, it is good to receive a letter

dunstonh

Is this a good deal?

Its the required method.

Does anyone get more back e.g. as compensation?

not normally as the point is to put you in the position you were had you not taken it out.