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Yet another PPI :D

A friend is in the process of claiming back PPI, the question is, should it include charges and interest that were also taken. Logic say's Yes, as these charges and interest would not have been charged if the Insurance wasn't there.
Almost Broke and if the b*gg*rs have their way, I will be. :(
£92,000 to go :eek:

Comments

  • dunstonh
    dunstonh Posts: 119,883 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    A friend is in the process of claiming back PPI, the question is, should it include charges and interest that were also taken. Logic say's Yes, as these charges and interest would not have been charged if the Insurance wasn't there.

    Virtually all refunds are made as goodwill gestures rather than an acceptance of liability. So, they normally will not consider other charges.

    Also, it would be very hard to prove that the small increased cost of the PPI in itself created other charges. You had other spending you did and they could have created the charges.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • dunstonh wrote: »
    Virtually all refunds are made as goodwill gestures rather than an acceptance of liability. So, they normally will not consider other charges.

    Also, it would be very hard to prove that the small increased cost of the PPI in itself created other charges. You had other spending you did and they could have created the charges.

    Thank you for the prompt reply, the reason I ask is, I believe the PPI was a percent of the balance each month, and it was the PPI that took the account over the limit, so charges were incured.
    Almost Broke and if the b*gg*rs have their way, I will be. :(
    £92,000 to go :eek:
  • dunstonh
    dunstonh Posts: 119,883 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Thank you for the prompt reply, the reason I ask is, I believe the PPI was a percent of the balance each month, and it was the PPI that took the account over the limit, so charges were incured.

    Did you make any other transactions in the month? Any one of those could have taken it over. That will be the counter argument.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Not as far as I am aware, I will ask them to bring there statements around.
    Almost Broke and if the b*gg*rs have their way, I will be. :(
    £92,000 to go :eek:
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