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Not happy with PPI refund amount
LD351520
Posts: 1 Newbie
Hi, bit of a long story but i was mis sold a PPI 4 1/2 years ago by barclays. The premium was just over £6000 and was added to my loan amount as a one off payment. This is due to mature in 5 months time. I was told I would get the premium back. I wrote to the bank claiming it was mis sold and wanted the premium back, the amount taking off my loan for the remainder of the loan term, interest payments and compensation. They have agreed that I was mis sold the PPI and have offered me the monthly premiums i have paid to date £2300, £450 interest and my loan returning to what it would have been if PPI was not taken out. This comes to just under £3000. However, i do not feel this is enough as I could continue paying my premium for another 5 months and then receive the cash premium of £6000 back as no payments have been missed. Am i just being greedy or should i push them for more? Confused but feel I have the upper hand as they have admitted mis selling it. 
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have offered me the monthly premiums i have paid to date £2300, £450 interest and my loan returning to what it would have been if PPI was not taken out.
This would indicate that your PPI was not an upfront payment but a monthly premium.
You say you have paid £6000 in PPI. Barclays say you have paid £2300. Which of you is correct?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.0
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