Where's my 8%?

ktoc8

Hi there new to the forum but not new to the rat-race.

I'm chasing a PPI reclaim through First Response and they have got back to me with a breakdown of what I'm entitled to. I say breakdown but it is the simplest statement I've ever seen. Apart from charges applied to the premium the only information about the amount I'm entitled to looks like this:

"The PPI premium + finance charge = £1002.56"

There's no mention of what the 'finance charge' is or any breakdown of where my 8% interest or refund of interest applied to the account because of PPI come in. Am I to just assume that they've added the necessaries in or am I entitled to a proper breakdown. Having contacted them I got "That's the standard letter everyone gets and we never have any problems." "That’s what the accountants give us so I can't give you anymore".

Anyone had any similar experiences? Is it likely they are trying to skirt paying the full amount?

Kevin

amersall

If this was a loan the interest is included in the ppi monthly payment, give FOS a ring and ask about the 8%, if they say you should have this then contact the company back and tell them this.
Was this a full redress or a goodwill gesture?.