Got PPI too easy

isabela79

We went to a bank to ask for lower interest in our loan,we got that loan for more than 8 years,our bank account is very poor so after long talk the advicer made a new loan with lower interest .He also check that we have a PPI and can get it back ,what was strange that he came up with a round value of 500£ without even checking all those years.I feel that this is wrong.Is it?

McKneff

Ask them for a written statement as to how he came to that figure.
Dont just take his word for it.

isabela79

We went to the branch to deal with smth else and with no knowlage about PPI and now we do feel dumb.Tnx for advice I'm thinking the same.

coxy1072

It sounds as though they are trying to fob you off with a set figure given by head office, i would definitely chase this up, you could be owed a lot more, put the claim in yourself using the advice given on here. Many of the banks have been hit hard and by offering smaller payouts they are saving more money in the long run which no doubt they will try and get back through increased account fees and charges. Good luck.

somethingcorporate

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Do it yourself and don't rely on their figure, it sounds like you are being fobbed off with a round number.