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Should I accept my PPI offer from Canada Square Operations
Helen84l
Posts: 1 Newbie
I had a credit card some years aglow with Egg - had a letter a couple of weeks ago with a form advising me I had taken out PPI and would I like to claim it - I filled out the form and have had an offer back today as follows:
a) Total PPI premiums you have paid - £921.55
b) Plus interest on premiums paid - £22.89
c) Plus 8% interest £135.73
Subtotal - £1080.17
d) Less any previous rebate paid - £730.12
Total amount of compensation - £350.05
I can't understand why we have had a deduction of £730.12 the explanation in the letter states
This is previous rebates paid to your loan as a result of your PPI being cancelled or would have been included as part of the settlement figure on early closure of your accounts
But this was a credit card not a loan and we paid it off via monthly instalments and when the balance was 0.00 we just cut the cards up and did not use them again so effectively did not settle early - I am confused but not sure if I am being dim - any advise would be really appreciated.
a) Total PPI premiums you have paid - £921.55
b) Plus interest on premiums paid - £22.89
c) Plus 8% interest £135.73
Subtotal - £1080.17
d) Less any previous rebate paid - £730.12
Total amount of compensation - £350.05
I can't understand why we have had a deduction of £730.12 the explanation in the letter states
This is previous rebates paid to your loan as a result of your PPI being cancelled or would have been included as part of the settlement figure on early closure of your accounts
But this was a credit card not a loan and we paid it off via monthly instalments and when the balance was 0.00 we just cut the cards up and did not use them again so effectively did not settle early - I am confused but not sure if I am being dim - any advise would be really appreciated.
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Comments
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Get back in touch and tell them it was a CC not a loan.
As k them where the reduction came in....Non me fac calcitrare tuum culi0 -
Or is it a loan they found and the CC still has to be redressed? stranger things have happened
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