Barclays ppi

Same_ole

Hi I recently got a response back from Barclays with regards my ppi and I was wondering if it's correct .any help would be appreciated
Ppi premiums £1300
Interest £1100
8% compensation £50

Now I think the 8 % compensation interest isn't right

Secondly I had a loan with ppi on it and refinanced with a loan without ppi the ppi loan was running for about a year and I recieved payment back for that ppi for that year. And as it was all a part of a refinancing chain does that sound right?



Thanks in advance

dunstonh

Have you rounded those figures?
Is that how it is worded as it looks like the 8% interest would be the £1100 figure and a £50 has been added as compensation/goodwill. The requirement is a refund of premiums plus interest (minus rebates and/or amounts paid out on a claim).

Secondly I had a loan with ppi on it and refinanced with a loan without ppi the ppi loan was running for about a year and I recieved payment back for that ppi for that year. And as it was all a part of a refinancing chain does that sound right?

It is normal for loans cleared early to have the PPI rebated in a relatively pro-rata basis.

Same_ole

How it was laid out was as posted above give or take a couple of quid

And the 50 pound was defiantly the 8% interest

Premiums paid 1300

Interest 1100

8% compensation interest 50

-taff

was it credit card PPI?

Same_ole

Yes it was on a barclacard

-taff

the 8% on credit cards is only paid if the account would have been in credit at any time without the PPI being paid.

Looks like yours wouldn't have been