What the.... Just received a cheque for £1582.82???

pnq06

Sorry hun, Just re-read my post and it didn't make any sense to me so you did well to answer that!!!

What I wanted them to explain was, why they are refunding me money when they said they don't give money back but instead take it off the loan (as I still can't work out wether to clear some of the loan or other debts) and secondly the amount they have refunded me seems really low....
Would they work it out in simple terms like-
72 months left of the loan x monthly PPI payments = £xxxx

I phoned them this afternoon after giving them the morning to ring me and apparently the accounts team don't work on weekends so it will be tuesday before I get to speak to anyone :rolleyes:

Emmzi

1. They wanted to put you off but actually taking it off the loan is extra work so they've done the easy/ lazy thing

2. PPI higher at start of loan as risk bigger, PPI premium reduces as you go along and risk reduces (less money owed) so you get back much less than you would think.

I think you'd be best asking for your answers in writng. less confusing

pnq06

Tar very much for that Emmzi :beer: I'm understanding it now (finally :rotfl: ). I'm going to bank the cheque on Tuesday and decide what to do with it :j