We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Credit card PPI

Evans
Posts: 6 Forumite
I had a reply from my PPI claim on my MONUMENT credit card. They have supplied the following numbers which I don't understand. Can somebody tell me how much I will be getting please. The letter states -
"Without admission of liability, and as a gesture of goodwill, we are prepared to adjust your account with the PBP fees and any default fees, plus compund interest at todays account interst rate of 29.55%, from the date of such fees, along with a compensation payment, as shown below -
Payment break plan chatges - 641.06
Default fe charges - 469.73
Account rate interest -8364.92
8% Statuatory compensation - 2976.15
*lesss income tac at 20% -595.23
Total adjustment to account - 11856.63
Does this mean I will be getting a cheque for 11856.63 quid ?
"Without admission of liability, and as a gesture of goodwill, we are prepared to adjust your account with the PBP fees and any default fees, plus compund interest at todays account interst rate of 29.55%, from the date of such fees, along with a compensation payment, as shown below -
Payment break plan chatges - 641.06
Default fe charges - 469.73
Account rate interest -8364.92
8% Statuatory compensation - 2976.15
*lesss income tac at 20% -595.23
Total adjustment to account - 11856.63
Does this mean I will be getting a cheque for 11856.63 quid ?
0
Comments
-
Yes - or at least a credit to the account, depending on the status of your account.0
-
The account was closed about 3 years ago with a zero balance. So I should get the full 11 grand, is that correct.0
-
Yes, unless the account was in default, you'll receive nearly £12,000. You'll have to contact the Bank as to how they propose to pay it to you.
Congratulations !0 -
Many thanks. Thats amazing, totally unexpected.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.3K Work, Benefits & Business
- 599.6K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards