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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
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Yes - or at least a credit to the account, depending on the status of your account.0
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The account was closed about 3 years ago with a zero balance. So I should get the full 11 grand, is that correct.0
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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 !
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Many thanks. Thats amazing, totally unexpected.0
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