PPI claim payplan

greenbrucelee

So after three years of trying to get the clydesdale bank to acknowledge I had ppi with them they have come through with an offer. I am in an IVA with payplan and creedo claims do the ppi.

The offer is for £2975.80 now I know payplan and creedo claims take their cut. I phoned payplan to tell them this morning and the girl I spoke to seemed to claim that I would be entitled to the interest on it am I to take it that would be the 8% interest? if so that would be £1441.60 can anyone confirm this please?

greenbrucelee

just had an email from creedo saying they have the info from clydesdale and they will take 25% plus VAT does that mean they take 45% or is it 30%?

Lincsdebt

I was in an IVA with Payplan and received several PPI payouts. They paid me the statutory interest. It was normally itemised on the statement from the card company. May take up to four weeks to come through.


The PPI company (not Payplan) took 40% of the payout, so if it's the same one they put me into, that's what they will take. But that is from the payout, not the interest. There's also usually income tax taken off at 20%, again that's usually listed on the paperwork.

National_Debtline

greenbrucelee wrote: »

just had an email from creedo saying they have the info from clydesdale and they will take 25% plus VAT does that mean they take 45% or is it 30%?

Hi greenbrucelee


As I understand it, the VAT should apply only to Creedo's fee, as opposed to the whole balance of the PPI refund, so overall their deduction should be 30% of the total.


Dennis
@natdebtline