Ppi reclaim on welcome car finance/ go car credit

Bex885

Hi everyone I'm really confused
I took out a car on finance with go car credit in Dec 2005
After passing my test I found out last January I had £1,700 paid for the ppi I never defaulted and paid in full early
The fscs are dealing with it and told me my claim was upheld on Tuesday so waiting for a letter then they can discuss it with me..
I have no idea the amount I can get back from them the claim manager asked if I had any savings and if I had any sick pay when I took out the loan which I told him no I was offered a contract at my job but was still agency when I took out the car due to contracts being drawn up.
The person who sold my the card a 2002 ford ka didn't tell me about the ppi he ticked and signed it I never even got contracts through the post the company I paid was welcome the car was from go car credit and apparently the insurance was from economy cars ltd can anyone help with this or a possible calculation please

-taff

the FOS or the FSCS?
if the former, what you paid plus the interest plus 8%.
if the latter, 90% of what you paid.

Bex885

I was told by the Fos they couldn't deal with it so I had to use the fscs to claim it back is that 90% of the total 1,700 I was told I could get interest on top of it

-taff

I'm not sure if you get interest as well. If you go the FSCS site and have a trawl around you may find it.
The best I could find was 90% of the total you paid in PPI with no extra compensatory monies.

amersall

I believe you are correct taff, FSCS only compensate for the PPI so no 8%.

[Deleted User]

Bex885 wrote: »

I was told I could get interest on top of it

No interest is paid on FSCS compensation.