Cancelled ppi question

wilt44

I wonder if somebody can check whether this is correct. I cancelled a ppi on a loan that I had. It was a single premium policy that covered 36 months. The initial single premium was £2528. I cancelled after 20 months. I was only given a refund of £755.87. They claimed expenses incurred for setting up the policy at 32.1%. They have them also said that the insurance copy is on risk. The cost for this is calculated at 1.9% of the premium over the 20 months. This total is 38%. Therefore the amount available for refund is 29.9%,total £755.87. Does this sound correct. I did not go down the mis selling route. It was my fault for taking it out and thats why I cancelled.

-taff

When did you take the loan out, when did you cancel the policy, who was the loan with.

wilt44

The loan was taken out in 2006 and the ppi was cancelled in 2008. The loan was through loans.co.uk and wasnwith spml.