Calculating PPI amount

Scisorman

Hi,

Can anyone help me with advice as to whether my PPI settlement calculation is fair? My claim has been upheld for PPI that was attached to a storecard back in the nineties. I provided some documentary proof and the claim was then upheld.

If so, I will post more details.

Thank you

[Deleted User]

Scisorman wrote: »

Can anyone help me with advice as to whether my PPI settlement calculation is fair?

PPI redress is defined by the regulator. The "fairness" of the calculation is not in doubt as you will receive a full refund of any PPI you paid plus 8% simple interest. Of course, if the Bank had no record of this finance, then your refund will be based solely on the evidence you provided yourself. The more comprehensive the documentation you provided, the more comprehensive the redress you will receive.

No need to post details here..

Scisorman

Thanks. I could only provide two statements, both with a balance exceeding £1000.
The statements were 5 months apart, from 1997, and both clearly showed ppi payments. The first statement showed a ppi fee of £7.90, the later statement from 5 months later, had a ppi fee of £9.

The apr was an eye watering 31%! Obviously there were 4 statements issued between but I cant find them.
The statements were numbered and showed that the account had been opened just over 5 years previously.

I was told that a claims handler had to manually recreate the account as they had no further records, taking into account the documents I provided. How would this work? Do they only use the documented PPI shown on the 2 statements or will they at least assume I had ppi between the two statements, or even from when I opened the account?

Just wondering if anyone here would be kind enough to calculate what sort of payment they would expect, or give me an idea how it should be calculated by a claims handler?

Thank you, and all help much appreciated.
How

[Deleted User]

Scisorman wrote: »

The apr was an eye watering 31%!

This has no bearing on any PPI you paid.

Scisorman wrote: »

Just wondering if anyone here would be kind enough to calculate what sort of payment they would expect?

It's not possible for anyone here to do this.. There are far too many variables.. Just relax and let the Bank do the calculations..