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Had Ppi Refund but should I get compensation?

mclaugj
mclaugj Posts: 1 Newbie
in Reclaim PPI & other insurance
Hello there,

I had a loan with Clydesdale bank back in 1998 and I had one of those "compulsory" PPI policies with it. Following advice from this forum I managed to get a refund of my premiums and the interest over the period of the loan.

Here's where I'm confused. Should the bank be offering me interest for the last 20 years they've been holding on to my money? Has anyone had any experience with this?
Cheers
Joe

Comments

  • amersall
    amersall Posts: 17,037 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    edited 26 April 2018 at 7:32AM
    Did you get the 8% interest in the calculation, what was the breakdown of the redress that they sent you and what information have they worked this out from?.
  • Nasqueron
    Nasqueron Posts: 11,048 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    The 15% / 8% interest element of the refund is for that purpose

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

This discussion has been closed.
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