We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Why only 8% interest

Ed.Willink · 2018-07-30 15:45:29

Re-instatement of mis-sold PPI currently erases the PPI and puts the repayments in an 8% simple rate interest rate account. Why? 1) The PPI was a mandatory part of the loan product. The repayments that actually happened are for the loan product, therefore re-instatements must repay the loan product. Is the bank in breach…

Options

Comments

[Deleted User] Posts: 26,612 Forumite

4 August 2018 at 1:52PM

-taff wrote: »

Plevin is something entirely different and relies on being paid out on a REJECTED PPI complaint.

It's only the undisclosed commission that is repaid in that scenario of course, so I'm not sure how the OP has applied "Plevin duress" to obtain a full refund.

To be honest, this thread makes my head hurt.

0