Natwest CC PPI

doherty81

Quick question, I've heard on the news about loads of PPI claims etc but didn't actually realise I had any, so never really read into it too much. Anyway it turns out I did on a credit card from 2000 - 2012 where I had paid about £490 over those years.

A CMC has said the claim could be around the £8,000 to £15,000 once credit card interest and statutory interest is added... That range sounds:-
a. excessive and
b. Very wide.

Are they just putting figures out there to get me to sign up, or are they realistic? Personally it sounds very excessive but I dont fully understand how its calculated.

Nasqueron

You get a refund of your premiums + 8% simple interest (and sometimes attendant interest where you paid interest on the PPI premium). £8000 is ludicrous but you'd probably get £800-£900 if they agree you were miss-sold.

Do not use a claims firm, they will take 30%+ of your refund for using the same free of charge complaints process you can use yourself. While it's unethical, your total payout is likely to be within the grounds of auto-payment so submitting a complaint will probably win without a fight

doherty81

Nasqueron wrote: »

You get a refund of your premiums + 8% simple interest (and sometimes attendant interest where you paid interest on the PPI premium). £8000 is ludicrous but you'd probably get £800-£900 if they agree you were miss-sold.

Do not use a claims firm, they will take 30%+ of your refund for using the same free of charge complaints process you can use yourself. While it's unethical, your total payout is likely to be within the grounds of auto-payment so submitting a complaint will probably win without a fight

Thanks for the feedback and it confirms what I thought about it being excessive! I will put in a claim myself and see what comes out. Thanks for the advice.