PPI Claim - Egg

kmt23kmt23 Forumite
3 Posts
First Post
MoneySaving Newbie
Hi,
I tried to reclaim PPI back in 2008 for an Egg credit card I had and the claim was refused. I did no more about it and have moved home since. Recently, I have received a letter from Canada Square Operations to advise there had been a review in 2013 and a redress offer had been sent to my old address.
The calculation shows the 8% interest up to the redress offer in March 2013.  Just wanted to check that I am receiving the right amount (I have not had any other PPI claims). Would I receive interest until payment is made?
Thank you 

Replies

  • brettctabrettcta Forumite
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    No, you’ll receive interest up until the date the offer was made.
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
  • FarfetchFarfetch Forumite
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    brettcta said:
    No, you’ll receive interest up until the date the offer was made.
    Which is perfectly logical as otherwise you could just sit on the cheque for 10 years then demand 8% interest instead of a savings of 1%

    He who rejects change is the architect of decay. The only human institution which rejects progress is the cemetery.

    -Harold Wilson


  • kmt23kmt23 Forumite
    3 Posts
    First Post
    MoneySaving Newbie
    brettcta said:
    No, you’ll receive interest up until the date the offer was made.
    Thanks for confirming! 
  • kmt23kmt23 Forumite
    3 Posts
    First Post
    MoneySaving Newbie
    Farfetch said:
    brettcta said:
    No, you’ll receive interest up until the date the offer was made.
    Which is perfectly logical as otherwise you could just sit on the cheque for 10 years then demand 8% interest instead of a savings of 1%
    Very good point! I hadn't been aware the claim had been reconsidered and thankful they tracked me down. 
  • NareikNareik Forumite
    7 Posts
    Second Anniversary First Post
    Hi. I've had a letter from the Consumer Refund Service informing me that they have already secured compensation for me from Egg but that they haven't refunded to me the full cost of my PPI policy. They have teamed up with Cheval Legal to put forward the necessary legal arguments to advance my case on a no win no fee basis so i completed the form and sent it off, however, they are now asking for photo and proof of address ID before they begin but it's made me wonder if I can reclaim the full amout on my own using your reclaim tool?
  • zx81zx81 Forumite
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    If you believe the full amount wasn't paid, you can simply contact them to query it - however, it's highly unlikely.  Certainly don't add yourself to their suckers list.

    What was the result of your complaint in terms of the redress?
  • NareikNareik Forumite
    7 Posts
    Second Anniversary First Post
    Egg initially refunded something like £600 and said 'the case is now closed'. Now the CRS/Cheval Legal have stated that this is a claim made on Plevin grounds for non disclosure of the commission from the sale of their PPI.
  • FarfetchFarfetch Forumite
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    Nareik said:
    Egg initially refunded something like £600 and said 'the case is now closed'. Now the CRS/Cheval Legal have stated that this is a claim made on Plevin grounds for non disclosure of the commission from the sale of their PPI.
    You need to be clear about the wording of your complaint response and what Egg said.

    If they paid a FULL refund of PPI then you cannot make any more complaints as you have already been refunded - there is no Plevin on top of the PPI refund, a full PPI refund includes that element.

    If your complaint was rejected but you got a Plevin payout then it sounds like this firm now want to try and use legal action to argue the Plevin refund wasn't enough and you should get the whole amount but that could prove costly particularly if you are having to pay for the legal costs insurance policy.

    He who rejects change is the architect of decay. The only human institution which rejects progress is the cemetery.

    -Harold Wilson


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