I was struggling to find an answer to this question when I started looking and thought it worth a post of it own.

I took out a loan in Sep 1999 and sent a letter to cancel the PPIicon in Jan 2000 and was told no you cant it is out with the 30 day cancellation period.

I then sent them a copy of both letters and they have agreed to refund in full from the date I cancelled.

They plan on paying me contractual interesticon from my cancellation request until settlement then 8% from then on

BUT

I have now calculated the refund (and faxed my figures to them) and worked it out using the CI through the loan and then CI through the second loan I took with them to settle the first loan and then CI through the third loan I took with them to settle the second loan and then CI through the forth loan I took with them to settle the third loan ( I paid off the fourth loan with bank charge refunds from Nationwideicon and Blackhorse)and then 8% for the remainder upto the date of refund (all these CI added £800 to the total.

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