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Shop Direct PPI


redminx
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Hello

 

I have received from Shop Direct for compensation on PPI added to account I had with Choice catalogue sounds correct?

 

 

Have read elsewhere SD may typically offer refund of premiums but not correct amount for 8% interest

- am unsure how to calculate myself to check

 

PPI sold with account in March 2001. Account closed 2006.

 

Have a couple of statements still but not full file - compensation letter states total premiums paid + £154.78.

 

Additional interest paid due to premiums = 0

 

Refund of charges incurred as a direct result of the PPI being added = £15

 

Simple interest - at 8% per annum - for times balance would have been in credit if no PPI on account = £9.06

 

Total refund with £1.81 tax deducted = £177.03

 

Not sure this sounds correct as my understanding was 8% interest per annum should be added from date of PPI sale to today to compensate for not having the money - that would be 16 years & doesn't seem to have been included?

 

Grateful for any advice as thinking of referring to FOS

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without the statements

you nor us will have a clue

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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