A simple Question About PPI

[gman41]

Sorry if this has bben asked before, I will cut the Question short...

 

Credit card with HFC (Marbles) taken Out 2002,

Asked for it back...

 

they said they aint required to save records after 6 years (6 year ruel)

I had the card for about 2 years Balance was around £4000, ppi 77p per £100

 

The off is just £244, with no break down of how they come to that???

 

I want to reply to ask for a detailed break down as Yorkshire bank gave me (so many months of PPI and the 8% interest)

 

 

Question is What should I do next because I know I paid alot more than just £244 has I used the credit card for a balance transfer.

 

 

Hoping to win with your advice!

 

 

Gman41.

[MSAR]

The PPI refund is based on all your PPI payments charged to your account, plus credit card interest rates that accumulated from those, plus 8% statutory interest on top of those as compensation. Each month, the outstanding amount is used to calculate the PPI for that month. £4000 each month would give you £32 PPI. So for two years, that would add up to over £750. Another 8% would give you £830

 

Have you tried using the Data Protection Act and send a request (SAR) to get all relevant statements for that particular time interval? Then you can use the spreadsheets available from this site to do the calculations

 

If you had £4000 in total credit card payments, then you would have

[dx100uk]

its was a credit card so there is no 8%

 

its THEIR INT RATE compounded

 

use the foscisheet

 

dx