Hi, I completed my IVA with Grant Thornton in August 2014, and since then I've been dealing with EIC sorting out the PPI claims, I've been told that I'm eligible for 8% interest on the sum of PPI gained which according to the documentation sent to me from Lloyds (the source of the PPI claim) was somewhere in the region of £2500. EIC have completed their claim and sent it back to Grant Thornton in December/January and I've not heard anything since although I've called GT a number of times and not really gotten any answers. Has anyone else been in a similar situation and received an interest payment back? And if so how long did that payment take to arrive?
I'm trying to chase this up as my car has died on me and its in my work contract that I have to have a car for work, I can't borrow a car or money to buy one so I'm concerned I may lose my job without getting this payment.
Are these repayments from Grant Thornton? When I spoke to them today I asked if they were able to check the status with their PPI department which she wasn't prepared to do which was a little frustrating to say the least.
We have just asked this question. We asked for the intrest back (around £1200) to buy a car. We were flatly refused. We were gutted as we were desperate in need of a car for my husband to commute to work 60 miles a day. Our car was ready for the scrap heap & there was always something going wrong but they still wouldn't listen.
Since they refused our car has died and we've had to buy a cheap car using our banked overtime cash inc their share. Now just waiting for outcome of review but a little worried as we've used the cash from overtime. But if we didn't have a car their would be no income at all. Good luck
Hi, I received the stat interest from ppi claim via Grant Thornton a few weeks ago. However this took several emails complaining to various depts and copying my IP into the emails. I gave up with the customer service email as the response time was weeks and the advice usually inaccurate. So they are paying out, although I think they paid my interest out just to make me go away! Good luck.
As far as I am aware they are only paying interest to those who agreed the new terms and conditions (spotty letters), or, possibly, to those whose interest was paid over after the MVM's. Those of us who had PPI garnered early are not getting anything.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I received PPI repayment long before I went into my IVA. I then received 8% statutory interest a couple of years later after my IVA started. 20% tax was deducted at source and the payment sent to direct to my IP for payment into the IVA. As a higher rate taxpayer my IP then sent me the extra 20% tax for payment to HMRC. So all the interest payment less tax went to the IVA.
