Not sure that I asked this right last time however we have had some letters and confirmation today so thought I would have another bash.
We completed our F&F IVA in Feb with Aperture. Since and before then Slater Hayward have been rounding up our PPI, first confirmation came into and I have never been less bothered to find out that we are owed several thousand pounds. I phoned Aperture to let them know that this had been received and they informed me that in my IVA agreement I will be allowed to keep the "statutory interest" with our PPI claims.
My question is does anyone know how much this interest is and how it is calculated. Want to know if I should be mildly excited by a small payment or will it be just enough to cover a cream egg and coffee.
Both SHL and Aperture were not very forthcoming and to be fair I did not push it, I really do want to come off ungrateful, I would just really like to know.
Thank you in advance.
Depends which creditor it is and from when the ppi was taken. Im in a similar situation. I received a detailed letter from Yorkshire bank stating exactly how much was owed and when it was from. Fortunately for me, it was from a loan back in 1993. £3500 total ppi and then statutory interest at 8% per year for last 24 yrs. Theres about 7.5k just in statutory interest alone.
I received an email from Aperture 9th March saying they had received the cheque from Yorkshire bank and i would be paid within 90 days. Minus their fees.
We have a couple more to come in so see where we are when all done, holiday home in the Costa's or Brekkie at the greasy spoon with a posh coffee......
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