Ppi Calculation

[silliemillie]

Very happy to hear today from the financial Ombudsman that I am entitled to Compo from my credit card company and they have referred it back to them to make the calculation.

That's great news but they say I will have to wait 10 weeks for this.
So I have no way of knowing how much I will receive & curiousity is getting the better of me!

Does anyone know how they do their calculations?

[factor-fiction]

Well you'll get interest at a generous rate when the payment is made so there is a positive side to the delay

[EDDIE51]

I got a ppi repayment for loans. The original offer was £1145 which I thought was fair and accepted. But when the cheque came through 10 weeks later it was for £4028 !!!. They said that the original offer had been recalculated and the £4028 was correct. I do not know how they do the calculations .

[silliemillie]

Wow, thanks for your replies, wasn't expecting anything really as its been going on since January, so anything is a bonus, but would be nice to have an idea.

[bednobs]

well it would be helpful if you know how much you paid, as that will formt he bulk of the settlement with interest being added on after

[silliemillie]

I don't really know how much I paid as it was on a credit card, the balance going up & down over quite a few years.
Never mind, I will have to be patient!