Here is an example of how we managed to get back over £12,000 in Payment Protection Insurance:
J D Law
PO Box 4173
Date: 21 March 2013
Our ref: XXX
Your ref: XXX
RE: Mr XXXXXX
Further to our recent correspondence regarding your client’s Payment Protection Insurance (PPI) policy, I am writing to advise that our settlement offer for their complaint totals £12,728.60.
This is equivalent to a full refund of the PPI premium (£6,400.00) plus the interest paid on the premium (£4,818.44). We have also included interest of 8% on the payments made toward the PPI (£1,887.71).
Note: UK withholding tax of £377.55 has been deducted from the 8% gross interest amount. You may need to inform Her Majesty’s Revenue and Customs (HMRC) of this amount. For any queries regarding tax, please contact your local Tax Office or go to www.hmrc.gov.uk.
Please note that the monetary value of our offer is subject to the information Loans.co.uk (as the broker) has received from your lender & insurer and we therefore reserve the right to amend our offer should any further information arise.
This represents our final offer. Please can you a) select one of the two options detailed on the enclosed Settlement Form, b) complete the payee details and then sign, date and return this form within the next 28 days and I will arrange for the refund to be processed upon receipt as an electronic transfer into the bank account stated. If you would prefer to receive a cheque for this amount, please indicate on the attached form.
I can confirm upon receipt of their settlement acceptance, we aim to send a payment within a further 14 working days. Thank you for your patience in advance.
Encs: Settlement form
So another great result for one of our clients!