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Please note that CMC’s may charge you a cost, as much as 39 % + VAT of any possible compensation in order to handle your complaint. The Royal Bank of Scotland Group will certainly not cover any charges you may sustain as an outcome of advising a Claims Management Company to act upon your behalf.
Payment Defense Insurance coverage (PPI) is an optional insurance policy often taken with loans, home mortgages, overdrafts, credit cards or shop cards that might cover you if you cannot meet your payments in case of spontaneous joblessness, health problem, mishap, death or disability.
The 8 % statutory interest payable to you is treated as income which, in line with HM Profits & Customs (HMRC) requirements, is taxable. If you think you are exempt from paying tax kindly contact HMRC straight.
Both the RBS Group and the FSA have some concerns relating to the method that PPI was offered to some clients. Where there may be premises for concern, we wikipedia reference will proactively write to consumers offering to examine the product sale.