Is it normal that interest on PPI is only paid when all claims have been fully investigated ?

[Chris.ln]

PPI upheld
I have been with GT now for three years, about two years ago EIC asked me to complete seems like hundreds of forms re PPI. To my surprise I received a letter from Halifax saying one of my claims had been upheld and payment would be made to GT. I had heard that any interest would be paid to me rather than the creditors, it isn't much but every little helps, as I hadn't heard anything I thought I would ring GT, at first they said they had no records of a payment but after pushing they finally said they had received the money. When I asked about the interest, they said that this would only be paid when all of the PPI claims had been fully investigated which could be another couple of years. Is this normal? Thanks

[Shining]

Hi, not sure on this one but will bump up for another poster to comment.

[Paul_d]

Payplan paid me the interest as soon they had received the first successfull ppi claim.

This was a good year before the investigation was complete.

Maybe it's just easier for GT's records to send one cheque when investigation is complete.

Fingers crossed it's worth the wait and you recieve a much larger cheque.

[Foggy]

It appears normal for GT to hold on to the money as long as possible -- in fact I have yet to hear of a payout.

As far as I am aware you will only get the interest if you signed a spotty letter before the PPI was claimed.

[Shining]

I wonder if anyone has had a payout? Maybe a forum member?

[Pandy]

I haven't received the promised pay out of interest from GT yet, and in an email I was told it would not be paid until all PPI had been finalized. I think I have more chance of catching a Unicorn than getting GT to keep to it's promise