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Credit Card PPI Redress


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Please can some expert kindly explain if there is a difference between 8% Statutory interest and 8% simple interest ?

 

If so when would they be applied to any redress.

 

My issue is that bank rejected my claim but was up-held by FOS.

 

Card PPI started Jan 2000.

 

PPI cancelled Sep 2004 when got into financial difficulties.

 

Been paying agreed payment plan no interest to bank from Sep 2004 to date.

 

PPI claim up-held Dec 2014.

 

Thanks

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