Halifax PPI claim successful! Question...

Jo_R_2

I posted a little while ago about reclaiming the PPI on my Intelligent Finance loan I took out in 2004.

I received a letter yesterday which says Halifax are going to "pay you an amount which will put you back in the position you would have been in had you not taken the insurance." They go on to say they will be in touch to confirm the exact amount to be paid to me.

They then go on to say "where an account you hold with Halifax is in arrears it is our policy to offset the amount of redress we are offering against any currently outstanding balance... Therefore, if you are in arrears, the redress will be used to reduce or clear the arrears and any surplus will then be paid to you."

So basically I should be getting refunded directly back onto my loan everything I have paid... But not the 8% statutory interest.

I haven't worked out exactly what 8% would be of the PPI I have paid (need to dig out the paperwork) so not sure whether to pursue this or take the offer.

One thing I was wondering however... My current account is with the Halifax and having recently received a letter about them changing their charging structure for overdrafts to the £1 a day charges for using an overdraft, could I potentially approach them and do some kind of deal whereby they refund all but the amount of my overdraft and pay the remainder straight into my overdraft to cancel it?

I know it's a bit O/T to reclaiming PPI but it would *really* help me out!

di3004

Jo_R wrote: »

I posted a little while ago about reclaiming the PPI on my Intelligent Finance loan I took out in 2004.

I received a letter yesterday which says Halifax are going to "pay you an amount which will put you back in the position you would have been in had you not taken the insurance." They go on to say they will be in touch to confirm the exact amount to be paid to me.

They then go on to say "where an account you hold with Halifax is in arrears it is our policy to offset the amount of redress we are offering against any currently outstanding balance... Therefore, if you are in arrears, the redress will be used to reduce or clear the arrears and any surplus will then be paid to you."

So basically I should be getting refunded directly back onto my loan everything I have paid... But not the 8% statutory interest.

I haven't worked out exactly what 8% would be of the PPI I have paid (need to dig out the paperwork) so not sure whether to pursue this or take the offer.

One thing I was wondering however... My current account is with the Halifax and having recently received a letter about them changing their charging structure for overdrafts to the £1 a day charges for using an overdraft, could I potentially approach them and do some kind of deal whereby they refund all but the amount of my overdraft and pay the remainder straight into my overdraft to cancel it?

I know it's a bit O/T to reclaiming PPI but it would *really* help me out!

Hi hun
Hope your well.

Well done on your success.:beer::T:T
It may be worth asking on the 8%, if they admitted to mis selling, by also putting you back in the position as if you did not have ppi etc, you could question them on this I believe, and also no harm in approaching them about the overdraft issue as well.
Hope it works out for you, fingers crossed.;)

melorablack

If your loan is in arrears they will use all the redress to reduce or clear the arrears (including the 8%) and then will pay you any amount left over - either by cheque or to your bank account. Just let them pay you what you are due and then sort your overdraft out separately. They are different departments and if you want an easy life it would be simpler to do it that way.