Halifax PPI Reclaim

Helstar75

Good Morning all

Well yesterday I got a reply from Halifax with regards to my PPI on credit card being missold and due to pre-exisiting med conds it was basically no use to me.

I sent from at the end of July and they sent me back a letter dated the 4th August 2010 saying that they have looked into my complaint and wrote as follows '' I have considered your complaint and have decided in view of the fact you are a valued customer I have decided to refund you an amount that will put you back in the position you would have been in had you not taken the insurance. This is done without admission of liability and in full and final settlement of your complaint''

Firstly I am suprised they wrote back so quickly and am I correct in thinking that if they say they take no responsability then they dont have to pay any of they 8% interest?
They havent given me an amount and said they will let me know how much it would be within 14 days and would pay it back into my credit card account is that right?

Thanks for all your help!!!

di3004

Helstar75 wrote: »

Good Morning all

Well yesterday I got a reply from Halifax with regards to my PPI on credit card being missold and due to pre-exisiting med conds it was basically no use to me.

I sent from at the end of July and they sent me back a letter dated the 4th August 2010 saying that they have looked into my complaint and wrote as follows '' I have considered your complaint and have decided in view of the fact you are a valued customer I have decided to refund you an amount that will put you back in the position you would have been in had you not taken the insurance. This is done without admission of liability and in full and final settlement of your complaint''

Firstly I am suprised they wrote back so quickly and am I correct in thinking that if they say they take no responsability then they dont have to pay any of they 8% interest?
They havent given me an amount and said they will let me know how much it would be within 14 days and would pay it back into my credit card account is that right?

Thanks for all your help!!!

Hi

Well done that is fab.:T:beer:

I take it no interest is mentioned then?

You could ring them to make sure on this, but I believe you may be right.

If there are no arrears, you can request they refund the amount directly to you, I would also check with them on this as well if you can, they should be able to confirm this to you.
Good luck.;)

dazed_and_confused_3

Helstar75 wrote: »

Good Morning all

Well yesterday I got a reply from Halifax with regards to my PPI on credit card being missold and due to pre-exisiting med conds it was basically no use to me.

I sent from at the end of July and they sent me back a letter dated the 4th August 2010 saying that they have looked into my complaint and wrote as follows '' I have considered your complaint and have decided in view of the fact you are a valued customer I have decided to refund you an amount that will put you back in the position you would have been in had you not taken the insurance. This is done without admission of liability and in full and final settlement of your complaint''

Firstly I am suprised they wrote back so quickly and am I correct in thinking that if they say they take no responsability then they dont have to pay any of they 8% interest?
They havent given me an amount and said they will let me know how much it would be within 14 days and would pay it back into my credit card account is that right?

Thanks for all your help!!!

I had almost the exact letter back from Halifax about my PPI complaint on my Halifax credit card. That was a very prompt response as well. They sent another letter about a week later from their “redress team” and a cheque to be repaid onto my credit card account - as the account isn’t fully cleared.

On mine they included interest charged on the PPI charges and although they didn’t repay any 8% statutory interest that was only because my account had never been fully cleared during that time so I wasn’t due any. They did say that:

“If, by reapplying this to the account in each month that you had the policy, a credit balance is produced for any period, we will pay interest on that balance for that period at 8% simple per year.”

So I’d imagine yours should be the same.

They did however offer me nowhere near the amount of compound interest that I am due. They’ve actually offered about £900 less in interest alone than I can prove I am due - as I have my statements. It seems from a few other people that Halifax attempt to claim that your CC payments each month go towards paying off your PPI charges first - even though their T&C’s say nothing about this - and therefore you are due minimal repayments on interest. So for a PPI charge made in say August 2006, rather than being due 4 years interest repayment I am only due 1 month. Which is ridiculous anyway as even if that were true the money that went towards paying off the PPI would otherwise have gone towards reducing the debt - which continued to be charged interest at the same rate. So if they really aim to "put me back in the position I would have been in had the insurance not been taken" then surely have to pay that interest.

I’m now taking my complaint to the FOS as a result. I’d advise you to just be aware of that tactic of theirs, although obviously whether you choose to accept their offer or push for more has to come down to your own personal situation.

Good luck either way. :cool:

Helstar75

Good Morning

I got a letter from halifax this morning They have upheld the complaint and as recommend by FOS have refunded the premiums plus interest at 8% simple per year.
Its a bit strange as in last letter they did not claim to be responsible but as Im a valued customer they are refunding me. (to me upholding the complaint doesnt deny responsiblty or maybe I am taking it wrong?) They have not put in this letter they are not reponsable for misselling so seem contradicary to me? anyway I suppose that is besides the point.

Any way they told my that I am due £231.68 and 0.35 Interest on premiums too me that does not seem right so I will ask for a breakdown of how they came to that total.
Then they went on to write '' It should be noted that the redress figure quoted will be refunded back on to my Credit card account where PPI premiums were oridinally debited. Subsequently, a cheque for this amount will be forwarded under seperate cover within five days.
I have just looked on my account and they have already credited before I have even agreed taht I am satisfied and why would they say they are forwarding a cheque if they have put it into account?
Im confussed or am I being a bimbo?
Thanks for reading and your advise in advance

di3004

Helstar75 wrote: »

Good Morning

I got a letter from halifax this morning They have upheld the complaint and as recommend by FOS have refunded the premiums plus interest at 8% simple per year.
Its a bit strange as in last letter they did not claim to be responsible but as Im a valued customer they are refunding me. (to me upholding the complaint doesnt deny responsiblty or maybe I am taking it wrong?) They have not put in this letter they are not reponsable for misselling so seem contradicary to me? anyway I suppose that is besides the point.

Any way they told my that I am due £231.68 and 0.35 Interest on premiums too me that does not seem right so I will ask for a breakdown of how they came to that total.
Then they went on to write '' It should be noted that the redress figure quoted will be refunded back on to my Credit card account where PPI premiums were oridinally debited. Subsequently, a cheque for this amount will be forwarded under seperate cover within five days.
I have just looked on my account and they have already credited before I have even agreed taht I am satisfied and why would they say they are forwarding a cheque if they have put it into account?
Im confussed or am I being a bimbo?
Thanks for reading and your advise in advance

Hiya

First of all well done.:beer:

I am baffled as well to be honest.
I understand that they do refund towards the account if there are outstanding arrears, or they may do this anyway, and if they did not accept liability of the mis selling but as a goodwill offer maybe this is why they did refund towards the account, where if they did accept liability then you would have been in your right to have the refund paid directly to you, also any interest as well should be awarded to you.

Think I am confused as well though on what they have done.....:o

A written breakdown would definately be useful, this may give you more of an idea of what was done and when etc, so maybe this will also shed some light on this for you. Fingers crossed, hope they send you this soon.:);)X

sylhet

The refund to the PPI claim should be paid in to your current account or a cheque. If they credit the fund into your credit card to reduce the debts - that is wrong, because I had a dispute with HSBC on this issue and they finally admit it was wrong of them. Send them a financial hardship letter etc it should work in your favour - but do take care what you say in the letter as these are words game - say the right words and it would make them think twice.

dunstonh

sylhet wrote: »

The refund to the PPI claim should be paid in to your current account or a cheque. If they credit the fund into your credit card to reduce the debts - that is wrong, because I had a dispute with HSBC on this issue and they finally admit it was wrong of them. Send them a financial hardship letter etc it should work in your favour - but do take care what you say in the letter as these are words game - say the right words and it would make them think twice.

I am sure that the person has got their money as it has been 16 months after the last post.