Halifax PPI redress Payments

ccb

If that case, I think you have grounds to make a complaint to try and claim back your PPI. If the cover you have, doesn't actually cover you, then it's not fit for purpose, and shouldn't have been sold to you.

I'm sure there will be someone who knows more of the ins and outs than I do who will be able to confirm or deny that though.

dunstonh

You are right. If it does not cover you then you have grounds for complaint. It is when it does cover you and you complain it doesnt that you are destined to failure.

katiebbb

Well, thought I would phone Halifax again this evening.... now 3 months since they upheld.
OMG – they have sent out some calculations today!!!! Hooray!!! I was told last week that people like me (ie people phoning up every week, sending snotty eMails to the CEO and generally harassing them because I have been WAITING SO LONG) would be paid by 15th December at the very latest.

Well, because they have now sent me a letter that deadline doesn’t apply anymore apparently and I revert to“receiving settlement within the next 30 days” You just couldn’t make it up. I am normally such a calm and placid little soul but they have slowly and steadily turned me into some kind of stress-ridden lunatic......
So, we moved onto the actual figures. Loan 1, was only active for 10 months back in 2002 and will be repaid as follows:

Premiums (incl of interest) £107.1
8% interest £72.64 (works out as £107.10 x 8% x 8 years and 10 months = CORRECT)

Loan 2:
Premiums (incl of interest) £1,754.02
8% interest £615.05
Loan has been running since Oct 2003 so basically 8 years .
On the same basis as Loan 1, and in accordance with all their examples in their upheld letter the interest should be: £1754 x 8% x 8 years = £ 1,122

I realise the method applied for Loan 1 and in their examples is more than they are required to pay but I am curious as to what others have received from the Halifax for their 8% payment....

Also can anyone confirm that the monthly ppi payments which incl interest do not have any impact on the balance of the loan and therefore the loan interest which I have paid?? The premiums show each month as a debit on my loan account statements but I assume they are removed for the purposes of their monthly interest charge calculations????

ccb

The loan and loan interest won't be affected by the PPI loan payments and interest. It's like they're two separate loans really.

irnbru74

Hi,
Looking for advice, I have had 2 loans with Sainsyburys (HBOS)
loan 1 taken out in March 2004, loan 2 refinanced this loan in December 2004. I complained about loan 2 which I finished paying in 2009.
Accepted their offer in September after waiting 15 weeks and finally got calculations from HBOS about loan 2 after waiting over 9 weeks for them, however it seems they have only investigated one loan, no mention of loan taken out in March 2004. I know it may be partly my fault for only giving them agreement number for last loan, but I thought the FSA had guidelines requiring them to investigate everything.
Also their letter stated that as part of their offer it would consider any other loans that were refinanced by this loan etc etc.
To date I have never received any correspondence about loan 1 ie whether they were upholding or declining my complaint.
I queried this today and was told that they would email relevant team, however don't know how long this will take.
I feel they have been remiss about this as they have had more than adequate time to investigate!
My question is should I complain to the powers that be, to try and speed things up?
I don't even know if this complaint will be upheld or not, but don't see why I should wait even longer, because they have been complacent.
What do you think?

Thanks

SDUNCAN

ccb wrote: »

If that case, I think you have grounds to make a complaint to try and claim back your PPI. If the cover you have, doesn't actually cover you, then it's not fit for purpose, and shouldn't have been sold to you.

I'm sure there will be someone who knows more of the ins and outs than I do who will be able to confirm or deny that though.

I phoned them today to double check what I was and wasnt covered for, she said unemployment but if I closed my business and made myself unemployed then it would be voluntary and they wouldnt pay out for voluntary unemployment so I'd have to sack myself to get a payout I think.

Forms sent off so will see what happens.

ccb

I received my revised loan agreement yesterday in the post, so that will be sent back to them today. On the calculations letter that I also received, it had the interest calculated up to 23rd December, so I'll probably get my cheque around then. Hopefully BEFORE Christmas, but you never know with the post too...

Draved

I stopped believing all the b*llsh!t excuses I get from the Halifax ages ago. I've maybe chased 5-6 times since they received my acceptance forms and the fobb offs change each time. I'm now in the curious position where one card has been paid back but the other card and loans have been lost in the melee.

They're all under the same ref number so imagine my surprise at the latest excuse....

It's that all the different departments need to get their calculations sorted before they can send them all back to me.
When I said "but how come one card has been paid back then?" there was no answer. I suggested, randomly, that maybe it was because this card was active to which the response was " yeah that'll be it".

The cynic in me thinks they are waiting for something. Maybe the next credit crunch as a way of not paying. Maybe something as simple as holding on to the interest our money is making them until after the Christmas period.

evertrue

sweetdaisy wrote: »

I phoned them and they said that my claim is still in the 'Calculations' stage and that I should hear whether I have been successful in my claim by 22nd December.

My mum and dad still have heard nothing, I phoned up for them and they said still nothing logged on the claim yet. Have you had any news on your claim yet?

Thank you

stubby_2

I'm in the "claimed in May, upheld end of August" group. Phoned Halifax last Friday and was told that the money for this group would be sent by 15th December.
I have just checked my accounts online and it appears that the outstanding balance on my loan has dropped from -£640.00 (only had 2 payments left) down to -£0.63 ( a bit of an odd amount!). So it seems that the money from the ppi claim has been partly used to (almost) clear the remaining balance. (I hope).
So fingers crossed:
a) there's a cheque for the balance on its way
b) all in our group are going to get their money very soon