PPI Reclaiming Discussion Part 5

amersall

I know saw it a couple of mins ago

grottie

Evening,
Sorry if this has been asked before and i am being thick.
If you receive a PPI payment do you have to inform DWP as retired and they receive pension tax credits. I hope this makes sence.
Thank you for taking the time to read and possibly reply.

[Deleted User]

grottie wrote: »

Evening,
Sorry if this has been asked before and i am being thick.
If you receive a PPI payment do you have to inform DWP as retired and they receive pension tax credits. I hope this makes sence.
Thank you for taking the time to read and possibly reply.

Only the 8% interest paid with successful redress is taxable. If this amount awarded took the retired person over their personal taxation allowance, it's HMRC they'd need to inform.

FabuLass

I received my SAR and it shocked me to see we'd taken 11 loans in our time with tsb, and was one loan was to pay off next loan. However as one loan finished early we received a rebate on the ppi, although when we took next loan again it was front loaded (they all were) Can we still claim on those or did the rebates make it ok, as I guess we were only charged for the months we had cover?

Also, will one questionaire do listing all account numbers? Starting from oldest going forward or most recent going back?

Thanks

pinkkibby

Hi

You would not have received a prorata rebate so this needs to be accounted for plus the whole point is that you paid for PPI during the months the loans were inforce and you shouldn't have done if you are going to complain that the loans were missold.

Also, if the loans were refinanced, a residual amount of PPI would be carried through to the next loan therefore meaning you ended up borrowing more than you would have done had you not had ppi.

One questionnaire will suffice for all loans. just put the start date of the earliest one in the relevant section then you can list all the loans in the information regarding your complaint.

jay-1

FabuLass wrote: »

I received my SAR and it shocked me to see we'd taken 11 loans in our time with tsb, and was one loan was to pay off next loan. However as one loan finished early we received a rebate on the ppi, although when we took next loan again it was front loaded (they all were) Can we still claim on those or did the rebates make it ok, as I guess we were only charged for the months we had cover?

Also, will one questionaire do listing all account numbers? Starting from oldest going forward or most recent going back?

Thanks

You want them to look at all the loans and stress they were all consolidated front loaded PPI and the full costs and unfair rebates were never explaned to you at the point if sale.

Although you received a rebate for each loan there was still the remaining PPI added to the new loan with interest added.


I would think you could start with the oldest loan to the most recent just make sure you make it clear that they were consolidated.

If you win your claim all rebates will be taken off the redress.

FabuLass

Thank you for such clear advice pinkkibby and jay-1 as I must admit with the consolidations and partial rebates I was totally confused. This is my job for today now I know where to start, cheers!!

nazd

Hi, i am really busy with things and cant be bothered to claim myself. Can you recommend a company that we can use with confidence?

[Deleted User]

nazd wrote: »

Hi, i am really busy with things and cant be bothered to claim myself. Can you recommend a company that we can use with confidence?

Not on this site, mate!

Do realise that ,even though you're "busy" and "can't be bothered", using a Claims Company involves exactly the same amount of research and form filling as you would do if complaining alone.

Basically, the CMC will forward your completed complaint form onto the Bank. That's all.

nee666

nazd wrote: »

Hi, i am really busy with things and cant be bothered to claim myself. Can you recommend a company that we can use with confidence?

Seriously, download the fos form, fill it in with what info you have pop a stamp on it & post it....
I wasn't going to bother either, I did the above for about 10 different companies, I didn't even have account numbers for some, did this end of July so far I've had nearly £9k, could end up with double that, just for a few hours form filling, & like money has said a claims company will want you to provide all the info, they don't have access to anybody's loans, they fill the form in & pop it in the post & get £1000s of YOUR money..........