PPI Reclaiming Discussion Part 5

ChocolateAngel

amersall wrote: »

Did you pay PPI on the second loan and why have they rejected the claim?.

With the first loan as you only paid 12 months on this, you would have had a rebate of the PPI in the settlement figure, as you did not pay the whole PPI then you are not entitled to the PPI you did not pay, how much was the total PPI on this loan?..

If the second loan had PPI how long did this run for or was it settled early and how much was the PPI total?.

Thank you for your reply. The first loan was Aug 2002 for £5000 and then added on was a 2nd schedule for the PPI which was £1914. The 2nd was a loan of £7000 with 2nd schedule of £2669 and that was Mar 2003. Both times my husband went into the branch after speaking to them on the phone and the paperwork was already prepared with the PPI part already added to it. They have rejected the 2nd claim saying that they feel we were adequately informed about the optionality of it. Their rejection also stated that as we had received benefit from it due to the claim we made, however we never made any claim against it which we pointed out in our reply to their decision.

amersall

Hi,did the second loan repay the first and what was each loan term?.

amersall

And is the second loan still running or been repaid ?.

rightfedup

I have recently had an offer made by my bank for PPI which was sold to me, however, they have stated that there will be a tax of 20% deducted from the amount offered. I take it that this 20% is VAT tax, if that is so then i believe that VAT is not payable on Insurance payments therefore is not payable on the refund.

Does anyone know if this tax is payable or not

-taff

they can deduct 20% tax from interest payments.

peanutbutter_cups

rightfedup wrote: »

I have recently had an offer made by my bank for PPI which was sold to me, however, they have stated that there will be a tax of 20% deducted from the amount offered. I take it that this 20% is VAT tax, if that is so then i believe that VAT is not payable on Insurance payments therefore is not payable on the refund.

Does anyone know if this tax is payable or not

they will only take the 20% off of the intrest not the premiums you get back so if you get say £1000 premium refund then £1000 intrest refund they will only take £200 hope that helps xx

Nix1981

Does anyone have a telephone number for Canada Square Operations? Ive searched high and low and all ive got is the address

I claimed for PPI on an egg card, they've accepted my claim and have made me an offer but they're taking £100 off the amount for ''previous rebates paid to your loan as a result of you ppi being cancelled or would have been included as part of the settlement figure on early closure of your account''

For a start, it wasn't a loan! Secondly, I could do with someone explaining this in English!!!

Do I challenge it or just accept the amount???

Nic

amersall

Nix1981 wrote: »

Does anyone have a telephone number for Canada Square Operations? Ive searched high and low and all ive got is the address

I claimed for PPI on an egg card, they've accepted my claim and have made me an offer but they're taking £100 off the amount for ''previous rebates paid to your loan as a result of you ppi being cancelled or would have been included as part of the settlement figure on early closure of your account''

For a start, it wasn't a loan! Secondly, I could do with someone explaining this in English!!!

Do I challenge it or just accept the amount???

Nic

I would write to them and ask for proof of this rebate as this was a card and not a loan.
I can't find a phone number for these either.

amersall

ChocolateAngel wrote: »

Thank you for your reply. The first loan was Aug 2002 for £5000 and then added on was a 2nd schedule for the PPI which was £1914. The 2nd was a loan of £7000 with 2nd schedule of £2669 and that was Mar 2003. Both times my husband went into the branch after speaking to them on the phone and the paperwork was already prepared with the PPI part already added to it. They have rejected the 2nd claim saying that they feel we were adequately informed about the optionality of it. Their rejection also stated that as we had received benefit from it due to the claim we made, however we never made any claim against it which we pointed out in our reply to their decision.

Hi, with the figures of PPI for the 2 loans that you gave, it looks as if they have redressed the large loan PPI as on the small PPI loan you only paid 7 payments of PPI to this and you would not have had the redress you have got, check with the bank about this and ask for proof that you did make a claim on the PPI that they said you did, if you did not make a claim then ask them to look at this again for you.

dons1983

dons1983 wrote: »

Ok, thanks for the advice - so do I just write to Bank of Scotland in the 1st instance, saying I feel I was mid-sold the insurance (even though I've signed the box saying I want it?!), and take it from there.

Am slightly worried about repercussions, when I reclaimed bank charges they paid out, but advised they reserved the right to close my account in the future if I had any other problems.
Only problem if they were to close my account is I currently have an agreed overdraft that I use!

But is there no harm in writing to them to complain in the 1st instance?

Thanks again for any advice!

Hi - sorry to. 're-post', but could anyone answer this message for me please?

Many thanks for any advice!