PPI Reclaiming Discussion Part 5

nicky92

Hi all my husband has been offered a refund from the halifax after an appeal to the financial ombudsman they have added 8% interest but not on the total owed but where the account would of been in credit. as this was for a credit card he wouldn't have been in credit so shouldn't the interest be on the total amount owed? Anyone any ideas?

-taff

nicky92 wrote: »

Hi all my husband has been offered a refund from the halifax after an appeal to the financial ombudsman they have added 8% interest but not on the total owed but where the account would of been in credit. as this was for a credit card he wouldn't have been in credit so shouldn't the interest be on the total amount owed? Anyone any ideas?

They are correct. That is the way it's worked out on credit cards. With loan PPI it's worked out on the total amount because the total amount is added at the start of the loan. With CC PPI, it's added on anything that would have been in credit.

Jonathan_Merrick

I contacted Santander about an Alliance & Leicester loan I took out in 2006. I settled early in May 2007 so I certainly did not want PPI as it doubled the cost of the loan. Although I did not have the policy I sent Santander the record of my loan from my Experian report in January 2013 - i.e 4 months before the 6 year deadline expired. They have stalled saying they can find no record of the loan and now the 6 years from settlement is up it has been removed from my Experian report although I do have a hard copy of the report pre-dating expiry. Just received another letter from Santander saying that they will not be able to verify the loan now the 6 years is up (which it is now of course!). Is the Ombudsman the next step?!

mrsbowie

I finally bit the bullet on Monday and rang Lloyd's tsb to reclaim PPI. I started getting bank loans approx 15 years ago, generally I renewed them half way through. At the time I was on tax credits and worked part time, when I took the loans I was always talked into having PPI even though I had the back up of tax credits and didn't really understand PPI, I told the guy this when I rang. I,be received a letter today with all the loan reference numbers on and I have had 10 loans, the letter just say my claim should take about 8 weeks and they will ring me for more info. Any advice appreciated please, also am I in with a chance? Most of the loans were for under £5k. Thanks

amersall

Jonathan_Merrick wrote: »

I contacted Santander about an Alliance & Leicester loan I took out in 2006. I settled early in May 2007 so I certainly did not want PPI as it doubled the cost of the loan. Although I did not have the policy I sent Santander the record of my loan from my Experian report in January 2013 - i.e 4 months before the 6 year deadline expired. They have stalled saying they can find no record of the loan and now the 6 years from settlement is up it has been removed from my Experian report although I do have a hard copy of the report pre-dating expiry. Just received another letter from Santander saying that they will not be able to verify the loan now the 6 years is up (which it is now of course!). Is the Ombudsman the next step?!

You could send a Sar request, enclose £10 and give them 40 days to respond, ask for all info they hold on you, if you get no joy with this then send it to FOS.
Had Santander responded sooner, it is possible they would still hold the info.
The 6 year deadline is not exact, some keep info for longer than this, claims have been won with loans from 90s, do you have any other info regarding this loan that would help them?.
https://forums.moneysavingexpert.com/discussion/1475553

amersall

mrsbowie wrote: »

I finally bit the bullet on Monday and rang Lloyd's tsb to reclaim PPI. I started getting bank loans approx 15 years ago, generally I renewed them half way through. At the time I was on tax credits and worked part time, when I took the loans I was always talked into having PPI even though I had the back up of tax credits and didn't really understand PPI, I told the guy this when I rang. I,be received a letter today with all the loan reference numbers on and I have had 10 loans, the letter just say my claim should take about 8 weeks and they will ring me for more info. Any advice appreciated please, also am I in with a chance? Most of the loans were for under £5k. Thanks

As these were consolidation loans they should redress all of them if you were mis sold and they still hold all the info on these, it is possible due to the time that has elapsed they only have details for some and not all of these, hopefully they will redress all, fingers crossed.

nicky92

-taff wrote: »

They are correct. That is the way it's worked out on credit cards. With loan PPI it's worked out on the total amount because the total amount is added at the start of the loan. With CC PPI, it's added on anything that would have been in credit.

I see but i thought the interest was on the payments you had made. Is that not correct?

-taff

Yes, the interest would be on the PPI payments if by adding the PPI payments to the credit card, you would have been in credit at any time.
http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/redress.html

oldhamer

hi guys

anyone had a recent communication with mbna?

I had the standard form to fill in and duly sent back ,a week later I had series of text messages asking me to ring them I wasn't sure if it was a scam at first!
eventually I did ring them and went through a long winded process of identification with at the time un answerable questions enevitably I failed the identification process and was told that they would write to me with the questions they needed to get answers for

today I have received a letter telling me that I failed the identification process and my claim has been cancelled and to take it to the ombudsman

just wondering if anyone else has had the same fob off?

Stuart_c_2

Hi guys,

I had 2 credit cards with the Halifax from 2004, these were then passed on to recoveries in 2010 and 2011 respectively.
I didn't actualy ask for the 2nd card, I in fact lost my original card and was sent a new card with a new account and credit limit.

I could not make the payments on these cards on many occassions and incurred multipule fines and over limit fee's for years hence it was passed on to recovery companies. These 2 cards totaled about £4,000 or so, to which I have nearly payed off with the help of a debt management company. I believe I have paid 1000's in charges over this period of time.


I was self empolyed when the policy was taken out and for a number of years afterwards and did lose my job regularly due to being self employed. When the Halifax was chasing me for the money I owed I explained that I had lost my job etc and they never told me I was covered with PPi as I never knew I had it, so I continued to pay fines etc.

I contacted the Halifax and began a complait to which they said I had been paying PPI the whole time on both cards. I have just recieved a letter from them as a 'final response' they have offererd me a payment of £238 to 'bring this complaint to a conclusion'.

Does this amount seem correct? It seems a little on the low side if I was paying monthly premiums for 6 years on 2 cards.

I would be grateful of any advice.