PPI Reclaiming Discussion Part 5

dunstonh

bentleypug wrote: »

Hi

my husband had a car loan over 15 years ago and we have no idea who the lender was but believe we had PPI how can i go about reclaiming? im tempted to use a PPI company as i have no idea of any details... i also had loans from banks years ago too

You complain to the car dealer that sold you the PPI. However, do note that most car dealers were not regulated until January 2005. So, 15 years ago is pre-regulation. They wont have to consider a pre 2005 sale complaint unless they were agents of the lender.

Nasqueron

bentleypug wrote: »

Hi

my husband had a car loan over 15 years ago and we have no idea who the lender was but believe we had PPI how can i go about reclaiming? im tempted to use a PPI company as i have no idea of any details... i also had loans from banks years ago too

Please understand despite their lies, PPI companies have no special powers, if you don't know who you bought from, neither will the PPI company. There is no database of finance. They will simply ask you to tell them and then put in the complaint for you

newbs68

My husband and I made a PPI complaint to LLoyds for loans and credit cards we've had between 1986 and 2006. Filled the very simple form in online. They sent us paperwork to fill in but we never got round to it. They then texted us to say they were working on our complaint and made one phonecall to my husband.

Three weeks later and I've had a payment of £214 but my husband has a letter telling him he is due £8200!!!!!

Great...except we claim working and child tax credits and I know we have to declare the interest part of the compensation to HMRC.
I'm having trouble figuring out which this is. Will Lloyds be able to clarify for me which bit I need, do you think? Or should I ring the tax office as I know the Tax Credits Helpline is anything but helpful?

[Deleted User]

The Bank will normally deduct the tax prior to paying you the redress. You won't have to subsequently declare it.

newbs68

The tax, yes and it's plain to see they've done so. But for tax credits the interest on the claim is counted as savings and therefore counts as income.

grahamm123

I have just had an offer from RBS of a total of £67 for miss-sold PPI on a mortgage between 1992 and 2003. This amount also includes the interest at 8% with the original amount being less than £30. I had a mortgage for about 90k. Does this sound right? Another question I wanted to ask is, what did banks, on average charge for PPI on Mortgages? Was it say 1% of your mortgage amount? Any ideas wold be really appreciated please?

[Deleted User]

If they've refunded only £30 prior to adding interest, it sounds like you must have cancelled the insurance (after one payment? )

How do the Banks explain your refund? What is the breakdown?

grahamm123

Thanks for your reply. I haven't gone down that route to ask them for a breakdown. The letter from them is for me to accept the amount, or not, as I am thinking of doing. Unfortunately, as this is such a long time ago, I have no record of whether I did cancel very early into the mortgage. I will take your advice and ask the question. Do you have any idea about how the banks came to have much to charge for the PPI on a mortgage please?

[Deleted User]

How much they might have charged is irrelevant. You will only ever receive a a refund of the amount you actually paid.

Ask the question of how much you paid...

mrpipps

hi to everyone,
i'm new to the site and just want to know if anyone can help me with information.
i was awarded £10,700 ppi fees by the bank for the period 1998 to 2002 today,but because i went bankrupt in approx 2008 6 years later they've paid it directly to the official receiver.
my bankruptcy was discharged after 1 year.
what i cant understand is they owed me ppi for the period 6 years before i went bankrupt and if they had not charged me £10,000 ppi without my knowledge i woud'nt have had to go bankrupt or if i'd have had my £10.000 back sooner i could have used it to pay my loans and avoided bankrupcy?
does anyone have any advice that could help me get my ppi funds back or know of anything i can do,because i feel i'm being cheated,how can i owe money 6 years before i went bankrupt? regards jeanette