PPI Reclaiming Discussion Part 5

[Deleted User]

SteveL555 wrote: »

First Direct have said "if you wish to register a formal complaint please tell us why you beleive the PPI was mis-sold."

That's all you need to do.

You don't need terms and conditions or the amounts involved. Why would you need to how much you paid? If your complaint is successful you'll receive a full refund plus interest.

You don't need a SAR to confirm what the Bank have already acknowledged.

Plevin is irrelevant at this stage regardless of the year.

You can't make both a retrospective claim on the insurance as well as making a complaint that the policy was mis-sold.

Simply identify why you think the PPI was mis-sold and communicate this to the bank.

bongo6

Hi,

I have recently made a couple of claims with santander (Debenhams & BHS store cards) both successful, both around £1,400. I decided to claim online with barclaycardfor which I had a card in the early 1990's, They have upheld my claim BUTsay that they are unable to accurately calculate my refund as they have been unable to find any record of my premiums!

They go on to say " as it is missing we will use an average value for the premiums paid, the average interest paid on premiums and the average value of interest paid to customers as statutory compensation".

They have "AVERAGED" the payments to be £103.25
average charge on comparable policy £ 55.75
Statutory Compensation £ 64.58
Income Tax £ 12.91

Total Payable £210.67

Compared to the other cards which where only store cards, This seems very low. It seems that the AVERAGE" they use is the lowest they can possibly get away with, Is there anything I can do without any paperwork to dispute this amount?

Thanks
Vince

[Deleted User]

bongo6 wrote: »

It seems that the AVERAGE" they use is the lowest they can possibly get away with, Is there anything I can do without any paperwork to dispute this amount?

It's not the "lowest possible amount", it's an average payout likely for an average customer over the period in question. Of course, they (and you) are handicapped by no longer having records and the payouts which you received from your other PPI are completely irrelevant, I'm afraid.

It's entirely possible you paid a lot more than you are being recompensed, but conversely you could have paid a lot less.

So the answer is that you cannot challenge the payout unless you can provide documentary evidence that you paid more.

bongo6

Hi,

Thanks for the quick reply, I suppose anything is better than nothing.

Thanks Again
Vince Long

amersall

SteveL555

Oh, and now I think about it, I was made redundant twice in this period when my employers went bust (2000 and 2003) -

Surely, had you known you had cover, you would have made a claim on the policy when made redundant?.
This is a good reason for mis sale, they may ask for proof of this, don't suppose you have proof?, they may ask for it.

SteveL555

thanks for the prompt reply MoneyIneptitude

- that's my issue though - I have no idea whether it was miss-sold or not; I don't remember specifically taking out any of the loans or credit cards. I might or might not have asked for the PPI (I might or might not've been aware of it). All I know is that I had it.

So I'm not sure what I'd be making a complaint about / why I'd claim miss-selling.

(apologies if I've being stupid, and thank you again for your time)

KatherineH

Hi,
I'm not sure if I'm posting in the correct spot! But hoping for some advice. I had a PPI settlement 5 years ago. At the time I was told that £748 of the settlement was taxable. However I forgot all about it. I want to settle this amount now but am worried if I will be charged interest by HMRC on this amount. Has anyone got any advice?
Many thanks

[Deleted User]

KatherineH wrote: »

I want to settle this amount now but am worried if I will be charged interest by HMRC on this amount. Has anyone got any advice?

Contact HMRC.

[Deleted User]

SteveL555 wrote: »

- I have no idea whether it was miss-sold or not; I don't remember specifically taking out any of the loans or credit cards. I might or might not have asked for the PPI

Only you can determine if you were mis-sold or not. Plenty of examples of how PPI was mis-sold are listed on the MSE main site help article. If any apply to you, then complain.

SteveL555

thank you Amersall

I can prove the two companies I was working for filed for insolvency (that'll still be at Companies House) - possibly still got payslips running up to the redundancies, but I was banking with First Direct at the time, so if they have records of my current account they'll have records of my salary coming in, then stopping abruptly.

Seems sensible to throw that in. As you say, if I didn't claim, then presumably I didn't know. Though I can't be 100% that the PPI I had overlapped with the two redundancies.

thank you again

Steve