PPI Halifax No credit agreement

chrisjohno

Hi,

I'm having a problem with halifax and needed some advice,
I have recently put in a PPI complaint with the halifax after finding out that I had PPI on the account.

Halifax have contacted me and told me that because my account was closed in 2003 they don't have the loan agreement any more but can see that I did have PPI on the account. They then informed me that, they will try to work out the total amount owed to me through other means??

My problem is that from what I can work out the only way of knowing how much PPI I paid is by having the loan agreement as everyone can pay different rates?? So when they come back with an offer how will I know weather its fair or not??

Thanks for any advice

Chris

dunstonh

My problem is that from what I can work out the only way of knowing how much PPI I paid is by having the loan agreement as everyone can pay different rates??

No. That is not correct. With credit cards, it is near impossible to work out and most just refuse to pay anything. However, with loans, the figure is a percentage of the amount borrowed based on the term of the loan. So, they can retrospectively work it out.

So when they come back with an offer how will I know weather its fair or not??

You dont. you take it or leave it.

chrisjohno

Thanks for replies so fast,

So is there no way of me being able to find out how much I paid?? And how will the halifax know what percentage I paid If there is no loan agreement.
I take it will be a best guess kind of offer then?

Thanks

chrisjohno

A bit more info as you seem to know a lot about this

I took the loan out in 2000 and paid it back in full in 2003 so the loan was for 3 years.

The monthly payment was 60.54 a month so I paid a total of 2179.44 over the 3 years not sure if this information will help anyone but I'm at a lost and need all the help I can get

Thanks

Pink1808

When I took my loan out they charged PPI at 15.2%
then added interest to the loan amount and PPI amount, if thats any help?

pandas123

My husband is in a similar situation and i just presumed as he took a credit card out with HSBC and they dont hold the credit agreement any longer that our claim would be thrown out. Is this the case? They have sent us a list of PPI transactions from 2005 -2013 jan when we shut the account down and then realised he had been paying it all this time. Totals nearly £4k + interest. Any suggestions on where i go from here. Do i get back in touch with them and say we feel he was still missold this and it is for them to prove otherwise? Any help be great. I am a newby to this site so be nice to me people. thanks x

dunstonh

My husband is in a similar situation and i just presumed as he took a credit card out with HSBC and they dont hold the credit agreement any longer that our claim would be thrown out. Is this the case?

The credit agreement is not required in a PPI complaint and serves no purpose.

Do i get back in touch with them and say we feel he was still missold this and it is for them to prove otherwise?

They do not need to prove otherwise. That is not how UK law works.

You give your reasons for complaint and supply any evidence you have to support your allegations. Some things dont need evidence but some things will. It really depends on what your reasons for complaint are.

societys_child

Any PPI would have been listed separately on every monthly statement (which had a balance) You must have seen this?
If no balance on the card you wouldn't have paid any PPI that month.

Do i get back in touch with them and say we feel he was still missold this and it is for them to prove otherwise?

What is your reason for a mis-sale complaint?
If you accuse the bank of wrongdoing, it's up to you to prove it.