Santander

Prof_Ligate

dippynina wrote: »

I am expecting an offer from Genworth within the next 7 days and I hope you don't mind me asking but was it full redress including 8% statuatory interest as recommended by FOS. I only ask as I had actually read on another forum about a few people complaining about Genworth not following these guidelines and being offered less than they expected. Also I have read that they are withholding a percentage to pass to the HMRC which I hadn't heard off before and wondered if this is the case. I just don't know what to expect as it's taken me 3 years to get to this stage:eek: Thanks.

My Genworth payment had "8% simple interest per annum" added. Tax was deducted from the interest part of the payment at the 20% basic rate. I am a tax payer so it saves me the bother of needing to report it at the end of the year.

HMRC guidance on tax payable is here:

http://www.hmrc.gov.uk/news/news100512.htm

Seems tax is payable on the interest element and Genworth appear to have an obligation to deduct tax as they are not a bank or building society.

druryc

Hi All,
When referred to Genworth did you use the templates off here and did you send a copy of all the information from the 3rd Party (ie Rejection letters from Santander, and the initial PPI complaints template). Is it worth complaining to them direct and missing the FOS step out or is that a waste of time ?
Sorry for all the questions but having read all your successes on here with a complaint I though twas dead !
Cheers
Craig

Ladyinwaiting

Hi

My complaint was rejected by santander as pre 2005

I rang FOS for advice

They told me to forward the FOS form and santander rejection to genworth

Genworth have replied saying they have 8 weeks to investigate but have written to santander for premiums etc

This was in the last couple of weeks

Hope that helps

billchecker1

Hi I am new to the whole PPI thing, having never taken out the insurance on any products.

My wife, however in 2001 had a temp job after leaving school for the xmas trading period. When there the manager told her she should take a card out and the sales assistant told her that the PPI cover was not optional. The contract was only for a few months and she had no need for such cover. They knew this.

She then went on to buy clothes, kept the card after leaving and ended up in debt. In fact it was only two years ago that we paid this off. It was only a few hundred pounds which had sat on her account for 6+ years as she was just paying the minimum amount and with interest it takes time.

Anyway contacted santander who told me no and sent me her application form. I contacted FOS who told me to contact Genworth which I have now done and they have written back saying that they are writing to santander to get a full breakdown of premiums paid etc.

Is there anything I should be doing? I mean I have no idea on how many premiums or interest she paid during the ten years of her having the card.

Does this mean that genworth will simply give me an offer? Surely it cant be that easy.

Im thinking I should have got one of the claims firms invovlved as I really dont know what I am doing.

Thanks

Ladyinwaiting

Hang fire for genworth. They are not the quickest and at the beck and call of santander to ascertain premiums Paid

dazza12

billchecker1 wrote: »

Im thinking I should have got one of the claims firms invovlved as I really dont know what I am doing.

Don't! You won't be saving yourself any work by going via this route, a claims handler will only get you to do all the running around, the most they'll do is put your forms etc. in another envelope and pass it on.

What you have done already is enough, there's nothing else you can do - if Genworth need any further information they'll get in touch with you. As said, they're not the quickest.

billchecker1

Ok thanks all. I will hold fire until I hear anything.

Has anyone else got a claim going on with them at the minute?

Is the fact that this application was made pre 2005 a problem?

Ladyinwaiting

My claim was pre 2005 and settled about a week ago

dunstonh

Ladyinwaiting wrote: »

My claim was pre 2005 and settled about a week ago

Same retailer or someone else?

billchecker1

billchecker1 wrote: »

Hi I am new to the whole PPI thing, having never taken out the insurance on any products.

My wife, however in 2001 had a temp job after leaving school for the xmas trading period. When there the manager told her she should take a card out and the sales assistant told her that the PPI cover was not optional. The contract was only for a few months and she had no need for such cover. They knew this.

She then went on to buy clothes, kept the card after leaving and ended up in debt. In fact it was only two years ago that we paid this off. It was only a few hundred pounds which had sat on her account for 6+ years as she was just paying the minimum amount and with interest it takes time.

Anyway contacted santander who told me no and sent me her application form. I contacted FOS who told me to contact Genworth which I have now done and they have written back saying that they are writing to santander to get a full breakdown of premiums paid etc.

Is there anything I should be doing? I mean I have no idea on how many premiums or interest she paid during the ten years of her having the card.

Does this mean that genworth will simply give me an offer? Surely it cant be that easy.

Im thinking I should have got one of the claims firms invovlved as I really dont know what I am doing.

Thanks

Hi all,

Received a letter from Genworth today who are offering £250 with a form to ask if I want to refuse this offer.

They have calculated all the premiums and added onto it 8% interest.

Do people get nothing back for the credit interest? My wife took years to pay off the account due to paying the minimum balance (along with the premiums).

Is this what the 8% is for.

To be honest I have no idea on how much in premiums she paid. So is this ok?

Thanks