Lenders to repay £149m after paperwork blunders discovered

tifosi

PoundWise wrote: »

:money::money:I have just received a letter, from an old bank I am no longer with, advising me that I am due to the grand sum of £14,000. However, the taxman is also taking some of this from the 8% interest they are paying me. That doesn't bother me as banks are not currently paying anywhere near 8% at the moment. Thank you OFT!

14k??!!

Well done

:T

popps1

Have previous had personal loans and credit cards with quite a few on the list, all went into arrears, all paid off sometime ago thanks goodness. I didn't have an PPI but I might qualify for this only problem is I moved address and I don't have much in the way of records now? are there any no win no fee offers on this?
Thanks

[Deleted User]

popps1 wrote: »

I didn't have an PPI but I might qualify for this

If you mean qualify for a refund due to paperwork errors, you'll just have to wait and see if your Bank finds in your favour.

jenny45

does the paperwork errors only apply to customers who went into arrears on credit cards or loans


I have read article but just can not get head around it totally ...

mummybear35

Ok, so I contact Halifax, have loan with them since 2008, had a few defaults during account switching, all settled now but don't recall getting required CCA wording, the staff member had no knowledge oft ruling when I enquired - thought I was talking bout ppi! Credit card with Barclay's same term and circumstances , really hope this isn't much ado about nthng - feel its time I had a break, repaying debt for 10 yrs, fed up! !!!!!!!!:sad:

[Deleted User]

No one should be approaching their bank about this. If you are affected you will be contacted by the Bank. Otherwise, forget it.

mummybear35

I thought in cases of changed addresses we would need to contact lender otherwise how do they get letter to us? Thanks for replying, comment taken onboard

[Deleted User]

"Customers don't need to take any action as they should be contacted directly by their bank or building society shortly if their agreement is affected"

http://www.moneysavingexpert.com/news/banking/2014/03/lenders-to-repay-149m-after-paperwork-blunders-discovered

[Deleted User]

Pablo76 wrote: »

Good Afternoon Poundwise, How did you get the ball rolling??

Sounds completely unrelated to the topic of this thread-might be a PPI complaint or simply "wishful thinking" by a new poster who signed up to share news of his good fortune. It's far too soon for any payments to have been made with regard this.
I wouldn't get my hopes up for any £14K windfalls coming your way just yet , Pablo76.:)

mummybear35

Ok guys sorry if I got overexcited, news that someone already received 14k compensation over this paperwork blunder got me thinking a letter could arrive any day now, I'll put it out of my head and sure we'll know soon enough . Would appreciate if you could post if anyone gets any word particularly from Halifax loan or Barclay's cc :cool::cool: