PPI Reclaiming successes and failures

Mrsbowbow

I can't believe the letter I had yesterday through the post.

MBNA have withheld my compliant against Missold PPI going back to a credit card that started in 1999 and is still on going.
I have won back £13,387 :j some will clear my credit card and the rest by cheque. I phoned them to double check it was right as I haven't a clue how they work these thing out and was told it's correct and the amount will clear my credit card.

Do I need to let inland revenue know even though alot of it is going to clear credit cards ???

I can't believe within 2 weeks I have had 2 wins NR and MBNA all thanks to this site :T

magpiecottage

Mrsbowbow wrote: »

Do I need to let inland revenue know even though alot of it is going to clear credit cards ???

I can't believe within 2 weeks I have had 2 wins NR and MBNA all thanks to this site

There will be two components. The first is redress for costs you incurred as a result of the missale. That is not taxable.

The other is interest on the redress from when the costs were incurred until now. That is taxable. Banks normally deduct basic rate tax from that and pass it to HMRC. They will provide a certificate of the tax paid. You will then need to settle up with HMRC in respect of any under or overpayment.

Small firms intermediaries, will not do normally do this but should confirm how much interest has been added to arrive at the final figure so again you can inform HMRC of this.

di3004

Mrsbowbow wrote: »

I can't believe the letter I had yesterday through the post.

MBNA have withheld my compliant against Missold PPI going back to a credit card that started in 1999 and is still on going.
I have won back £13,387 :j some will clear my credit card and the rest by cheque. I phoned them to double check it was right as I haven't a clue how they work these thing out and was told it's correct and the amount will clear my credit card.

Do I need to let inland revenue know even though alot of it is going to clear credit cards ???

I can't believe within 2 weeks I have had 2 wins NR and MBNA all thanks to this site :T

Hiya

Wow, well done and Congratulations!:beer:

I am not absolutely sure, but it maybe depending on a certain amount, think someone will know, amersall I think who I'm sure will be along soon, again well done!;)

BimalGandhi

Hi
I have a Mortgage Repayment Insurance(MRI) bought when I took out a mortage with Halifax since 1999, and still paying. I have not cliamed anything nor I am not sure what I can claim.

Question- Is this a PPI disguised as a MRI? How do I claim and get the paper-work on this? Do I or Can I use the same template as the PPI? Any help will be appreciated.

di3004

BimalGandhi wrote: »

Hi
I have a Mortgage Repayment Insurance(MRI) bought when I took out a mortage with Halifax since 1999, and still paying. I have not cliamed anything nor I am not sure what I can claim.

Question- Is this a PPI disguised as a MRI? How do I claim and get the paper-work on this? Do I or Can I use the same template as the PPI? Any help will be appreciated.

Hi there
I will post a link to a new/separate thread - its still within the reclaiming threads, but I'm sure dunstonh and or magpiecottage will be able to help in regards of mortgage ppi.
Title it "Mortgage ppi reclaim help", they won't miss it then, good luck on your reclaiming.;)
http://forums.moneysavingexpert.com/newthread.php?do=newthread&f=169

amersall

BimalGandhi wrote: »

Hi
I have a Mortgage Repayment Insurance(MRI) bought when I took out a mortage with Halifax since 1999, and still paying. I have not cliamed anything nor I am not sure what I can claim.

Question- Is this a PPI disguised as a MRI? How do I claim and get the paper-work on this? Do I or Can I use the same template as the PPI? Any help will be appreciated.

I am sure our "resident" experts, Magpie cottage and Dunstonh will be along to help you with this.

amersall

Mrsbowbow wrote: »

I can't believe the letter I had yesterday through the post.

MBNA have withheld my compliant against Missold PPI going back to a credit card that started in 1999 and is still on going.
I have won back £13,387 :j some will clear my credit card and the rest by cheque. I phoned them to double check it was right as I haven't a clue how they work these thing out and was told it's correct and the amount will clear my credit card.

Do I need to let inland revenue know even though alot of it is going to clear credit cards ???

I can't believe within 2 weeks I have had 2 wins NR and MBNA all thanks to this site :T

:beer:Well done and congrats :money:
I see your question about tax has been answered.

odd_socks

Well done to everyone who has won their claim :beer:

shellbo10

Mrsbowbow wrote: »

I can't believe the letter I had yesterday through the post.

MBNA have withheld my compliant against Missold PPI going back to a credit card that started in 1999 and is still on going.
I have won back £13,387 :j some will clear my credit card and the rest by cheque. I phoned them to double check it was right as I haven't a clue how they work these thing out and was told it's correct and the amount will clear my credit card.

Do I need to let inland revenue know even though alot of it is going to clear credit cards ???

I can't believe within 2 weeks I have had 2 wins NR and MBNA all thanks to this site :T

Hi Weldone for your win,how long did you have to wait for your result ?

Mrsbowbow

shellbo10 wrote: »

Hi Weldone for your win,how long did you have to wait for your result ?

HI, I started the complaint with MBNA beginning of March. I had 3 letters stating they were still investigating. I made 2 phone calls chasing them, then on Friday had my descision.
I would definetly hold on in there if possible rather than going to FOS apparently their waiting time is very long.