PPI Reclaiming successes and failures

computerbuddy

Hi, am currently using Gladstone Brookes for 2 loans with the Natwest and my credit card. They have been okay at the moment keeping me upto date with any correspondence. But the thing is i couldn't pay my cc due to lack of funds so the natwest cc people say they will accept £1 per month and to be reviewed in 6 months time and recently i received a letter from them saying they have cancelled my payment protection with the card. Gladstone had already put in the complaint before i got into financial difficulty on the cc. Where do i stand now on this matter and will gladstone be aware of this? Since i have read some of the stories on this site i decided to go it alone with other companies. Thanks in advace x

amersall

moggy2009 wrote: »

hi there i noticed on a letter i got regarding my offer i noticed that it says the interest payment has been paid gross and is potentially taxable therefore you may need to inform the inland revenue anybody know what thats all about please

I believe if you work and the interest you got on the refund takes you over your tax code, you have to pay tax on this.
Hopefully someone who knows more about this will confirm.
I had 9 wins and did not pay tax on any interest.

The_Marksman

amersall wrote: »

I believe if you work and the interest you got on the refund takes you over your tax code, you have to pay tax on this.
Hopefully someone who knows more about this will confirm.
I had 9 wins and did not pay tax on any interest.

:jwell done on your magic 9 Amersall:j

moggy2009

amersall wrote: »

I believe if you work and the interest you got on the refund takes you over your tax code, you have to pay tax on this.
Hopefully someone who knows more about this will confirm.
I had 9 wins and did not pay tax on any interest.

it was only £20 interst so i doubt it:p

The_Marksman

moggy2009 wrote: »

it was only £20 interst so i doubt it:p

run and hide run and hide pmsl:D

h0pusp0pus

morning guys anyone noticed a shortage of success stories lately ?? seems to be alot more people waiting at the momment and not alot getting good news ,mmmmmm

mummum2

I haven't participated in this thread, but been reading and reading and following on from all the excellent advice and those getting back their PPI, I took the decision a couple of weeks ago to download the form, fill it out and send to all my creditors, (on DMP for almost 4 years). Had loan with Lloyds and Northern Rock, which paid out a large amount early last year! balance taken off outstanding amount. Started with debt of £64K, managed to get this down to £43K before Lloyds and N/R ppi payment, after they paid out balance went to £34K, of course still paying my monthly DMP payments! Balance stood at just under £28K this time yesterday! with 2.8 months to finish, according to my spreadsheet!

So onto the credit cards...I have/had (don't use credit cards now and haven't since before enbarking on DMP) the following credit cards which had PPI on : Egg, Nationwide, MBNA, Abbey, Lloyds, Cahoot. Forms sent without letters! received notification from Egg, Lloyds and Cahoot last week acknowledgeing that they are sorry that I have cause for complaint, but will look into it, pass to the appropriate person(s) and will get back to me in due course. No acknowledge from the others as yet.

I digress! lol: Arrived home yesterday evening to a letter from Egg, stating that they have looked into my complaint and upheld it, so repaying all as follows:
CRP premiums paid £2,863.54
Refund of interest at card rate £ 154.23
Refund of interest at the rate of 8% £ 906.47
Total refund due £3,924.34

Balance now owing egg is just under £600.

This will be taken off what I still own them taking my DMP to around £24K.......so happy, would of been nice to get the actual money, but a great victory!

If all the others are as prompt and pay out without hassle! I could potentially have a balance on my DMP which would enable me to come away from it as MBNA, Abbey and Cahoot could be wiped off with money coming to me as these balances are smallish! so my 2.8 years could reduce to 1 year or less, as I pay almost £800 per month on my DMP!

Keep at it people, Di and all the others who are awersome 'managers' of this thread, thank you so very much and of course Martin for everything.

I do have a question though! from the one that I haven't had an acknowlegement should I get in touch with them or leave for longer time?

Thanks, didn't mean to write an essay!

MM2

amersall

The_Marksman wrote: »

:jwell done on your magic 9 Amersall:j

Cheers chuck x.

amersall

moggy2009 wrote: »

it was only £20 interst so i doubt it:p

Thats ok then :cool:

amersall

computerbuddy wrote: »

Hi, am currently using Gladstone Brookes for 2 loans with the Natwest and my credit card. They have been okay at the moment keeping me upto date with any correspondence. But the thing is i couldn't pay my cc due to lack of funds so the natwest cc people say they will accept £1 per month and to be reviewed in 6 months time and recently i received a letter from them saying they have cancelled my payment protection with the card. Gladstone had already put in the complaint before i got into financial difficulty on the cc. Where do i stand now on this matter and will gladstone be aware of this? Since i have read some of the stories on this site i decided to go it alone with other companies. Thanks in advace x

This will not affect your claim, although the redress will be taken off your card, so you will have a bill from Gladstones.
Look on the bright side though, the claims you have done yourself you will get.