PPI Reclaiming successes and failures

di3004

Well done to all the Winners.:T:beer::j

smitchy73

IANC wrote: »

That is extremely quick.

And yes, you are required to inform the revenue and if you are a basic rate taxpayer, you will need to pay 20% tax on the refund of the 8% interest only.

Don't the bank take the tax of the interest at source?:mad:

tifosi

milkeyedmender wrote: »

:j
Hi all, first time poster! I have two PPI claims with lloyds at the moment, one for a loan and one for a credit card. Anyway going through old paperwork the other day found a letter from Alliance and Leicester for a loan from 2003/04 which said I had an insurance premium on it. So, got the number from this fabulous site, gave them a ring (found out through MSE its santander) on this wed 27/7/11. Got home after work tonight and theres a letter arrived from santander offering me £1332.31!!!:):) quick or what?!?!

The breakdown of redress is:-

A total monthly premiums paid until 20 Feb 08 £927.36
B statutory interest on (a) until 31 July 11 £404.95
Total refund (a + b) £1332.31

It does say on the letter interest payment has been paid gross and is potentially taxable, do i have to inform the inland revenue?

Congrats!

Alliance and Leicester really are the shining light that show them all how it should be done timeline wise - if they can do it inside of a week, why cant the rest of them??

Also, your redress seems wrong

The 8% interest is supposed to be 8% simple, if you go

HERE

and put in your figures, based on 2004 (when your loan started and the premium was placed on the loan) it says they should be paying about £520 in interest, as opposed to the £404 you've got - ?!


But your amount sure is good news in that space of time!

:T

nutty_nat

smitchy73 wrote: »

Don't the bank take the tax of the interest at source?:mad:

I am no expert, but I thought the bank removes the 20% tax before you receive it and if you are a higher rate tax payer you have to sort out the rest. Hopefully somebody will be along soon to help out.

nutty_nat

IANC wrote: »

I wish.

Something tells me that Martin doesn't have Credit Cards or Loans, nor does he currently have claims in with HBOS for PPI lol.

I'll tell you when I have had my claim upheld.

I fear it has now been built up too much and you will be disappointed :rotfl:




You may :rotfl:

Are you still feeling lucky for Monday, August begins lets hope Barclays start paying out this month!!!!!!!!!!!!

julieprit2

milkeyedmender wrote: »

:j
Hi all, first time poster! I have two PPI claims with lloyds at the moment, one for a loan and one for a credit card. Anyway going through old paperwork the other day found a letter from Alliance and Leicester for a loan from 2003/04 which said I had an insurance premium on it. So, got the number from this fabulous site, gave them a ring (found out through MSE its santander) on this wed 27/7/11. Got home after work tonight and theres a letter arrived from santander offering me £1332.31!!!:):) quick or what?!?!

The breakdown of redress is:-

A total monthly premiums paid until 20 Feb 08 £927.36
B statutory interest on (a) until 31 July 11 £404.95
Total refund (a + b) £1332.31

It does say on the letter interest payment has been paid gross and is potentially taxable, do i have to inform the inland revenue?

Amazing!!

I actually nearly exploded there coz I saw the word Lloyds and how quick your complaint was dealt with and presumed it was with them! I've been waiting since last year to get my complaints sorted lol

Santander defo seem to be a lot quicker than most companies at settling at the minute.

Congrats again :j

boycey01

Hi all,

Just an update on my PPI complaints. Well i emailed the CEO of Lloyds last weekend due to still awaiting figures and payment from my other claim with Black Horse. Also sent him another email as i'm still waiting to receive a decision about my Halifax credit card. Thought I would also point out that they have mis-calculated the 2 loans they upheld.

Well I received an email from Black Horse saying I will receive figures and a cheque within the next week. Had a couple of missed calls from withheld number in the week, so i'm guessing that was Halifax but no voicemail left. So i re-sent that email to the CEO again yesterday.

I had a letter from Capital One when I got in from work yesterday. They are upholding my complaint, I will receive payment of £55 in 21 days. I know its not a lot but my credit limit was only £200 and I only had it a little while. So £55 is better that nothing!! :j

I also emailed CEO of Barclaycard yesterday as they now keep addressing letters to me by my middle name. I find it quite annoying as surely they have my forename on record. Would our credit agreement not be invalid if they've got the wrong name for me???

I hope the postman brings something nice for us all today! :j
Congratulations to all this weeks successes :j :beer: :j

amersall

Munro_Bagger wrote: »

• What were you reclaiming: Credit card
• Who was the provider: MINT (RBS)
• How much did you get back: £804.24 + £160.52 interest + £4.02 (>8wks to resolve 8% interest) - 80p 20% tax = £967.98
• Did you get it back after a letter or did you go to the Financial Ombudsman: Sent the questionnaire to the Customer Relations department in May 2011. Received a holding response, advising it would take 16 wks rather than 8 wks to resolve. Complaint upheld.
• And then write your brief reclaim tale: This is the fourth and final PPI success! I'm posting on behalf of my OH, who would not have had the confidence to go ahead, without the fantastic advice and support offered on this site and forum. This completely wipes out this debt. Since May, when the four questionnaires went out, he has received £4614.88. This has reduced his DMP by a considerable amount! Thank you all - you know who you are! Next stop, credit card charges!!!

:j:j:jBrilliant :T:T:T:T well done :j:money:

amersall

Egg_Chaser_12 wrote: »

MBNA

Update,
I sent a letter on 3rd May
They replied a few times and 9 weeks later requested the Questionnaire be filled in, no problems with that other than if they needed it why not ask straight away!!!!
Sent the querstionnaire in and was told they needed to scan it in before anyone could act on it
spoke to them today (12 weeks on) and they said it has finally been scanned in and somenone would contact me within a few weeks! WEEKS!!!!! I pointed out that they are supposed to sorted it out in 8 weeks!!! "SORRY sir but we have a back log of people we have been trying to ROB for the past god knows how many years before we get to your case" or something like that was the responce!!!!

Any advice as FOS says it could take a year if they get involved or should I sit tight and wait for MBNA?

Thanks in advance!

Hi there, sit tight with them ;););)

amersall

themass wrote: »

Letter today from Norton, they state they will stand by their decision and let the FOS sort it out, so now the long wait.
ive just pulled into the car park.

FOS will uphold this i am sure fingers crossed xxxx.