PPI Reclaiming successes and failures

Dazzarazza

As an act of goodwill and without any admission of liabilty by the way, is what Natwest said!!

Are they right to tax me?

Twisted_Animator

claire95 wrote: »

Well done:j:j:j:T:T:T
i recived my upheld letter 2 weeks ago,nothing in the post today so hopefully tommorow, can i just ask are they paying into your account or sending a cheque, thank you and once again well done:T:T

Hi Claire

On the acceptance form you can choose any current account for it to be paid into or just get it put straight into your HSBC account. I sent my form back straight away today so hopefully it wont take too long to appear in my account.

Thanks and hope you hear soon!

:j

dan4868

Well nothing in the post today even though rbs said they had posted it 25th and cound not get through on the phone anyone else with this problem:mad:

claire95

Twisted_Animator wrote: »

Hi Claire

On the acceptance form you can choose any current account for it to be paid into or just get it put straight into your HSBC account. I sent my form back straight away today so hopefully it wont take too long to appear in my account.

Thanks and hope you hear soon!

:j

thanks hun will let you know,im going to opt for it to go staight in my account too
:T:T

mistriladi_2

Hi All

I have had responses and payout for most of my PPI claims bar 2. I received an offer letter today from RBS for £96 which is a refund of PPI charged from Aug 2001 - Feb 2002. When I called them they said that they could only go back as far as 2001 and that on their credit cards PPI is charged on your purchase amount not your outstanding balance. They're trying to say that I only made a purchase on my card for 5 months (really??) I've had my credit card since I joined them (I used to work for the b**gers) in 1988 and then cancelled my card in 2004 when I moved onto a DMP. Surely the PPI should be refunded from 1988 - 2004?

The fact that they have told me that they can go as far back as 2001 should imply that they could at least refund me from 2001 - 2004 rather than the paltry 5 months that they have offered me. When I called them they said 3 people check the statements before they make an offer and if I'm not happy I should go to the FOS.

What should I do? I don't have any copies of my statements so is it worth it? I have a feeling they're just being pig headed because they had to pay me out £12,300 on my loan (which to be honest was £4000 more than I was expecting).

What do you think I should do? Any advice is greatly appreciated.

Thanks!

DrSqueeze

Dazzarazza wrote: »

As an act of goodwill and without any admission of liabilty by the way, is what Natwest said!!

Are they right to tax me?

Congratulations on your win :beer:

Unfortunately, most interest is taxable - some banks are deducting it from the payment, others are paying gross but telling people they need to inform the tax office.

Dazzarazza

DrSqueeze wrote: »

Congratulations on your win :beer:

Unfortunately, most interest is taxable - some banks are deducting it from the payment, others are paying gross but telling people they need to inform the tax office.

Thanks for letting me know. Cheers happy with the outcome it took its time, and lets see how long it takes to receive my payout hey

tifosi

interested_81 wrote: »

Hi Tifosi
Yes the card would off been paid off numurous times through out its lifetime i know at the start the ppi would off only been few pounds as the balance would off been paid each month but the last time it was paid off in full would have been 4 years ago ! I know its quite hard too work out tbh im a bit useless when it comes too working out interest !
Thanks again for having a look

Hi,

you need to send them a Subject Acces Request for all your data and ask them to list ALL transactions for the products lifetime - that way you can get an idea what they owe you

Otherwise its just complete guess work and they could offer you anything - you wouldnt have a clue whether its right or wrong

tifosi

Dazzarazza wrote: »

SUCCESS!

Having submitted my claim about a year ago to Natwest for two loans I have been given a payout of £9226.82 as an act of "Goodwill"

Loan 1 rebate at cancellation = 646.86 offered 1627.80
loan 2 rebate at cancellation 1079.66 offered 8220.05

Total refund of ppi premium and !!! interest to date = 7654.64

gross interest added to each overpayment to date 1416.61
less 20% tax 283.32
=1133.29

STAY interest val
additional gross interest for delay = 548.62
less 20% tax 109.73
Net interest = 438.89

Bloody chuffed!!! Only thing I didnt know was that we would get taxed on this??? I am sure I didnt get taxed with my EGG claim payment.. perhaps I cant remember as it was over a year ago...

Hi,

not all banks take the interest off, leaving you to pay the tax yourself, but some tax it at source

The figures look quite odd

What were the actual loan amounts, how long ago and over what term (in months)?

tifosi

mistriladi wrote: »

(RBS)

and that on their credit cards PPI is charged on your purchase amount not your outstanding balance. They're trying to say that I only made a purchase on my card for 5 months (really??) I've had my credit card since I joined them (I used to work for the b**gers) in 1988 and then cancelled my card in 2004 when I moved onto a DMP. Surely the PPI should be refunded from 1988 - 2004?

Hi,

I'd be inclined to call them back and ask for a copy of the T and C's for the PPI - I find this "PPI on purchases only" line VERY hard to believe

What would be the point in insurance that only covers one section of the balance owing?

Do you have any statements?

If not, might be worth trying a SAR

Unfortunately if you dont have a record of the statements its going to be hard going to get them to stump up more