PPI Reclaiming successes and failures

sunny8_2

Loving_Pandora wrote: »

Hello All

I am new to posting but have followed the PPI threads for a long time. You have all been a great help and I just wanted to tell you my story.

3 claims made to M & S, 2 loans (2001 & 2003 and chargecard.)
Put in claims 26 May 2011
Reply received dated 3 June 2011 telling me they were investigating and they had 16 weeks to respond.
Letter received dated 18 August 2011 saying they had upheld my complaints fro mis-selling and I would hear from them again within 5 weeks confirming the amounts they would repay. They also confirmed they would be paying interest and the 8%.
Received letter yesterday dated 5 September confirming

---

Loan 2001 - £1850 refund inclusive
Loan 2003 - £3490 refund inclusive
Chargecard - £1166 refund inclusive (8% not applicable on chargecard)

Total £6500 :j

Need to sign acceptance, and refund cheques will be sent within 8 weeks. Hoping to receive the cheques before then as they have kept well within their predicted timescales.

As you can imagine I am over the moon :Tas I really thought that M & S would be difficult to claim from, particulalry as there is not much information about claims with them on this site. So all you asking questions about M & S - hang on in there.

Have also claimed for two loans with Barclays back to 2001 & 2002, and their 16 weeks are up on 29 September. Also Barclaycard, and their 16 weeks are up on 20 October.

Will keep you posted (but not holding out much hope on Barclaycard after reading some of your posts)

Wow...congratulations!!:T:Txx

sunny8_2

TommyTV wrote: »

After my success claiming back over £11,000 from Lloyds TSB, a week later I got a response from NatWest offerng me £14,700. What a result. Without the guiiodance from this website I probably wouldn't have bothered, as I didn't think I'd get much back. I hadn't realised that they have to put you back in position you would have been without the PPI, so all the additional interest you paid because the PPI was added to you monthly statement before the interest was calculated, you get that back too, which at 26% is a tidy sum. Also any penalties added to your account due to PPI taking you over your credit limit are also returned, all with an additional 8% simple interest.
Don't give up, you'll get there in the end.
Now I'm going to work on an Egg.
Card that is!

Wow..congratulations!:T:Txx

chasfhu

thought i would share the happy news i got today, i managed to claim back my missold ppi from the Clydesdale. All in it took 10 weeks and i could not have done it without the help from here and i am so glad i never got one of those companies to do it for me as it was so easy.:j

Anyway i had 2 loans and they gave me the following breakdown

loan 1
ppi refund £1233.59
8% interest £787.79
total £2021.38

loan 2

ppi refund £4673.09
8% interest £1362.75

total £ 6035.84

So over 8 grand back for the cost of a stamp:D

One question the letter talks about tax maybe payable in the interest refund, is this correct and how much will i have to give the tax man and do i need to tell them?

Once again many thanks to all you folks on here:beer:

smitchy73

sunny8 wrote: »

Ohh, come on smitchy...give yourself a break..you cant diet AND give up alcohol at the same time!!:rotfl:

I know, claiming PPI back has so may advantages...so glad this site is here!!:money::money::T:Txx

awww thank you sunny, no i've not given up alcohol for dieting purposes just don't drink anymore, old man liked his whisky and beer too much, and I scared myself a couple of times too many, so better to abstain that do that to myself, the wife or the kids, I was 22 stone at one point too, but over the past couple of months, well up till last weekend, I was 2lbs short of 2 stone loss, which is fantastic, I do have the odd treat, was worse when the fridge freezer was out of commision, meaning takeaways 2/3 times a week, but new freezer and fridge is now full and loads of home cooking done by my fair hands this week, helped even more that I've been off all week.
Wow is that too much for on here?:D:beer:

smitchy73

chasfhu wrote: »

thought i would share the happy news i got today, i managed to claim back my missold ppi from the Clydesdale. All in it took 10 weeks and i could not have done it without the help from here and i am so glad i never got one of those companies to do it for me as it was so easy.:j

Anyway i had 2 loans and they gave me the following breakdown

loan 1
ppi refund £1233.59
8% interest £787.79
total £2021.38

loan 2

ppi refund £4673.09
8% interest £1362.75

total £ 6035.84

So over 8 grand back for the cost of a stamp:D

One question the letter talks about tax maybe payable in the interest refund, is this correct and how much will i have to give the tax man and do i need to tell them?

Once again many thanks to all you folks on here:beer:

Fantastic chas, brilliant result.

I had the refund in from them last week, just over £5.5k.

Unfortunately they are paying the interest gross, so therefore you have to inform HMRC, if you work they will give you a new tax code , but, this is the important part, they only take the tax off the 8% simple interest, not the whole lot, so for you it should be about £400 to come off. If you don't advise HMRC I think they will contact the banks and ask for lists of people who have been refunded and chase you, my OH was advised that people who don't report it and get found out will be subject to penalties.

If you don't work I think they'll probably want it to be paid in the one payment, or if you normally fill in a tax return you include it on that.

They'd take it off you one way or the other and unfortunately and I hate to agree it's best to do it straight away, my OH only told them last Friday and tax code was changed through her work on Wednesday, worst bit was they worked out what was due back and divided it into the year so it worked out about £6 a week, which they then back dated to the start of the tax year so they took a lump of £170 but still her wage reduces about £6 a week till April and that will be it sorted.

Scotty1.7

Quick update

MBNA- Being re looked into as it maybe a little on the low side and will advise if they owe me any more

Co-Op- Advised they will uphold and a letter was sent yesterday so awaiting the figures and details

Welcome- No news yet about the details of this

RBS- Still waiting for the details if there is any claim here which maybe.

di3004

Wow more winners since I posted earlier today! :T:T:T

Congratulations to you all! :beer::beer::beer::beer::beer::beer::beer::beer::beer:

nutty_nat

di3004 wrote: »

Wow more winners since I posted earlier today! :T:T:T

Congratulations to you all! :beer::beer::beer::beer::beer::beer::beer::beer::beer:

It's lovely to see you on here hun have you been really busy?

nutty_nat

Some advice please my 16 weeks are up on Tuesday with Firstpus do I e-mail Mr Diamond, what is the best route to go please.

Red_peppers

nutty_nat wrote: »

Some advice please my 16 weeks are up on Tuesday with Firstpus do I e-mail Mr Diamond, what is the best route to go please.

Hi NN,

We promised to keep each other updated on our cases. Well my 16 weeks finished today and I came home to zero post!

The last letter I received told me I would hear by the 12th August (while I was away) but I heard nothing, so on around the 25th I rang FP.

A very nice man took my call and apologised that I was not being kept up to date with the progress - then explained 16 weeks, extra time etc.

I said fair enough but if I gave him my policy number could he see what stage it was at, he looked and said it had started being looked at the day before and the 16 weeks would be up on the 9th of September by when a decision would be made.

So, I'm guessing they've printed a letter today and it will sit in an out tray until Monday before being posted. If I've not received anything by next Wednesday I shall be making a phone call!!

Fingers crossed