PPI Reclaiming successes and failures

hunnyluvinbear

hunnyluvinbear wrote: »

Total amount of PPI since sold: £10'202.91
Total Interest for PPI premiums : £21'241.42
8% Interest :£1'828.70
Total payable £33'273.03

So just pay tax on the £1828.70 ?
Assuming MBNA have paid the tax on the £21k?
I think I'll wait till we get the cheque in our hands before I contact them....in case they change their mind!!!!!:rotfl:

hunnyluvinbear

smitchy73 wrote: »

Yes there should be clear instructions in your redress letter telling you about the 8% simple interest. They should tell you if they are paying you this 'gross' of tax, which means you have to speak to HMRC, or if it is being given to you 'Net' of tax which means the bank will pay the tax from your 8%.:D

There was no mention of whether it was gross or net. They just called it interest. not 'simple' interest.

dilus

As far as I understand it yes, just declare the £1828.70 to the tax man and ONLY if it has been paid GROSS.
Like you say get your cheque first and read any literature that comes with it, if you are still not sure phone them then. I am reading that HMRC will almost definitely be contacting banks that have paid out gross asking for names of recipients. It's better to declare it than have them on your case.

hunnyluvinbear

dilus wrote: »

As far as I understand it yes, just declare the £1828.70 to the tax man and ONLY if it has been paid GROSS.
Like you say get your cheque first and read any literature that comes with it, if you are still not sure phone them then. I am reading that HMRC will almost definitely be contacting banks that have paid out gross asking for names of recipients. It's better to declare it than have them on your case.

Thank you Dilus. That's cleared that up for me.:T

hunnyluvinbear

smitchy73 wrote: »

Make sure you let me know first if I owe you:rotfl::rotfl:

We live at opposite ends of the country.. The chance of us meeting in a dark alley is quite remote I would think.:D Your safe!

smitchy73

hunnyluvinbear wrote: »

We live at opposite ends of the country.. The chance of us meeting in a dark alley is quite remote I would think.:D Your safe!

awww shame, I can travel, lol:D;)

pineapple123

pineapple123 wrote: »

Hi
Just after some advice from you guys regarding mis sold PPI's Have only started to take note of whats its all about and need some help. Have looked on Martins page and on here but just needs abit of help.

Briefly Hubby had a PPI from peugeot financial services(administered by london general holding) 2003 for 6 years I believe looking at the paperwork I have it was missold so who do we need to contact.
also Hubby has ppi on 2 bank loans in 2006 (? when started and finished) and 2 CC stopped last year.
I have details of CC but not of loans , I think he was missold on these also, can he claim on the loans and how would he go about it.
Sorry for so many questions, He may get nothing back but i suppose its worth trying for.
Any reply will be great. Thanks.

Sorry can anyone advise please.

sunny8_2

nutty_nat wrote: »

morning nutty nat, well done on your win too, don't think i managed to get a word in when you posted your win.
What have you got planned for yours?:D(just being a nosey b***er;)

Thank you Smitchy I still can't believe it, my son is seventeen in October so a car for him. Pay off my credit card, decorate my bedroom, new carpet and bed Phew!!!!!!!!!! I still have the original part of my loan logged with the FOS the ppi I had on that on was £10,000 and Central Trust only offered me £2000 for that one, so it has made me feel a little more hopeful for that case. [/QUOTE]


Hia Nat, i didnt realize you had dealing with Central trust...they declined my complaint this year so it has been with the FOS since May....they seem hard nuts to crack, do you mind me asking how your complaint was upheld and what they have been like with you? xx

amersall

rhij181 wrote: »

Hi there im new to all this so hope Im posting in the right place. I have just received a letter from Lloyds Bank in relation to the PPI mis-selling claim in made in May of this year.

They say they are preparing to offer me :

Difference between actual and revised balance 1908.39
Credit Interest at 8% per annum simple 65.98

Total 1974.37

I have had this card with them approx 1998 and from the statements I have I estimate that I have paid at least 200 per year to them in ppi between 1998 and 2008 when I woke up and cancelled.

I recently had success with Halifax One Card who refunded me premiums and interest and I think Lloyds are trying to get away with refunding the premiums only.

Can someone back me up on this as to be honest Ive had a complete gutful of Lloyds over the years and if I am right i am minded not to accept this offer and proceed with the Ombudsman. They have also not given me a breakdown of the time period they have applied the calculations so I have very little to go on.

Does anyone think this is worth arguing? All comments will be most eagerly accepted.

Hi there, if you have proof of the ppi you have paid to date,then you need to send them this,i doubt they will have records from that far back,you need to send proof of what you have paid with the statements.

amersall

pineapple123 wrote: »

Hi
Just after some advice from you guys regarding mis sold PPI's Have only started to take note of whats its all about and need some help. Have looked on Martins page and on here but just needs abit of help.

Briefly Hubby had a PPI from peugeot financial services(administered by london general holding) 2003 for 6 years I believe looking at the paperwork I have it was missold so who do we need to contact.
also Hubby has ppi on 2 bank loans in 2006 (? when started and finished) and 2 CC stopped last year.
I have details of CC but not of loans , I think he was missold on these also, can he claim on the loans and how would he go about it.
Sorry for so many questions, He may get nothing back but i suppose its worth trying for.
Any reply will be great. Thanks.

Hi there, sorry you have not been helped here the threads are moving at an alarming rate of late,you may have been missed

You need to put a copmplaint into peugeot,you only need the account number and reasons for mis sell,i will post the link for you to see if any/all apply to you at the end of the post.
With this being 2003 you may hit a brick wall,but you may not,so it is worth a go,when you get the response for them,post here and we will help you with the next step.
The credit cards,all you need are reasons for mis sell and the card number,some banks do claims over the phone,so you could try this.
Give the banks a ring about the loan onfo,they may do this but if not request all info they hold on you,this will cost £10 but will be worth it.
do you have no account numbers at all for these loans? do you do interenet banking and paid these through there? the account numbers may be there.
Look at this link for all the help you need on how to make a claim and if you need anymore help just ask.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2