PPI Reclaiming successes and failures

brumyjones

I have had a response from Lloyds TSB and calculations from six loans that I have had payment protection on going back to sometime in the 1990's.
The amounts that they are paying back ranges from over £700.00 to over £6000.00. The Total amount that they are going to return is over £13,000. They informed me that they will be calculating the interest to mid November. This week I received one payment into my bank account. This was for payment protection for the current loan that I still have with them. Hopefully the remainder of the payments will be in my account by the time the interest is being paid to.

smitchy73

skitter123 wrote: »

I first posted awhile ago and was fortunate enough to have smitchy respond to my post advising of the main points of how to proceed in tackling my reclaim. Thank you. A 19,000 loan over 7 years (that was the shortest length of time I could afford to repay) due to finish in a further eleven payments although I had had 2 further loans which 'merged' into this one. The repayment seems to have taken forever! I am still awaiting a hopeful outcome (12 weeks into process) but just wanted to say thank you to all you amazing people on this forum who share so much to help others.

hi skitter,
you are more than welcome, anyone who helps on this site are just glad to see a good result, we all want the banks to pay. Hopefully you'll get a succesful outcome very soon, I think most banks are hitting their targets for giving a final response fairly close to the deadline's, and in any case if you've not heard by the date start to email them and phone them to find out.
Good luck and keep us informed on how you get on.:D

smitchy73

erind wrote: »

Thankyou for your help.

erind,
when we got our repayment from Clydesdale Bank, the HMRC adjusted our tax code, this resulted in a high amount on the first week after it was amended, then the rest was worked out over the rest of the tax year(to end of March/beginning of April), but remember you are getting the money for this within your repayment from the bank, also don't contact HMRC until you've had the money in your bank.
HMRC were nice on the phone and very helpful, they know all about the PPI claims going on too and I believe they are asking lenders who pay out without taking the tax off for details of customers who they pay out too, so if you don't come forward they will come after you and could be liable for a fine or penalty for not advising of the extra income.
Hope this helps.:D

erind

Thanks Smitchy. I'll make sure I call when we receive the money.

anubistech

Today I received a letter from HSBC offering me £2921.54.

I was missold PPI when I took out the loan as I was put under pressure and was made to belieive that I needed it for the interest rate - I was really desperate for the loan too.

I had a loan with them since 2006 and was missold PPI. For a while I read about PPI reclaiming but didn't do anything, then I decided to do something about it as it was my right. I didn't know the details of the loan, so I followed the instructions on this site by writing them a letter and sending them a cheque for a pound. Once I had the details I completed the form from moneysavingexpert and sent it to the bank. They sent me a response saying they were looking into it and would get back to me in a certain time frame. The amount they are offering is the full amount I paid for the PPI, plus 8% interest - I think this is fair so I am about to accept the money.

If it wasn't for the advice on this site I wouldn't be receiving this money, so big thanks to moneysavingexpert.com, big up yourselves!

nattajack2000

Hi, does anyone have an e-mail address for Yorkshire Bank ppi claims? I have their address but no printer to print a letter out on so thought I may be able to e-mail them. I e-mailed Halifax Bank and they accepted that method of complaint. Thanks, Di

nattajack2000

nattajack2000 wrote: »

Hi, I originally e-mailed the CEO of Halifax on 4th August to claim ppi missold on a loan I took out in October 2001. I received an e-mail about 2 weeks later advising that a claims handler would look into the complaint and this would take approx 16 weeks. I rang them up today and was told that a letter has gone out to us yesterday upholding claims for 3 loans (I only advised them about 1 as I did not have details of others!!) which total around £6,700.00. I was over the moon and gobsmacked, she said that I should receive the letter this week but she did not know the timescale involved for receiving cheques but imagined that it will be after 20th November as this is the date that the insurance is paid up until. Diane xx;)

Further to my post above, I just want to say a huge thank you to everyone on this site that has offered help, support and advice to myself and others. THANK YOU XXX

gratefull

erind wrote: »

Hi Thanks for reply.
Would I pay that in one lump sum, or over a tax year? Sorry for sounding a bit thick, but Im not really sure.
Thanks Sharon

You can of course, arrange to pay any tax due in one payment, should you want to do so. Give them a call to look at your options

karenb7740

Hi. I was wondering if anyone would be able to give me some advise. My Husband has received an offer from Tesco for a credit card that he holds with them. The card was opened in August 2001, and we cancelled the PPI insurance in 2006, when we realised it was on the card. We still owe money on the card and it is being paid via a debt agency on Tesco behalf, which we pay a regular amount each month.
The offer states first, that it can only refund back to November 2003, as there records do not go back any further, but if we have statements from August 2001 to October 2003, they will refund these. Is this the norm?. Secondly, it states that as the credit card is in arrears the monies will be applied to the credit card. Is it compulsory that they do this with all of the refund including the interest. Should we not be entitled to any of the funds.
We are very pleased that they have given us the offer but it would have been nice to have received a bit of the £3500.19 that they have offered us.
Any advise would be appreciated.

Matryoshka

smitchy73 wrote: »

HMRC were nice on the phone and very helpful, they know all about the PPI claims going on too and I believe they are asking lenders who pay out without taking the tax off for details of customers who they pay out too, so if you don't come forward they will come after you and could be liable for a fine or penalty for not advising of the extra income.

So, do I need to inform them about the £48.99 I received today? :rotfl:

There's no breakdown of nothing in the letter attached to the cheque. Thanks.