PPI Reclaiming successes and failures

Smamfer

Oh just want to add.,

First off it really warms my heart to hear of so many success stories and people getting back what they deserve i hope you all have a lovely xmas with any payments you have had,


Capital one will be my last one to deal with, been too busy lately and need to get it sorted, any tips on which is the best way to deal with these? All my other loans cards etc that i have won i havent even used the template just dives straigh in with an email and chased it a couple of times and hey presto they paid out but i have read on and off C1 can be a bit of a pain so any help or ideas or addresses etc greatly welcomed xx

Gemmap1981

Hi all. I've received a letter today from
Hsbc saying that they are upholding my complaint and refunding me for the ppi element of my loan. I've had a series of loans with hsbc over the past few years, with each new loan superseding the last whenever I've re-financed. All of my loans have had ppi policies attached to them with the exception of my current/live loan. As my current loan is in arrears, rather than refund the money to me as cash, hsbc are saying they will use the refund to reduce the amount of debt owed on my current loan. Can somebody tell me if hsbc have to do this, or is there a chance they will refund me the cash if I write to them and ask? Especially as my current debt owed to them is not related in any way to my ppi policies. I'm just not sure if they are requesting this in the first instance as it will be beneficial to them to do so, or if legally they can do this? Any advice would be appreciated. Thanks.

villan501

Dilus

with referemce to earlier posi I made

Can an expert look at these figures and tell me what a fair offer would be Halifax tole me today that they are offering £1970 and the cals are in the post. Ill give you all the figures of the loan

Amount of creidt ( The cash Loan) £8000
Amount of creidt ( The insurance of the loan) £1417.60
Total amount of credit ( The total loan) £9417.60
Duration of the agrrement 26months

Total amount you pay for the cash loan £899.68
Total amount you pay fot the Insurance loan £1577.04
Total amount payable £10,476.72
Monthly payments £436.53

Interest 9.3%

Can someoen advise me what they think of the offer of £1970

I took tgis loan out in 07 and it was paid in 09 I made every payment the reason why I think it is wrong is because in 05 til 07 I took a loan out over 48 months with mint and the ppi was 1k I received a letter with an offer of £1900

Please tell me how halifax can come to this offer

thelovebader

joncow75 wrote: »

How do you know you paid £7,700 in PPI? It isn't unusual for a business to destroy paperwork 6 years after an account has closed. But if you know what you paid, have any paperwork yourself or proof, then send that back to them. PPI Claims are not restricted to a timeframe, but any financial institute is obviously only going to help supply you with info for the 6years they have to.

There are a number of examples of people who have had paperwork - including one I have seen through HFC for over 15years, and HFC paid out.

Hi,
Yes, I have the original agreement with it all on - I have forwarded to the FOS

dilus

villan501 wrote: »

Dilus

with referemce to earlier posi I made

Can an expert look at these figures and tell me what a fair offer would be Halifax tole me today that they are offering £1970 and the cals are in the post. Ill give you all the figures of the loan

Amount of creidt ( The cash Loan) £8000
Amount of creidt ( The insurance of the loan) £1417.60
Total amount of credit ( The total loan) £9417.60
Duration of the agrrement 26months

Total amount you pay for the cash loan £899.68
Total amount you pay fot the Insurance loan £1577.04
Total amount payable £10,476.72
Monthly payments £436.53

Interest 9.3%

Can someoen advise me what they think of the offer of £1970

I took tgis loan out in 07 and it was paid in 09 I made every payment the reason why I think it is wrong is because in 05 til 07 I took a loan out over 48 months with mint and the ppi was 1k I received a letter with an offer of £1900

Please tell me how halifax can come to this offer

I think the reason the earlier loan paid out a similar amount despite the PPI being less is due to the loan being taken out over 4 years. When you paid this loan off early (after two years) you should have received a refund of PPI (due to early settlement) as well as the normal redress.

I would be happy with the offer from Halifax, it is about £200 above what you should get, they could be giving you that as compensation for the hassle caused

villan501

Dilus

Fair point mate, I think I got blinkered by other poeples quotes what they have got back. I take it the interest of 8% is a one off against what you get back and not per year

dilus

villan501 wrote: »

Dilus

Fair point mate, I think I got blinkered by other poeples quotes what they have got back. I take it the interest of 8% is a one off against what you get back and not per year

Yes that's correct mate, APR does not come into the equation unfortunately (although I still argue it should), the 8% is compensation for not having the money in a savings account instead. It's the FOS recommended amount and if the bank pay it GROSS which I think Halifax do, then you are liable for tax on it and have to inform HMRC after you get it

villan501

Dilus

I take it I have to pay 20% of roughly £400 so im looking at roughly £80 give or take a few quid, There a bunch of theiving ( word removed) they just dont want people getting any money they have to take the tax

dilus

villan501 wrote: »

Dilus

I take it I have to pay 20% of roughly £400 so im looking at roughly £80 give or take a few quid, There a bunch of theiving ( word removed) they just dont want people getting any money they have to take the tax

I'm afraid so but don't inform HMRC until you have the cash, they can alter your tax code to pay it over the remainder of the tax year or you could pay it in a lump, it's the same as being taxed on interest on savings
We should all move to Switzerland or pool our reclaim money and buy an island somewhere and make our own rules

villan501

Dilus

Many thanks for the help I think I have to cash in cos it wont be anymore for 5 loans with halifax Ive got £3200 back tesco paid me £3268 and mint have paid 1970 so six months ago I had no money my name and now I got 9k ish, This site is great and people like yourself make it great with the superb advice. Just one last bit I took aloan out with goldfish in early 2000's I dont have the details I take it im wasting my time trying without an agrrement and no details at all