PPI Reclaiming successes and failures

amersall

Bobsnotsilly wrote: »

Hello,

Hypothetical question - If I had a loan with, say, Santander, and they sold my debt to, say, Moorcroft, would my PPI successful claim against Santander be passed to Moorcroft to pay anything I may still owe them????

Thanks

If the debt was sold then Santander cannot take any redress from the debt.
If the loan was passed to Moorcroft for collection and not sold on, then they can.

Funktchic

Funktchic wrote: »

Hi di3004,

Thank you for your reply

In the letter they have given the following break down,

Loan 1
Refund of premiums 261.81
Interest @ 8% up till 26.03.12 - 110.35
Total 372.16

Loan 2
Refund of premiums 1957.20
Interest @ 8% up till 26.03.12 - 557.93
Excess Balance 315.27
Total 2830.40

Loan 3 (current open loan that i am still paying with no PPI attached)
Interest @ 8% up till 26.03.12
Excess Balance 481.72
Total 507.27

Total refund offer 3709.83

They do not say in the letter how long it will take for the refund but im guessing because they are only paying interest up till 26.03.12 that it will be around this date? Am i right in thinking that i pay tax on the interest refund & i have to phone the tax office to declare?

I am planning on ringing them on Monday but any advice would be great!

Sorry for being such a newbie but to be honest i never thought it would actually happen as all it has taken was one 5min phone call I think im still in shock!

I will ring Lloyds on Monday & let you know how i get on! Im so happy everyone should do it, its so easy! Im looking @ my husbands as we speak & will try to claim that back, I have told all my family to do the same!!!!:j:j:beer::j

di3004

Funktchic wrote: »

I will ring Lloyds on Monday & let you know how i get on! Im so happy everyone should do it, its so easy! Im looking @ my husbands as we speak & will try to claim that back, I have told all my family to do the same!!!!:j:j:beer::j

Very chuffed for you.:T:beer::j and well deserved too! x:A

amersall

themass wrote: »

Cheers Di, i owe this one to you Amersall and Niggly if it comes off i know Norton were in a lot of trouble with front loaded ppi.

:D Hurry up and post the "win" :j:j:j:j:j glad to have helped.:D

sands4ever30

Funktchic wrote: »

Hi di3004,

Thank you for your reply

In the letter they have given the following break down,

Loan 1
Refund of premiums 261.81
Interest @ 8% up till 26.03.12 - 110.35
Total 372.16

Loan 2
Refund of premiums 1957.20
Interest @ 8% up till 26.03.12 - 557.93
Excess Balance 315.27
Total 2830.40

Loan 3 (current open loan that i am still paying with no PPI attached)
Interest @ 8% up till 26.03.12
Excess Balance 481.72
Total 507.27

Total refund offer 3709.83

They do not say in the letter how long it will take for the refund but im guessing because they are only paying interest up till 26.03.12 that it will be around this date? Am i right in thinking that i pay tax on the interest refund & i have to phone the tax office to declare?

I am planning on ringing them on Monday but any advice would be great!

Sorry for being such a newbie but to be honest i never thought it would actually happen as all it has taken was one 5min phone call I think im still in shock!

hi im newbie to this i have just received today an offer £4824 with all the breakdown simlar to yours i have got a current loan open it says on the bottom on the first page that personal loan service centre will send you a statement which will show you the payments that we have made to your loan account and will confirm the outstanding balance of your loan do you have the same on your letter im concerned that they are using this to pay back all of the open loan

very concerned

[Deleted User]

sands4ever30 wrote: »

im concerned that they are using this to pay back all of the open loan

They can only do this if you are in repayment arrears.

sands4ever30

Moneyineptitude wrote: »

They can only do this if you are in repayment arrears.

what if your just two months in arrears can they still take all of it?

[Deleted User]

sands4ever30 wrote: »

what if your just two months in arrears can they still take all of it?

I doubt they'd take all, but certainly they'll take those two months. You'll have to contact the Bank to be sure. What is your repayment history like?

sands4ever30

Moneyineptitude wrote: »

I doubt they'd take all, but certainly they'll take those two months. You'll have to contact the Bank to be sure. What is your repayment history like?

excellent never had any problems in the past i have just started with CCCS to manage my debts as i have just gone into arrears didnt want them to get out of hand so they are paying my debters i have never had this difficulty before really appreciate any advice as i need that money to increase my payments to the debts or to pay some off it makes me feel sick that they would pay off the 4000 i have left on the loan.

[Deleted User]

sands4ever30 wrote: »

makes me feel sick that they would pay off the 4000 i have left on the loan.

Well, at least in the unlikely event that they do, it would mean you could concentrate your efforts on reducing your other debts.:)