PPI Reclaiming successes and failures

[Deleted User]

evertrue wrote: »

Does anyone have the email addresss for halifax please. My eight weeks is up and I wanted to start emailing the ceo.

Thank you

No point E-mailing the CEO about not having had a decision yet. There is no eight week ruling

Edit: Just saw your earlier post in which you state this is a reply to your rejection letter. You should now be going to FOS if you feel that you have a strong case, no point E-Mailing the CEO as all it will do is expedite a quicker confirmation of your earlier rejection;
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step4

jrork

Longy123 wrote: »

Hi Jrork
I've had success with RBS one loan re financed had 3 offers due to this in approx 8 week money paid back into account once acceptance returned 3 for loans one for interest 4 payments in total very quickly about a week, got the money before the text they sent saying they had received my acceptance

Great news, well done! I'm hoping that they will accept my claim as I wasn't told that the insurance was optional; it was only in 2006 when my brother told me I could get insurance much cheaper from an independent company that I cancelled it. If my calculations are right I could be owed around £3500 which would be great as it would finally clear my loan with them. I'm also trying to reclaim from Shop Direct because I wasn't aware I had account cover until I was looking back through my statements from them. I have everything crossed!

amersall

The original loan was 8th July 2004. For 16,000 plus upfront PPI of £3687.36 over 84 months. Total pay back would of been £28289.52

They will take the whole PPI amount off the loan balance, make sure they do this, you will get the PPI payments that you made to date back to you, obviously this will be less from the date you defaulted, they will clear the arrears on the loan first and any left over will come to you, the whole PPI taken off the loan balance should reduce the amount that you owe substantially, it is possible that this loan will be cleared and you get the rest back to you, you will get 8% on top and that is taxable if you are a taxpayer.

pbsmiles

amersall wrote: »

They will take the whole PPI amount off the loan balance, make sure they do this, you will get the PPI payments that you made to date back to you, obviously this will be less from the date you defaulted, they will clear the arrears on the loan first and any left over will come to you, the whole PPI taken off the loan balance should reduce the amount that you owe substantially, it is possible that this loan will be cleared and you get the rest back to you, you will get 8% on top and that is taxable if you are a taxpayer.

Thank you, but can your clarify what the 8% is on top of, if you would as that bit confuses me - thank you.

[Deleted User]

pbsmiles wrote: »

can your clarify what the 8% is on top of,

It's on "top of" (or "as well as" if you prefer) the refund of the PPI you will receive if your complaint is successful.

amersall

pbsmiles wrote: »

Thank you, but can your clarify what the 8% is on top of, if you would as that bit confuses me - thank you.

The 8% is for each PPI monthly payment that you made to the loan from the start date to the day they pay you out, this is on a decreasing monthly scale so the nearer to the redress date you get, the less the 8% is.

Slayerx

Just had a letter from Halifax upholding my complaint

My loan was 3k so was expecting much back so was surprised to see £1335.63

Now the break down was

£742.50 Premiums
£237.18 Refund of Interest
£355.95 Interest at 8%

So the 20% I have to pay is that just on the interest at 8% or that and the refund of interest ?

Also do banks have to refund by chq as it looks like Halifax will take 28 days to issue it.

James0101

Slayerx wrote: »

Just had a letter from Halifax upholding my complaint

My loan was 3k so was expecting much back so was surprised to see £1335.63

Now the break down was

£742.50 Premiums
£237.18 Refund of Interest
£355.95 Interest at 8%

So the 20% I have to pay is that just on the interest at 8% or that and the refund of interest ?

Also do banks have to refund by chq as it looks like Halifax will take 28 days to issue it.

Hi,

Just wondering how long is was from you first complaining to getting your offer?

And congrats too :cool:

Slayerx

I put my complaint in on the 30th of April so they had until the 25th of June to reply.

Got my letter today however the letter is dated the 13th of June so its taking almost a week for me to get a letter.

Also the interest at 8% has been calculated up to the 11th of July 4 weeks after the letters date which is when they expect me to have the chq by.

linzowillo

Hi all! This is my first post here, so excited to hear all of your success stories, i'm so excited infact I cannot sleep as I have 8 seperate PPI claims sent off about a month ago. I am just about to graduate as a mature student so any money coming my way would be so welcome right now!

Fingers crossed my claims will be accepted!

Watch this space

Lindsey x