PPI Reclaiming successes and failures

Happy_lady_2

Hi everyone,

Ive recently had success with reclaiming back mis-sold PPI from HSBC, a total of just over £9,000 :j

Last week I signed the form of acceptance and posted back, so i am still awaiting the actual money to go into my account, but I was just wondering about paying tax on the interest. I myself am a little scared not to inform HMRC as I dont really fancy a 'demand letter' through the post so I was going to phone them once I was in receipt of my payment. But friends and family are saying I should keep quiet until I am chased. Have most people contacted HMRC to declare their payouts?? I'm keen to see other peoples views on this!

[Deleted User]

Happy_lady wrote: »

Have most people contacted HMRC to declare their payouts?? I'm keen to see other peoples views on this!

If you contact the tax office they can "soften" the blow of having to pay tax on the 8% interest by adjusting your tax code so that you pay it back gradually over time.
If you leave it until HMRC demand payment (the Bank will tell them, make no mistake) you will then have to pay immediately.

[Deleted User]

stu1960 wrote: »

If lloyds assume that if rejected I will go to FOS it would make financial sense to pay me out.

Not if they believe your claim will not be upheld by FOS and/or that you may not go to FOS at all.

tudor

hi all saving experts, i have all the paper work for a loan with ppi and for the life of me i cant see the policy number for the insurance policy only the account number of the co op bank account that the loan was attached to.

Is this the same thing for section a4 of the consumer questionnaire?

Happy_lady_2

Moneyineptitude wrote: »

If you contact the tax office they can "soften" the blow of having to pay tax on the 8% interest by adjusting your tax code so that you pay it back gradually over time.
If you leave it until HMRC demand payment (the Bank will tell them, make no mistake) you will then have to pay immediately.

Thanks! This is what I thought. I know a few people who are keeping 'quiet' but to be honest i'd rather get it sorted upfront without worrying about a demand letter in the post. Surely people can't believe that HMRC won't find out eventually?!

[Deleted User]

Happy_lady wrote: »

Surely people can't believe that HMRC won't find out eventually?!

Some people may HOPE so.

[Deleted User]

tudor wrote: »

Is this the same thing for section a4 of the consumer questionnaire?

Ideally, you want both the account number and the policy number. If you don't have the policy number, contact the Bank and ask them otherwise you'll likely delay your complaint.
Are you certain you had PPI?

Whoopi

I have been offered an amount of £1202.62 on a 3K loan!!! I have accepted the offer and now waiting for the money to be transferred - does anyone know how long this can take?

Thank you so much Martin!!!! xxx:rotfl:

amersall

daj2390 wrote: »

Well after 11 weeks we have had success with Lloyds :j Cannot believe we have had an offer of in excess of £10,000:rotfl: no more stalking Mr postman!! A massive thanks you to Amersall & co as without the single premium advice it may never have been upheld so thank you again this will make such a huge difference to us :beer: Without the advice on here I would have used a claims company so my advice to anyone is do it yourself, for the sake of a few hours of your time and a few stamps you could be a lot better off. :j:j

:j:j Luv it when a plan comes together :rotfl::rotfl:
congrats:beer::beer:

amersall

Kuffs1978 wrote: »

Hi guys,

I realise we haven't posted in a very long time but now the end is (in theory) near I wondered if anyone could help us (again, sorry!) understand what on earth has gone on.
Ok, Sept 23rd 2012 should be the last payment date (month 60 of 60 month loan period). Not wanting to sound like a stuck record but our payment history is as follows:
3 months @ £246.62
12 months @ £252.84
45 months @ £261.16


This included £1,537.50 (Aarrrgggghhh!!!) in PPI which was cancelled in April 2011 and £384.38 rebate repaid to GE Money. So if loan of £10k and PPI had run full term, repayment would total £15,526.14. Balance repaid so far is £14,414.20, so how can GE justify a further £1,402 remains unpaid when PPI no longer exists? FOS are being as useful as a chocolate fireguard and since we were told the cancellation of PPI would enable loan to be repaid sooner it doesn't make sense. Help please!!

Sorry your post was missed, as I explained before, this amount owing is the remaining PPI after the cancellation, when it was cancelled you only received a rebate of the PPI so the PPI is still on there to be paid until you get this declared mis sold by FOS or GE money, I have helped you and sympathised with your sisters situation and said what should be done with this loan, until it is declared a mis sell you have to pay the amount owing.