PPI Reclaiming successes and failures

trish123

Hi,my first success so far.Received a letter today from Bank of scotland stating that since i am a valued customer they have decided to pay me an amount which will put me back in the position i would have been if i had not taken the insurance.This is done without the admission of liability and in fulll and final aettlement.My complaint has been referred to our redress team who will complete the relevant calculations within the next 14 days.Oh im all excited now this card has been running for 15 years and has always had a balance wonder how much i will get back.So thanks DI for all ur help.1 down 5 to go.

di3004

trish123 wrote: »

Hi,my first success so far.Received a letter today from Bank of scotland stating that since i am a valued customer they have decided to pay me an amount which will put me back in the position i would have been if i had not taken the insurance.This is done without the admission of liability and in fulll and final aettlement.My complaint has been referred to our redress team who will complete the relevant calculations within the next 14 days.Oh im all excited now this card has been running for 15 years and has always had a balance wonder how much i will get back.So thanks DI for all ur help.1 down 5 to go.

Trish that is fantastic news :T:j:j, well done and Congratulations :beer:, I imagine a nice lump sum there WOW:j:T, and your very welcome Trish, good luck on the others too.:beer:;)

Liongirl

• What were you reclaiming: loan
• Who was the provider: Alliance and Leicester
• How much did you get back: £3220
• Did you get it back after a letter or did you go to the Financial Ombudsman: one letter

Long time lurker here, but had to post, as four weeks ago decided to send off the form downloaded from here, not expecting it to be successful on the first attempt. Got the acknowledgement letter 2 weeks later, then on saturday got a letter saying they couldn't prove i had been given all the information necessary when I took out the loan, so were offering a refund of the premiums plus 8% gross interest! (Have to pay tax on that I guess!) Should still give me just over £3k, so am really over the moon with that! :T Thanks to everyone who posts here - you all gave me the incentive to try it myself and it worked! It was soooooo easy!! :j

di3004

Liongirl wrote: »

• What were you reclaiming: loan
• Who was the provider: Alliance and Leicester
• How much did you get back: £3220
• Did you get it back after a letter or did you go to the Financial Ombudsman: one letter

Long time lurker here, but had to post, as four weeks ago decided to send off the form downloaded from here, not expecting it to be successful on the first attempt. Got the acknowledgement letter 2 weeks later, then on saturday got a letter saying they couldn't prove i had been given all the information necessary when I took out the loan, so were offering a refund of the premiums plus 8% gross interest! (Have to pay tax on that I guess!) Should still give me just over £3k, so am really over the moon with that! :T Thanks to everyone who posts here - you all gave me the incentive to try it myself and it worked! It was soooooo easy!! :j

Liongirl, well done and Congratulations!:beer::T:j:beer:

Liongirl

Thanks Di, really amazed at how easy and quick it's been. I've sent off the acceptance letter (recorded delivery) and the cheque will be issued within 2 weeks, so should have it all in my account by end of the month! I would never have tried to reclaim it had it not been for this website, and reading all the posts, so HUGE thank you!! :beer:

di3004

Liongirl wrote: »

Thanks Di, really amazed at how easy and quick it's been. I've sent off the acceptance letter (recorded delivery) and the cheque will be issued within 2 weeks, so should have it all in my account by end of the month! I would never have tried to reclaim it had it not been for this website, and reading all the posts, so HUGE thank you!! :beer:

Great work that Liongirl, well done!:beer:;)

halphy

Liongirl wrote: »

Thanks Di, really amazed at how easy and quick it's been. I've sent off the acceptance letter (recorded delivery) and the cheque will be issued within 2 weeks, so should have it all in my account by end of the month! I would never have tried to reclaim it had it not been for this website, and reading all the posts, so HUGE thank you!! :beer:

Hi Liongirl Im the same with A&L I had an offer that I accepted, awaiting cheque should be here this week! Well done!"

I read the paying tax bit, does that apply?

Liongirl

Hi Halphy,

I'm a tax payer and the letter from A&L said they were paying me 8% interest gross, so I would have to check if I have to pay tax on that. I checked and I would, although it's only on the interest, not on the refund of the premiums, so it would only be about £170 for me. Not sure how i go about it, guess i'll have to contact the inland revenue, but for now will just wait until i've got the money! Does that help? Did your letter say the same thing?

bugsy161

Liongirl wrote: »

Hi Halphy,

I'm a tax payer and the letter from A&L said they were paying me 8% interest gross, so I would have to check if I have to pay tax on that. I checked and I would, although it's only on the interest, not on the refund of the premiums, so it would only be about £170 for me. Not sure how i go about it, guess i'll have to contact the inland revenue, but for now will just wait until i've got the money! Does that help? Did your letter say the same thing?

My undersanding is that you would only have to pay tax on the interest if it was declared, and then it would be subject to your tax status and level of allowances that you were entitled to.
If you are going to put your money into a savings account, non ISA, then you will be taxed on the interest anyway.

halphy

Liongirl wrote: »

Hi Halphy,

I'm a tax payer and the letter from A&L said they were paying me 8% interest gross, so I would have to check if I have to pay tax on that. I checked and I would, although it's only on the interest, not on the refund of the premiums, so it would only be about £170 for me. Not sure how i go about it, guess i'll have to contact the inland revenue, but for now will just wait until i've got the money! Does that help? Did your letter say the same thing?

Yes mine said the same, thanks for that..Boo to paying Tax! LOL

We deserve it all!!!! LOL Did u say you got all your premiums refunded?