2 PPI Claims

Halilax

Hi there, :beer:
After clearing out some dusty boxes in the shed back in June 2019 I found two Halifax Loan Certificates I never realised I had which, also seemed to each have a PPI fee on them.

I used Resolver to make a claim, and was sent a text message by Halifax to acknowledge my PPI Complaint but never got anything more.

Yesterday I phoned up Halifax PPI to try to find out what is going on, and they said they sent out a letter around mid August saying my complaint has been upheld. They also said that a cheque for 1967 pounds had been sent but returned.

I explained that I had not received any of those things, and they have agreed to resend them to me after confirming my postal address. I should be getting them in the next ten days.

I have no idea how they have calculated the amount, whether it is fair, or unfair.

Please could someone help me understand, what should I be looking for in the soon to arrive letter pack? Will it have a breakdown of their calculation? I don't really understand how they will have made a decision.

I had two personal Loans with Halifax and as I said above I found both loan certificates in a box.

Is anyone able to help me figure out how they've come to the amount they told me over the phone, and if it seems accurate?

My Loans were>>>>
(The Loans were from the Year 2001)
First Loan:
Loan amount: 6800
Total charge for credit: 831
Total amount i pay: 7631
PPI insurance: 817
Charge for PPI credit: 99
Total: 916
24 monthly payments of: 356
APR: 11.9%
Total: 7616
Total Charge for Credit: 931
Total you pay: 8547

Second Loan:
Loan amount: 5000
Total charge for credit: 460
Total amount i pay: 5460
PPI insurance: 582
Charge for PPI credit: 54
Total: 636
24 monthly payments of: 339
APR: 11.9%
Total: 5582
Total Charge for Credit: 514
Total you pay: 6097

Many thanks in advance

Halilax

I'll reply again once I get the letter through the post

The_squirrell

The letter you will receive will have the full breakdown of how the figure has been calculated. There really is not much point trying to do any calculations before you receive this. Relax and wait for the postman

Halilax

Hey there, I just got the letter from Halifax and thought I would put it on here but as a new user of MSE it tells me i'm not allowed to post links or embed photos

If there's a way to show the letter here and the mods are happy for me to do that I will.

In a round about way

Loan 1 seems to have been turned down for some reason not sure why
Loan 2 has been Upheld, but i'm not sure what it all means. Do I claim back tax on it aswell?

Does all this seem thorough and fair, I have no real understanding of the numbers or correctness of it, do I just accept? Super confused, but quite impressed that a refund is to happen.:beer:

[Deleted User]

The letter should will explain why Loan 1 has been declined.

If you're not a taxpayer, you can reclaim the tax on the interest. If you're a higher rate taxpayer, you'll need to pay the extra.

It all seems thorough and fair from the few details you've provided.