Payday loan refund

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  • Dullville
    Dullville Posts: 297 Forumite
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    Getting.sorted wrote: »
    Dullville, have a good read on that site, get the email filled in and send it off. Good luck
    Thanks mate..I will.
    I will keep you posted.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    I wonder if the OP looked at the reverse of the letter?? LOL
    I'm sure the total amount will be on there together with a deduction of 20% for tax. It does not matter if the OP is a taxpayer or not.
  • Getting.sorted
    Getting.sorted Posts: 8 Forumite
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    jonesMUFCforever wrote: »
    I wonder if the OP looked at the reverse of the letter?? LOL
    I'm sure the total amount will be on there together with a deduction of 20% for tax. It does not matter if the OP is a taxpayer or not.

    I think you need to read the camel site as you have outdated information my friend, people come here for facts, not opinions.

    'From April 2016 if you are a basic rate tax payer and you receive less than £1,000 of interest in a year in total, from PPI or payday loan refunds plus any from your savings, then you won’t have to pay any tax. If you receive over £1,000, you will have to pay tax on the extra'

    As it's only applied to the interest, my interest is less than £1000......so tax man gets zilch, diddly sqaut, nil points, zero.....:rotfl::rotfl::rotfl:
  • Dullville
    Dullville Posts: 297 Forumite
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    jonesMUFCforever wrote: »
    I wonder if the OP looked at the reverse of the letter?? LOL
    I'm sure the total amount will be on there together with a deduction of 20% for tax. It does not matter if the OP is a taxpayer or not.
    Another so called expert coming on here spouting off like the font of all knowledge and proved WRONG...you couldn’t make it up with some of the people who give absolute tosh comments..smacks of jealousy to me that someone gets the hump because someone has a nice result.:
    :T:T
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    Getting.sorted wrote: »
    I think you need to read the camel site as you have outdated information my friend, people come here for facts, not opinions.

    'From April 2016 if you are a basic rate tax payer and you receive less than £1,000 of interest in a year in total, from PPI or payday loan refunds plus any from your savings, then you won’t have to pay any tax. If you receive over £1,000, you will have to pay tax on the extra'

    As it's only applied to the interest, my interest is less than £1000......so tax man gets zilch, diddly sqaut, nil points, zero.....:rotfl::rotfl::rotfl:

    I don't read camel sites
    they give me the hump.

    Perhaps the PPI firms have a crystal ball - how do they know what you have been paid in any tax year?
    Would it not be a case of them deducting it at source and you claiming it back?
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    Dullville wrote: »
    Another so called expert coming on here spouting off like the font of all knowledge and proved WRONG...you couldn’t make it up with some of the people who give absolute tosh comments..smacks of jealousy to me that someone gets the hump because someone has a nice result.:
    :T:T

    Thank you for the constructive comments.
  • System
    System Posts: 178,094 Community Admin
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    Dullville wrote: »
    Really...are you socially challenged?

    Because I expect people to honour the contract they signed, because I expect them to exercise personal responsibility and to live with the consequences of their poor decisions instead of being rewarded for them?
  • takman
    takman Posts: 3,876 Forumite
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    Getting.sorted wrote: »
    I think you need to read the camel site as you have outdated information my friend, people come here for facts, not opinions.

    'From April 2016 if you are a basic rate tax payer and you receive less than £1,000 of interest in a year in total, from PPI or payday loan refunds plus any from your savings, then you won’t have to pay any tax. If you receive over £1,000, you will have to pay tax on the extra'

    As it's only applied to the interest, my interest is less than £1000......so tax man gets zilch, diddly sqaut, nil points, zero.....:rotfl::rotfl::rotfl:

    So you must have very little savings if the £845 doesn't push you over the level you need to pay tax.

    Maybe you should think twice before blowing the money on a holiday otherwise you may end up needing payday loans again in the future!.
  • Getting.sorted
    Getting.sorted Posts: 8 Forumite
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    takman wrote: »
    So you must have very little savings if the £845 doesn't push you over the level you need to pay tax.

    Maybe you should think twice before blowing the money on a holiday otherwise you may end up needing payday loans again in the future!.
    Ah ha. ....another misinformed, judgemental post, the E should be removed from MSE.

    You don't know why I needed financial help 5 years ago, or my current and future situation. In the last 3 years I've inherited a mortgage free house anf flat and a six figure sum from my late mother I keep my money in a Santander 123, which is perfect as only pays interest on the first 25k.
    So, with two mortgage free properties, another with 7 yrs to go, no debts, a royal navy pension payable in 5 years, a further privare pension,plus my wife's pension, a large lump sum when I leave and retire in 5 years at age 55, with a very healthy joint income til then. ....I think I might just be okay.


    So if you've got no real advice, nor no my situation. ...move along snowflake. :T
  • Getting.sorted
    Getting.sorted Posts: 8 Forumite
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    And whether or not in anyone's opinion if it is right or not.....blah blah blah, just think for one minute. If these companies that charge desperate people extremely high rates of interest is wrong, if not why would the FCA/ombudsman intervene and ensure refunds are given.

    I couldn't care less on what some key board warrior thinks, my question was answered in a non judgemental manner, then I get a load of outdated information and tosh, thanks but don't need it. In fact no one does, why come on here to be judgemental? Are your lives really that unfulfilled? Maybe best leaving this forum if you can't be constructive.

    I may think of you whilst enjoying my free holiday in Cuba.
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