PPI Reclaiming Discussion Part 5
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Evening,
Sorry if this has been asked before and i am being thick.
If you receive a PPI payment do you have to inform DWP as retired and they receive pension tax credits. I hope this makes sence.
Thank you for taking the time to read and possibly reply.
I would inform DWP of the PPI redress and be on the safe side, you don't want it coming back to bite you
, let them know you have to pay tax on the 8% amount, it may be ok and not affect the pension credit but tell them anyway. 0 -
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[FONT="]Hi all,
I have recently submitted a claim for PPI against the MBNA after having discovered that I was paying it. I had not noticed it on the statements before as my wife deals with the payments etc. I had not asked for or had been sold PPI, so I requested my T&C's. When I got them, the tick box agreeing to PPI was not checked (completed in 2005), so I hadn't agreed to it. MBNA have contacted me and it turns out that I have been paying PPI since 2008, when apparently I agreed to PPI over the telephone. I have no recollection of this phone call and MBNA can't give me any details of it, other than alleging that the phone call took place and I agreed to PPI. I have never taken any PPI as I have always been self employed (at the time in question albeit as a director of my own private family ltd company) and was advised years ago by a Solicitor friend never to take it out as it was a big con.
MBNA have not made a decision yet, could it be possible that they will decline the claim on the basis that I agreed to take out PPI in the unsubstantiated phone call, despite them having provided me with the most recent T&C's which clearly indicate that I did not agree to PPI?
Is there anything I need to be doing before they make their decision at the end of the month.
Many Thanks for any input.
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Ask for a transcript of the phone call if they reject again, it is likely that the PPI was added later than 08 with a call, ask for the proof of this, they cannot reject a complaint due to a call when they have no call to listen to.0 -
Moneyineptitude wrote: »Or even HMRC..
You had already told the poster to inform HMRC
:p
I was more concerned with the pension credit as you get this if you do not have enough with the state pension to live on, the refund could be classed as income, they need to declare it and be on the safe side.
If the poster does not pay tax, then they do not pay HMRC anything from the 8% 0 -
Hi I’m going through a PPI reclaim with fscs for a picture secured joint loan taken in 2005 for 35k, with approximately 6k front loaded ppi.
26 repayments of approx 400pcm later (10000ish), my wife and I sold our house in 2007.
The picture loan was paid off (39k!!), along with the mortgage and I took on the unsecured debt,which I paid off.
We also divorced shortly after this in 2007.
I have since found out that she was declared bankrupt in 2006. For what debts I do not know!!
Will her bankruptcy from 2006 affect the claim if the picture loan was not included in this bankruptcy? (she is willing to sign the fscs paperwork)
I’d be mighty annoyed if I lost out on the reclaim because of her bankruptcy!! I’ve always struggled but have NEVER missed a payment nor been late and have paid every penny of my debt! It would be the heightof awful irony if the official receiver gets a cheque for the whole lot.
One point that keeps coming to my mind, the loan was joint, but the ppi only covered me,would that make any difference.
Am I worrying needlessly?
I should point out that 50% of this reclaim will go to my ex-wife from my perspective, but will FSCS give 100% to the official receiver in these cicrumstances. The fscs form asks the question about bankruptcy, but do I need to qualify on a covering letter that i want my 50% of the reclamation?
Thank you to anyone who takes the time to reply, I am indebted to your experience and knowledge, and I really do thank you.:)0 -
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peanutbutter_cups wrote: »hi tractor
with lloyds i gave them a ring on the ppi helpline but details was needed as loans more than 6 yrs old.so i just went in to my local branch n asked if they had any info the guy gave me a screen shot of all the products i had had with them. although it didnt give any info about ppi it gave me he loan account details.i then rang the help line bk and gave them the info. a wk later i got 2 letters 1 for a cc saying no ppi and 1 for the loans saying we will investigate so im guessing there was on those and they are looking into it.im just on wk 4 now xx the numb for lloyds ppi is 0845 601 2683 option 3 for new claims if that helps xx
Sorry it took me a while to get back, but today I had a day off work, so decided to give TSB's PPI hotline a ring. I gave them my account details, and they said that they will start the process for me. I have two old loans (now paid off) and a credit card that I believe that I can claim PPI back for.
From what I have read both on this site and elsewhere, the fact that I was in the RAF when the loans and CC were taken, means that any PPI was sold incorrectly regardless of if I requested it or not (although I don't recall requesting it).
I have tracked down one of my old loan agreements this afternoon in the loft, and on one loan I paid PPI of £4231 (although £421 was refunded when I settled the loan early). So hopefully I could be in for a nice little windfall.
Thanks again for your advice.0 -
I wasnt present when you had you call. So, I will answer the points generically as if anyone would have asked them as you have put them.
That is unusual but a choice you made. As it happens, most people do have insurances and there is absolutely nothing wrong with that. Which is why most mortgage insurance complaints are rejected. So, straight away, the odds are not good on any complaint even if you have insurance.
That doesnt happen and would be a lie.
That doesnt happen and would be a lie. Mortgage insurances would have an application completed. Cancellation rights issued and policy schedule issued. Depending on when it was taken out (pre or post regulation) there would be other documentation too. Most mortgage insurance is standalone and collected by monthly direct debit on the current account. A small number of policies are collected via the mortgage account but appear on the annual mortgage statement. It is not hidden and is disclosed.
The cold calling sales reps from claims companies are paid to get people sign up. So, it isnt in the interest of unscrupulous cold callers to be honest with you.
Thank you. That is extremely useful. Looks like it's all a waste of time to pursue further.0 -
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Ebenezer64 wrote: »I've just had a 10 year review of my Whole of Life Assurance with Critical illness cover from Scottish Provident. In discussing the new monthly premium they talk about an addition for premium protection. I assume that this is already included in my current cover, but I was not aware of this and assumed that the premium I have been paying was for the cover that I was quoted and not for anything else. I would not have opted for PPI and would instead of increased the value of my cover. Should I be making a claim?
Bumping this for you, Dunstonh is best placed to answer this when he logs on.0
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