Reclaiming PPI

Bit of an update to this thread, and also just to prove this is worth doing. Mrs Wisemen and I have done 3 reclaims for bits and bobs dating back to 1996, 2 credit cards and a loan. Reclaims from HSBC, Lloyds and Halifax.

Finally today go the last reply back in the post. Our final total was......

HSBC £8500
Lloyds £8150
Halifax £6900

Almost 50% was interest owed.

Had the cheque from HSBC and just waiting for the other 2. Almost £24k in repayments. All done by simply sending off letters ourselves. Anyone still deciding whether to do it, get on with it, the results are worth it.
 
Congratulations Mr & Mrs Wiseman, WOW what a result. Just goes to show how much of our money the money grabbing banks have been accumulating over the years and I believe this is just the tip of the iceberg. Well done and thanks for posting.
 
Just to let everyone know, there may be tax liabilities based on any interest that is paid by the banks.

They should be deducting 8% from the interest that you are entitled to, but if they dont, then contact your local HMRC just incase.
 
Thats a first for me. As far as I'm concerned whats mine is mine.
 
Grayo said:
Thats a first for me. As far as I'm concerned whats mine is mine.
Click to expand...

Thats what alot of people are thinking, but from the taxmans perspective, if you hadnt paid the money out for the PPI, then the money would have been in a bank account, which is subject to tax, so they wouldve had their slice that way.

http://www.bbc.co.uk/news/business-15701101

More info there, and also more info could be had from the HMRC.
 
I would have thought they would have had their slice before it went into your bank account from your taxed salary. If you have savings of say £20,000 then you would not need to take out a loan with ppi. I know whay goes onto our account is spent before the tax man even gets a sniff of it.
 
I feel I've been mis-sold PPi when I signed up for a Barclaycard(probably around 5 years ago)I find that high street banks don't deal with their credit cards instore. Is it best to phone up the bank and speak to the credit card department or write a letter to them?
 
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