**WON** - Halifax give full refund

**MrShed** · 15th September 2007 17:48

Just thought would let you know, may be useful for other Halifax icon

credit card holders who supposedly signed up for PPI over the phone. I have been going through the formal complaint process with Halifax, after being charged for PPI for the last 4 years without my knowledge, and after I cancelled. After the complaint, Halifax stated that they could not find any transcript of the phone call icon

, and so had no proof that I had ever signed up for the PPI. They have agreed to give me a full refund of all premiums, plus interest icon

! Oh, and they also accepted that I was missold the policy as I was not working at the time.

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**rory32** · 15th September 2007 17:51

Well done Mr Shed

Just goes to show it's well worth persevering.

**MrShed** · 15th September 2007 17:54

Thank you Rory

Think the most important thing I learned to pass on, is that with credit card PPI icon

, the PPI is often sold seperately to the initial contract, and often over the telephone. With this in mind, unless they have kept a transcript of the conversation(unlikely) or you signed a document and they kept it(also unlikely), it is fairly easy to challenge a credit card PPI on the basis that they cannot prove you ever took it out - it was certainly the avenue I concentrated on, and it paid off

**tonycee** · 15th September 2007 18:23

**itsmeandonlyme** · 17th September 2007 16:03

Well done

Who you were dealing with?

Regards,

Itsme

**MrShed** · 19th September 2007 18:57

Simon Nicol.

However.....

Bugger.

Spoke too soon.

Received a letter from them today, stating that I had had credited £114.83 in premium costs(sounds about right) and £9.19 in interest icon

!!! Over four years, this is derisory. Not only does each PPI premium need compound interest applying to it at the 18% or 24% Halifax icon

have been charging, the TOTAL of all that needs 8% statutory interest as well! Plus, they have yet to credit me for the £60-80 worth of penalty charges brought about by the PPI cover.

Back to the drawing board!!!

**itsmeandonlyme** · 19th September 2007 21:32

Hey,
Just accept it as partial one

)))))))))

Happens... I am after contractual as well and i want a payoff for the time i spent writing all those letters

..

**MrShed** · 19th September 2007 21:48

Just to confirm, am I correct in thinking that as they have not put in writing anything about Full and final icon

settlement, I can accept this money so far without jeapordising a continued claim for more interest icon

and penalty charges?

**itsmeandonlyme** · 19th September 2007 22:19

you are correct. have they paid it in your account?

**MrShed** · 19th September 2007 22:23

They have credited it to my credit card account. I will then have to ask for a cheque, as the balance was nil.

Thanks for your help!!

**itsmeandonlyme** · 19th September 2007 22:31

If they paid, than write to them..confirmin that you accept the sum as a partial refund ONLY, and add the extra claiming ammount you wanted to add...

Not a problem( hope u understood my foreign accent

))))

**MrShed** · 19th September 2007 22:38

I actually have a contact there with phone number, so I will ring them in the first instance.

Can I run by you what my complete claim is in effect?

They have now accepted in writing that:
a) they have no evidence whatsoever to suggest I ever signed up to the policy.
b) if I did in fact take out the policy, I was ineligible and therefore mis-sold it.

I may have lost this letter :S but I will cross that bridge when I come to it - assume I have it!!

Therefore, I believe I am right in having the opinion that I am entitled to be in the same position, both financially and otherwise, that I was in prior to them wrongfully charging me.

Therefore, I am after:

- Full refund of all PPI icon

payments over 4 years(this is all since August 2003).
- Full interest icon

incurred by these PPI payments. By this, I again assume I am correct in believing this interest should be the actual compound interest incurred on the card for each single PPI payment? And at the interest rate at the time? So therefore the September 2003 payment should be compound interest for the whole four years? At the variable rate that the card was at? As this is my actual financial loss.
- Due to the payments, and lack of knowledge of the payments, my minimum payment was not in fact covering the increase on the card each month. Eventually, I went over the credit limit, for around 6 months, and incurred charges each month. This is clearly due to the fact that the PPI was wrongfully taken. Am I entitled to this back and associated interest?
- As per the above, am I right in assuming I am entitled to have my credit file defaults removed?

I think that was it!!

Thanks again!

**itsmeandonlyme** · 19th September 2007 22:54

YOU are totaly right.

I normally put all the figures in the spreadsheet, charges, PPI icon

, interest icon

, cash withdraw fees, monthly interest and contractual on the top+ £10 for S.A.R - (Subject access request icon

), 6.35 for each letter + 1.12 recorded stamp+ 9.65 per hour spent on claim.

If they do not have a prove you wanted PPI, they shouldn't had charged you at the beggining and if those charges made you ODed, than you should add those charges as well( but they should be in your spready anyways!!!..all the charges)

**MrShed** · 19th September 2007 22:56

Brilliant, thanks for your help - consider your scales tipped!

I will be back with updates!

**itsmeandonlyme** · 20th September 2007 00:12

TA

xx

**MrShed** · 20th September 2007 21:25

OK.

Well, he was fairly defensive - insisted that it was a final settlement, and nothing could be done. Then by the end of the conversation he said he would see what he could do

3 quick questions:

1) If the letter detailing the amount repaid so far does not state Full and final icon

settlement, can they later say that it is and it be valid? Either verbally or in writing?
2) Stupid question this, but I assume I cant claim back both the interest icon

on the credit card (18% and 24%) AND the 8% statutory?
3) Does anyone know of(or, does anyone feel nice enough and good enough in excel) a spreadsheet that compounds the interest on these charges? The only spreadsheets I can find here do not compound the interest.

Thanks !!

**MrShed** · 21st September 2007 10:42

Sorry to be a pest, but:

Bumpity bump bump

**MrShed** · 21st September 2007 19:25

Sorry again to bump, but could really do with someones help.

Received(most) of my statements today. My calculation process is as follows:

- Divide the "Estimated interest icon

" by "closing balance" to calculated the monthly interest rate each month.

- Multiply the PPI icon

charge by ("monthly interest rate"/100) of the month after, to get the first interest on it. Then multiply this result by the next month etc etc to get the compound interest.

- Do this for all the PPI charges.

Does this sound right? Do I need to take into account what was paid off etc? Even though it was only minimum payments each time?

Thanks again anyone!!!

**itsmeandonlyme** · 22nd September 2007 13:29

don't you have a separated PPI icon

charge that appired on your statement each month?( if you do, just simply put it into spreadsheet)

**MrShed** · 22nd September 2007 16:46

I do, I'm just trying to establish the best way of working out the interest icon

I was charged, and am wondering if the amount(minimum) I paid each month will affect it in any way?

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