Thread: halifax agree mis sold ppi

Halifax did the same for me with a credit card PPI - admitted fault, but refused to fully reimburse. Mine is still proceeding with the fos - good luck!!

Originally Posted by fedup74

Hi everyone will try to keep it short OH got loan with Halifax and PPI. Didn't know he had it until he looked at statement.Wrote to them and complained which they upheld but as the loan is still getting paid (through payplan on debt management reduced payments) they wrote back and said they have taken into consideration payments already made, the payments that are due and compensation of £76 and taken £2k off the loan. Here's the interesting bit- his loan payments and length of time left to run on the loan will remain the same!!!! I wrote a letter back to them asking how this is possible and we haven't heard anything from them. Does anybody have any advice? Another letter maybe what isthis compensation of £76 and should this be going to pay off the loan? I am afraid they will be able to do what they like as we are making reduced payments through Paplan and don't know the best route to take. Any help gratefully appreciated thanks.

Hello Fed up,

You need to consider that had they not applied this extortionate mis-sold insurance policy to your loan, they would not have put you in the position of not being able to pay the loan. They caused your indebtedness by their strive for profit

Furthermore this is your money that they taken and you have a right to control this not them.

Write back to them and demand a Breakdown of their calculations.

They will have obviously cancelled the ppi and any unpaid portion of ppi and interest would be put in the balance of the loan to reduce it, but they should be giving you the paid portion of ppi and interest in the form of a cheque for you to do with what you wish. This should also include the statutory 8% interest from the date the loan started to the day they pay you. They have deprived you of this money and therefore should compensate you for this. The fos would sanction this.

Keep plugging at them, so they know how serious you are and that you will not be fobbed off and controlled again by them.

If you know your figures, tell them what you want and tell them that if they are not prepared to refund what is righfully yours, plus the interest, you want their final response letter so you can approach the fos for investigation.

Yes I do believe the fos will charge them a fee for the complaint, I thought it was £500, but £400 is good enough for me

Also I think it is very important to report them to the FSA and the OFT. This will add to the complaints these financial companies are getting and if they get enough of them they will imposed very very hefty fines upon them

Good luck and keep us posted

Received a letter today in response to the first letter I sent at beginning of Sept, no mention of the one I sent last week although they have apologised for the delay in replying. They give the figures and the total redress is just above £650(what he has already paid) to reduce the arrears plus the cost of PPI which is just above £2k(don't want to put exact figures in case of roaming eyes!!) this, they say is in accordance with fos guidelines. He also has to pay the same payment so "his account can be brought up to date and to compensate for additional interest that is accrued" This still doesn't make sense if they have took £2600 off why does he still make the same payments until the loan finishes(which they said is still the same timeframe?) Shall I wait and see if they answer the second complaint where I asked for the money already paid to be paid in cheque form or just inform them we will go to FOS. They have put if he has any questions to ring them (NOT) so this is not their final response. Advice please

Hello Fedup,

This is just a normal response letter telling you they are prepared as a goodwill gesture to repay themselves your mis-sold PPI.

If you have sent another letter a give them a week to respond and then write back to them again stating your requirement to resolve your dispute and then that it to the fos

Stick to your guns, the fos will award 8% interest

Originally Posted by fedup74

Ha ha very kind of themselves to repay their own butts what they have taken off him, wish I worked there Will wait and see if they reply to the other letter. Just worried as the account is in arrears that they can do this (he is also making reduced payments due to our financial circumstances)

Another way to look at it Fedup, is that had they not mis-sold you this PPI, for their own unjust enrichment, you would have been in a better financial postion to continue with the payment and you would not be in the position that you find yourself in now

This is your money that they have taken and it is your decision as to what you wish to do with it now.

Just to add fuel to the fire read up on the Agreement enforceability thread I think from page 5 onward, there is extremely enlighting information for your to research on, regarding adding ppi on loans, that might make them sit to attention

Originally Posted by fedup74

Sorry to sound like a bimbo but where will I find this? Thankyou HHNF

You will get used to the site and I must confess there is not a bigger bimbo than myself:grin:

If you want to look for info, there is a search link on the thin blue banner up above, Its got user cp faq, calander and other links.

Click on the search link and type in what you wish to find, You still have to search a bit, but it narrows the links to what you want.

For speed here it is

Agreement Enforceability