Jump to content

Tungata

Registered Users

Change your profile picture
  • Content Count

    38
  • Joined

  • Last visited

Community Reputation

1 Neutral

About Tungata

  • Rank
    Basic Account Holder
  1. Thanks for the super-quick response Understand the HMRC directive, but not at all happy that Hx get to decide when they pay HMRC and then gain the benefit in the meantime. Meanwhile, I'm left pondering if I'm due a fight with HMRC....
  2. After them trying every possible trick to wriggle out of their obligation to do so and then unnecessarily wasting both my time and the time and efforts of FOS, after a fully 2 years, Halifax Bank have finally conceded (after being instructed by FOS to do so) and made me a settlement offer for miss-selling me PPI more than 15 years ago. If nothing else, this paragraph, should simply say, be patient and stick at it On reading the settlement offer letter, I was surprised to that the bank have unilaterally decided to make a deduction from the amount due to me for “taxation due, at the standard rate” Whilst the total compensation amount offered is within a few pounds of what I have calculated, I had not considered that the bank would deduct 25% of the interest element. Whilst I knew that I would possibly have a tax liability on the interest element of this compensation, my immediate reaction to this was that my Tax affairs are between me and HMRC and any liability due (to HMRC) is mine to sort out direct, at the end of the Tax Year. I called Halifax to question why they had made this decision. The response given was that this kind of deduction is “standard practice and in accordance with FSA guidelines” Can anyone advise on this please? I completely disagree with the stance taken, this bank has no knowledge of my tax code, my Tax number, my payment relationship with HMRC, or liabilities I have (if any), so any errors in calculation and or payment will be practically impossible for me to recover downstream. Whilst the bank said they would write to me confirm the deduction made, providing a copy of their notification to HMRC, I do not trust them to either do so, or get it right in a timescale that is consistent with any liabilities I have to HMRC. I also do not trust them to immediately pay the ”amount due”, giving them the opportunity to take the benefit from any interest due, rather than me. This is a bank that has already miss-sold me PPI, denied any wrong doing when I complained, lied to me by ignoring their own industry code of conduct in rejecting my complaint and then, further tried to deceive FOS when they got involved so why should I trust Halifax to correctly pay the Government on time, on my behalf. If (when?) they get it wrong, who will be left holding the baby? How can I stop these crooks doing this? I’d phone FOS, but suspect that will not want to get involved as it's not in their remit, so is there a standard letter template demanding them to pay me the amount due in full? TIA
  3. Despite the recommendation of IMS to chase this after 2 weeks, I did not do so until last week. I called them last week, essentially to ask when I can expect a response to my rejection (of their rejection) and to remind them that I am expecting an answer. I was told that my case had only recently been passed on for a more detailed review. Not bad being as they had then had my letter for 7 weeks..... Ultimately, I'm in no rush to close this quickly, so I'm reasonably comfortable that they are (supposedly) looking at it again
  4. Just to pick up where I left off with this Finally got round to reading the FSA Handbook and the Appendix, loads of useful stuff in there, so thanks for the tip Basically I've gone back to Halifax, saying that my understanding is that they · Should not rely solely on the detail within the policy’s terms and conditions. Which they are · Should not reject my claim based on the fact that I signed documentation. Which they are · Should not reject my claim because I failed to exercise a right to cancel. Which they are · Should not give more weight to general evidence of selling practices at that time. Which they are Sent this off today (registered of course). Don't know where it will get me, but I'm trying to get my ducks in a row for taking this to FOS Are Halifax under any obligation to respond to my follow up letter within a given period of time? TIA T
  5. Another question In the rejection letter, from Halifax, they state: It should be noted that prior to 2005 the sale of PPI was not regulated by the Financial Services Authority. However we are members of The Association of British Insurers which expects its members to conduct business with the utmost faith and integrity. Given that I’m pursuing a claim that relates to a PL taken out on 1999, does this have any real relevance or is it just smokescreen?
  6. Thanks for this, I'll try and get my head round all the points in the Appendix I have read other threads on here about the relevance of the 30 day rule, which based on my limited knowledge is difficult to argue against. What is the recommendation to counter this point?
  7. This weekend I’ve received a letter from Halifax rejecting a PPI miss-selling claim and I’d appreciate any guidance that can be offered over possible next steps Background to my claim is as follows Personal Loan taken out 12/13 years ago. I know PPI had been applied A SAR to Halifax returned the original agreement only, with no other data/information Submitted the claim, using the FOS Questionnaire and the CAG Single premium PPI spreadsheet My claim essentially stated that (at the time of the sale) Benefits & exclusions were not fully explained Not told it was optional Not told it could be cancelled Not told I could have sought cover elsewhere Not asked about my health or employer benefits Led to believe that PPI would enhance a successful loan application and was pressured to take out the policy to meet sales targets The reasons for rejection basically falls into a number of categories Benefits and exclusions were defined in a policy booklet sent to me at the time of the application I had 30 days to cancel and the agreement and policy booklet defined all of the costs Sales techniques used at the time meant that I wasn’t pressured No alternative products were available at that time Identification of particular needs would only have been taken where it was practical to do so Halifax are satisfied that there was no miss-selling Finally the letter advises I have the option to submit additional information, or otherwise I can take the complaint to FOS Given all of the above, it appears to me that Halifax are not rejecting the claim based on any hard evidence, but more over “what would have happened at that time”, therefore my interpretation of this is that it becomes a dispute over my word against theirs and therefore it will difficult to force a change in this viewpoint. Is there any guidance that can be offered about where I can go with this, or am I at the end of the road? I’ve got initial views, but would welcome any alternative views before I make any further decisions on this TIA
  8. Got the SAR back from Santander today (41st day after my letter) A one pager with no enclosures, basically saying "relationship finished more than 6 years ago, we do not retain documentation, deleted in line with our retention policy" blah, blah, blah. No comments about certificates of destruction Etc, but they did return my cheque (which was nice....) The SAR related to a loan taken out in 2004, that had PPI. I know this because I still have the original loan agreement, but as it was paid off after less than 12 months (from windfall income) I was fishing for info so that I can construct the Single Payment PPI Spreadsheet. Any advice on next steps? From the Loan Agreement, I know the start date and the PPI monthly premium, but have no idea about the end date, or if the settlement figure included full payment of the PPI premium or not and more importantly, when the loan was actually settled. My thoughts are just make the claim as if the loan was fulfilled and let them argue the toss (which should be very interesting if they have no data) Any views/experiences? TIA TZ
  9. Hi, I SAR'd Santander on the 17th April, looking for data for a (2005 Personal Loan account with PPI) claim, yet to be made. SAR sent registered post. 30 days (ish) later, the cheque has not been cashed, which says to me that they have their fingers in their ears, saying "la la la" Any advice on next steps? Call them, reminding them of the 40 days? Is there a recommended number to call? Thanx TZ
  10. I SAR'd MBNA on 6th Jan. Despite them banking my cheque, I've not heard a peep out of them since.... 40 days is up tomorrow (15th). Allowing for a couple days for postage, if I get nothing by the weekend I'm gonna hit them with the "failed" template 3 from the CAG library, but before I do this, has anyone else got any experiences or help they'd like to share on MBNA's performance in responding to SARs? ..... or the BS excuses? Thanks T
  11. Thanks for the response. Sometimes it's always good to have second opinion to clarify what the actual objective is Yes, we do have all the stuff about what the initial loan was, how much was PPI, what was paid and when Etc FOS Questionnaire under construction now....
  12. Sorry to gatecrash the thread, but have you got an e-mail address for the VP mentioned? I SAR'd MBNA on the 6th Jan and haven't heard a dicky-bird since. Not even an acknowledgement. Unsurprisingly, they've banked my cheque through. I'd like to give them a nudge to "remind" them about the 40 day obligation Can you help?
  13. I need some help in understanding the information that was returned following an SAR issued on HBOS. This relates to a loan that my wife took out in ‘06 that had 42% of the capital sum applied as PPI. Specifically, what am I looking for? In summary the useful info I have got is Original signed contract (showing “insurance” being applied to the loan amount) Other papers provided at time of contract Payments made and dates Etc The not so useful info I have got A paper (appears to have been issued with the contract, for signature) that states that based on needs have been assessed and we recommend insurance. Precise text below Information not provided or "missing" Transcript from the point of sale (via telephone) - there is no mention of this in the stuff that came back from HBOS My wife maintains that at time of application, she was she was led to believe that the likelihood of a successful loan application would increase if PPI was taken out. She has no recollection of being told that it was optional and that she could obtain cover elsewhere and she's convinced she was not questioned over her health etc, yet the following appears to show that she’s been asked specific questions One of the papers returned by the SAR (in the contract pack) states: Need Mrs XXXXXXX you have confirmed that you are working and have applied for a loan. You require the peace of mind that your monthly loan repayment would be covered should your income stop unexpectedly. Our Recommendation and The Reasons For Making Them We are advising and making a recommendation to you after we have assessed your needs based on the information provided to us, the product recommended is suitable because it will cover you should your income stop unexpectedly. We recommend that you consider our Creditcare Gold, as you have advised that you do not have existing cover that you wish to use, that would protect your new commitment to us. You have advised that you have taken into account the cost of the insurance, which will be added to your new monthly loan payment on completion of your loan. Given all that, the (signed) contract we have clearly show that the “Creditcare Gold” box has not been checked/ticked These two points are in conflict. Any hints or tips about this? Or this just poor-management by HBOS, that we can use to our advantage?
  14. Thanks for the info guys. I think I'll just whistle up HMRC as soon as this tax year is over and get it sorted It looks like I now need to reel-in my wife's ambitions about blowing the lot on shoes....
  15. Thanx for the guidance I'm a higher rate tax payer so, based on my figures and these comments, I see two scenarios 1) Tax deducted at Source Total Interest = £3125 20% Tax deducted (at source) = £625 Amount paid to me = £2,500 My Tax liability (another 20%) = £625 2) Gross amount paid to me Amount paid to me = £2,500 My Tax liability (40%) = £1,000 So, I need to set aside between £625 and £1000, to keep the Revenue happy, at the end of this Tax year Correct? As a side issue. how do the Revenue get to know about this? My honesty? Cheers
×
×
  • Create New...