BHF & BoS Pay up

[thecatsdad]

Couple of stories;

All this PPI buzz was kind of going over my head as I didn't think it 'applied' to me; yes like some, I had credit and I had credit problems, but had never seen PPI as being on my radar.

 

So, out of the blue last October, I got a letter from BoS, telling me that they had been applying PPI to a credit card account I had through Sainsbury's and as they couldn't find a signed application for it on my account, they had decided that they were going to refund me.

A month later, I got a cheque for £890.00.

 

I then started looking at other accounts I hold and came across an account with Black Horse Finance and their subsidiary Cardif Pinnacle.

Looked on this fine site, found the letter template and sent it off - suitably modified - to BHF. a week later I received a questionnaire which I completed and sent back and today received a letter and an offer in full and final for just over £1100.

 

Not sure if I'm going to accept this - no goodwill or 'consequential' payment - and they took £60.00 in tax from the interest which was something the BoS settlement didn't do.

 

Anyway, thanks for the good advice, letters and general pleasant experience which abounds on the CAG site; I shall be donating from my ill-gotten gains in due course.

 

Many thanks

[dx100uk]

they can only take tax from the 8% portion, not the rest

 

have you done an soc to check they are correct/

 

dx

[thecatsdad]

they can only take tax from the 8% portion, not the rest

 

have you done an soc to check they are correct/

 

dx

 

I did, the figures are slightly different - in fact, mine are lower - but the difference was only £20.

 

And yes, they only took the 8% from the interest.

A question, as the BoS settlement didn't take the 8%, do I have to tell the taxman and ante up the tax?

[dx100uk]

what do you mean they didn't take the 8%

we need to do this on your thread

not discuss this here

 

dx

[thecatsdad]

what do you mean they didn't take the 8%

we need to do this on your thread

not discuss this here

 

dx

Umm, didn't have a thread, just hijacked this one....so need clarification

[thecatsdad]

Carried on from 'Successes' at the behest of DX.

Hopefully the mods will cart the rest of my posts over here to save me re-writing them!!

 

Anyway, an update is that I have written to BHF telling them that I like the offer, but am disappointed that they haven't ante'd up any compo.

Letter only went today, so I'll post outcome when it comes.

 

Because the BoS settlement kinda came out of the blue, I didn't realise that compo might be a part of it so didn't ask for it.

Might I go back to them retrospectively and ask for compo?

I've re-read the letter BoS sent and there is no mention of tax being taken, so does that leave it to me to settle with the Inland Revenue?

[ims21]

Posts from Sticky moved to here

[ims21]

Hi

 

So with the BHF offer....does it not conform to fos guidelines? What does your spreadsheet come out at?

 

With regard to both of them, what compensation are you looking for? The bank won't offer anything over and above a regulatory based award.

 

All the interest you receive (the 8% bit) must be declared to the tax authorities

 

ims

[thecatsdad]

Hi

 

So with the BHF offer....does it not conform to fos guidelines? What does your spreadsheet come out at?

 

With regard to both of them, what compensation are you looking for? The bank won't offer anything over and above a regulatory based award.

 

All the interest you receive (the 8% bit) must be declared to the tax authorities

 

ims

 

As far as compensation is concerned, I'll take anything that is offered; goodwill would be enough.

 

FoS guidelines? Not something I'm overly familiar with, but (oh God) I'm assuming BHF have adhered to them.

There's is 1168, mine are 1184 but that could be a date related thing and for the sake of the odd £20, I'm not overly bothered and mine didn't take into account the tax deducted which was 60 quid (this is BHF).

BoS didn't deduct any tax that they told me about.

 

Ian

[thecatsdad]

Posts from Sticky moved to here

 

Thank you

[thecatsdad]

Just to update this;

BHF offered all the PPI back plus interest but no compensation.

I wrote back to them saying that I wasn't happy that they hadn't offered any compensation, but they wrote back saying 'tough', basically.

So i'm going to try again to them but ante up a letter of complaint to the FOS/FLA. Funnily enough, in their settlement offer letter, they tell me that this complaint can't be dealt with by the FOS as it was issued between 01/12/01 & 31/03/03 and from 14/01/05 onward and that I have to go to the FLA.

However, in their rejection of compensation letter, they tell me I have to go to the FOS if I'm not satisfied....