Drinkies are on me

[Purple_Popple]

...arrived home to a lovely surprise from my bank, they have given me compensation for my ppi claim !! :) Only downside is that it is taxable.... but better than a kick in the guts. :)

[JonnyBoy12]

Oh I would not be too sure about that. Have you ever had a kick in the guts to compare it with then?

[factor-fiction]

Good news. But it's only the interest on the amounts due that is taxable. The actual compensation is not taxable. And the rate of interest allowed on amounts due is very generous so I wouldn't worry about the small tax element

[Anngel123]

Found out today that my nephew got £10,000 for this. Great to see the little people getting something back from the financial sharks.

[factor-fiction]

£10,000 is a lot. Good result, anngel123. It's good that misselling has been addressed but I've never really worked out how anyone could have paid this much in loan insurance and not realise/wonder why they were paying it. It must have been a huge loan in your nephew's case