Credit card companies pay out £50K compensation for ONE woman's claim on mis-sold PPI

[Curlyben]

Outstanding

A woman has claimed a huge amount of money back for PPI mis-selling in one of the biggest claims to date - won back herself with a free guide and not using a claims firm.

Read more: http://www.dailymail.co.uk/money/car...#ixzz1uvbWknku

[labman]

Re: Credit card companies pay out £50K compensation for ONE woman's claim on mis-sold

At the end of the day it is only her own money she has reclaimed. As with all ppi claims, it's easy to think of the money as a bonus, but it isn't, it's the consumer's own money which has effectively been placed in an enforced saving scheme.

I have no doubt there will still be thousands of people who don't claim who are eligible to do so.

[Sapphire]

Re: Credit card companies pay out £50K compensation for ONE woman's claim on mis-sold

I hope she remembers that its taxable.

[labman]

Re: Credit card companies pay out £50K compensation for ONE woman's claim on mis-sold

I hope she remembers that its taxable.

Is it? Why? She already paid tax on the money before it went into the ppi.

[enaid]

Re: Credit card companies pay out £50K compensation for ONE woman's claim on mis-sold

The interest received is taxable not the full amount

[Sapphire]

Re: Credit card companies pay out £50K compensation for ONE woman's claim on mis-sold

Yep, you have to declare it on your tax return.

[Angry Cat]

Re: Credit card companies pay out £50K compensation for ONE woman's claim on mis-sold

Good old MBNA, dont you just love them!

Posted by a proud member of the MBNA fan club

[Angry Cat]

Re: Credit card companies pay out £50K compensation for ONE woman's claim on mis-sold

The interest received is taxable not the full amount

http://www.bbc.co.uk/news/business-18032740