PPI Reclaiming successes and failures

Hi all, I'm more of a lurker than a poster but I have to share my success with you all and hopefully encourage others to go ahead and claim as well.

What were you reclaiming: £15,000 loan plus £3307.91 PPI
Who was the provider: Lloyds TSB
How much did you get back: £3307.91 + interest
Did you get it back after a letter or did you go to the Financial Ombudsman: After sending 1st template letter
And then write your brief reclaim tale: I sent the first template letter on 26/09/07 and adjusted to my own needs, I was only a temp worker at the time of taking out the loan and on a fixed 3 month contract.

Received a letter back within a week to say "We are looking into it". Received further letter today to say basically sorry for any mis-understanding and as a "gesture of goodwill" they are offering to cancel the PPI from start date of loan (Oct 04) and refund to the total of £3307.91 + interest to come off outstanding amount on my loan. If I keep my repayments the same amount every month then this means I've now saved about 16 months off of the loan term - fab!!

To anyone out there thinking about claiming but not sure, I say go for it. If you don't ask, you don't get!

I know some people have asked for this address before so...
Best address to write to for Lloyds TSB LOAN PPI - (different for cards)
Customer Care,
Lloyds TSB Insurance,
Tredegar Park,
Newport,
South Wales.
NP10 8SB

Thank you to Martin & all you MSE peeps out there. Martin for PM I reckon!:T:T :money::T:T

TWO LETTERS, TWO STAMPS, TWO SUCCESSES!!!!!

Reclaiming: - PPI from a loan I had between 2002 and 2004
Provided By: - HSBC
Got Back: - £1,088.44

I have just got in from work to find a letter from HSBC. They basically state that although they cannot prove my claim "as a gesture of goodwill" they're returning my PPI of £1,088.44. All it took was one letter and I am nearly £1,100 better off.

If anyone is reading this and thinking "shall I, shalln't I", my advice would be to go for it. As you can see from the heading, it's cost me two stamps for two successes totalling a few quid short of £3K (see post 58 for my earlier success). All it took was the two original letters as downloaded from this very website (Martin, you're a genius).

This is the next big consumer revolution after Bank Charges so I'd urge you all to "jump on the bandwagon" before its too late. Good luck to you all

pmolloy wrote: »

Natwest are refusing to pay back anything. Their reason is that they sent me all the details in the post following the loan application over the phone and if I didn't read it through properly then its not their fault.

The problem is they are absolutely right. It does not matter what was said over the phone or what was left out in the explanation of the policy. It all gets sent in writing anyway. If I choose not to read through the whole thing including all the small print there is nothing I, or the Financial Ombudsman, can do about it.

Unless you were told a complete lie by the bank at the time of application eg; "you have to take out this policy or we won't give you the loan", I suspect most people are going to get the same dissapointing response from their lenders.

Not completely true.

Most people i know who have been refunded, did not read the papers that were sent. But one has been refunded on the basis that they had a pre exisiting medical condition, and another because they did not work over 16 hours per week, and were self employed.

Its just the look of the draw in the first step, as some are paying out as a matter fo course, and some are not. But not reading the documents, is not a good enough defence by the companies concerned.

pmolloy wrote: »

Natwest are refusing to pay back anything. Their reason is that they sent me all the details in the post following the loan application over the phone and if I didn't read it through properly then its not their fault.

The problem is they are absolutely right. It does not matter what was said over the phone or what was left out in the explanation of the policy. It all gets sent in writing anyway. If I choose not to read through the whole thing including all the small print there is nothing I, or the Financial Ombudsman, can do about it.

Unless you were told a complete lie by the bank at the time of application eg; "you have to take out this policy or we won't give you the loan", I suspect most people are going to get the same dissapointing response from their lenders.

Lloyds are claiming the same for us but we are still going ahead with the second letter as my OH was not told clearly that the PPI was even added. He was just told to sign here, here and here. From what I can see of what Martin says, this is a miss sell situation?

PPI on car loan
Northern Rock
money back plus interests immediately after first letter (total of £524!)

I got a loan for my car two and half years ago and during the applicatin my husband was told he was in need - due to his circumstances?!?!? - to purchase PPI.
He told them he did not feel he needed it but was told that in orrder to get the loan he would have had to also get the PPI. The provider was Northern Rock.
The loan was for 2 years so we were paying monthly about £20 only for PPI. Until the article on MoneySavingExpert came out about 3 weeks ago, I hadn't thought about it. We had finished to pay the loan in July so I was just pleased we didn't have to pay it anymore (although I was still upset by the fact that they had made me purchase the PPI, too).
We used the template provided on the website and within 2 weeks we got a reply saying that, after listening to the conversation my husband had with the loan adviser, they agreed that he hadn't followed their guidelines for selling the PPI so they were "happy" to refund us the whole amount (about £480) plus the 8% interest (suggested in the letter!).
I was really surprised I got a positive response in the first reply as in my experience I always have to "fight and argue and waste an aweful lot of time"
when doing those things but this one went smoothly!