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PPI Reclaiming successes and failures
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Well done with that. :beer: :jSome Success for my mum, whose claim I have also been helping with. She has had 12 loans off the RBOS of scotland over a long peroid of time and on all was mis-sold PPI due to having a pre-existing illness/pressure sold/told it was good for the application to get it/and then just told it was part of the loan.
She has had in 2 rejection letters with regards to 2 loans but today she got a letter today with a goodwill gesture towards 5 loans.
£1265.69
£1242.48
£881.69
£614.55
£551.07
Total = £4555.48
I havent read the letter but it clearly doesnt include interest to date and the 8% a court would add but I doubt my mum will take it further with these ones because she isnt very well off and needs the money. Thank you for your help on this matter it has made my mum very happy which makes me happy. I will keep you updated on the other 7 loans they have not responded to so far.:beer:0 -
What did it say then?? If you let someone know what it said then maybe we can help.. Sometime if the loan is still active they offer to redo the loan and reduce the term. Sometimes they are goodwill offers...Estereggeater wrote: »Hi and well done Veomar,:beer:
I have just got a letter back from the FOS with an offer and mine did not have money offered in writting like your letter.
I wanted to know if your offer letter was laid out as above or if you worked it out yourself,
Mine just has a load of wordiag and no clear £iage, I'm thinking over this before I accept and feel cheated.
Any thoughts from you or anyone ?0 -
Hi
Well BOS, will not accept liability, goodwill gesture blah blah
I owe about £700 on a loan thats been passed to a collecting agency
They will calculate what I should have paid if the PPI had not been paid
----They are giving back the PPI fees penalties and interest plus 8 % and
will redue the loan if it's still in debt
My questions are can I ask for figures before I accept.
Can I get the refund via cheque and then pay the loan off my self.
Or as it's a goodwill gesture, take what I am offered and not push my luck
Ta
Estereggeater0 -
You definately need a breakdown of the figure and also get it posted on the reclaiming discussion thread so someone can check before accepting it.Estereggeater wrote: »Hi
Well BOS, will not accept liability, goodwill gesture blah blah
I owe about £700 on a loan thats been passed to a collecting agency
They will calculate what I should have paid if the PPI had not been paid
----They are giving back the PPI fees penalties and interest plus 8 % and
will redue the loan if it's still in debt
My questions are can I ask for figures before I accept.
Can I get the refund via cheque and then pay the loan off my self.
Or as it's a goodwill gesture, take what I am offered and not push my luck
Ta
Estereggeater
How can you accept an amount when you don't know what you are accepting.0 -
I've managed to reclaim PPI from my Halifax loan. I took it out in January last year and the girl in branch got me to take it out while I checked if my work policy gave me the same cover. I wrote off to cancel it within the 30 days and thought it had been cancelled off.
After finding this website and browsing the forums I noticed this discussion and contacted the bank as my repayments hadn't changed. Low and behold the PPI had not been cancelled. After complaining at the beginning of August, the Halifax have contacted me to say I am getting around £360 back representing money paid, interest on it plus 8% interest and a goodwill refund of 2 months interest on the loan. My current loan is being cancelled and a new one arranged for the outstanding balance once the PPI is taken off as apparently this is the only way they do it. Pleased with the result and would liket to thank Martin and the people on the board for providing this information otherwise I would have been blindly still paying for something which should have been cancelled some time ago0 -
Some Success for my mum, whose claim I have also been helping with. She has had 12 loans off the RBOS of scotland over a long peroid of time and on all was mis-sold PPI due to having a pre-existing illness/pressure sold/told it was good for the application to get it/and then just told it was part of the loan.
She has had in 2 rejection letters with regards to 2 loans but today she got a letter today with a goodwill gesture towards 5 loans.
£1265.69
£1242.48
£881.69
£614.55
£551.07
Total = £4555.48
I havent read the letter but it clearly doesnt include interest to date and the 8% a court would add but I doubt my mum will take it further with these ones because she isnt very well off and needs the money. Thank you for your help on this matter it has made my mum very happy which makes me happy. I will keep you updated on the other 7 loans they have not responded to so far.:beer:
Lookslike the bank made !!!! of the last figure £551.07 trying to catch my mum out. In the letter it mentions all the amounts on each loan and on the last one it mentions you paid something like £1019.10p in loan protection overall but when you go to the declaration of acceptance form it only offers £551.07 which is clearly a mistake to try and catch my mum out. I have told my mum sign the first 4 which are correct but call her case consultant whose name is on the letter and explain this and ask him to send out another acceptance letter with the correct amount.
I was going to contact the financial ombudsman about the other 7 loans, the 2 rejections she has had and the other 5 I thought they had neglected to mention but after reading the letter I see that they state that they are still investigating the other 5 loans and will be in contact shortly. Hopefully that will be in the 1k-3k region or more. Means my mum can put some in a wee savings account until she retires.:T0 -
I've used Martins forum a few times - usually when changing mobile contracts as it's good to see what other people can bargain down to. I didn't know you could reclaim PPI until I read it on the site, and boy am I glad I did!
I took out a loan with HFC in August 2001, and typically they added PPI. I settled the loan early in 2004 and received the usual Consumer Credit Rebate, and I thought nothing more about it until reading the articles here. When I actually went through all the conditions properly (suppose I should have done so at the time, but like many I assumed it was necessary to get the loan) the PPI was only for a period of 60 months even though the loan was for 84 months - it also included life assurance, which both my wife and I had with our pensions and mortgage protection, and informed them of at the time as they did a sort of financial health check and we discussed what direct debits were cominf from our account
Following the guidelines here, I contacted the bank in April 2008 - 8 weeks later no reply, so I sent another letter. Received the standard "under investigation" letter so left it for another few weeks. At the end of July still no response so contacted them to say they had 10 working days to respond or I would pass complaint onto Financial Ombudsman. Another latter saying investigation still ongoing, and if I wished I could contact the Ombudsman, but they hoped it would not be necessary.
Well I was getting a bit dizzy on this merry-go-round of "investigation", so sent complaint off to Ombusdman - Could not believe how easy it was, one simple form and a week or so later, confirmation from them that complaint had been received and would be looked at at earliest opportunity. At this stage I just thought we'll let it run and see what happens, although it could take months to sort out, and if I get something back, well and good.
Just this morning a nice little letter from HFC (just over a month since my complaint to the ombudsman) the usual "careful consideration" and "unable to ascertain if policy was appropriate for my needs" etc etc...
Bottom line - full refund of PPI (£3500) and interest charged upfront on the PPI (£3000) - so £6500 (less the small rebate I got when settling early of £730), plus interest of 8% plus £100 goodwill payment - all in all just under £6200.
All this for a few letters, and about a £1 in stamps... you don't get this sort of ROI anywhere else.
So a big :T:T:T:T to Martin for yet again highlighting another of the financial worlds slightly dubious practices - just off now to ask wife if I can have money for :beer: before she spends it all on revamping the entire house!!0 -
Well done fpj
that will give hope to all others claiming0 -
Hi just thought that i would update you with whats happening with my claim.
I arrived home this evening to find yet another letter from Lombard Direct, still refusing to uphold my complaint. And advising me to contact the FOS, even through i asked for a copy of the phone conversation that i had with the salesperson to be sent to me there is no mention of this in this letter. so i will now be taking my complaint to the FOS, hopefully with more success. Will continue to let you know the out come. I also have 2 other complaints in for Natwest, and the same case worker from my Lombard complaint is dealing with my Natwest!!!0 -
Wrote the template letter in December to Beneficial Finance - had no information about the loan we took out so just gave them full name address and date of birth etc. Received a standard letter in april saying they are investigating. Heard nothing since and didn't really expect anything at all. Yesterday got a letter offering £1100 plus £150 goodwill gesture which makes just over 1300 altogether.:beer: :beer: :beer: :beer:
The loan was from 2002 and paid up 3 years early0
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