PPI Reclaiming successes and failures
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- What were you reclaiming: loan PPI
- Who was the provider: Barclays
- How much did you get back: £2,500
- Did you get it back after a letter or did you go to the Financial Ombudsman: Letter Only
- And then write your brief reclaim tale: After reading other accounts, I realised that I was a very good candidate for somebody who was mis-sold PPI. I wrote to the Bank and after a few months of investigation they have refunded me all the money they charged for PPI, as well as the interest, for 2 loans that I paid off over 2 years ago. Thanks to your templates as I probably would not have had the word-power or courage to write. Without your website & TV programme, I would not even have had a CLUE this could be done. Thank you so much. It was worth the written work. Now awaiting responses from Credit Cards for the same thing. Thanks....
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Reclaimed: PPI paid (and interest)
From: Egg (without referring to the Ombudsman)
Amount back: £9,800!
I have actually just registered purely so I can tell you all the amazing experience I've had with Egg thanks to this site.
In 2001 I signed up, over the phone, for a personal loan with Egg to consolidate lots of credit card debt accrued as a student. I was young, stupid, nervous and had no clue what I was doing or talking about. While I'd blundered into an ok interest rate I agreed to PPI on the amount because the person on the end of the line implied (it was a long time ago so I can't say for sure if they said it outright but certainly the implication was strong) that I wouldn't get the loan unless I signed up with their PPI.
Having read about Martin's campaign in one of the Sunday papers I wrote to Egg saying I felt unhappy and that I had been missold my PPI and explained briefly why.
Initially I got a letter back saying they couldnt verify 'my story' as they didn't hold recordings of the call, and would not be refunding me the money paid but that I could get in touch with the Ombudsman. I wrote the letter and was going to post it this week.
But before I could, yesterday I got a *second* letter back from Egg saying 'as an ongoing commitment to improve service they conduct a selection of complaint outcome reviews' and having reviewed my complaint they were refunding the premiums I'd paid and interest - £9,800!
The money has gone onto the balance of my loan and means that I will have finished paying it off in another ten months rather than 2013 which was what it would have been otherwise.
I just want to cry with relief and excitement. It's brilliant and I can't thank Martin and the team here enough. Literally I just took the template and added my details and got this response better than my wildest dreams. 0 -
I recent visited here and saw you could reclaim the insurance if mis-sold, i wrote 1 letter and within 60 days i got all my insurance premium, the interst charged at the time plus 8% totalling over £1500.00 from the halifax. I would recommend everyone to try it, it only gots the price of a stamp. :money:0
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Hi all...
What were you reclaiming: PPI on personal loan of about £3,000, from 1999
Who was the provider: Halifax, now Bank of Scotland
How much did you get back: Haven't got it in my hand yet - only had letter and acceptance form today, but offered exactly what I asked for in the template letter ie. insurance premium, interest, plus interest at 8% - should be min. £500
Did you get it back after a letter or did you go to the Financial Ombudsman: Financial Ombudsman
And then write your brief reclaim tale
I chased this partly out of pure irritation at mis-selling, as I remember when I was first presented with the loan amounts I asked if I really had to have the insurance and queried if I could use a guarantor etc instead. The salesman insisted I had to have their insurance to have the loan. I pointed this out to them in the claim letter, they replied saying they 'could find no evidence of mis-selling', I said please look again, they replied the same again, I sent it off to the Financial Ombudsman as I'd said I would. (The form is very easy btw.) Financial Ombudsman service was great - they sent letter confirming receipt, letter explaining how they'd deal with the claim, and today I've had a letter saying that they've seen the file and 'as a gesture of goodwill' (HA!) Halifax will now pay me what I asked for. Sending acceptance form tomorrow. That's a pretty good profit on a couple of stamps... :j ... MSE rocks!!Debt free May 2016... DFW#2 in progress
Campervan paid off summer '21... MFW progress tbc0 -
thats great news, well happy for you, when did you send your claim to the FSA? how long did it take with them?RosaBernicia wrote: »Hi all...
What were you reclaiming: PPI on personal loan of about £3,000, from 1999
Who was the provider: Halifax, now Bank of Scotland
How much did you get back: Haven't got it in my hand yet - only had letter and acceptance form today, but offered exactly what I asked for in the template letter ie. insurance premium, interest, plus interest at 8% - should be min. £500
Did you get it back after a letter or did you go to the Financial Ombudsman: Financial Ombudsman
And then write your brief reclaim tale
I chased this partly out of pure irritation at mis-selling, as I remember when I was first presented with the loan amounts I asked if I really had to have the insurance and queried if I could use a guarantor etc instead. The salesman insisted I had to have their insurance to have the loan. I pointed this out to them in the claim letter, they replied saying they 'could find no evidence of mis-selling', I said please look again, they replied the same again, I sent it off to the Financial Ombudsman as I'd said I would. (The form is very easy btw.) Financial Ombudsman service was great - they sent letter confirming receipt, letter explaining how they'd deal with the claim, and today I've had a letter saying that they've seen the file and 'as a gesture of goodwill' (HA!) Halifax will now pay me what I asked for. Sending acceptance form tomorrow. That's a pretty good profit on a couple of stamps... :j ... MSE rocks!!0 -
Definately Di, i would like to read cases that have'nt gone so well? do you know of any?
lol, well I've had a few but not have anything with halifax myself.
I expect there will be a few on here battling them, if I come across any I will let ya know....;) .
I assume you do mean cases against Halifax hun ?
Di.
xThe one and only "Dizzy Di"0 -
1: Personal Loan Insurance
2: Bank of Scotland (Halifax)
3: In excess of £2000.00
4: Initially a claim letter was sent to my bank (Halifax Plc) using one of the template letters provided by this site, which the bank refused stating that my loan was not mis-sold. The case was then referred to the Financial Ombudsman who secured a complete refund of my Loan Insurance payments plus interest at 8%.:T
5: In February 2005 I suffered a heart attack; naturally I made a claim via my loan insurance which was refused because of a previous medical condition.
This refusal to honour my insurance claim subsequently resulted in my bankruptcy. (As a matter of interest the judge at my bankruptcy hearing did state that he hoped I would be suing the bank). However, I suspect like many others, the thought of pursuing such a David and Goliath situation was not even a matter for consideration.
When I arranged my loan at the bank I had assumed that I had taken the proper precautions in the event that I was unable to work, at no point was my previous or current health mentioned.
My claim against the bank was made following the Martin Lewis television program which highlighted the unlawful way in which loan insurance is sold.
Incidentally I am also currently engaged in quite a battle with the VOA to have my valuation banding reduced. As I have now found a much higher value detached property which is banded the same as mine and had its banding changed by the Valuation Tribunal I am cautiously optimistic.
I am also now feeling brave enough to tackle the banks for a refund on my credit cards insurance which was also refused following my heart attack. (A funny thing happened following the refusal of my claim; the bank of Scotland stopped taking the card protection insurance.)
Keep up the good work Martin, it’s about time we had our very own David to stand up to the Goliaths that are constantly screwing us and getting away with it because they are BIG.
Regards
LT0 -
yeah 8 months with fos . 2 months before with bank of scotland. worth the wait:jgreat news... is that 8 months it was with the FOS or from the start when you wrote to BOS? just trying to get a rough idea how much more longer im going to have to wait., as mine has been with them from January 08, im getting a lil impatient now, as really could do with knowing the outcome
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