PPI Reclaiming successes and failures

di3004 · 8 July 2010 at 11:00PM

wookie66 wrote: »

First of all a MASSIVE thanks to Martin and this site without which I would not have got the result of £3500 repayment of PPI protection from HSBC

I took it upon myself to recover this from HSBC who had (mis)sold PPI in 2004 on a £14000 loan I took out

Followed the simple straightforward instructions on this site, sent letter and FOS template in May 2010, got two holding letters from HSBC saying they were still investigating in June 2010 and finally today I got a letter from HSBC settling the claim but denying any wrongdoing (typical!)

The repayment of £3500 includes interest at 8% so a right result

Hope other readers are encouraged to submit their own claim if they have ever taken out a loan with PPI.

And on a final note do not whatever you decide get a third party to do this for you since they usually take a % of the repayment for managing your claim, something which anyone should be able to do without difficulty. There are plenty of pointers and guidance on this website.

Good luck to those still awaiting the outcome of their claims

Excellent :T:j, well done and Congratulations!:beer:

kazdolly · 9 July 2010 at 10:15AM

Hi,I am currently claiming against Welcome Finance .I phoned them at the start of the week as that was their 8weeks PLUS an extra 4weeks timescale to reply up .I was told that an offer was being sent out in the post (still waiting)The offer is just under 5K but the way I added all the PPI up for the 9 loans ,I calculated it at over 10K at least lol .Each loan was a top up from the last and PPI was added each time ,surely when each new loan and PPi were started ,the previous PPI was cleared as each new agreement has a new PPI !!if that makes sense ??!!The way Ive calculated it is that each time a new loan was taken then the PPI was cleared in full before the new PPI took effect.Im under the impression that Welcome are trying to say that each time a new loan was taken ,then the PPI was paused to that point then amended according to the new loan amount ,but this is confusing me just because of each agreement showing a new higher amount each time ???>:( Also does anyone know the timescale for welcome to issue the cheque once they have received the acceptance form??(i maybe accept /i maybe not

) thx kaz xx

di3004 · 9 July 2010 at 11:24AM

kazdolly wrote: »

Hi,I am currently claiming against Welcome Finance .I phoned them at the start of the week as that was their 8weeks PLUS an extra 4weeks timescale to reply up .I was told that an offer was being sent out in the post (still waiting)The offer is just under 5K but the way I added all the PPI up for the 9 loans ,I calculated it at over 10K at least lol .Each loan was a top up from the last and PPI was added each time ,surely when each new loan and PPi were started ,the previous PPI was cleared as each new agreement has a new PPI !!if that makes sense ??!!The way Ive calculated it is that each time a new loan was taken then the PPI was cleared in full before the new PPI took effect.Im under the impression that Welcome are trying to say that each time a new loan was taken ,then the PPI was paused to that point then amended according to the new loan amount ,but this is confusing me just because of each agreement showing a new higher amount each time ???>:( Also does anyone know the timescale for welcome to issue the cheque once they have received the acceptance form??(i maybe accept /i maybe not ) thx kaz xx

Hi Kaz
Hope your well.
Well done!:beer:

Did they state the offer in writing or just on the phone?

If not in writing then hopefully they will send this out to you soon, and if they said that they were to put you back in the position as if you did not take out the ppi, they should as well include interest on top of that too.

I am not sure on the timescales with these, but I do know lots on here have had dealings with them and will hopefully post soon to let you know.:);)

Di
X

amersall · 9 July 2010 at 11:53AM

kazdolly wrote: »

Hi,I am currently claiming against Welcome Finance .I phoned them at the start of the week as that was their 8weeks PLUS an extra 4weeks timescale to reply up .I was told that an offer was being sent out in the post (still waiting)The offer is just under 5K but the way I added all the PPI up for the 9 loans ,I calculated it at over 10K at least lol .Each loan was a top up from the last and PPI was added each time ,surely when each new loan and PPi were started ,the previous PPI was cleared as each new agreement has a new PPI !!if that makes sense ??!!The way Ive calculated it is that each time a new loan was taken then the PPI was cleared in full before the new PPI took effect.Im under the impression that Welcome are trying to say that each time a new loan was taken ,then the PPI was paused to that point then amended according to the new loan amount ,but this is confusing me just because of each agreement showing a new higher amount each time ???>:( Also does anyone know the timescale for welcome to issue the cheque once they have received the acceptance form??(i maybe accept /i maybe not ) thx kaz xx

Well done on your win:j you only get ppi back that you have paid to date,example,say you paid 10 months loan 1, that is the ppi you get back with interest.loan 2 paid 24 months, that is what you get back with interest,and so on, you dont get total ppi back as you will not have paid all the ppi back for each loan, when each loan is settled you would have had a rebate for the unused ppi,sometimes the ppi is more each loan if you borrow more. Hope you understand and this helps x some one i am sure who has experience with top up loans will be able to help you more on here.When you get your breakdown you will see what they have done.

knightsofmeltonia · 9 July 2010 at 1:47PM

Some good news and bad from HSBC this morning, they agreed with 1 claim I made and will pay me £5429 on a loan of £14000 :j

They have rejected my 2 other claims so if it's ok I'll start a thread as I would like some advice please

di3004 · 9 July 2010 at 1:50PM

knightsofmeltonia wrote: »

Some good news and bad from HSBC this morning, they agreed with 1 claim I made and will pay me £5429 on a loan of £14000 :j

They have rejected my 2 other claims so if it's ok I'll start a thread as I would like some advice please

Well done on your success.:beer:

Yes feel free.

I would like to state though, if its the same company you could write back (even if its the final decision) and tell them you don't believe your other complaints were investigated properly and the FSA are punishing banks for this reason and for rejecting geniune complaints.

Especially if you had the same reasons for all.;)

knightsofmeltonia · 9 July 2010 at 1:59PM

Thanks Di, have just posted a thread - HSBC response. You have just answered my question perfectly, cheers! :T

di3004 · 9 July 2010 at 2:03PM

knightsofmeltonia wrote: »

Thanks Di, have just posted a thread - HSBC response. You have just answered my question perfectly, cheers! :T

Your very welcome.:beer:

freddie_2 · 9 July 2010 at 3:11PM

Got my letter today from Ombudsman regarding complaint with natwest and they say NO. In his opinion there is no evidence that we would have repaid the loan early as we took it out for our wedding and the other reason is that there is not enough evidence to suggest we had to take out PPI to get the loan.

This is not true as Natwest did tell us we had to take it out or we would not get the loan.
Also in his letter it says we took the loan out face to face in branch. This we did not do as we live in NI and bank with natwest (no branches here) so impossible for us to have been in the branch.

Is there anything I can do now? Refuse to let it drop as I am 100% sure we were told we had to take ot PPI to get the loan.
Thanks, any help is welcome.

amersall · 9 July 2010 at 3:12PM

knightsofmeltonia wrote: »

Thanks Di, have just posted a thread - HSBC response. You have just answered my question perfectly, cheers! :T

Hi there and well done on your win :beer: you are right 100% :cool:di is our resident mastermind :A she is quicker than jack flash:cool::cool:
what that gal doesnt know isnt worth knowing :j:j:j

PPI Reclaiming successes and failures

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