PPI Reclaiming successes and failures
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Hello
I have had a successful ppi claim with Debenhams via Santander for a store card from 1995 which was closed in 2000. I have no records but made the claim after harassment from 3rd party ppi companies. Santander upheld my claim and paid me £238 full ppi refund and £135 associated interest. I wrote back and asked why I was not eligible for 8% interest, as I had been with other companies and they replied that 'from Aug 2005 they have full transactional history and so they have used this to calculate the difference. Prior to 2005 they do not have full transactional history, but do have full ppi payments and interest charged to my account. Therefor there pre 2005 calculation had used these amounts and averaged the total. Regarding rolling line of credit account such as mine, 8% out of pocket interest is only applied if the card would have had a credit balance had the ppi not been included. My card would not have been in credit in this case (how do they know this is they have no history ?). They then say this is in line with the FOS guidelines. I also queried over limit fees charged as per there response above, and they have advised 'no over limit fees have been applied?'.
I really do not understand this response, maybe I should, does this sound fair and reasonable? Surely a successful ppi claim that is upheld should have 8% out of pocket expenses paid regardless, as the bank have already upheld they mis sold ppi?
I would appreciate your advice thank you
Read the FOS guidelines on repaying PPI on cards, 8% interest is only applied where the card would have been in credit were it not for the PPI
If you have no records how were you intending on proving you paid over limit fees? PPI alone would almost never cause you to go over the limit, the premiums were so low 99.99% of the time it was over spending that causes it - PPI was charged at around 70-80p per £100 of debt so if you were over by £100 around £99 of that would be spending for example0 -
Thank you both for responding. Nasqueron, I am not aware of the account going over the limit, but as they mentioned this first I thought I would ask. I am overall happy with the result as it is still a refundinwouod not have pursued if it was not for this site.0
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Thank you both for responding. Nasqueron, I am not aware of the account going over the limit, but as they mentioned this first I thought I would ask. I am overall happy with the result as it is still a refundinwouod not have pursued if it was not for this site.
Unfortunately the old charges were blocked by the 2009 court case (while it did technically apply to bank charges, the precedent set will be carried over to credit cards, just as the judgement itself relied on precedence).
The full details of how the FOS recommends firms deal with it is linked below, some companies do choose to give 8% anyway
http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/redress.html#redresscc0 -
Does anyone know where I can get hold of the address for BOI / Bristol and West PPI queries please? I recently found the paperwork to a mortgage I had with them almost 25 years ago, taken out through a broker, with PPI and I have been struggling to find where I can write to see whether I can make a claim as I believe it was mis-sold as my broker told me I wouldn't get approved for the mortgage if I didn't take the insurance - I was young and naïve and wanted to get on the ladder. I didn't even know it was PPI until I found the paperwork and saw it written as such. I cant sem to find any details online regarding either of these institutions as BOI took over he mortgage some years later... can anyone help? Thank you.0
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sorry this may have been posted in the wrong place - forgive me, first time user...doh! but any advice / help would be appreciated...:-)0
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You don't need an address for the Building Society, you need to complain to the broker who sold you the PPI.Does anyone know where I can get hold of the address for BOI / Bristol and West PPI queries please? I recently found the paperwork to a mortgage I had with them almost 25 years ago, taken out through a broker
Unfortunately, this pre-dates regulation of insurance selling in 2005 and the broker can dismiss any complaint on that basis alone. You will have no access to the Ombudsman.
It's not a valid complaint simply because you haven't looked at your mortgage documentation for 25 years!I didn't even know it was PPI until I found the paperwork and saw it written as such
Obviously, if it was "written as such" then you did know it was PPI and have since forgotten.
Your overall complaint sounds like it was copy pasted from a template. You really should not use the "young and naive" chestnut.0 -
Just got £1250 refund from Barclaycard included interest, the account was repaid back in 1999. I wrote to all companies and had rejection letters back from all of them apart from Barclays.
Top site as ever!0 -
I have been meaning to enquire about PPI for several years but was put off by the fact we cancelled the policy several years ago. The latest email from MSE motivated me to have a go through Resolver. Today 6 days after we put the claim in for "Overdraft Payment Protection" (labelled a service charge) with Barclays Bank through the Resolver tool and using the information on the MSE website we had £689.63 credited to our joint account.
BIg thanks to MSE and Resolver0 -
• What were you reclaiming: Credit card
• Who was the provider: NatWest
• How much did you get back: £400.44
• Did you get it back after a letter or did you go to the Financial Ombudsman: phonecall to Natwest PPI complaints
I phoned Natwest on the 6/3/17 to cancel my PPI as I had just checked my statements and found I had it. I explained that I didn’t remember getting PPI (and didn’t want it) and was passed to their PPI complaints line. I answered a set of questions on the phone (they were very similar to the reclaim letter template).
I got a text on 7/3/17 to acknowledge phonecall and another text on 10/3/17 to say a letter detailing outcome had been sent.
I received the letter on 17/3/17 with offer of £400.44.
Cheque arrived 28/3/17 - £401.86
I have had the card since 2002 and hardly use it so was not expecting this much. The amount is made of £252.01 refund and £148.43 interest.
Very happy!0 -
Lloyds TSB Credit Card - £863 reclaimed
I was missold ppi 3 times by two banks and both rejected my complaints. I referred my complaints to the financial ombudsman and over the last two years I've had 2 reject letters from adjudicators and another from an investigator. So that was that, or so I thought.
At Christmas someone told me that just because an adjudicator or investigator rejects your complaint you can still appeal to have it looked at again EVEN IF YOU HAVE NO MORE INFORMATION OR EVIDENCE.
So for my most recent one I asked for an ombudsman to look at it - I had nothing more to add but I just wanted it looking at again. And last week I won and my bank will pay me back in a few weeks.
MORAL OF THE STORY - even if an adjudicator or investigator rejects your complaint and you have no more evidence you should always ask for an ombudsman to look at it again. Apparently 10% of complaints are reversed by the ombudsman even if there's no more evidence0
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