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DIY PPI Claim - Worth It?
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# 1
Abi292
Old 15-01-2010, 3:31 PM
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Join Date: Jan 2010
Posts: 4
Default DIY PPI Claim - Worth It?

I took out a loan & credit card with Halifax a few years ago & I only noticed I was paying PPI when I received my first loan statement & after about a years worth of credit card statements. I had no idea I had any chance of reclaiming them & just thought it was my fault for not reading the small print.

I am obviously very interested in claiming this back, however, the companies offering to do this on my behalf are either asking for money upfront (therefore have no incentive to complete the claim) or are wanting to take 25% + vat from the money owed to me which I have already paid partly for

Before choosing to instruct a third party to do this for me I wanted to find out if many people had had any luck doing this claim themselves? The tips on here seem excellent & simple enough to follow

Any feedback would be much appreciated
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# 2
di3004
Old 15-01-2010, 3:48 PM
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Join Date: Jun 2007
Location: South Wales (Gwent)
Posts: 42,529
Default

Quote:
Originally Posted by Abi292 View Post
I took out a loan & credit card with Halifax a few years ago & I only noticed I was paying PPI when I received my first loan statement & after about a years worth of credit card statements. I had no idea I had any chance of reclaiming them & just thought it was my fault for not reading the small print.

I am obviously very interested in claiming this back, however, the companies offering to do this on my behalf are either asking for money upfront (therefore have no incentive to complete the claim) or are wanting to take 25% + vat from the money owed to me which I have already paid partly for

Before choosing to instruct a third party to do this for me I wanted to find out if many people had had any luck doing this claim themselves? The tips on here seem excellent & simple enough to follow

Any feedback would be much appreciated

Hello and welcome.

I would go for it, give it a go yourself, and be wary of these claims companies as well.
With help from this site its all free apart from posting your letters where its recommended to post by recorded delivery for your proof of posting.

Here is some info, the guidelines of reclaiming, with templates, checklist of mis selling reasons and so on:
http://www.moneysavingexpert.com/rec...loan-insurance
They have 8 weeks in full to respond, keep on at them until they resolve in your favour or until they issue you with the final response.
You write to the ones that actually arranged and sold you the finance.

Ask for help anytime as well, and please let us know how you get on.

Good luck.

Di
The one and only "Dizzy Di"
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# 3
Abi292
Old 15-01-2010, 3:55 PM
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Join Date: Jan 2010
Posts: 4
Default

Thank you SO much Di for your quick response & yet again more helpful advice

I shall write the first letter now using the template and update you as and when

p.s I don't see why we should have to give our money to other companies when we are the ones who are out of pocket in the first place!
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# 4
di3004
Old 15-01-2010, 4:13 PM
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Location: South Wales (Gwent)
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Default

Quote:
Originally Posted by Abi292 View Post
Thank you SO much Di for your quick response & yet again more helpful advice

I shall write the first letter now using the template and update you as and when

p.s I don't see why we should have to give our money to other companies when we are the ones who are out of pocket in the first place!
Your most welcome.

Yes that's totally right, do this yourself with help from this site when required you will get to keep all YOUR money.
Good for you and fingers crossed, look forward to hearing the outcome.
The one and only "Dizzy Di"
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# 5
sunnygirls
Old 15-01-2010, 6:14 PM
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Join Date: Aug 2009
Posts: 274
Default

Quote:
Originally Posted by Abi292 View Post
I took out a loan & credit card with Halifax a few years ago & I only noticed I was paying PPI when I received my first loan statement & after about a years worth of credit card statements. I had no idea I had any chance of reclaiming them & just thought it was my fault for not reading the small print.

I am obviously very interested in claiming this back, however, the companies offering to do this on my behalf are either asking for money upfront (therefore have no incentive to complete the claim) or are wanting to take 25% + vat from the money owed to me which I have already paid partly for

Before choosing to instruct a third party to do this for me I wanted to find out if many people had had any luck doing this claim themselves? The tips on here seem excellent & simple enough to follow

Any feedback would be much appreciated


Hi i would do it yourself i claimed back from the Halifax on a loan from 2004 ,they were very quick in dealing with it and it only cost me the price of a stamp Good Luck Sunny
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# 6
Abi292
Old 19-03-2010, 4:55 PM
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Join Date: Jan 2010
Posts: 4
Default

Here is an update....

After initially sending the first letter template in January, for my credit card and loan with Halifax, I received a letter back from them at the 8 week mark to apologise for not being able to provide a response at this point (and the reason they couldn't was due to the fact that they were inundated with PPI claims). They said they would be in contact soon but gave no indication of a time limit. Unfortunately this was only relating to my credit card. The loan had not been mentioned at all

I meant to phone them last week to get an update and much to my amazement I received a letter this morning saying that my loanand credit card ppi would be paid back to me in full (they haven't mentioned interest yet) within one month and that they will be calling in the next few days to confirm the amounts

I requested copies of my credit card statements back in January to calculate the total I have paid in ppi (they told me on the phone I needed to send a cheque for 5 for this service, however, they sent it back to me with the statements!) as otherwise I wouldn't know whether the figure they offered me was correct or not. This totalled 261 at the end of December, so now it will be 285. I know that the loan ppi was 1500 for the 5 year duration so as this has been going on for 3.5 years I believe this should be 1050 and this will also result in either a reduction of my monthly payments or a reduced loan term

So the total I am expecting is 1,335 without any interest at all and all of this for the price of 78p!! I cannot believe some companies are charging 200 for this service or worse still a percentage of the amount claimed.

I am SO glad that I did this myself and didn't take the easy option and pay a company to do it on my behalf. The letter templates are excellent MSE

I was amazed at how easy it was to do and really pleased that Halifax did not put up a fight as some people have reported

Money Saving Expert you have just managed to push my partner and I 1330 closer to our wedding

THANK YOU
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# 7
di3004
Old 19-03-2010, 5:21 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Jun 2007
Location: South Wales (Gwent)
Posts: 42,529
Default

Quote:
Originally Posted by Abi292 View Post
Here is an update....

After initially sending the first letter template in January, for my credit card and loan with Halifax, I received a letter back from them at the 8 week mark to apologise for not being able to provide a response at this point (and the reason they couldn't was due to the fact that they were inundated with PPI claims). They said they would be in contact soon but gave no indication of a time limit. Unfortunately this was only relating to my credit card. The loan had not been mentioned at all

I meant to phone them last week to get an update and much to my amazement I received a letter this morning saying that my loanand credit card ppi would be paid back to me in full (they haven't mentioned interest yet) within one month and that they will be calling in the next few days to confirm the amounts

I requested copies of my credit card statements back in January to calculate the total I have paid in ppi (they told me on the phone I needed to send a cheque for 5 for this service, however, they sent it back to me with the statements!) as otherwise I wouldn't know whether the figure they offered me was correct or not. This totalled 261 at the end of December, so now it will be 285. I know that the loan ppi was 1500 for the 5 year duration so as this has been going on for 3.5 years I believe this should be 1050 and this will also result in either a reduction of my monthly payments or a reduced loan term

So the total I am expecting is 1,335 without any interest at all and all of this for the price of 78p!! I cannot believe some companies are charging 200 for this service or worse still a percentage of the amount claimed.

I am SO glad that I did this myself and didn't take the easy option and pay a company to do it on my behalf. The letter templates are excellent MSE

I was amazed at how easy it was to do and really pleased that Halifax did not put up a fight as some people have reported

Money Saving Expert you have just managed to push my partner and I 1330 closer to our wedding

THANK YOU

ABI that is wonderful well done and Congratulations
All the best for your wedding.
The one and only "Dizzy Di"
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# 8
gaylee
Old 19-03-2010, 8:38 PM
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Join Date: Mar 2010
Posts: 22
Default

Hi there ,thats great news i also diy my ppi with the halifax got a reply today after 6weeks they will pay me back in full my ppi 1390.00 so well done to you
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