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  • FIRST POST
    • Former MSE Wendy
    • By Former MSE Wendy 9th Aug 07, 5:10 PM
    • 868Posts
    • 1,782Thanks
    Former MSE Wendy
    PPI Reclaiming successes and failures
    • #1
    • 9th Aug 07, 5:10 PM
    PPI Reclaiming successes and failures 9th Aug 07 at 5:10 PM
    Please report your PPI Reclaiming sucesses/failures here

    This thread lists 1000s of stories, click the 'last' link above for the most recent

    Not done it yet? Read the full Loan PPI Reclaiming and Credit Card PPI Reclaiming

    How to report your success/failure?

    1. Click reply to enter you story.

    2. Report your story in the following format:
    • What were you reclaiming: (eg. loan, credit card, store card)
    • Who was the provider: (e.g. Capital One, NatWest)
    • How much did you get back: ????
    • Did you get it back after a letter or did you go to the Financial Ombudsman: ????
    • And then write your brief reclaim tale
    REMEMEBER BY DOING THIS YOU ENCOURAGE OTHERS WHO MAY BE TOO SCARED TO RECLAIM HAVING BEEN MISSOLD.


    What if I just want to discuss PPI reclaiming/ask a question?

    Please do NOT post questions in this thread. Questions may be asked in the PPI reclaiming discussion thread where, although not guaranteed, it is more likely somebody may be able to help you.

    Happy to tell your story in a newspaper/on TV?

    There are over 20m PPI policies in the UK and its a £5bn a year industry; yet I believe a very substantial proportion of those were missold and I want to spread the word. We need to make PPI reclaiming as big as bank charges reclaiming and Mortgage Exit Fee reclaiming.

    I need your help

    To spread the word, I need case studies, people who've been placed on hold or succeeded and are willing to tell their story to encourage others to take on the banks and reclaim.

    If you're willing to do this, please e-mail casestudy@moneysavingexpert.com (sorry but we can't answer questions at this email address) with as much of the following info as you can:

    * how much was your loan/card balance
    * how much did you get back
    * who was your lender
    * a daytime phone number - we often need to reach people at very short notice
    * whether you are happy to appear in the papers,tv or both
    * where you live
    * did you use our template letters
    * did you go to the Ombusdman, court or use a claims handler

    We really appreciate anyone that can help us with this but of course also please report your story below.

    Thanks
    Martin
    Last edited by Former MSE Wendy; 06-06-2012 at 6:58 PM.
Page 1844
    • markh1965
    • By markh1965 29th May 17, 2:58 PM
    • 29 Posts
    • 0 Thanks
    markh1965
    mortage ppi
    What is the success rate for mppi?
    • dunstonh
    • By dunstonh 29th May 17, 3:20 PM
    • 89,599 Posts
    • 56,079 Thanks
    dunstonh
    What is the success rate for mppi?
    Originally posted by markh1965
    Varies with the distribution channel. It has the lowest success rate on complaints of any type of PPI. MPPi is still retailed and provided today. So, from a product point of view, there are fewer issues.

    Single premium MPPI is considered bad in over 95% of cases. (should be 100% really but I don't know how some of those got out of it). Monthly premium by standalone direct debit is how PPI should be set up. So, if yours is that way, then there isn't a set up failure.

    Mortgage brokers/IFAs etc have a tiny complaint uphold rate. Because most of those are small local firms, the stats are hard to come by. However, the FSCS has said it only uphold around 5% of complaints against mortgage brokers (most of those are single premium PPI). The two largest mortgage brokers (which handle half of the mortgages arranged in the UK) both have under 30 cases at the FOS which means no ratio is given. The small number gives you an idea of how little an issue this is with brokers/advisers. The FOS has said that it generally finds adviser cases to have a much better audit trail than non-advised.

    Banks on the other hand are very hard to say given the way some auto-payout. Halifax is pushover. Whereas most others will argue the cases more than they would on loan and credit card.

    Loan and credit card PPI can often succeed when there are sickness benefits from the employer. Yet the FOS rejects complaints where there is 12 months sick pay from an employer when it comes to MPPI given its long-term nature and lifestyle changing consequences if the mortgage goes unpaid.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • drunk1
    • By drunk1 6th Jun 17, 10:27 PM
    • 49 Posts
    • 17 Thanks
    drunk1
    What were you reclaiming: Loan/Credit Card
    Who was the provider: RBS/Barclays
    How much did you get back: £1400
    Did you get it back after a letter or did you go to the Financial Ombudsman: Used Resolver

    Hi folks,

    Just had to come on here and thank this website/forum.

    Literally took about 1 hour of my time sending off complaints using resolver to around 11/12 different financial institutions about 2 weeks ago.

    Most of my claims stem back to 2002/2004 so have literally no documents as evidence but thought why not as have seen/heard about PPI for years and know it's closing soon to claim.

    Anyway, already got £550 from RBS for a loan back in 2002 and then just yesterday £900 from Barclaycard from 2003/04.

    Actually can't believe how fast it's been and also how easy. Also amazed these companies still hold details 15 years ago and not requesting any proof.

    But as I say, let's hope for more to come!

    Thank you!
    • Creashor
    • By Creashor 6th Jun 17, 11:27 PM
    • 5 Posts
    • 2 Thanks
    Creashor
    Hi

    What were you reclaiming: Loans
    Who was the provider: Lloyds and Tesco
    How much did you get back: £29,000
    Did you get it back after a letter or did you go to the Financial Ombudsman: Used Resolver

    So far:

    1 refund for loan PPI from Lloyds (6 loans), stretching back to the mid-90s - £23k

    1 refund for loan PPI from Tesco Finance for 1 loan - £6k

    I had zero details of my accounts. Both wrote to me with a breakdown of the transaction for which I had PPI, upheld my complaint and gave very transparent calculations of the settlements.

    It was a breeze and I thank the institutions for making it easy. I urge you to do the same.
    Last edited by Creashor; 07-06-2017 at 10:27 AM.
    • aspley
    • By aspley 7th Jun 17, 11:13 AM
    • 32 Posts
    • 12 Thanks
    aspley
    Egg mortgage PPI aka Canada Square Operations. RESULT: Success
    Mortgage PPI from Egg (now Citibank or Canada Square Operations)
    I was claiming for at least 2 years of PPI totalling a minimum £2,000 I had statements for.

    I sent the template letter off and was sent a form to fill out by Canada Square Operations.

    However, before I got around to doing this, I received a letter from Canada Square to say they had reviewed my case and were sending a cheque for in excess of £4,000 after tax is deducted.

    I haven't had to go to the ombudsman, Canada Square have made the process rather painless and appear to have been very professional and honest.


    As a result, I will now look at exactly who they are, what services they provide etc and look to use them in the future. This is great customer service and they deserve to be commended.

    I am still waiting for the cheque to arrive but I have no reason to think they will fail to deliver on their initial letter.
    • Moneyineptitude
    • By Moneyineptitude 7th Jun 17, 11:17 AM
    • 18,749 Posts
    • 9,993 Thanks
    Moneyineptitude
    As a result, I will now look at exactly who they are, what services they provide etc and look to use them in the future.
    Originally posted by aspley
    After being mis-sold PPI, you are looking to use this provider in the future simply because they refunded you?

    "Great customer service"???
    • Adrian Kennett
    • By Adrian Kennett 7th Jun 17, 1:21 PM
    • 1 Posts
    • 0 Thanks
    Adrian Kennett
    PPI Reclaim Success!!
    I reclaimed nearly £7000 from loans with the Halifax dating back to 2001 that I had no idea had PPI attached then proceeded to put in a claim for my Halifax Credit card and again reclaimed just over £4000.
    All down to MSE and the simple and easy to use FREE Resolver tool.
    Thankyou!!!
    • DavinaY
    • By DavinaY 11th Jun 17, 9:29 AM
    • 1 Posts
    • 0 Thanks
    DavinaY
    I had PPI automatically put onto my Barclaycard credit card about 20 years ago. I eventually rang them to question what it was and cancel it but I have no idea how much I'd paid as I don't have any paperwork going back so far. I tried claiming through Barclaycard but they could not find any information about me despite giving all my previous addresses. I tried a PPI reclaim company (with no intention of perusing the claim through them, just to see if they could get more information!). No luck. As a last resort I tried your procedure and escalated it to the ombudsman. They were very helpful and have kept me informed and despite Barclaycard not being able to find my previous statements they did recognise that I had had PPI with them. Yesterday I received a letter from Barclaycard saying that they have upheld the complaint and will give me an average of other peoples claims that have held a credit card with them for the same amount of time. I will receive over £1200!!! An amazing result considering I'd virtually given up hope because of a lack of paperwork. Thank you so much, this money will make a real difference to our summer!
    • markh1965
    • By markh1965 11th Jun 17, 1:50 PM
    • 29 Posts
    • 0 Thanks
    markh1965
    Just going over my complaint rejection letter from nationwide for missold ppi.under their review it states cover was requested and on another part of letter it states the policy was sold on a non advised basis,but surly they had to explain what it was and let me know what the cover extended to.as i had sick cover i would think that i didnt need the ppi.and advice would be welcome
    • dunstonh
    • By dunstonh 11th Jun 17, 2:01 PM
    • 89,599 Posts
    • 56,079 Thanks
    dunstonh
    Just going over my complaint rejection letter from nationwide for missold ppi.under their review it states cover was requested and on another part of letter it states the policy was sold on a non advised basis,but surly they had to explain what it was and let me know what the cover extended to.as i had sick cover i would think that i didnt need the ppi.and advice would be welcome
    Originally posted by markh1965
    Advised sales have a higher level of consumer protection. Non-advised sales have a lower level of protection. Advised sales have to check suitability and eligibility (i.e. do you need it and are you eligible). Non-advised sales have to check eligibility (not if you need it or not).
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • markh1965
    • By markh1965 11th Jun 17, 2:22 PM
    • 29 Posts
    • 0 Thanks
    markh1965
    My line of thought is if they had not mentioned it i would not have took it out,or is that just wishful thinking.
    • Moneyineptitude
    • By Moneyineptitude 11th Jun 17, 2:33 PM
    • 18,749 Posts
    • 9,993 Thanks
    Moneyineptitude
    My line of thought is if they had not mentioned it i would not have took it out,or is that just wishful thinking.
    Originally posted by markh1965
    Certainly not thinking that will get the Bank to overturn the rejection of your complaint.
    • markh1965
    • By markh1965 11th Jun 17, 2:49 PM
    • 29 Posts
    • 0 Thanks
    markh1965
    So bottom line is accept decision and move on
    • dunstonh
    • By dunstonh 11th Jun 17, 3:25 PM
    • 89,599 Posts
    • 56,079 Thanks
    dunstonh
    My line of thought is if they had not mentioned it i would not have took it out,or is that just wishful thinking.
    Originally posted by markh1965
    What evidence do you have to support that allegation? They havent found anything to support it. So, do you have anything?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • markh1965
    • By markh1965 11th Jun 17, 3:37 PM
    • 29 Posts
    • 0 Thanks
    markh1965
    In 1997 when i took mortage out im pretty sure i would not have known what ppi was unless it was explained to myself at time of mortage app.and made to sound a good extra.
    • dunstonh
    • By dunstonh 11th Jun 17, 4:07 PM
    • 89,599 Posts
    • 56,079 Thanks
    dunstonh
    In 1997 when i took mortage out im pretty sure i would not have known what ppi was unless it was explained to myself at time of mortage app.and made to sound a good extra.
    Originally posted by markh1965
    What evidence do you have to support that allegation?

    Plus, what makes you think it isnt a good extra?

    Most MPPI complaints fail. It is one of two types of PPI still retailed today. It is very easy to make it sound like a good extra. However, verbal conversations are difficult to prove. There has to be evidence or enough to suggest that you were missold.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • markh1965
    • By markh1965 11th Jun 17, 7:53 PM
    • 29 Posts
    • 0 Thanks
    markh1965
    Obviously i have no evidence of what was said at time of meeting.and with lapse of time any paperwork has also been destroyed.as there saying the ppi was in place to cover any work package i had at that stage.im just looking to see if theres any avenue that i havnt went down.
    • Moneyineptitude
    • By Moneyineptitude 11th Jun 17, 7:58 PM
    • 18,749 Posts
    • 9,993 Thanks
    Moneyineptitude
    Obviously i have no evidence
    Originally posted by markh1965
    You said it yourself at post #36874

    So bottom line is accept decision and move on
    Originally posted by markh1965
    • markh1965
    • By markh1965 11th Jun 17, 8:03 PM
    • 29 Posts
    • 0 Thanks
    markh1965
    So put this down to experience.hope this will help people with queries on mppi.also thru these forums i did the claim myself and no need for middlemen.again thanks for all replies.
    • Moneyineptitude
    • By Moneyineptitude 11th Jun 17, 8:05 PM
    • 18,749 Posts
    • 9,993 Thanks
    Moneyineptitude
    So put this down to experience.hope this will help people with queries on mppi.also thru these forums i did the claim myself and no need for middlemen.again thanks for all replies.
    Originally posted by markh1965
    You can still refer your complaint to the Ombudsman, but just be aware that you face an uphill battle; given your stated reasons for complaint..
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