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    • 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

    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 (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.

    Last edited by Former MSE Wendy; 06-06-2012 at 6:58 PM.
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    • Moneyineptitude
    • By Moneyineptitude 18th May 17, 2:10 PM
    • 18,539 Posts
    • 8,754 Thanks
    What happens if they do go over the 28 days without payment received?
    Originally posted by o1nk
    I'd cross that bridge when (if) you come to it. Ombudsman is obviously available to you if there is any significant delay, but it's unlikely you'll be kept waiting too long...
    Last edited by Moneyineptitude; 19-05-2017 at 11:10 AM.
    • Hannah_17
    • By Hannah_17 24th May 17, 12:25 PM
    • 8 Posts
    • 2 Thanks
    Easy Success
    What were you reclaiming: Loan
    Who was the provider: Barclays
    How much did you get back: 2,898.48
    Did you get it back after a letter or did you go to the Financial Ombudsman: Used Resolver

    After the annoying phone calls and annoying TV adverts I decided to help my partner look into old loans, just in case. He had no memory of agreeing to PPI.
    First we contacted the bank asking for all information they had on his previous loans, he'd had 3 in total 1997, 2001 and 2006. Once I had the paperwork it was obvious he had paid for insurance.
    I then read the money savings expert PPI page and filed a complaint using the Resolver online tool. No posting needed, just took a picture and added that to the claim as extra proof. Within 8 days of the complaint he received 2 refunds with no questions ask straight into his account. The 3rd loan he had to speak with someone over the phone and they just asked him what he remembered. In all honesty he remembered very little and told them so and said he was not someone who usually paid for insurance. And within a week a 3rd refund was deposited straight into his bank account.
    In total his insurances were 1,253.12 and he was refunded a total of 2,898.48.
    So glad we did it, no 3rd party company needed and we got to keep all the money. It only took a few hours of our time and a little organisation. The process took 15 days once complaint was in.
    • markh1965
    • By markh1965 29th May 17, 2:58 PM
    • 7 Posts
    • 0 Thanks
    mortage ppi
    What is the success rate for mppi?
    • dunstonh
    • By dunstonh 29th May 17, 3:20 PM
    • 87,751 Posts
    • 52,993 Thanks
    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 a Financial Adviser local to you.
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