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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
    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 1849
    • DKG62
    • By DKG62 5th Oct 17, 8:49 PM
    • 6 Posts
    • 0 Thanks
    DKG62
    Most MPPi complaints are turned down.



    That is to be expected.



    No. The FCA report stated that they expected most regular premium PPI to not captured by plevin. Indeed, there was a consideration given to eliminate it from the plevin issue. However, they chose not to and said that firms will just have to reject it if they are approached on a case by case basis.



    The FOS will be no help to you whatsoever. A complete waste of time. This is not a decision that is debatable. The rule on plevin is not about missale or not. It is about the excessive commission and that does not apply to MPPI.
    Originally posted by dunstonh
    Nationwide in their rejection letter have not stated what their level of commission is!
    • zx81
    • By zx81 5th Oct 17, 8:50 PM
    • 13,677 Posts
    • 14,139 Thanks
    zx81
    Well, we know it wasn't over 50%!
    • DKG62
    • By DKG62 5th Oct 17, 9:48 PM
    • 6 Posts
    • 0 Thanks
    DKG62
    Well, we know it wasn't over 50%!
    Originally posted by zx81
    When I cancelled it they wanted over £40 a month. I looked elsewhere and got it for half as much and it was the same company that Nationwide were acting as an agent for! To me that means Nationwide were getting 100% commission!
    • Moneyineptitude
    • By Moneyineptitude 5th Oct 17, 10:20 PM
    • 19,542 Posts
    • 9,638 Thanks
    Moneyineptitude
    When I cancelled it they wanted over £40 a month. I looked elsewhere and got it for half as much and it was the same company that Nationwide were acting as an agent for! To me that means Nationwide were getting 100% commission!
    Originally posted by DKG62
    Your calculations are utterly flawed I'm afraid.
    The fact that Nationwide were retailing the insurance for twice as much as your new provider does not indicate that the level of commission was over 50%!

    Your complaint is going nowhere.

    Your complaint has been rejected not because of an opinion about mis-selling but because of the fact that the commission was below the 50% tipping point. The Ombudsman can't change this.

    Nationwide have not quoted what commission they charged!
    Originally posted by DKG62
    Nationwide in their rejection letter have not stated what their level of commission is!
    Originally posted by DKG62
    As long as the commission charged was less than 50%, it really doesn't matter. Certainly, they are not now required to provide you with the actual percentage figure as part of your rejection.
    • DKG62
    • By DKG62 7th Oct 17, 12:39 PM
    • 6 Posts
    • 0 Thanks
    DKG62
    Your calculations are utterly flawed I'm afraid.
    The fact that Nationwide were retailing the insurance for twice as much as your new provider does not indicate that the level of commission was over 50%!

    Your complaint is going nowhere.

    Your complaint has been rejected not because of an opinion about mis-selling but because of the fact that the commission was below the 50% tipping point. The Ombudsman can't change this.




    As long as the commission charged was less than 50%, it really doesn't matter. Certainly, they are not now required to provide you with the actual percentage figure as part of your rejection.
    Originally posted by Moneyineptitude
    Right I was never told that, they ought to be save wasting my time filling all the paper work to the ombudsman !
    • DKG62
    • By DKG62 7th Oct 17, 12:51 PM
    • 6 Posts
    • 0 Thanks
    DKG62
    Your calculations are utterly flawed I'm afraid.
    The fact that Nationwide were retailing the insurance for twice as much as your new provider does not indicate that the level of commission was over 50%!

    Your complaint is going nowhere.

    Your complaint has been rejected not because of an opinion about mis-selling but because of the fact that the commission was below the 50% tipping point. The Ombudsman can't change this.




    As long as the commission charged was less than 50%, it really doesn't matter. Certainly, they are not now required to provide you with the actual percentage figure as part of your rejection.
    Originally posted by Moneyineptitude
    It wasn’t a new company, it was the same company I just went direct to them instead of going via Nationwide and it was half the price! Nationwide never explained I could do this when I originally took out the PPI if that ain’t mis selling or a nice bit of commission then I don’t know what is other than a bloody big con!
    • FBK78
    • By FBK78 7th Oct 17, 1:30 PM
    • 2 Posts
    • 2 Thanks
    FBK78
    I reclaimed nearly 4K from Lloyds for credit card and loan ppi dating back to 2000. Went directly through bank and took a total of 7 weeks
    • Moneyineptitude
    • By Moneyineptitude 7th Oct 17, 10:00 PM
    • 19,542 Posts
    • 9,638 Thanks
    Moneyineptitude
    Nationwide never explained I could do this when I originally took out the PPI
    Originally posted by DKG62
    Nationwide were under no such obligation to tell you that cheaper alternatives were available from other providers. Do you also expect that shoppers in Tesco should be told that it is cheaper in Asda?

    Time to forget about this. You were not mis-sold, were not charged commission of over 50% and you won't ever be getting a refund.

    Sorry.

    If MPPI is not affected by Plevin why isn’t Martin Lewis making that clear
    Originally posted by DKG62
    Martin Lewis sold this site some years ago. If you want an apology from him, try asking on his Twitter page.
    • dunstonh
    • By dunstonh 7th Oct 17, 11:14 PM
    • 89,852 Posts
    • 55,455 Thanks
    dunstonh
    If MPPI is not affected by Plevin why isn’t Martin Lewis making that clear on his videos,
    He has said before that he cannot cover all the quirks or nuances in the short segments that he does.

    There are other quirks that involve dates too.

    Most MPPi complaints fail. He doesnt say that either. It just gets captured under all the PPI noise.

    he is saying if you got rejected last time go again because average PPI commission was 67%!
    Average means some above, some below. Loan PPI is way above 67% in many cases. Plus, loan PPI dominates. So, it sways the average.
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