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PPI Reclaiming successes and failures
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# 61
zedadda
Old 24-10-2007, 8:56 PM
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new to this
first letter sent on 15/10/07 to AA loans about PPI mis sold reply recieved 18/10/07 apparently they set up 2 PPI on the same loan and been paying both refund due of £592.50 and looking into other policy only cost first class stamp
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# 62
Savermidget
Old 24-10-2007, 11:39 PM
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Default LTSB Success!

Hi all, I'm more of a lurker than a poster but I have to share my success with you all and hopefully encourage others to go ahead and claim as well.

What were you reclaiming: £15,000 loan plus £3307.91 PPI
Who was the provider:
Lloyds TSB

How much did you get back:
£3307.91 + interest

Did you get it back after a letter or did you go to the Financial Ombudsman:
After sending 1st template letter

And then write your brief reclaim tale:
I sent the first template letter on 26/09/07 and adjusted to my own needs, I was only a temp worker at the time of taking out the loan and on a fixed 3 month contract.

Received a letter back within a week to say "We are looking into it". Received further letter today to say basically sorry for any mis-understanding and as a "gesture of goodwill" they are offering to cancel the PPI from start date of loan (Oct 04) and refund to the total of £3307.91 + interest to come off outstanding amount on my loan. If I keep my repayments the same amount every month then this means I've now saved about 16 months off of the loan term - fab!!

To anyone out there thinking about claiming but not sure, I say go for it. If you don't ask, you don't get!

I know some people have asked for this address before so...
Best address to write to for Lloyds TSB LOAN PPI - (different for cards)
Customer Care,
Lloyds TSB Insurance,
Tredegar Park,
Newport,
South Wales.
NP10 8SB

Thank you to Martin & all you MSE peeps out there. Martin for PM I reckon!
I don't post a lot but when I do, I try to be helpful


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# 63
Gem_84
Old 25-10-2007, 5:05 AM
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Location: North Wales
Posts: 20
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I took my loan out in 2004 from Lloyds TSB and was told that I had to have the PPI in order to have the loan.

My partners mother forwarded me the newsletter about reclaiming, and I did it using and editing the template letter. It can't have been a month later and following a couple of 'we are dealing with your complaint' I got another saying they were going to refund £1777.47 (plus interest) from my loan account.

Success from a bank that has given me nothing but grief!
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# 64
TigerTiger26
Old 25-10-2007, 5:26 PM
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TWO LETTERS, TWO STAMPS, TWO SUCCESSES!!!!!

Reclaiming: - PPI from a loan I had between 2002 and 2004
Provided By: - HSBC
Got Back: - £1,088.44

I have just got in from work to find a letter from HSBC. They basically state that although they cannot prove my claim "as a gesture of goodwill" they're returning my PPI of £1,088.44. All it took was one letter and I am nearly £1,100 better off.

If anyone is reading this and thinking "shall I, shalln't I", my advice would be to go for it. As you can see from the heading, it's cost me two stamps for two successes totalling a few quid short of £3K (see post 58 for my earlier success). All it took was the two original letters as downloaded from this very website (Martin, you're a genius).

This is the next big consumer revolution after Bank Charges so I'd urge you all to "jump on the bandwagon" before its too late. Good luck to you all

Last edited by TigerTiger26; 13-11-2007 at 5:31 PM.
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# 65
pmolloy
Old 26-10-2007, 10:24 AM
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Default Reclaim Failure

Natwest are refusing to pay back anything. Their reason is that they sent me all the details in the post following the loan application over the phone and if I didn't read it through properly then its not their fault.

The problem is they are absolutely right. It does not matter what was said over the phone or what was left out in the explanation of the policy. It all gets sent in writing anyway. If I choose not to read through the whole thing including all the small print there is nothing I, or the Financial Ombudsman, can do about it.

Unless you were told a complete lie by the bank at the time of application eg; "you have to take out this policy or we won't give you the loan", I suspect most people are going to get the same dissapointing response from their lenders.
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# 66
techspec
Old 26-10-2007, 11:27 AM
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Quote:
Originally Posted by pmolloy View Post
Natwest are refusing to pay back anything. Their reason is that they sent me all the details in the post following the loan application over the phone and if I didn't read it through properly then its not their fault.

The problem is they are absolutely right. It does not matter what was said over the phone or what was left out in the explanation of the policy. It all gets sent in writing anyway. If I choose not to read through the whole thing including all the small print there is nothing I, or the Financial Ombudsman, can do about it.

Unless you were told a complete lie by the bank at the time of application eg; "you have to take out this policy or we won't give you the loan", I suspect most people are going to get the same dissapointing response from their lenders.
Not completely true.

Most people i know who have been refunded, did not read the papers that were sent. But one has been refunded on the basis that they had a pre exisiting medical condition, and another because they did not work over 16 hours per week, and were self employed.

Its just the look of the draw in the first step, as some are paying out as a matter fo course, and some are not. But not reading the documents, is not a good enough defence by the companies concerned.
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# 67
greengrass
Old 29-10-2007, 10:16 PM
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Thank you Martin!!!

I sent my letter off to Hsbc about 2 weeks ago and received an offer of £1326 for the ppi that I paid against a loan for £5000 in 1999. Wonderful.

So glad the site is back up.
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# 68
sexki11en
Old 30-10-2007, 1:21 PM
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Quote:
Originally Posted by pmolloy View Post
Natwest are refusing to pay back anything. Their reason is that they sent me all the details in the post following the loan application over the phone and if I didn't read it through properly then its not their fault.

The problem is they are absolutely right. It does not matter what was said over the phone or what was left out in the explanation of the policy. It all gets sent in writing anyway. If I choose not to read through the whole thing including all the small print there is nothing I, or the Financial Ombudsman, can do about it.

Unless you were told a complete lie by the bank at the time of application eg; "you have to take out this policy or we won't give you the loan", I suspect most people are going to get the same dissapointing response from their lenders.
Lloyds are claiming the same for us but we are still going ahead with the second letter as my OH was not told clearly that the PPI was even added. He was just told to sign here, here and here. From what I can see of what Martin says, this is a miss sell situation? :confused:
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# 69
Aldeney
Old 31-10-2007, 7:52 AM
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I sent Lloyds TSB a letter I downloaded of the forum about 2 years ago asking for my PPI to be cancelled.

I never asked for a refund as I wasn't mis-sold the policy but wanted it cancelled as it was expensive & pretty useless as it turns out. I got the usual responses but I refused to take no for an answer. It took about 6 months but eventually they got tired of me and not only cancelled my PPI but gave me a £3500 refund too.
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# 70
pear
Old 31-10-2007, 9:47 AM
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Join Date: Oct 2007
Posts: 10
Smile PPi reclaim - I made it!

PPI on car loan
Northern Rock
money back plus interests immediately after first letter (total of £524!)

I got a loan for my car two and half years ago and during the applicatin my husband was told he was in need - due to his circumstances?!?!? - to purchase PPI.
He told them he did not feel he needed it but was told that in orrder to get the loan he would have had to also get the PPI. The provider was Northern Rock.
The loan was for 2 years so we were paying monthly about £20 only for PPI. Until the article on MoneySavingExpert came out about 3 weeks ago, I hadn't thought about it. We had finished to pay the loan in July so I was just pleased we didn't have to pay it anymore (although I was still upset by the fact that they had made me purchase the PPI, too).
We used the template provided on the website and within 2 weeks we got a reply saying that, after listening to the conversation my husband had with the loan adviser, they agreed that he hadn't followed their guidelines for selling the PPI so they were "happy" to refund us the whole amount (about £480) plus the 8% interest (suggested in the letter!).
I was really surprised I got a positive response in the first reply as in my experience I always have to "fight and argue and waste an aweful lot of time"
when doing those things but this one went smoothly!
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# 71
lawnchairlarry
Old 31-10-2007, 2:43 PM
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I've just got a letter back from NatWest after the first template letter offering me half of the PPI premiums back as a gesture of goodwill. That's £1232.20 instead of £2464.40 and no interest added either. The full amount really would help me, pretty much clearing all my credit card debt which will mean I'll only have to focus on my loans.

Any opinions on what I should do, take what they're offering or carry on?
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# 72
7665donna
Old 31-10-2007, 3:20 PM
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Talking I got £3898.40 refund on mis-sold PPI from LTSB!!!

I wrote to LTSB using the template letters on this site to complain about mis-sold PPI on my husband's loan which finished in April. They had implied that he would only get the loan if he took the PPI and was basically pressured into it.

After sending the first template letter I received a reply saying they did not accept that the PPI had been mis-sold and therfore would not give us a refund. Not to be deterred, I went on to send the second template letter. I then received a reply saying they would refund the policy plus interest as a gesture of goodwill! The total was £3898.40!!!

I couldn't believe how easy it was!!! 2 letters that I didn't even have to write myself!

Martin - Thank you soooooo much for this site! This is a HUGE amount of money to us and has really made a big difference!

To anyone out there wondering whether or not to bother - do it NOW! My husband didn't think we had a chance, especially as the loan finished in April and now we're almost £4000 richer!!!! Woo hoo!!!
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# 73
lauramary
Old 31-10-2007, 3:28 PM
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Talking Around £640 back. Woohoo!

Bank: HSBC
Amount back: £640
Effort taken: 1 letter!!

I will shortly be getting about £640 back from HSBC for the mis sold insurance on my loan.
I took the loan out nearly 4 years ago and was made to feel that I had to have it or else I might not get the loan.
I had never really thought about it until now.
All I did was send the template letter to HSBC and that was it. They got back to me to say that they would refund what I'd already paid. which just about pays the loan off so it finishes early for me. The lady who is dealing with my is lovely and really friendly, I thought they might be quite narked about it.
I would definately recommend going for it as there is never any harm in asking and it really did only take one letter.
Thank you very much Mr Martin Lewis.
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# 74
maggie m
Old 31-10-2007, 3:56 PM
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I took a loan out 7 years ago, and had only just shreded the old paperwork. I managed to get the relivent details from the bank and took a chance on recalaiming the ppi back. They have agreed to refund the money. I didn't think it would work as it had been so long so I'm glad I did it.
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# 75
jasonmckenzie
Old 01-11-2007, 8:37 AM
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Reclaim of PPI from Egg Banking. Full refund after first letter from this site. Paid back £995 plus £314 in interest. I was Self employed at the time of loan.
One down two to go for me. get your letters in.
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# 76
beamo2
Old 01-11-2007, 11:54 AM
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Talking Success Story

Hi Everyone
Just to update you on My wifes claim. Abbey National have sent my wife a letter with an offer of £670 + £55 compensation. Though it states that they are not accepting that they mis-sold as they have spoke with such and such a person, they are offing this money to resolve this dispute. The offer is on the table for 4 weeks and if my wife contests , there is no gaurantee hat she would get anything.
Needless to say my wife has taken the offer as it is HER money, she has had the PPI stopped from her loan and thanks to Martin she and I are very aware of what to do when our next escapage with banks etc begins *Come check out this website first to see what is what.
THANKS again and a note to everyone, follow the instructions, send he letter(s) and dont give up

Beamo2
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# 77
clarendave92
Old 02-11-2007, 3:04 PM
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We received £3410 back from Bright Finance.

We actually requested PPI, but told them at the time of taking out the loan we planned to pay it off in 1 year (the loan was over 10 years) and asked for an early redeption figure, including the PPI early redemption. We were told we would have to pay interest only to date and 1 monthly payment. When we paid the loan off 1 year later we discovered we had to pay them £3410!

I wrote off to them in March and they replied saying it had not been mis sold, but we did qualify for a part refund, which was £1300. We weren't happy so took it to the financial ombudsman and they got the rest of our money back!

It only took two letters, but we waited 7 months for the final outcome - it was well worth it!

Last edited by clarendave92; 04-12-2007 at 3:05 PM. Reason: wrote the wrong company name who we claimed from
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# 78
Sy1
Old 02-11-2007, 9:24 PM
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Smile PPI Reclaim SUCCESS from Alliance & Leicester

What were you reclaiming: PPI mis-sold on a loan (was told at time of application that PPI had to be taken in order to be accepted for loan)
Who was the provider: Alliance & Leicester
How much did you get back: Approximately £900
Did you get it back after a letter or did you go to the Financial Ombudsman: After 2 letters direct to A&L - no need to go to FOS
And then write your brief reclaim tale.......

I had a loan with A&L for £5k over 5 years, taken out 2 years ago. I applied by telephone and was told that I must take PPI to be accepted for the loan product. The only price the advisor would quote included PPI.

I repaid the loan roughly 2 years into the loan earlier this year (3 years early) and shortly after I read the PPI reclaiming article on MSE.

I sent off the MSE template letter and kept receiving letters from A&L saying they were looking into my complaint and it was taking longer than expected. I chased a response from them after 8 weeks since my original complaint and they responded with an offer of just over £500 which was what I had paid in installments to the PPI.

However, when I checked the breakdown of the early settlement figure already paid and deducted the rebate of PPI and what I had already paid in PPI instalments, from the original cost of the policy as per the original agreement there was a difference of approx £400.

I wrote a second letter explaining this and enclosing a breakdown of my calculations, requesting the higher amount to be refunded plus 8% interest.

Two weeks later I have just received a response from A&L accepting my offer and agreeing to repay me just under £900! I just have to sign and post a letter agreeing settlement of my complaint.

I would just say to anyone reclaiming PPI please be careful if you have settled your loan early as I have. In settling early you are likely to have been charged for early settlement and therefore will not have received a pro-rata rebate of the PPI. Whilst your bank/provider may offer to refund your PPI payments - this may not necessarily reflect what the PPI has cost you so please request a breakdown of your settlement figure and check the calculations as I have done to ensure you receive back the full cost of PPI!

Thanks to Martin and MSE and all of the users of these forums who have been posting advise on reclaiming PPI, and good luck to those of you who are still trying
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# 79
kazmeister
Old 03-11-2007, 9:31 AM
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Default Lloydstsb

Hi

My original post re PPI


4 years ago I took out a 20k loan with Lloyds or LloydsTSb (whichever they were at the time,) which they then ADDED ANOTHER LUMP FOR THE INSURANCE which I was told I HAD TO have as it was for Debt consolidation. I was asked if I had any existing medical conditions and TOLD THEM I have coeliac disease and was told IT WASNT A PROBLEM. Recently tried to make a claim as was off work for 3 months due to anaemia (a side effect of the original condition) and was told CANT CLAIM - PRE EXISTING CONDITION.

Have just had a letter back saying sorry you're not happy but we will look into it (and apparently it can take up to 8 weeks)! I have paid £4700 in premiums - £93 per month and what for !!!!!




I have this morning received saying that altho they deny mis-selling the PPI they will refund £4333.24 (which was the total amount of insurance which was added to the loan) PLUS interest . All I have to do is return their form and they will pay it into my current account. Wonder how much the interest will be !!! .

The whole process has only taken a month.

A BIGthank you to Martin and the site - I would never have known and still be struggling. This will mean we can pay off loan and put the £500 per month to much better use.

Last edited by kazmeister; 03-11-2007 at 9:55 AM.
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# 80
skintnow
Old 03-11-2007, 9:53 AM
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Well done and what a result
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