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PPI Reclaiming Discussion part 4

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  • cappo
    cappo Posts: 2,121 Forumite
    h0pusp0pus wrote: »
    i posted this on the successes and failures thread but thought id post it here as well to spur you all on :)

    some good news this morning from mbna regards my abbey credit card they have upheld in my favour and agree i was miss sold the ppi insurance policy and they are refunding my money :)

    break down as follows

    total amount of ppi charged since sale of card £292.82

    total amount of interest associated with ppi premiums £852.82

    8% amount £0.00 :(

    total = £1145.64 :):):)

    no 8% interest would it be worth taking this to the ombudsman or would it be such a small amount that it just wouldnt be worth it and if going to the ombudsman and they have agreed that it was miss sold would they award the 8%

    they are putting it towards my balance owed which is a good thing because it will send my monthly crippling payments down and i wont waste it on buying something lol

    a huge thank you to di and amersall and everyone else who has helped and offered help to me your all a fantastic bunch :)

    i originaly put my complaint in around the 18th of may 2011

    just gotta hope for a good result from the other 4 now :)

    and to everyone else it can be done so sit tight and get back whats yours!!!






    That's great news,well done:beer::T:j:T:T
  • beamerguy
    beamerguy Posts: 17,587 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    di3004 wrote: »
    Great news for Barclays complaint pre April 20.

    http://www.bbc.co.uk/news/business-13746227

    Expecting the success thread to be active over the coming weeks.
    Well done Barclays, hoping others banks will follow and do the same.:T

    Barclays to settle payment protection insurance claims.

    Barclays has said it will pay out compensation to everyone to whom it sold payment protection insurance and who made a complaint before 20 April.
    Customers will be reimbursed the total value of all premiums plus 8% interest.

    Well done Barclays Bank, you will now regain credibility

    If the RBS Llloyds, HBOS, Capital One, MNBA AND THE OTHERS who still use "fob off" tactics, don't follow the lead, they will all be labelled as Banks not to deal with.
    Barclays could now attract 1000's more new customers to the detrement of the others.

    Could we see in future banks fighting each other for business
  • cappo
    cappo Posts: 2,121 Forumite
    h0pusp0pus wrote: »
    i posted this on the successes and failures thread but thought id post it here as well to spur you all on :)

    some good news this morning from mbna regards my abbey credit card they have upheld in my favour and agree i was miss sold the ppi insurance policy and they are refunding my money :)

    break down as follows

    total amount of ppi charged since sale of card £292.82

    total amount of interest associated with ppi premiums £852.82

    8% amount £0.00 :(

    total = £1145.64 :):):)

    no 8% interest would it be worth taking this to the ombudsman or would it be such a small amount that it just wouldnt be worth it and if going to the ombudsman and they have agreed that it was miss sold would they award the 8%

    they are putting it towards my balance owed which is a good thing because it will send my monthly crippling payments down and i wont waste it on buying something lol

    a huge thank you to di and amersall and everyone else who has helped and offered help to me your all a fantastic bunch :)

    i originaly put my complaint in around the 18th of may 2011

    just gotta hope for a good result from the other 4 now :)

    and to everyone else it can be done so sit tight and get back whats yours!!!





    It'll be interesting now to see if the other banks follow barclays lead.
  • h0pusp0pus
    h0pusp0pus Posts: 167 Forumite
    just having a think about the 8% doubt its gonna add up to much so think ill just accept it as is a great result :)
  • beamerguy
    beamerguy Posts: 17,587 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    h0pusp0pus wrote: »
    just having a think about the 8% doubt its gonna add up to much so think ill just accept it as is a great result :)

    Hi, you are entitled to 8% interest so write to them and say "you have forgotten the 8% interest"

    Why let them keep it. Asking will not effect your claim
  • My bank has said no. A small mortgage was taken out in 1999 with 2 ins policies and then topped up in 2006, the bank making us take out 2 more. (4 in total, taken out through their own Ins co) They are saying that these are Term assurances and not PPIs. Dont know what to do next.
    They sent paperwork stating that we did not have to take them out through them, but it was our choice. Very Confused
    Please hlp
  • Hi All,

    I had submitted a claim on my wife's behalf to Capital One for PPI on her credit card balance over a number of years, which they rejected. Having used the templates from this site and followed the process suggested I referred it to the FOS only to have it rejected saying:

    " I accept Capital One may not have adequately explained the ongoing cost of the policy and potential monthly benefit that would have been paid in return for your premiums. However, even if Capital One had done so, I am not persuaded this would have effected your decision to take out the policy. I think it is more likely than not that you would still have purchased the policy if you understood exactly how much the policy would cost and the potential amount you would receive in benefit in the event of a claim."

    He also goes on to say the Capital One have no recording of the sales conversation but that it would be unreasonable to assume that the sales person would have deviated from the approved script which seeks acceptance useing the words "are you happy for me to set this up for you today".

    We had originally complained on the grounds that the policy was mis-sold because no consideration was given as to whether it was suitable for my wife's needs and her existing provisions were not discussed. Shje was not asked if she already had a policy. As her employer provied 6 months full pay and then half pay indefinitely, and I had more than enough savings and investments to cover the credit obtained, PPI was completely unnecessary. I am surprised by the FOS ruling and am seeking help in an appeal.

    Thanks for reading this,

    Roger.
  • cappo
    cappo Posts: 2,121 Forumite
    edited 13 June 2011 at 10:27AM
    Getitback wrote: »
    Hi All,

    I had submitted a claim on my wife's behalf to Capital One for PPI on her credit card balance over a number of years, which they rejected. Having used the templates from this site and followed the process suggested I referred it to the FOS only to have it rejected saying:

    " I accept Capital One may not have adequately explained the ongoing cost of the policy and potential monthly benefit that would have been paid in return for your premiums. However, even if Capital One had done so, I am not persuaded this would have effected your decision to take out the policy. I think it is more likely than not that you would still have purchased the policy if you understood exactly how much the policy would cost and the potential amount you would receive in benefit in the event of a claim."

    He also goes on to say the Capital One have no recording of the sales conversation but that it would be unreasonable to assume that the sales person would have deviated from the approved script which seeks acceptance useing the words "are you happy for me to set this up for you today".

    We had originally complained on the grounds that the policy was mis-sold because no consideration was given as to whether it was suitable for my wife's needs and her existing provisions were not discussed. Shje was not asked if she already had a policy. As her employer provied 6 months full pay and then half pay indefinitely, and I had more than enough savings and investments to cover the credit obtained, PPI was completely unnecessary. I am surprised by the FOS ruling and am seeking help in an appeal.

    Thanks for reading this,

    Roger.






    I had exactly the same roger even down to the wording it must be a generic response,capital one are very hard to prove a missale on,I've now escalated my fos case to the ombudsman,I have heard that the fos consider a capital one credit card a non advised sale stick it in to the fos for consideration of the ombudsman,it should also be noted that capital one were one of the biggest rogue sellers of ppi (apparently):eek:
  • di3004
    di3004 Posts: 42,579 Forumite
    h0pusp0pus wrote: »
    i posted this on the successes and failures thread but thought id post it here as well to spur you all on :)

    some good news this morning from mbna regards my abbey credit card they have upheld in my favour and agree i was miss sold the ppi insurance policy and they are refunding my money :)

    break down as follows

    total amount of ppi charged since sale of card £292.82

    total amount of interest associated with ppi premiums £852.82

    8% amount £0.00 :(

    total = £1145.64 :):):)

    no 8% interest would it be worth taking this to the ombudsman or would it be such a small amount that it just wouldnt be worth it and if going to the ombudsman and they have agreed that it was miss sold would they award the 8%

    they are putting it towards my balance owed which is a good thing because it will send my monthly crippling payments down and i wont waste it on buying something lol

    a huge thank you to di and amersall and everyone else who has helped and offered help to me your all a fantastic bunch :)

    i originaly put my complaint in around the 18th of may 2011

    just gotta hope for a good result from the other 4 now :)

    and to everyone else it can be done so sit tight and get back whats yours!!!


    Congratulations!:beer:

    Defo get on to them about the 8%, good luck.
    The one and only "Dizzy Di" :D
  • di3004
    di3004 Posts: 42,579 Forumite
    My bank has said no. A small mortgage was taken out in 1999 with 2 ins policies and then topped up in 2006, the bank making us take out 2 more. (4 in total, taken out through their own Ins co) They are saying that these are Term assurances and not PPIs. Dont know what to do next.
    They sent paperwork stating that we did not have to take them out through them, but it was our choice. Very Confused
    Please hlp


    Hello there

    I Suggest to post about this on a separate thread, as its in regards of a mortgage policy, Dunstonh I'm sure will be able to advise you on this further.
    Its still within the ppi reclaiming threads, and I will post up a new thread below for you to post about this matter on, title it, "Mortgage ppi help required" something like that, so it won't be missed, good luck.
    http://forums.moneysavingexpert.com/newthread.php?do=newthread&f=169
    The one and only "Dizzy Di" :D
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