Alliance & Leicester PPI Success

LoidPhil

Although I had read articles about reclaiming PPI, despite having taken out numerous loans/credit cards over the years I didn't think that I had ever signed up to a PPI policy.

It came as something of a surprise, therefore, when I received a letter from Alliance & Leicester a fortnight ago in relation to a loan that I had with them between December 05 & May 06, that was paid off early due to my finding a much better APR elsewhere. It seems that I had also taken out PPI with this loan.

I phoned up the freephone number and waited about 45 mins to speak to an advisor - boy am I glad I did. I explained that I had assumed the PPI to be a compulsory requirement and would never have taken it out if I had known otherwise as I have adequate cover elsewhere.

The loan repayments were only £97 per month, so given the short duration over which I had held the loan I didn't expect much to come of it. I was delighted, therefore, to receive a letter yesterday morning offering me £210. This appears to be made up of a complete refund of PPI payments (£70), and adjustment to the redemption value of my loan (£110) and interest accrued on the above sums since the date of redemption (£30). All in all a right result given that I wasn't even aware of the policy, so naturally I'm accepting the offer.

My message to anyone who receives a letter like the one I did a fortnight ago - don't bin it, what have you got to lose for the sake of a 45 minute free phone call :j

LoidPhil

Oops, sorry, didn't see sticky thread for success/failure stories. Happy for a moderator to move this if required.

di3004

LoidPhil wrote: »

Oops, sorry, didn't see sticky thread for success/failure stories. Happy for a moderator to move this if required.

Hi there and Congratulations to you, well done on your success :T :beer: , brilliant news and this will give hope to others.:T :beer: .

Hopefully one of the main MSE members would transfer this for you over to the success thread, as this site does not actually have moderators as such, or if you want to hun, instead of writing it all out again, just copy and paste and take over the success thread.;) X

LoidPhil

Since returning my offer acceptance on 26 February (received by them on 3 March) there's not been a payment in sight.

I'm not sure what their usual timescale for payment is but I phoned today to chase it up and received the usual "we're inundated" message. I then, very forthrightly but not rudely, suggested a timescale of my own and generously gave them until 1 May to cough up or I'll contact the FSA. This will be virtually 8 weeks since they received my acceptance offer, ample time in my opinion for them to have posted a cheque. We'll wait and see what impact this has.

di3004

LoidPhil wrote: »

Since returning my offer acceptance on 26 February (received by them on 3 March) there's not been a payment in sight.

I'm not sure what their usual timescale for payment is but I phoned today to chase it up and received the usual "we're inundated" message. I then, very forthrightly but not rudely, suggested a timescale of my own and generously gave them until 1 May to cough up or I'll contact the FSA. This will be virtually 8 weeks since they received my acceptance offer, ample time in my opinion for them to have posted a cheque. We'll wait and see what impact this has.

Suddenly they all seem to be taking their time paying out, but again I suppose they have that many complaints and refunds to deal with, and yes your right that is ample time.
I hope you hear something or even receive something by your given timescale, good luck.;)

Caseyface

Same for me Loid, i rang them last week and was told the acceptance letter was on the system but he could not tell me when the cheque would be posted....

I keep running for the post in the morning...am i sad? haha :rotfl:

perplexed.com

We returned our new loan agreement 5 weeks ago ( without the PPI - they made us an offer of a refund plus interest :j ). When I called to find out the state of play today, they had an automated message saying that due to the amount of claims etc etc refunds would be sent in the next three weeks. I shouldn't hold my breath then I suppose!

nicklayzell

I've now been waiting 8 weeks for A&L to come back after accepting their offer of the PPI premiums plus interest. Ive called them twice, the latest yesterday to be infiormed that it is with the cheque issuing department. As far as Im concerned this isnt good enough, and Ive requested an additional 8 weeks interest to be added to the refund for the further delay.
The most disaoppointiong thing is that they have no idea when I may get the refund. Assuming the cheque issuing department know roughly how many refunds they need to issue, and how many they can process in a day, how hard can it be to give me an estimate of when Im likely to get my cash?
If I couldnt tell my other departments when Im able to deliver something at work, I would be out of a job pretty sharpish.
The reality is that they do know, but theyre just unwilling to further disappoint people, and I have a hunch that theyre sitting on a lot of cash that they want to hold onto as long as possible in order to mitigate their total losses. Im complaining to their customers services department now.

di3004

perplexed.com wrote: »

We returned our new loan agreement 5 weeks ago ( without the PPI - they made us an offer of a refund plus interest :j ). When I called to find out the state of play today, they had an automated message saying that due to the amount of claims etc etc refunds would be sent in the next three weeks. I shouldn't hold my breath then I suppose!

Hi there

Hope you receive this soon then, good luck.;)
And well done !:beer::TX

di3004

nicklayzell wrote: »

I've now been waiting 8 weeks for A&L to come back after accepting their offer of the PPI premiums plus interest. Ive called them twice, the latest yesterday to be infiormed that it is with the cheque issuing department. As far as Im concerned this isnt good enough, and Ive requested an additional 8 weeks interest to be added to the refund for the further delay.
The most disaoppointiong thing is that they have no idea when I may get the refund. Assuming the cheque issuing department know roughly how many refunds they need to issue, and how many they can process in a day, how hard can it be to give me an estimate of when Im likely to get my cash?
If I couldnt tell my other departments when Im able to deliver something at work, I would be out of a job pretty sharpish.
The reality is that they do know, but theyre just unwilling to further disappoint people, and I have a hunch that theyre sitting on a lot of cash that they want to hold onto as long as possible in order to mitigate their total losses. Im complaining to their customers services department now.

Hi,

Its very frustrating isn't it ?:mad:

I know they all seem to be over-run by both paying out and dealing with ongoing complaints, but they have still had ample time already.
Hope this is dealt with soon through Customer Services Dept, good luck.;)X

perplexed.com

di3004 wrote: »

Hi there

Hope you receive this soon then, good luck.;)
And well done !:beer::TX

Thanks Di :wave: I couldn't have done it without the help of MSE.

Let's just hope they don't stall on paying out too much longer but they must be pretty inundated. I do feel a bit sorry for the people on the end of the phone in these situations.