M&S PPI Loan Claim - Anyone Else Claimed?

James0101

Hi,

This is my second post and my second and final PPi claim I'm trying to sort.

Got a loan with M&S back in 2002 for £10k.

Now un-like my previous AA loan where I have all the documents, I only have the agreement number for this one from when it finished.

Paid £255.48 per month for 60months via Direct Debit which I paid every month until it finished in May07 - never claimed and was in full time employment.

Paid just over £15k back!

Now I remember the guy on the telephone telling me one monthly repayment figure, and one only and he strongly recommended I take out the insurance. Wasn't given a price without it. I can't remember if the insurance was front loaded like my AA claim or not.

Sent them a template letter and got letter back from them today with a questionaire to fill in and return.

Anyone else had any dealing with these? Do I stand a chance of a claim?

Any info appreciated.

amersall

Single Premium is the reason that you use, it is possible that they will not have any info for this loan and due to the year they may reject this as they could say they were not regulated at the time of the sale.
Put the claim in and see what they come back with, you have nothing to lose and you never know... people have won claims with loans from the 90s, I did with Barclays and only had the settlement figure!!.

cfcboy

Hi James... your in luck (if you are prepared to wait!)

I started my claim aginast M&S back in September 2009 for a loan I took out March 2001. At first I got turned down with M&S saying they were unregulated etc etc, so I took it to the FOC.

FOC had many dealings with M&S, in the end they managed to pin it on Allianz who were the insurer at time (acting for M&S) who were in fact regulated! After almost 2 1/2 years later M&S are paying up, got a letter to say they will be offering:

Total insurance Refund - £1,498
Plus interest 8%

Total offer - £2,567

I read in the news this week that M&S (mainly HSBC) had set aside £52m for PPI cases so it seems they may have buckled of late so should be a lot easier than when i first started my process. If they give you the unregulated information try to find out who the insurer was, if its Allianz you are likely to be in luck!

Good luck, any queries PM me

Mumpkin1

I put in a claim for PPI on a M&S loan. I borrowed £5000 back in 2001 over a 7 year period. Luckily, I still had the original agreement and letter stating the monthly repayment. It seems I was lucky because it was upheld.

Don't give up! I've had successes and failures. It seems to me the 'big' banks are proving more difficult though.