Have you reclaimed PPI?

Shakeybob

Having realised how far up the suspicious smelling creek I was moneywise, I decided to finally take back control of my finances. I stopped smoking (5 months now), and tightened my belt. Upon realising how much money my bank had been making on my poor spending habits I wanted to get some back, reclaiming charges etc. One of the things was my un-secured loan. I phoned HSBC for advice... no problem they said, just pop down to your local branch we may need you to sign for a reimbursment. Great! After finally getting a day off from work I managed to get to speak to someone at the bank. After hearing what I wanted they grilled me and used every scare tactic under the sun to try and convince me that I didn't want to cancel, even getting another member of staff to sit in to help convince me! After about 40 minutes of this I finally made my excuses that I had to go otherwise would be risking a parking ticket, they said the only way to cancel would be to re-apply for the loan minus the PPI. So I said OK, and left before I got lynched! After about an hour, I was telephoned by the bank and told I had been refused the loan and would have to try to get a loan elsewhere to pay off my existing one in order to remove PPI! Even though the loan amount was for less than my existing one! Catch 22! Anyone with any advice? I'm at a loss!

clairehr_2

Hi,
Just recieved notification that I will have my PPI refunded! I took out a loan with LloydsTSB in January 2003 for £6500. I took the PPI because they would not give me the loan without taking it. I sent my letter to them on 4th May and they phoned me on 9th May to tell me that I would be having £1191 back! My letter stated that they had mis-sold me the policy. My loan will be finished early now! No fuss and no hassle at all. Result!!

vanessa123

Shakeybob wrote: »

Having realised how far up the suspicious smelling creek I was moneywise, I decided to finally take back control of my finances. I stopped smoking (5 months now), and tightened my belt. Upon realising how much money my bank had been making on my poor spending habits I wanted to get some back, reclaiming charges etc. One of the things was my un-secured loan. I phoned HSBC for advice... no problem they said, just pop down to your local branch we may need you to sign for a reimbursment. Great! After finally getting a day off from work I managed to get to speak to someone at the bank. After hearing what I wanted they grilled me and used every scare tactic under the sun to try and convince me that I didn't want to cancel, even getting another member of staff to sit in to help convince me! After about 40 minutes of this I finally made my excuses that I had to go otherwise would be risking a parking ticket, they said the only way to cancel would be to re-apply for the loan minus the PPI. So I said OK, and left before I got lynched! After about an hour, I was telephoned by the bank and told I had been refused the loan and would have to try to get a loan elsewhere to pay off my existing one in order to remove PPI! Even though the loan amount was for less than my existing one! Catch 22! Anyone with any advice? I'm at a loss!

we had exactly the same dealings with hsbc, no one can help over the phone, you have to go and see them etc.etc all delay tactics.
we were told to re apply for the loan to get rid of the ppi, which we did and were refused just like you.
at this point they hope you will go away BUT!!!!
we just got a new loan from another company without ppi.
the thing is that if you are paying off a similar loan with what you have applied for, there should be no reason for you to be refused the loan as they can see that you are in a position to service the loan as you have already been paying it to someone else.
we did it through alliance and leicester as we had just opened a new account with them as we are also claiming bank charges from hsbc.
good luck

Mike_Holden

Hi,

In September last year I took out a loan with Northern Rock for a new car. During the lengthy conversation about my financial position, I stated very clearly I didn't want PPI. However, when the forms arrived for signing, there was the PPI on the agreement (actually, with a cover letter from NR explaining I'd opted for their PPI!) I signed the loan agreement, but wrote across the PPI section 'Not required'. They contacted me to say I couldn't write like that on the agreement, as it was a legally binding document (which was exactly why I didn't just sign it uncommented in the first place). So I told them of their !!!!-up and requested a new form immediately, as time was now pressing. Along came a second form a few days later - still with PPI on board! I rang NR, gave them hell, instisted on speaking to someone in Customer Service, and explained I thought they were doing something bordering on illegal, as I'd made it quite clear I didn't want PPI, but someone less concerned with details could have ended up with it without realising.

I also explained that their mistakes were causing me delays in getting the money I needed, stressing the urgency and offering to deal with documents by fax. This, they said wasn't acceptible 'as they are legal documents' (I know people have signed for houses by fax before, and I'm sure they're legal documents...). My only option was to wait for a third form, and send it to them by Special Delivery

After finally organising the loan, I wrote to Customer Services explaining the catalogue of mistakes, and my suspicions that they could be falling foul of regulations by acting this way. After an initial offer to refund the £4 cost of Special Delivery(!!), shortly afterwards I got a letter back offering me £100 for my trouble!

Some of my friends think it wasn't worth the hassle for £100, but my reply to this is that I'd have had the hassle anyway, or had to take out unwanted PPI, so once I'd gone through it, why not ask for some compensation for it?

Mike

miketheblonde

Hi all. I'm a new user so please forgive me if this rambles on too long!

I have PPI on two credit cards; through St Andrews for my Virgin card and with Barclays Insurance Dublin for my Barclaycard.

In August last year I had an accident at work resulting in a prolapsed disc which required surgery in November to correct. In October, when I realised I was going to incapacitated and off work for a significant amount of time I contacted both companies to activate the Payment Protection. Both compaines initially declined to pay due to the fact that I had previously had back trouble (muscular and totally unrelated to my accident) and had had this at the commencement of the policy.

Three letters of appeal and £64 in fees to my GP later, St Andrews eventually agreed to make payments on my Virgin card. With Barclays I have appealed against their decision FOUR times, which they still maintain is correct due to pre-existing back problems. I am currently awaiting their decision in response to my latest appeal, now nine+ months after the accident and more than seven months after first claiming! Needless to say the added stress this has caused has done nothing to aid my recovery and I remain unable to work at present.

I hope recalling my experience helps other people when making decisions about whether to take out this, apparently usless, insurance!:mad:

welshchick_2

Hi all
This is my first post on this forum so sorry if it's in the wrong place, i need help with a problem i have with Citi Finance so here is goes

I sent an S.A.R - (Subject Access Request) request off to Citi Finance and sent it recorded delivery. I then:

Received a letter on March 7th with my £10 cheque returned daying that they were unable to accept the cheque because the account was paid in full.

On March 19th i received another letter saying that they had some difficulty tracing our account but it has now been resolved and a transaction history would be provided soon.

On April 2nd i received the following letter:

Please find detailed below a transaction history of your account which opened on 28/09/04

15.10.04 Paid £466.87
15.11.04 Paid £466.87
15.12.04 Paid £466.87 - Payment returned
15.01.05 Paid £466.87
15.02.05 £10 fee applied to account
21.02.05 paid £35183.79
21.02.05 Rebate to customer £4568.42

Kind Regards
Hayley Floyd
Assistant Manager

I then tried telephoning the number on the letter as we had never had a rebate and it said that there was no such number. I then telephoned the head office to get the number of the Cardiff branch where i had the letter from. I telephoned Cardiff and spoke to someone called Anthony who said that he had access to limited information as it had been archived and he would have to send for my file. He then proceeded to question me on why after 2 years i am questioning my account with them blah, blah, blah. He told me to ring him Tuesday 10th April as he should have my file back.

On April 10th i rang and asked to speak to Anthony, the lady asked who was calling and put me on hold, she then come back and said that Anthony was not available and what was i telephoning about. I explained everything that had happened and she said she would phone me back. She called back about half an hour later saying that they had not yet received my file and the person i needed to speak to would not be back until the following day, she promised that Hayley Floyd would call me back to discuss the issues i had on Wednesday. I had no call on the Wednesday so i rang and was told that no one was available to talk to me about the issue and that when someone was they would ring, no one rang me so after various phones calls back and forth i have now received my secured loan agreement off them.

The amount I borrowed was £36483.25 over 240 months and the monthly instalments were £466.87 the APR was 15.7% (1.21% per month) the amount of £36483.25 included £5428.71insurance which I was told I had to have and £400.00 fees and disbursements in connection with the loan.

I only had the loan from October 2004 to February 2005 so approx 5 months and I paid them back £35183.79 I made payments of £933.74. I never claimed off the insurance so surely I shouldn’t of had to pay that back.

My question is really should I have paid all this back when £5428.71 of the loan was insurance and I only had the loan for 4 months?

Sorry it's a bit long but i had to give the full picture of what has been going on.

Thanks in advance

Hayley



Please help!!!!
Cheers
Hayley

GirlRacer_2

I took out a loan with Northern Rock a few years ago (it's now paid off), when I took the loan I was told that I'd only get the money if I signed up for their Gold PPI package. Could I claim the money back? The loan was paid off September 2006?

regularsaver1

Can I ask, if people don't take PPI with the loans, do they look elsewhere? or not bother?

The reason i ask, is that unfortunately, we see many posts where people have been made redundant, suffer an illness ect, but have no cover on their cards/loans/mortgages ?

I know my dad wouldn't of been able to pay his mortgage without his cover when he got made redundant

jonesMUFCforever

Cemma wrote: »

my partner took out a £6000 loan with PPI in jan 2004 whilst self employed with Lloyds TSB, we were fortunate enough to pay off the loan in full in Nov2005.
We recently raised a complaint about the PPI being useless for the self employed. Yet Lloyds insurance have defended and said that they would have paid out had it have been called for, as the insurance DID cover, self employment.
We've now just re read the paperwork and insurance cover and have noted that as we paid the loan of early we should have been entitled to a rebate of some of the insurance we paid........so our fight continues.........!

I think you will find that any rebate would have been used to reduce the amount outstanding when you paid off the loan.
That is what normally happens anyway unless you had claimed on the insurance when no rebate is available.

GirlRacer_2

I got separate total income cover, that will practically give me the same level of income should anything happen. I can then still meet my repayments.