A win of some magnitude, not from comping but just had to share!

Squina

Brilliant. Thanks for the advice, Biker Chick. x

sax11

nice amount

wish i had taken something out on ppi now - could do with a cheque of some description

Daza

Wow £21,000 PPI on a loan that was paid off in 11 years ..... the original loan amount must have been in excess of £200,000

Biker*Chick

Daza wrote: »

Wow £21,000 PPI on a loan that was paid off in 11 years ..... the original loan amount must have been in excess of £200,000

Ha ha Daza!! It certainly felt like it could have been that much as we were paying it off!! I can't remember how much the original loan was for - about 10k I think, but at the highest amount I think we were in the red for around 34k :eek: :eek: We certainly weren't living the jet-set lifestyle or anything, far from it!! :rotfl:

We just knuckled down after I finished uni and at one point were paying back around £750 p/m for around 2 years I think :eek:

We're still awaiting a separate letter form the bank detailing the breakdown of their PPI refund to us, but I imagine it's something to do with compound interest that bumped it up to that amazing amount. I'm not questioning it anyway (although until the funds clear on Thursday there's that little voice saying 'is it really real'!!) and happy to say 'thank you very much bank, and leave it at that

Pippa_inBucks

Fantastic! I too had a letter in the weekend from MBNA. A complete shock! I got back, nearly £7000! I completed the standard form, that I downloaded from their website, at the front of March 2014. I had a Virgin Money CC from around 10 years ago, that was very slowly being paid off. It was straight forward and quick, which I know perhaps I am very lucky for. I have read many times about the bad luck and delays that many of you have had in getting decisions. I would very much urge folks to try though....That money will make a huge difference to mine and my partners life. I can be very nearly debt free now, for the cost of two stamps! do it folks!

sax11

i always thought that people who took out ppi were fools, now it seems they weren't as foolish as i thought

i'm sure ive got something going back many years i'lll have to look into - the only one i do remember is a pc and 'extra insurance' on credit from about 15 years ago, probably too late for that now

JessicAhh

Lovely!!! Well done for nagging your OH...!!!

I know how you feel (to a lesser extent) - we got back about £5,000 a year or two ago. There's something incredibly rewarding about it, isn't there? Knowing that because of your hard work, you've succeeded in getting both 'justice' and cash

JessicAhh

sax11 wrote: »

i always thought that people who took out ppi were fools, now it seems they weren't as foolish as i thought

In lots of cases, people weren't told they were taking it out, or were told that they had to take it out, or couldn't have the loan/credit card etc.

JessicAhh

Squina wrote: »

Just out of interest, were you aware you had taken out PPI at the time or had it just been added onto the loan without your knowledge? We have always said no to any add-ons, but I was wondering if they might have sneaked it on anyway.

Thought you might like another experience to add to your info...
OH and I took out a loan with our bank (Lloyds) over the telephone. We never had to sign any paperwork - and actually never received any, and because it came out of the bank account every month and was the sum we were told it would be, we never queried that.

However, when the PPI claiming thing came about, I contacted Lloyds to ask if we were paying PPI on the loan, how much it was etc, and how we'd been signed up for it: they admitted it was added automatically, and that we were never asked whether we wanted it or not. :mad:

Squina

That's so interesting, thanks JessicAhh. Our loan was with Lloyds too and we took it out in 2008, so will definitely be giving them a call. Is that all you had to do, the telephone call, and they admitted it straightaway or did you have to fill out forms, etc, first?