PPI Reclaiming successes and failures

di3004

KIMY wrote: »

Well done, l too have had success with Barclays this week l claimed back to 2003 on unfair charges & PPI received letter on Saturday stating would be refunding £1800 in unfair charges and another letter Monday stating they would be refunding £798 PPI they have refunded all paid plus 8% + compound interest. Had a good week for refunds as M & S back to 2001 are refunding £598 PPI and MBNA are refunding my husband £794 PPI on his Abbey card.
Like to say big thankyou to Martin and all on this site for you help and support.:j


ACF = £2800
BOS = £1100
NR = £1100
BARCLAYCARD= £798 = £1800
M&S= £598
ABBEY(ME)= £580
ABBEY(HUSBAND) = £794
HFC - FOS
GE MONEY - FOS
BOS (HUSBAND) - AWAITING

Brilliant KIMY :T:j, great work and Congratulations!:beer:

di3004

red_wharf wrote: »

It would seem that Egg have given up the ghost.

I have looked at moneysavingexpert.com off and on over the years but the PPI article caught my eye. I read with interest all the history of this issue and thought "That's me that is". However as I had secured the loan on-line I thought it might be tricky getting anything back as all the terms and conditions are in front of you. Any how, nothing ventured...

Having looked at the templates and the advice of sending letters I tweaked the approach to suit my circumstances. Egg have a secure messaging service on their site and I simply sent the following email.

" With regard to Egg Payment Protection Insurance on my Egg Loan I am currently being treated for a condition that significantly affects my ability to work efficiently and consequently has a major effect on my income.

I contacted the insurance company to make a claim and on receipt of the claim form it would appear that it is unlikely that I would be covered under this policy. It would seem that the business would have to be totally insolvent in order for a claim to be made. As this serves no purpose to a self-employed individual who's income can be seriously affected by illness without going bankrupt then I do not see how this policy was appropriate in the first place.

I have done some further research and it seems that a major part of the cost of the policy would be for Unemployment cover. As I am self-employed and Egg knew of this at the start of the policy I would like information on what part of the insurance cost relates to this useless element. I also am aware that this policy was sold as an opt-out rather than an opt-in and that Egg no longer offers loan repayment protection since being heavily fined by the Financial Ombudsman.

Please take this secure email as notice that I wish to cancel this policy forthwith and as notice that I feel this policy was mis-sold at the outset and the cost should be refunded."

In less than a fortnight I have received a letter of offer for the full PPI together with interest. No quibbles. No having to go round the Wrekin. This highlights two things.

1. If you've applied on-line its still worthwhile making a claim if you think the PPI was mis-sold.
2. They actually charge interest on the PPI!!! This I didn't realise. The refund I have been offered is £3000 of which nearly £800 is interest. This is a scandal in itself as effectively you are being charged a premium up front for the insurance for the whole of the life of the loan and then paying interest on this. This is effectively a second finance agreement and I'm pretty sure I didn't agree to that.

Thank you Martin and your team. When do you get your knighthood?

Hi there
Thanks for posting on this and I'm sure it will be a great help and encouragement to others, Well done and Congratulations.
:T:beer::j

amersall

:money::money: Really good wins again:beer: congrats to all:j:j

echobeach

At last ,after nearly eight months since the adjudicator's decision upholding my complaint.
The ombudsman's final decision agrees with the adjudicator with some pretty scathing remarks directed towards Egg and how this case should never of had to go to the FOS as Egg would of definately known the outcome of any FOS investigation.

Reading between the lines I sense that the FOS feel that Egg are just wasting there time by rejecting or ignoring complaints..

Anyway a brilliant result for me , don't know how much yet, the initial ppi premium was just over £3k back in 2004 and Egg have been told to put me back in a position as if I had never taken out ppi, plus 8% simple interest per annum, and an extra £200 for inconvenience.

What happens now?
Anyone know any timescales ,how long does Egg get to pay after ombudsmans final decision?

Any help much appreciated, and yes , much beer :beer: will be drunk tonight. cheers everyone.

echobeach x

:beer:

di3004

echobeach wrote: »

At last ,after nearly eight months since the adjudicator's decision upholding my complaint.
The ombudsman's final decision agrees with the adjudicator with some pretty scathing remarks directed towards Egg and how this case should never of had to go to the FOS as Egg would of definately known the outcome of any FOS investigation.

Reading between the lines I sense that the FOS feel that Egg are just wasting there time by rejecting or ignoring complaints..

Anyway a brilliant result for me , don't know how much yet, the initial ppi premium was just over £3k back in 2004 and Egg have been told to put me back in a position as if I had never taken out ppi, plus 8% simple interest per annum, and an extra £200 for inconvenience.

What happens now?
Anyone know any timescales ,how long does Egg get to pay after ombudsmans final decision?

Any help much appreciated, and yes , much beer :beer: will be drunk tonight. cheers everyone.

echobeach x

:beer:

Hi

Wow that is brill news, Congratulations!:beer: go for it and enjoy:j:j:beer:.

I think if I remember rightly when you sign the acception from the ombudsman and you return it, they then send a copy with a letter to EGG, and the FOS will tell them to make arrangements to make the refund to you.

The ombudsman will or should write to let you know they have done this and often states "if you don't hear nothing by say 4 weeks contact EGG yourself to check on this", and you can of course let the ombudsman know as well if you have not received it by the expected ombudsman timescale, they then normally get one of their adjudicators/case workers to chase them up.

Hope you won't be waiting too long, good luck.;)

dec22

echobeach wrote: »

At last ,after nearly eight months since the adjudicator's decision upholding my complaint.
The ombudsman's final decision agrees with the adjudicator with some pretty scathing remarks directed towards Egg and how this case should never of had to go to the FOS as Egg would of definately known the outcome of any FOS investigation.

Reading between the lines I sense that the FOS feel that Egg are just wasting there time by rejecting or ignoring complaints..

Anyway a brilliant result for me , don't know how much yet, the initial ppi premium was just over £3k back in 2004 and Egg have been told to put me back in a position as if I had never taken out ppi, plus 8% simple interest per annum, and an extra £200 for inconvenience.

What happens now?
Anyone know any timescales ,how long does Egg get to pay after ombudsmans final decision?

Any help much appreciated, and yes , much beer :beer: will be drunk tonight. cheers everyone.

echobeach x

:beer:

Well done!

Once Egg receive your acceptance form from the FOS, it takes about 2 weeks until you get your refund in your account. Mine took 8 days (in May) so things move quite quickly nowadays. They received my form on the Thursday, the lady dealing with mine said they get sent for checking every Friday and then get paid as soon as they are approved, so mine must have been released on the Tuesday as it was in the bank on the Thursday, a weeklater.

Egg nowadays seem to be refunding most claims within weeks without involving the FOS and they have changed their policy on refunding directly back to the loan and not to yourself. They've obviously had a ticking off while our claims were lying waiting at the FOS.

di3004

Cool 2 weeks, that's even better/:j:T:beer:

lickoloctupus

My wife took out a Vanquis card in 2006 and at the moment we are repaying it with other debts via the cccs. I had a statement come and it shows the balance is increasing each month and upon investigation Vanquis informed us it was the PPI on the account. We have cancelled it and requested it be paid back due to miss-selling.
Today Vanquis replied that it is not a PPI but a repayment option plan that my wide agreed to over the phone when she activated the credit card.
Can we still claim this back as my wife did not fully understand what she had contacted into.

wookie66

First of all a MASSIVE thanks to Martin and this site without which I would not have got the result of £3500 repayment of PPI protection from HSBC

I took it upon myself to recover this from HSBC who had (mis)sold PPI in 2004 on a £14000 loan I took out

Followed the simple straightforward instructions on this site, sent letter and FOS template in May 2010, got two holding letters from HSBC saying they were still investigating in June 2010 and finally today I got a letter from HSBC settling the claim but denying any wrongdoing (typical!)

The repayment of £3500 includes interest at 8% so a right result

Hope other readers are encouraged to submit their own claim if they have ever taken out a loan with PPI.

And on a final note do not whatever you decide get a third party to do this for you since they usually take a % of the repayment for managing your claim, something which anyone should be able to do without difficulty. There are plenty of pointers and guidance on this website.

Good luck to those still awaiting the outcome of their claims

di3004

lickoloctupus wrote: »

My wife took out a Vanquis card in 2006 and at the moment we are repaying it with other debts via the cccs. I had a statement come and it shows the balance is increasing each month and upon investigation Vanquis informed us it was the PPI on the account. We have cancelled it and requested it be paid back due to miss-selling.
Today Vanquis replied that it is not a PPI but a repayment option plan that my wide agreed to over the phone when she activated the credit card.
Can we still claim this back as my wife did not fully understand what she had contacted into.

Hi there

I would personally ask them to send you the booklet details, because it could still be the same as ppi but maybe just under another name, for example if this cover is for instance meant to cover for sickness/unemployments and so on, then it would be classed the same as a ppi policy.

I would also request for a copy of the telephone recordings, this may help your case.
Sometimes they provide the recordings free of charge but another way would be to request an Subject Access Request, in short known as a SAR.
If you request for a SAR, they should send all info held on the account, and they have 40 calendar days to do so, with an enclosed payment of £10 cheque or postal order.

If they cannot provide the disc recordings, they must therefore then have this in written transcripts.....which should be enclosed within the SAR.

A SAR template letter here;
https://forums.moneysavingexpert.com/discussion/1475553

Hope this helps, and post by recorded delivery, for your proof of posting.

This may help support your case and if you write back to them to request they consider once you have further details, they may change the decision, and if they don't you can always then complain to the financial ombudsman service (FOS).

They should enclose the FOS leaflet with the final decision.

Hope this helps, please keep us posted.

Another way you could check out this cover, is online on their website perhaps.;)