PPI Reclaiming successes and failures

di3004

Sandyhills wrote: »

Hi all, new member here have been reading the interest all your questions etc about dare I say Firstplus, we had a loan with them PPI was £13649 loan is now paid but have started to try and claim the ppi, your site gives out brill support

Fab :T well done and Congratulations.:beer:

halphy

hlegs wrote: »

Hi! thanks for this info. Have just received my user agreement form A&L for loan taken out 2003. At time had to take PPI even tho' didn't want it but wouldn't give me the loan otherwise. PPI was £1100 - do I attempt to claim this amount or do I need to add interest to this? Thanks.

Email and ask for refund due to being made to take it, they should add the 8% interest

Good Luck x

halphy

What were you reclaiming: Credit Card PPC
Who was the provider: MBNA
How much did you get back: £635.11
Did you get it back after a letter or did you go to the Financial Ombudsman: One letter
And then write your brief reclaim tale
Sent a letter to MBNA in June, they wrote saying they were still investigating, recieved a letter today saying they will as a good will gesture refund PPC paid plus interest which is £635.11, i had no clue how much I'd paid as i used the card here and there! Chq will be with me within 30 days!
Thanks Guys :T

amersall

lickoloctupus wrote: »

Work out how much ppi was paid over the course of the loan (months paid x £200) and then add 8% compound interest on each month to see what you could reasonably get. There are plenty of sites that have interest calculators and it should give you an insight into what you should have received back. if the figure is near to 13.5k its then upto you

First plus are beggars when it comes to repaying, if the loan is still running you only get ppi paid to date back with interest, the 13500 is put on the loan at the beginning and interest added monthly, so if the loan has only been paid for 5 years then you only get the ppi you paid to date with the interest on those payments,, the ppi of 13500 is taken off the loan balance.You only get the ppi back in total if the loan is paid off.If it is a goodwill gesture you dont get the 8%, i know this as i won with a fp loan but the fos found in my favour so i got the 8%, on the fpc site people who got goodwill did not get the 8%.Unless the loan is paid off we dont want the op to think they are getting the 13500 back with interest plus the 8% x

supersaverg

Been helping some people at work after I got circa 4k back from various sources.

Had another great success with a colleague who has just been awarded £5, ooo, all from Lloyds TSB.

Result as he is just moving house & clearly shouldn't have been paying these premiums. Accumulated over a number of loans over the last 5 years.

If in doubt.....DO IT. It only took two letters.

buffybot999

after waiting 4 months, i've just had letter back from hsbc saying that as on the agreement it said i had a 30 day cooling off period they will not refund. They still haven't cancelled policy (which is still running) saying i needed to arrange a new loan. Went into branch who advised i would have to wait for investigation to be over before arranging anything.
I have sent off to FOS a couple of weeks ago as they were taking too long.
Do you think I should write to HSBC advising that I have done this and that not happy it took so long with policy still running?

amersall

buffybot999 wrote: »

after waiting 4 months, i've just had letter back from hsbc saying that as on the agreement it said i had a 30 day cooling off period they will not refund. They still haven't cancelled policy (which is still running) saying i needed to arrange a new loan. Went into branch who advised i would have to wait for investigation to be over before arranging anything.
I have sent off to FOS a couple of weeks ago as they were taking too long.
Do you think I should write to HSBC advising that I have done this and that not happy it took so long with policy still running?

Hi there, well done for waiting so long, the fos will deal with them now but i would send the bank a letter to let them know what you have done and that you were unhappy with the reply you got from them.Good luck with this

Rossy.

What were you reclaiming: Personal Loan PPI
Who was the provider: Natwest
How much did you get back: £2,631
Did you get it back after a letter or did you go to the Financial Ombudsman: Ombudsman Questionaire only
And then write your brief reclaim tale

Sent off the questionaire 12 weeks ago, they agreed i had been mis sold after 8 weeks of investigating, Money recieved in my account today !

Tamrin

hlegs wrote: »

Hi! thanks for this info. Have just received my user agreement form A&L for loan taken out 2003. At time had to take PPI even tho' didn't want it but wouldn't give me the loan otherwise. PPI was £1100 - do I attempt to claim this amount or do I need to add interest to this? Thanks.

Hi how long did you have to wait for a reply? I havent heard anything yet

di3004

halphy wrote: »

What were you reclaiming: Credit Card PPC
Who was the provider: MBNA
How much did you get back: £635.11
Did you get it back after a letter or did you go to the Financial Ombudsman: One letter
And then write your brief reclaim tale
Sent a letter to MBNA in June, they wrote saying they were still investigating, recieved a letter today saying they will as a good will gesture refund PPC paid plus interest which is £635.11, i had no clue how much I'd paid as i used the card here and there! Chq will be with me within 30 days!
Thanks Guys :T

Well done halphy, so pleased for you.:T Congratulations!:beer:X