PPI Reclaiming successes and failures

Tamrin

chippie59 wrote: »

I've been receiving the regular email from MoneySavingExpert.com for quite a while and after much thought I decided to try my luck with a claim for PPI. I took a loan out as a top up on top of my mortgage 7 years ago and had PPI included in the payments. The loan was over 20 years but the PPI was for just 5 years. I printed out the template letter and sent off my claim 2 weeks ago. I have just received a letter offering me a refund of £5000+ which I will receive within 2 weeks. Many thanks Martin because without you this would never have happened, Keep up the good work!!!

:jWow another success well done:T

amersall

smallwren wrote: »

• What were you reclaiming: Loan PPI
• Who was the provider: Lloyds TSB
• How much did you get back: £6,000!
• Did you get it back after a letter or did you go to the Financial Ombudsman: after 1 letter
• And then write your brief reclaim tale

I'm usually a bit of a lurker on this forum but wanted to drop a quick line to say thanks for the template letters - we sent the first one and recieved an offer of just over £6k in the post yesterday. This is seriously life changng stuff for us as we will use the money to pay off other outstanding debts - by doing this we'll be between £230 and £450 a month better off. Such a relief to know that in 21 days we have the space to breathe again each month and its all because of you lovely people at moneysavingexpert!

Thank you all so very very much - you have made a MASSIVE difference to us.

wELL DONE ON YOUR WIN :T:TEXCELLENT :money:

amersall

chippie59 wrote: »

I've been receiving the regular email from MoneySavingExpert.com for quite a while and after much thought I decided to try my luck with a claim for PPI. I took a loan out as a top up on top of my mortgage 7 years ago and had PPI included in the payments. The loan was over 20 years but the PPI was for just 5 years. I printed out the template letter and sent off my claim 2 weeks ago. I have just received a letter offering me a refund of £5000+ which I will receive within 2 weeks. Many thanks Martin because without you this would never have happened, Keep up the good work!!!

:money:Well done :beer::beer: congrats :T:T

Devils_Avocado

wookie66 wrote: »

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

Thanks for that!

We've just had a refusal letter from HSBC regarding over £6900 in PPI payments. It was in my wife's name. She's a college lecturer and never needed all that "protection" as most of the cover from the PPI would just be duplication. However, it was clearly intimated by her advisor that such a large unsecured loan had to have PPI to be approved.

HSBC have referred to their leaflet which said that we had 30 days in which to cancel their PPI.

We're preparing a "think again" letter and, if no joy we're off to the ombudsman.

Mike

di3004

Sorry, was not here much yesterday (beloved dad's funeral), but would like to say, Well done and Congratulations to all winners.
:T:beer::jXXXX

maxbann

What were you reclaiming: Personal Loan
Who was the provider: HSBC
How much did you get back: £4717.48 + £921.56 interest = £5639.04
Did you get it back after a letter or did you go to the Financial Ombudsman: Two letters then through the Financial Obudsman

When I took the loan out I naively thought that the PPI would help in approval process as I really wanted the loan and my intention was always to remove it later on; as I had on previous loans with HSBC. When I eventually went into the branch (after 4yrs of a 8yr loan!) I was told I couldn't take the PPI off without having my loan recalculated, credit scored ect. I got the same reply over the phone a few times and that's when I decided I look into the possibility of claiming the PPI back.

I downloaded MSE letters and altered them for my circumstances. The first two were met with the standard HSBC rejection letters together with copies of my original agreement. Undeterred I then registered my complaint with the Financial Ombudsman Service and after a few months I was called by the case manager. I explained that I all I wanted to do was just cancel my PPI and keep the loan going; as I was led to believe when I originally took the loan.

A few months later I received the great news from the Ombudsman that they had found in my favour!

This was then followed by the best letter I have ever received from a bank to ask which account I would like the £5639.04 they owed ME deposited in! With not even a hint of an apology. I've been with them 20yrs since the days of the Midland Bank; I've had other loans, credit cards & been charged £1000's over the years in unfair charges by them......well up yours HSBC!

A small victory for the little guy.

And a big thank you to Martin and all of you at Money Savings Expert!

Max

deanr46

For theflowerpotman

[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]

[EMAIL="eric.daniels@lloydstsb.co.uk"]eric.daniels@lloydstsb.co.uk[/EMAIL] (CEO of Lloyds TSB)

It might be worth phoning first though as they can start looking into your claim.
Regards,
Dean

deanr46

Hi everyone,
Whilst I have been waiting for Lloyds TSB to pay my PPI claim I thought it was about time I should start using this website more often for saving money as my house insurance was due up for renewal.
I noticed that I was paying insurance with 3 separate companies. After a whole day of phone calls being passed back and forth it turned out that during the rush to get my mortgage sorted, I hastily agreed to all the insurance policies my mortgage advisor suggested, and that rather than give me combined buildings and contents with Lloyds TSB as I had when I was renting a house, they had brokered ridiculously expensive buildings insurance, and home emergency cover with different companies for a 3 year term.
I should explain that the reason I didn't really look deeply into what I was getting is that I was actually out in the Gulf on a warship at the the time, and had limited time, and resources to sort things out with my mortgage advisor. I just presumed that as they are the Armed Forces branch, she would get me the best deals, and signed the forms when they arrived.
Anyway I cancelled these as well as my Lloyds insurance as I got a much better deal elsewhere, and then realised that home emergency is already covered on my bank card as it's a Premier account so phoned the Lloyds insurance complaints department and they agreed that my branch should have noticed this and informed me, so I am hoping to get that money back as well. It's not a large amount of money but every little helps, and added up it comes to about £250 - £300.
In all I saved about £44 a month on home and buildings insurance, discovered that I have home emergency cover for free, and have a payout of about £250 due from Lloyds for yet again abusing my trust. I'm using the initial saved £44 towards 50MB broadband installation, and then paying an extra £8 a month extra charge on my virgin account. This way I may actually be able to log onto Lloyds internet banking in a decent amount of time lol (anyone else having difficulties with that lately)? The rest is mine to save. So thanks very much for the wonderful advice on this website Martin and team.
I presume they will send me more forms, take an age to open my envelope, and then throw the dreaded 21 day limit on every part of the process but what the hell, at least I am scoring little victories, and learning how the system works.
Anyway moral of the story, if you have a Lloyds TSB Premier account you are automatically covered for home emergency so if you are paying for home emergency cover, cancel it and see if you can get a refund.
Regards,
Dean

Liongirl

Well I just called A&L to chase my refund cheque as the acceptance form was delivered to them on 06/07, so over 2 weeks ago which they state in their letter, and they told me it'll be another 10-14 days and then will be sent by business post (so another 5 days). Am so fed up but not surprised - the letter states 2 weeks, you end up having to wait more than 4. I tried to email the name on the letter, but it was returned undelivered, so am even more fed up now. Does anyone have any contact email addresses for A&L who have responded quickly or managed to help speed things up?

Brendan_F

I took out a loan of £4000 with Halifax. I recently had to claim on the insurance due to sickness but when i called up i found out that they only pay out on a day to day basis meaning they would only cover 3 days of my repayment. I called halifax to cancel this insurance and they asked me why... When i exlpained that i was miss sold the PPI because i wasnt informed of things like how much it cost, how it was paid (one lump payment or monthly) the advisor told me that she could fill in a complaint form and that it would investigated within 48 hour and that someone will contact me within 5 days...

I received calls yesterday and again today and when I was finally able to find out that they where calling about they told me that they would send me out a cheque within 10 days for £1017....


If you think you have been miss sold i suggest that you call up your financial lender or use the letter provided on here...Halifax seem to be very fast in resolving these complaint