PPI Reclaiming successes and failures

rockafella72

Superb, more people need to stand up to these banks who think they can treat us all like muppets.
Sometimes its just as simple as filling in a form and the price of a stamp.
Once again, well done

hlegs

Had taken a loan out in 2003 with Alliance & Leicester, had to take PPI as wouldn't give me loan without.

Wrote to them 29th June for a copy of loan application, which arrived about 2 weeks later.

Emailed them Monday 19th July (thanks Halphy for email address) & with loan info & stating had to take PPI or no loan & that this shouldn't have happened.

Letter today saying they are unable to establish if I was provided with sufficient details to allow me to make an informed decision when the policy was taken out etc.

Also, when I paid the loan off a few months before due, PPI rebate was used to reduce amount remaining on the loan but apparently was not proportionate to the remaining term (£120 of a difference!:eek:even more glad I reclaimed now!)

Have made me an offer -
premiums paid on the policy + rebate adjustment +8% interest
total of £1590

I am over the moon! :j Supposed to get cheque 2 weeks after offer acceptance - hopefully this is the case! Let you know how long it takes.

:TBig thank you to all the MSE posts - so helpful - especially halphy & amersall.

Have a few more PPI/charges to chase now. Finger crossed.

rockafella72

Yet another positive outcome, its music to my ears. Welldone :T

di3004

hlegs wrote: »

Had taken a loan out in 2003 with Alliance & Leicester, had to take PPI as wouldn't give me loan without.

Wrote to them 29th June for a copy of loan application, which arrived about 2 weeks later.

Emailed them Monday 19th July (thanks Halphy for email address) & with loan info & stating had to take PPI or no loan & that this shouldn't have happened.

Letter today saying they are unable to establish if I was provided with sufficient details to allow me to make an informed decision when the policy was taken out etc.

Also, when I paid the loan off a few months before due, PPI rebate was used to reduce amount remaining on the loan but apparently was not proportionate to the remaining term (£120 of a difference!:eek:even more glad I reclaimed now!)

Have made me an offer -
premiums paid on the policy + rebate adjustment +8% interest
total of £1590

I am over the moon! :j Supposed to get cheque 2 weeks after offer acceptance - hopefully this is the case! Let you know how long it takes.

:TBig thank you to all the MSE posts - so helpful - especially halphy & amersall.

Have a few more PPI/charges to chase now. Finger crossed.

Fantastic :T, well done to you and Congratulations!:beer::j

middlplay

HSBC loan with PPI taken out in 2003.
Hi guys, a bit new to this so bear with me. It's complicated.
My husband took a loan out with PPI. Read this website and realised the PPi wsa mis-sold so asked HSBC for a refund in Jan 2008. Originally got told by customer services we could have it removed, but we had to have a credit check. Due to the "economic climate" we failed so told couldn't have it removed.
Had appointment booked within the branch where the loan was sold in Feb 2009 and told they'd remove it. Got to appointment only to be told a credit check was necessary! Failed again!
Read up on the law etc (thanks martin) and wrote final letter in May 2009 to tell themto remove it or we would go to FOS
Got response and had it removed (finally) in July 2009. This took another threatening letter though and the cancellation of the loan repayment direct debit for them to act on it.
When it was removed loan was not restructured to original amount. Told this becuase of the top heavy interest it would make payments a little higher than the original by £45 a month! Believed what we were being told and accepted. They had to "Close" the original loan to "open" a new loan without PPI. Again we were fobbed off by them that this was standard practice. Went away thinking "great no more PPi and £50 a month better off"
After I looked on here and done some diggin and phoned FSA I realised we'd been conned by HSBC.
Got in touch with HSBC in Nov 2009, queried why "new" loan had to be taken out, why there was a difference between old and new loan, and more importantly WHERE WAS OUR PPI REFUND?
Couldn't answer questions and when we stated FSA guidelines still couldn't answer. Asked about PPI refund and told "you didn't ask for it so you never got it repaid" Bloody cheek! Told to put complaint in writing to HSBC and they would respond within 8 weeks.
Jan 2010: No response from HSBC so off to FOS we went. Sent all docs off etc and HSBC relied 3 weeks later with offer for £500.00. We rejected. More documents off to FOS another offer from HSBC. This time £1500.00. Offer rejected agin!
Finally in June 2010 ANOTHER OFFER from HSBC. £3500.00. Better but they still refused to restructure the loan to FSA guidelines. All offers made were done before the FOS had fully completed their investigation. Told FOS to continue fully with investigation.
Aug 3rd 2010: FOS phoned and said they have found in OUR FAVOUR! Now got to wait 21 days for HSBC to respond to FOS to reject or accept their findings. If they accept we shall be getting:
1) Full PPI refund plus interest at 8%
2) A refund of an early settlement fee (didn't even know we got charged one, evidently £1300.00)
3) Restructure of loan as if PPI had never been sold
4) Repayment of the higher loan payments (£550.00) + interest
5) Possibility of COMPENSATION under FOS guidelines stating if HSBC knew or should have know that FOS would uphold our complaint.

If they reject it will got to THE ombusdman himself to make it final!
Will let you all know what happens.
This goes to show the fight we have had with HSBC and how they prey on unsuspecting consumers.
HSBC, WE WILL WIN!

di3004

middlplay wrote: »

HSBC loan with PPI taken out in 2003.
Hi guys, a bit new to this so bear with me. It's complicated.
My husband took a loan out with PPI. Read this website and realised the PPi wsa mis-sold so asked HSBC for a refund in Jan 2008. Originally got told by customer services we could have it removed, but we had to have a credit check. Due to the "economic climate" we failed so told couldn't have it removed.
Had appointment booked within the branch where the loan was sold in Feb 2009 and told they'd remove it. Got to appointment only to be told a credit check was necessary! Failed again!
Read up on the law etc (thanks martin) and wrote final letter in May 2009 to tell themto remove it or we would go to FOS
Got response and had it removed (finally) in July 2009. This took another threatening letter though and the cancellation of the loan repayment direct debit for them to act on it.
When it was removed loan was not restructured to original amount. Told this becuase of the top heavy interest it would make payments a little higher than the original by £45 a month! Believed what we were being told and accepted. They had to "Close" the original loan to "open" a new loan without PPI. Again we were fobbed off by them that this was standard practice. Went away thinking "great no more PPi and £50 a month better off"
After I looked on here and done some diggin and phoned FSA I realised we'd been conned by HSBC.
Got in touch with HSBC in Nov 2009, queried why "new" loan had to be taken out, why there was a difference between old and new loan, and more importantly WHERE WAS OUR PPI REFUND?
Couldn't answer questions and when we stated FSA guidelines still couldn't answer. Asked about PPI refund and told "you didn't ask for it so you never got it repaid" Bloody cheek! Told to put complaint in writing to HSBC and they would respond within 8 weeks.
Jan 2010: No response from HSBC so off to FOS we went. Sent all docs off etc and HSBC relied 3 weeks later with offer for £500.00. We rejected. More documents off to FOS another offer from HSBC. This time £1500.00. Offer rejected agin!
Finally in June 2010 ANOTHER OFFER from HSBC. £3500.00. Better but they still refused to restructure the loan to FSA guidelines. All offers made were done before the FOS had fully completed their investigation. Told FOS to continue fully with investigation.
Aug 3rd 2010: FOS phoned and said they have found in OUR FAVOUR! Now got to wait 21 days for HSBC to respond to FOS to reject or accept their findings. If they accept we shall be getting:
1) Full PPI refund plus interest at 8%
2) A refund of an early settlement fee (didn't even know we got charged one, evidently £1300.00)
3) Restructure of loan as if PPI had never been sold
4) Repayment of the higher loan payments (£550.00) + interest
5) Possibility of COMPENSATION under FOS guidelines stating if HSBC knew or should have know that FOS would uphold our complaint.

If they reject it will got to THE ombusdman himself to make it final!
Will let you all know what happens.
This goes to show the fight we have had with HSBC and how they prey on unsuspecting consumers.
HSBC, WE WILL WIN!

Hello there

And Wow, well done for keeping up the fight with this.:T:beer::j
I just hope they sort this out for you now and pay out soon.

If this is ignored then as you know its moved on to the ombudsman, and for the distress and inconvenience this have caused, you should also be awarded further redress for this.

Will keep a look out for your posts, fingers crossed.;)

amersall

hlegs wrote: »

Had taken a loan out in 2003 with Alliance & Leicester, had to take PPI as wouldn't give me loan without.

Wrote to them 29th June for a copy of loan application, which arrived about 2 weeks later.

Emailed them Monday 19th July (thanks Halphy for email address) & with loan info & stating had to take PPI or no loan & that this shouldn't have happened.

Letter today saying they are unable to establish if I was provided with sufficient details to allow me to make an informed decision when the policy was taken out etc.

Also, when I paid the loan off a few months before due, PPI rebate was used to reduce amount remaining on the loan but apparently was not proportionate to the remaining term (£120 of a difference!:eek:even more glad I reclaimed now!)

Have made me an offer -
premiums paid on the policy + rebate adjustment +8% interest
total of £1590

I am over the moon! :j Supposed to get cheque 2 weeks after offer acceptance - hopefully this is the case! Let you know how long it takes.

:TBig thank you to all the MSE posts - so helpful - especially halphy & amersall.

Have a few more PPI/charges to chase now. Finger crossed.

Well done that is good news:T:T:T:T glad to have been of help:Dcongrats :money:

amersall

middlplay wrote: »

HSBC loan with PPI taken out in 2003.
Hi guys, a bit new to this so bear with me. It's complicated.
My husband took a loan out with PPI. Read this website and realised the PPi wsa mis-sold so asked HSBC for a refund in Jan 2008. Originally got told by customer services we could have it removed, but we had to have a credit check. Due to the "economic climate" we failed so told couldn't have it removed.
Had appointment booked within the branch where the loan was sold in Feb 2009 and told they'd remove it. Got to appointment only to be told a credit check was necessary! Failed again!
Read up on the law etc (thanks martin) and wrote final letter in May 2009 to tell themto remove it or we would go to FOS
Got response and had it removed (finally) in July 2009. This took another threatening letter though and the cancellation of the loan repayment direct debit for them to act on it.
When it was removed loan was not restructured to original amount. Told this becuase of the top heavy interest it would make payments a little higher than the original by £45 a month! Believed what we were being told and accepted. They had to "Close" the original loan to "open" a new loan without PPI. Again we were fobbed off by them that this was standard practice. Went away thinking "great no more PPi and £50 a month better off"
After I looked on here and done some diggin and phoned FSA I realised we'd been conned by HSBC.
Got in touch with HSBC in Nov 2009, queried why "new" loan had to be taken out, why there was a difference between old and new loan, and more importantly WHERE WAS OUR PPI REFUND?
Couldn't answer questions and when we stated FSA guidelines still couldn't answer. Asked about PPI refund and told "you didn't ask for it so you never got it repaid" Bloody cheek! Told to put complaint in writing to HSBC and they would respond within 8 weeks.
Jan 2010: No response from HSBC so off to FOS we went. Sent all docs off etc and HSBC relied 3 weeks later with offer for £500.00. We rejected. More documents off to FOS another offer from HSBC. This time £1500.00. Offer rejected agin!
Finally in June 2010 ANOTHER OFFER from HSBC. £3500.00. Better but they still refused to restructure the loan to FSA guidelines. All offers made were done before the FOS had fully completed their investigation. Told FOS to continue fully with investigation.
Aug 3rd 2010: FOS phoned and said they have found in OUR FAVOUR! Now got to wait 21 days for HSBC to respond to FOS to reject or accept their findings. If they accept we shall be getting:
1) Full PPI refund plus interest at 8%
2) A refund of an early settlement fee (didn't even know we got charged one, evidently £1300.00)
3) Restructure of loan as if PPI had never been sold
4) Repayment of the higher loan payments (£550.00) + interest
5) Possibility of COMPENSATION under FOS guidelines stating if HSBC knew or should have know that FOS would uphold our complaint.

If they reject it will got to THE ombusdman himself to make it final!
Will let you all know what happens.
This goes to show the fight we have had with HSBC and how they prey on unsuspecting consumers.
HSBC, WE WILL WIN!

Well done to you :T and for sticking with this :beer:
I always advocate not to cancel the insurance if the bank wants to redo another loan, this is where they get more money out of you. It is better financially to win mis sell.

jonnyharb1

Hi,

im new to this and would like some advice?

i have an egg loan for last 4ish years, with payment protection on it, i applyed online when i had it,

would i be entitled to get anything back?

also have lloydstb credit card, dating back around 5 years ago, but i cancelled the PPI on it around 2 years back, could i claim back the 3 years i had it originally?

thanks in advance

Jon

Sdstew

Great News,

Just had a letter from N Rock stating the are up holding my complaint and going to refund me £1636 of miss sold PPI. I can not believe how easy that was, just 1 letter.

I have also recieved a letter from Santander Cards with all my passed statements. The letter just says hope these help? Not sure what that means? No mention of a refund? Has anyone else had the same sort of response? If so what did you do? I guess send another letter saying i want to claim the PPI back?

Many thanks to Martin and his team. 1 down 4 to go!!!

Sdstew