PPI Reclaiming successes and failures

KPB

Hi

I'm hoping someone may be able to help, I've suddenly starting getting a couple of companies ringing me about re-claiming PPI and I'm not even sure if I have a claim.

I have two loans with PPI with LloydsTSB and Nationwide, I've never had to claim on either and the only reason I can think of that maybe a case to claim is that both myself and my husband get paid by our employers if on sick.

Can anyone tell me if its worth trying and if so 'what do I say'

Thanks

di3004

KPB wrote: »

Hi

I'm hoping someone may be able to help, I've suddenly starting getting a couple of companies ringing me about re-claiming PPI and I'm not even sure if I have a claim.

I have two loans with PPI with LloydsTSB and Nationwide, I've never had to claim on either and the only reason I can think of that maybe a case to claim is that both myself and my husband get paid by our employers if on sick.

Can anyone tell me if its worth trying and if so 'what do I say'

Thanks

Hi and welcome

Many have received calls from claim companies, but I would be very careful with using them, lots on here have had problems and waiting even 2 years or so down the line.

I think its good that you both have protection by your employer and it may be pointless having this policy on the go as well.

What I would do though is also check the link below for more info, there is a checklist of reasons for mis selling and anything that applies to you then give it a go.

If you then need any help just ask, this site is all free, where claims companies will obviously make a charge.


Link here to more details.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

The procedures of reclaiming are also on the above link, follow this, and if your going to make a reclaim, you will notice further down the page a questionnaire - stage one, these were recently issued by the Financial ombudsman service (FOS) and in replacement of the first reclaiming template letter.
Complete and send to whoever was responsible for setting up the policy, and its also recommended by the FOS to keep a copy in case you need to refer to it later on.
They have 8 weeks in full to respond.

I would also post by recorded delivery - this is your proof of posting.

Oh and it does not matter if the account is settled or active.

Good luck.;)

smithy1976

Hi

Following from a previous post, where lloyds gave me incorrect figures for settlment over the phone, paid me that, then noticed they calculated wrong ( but agreed due to them telling me it was my money) agreed to not reclaim the difference ( £1350) then then still went and paid me the lower amount.. best bit. they have since sent me 2 letters confirming they wont pursue any overpayent for the loan, as the letter dated after the paid me again. I woudnt thought they have a leg to stand on to ask for it back.. ( i wont spend it just yet)

Alos does anyone know how long the ombudsman taking now with complaints, i had heard they took on more staff to get through complaints quicker. I sent mine 1 may

cheers

di3004

smithy1976 wrote: »

Hi

Following from a previous post, where lloyds gave me incorrect figures for settlment over the phone, paid me that, then noticed they calculated wrong ( but agreed due to them telling me it was my money) agreed to not reclaim the difference ( £1350) then then still went and paid me the lower amount.. best bit. they have since sent me 2 letters confirming they wont pursue any overpayent for the loan, as the letter dated after the paid me again. I woudnt thought they have a leg to stand on to ask for it back.. ( i wont spend it just yet)

Alos does anyone know how long the ombudsman taking now with complaints, i had heard they took on more staff to get through complaints quicker. I sent mine 1 may

cheers

Hi there

They have not got a clue what they are doing, my son who has special needs would do better than them lol.

With the FOS I am aware they are trying to deal with complaints as soon as its possible, the longest part is the waiting to be passed on to an adjudicator.
But it does seem they are resolving complaints quicker than they used to and are taking on more staff all the time - to keep up with the demand.

It is difficult though to give a timescale, some though are resolved within 8 weeks of it being with an adjudicator, and if the matter gets more complexed, its possible the case will then have to be moved on to the ombudsman himself, if this is the case then normally further redress is compensated, this would be for the distress and inconvience caused.;)

KPB

Hi Di3004

Thanks for your previous advice, I've just had a chat with Nationwide about my PPI and to my dismay I've found out that it is only me that is covered on the insurance and not both of us or even just my husband which is unbelievable because I only work part-time and my husband is the main earner, I don't earn much more a month then the monthly payment of the loan itself so would this be grounds for a claim although they did state we could change this over to my husband if we wished.

amersall

KPB wrote: »

Hi

I'm hoping someone may be able to help, I've suddenly starting getting a couple of companies ringing me about re-claiming PPI and I'm not even sure if I have a claim.

I have two loans with PPI with LloydsTSB and Nationwide, I've never had to claim on either and the only reason I can think of that maybe a case to claim is that both myself and my husband get paid by our employers if on sick.

Can anyone tell me if its worth trying and if so 'what do I say'

Thanks

Hi there, as you and your hubby get pay from work when you are off, and i assume you have life cover? they are reasons for mis sell.Do as di says and you go for it .You will get all the help you need on this site for free, so dont give tha claims co a job that you can do for your self, and you will not lose 25% plus vat of your win x

di3004

KPB wrote: »

Hi Di3004

Thanks for your previous advice, I've just had a chat with Nationwide about my PPI and to my dismay I've found out that it is only me that is covered on the insurance and not both of us or even just my husband which is unbelievable because I only work part-time and my husband is the main earner, I don't earn much more a month then the monthly payment of the loan itself so would this be grounds for a claim although they did state we could change this over to my husband if we wished.

Your most welcome KPB,

You certainly do have good reasons here, go for it, and at the end of the day you have already been paying for it and its been worthless to you, and you have been out of pocket too.
Good luck.;)

halphy

Success! Finally from Loans.co.uk.

Long 6 weeks wait waiting for settlement figureas, well recieved letter today offering figure of £2656.29, includes refund of PPI plus interest paid on premium £376.09 and 8% 180.20. The 8% seems low? how do they work it out?

Im happy with refund, just A&L gave me more and that policy was less?

di3004

halphy wrote: »

Success! Finally from Loans.co.uk.

Long 6 weeks wait waiting for settlement figureas, well recieved letter today offering figure of £2656.29, includes refund of PPI plus interest paid on premium £376.09 and 8% 180.20. The 8% seems low? how do they work it out?

Im happy with refund, just A&L gave me more and that policy was less?

Wow, Well done Halphy, :T:j Congratulations!:beer:

Robbedofmymoney will be happy to check your calcs out for you and the interest, you may need to add a few of the details.

Again well done honey.:beer:

halphy

di3004 wrote: »

Wow, Well done Halphy, :T:j Congratulations!:beer:

Robbedofmymoney will be happy to check your calcs out for you and the interest, you may need to add a few of the details.

Again well done honey.:beer:

Thanks Di, Ill pop a post up see if he can have a look x