PPI Reclaiming successes and failures

iwonandimhappy

A few years ago I took out a substantial loan to clear all my debts. On top of this loan the bank (who shall remain nameless for legal reasons) added £5000 worth of payment protection insurance. I didn't want the insurance. I knew I could have got it cheaper else where and I'm in the position whereby if I couldn't afford to repay the loan through redundancy etc., then my parents would be able to repay the loan.



I told the sales advisor that I did not want PPI. She said that due to the size of my loan, I had to have their insurance. I told her again I didn't want it and my parents would be able to pay it off if I couldn't, she said that unless I took out their PPI, then my loan would not be approved. There was no way another bank would lend me the amount of money I wanted at the rate of interest I was offered so I took out the PPI. I didn't think I had a choice.


A couple of years later, a friend said she was mis-sold PPI and it got me thinking. I wrote to my bank and they offered me £750 as a goodwill gesture. I declined their offer and said I wanted the full amount of the PPI rebating to my loan account. They once again declined so I went to the FSO.


My case had been going through the FSO for a year when I got fed up of waiting because they had a huge backlog. I decided to take the bank to court myself. I wrote to them telling them they had 14 days to settle my claim or I will be filing a claim in my local county court. I didn't hear from them so I filed my claim and sent the bank a copy.


I then get a letter from their solicitors telling me that they are not prepared to settle this amount and they deny the claim on the basis that I signed a form to state the PPI had been explained fully to me. They said that if this goes to court then I will be liable for their costs if I lose amounting to approximately £16,000. I responded to them and said that I signed the form because the loan was explained to me as being conditional unless I took out PPI. I explained that had it not have been compulsory, I wouldn't have taken it out. Who on earth would willingly increase their debt by £5000 I said? Along with this letter, I also enclosed the second part of my court form which stated I wish to proceed. I was really quite terrified of doing this because what if I lost the case? I wasn't even legally represented. But I knew I was mis-sold the PPI and it was worth the risk. I wasn't doing this to get out of paying my loan. The PPI was genuinely mis-sold to me. I didn't hear back from them.


I then get a letter from court saying that legally I have to try to settle this matter before a hearing is scheduled. I wrote once again to the banks solicitors and told them I wished to settle. And I wanted the full PPI amount.


I then got a letter from the solicitor saying that they would settle but on four conditions. I have to continue to pay the rest of my loan, I have to cancel action with the FSO and I had to agree that the matter was closed and this is purely a goodwill gesture, they are not admitting responsibility. The fourth condition being I was not able to disclose the terms of the settlement or name the bank to anyone.


I replied to them saying that I would accept all conditions points 1 to 4, if they also refund me my court costs to date totalling £425. Otherwise I only accept the settlement points 1 to 3. Rather ambiguous I thought.


So I finally got a letter from the solicitors and guess what? It worked! They agreed to settle on everything. I got my PPI rebated to my loan account and my court costs refunded. Once I received their cheque, I immediately paid off the remaining balance of my loan (although I did negotiate for a lesser settlement figure and the nice lady on the phone knocked a grand off!) and I closed my account with them.


Funnily enough though, the cheque I received came from a “PPI Settlement” account. Which means that this bank has their own account just for paying PPI claims. Thieves, the lot of them! It's a shame that I can't name them but what I will say is that it is a big bank and there's lots of stories about the same thing on this site. I just had the courage to take them on myself and I'm glad I did.


I hope that this post gives people the courage they need to take on the banks.

Millerfun

Hi there, the help and advice on this website has resulted in me winning my PPI reclaim from Alliance and Leicester! SO THANK YOU!!! :beer::money:

I submitted a claim against A & L a couple of months ago using the template letter on this site. I sent it recorded delivery and when I didn't hear anything after 8 weeks I contacted them only for them to say they hadn't received it! I resent a copy of my initial complaint and within 2 weeks I have now received a letter offering me £1050 which is the full amount that I have paid over the last 3 years, I only have 9 months of my loan left. I took out the loan and PPI in May 2007 over the phone and it was indicated that unless I took the PPI I wouldn't get the loan! I read on this website that if you took out a loan by phone from A & L during this period I should definately submit a complaint...............I'm very pleased I did!!! I now have to return a signed acceptance and apparently within 2 weeks it will be in my account!!! :T

THANK YOU SO MUCH AND GOOD LUCK TO ALL!

Tamrin

Millerfun wrote: »

Hi there, the help and advice on this website has resulted in me winning my PPI reclaim from Alliance and Leicester! SO THANK YOU!!! :beer::money:

I submitted a claim against A & L a couple of months ago using the template letter on this site. I sent it recorded delivery and when I didn't hear anything after 8 weeks I contacted them only for them to say they hadn't received it! I resent a copy of my initial complaint and within 2 weeks I have now received a letter offering me £1050 which is the full amount that I have paid over the last 3 years, I only have 9 months of my loan left. I took out the loan and PPI in May 2007 over the phone and it was indicated that unless I took the PPI I wouldn't get the loan! I read on this website that if you took out a loan by phone from A & L during this period I should definately submit a complaint...............I'm very pleased I did!!! I now have to return a signed acceptance and apparently within 2 weeks it will be in my account!!! :T

THANK YOU SO MUCH AND GOOD LUCK TO ALL!

It will be I received my cheque this morning after just three weeks:beer: Thanks to all on this site:T

di3004

iwonandimhappy wrote: »

A few years ago I took out a substantial loan to clear all my debts. On top of this loan the bank (who shall remain nameless for legal reasons) added £5000 worth of payment protection insurance. I didn't want the insurance. I knew I could have got it cheaper else where and I'm in the position whereby if I couldn't afford to repay the loan through redundancy etc., then my parents would be able to repay the loan.



I told the sales advisor that I did not want PPI. She said that due to the size of my loan, I had to have their insurance. I told her again I didn't want it and my parents would be able to pay it off if I couldn't, she said that unless I took out their PPI, then my loan would not be approved. There was no way another bank would lend me the amount of money I wanted at the rate of interest I was offered so I took out the PPI. I didn't think I had a choice.


A couple of years later, a friend said she was mis-sold PPI and it got me thinking. I wrote to my bank and they offered me £750 as a goodwill gesture. I declined their offer and said I wanted the full amount of the PPI rebating to my loan account. They once again declined so I went to the FSO.


My case had been going through the FSO for a year when I got fed up of waiting because they had a huge backlog. I decided to take the bank to court myself. I wrote to them telling them they had 14 days to settle my claim or I will be filing a claim in my local county court. I didn't hear from them so I filed my claim and sent the bank a copy.


I then get a letter from their solicitors telling me that they are not prepared to settle this amount and they deny the claim on the basis that I signed a form to state the PPI had been explained fully to me. They said that if this goes to court then I will be liable for their costs if I lose amounting to approximately £16,000. I responded to them and said that I signed the form because the loan was explained to me as being conditional unless I took out PPI. I explained that had it not have been compulsory, I wouldn't have taken it out. Who on earth would willingly increase their debt by £5000 I said? Along with this letter, I also enclosed the second part of my court form which stated I wish to proceed. I was really quite terrified of doing this because what if I lost the case? I wasn't even legally represented. But I knew I was mis-sold the PPI and it was worth the risk. I wasn't doing this to get out of paying my loan. The PPI was genuinely mis-sold to me. I didn't hear back from them.


I then get a letter from court saying that legally I have to try to settle this matter before a hearing is scheduled. I wrote once again to the banks solicitors and told them I wished to settle. And I wanted the full PPI amount.


I then got a letter from the solicitor saying that they would settle but on four conditions. I have to continue to pay the rest of my loan, I have to cancel action with the FSO and I had to agree that the matter was closed and this is purely a goodwill gesture, they are not admitting responsibility. The fourth condition being I was not able to disclose the terms of the settlement or name the bank to anyone.


I replied to them saying that I would accept all conditions points 1 to 4, if they also refund me my court costs to date totalling £425. Otherwise I only accept the settlement points 1 to 3. Rather ambiguous I thought.


So I finally got a letter from the solicitors and guess what? It worked! They agreed to settle on everything. I got my PPI rebated to my loan account and my court costs refunded. Once I received their cheque, I immediately paid off the remaining balance of my loan (although I did negotiate for a lesser settlement figure and the nice lady on the phone knocked a grand off!) and I closed my account with them.


Funnily enough though, the cheque I received came from a “PPI Settlement” account. Which means that this bank has their own account just for paying PPI claims. Thieves, the lot of them! It's a shame that I can't name them but what I will say is that it is a big bank and there's lots of stories about the same thing on this site. I just had the courage to take them on myself and I'm glad I did.


I hope that this post gives people the courage they need to take on the banks.

Well done and Congratulations!:T:beer::j

Great work here!:D:beer:

di3004

Millerfun wrote: »

Hi there, the help and advice on this website has resulted in me winning my PPI reclaim from Alliance and Leicester! SO THANK YOU!!! :beer::money:

I submitted a claim against A & L a couple of months ago using the template letter on this site. I sent it recorded delivery and when I didn't hear anything after 8 weeks I contacted them only for them to say they hadn't received it! I resent a copy of my initial complaint and within 2 weeks I have now received a letter offering me £1050 which is the full amount that I have paid over the last 3 years, I only have 9 months of my loan left. I took out the loan and PPI in May 2007 over the phone and it was indicated that unless I took the PPI I wouldn't get the loan! I read on this website that if you took out a loan by phone from A & L during this period I should definately submit a complaint...............I'm very pleased I did!!! I now have to return a signed acceptance and apparently within 2 weeks it will be in my account!!! :T

THANK YOU SO MUCH AND GOOD LUCK TO ALL!

Fantastic :T:j well done and Congratulations!:beer:

And your very welcome.;)

gil8967

What were you reclaiming: Payment Protection Insurance
Who was the provider: Clydesdale Bank
How much did you get back: £8446.00
:money:
:money:
Hi to all,:):):)

Just wanted to let you know that my Payment Protection Insurance was refunded into my account today, plus interest total of £8446. I am so grateful to all on this site who inspired me to do this. :A:T:T A REALLY BIG THANK YOU TO DI who helped me with well, EVERYTHING!!

For all you people wondering if you can do it yourself then just go for it. It is so easy to do and whenever you need help you will always find it on this site. There are lots of wonderful people who know EVERYTHING!!:T:T:T:T

THANK YOU AGAIN,

Gil8967

di3004

gil8967 wrote: »

What were you reclaiming: Payment Protection Insurance
Who was the provider: Clydesdale Bank
How much did you get back: £8446.00
:money:
:money:
Hi to all,:):):)

Just wanted to let you know that my Payment Protection Insurance was refunded into my account today, plus interest total of £8446. I am so grateful to all on this site who inspired me to do this. :A:T:T A REALLY BIG THANK YOU TO DI who helped me with well, EVERYTHING!!

For all you people wondering if you can do it yourself then just go for it. It is so easy to do and whenever you need help you will always find it on this site. There are lots of wonderful people who know EVERYTHING!!:T:T:T:T

THANK YOU AGAIN,

Gil8967

That is wonderful, :T:j:beer:, some money there, well done to you and Many Congratulations!:beer:

Its my pleasure.:A XXX

gil8967

Originally Posted by gil8967
What were you reclaiming: Payment Protection Insurance
Who was the provider: Clydesdale Bank
How much did you get back: £8446.00
:money:
:money:
Hi to all,:):):)

Just wanted to let you know that my Payment Protection Insurance was refunded into my account today, plus interest total of £8446. I am so grateful to all on this site who inspired me to do this. :A:T:T A REALLY BIG THANK YOU TO DI who helped me with well, EVERYTHING!!

For all you people wondering if you can do it yourself then just go for it. It is so easy to do and whenever you need help you will always find it on this site. There are lots of wonderful people who know EVERYTHING!!:T:T:T:T

THANK YOU AGAIN,

Gil8967
That is wonderful, :T:j:beer:, some money there, well done to you and Many Congratulations!:beer:

Its my pleasure.:A XXX

Thank You,

This is my second refund, the 1st was PPI with RBS for £1632. I am waiting on the payment for my final PPI which should be paid out just shortly. That will be roughly another £2000. But this was the Big One!! I really can't thank you enough:o:A.:beer: Gill

di3004

gil8967 wrote: »

Originally Posted by gil8967
What were you reclaiming: Payment Protection Insurance
Who was the provider: Clydesdale Bank
How much did you get back: £8446.00
:money:
:money:
Hi to all,:):):)

Just wanted to let you know that my Payment Protection Insurance was refunded into my account today, plus interest total of £8446. I am so grateful to all on this site who inspired me to do this. :A:T:T A REALLY BIG THANK YOU TO DI who helped me with well, EVERYTHING!!

For all you people wondering if you can do it yourself then just go for it. It is so easy to do and whenever you need help you will always find it on this site. There are lots of wonderful people who know EVERYTHING!!:T:T:T:T

THANK YOU AGAIN,

Gil8967
That is wonderful, :T:j:beer:, some money there, well done to you and Many Congratulations!:beer:

Its my pleasure.:A XXX

Thank You,

This is my second refund, the 1st was PPI with RBS for £1632. I am waiting on the payment for my final PPI which should be paid out just shortly. That will be roughly another £2000. But this was the Big One!! I really can't thank you enough:o:A.:beer: Gill

Its absolutely fantastic Gill, you deserve this very much and remember to treat yourself as well.:A

Bless you. XXXXX:beer:

theflowerpotman

Congratulations Gill and to all who succeed!

I am having an interesting time with Barclays at the moment, and would be grateful for any suggestions for next move. In brief, wrote using free forms in mid July reclaiming credit card PPI. They replied very quickly (17th July) cancelling PPI and said we would hear from them soon. Another letter 9th August saying cannot provide full rsponse at present. Then the great line "I remain committed to resolving this as quickly as possible and I will contact you again by 7th September 2010". Thank goodness they were acting as quickly as possible...needless to say, I have heard nothing. What do I do now?

Many thanks for any comments