PPI Reclaiming successes and failures

di3004

CJ53 wrote: »

So far Egg£2500, Coop £3300 and £1200, Barclaycard £1800 - thanks to all at MSE and the "Templates!!:j

Failures -rejection from Citibank and Aqua ( actually Halifax ) on the grounds that I ticked a box - is there any comeback? Is it worth trying the FOS on these two?

My real problem is a car loan with Welcome Finance, which was arranged by ACF a car sales franchise ( I argued that the car sales person had no financial beckground / told it was compulsory )- been through rejection, went to FOS, who have just replied that at the time of sale(2002) neither were regulated by the FSA - however, the loan was not paid off until October 2006, so wondering if I should ask FOS for an investigation?:(

Hi there

Well done on your successes:T:beer::j

As Dee stated, she was unable to go any further with her's, but the awful thing about it was dee was actually awarded the refund, and accepted and then they suddenly changed their minds, due to time barring. This was really bad indeed.

Now this will apply to both yourself and Dee, this have just came back to me, but if your unable to deal with a company due to this reason, it maybe a case of pursuing the underwriter/insurer of the loan company instead.
One of mine were not covered by the FSA, so the FOS are unable to investigate due to this reason, and of course all these time limits seem to be suddenly a problem as well now.

The FOS have suggested to people because of this reason to go the direction of the insurer/underwriter instead, cos these would have been governed by the FSA, so its just a thought, if there is no other way to go, is to contact the FOS, (dee sorry I should have thought about this earlier - and i understand they did not mention this at the time), but the FOS are actually dealing with mine through an insurer and many others on here, with mine though its cos the business were not governed at the time of when i taken the loan out.

So it could be worth contacting the FOS and mention this.
http://www.financial-ombudsman.org.uk/contact/index.html

Good luck to both.

di3004

rowls wrote: »

has anyone had any dealings with Nemo finance ? we took out various loans secured on our property & still have one running at present for £48,000 :mad: yes wow!!!
This has PPI on it totalling the loan upto approx £64,000 , the cover is only for 5 years but the loan is for 25 years !!
We are going through a company called EMC to try and reclaim our PPI .
Could anyone say whether they have been successful against Nemo or with EMC ...

Thanks

Hi there

Sorry was going to add more to my above post.

Its very hefty isn't it, and I bet you were presssurised into taking the ppi out? That's nemo for you.

I would give it a go with your reasons, by either writing a letter in your own words, because the first template letter was replaced by a PPI reclaiming questionnaire on this site, you can use that if you want to.

If you write a letter, then just request they refund you all you have paid in PPI, plus interest.

Give your reasons on why your reclaming, obviously with just being sold these rip off costly single policies are a reclaim in itself, because you will still be paying for the ppi for the life of the loan, yet it stops at 5 years, and these policies are frowned upon, very costly indeed.

Then state that you expect to receive a response by 8 weeks.

Then confirm if you do not receive a favourable decision, then you will consider taking the matter further to retrieve your PPI.
For instance the courts or the Financial ombudsman service (FOS).

If you decide to want to complete the questionnaire, then send to whoever sold you the policy, remember to keep a copy in case you need to refer to it at some point, and as usual they have 8 weeks.
However, they may ask for more time, that is okay, just as long as you know where you are.

You will find the questionnaire on link below, further down the page as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

(Not to get this questionnaire confused with FOS complaints form).;)

If you can also manage to post by recorded delivery as well, this is your proof of posting.

Good luck, please let us know how you get on.
Cheers.

MattyA

Hi all.
Just finished sifting through & collating all my old statements & charges for PPI which amount to £258K !!! - Jesus
This figure is made up of PPI charged + interest charged by CC provider + 8% simple interestI have the majority of the statments goig back to 1997 in some cases.
....Am I on the right lines? - dont want to screw this up.
All advice greatley appreciated.

di3004

MattyA wrote: »

Hi all.
Just finished sifting through & collating all my old statements & charges for PPI which amount to £258K !!! - Jesus
This figure is made up of PPI charged + interest charged by CC provider + 8% simple interestI have the majority of the statments goig back to 1997 in some cases.
....Am I on the right lines? - dont want to screw this up.
All advice greatley appreciated.

Hi Matty, yep that is fine.

So I take it that you still have all the paperwork/statements going back to that date then?

That would be good, cos some will only refund the last 6 years, because they state they don't hold any data going back any earlier than that, so at least if you have these you can then of course send them "copies" of what you have.
It all adds up.

With your reasons for being mis sold then give it a go, there is a reclaiming questionnaire on link below, further down the page as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
You can use this to send to whoever mis sold and set up the policy, they have 8 weeks to give a decision - they may ask for more time, and give a timescale of when you should expect to hear from them, that is okay.
Remember to keep a copy in case you need to refer to it at some point later.

You can write a cover letter in your own words if you want to.
The questionnaire replaced the first template letter on this site.

Hope this helps, and post your letters by recorded delivery if you can, for your proof of posting, good luck.;)

MattyA

di3004 wrote: »

Hi Matty, yep that is fine.

So I take it that you still have all the paperwork/statements going back to that date then?

That would be good, cos some will only refund the last 6 years, because they state they don't hold any data going back any earlier than that, so at least if you have these you can then of course send them "copies" of what you have.
It all adds up.

With your reasons for being mis sold then give it a go, there is a reclaiming questionnaire on link below, further down the page as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
You can use this to send to whoever mis sold and set up the policy, they have 8 weeks to give a decision - they may ask for more time, and give a timescale of when you should expect to hear from them, that is okay.
Remember to keep a copy in case you need to refer to it at some point later.

You can write a cover letter in your own words if you want to.
The questionnaire replaced the first template letter on this site.

Hope this helps, and post your letters by recorded delivery if you can, for your proof of posting, good luck.;)

Thanks for the advice - yes I still have the majority of all statements going back to 1997....what a saddo I know lol

di3004

MattyA wrote: »

Thanks for the advice - yes I still have the majority of all statements going back to 1997....what a saddo I know lol

LOL no your no saddo, you can benefit from this now :T:T, good luck to you and if you need any help from here, just give us a yell.;)

unicornboy

Hi
I've not used this service before and slow with modern techno so please be patient, I am trying to reclaim from MBNA credit card PPI
I have used first template, to which they have replied after getting lost in the post,meanwhile before I received their reply I sent off second template, however their reply said that they would repay my premiums without admitting any wrongdoing, if I proved I was self employed when I took out card.
I am still now paying PPI each month.
A couple of questions, first should I cancel the PPI or does this affect my chances of getting any of it returned? 2nd how long does the fos process take on average? the amount in premiums is over 4k over 7 years, 3rd should I use calculator to work out all interest? prior to approaching fos or is that something they do, I have all statements.
Any help much appreciated

di3004

unicornboy wrote: »

Hi
I've not used this service before and slow with modern techno so please be patient, I am trying to reclaim from MBNA credit card PPI
I have used first template, to which they have replied after getting lost in the post,meanwhile before I received their reply I sent off second template, however their reply said that they would repay my premiums without admitting any wrongdoing, if I proved I was self employed when I took out card.
I am still now paying PPI each month.
A couple of questions, first should I cancel the PPI or does this affect my chances of getting any of it returned? 2nd how long does the fos process take on average? the amount in premiums is over 4k over 7 years, 3rd should I use calculator to work out all interest? prior to approaching fos or is that something they do, I have all statements.
Any help much appreciated

Hi and welcome.

So they are willing to refund you the ppi?
Have they actually done this yet?

If so then I would have thought they would have stopped the payments of ppi coming from your account.
I would check on this otherwise, but your able to cancel this at any time.

If you've anything to work out, there are a few on this site that will be happy to work out your figures, they may just require further details to work on, so please feel free to post them up.

If you make a complaint to the FOS, this can be difficult to predict a timescale.

In the earliest settlement as from when its been with the adjudicator, for example if straight forward, then about 8 weeks, and in the worse scenario, in complxed cases, 18 months or even more.
But if in hardship, let the fos know and request for fast tracking.

Well done on your success.:beer:

unicornboy

di3004 wrote: »

Hi and welcome.

So they are willing to refund you the ppi?
Have they actually done this yet?

If so then I would have thought they would have stopped the payments of ppi coming from your account.
I would check on this otherwise, but your able to cancel this at any time.

If you've anything to work out, there are a few on this site that will be happy to work out your figures, they may just require further details to work on, so please feel free to post them up.

If you make a complaint to the FOS, this can be difficult to predict a timescale.

In the earliest settlement as from when its been with the adjudicator, for example if straight forward, then about 8 weeks, and in the worse scenario, in complxed cases, 18 months or even more.
But if in hardship, let the fos know and request for fast tracking.

Well done on your success.:beer:

not exactly their words "as a courtesy and in an effort to resolve my complaint to my satisfaction,they will consider a refund of premiums if I provide proof that I was self employed when policy was activated" however prior to that they said "I confirm that even if you were self employed, you were eligible for the PPC; however, there are certain criteria that must be met in order for you to claim"
They then went on to say they had exhausted their complaint procedure and will not enter into any further correspondence regarding the matter unless instructed to do so by fos. does this mean that they will not respond to request for SAR that I've been reading about?

di3004

unicornboy wrote: »

not exactly their words "as a courtesy and in an effort to resolve my complaint to my satisfaction,they will consider a refund of premiums if I provide proof that I was self employed when policy was activated" however prior to that they said "I confirm that even if you were self employed, you were eligible for the PPC; however, there are certain criteria that must be met in order for you to claim"
They then went on to say they had exhausted their complaint procedure and will not enter into any further correspondence regarding the matter unless instructed to do so by fos. does this mean that they will not respond to request for SAR that I've been reading about?

Arh I see.
I understand that someone else was in the same position and posted up on here about a week or so ago, they were self employed and managed to contact the Inland revenue for the details for this.

They cannot stop you requesting for a SAR, you able to do this anytime.