PPI Reclaiming successes and failures

amersall

chumbler wrote: »

Martin, many thanks, I followed your advice and reclaimed almost £2000 from RBS!

I had an RBS personal loan running for several years. When I took it out, I was told that RBS Loanguard insurance was compulsory for the loan to be approved. There was no mention of alternative insurance plans, and I was also unaware how much it contributed to the monthly premium - approximately £50 a month on a £250 repayment!

I followed your standard letter template, and sent my letter recorded delivery to my local branch. After 8 weeks I heard nothing, so I contacted the bank via the RBS complaints procedure on their website, following your advice by saying that I'd contact the financial ombudsman if I didn't get a timely response. I then got a response to say they were looking into my complaint. It then went quiet for another few weeks and I had to chase a couple more times, but eventually they sent me a letter in which they admitted no liability, but offered me £2000 (the cost of the PPI) to drop the issue.

It also turns out they are so busy with this at RBS, they even have a dedicated PPI complaints/payments team!

For the time it took to write two letters and make a couple of phone calls, I have managed to pay of the remainder of my loan and start saving at the end of the month for the first time. I'd encourage anyone in a similar position to do the same - the banks are relying on people not pursuing these claims, but as you said, a massive majority of complaints that are referred to the ombudsman are settled in our favour.

Great advice,

Thanks

:money::money: congrats :j:j

amersall

Seb2000 wrote: »

What were you reclaiming: Loan PPI
Who was the provider: Northern Rock
How much did you get back: £3400
Did you get it back after a letter or did you go to the Financial Ombudsman: 1st Letter and FOS Questionaire

Took around 6 weeks. Previously got £2200 back from A & L. Not bad for £2.30 worth of stamps!!!

Advice: Keep heart and keep going. Fortune favours the brave.

:money::money::money::money::money::money::money:

:beer::beer:AB FAB :beer:

amersall

MoonwalkExpert wrote: »

What were you reclaiming: Credit Card PPI
Who was the provider: Halifax
How much did you get back: £1155
Did you get it back after a letter or did you go to the Financial Ombudsman: FOS Questionnaire

Sent FOS Questionnaire (13/9), a week later (21/9) they called me to say the complaint would be upheld and that they would calculate the refund , recieved cheque on 27th September 2010. ))

Thanks MoneySavingExpert! (And you forum peeps!)

:money: WELL DONE :beer::beer:

kristynolan

Hiya guys, not sure if im writing this in the correct thread so apologies if not!
I have been persuing a complaint about ppi charges with the natwest, i recieved a letter this morning telling me they are not in the wrong and therefore are not upholding my complaint. It does say on the letter that i can take it to the ombudsman but im just wondering is it worth it seen as though they aren't interested in what i had to say?
Any advice would be greatly appreicated x

di3004

Had some fab news in the post today, they had paid out a refund on one of the loan ppi back in April just gone and this is the letter received from Lloyds TSB.....

Dear Mr & Mrs XXXXX

Loan account (Settled loan)

Information about your loan account.

As part of our committment to providing excellent customer service, we have reviewed the Payment Protection Insurance (PPI) premium we paid you on 13 April 2010, following your complaint about the PPI linked to your loan account number:
XXXXXXXXXXX

Following this review, we have identified that an additional amount is owed to you and I enclose a cheque of a further payment of: £2,959.36.

Please accept our apologies for this mistake. If after reading the additional information on reverse of this page or you require further assistance please contact us on tel number shown between 9 am and 5pm on Monday to Friday. If at this point we are unable to resolve any ongoing problems, you will be able to contact the Financial Ombudsman service for help.

Yours sincerely

Customer Relations.

.......................................................................................

This is what is on the reverse of the letter.....

Additional information:
Who has been affected and why am I receiving a refund?
During a recent check we discovered that you had not received the correct amount of refund, following our decision to uphold your complaint about PPI on your personal loan.
We are therefore enclosing a cheque which covers the additional amount owed to you.

Why didn't you give me the correct refund before?
The initial calculation did not accurately calculate the level of refund that you were due.
We have completed a revised calculation and the additional payment is enclosed with this letter.

I have made complaints about PPI on other loan; will I receive an additional refund on these complaints?
If the initial calculation on the loan account was incorrect you will receive an additional payment under separate cover. If we do not contact you about your other complaints then the redress calculation that was previously completed is correct.

My complaint was raised via 3rd party, have they been made aware of this additional payment?
We have contacted your 3rd party under separate cover informing them of the actions that we have taken.

Do I need to take any further action?
No, all you need to do is pay your cheque into your bank.

Why have I received a Bank of Scotland cheque when my loan and insurance was with another provider?
Lloyds TSB, Halifax and Bank Of Scotland are now all part of the Lloyds Banking Group. You can pay your cheque into your account as normal.

di3004

kristynolan wrote: »

Hiya guys, not sure if im writing this in the correct thread so apologies if not!
I have been persuing a complaint about ppi charges with the natwest, i recieved a letter this morning telling me they are not in the wrong and therefore are not upholding my complaint. It does say on the letter that i can take it to the ombudsman but im just wondering is it worth it seen as though they aren't interested in what i had to say?
Any advice would be greatly appreicated x

Hi there
If they have not enclosed details of the FOS, then you are then given the opportunity to write back with further information, and request they reconsider.
Anything else you can think of in relation to your account, let them know.

Keep at them until you receive a final decision.

Good luck.;)

janey17

We had that too Di but not sure how they calculated this. Well done too x

di3004

janey17 wrote: »

We had that too Di but not sure how they calculated this. Well done too x

Thank you Janey and well done to you too.:beer:XX

Well, to be honest I did think something was amiss on the calcs of that actual refund received in April, and it was questioned but nothing more came of it, they insisted it was correct at the time.

I think now the FSA are getting involved its something they must have been told to do.;)

kristynolan

di3004 wrote: »

Hi there
If they have not enclosed details of the FOS, then you are then given the opportunity to write back with further information, and request they reconsider.
Anything else you can think of in relation to your account, let them know.

Keep at them until you receive a final decision.

Good luck.;)

Thanks for getting back to me! They did enclose the details of the FOS so i guess im gonna have to fight them but i will! :mad:

Bonnie2009

Di,

I had one of those letters today, too! Not for as much as yours, lucky you, but for £750!

Mine refers to a claim that was upheld by Lloyds - but at the time I had five upheld - do you think they are all being reviewed?

I was amazed any were reviewed at all - do you know why they were doing this?