PPI Reclaiming successes and failures

catinthehat1

RoyBoy1983 wrote: »

Just thought I'd update on my current situation.

First Letter sent on 11th August 2008 (reply received 19th August)

Phoned up a couple of time to see where they were with this both time just got told the information is still being gathered (what more do they need it's all on the letter I sent)

Email chaser sent on the 2nd Sept (aknowledged 3rd Sept, still awaiting reply!)

This is a totally daft question but I just wanted to make sure that this is valid for active policies?

Cheers,

Roy

Hi Roy - I'm chasing FirstPlus for PPI - all with FOS now, my loan is still active and will be for another God knows how many years!!! Unless I win the lottery!!!:rotfl:

angelwillow

Confused but happy at the same time...........

I have several complaints with FO since March/April time which are still awaiting allocation. But I got a letter from FO today regarding by PPI on HBOS loan which was sent at the beginning of August!
Anyway I have been offered the following -

Refund the balance of your ppi premiums plus interest back to your loan.
Arrange a new loan for the remaining outstanding debt,without insurance,over the remaining term using the same APR.
Refund any overpayments,equivalent to the ppi element plus interest charged each month to you directly.
Pay credit interest at 8% simple.

I'm still paying the loan and it is unfortunately with debt collectors but it still means my debt will be getting reduced (don't know by how much as yet tho).

So success at debt reduction if not cash in hand - thanks to all for the help and fingers crossed for the other claims!

RickMave

I would like to say a big thank you to MSE - I just got notification that we've won our PPI case hands down! I just have to sign the ombudsmans form and the arrangement is closed.

We've been in discussion with HSBC about our PPI for a year now. They weren't playing ball and came out with the usual excuses about us having been told at the outset etc, so we took the case up with the ombudsman.

Loan was taken out for £15K early in 2005. HSBC added PPI insurance costing just over £60 a month - taking the total "loan" over the period to over £20K by the time we had paid the loan and PPI off.

To be honest I didn't use an MSE form letter, I just read all I could on the MSE site and structured my own case to the ombudsman, including all of the facts relating to our belief we had been mis-sold.

HSBC have just accepted the ombudsmans decision. They have to pay back all premiums paid from the outset, plus interest of 8%. Total refunded to us will be of the order £2,500.

Feeling very pleased with this result. My wife thought I was wasting my time, but encouraged by the success stories at MSE I stuck to it. I would encourage others to reclaim PPI if they feel they may have been misled.

HSBC must be feeling pretty p'd off with MSE because my wife and I had been banking with HSBC for over 30 years. In August last year we switched all of our accounts to Alliance and Leicester, again thanks to MSE. HSBC lost thousands of pounds worth of business with us each month because they treated us like dirt. We had an HSBC overdraft which we were gradually paying off in our own time (we have an exemplary credit record and have never missed a payment on anything in 30+ years) however their business department got heavy about the overdraft and demanded we pay more each month. So we shifted that debt to credit cards offering good balance transfers and closed our HSBC accounts. Today we've paid off those credit cards, HSBC lost a good customer, Alliance and Leicester can't do enough to help us, and it's all the fault of MSE! We have literally reconfigured our financial arrangements over the last 12 months.

Well done MSE, you've done this user a big favour and I congratulate you on making this happen.:T

RM

egretton

I would like to claim PPI back on a number of loansI had with LLoydstsb. I do not know the policy numbers or have the original paperwork does anyone know if I can find out anyway or if I need the paperwork to make a claim. Thanks.

catinthehat1

jackbown wrote: »

I have been trying to reclaim ppi from a loan with hfc i took out in 2002 and stopped paying said loan injan 08 as i believe they owe me more than i owe them. i have just refered it to the fos. but have recieved a stat demand leading to insolvency. and a bill including an extra 2k of cost ... help should i set up a payment plan with them or fight it and risk bankrupcy .. p.s. with the payment plan it would include an extra 2k and also they want to put a interst on my house..

help pplease asap.

Hi Jackbown - can you put this post on the discussion board (if you havent already) there are lots of people who would be able to advise you - good luck

catinthehat1

egretton wrote: »

I would like to claim PPI back on a number of loansI had with LLoydstsb. I do not know the policy numbers or have the original paperwork does anyone know if I can find out anyway or if I need the paperwork to make a claim. Thanks.

Can you put this post on the discussion board as there are others who will be able to help you - good luck

Missy1111.2007

Had a loan with Halifax for £12000- only found out that £2400 was for ppi by chance, the added it and i didn't have a clue, have been paying this loan off for years now!!

Sent them a letter(from this site)advising i have no idea about this and that i would like a refund +interest +8% interest, they wrote back and said they would refund the whole amount no quibble- Result....

However, because my account is still in arrears, instead of giving it back to me like they said they would (in their letter they said 'without any admission to liability, we will put you back in the same position had you not taken the loan out in the first place)they also agreed to pay the interest which was £800 and then on top of this they would also refund 8% interest as per FOS rules. I was so happy about this, it could not have come at a better time either as i need to move out so it would be a deposit on a flat!!

However, without advising me, they decided to deducted this off the balance i still owed them! The cheek-I spoke to the FSO and they advised that they could not do this and that it was ultimately up to me how i would choose to use the money.

I have now sent them another email to ask them to put it right and refund me via cheque or put the balance into my bank account.

That money would be really helpful so i am going to push for this. Surely they can not just reduce the balance?? Can they?? Without consulting me??

Have now got the MD's email address hehe!! Let me know if anyone wants it... I find it usually helps if you go to the top dog in the first instance, rather than speaking to different monkeys...lol. You get a really quick response too..

jingle68

What were you reclaiming: PPI on £5000 car loan

Who was the provider: Alliance & LeicesterHow much did you get back: £920.00

Did you get it back after a letter or did you go to the Financial Ombudsman:

2 weeks after sending letter using template from this site !!!

THANKS MARTIN :beer:

Busta_3

Missy1111.2007 wrote: »

Had a loan with Halifax for £12000- only found out that £2400 was for ppi by chance, the added it and i didn't have a clue, have been paying this loan off for years now!!

Sent them a letter(from this site)advising i have no idea about this and that i would like a refund +interest +8% interest, they wrote back and said they would refund the whole amount no quibble- Result....

However, because my account is still in arrears, instead of giving it back to me like they said they would (in their letter they said 'without any admission to liability, we will put you back in the same position had you not taken the loan out in the first place)they also agreed to pay the interest which was £800 and then on top of this they would also refund 8% interest as per FOS rules. I was so happy about this, it could not have come at a better time either as i need to move out so it would be a deposit on a flat!!

However, without advising me, they decided to deducted this off the balance i still owed them! The cheek-I spoke to the FSO and they advised that they could not do this and that it was ultimately up to me how i would choose to use the money.

I have now sent them another email to ask them to put it right and refund me via cheque or put the balance into my bank account.

That money would be really helpful so i am going to push for this. Surely they can not just reduce the balance?? Can they?? Without consulting me??

Have now got the MD's email address hehe!! Let me know if anyone wants it... I find it usually helps if you go to the top dog in the first instance, rather than speaking to different monkeys...lol. You get a really quick response too..

Hello
yea i spoke to halifax and they advised me that any refunds can go straight unto the outstanding balance, the only thing though is that they cannot use payments from another loan to pay unto another, if you understand me, but interesting that the ombudsman thought different.

I am in teh process of waiting for calculations, so ill let you know how it goes.

would like the MDs email please just incase;-)

supermo1980

i managed to claim back all ppi from a loan with bank of scotland. i wrote to them first, they said no, of course. i then wrote to the ombudsman and after about 6 months, halifax / bank of scotland 'agreed to repay all ppi with without admitting liability'. i don't care about liability - just very glad to get my money back! would never have thought to reclaim without Martin's advice - thanks!! have now told my sister to do the same after she had 2 seperate loans with ppi and was told she could not get a loan on her credit rating without it!!! the cheek!!