PPI Reclaiming successes and failures

di3004

sambowrose wrote: »

from lloyds tsb today reclaim on ppi a total of 1871.21 thankyou martin lewis your amazing, didnt have to go to the fsa, lloyds paid straight out, whole process took 24 days, wahoo, thanks once again, and to everyone who help on my thread x x

Well done and Congratulations!:beer:

kenf2210

hi everyone,i looked at this ppi reclaiming on this site and said to myself lets have a go ive nothing to lose,ive got a claim with egg for ppi which was added to a credit card a few years back & it was not added by myself i phoned them up a couple of weeks ago and asked why this was added ? they gave me the date when i first recieved my card and then told me the ppi was added a week later ???? not by me i said and accused them of fraud,ive not heard anything back from them no phone call,letter or anything but the said its being investigated.my second one is hsbc bank which i took a loan with 5 years ago and had ppi included in with the loan,i went into there branch to sign for the loan and no information about ppi was explained properly,ive sent the first letter from this site a couple of weeks ago and ive spoke to the bank saying i want this ppi stopped imediately but ive noticed they have taken the same amount from my account again this month,they also said my claim is being investigated,whats my chances folks ?? and how long should i wait to contact both again ?:mad:

di3004

kenf2210 wrote: »

hi everyone,i looked at this ppi reclaiming on this site and said to myself lets have a go ive nothing to lose,ive got a claim with egg for ppi which was added to a credit card a few years back & it was not added by myself i phoned them up a couple of weeks ago and asked why this was added ? they gave me the date when i first recieved my card and then told me the ppi was added a week later ???? not by me i said and accused them of fraud,ive not heard anything back from them no phone call,letter or anything but the said its being investigated.my second one is hsbc bank which i took a loan with 5 years ago and had ppi included in with the loan,i went into there branch to sign for the loan and no information about ppi was explained properly,ive sent the first letter from this site a couple of weeks ago and ive spoke to the bank saying i want this ppi stopped imediately but ive noticed they have taken the same amount from my account again this month,they also said my claim is being investigated,whats my chances folks ?? and how long should i wait to contact both again ?:mad:

Hi and welcome

In regards of EGG, I would put your complaint into writing, give them 8 weeks to deal with it, this is standard procedure, if you hear nothing by then or a decision your not happy with then complain to the financial ombudsman service (FOS).

With HSBC, contact them again to ask them to confirm if they are dealing with this cancellation, depending how soon you requested for the cancellation, as it may have been too close to the payment due date, but check it out with them to make sure, good luck.

kenf2210

hi,i phoned egg and they said its being investigated by the proper department who deals with the complaints for ppi,so you suggest i write to them also ? they have taken a lot off me in ppi over a five year period and sounds to me they added it themselves without my consent,hsbc has my complaint i handed it in personnaly & they confirmed over the phone that its being dealt with.

di3004

kenf2210 wrote: »

hi,i phoned egg and they said its being investigated by the proper department who deals with the complaints for ppi,so you suggest i write to them also ? they have taken a lot off me in ppi over a five year period and sounds to me they added it themselves without my consent,hsbc has my complaint i handed it in personnaly & they confirmed over the phone that its being dealt with.

Hi

Its recommended that all complaints are dealt with in writing, so if this was previously verbally what you can do is write a letter to confirm that you are aware that your complaint is currently being dealt with as from (date XX/XX/XXXX) with the complaints dept and you expect to receive a decision by 8 weeks of that date.

Hope you hear from them anyway, but its just a suggestion to keep it all in writing, and keep copies of what you send and receive, this is just in case you need to complain to the FOS where you can then enclose copies of all these details.

Good luck.

sparklyjojo

Hello All,

We took out a loan with Northern Rock in July 2007. We applied online, but the loan was not approved immediately and we were told we would receive a phonecall from someone to finalise the details of the application. My husband was informed in that phonecall that if we didn't take the PPI insurance at the 'silver cover level' - the loan would not be approved. So we agreed, and my husband signed the agreement stating he wished to take out the PPI insurance.

In April of this year, after reading about the many successes of PPI reclaiming - we sent off a questionnaire template (thanks to this website) and waited patiently. We waited and waited and waited.:mad: Unfortunately due to personal reasons, life became a bit crazy and despite not receiving a response from Northern Rock (at all - not even an acknowledgement letter) we didn't chase them up about this until 2 weeks ago.

We were first told they had no history of our questionnaire - and when I told them we had sent it by recorded delivery and that the Royal Mail tracking website - electronic delivery slip showed it had been received by Northern Rock, they gave me a number for their head office. After 2 days of trying the number of the head office (which just rang and rang and was never answered) I gave up and went back to Customer Services who gave me 2 further telephone numbers to try. Luckily I go through to someone this time and she was very helpful. She said she would go and have a look at our file and see if she could find the questionnaire that we'd sent at the end of April. She came back to us within 2 mins to say she'd found it, and that they had received it at the beginning of May and that she could see that no further action had been taken and she couldn't understand why. She said it would be put to the top of the pile as an urgent case and we should receive an acknowledgement letter by the end of the week (we received it the next day) and a final decision by the end of the following week (we received it at the beginning of the week following that, but we'll let that go ).

The decision states that they are not satisfied that the sale of the PPI met with their standards of service - they are refunding the PPI in full - £1,159.00 as well as 8% interest on the premiums paid totalling £164.58. They are making this offer "without prejudice and as a gesture of goodwill" :T :money::D:rotfl::T

Couple of questions:

1) Am I right in thinking this is a great result? There are forms for us to sign to write back and accept it - but also info on how to complain to the Financial Ombudsman. This confused me slightly, as I can't see what we would be refusing? They are giving us all the money back, PLUS 8% interest? So we shoudl just accept this and be super happy, yes?!

2) My immediate instinct is to pay this money off the balance of our loan (which stands at £2580), so that we pay it off much sooner and get out of debt quicker. However my husband (the loan is in his name) would prefer to keep the money and keep paying off the loan for the next 16 months. He is out of work at the moment, and finances are tight. Can I ask people's opinion on this? Is it better to get rid of the debt quicker - and therefore limit the amount of monthly payments of £161.25 he will have to pay. OR carry on paying that amount monthly for the next 16 months, and use the money as a buffer for our day-to-day finances? It is now feesable that if we used this PPI refund, and some other savings we have, that would could complete;y repay this loan within the next couple of months. This would be my preferred option. But not my husbands! Please help! APR on the loan is 6.9%

Sorry for the mammoth post and many thanks in advance for your thoughts on the above 2 questions!!

di3004

sparklyjojo wrote: »

Hello All,

We took out a loan with Northern Rock in July 2007. We applied online, but the loan was not approved immediately and we were told we would receive a phonecall from someone to finalise the details of the application. My husband was informed in that phonecall that if we didn't take the PPI insurance at the 'silver cover level' - the loan would not be approved. So we agreed, and my husband signed the agreement stating he wished to take out the PPI insurance.

In April of this year, after reading about the many successes of PPI reclaiming - we sent off a questionnaire template (thanks to this website) and waited patiently. We waited and waited and waited.:mad: Unfortunately due to personal reasons, life became a bit crazy and despite not receiving a response from Northern Rock (at all - not even an acknowledgement letter) we didn't chase them up about this until 2 weeks ago.

We were first told they had no history of our questionnaire - and when I told them we had sent it by recorded delivery and that the Royal Mail tracking website - electronic delivery slip showed it had been received by Northern Rock, they gave me a number for their head office. After 2 days of trying the number of the head office (which just rang and rang and was never answered) I gave up and went back to Customer Services who gave me 2 further telephone numbers to try. Luckily I go through to someone this time and she was very helpful. She said she would go and have a look at our file and see if she could find the questionnaire that we'd sent at the end of April. She came back to us within 2 mins to say she'd found it, and that they had received it at the beginning of May and that she could see that no further action had been taken and she couldn't understand why. She said it would be put to the top of the pile as an urgent case and we should receive an acknowledgement letter by the end of the week (we received it the next day) and a final decision by the end of the following week (we received it at the beginning of the week following that, but we'll let that go ).

The decision states that they are not satisfied that the sale of the PPI met with their standards of service - they are refunding the PPI in full - £1,159.00 as well as 8% interest on the premiums paid totalling £164.58. They are making this offer "without prejudice and as a gesture of goodwill" :T :money::D:rotfl::T

Couple of questions:

1) Am I right in thinking this is a great result? There are forms for us to sign to write back and accept it - but also info on how to complain to the Financial Ombudsman. This confused me slightly, as I can't see what we would be refusing? They are giving us all the money back, PLUS 8% interest? So we shoudl just accept this and be super happy, yes?!

2) My immediate instinct is to pay this money off the balance of our loan (which stands at £2580), so that we pay it off much sooner and get out of debt quicker. However my husband (the loan is in his name) would prefer to keep the money and keep paying off the loan for the next 16 months. He is out of work at the moment, and finances are tight. Can I ask people's opinion on this? Is it better to get rid of the debt quicker - and therefore limit the amount of monthly payments of £161.25 he will have to pay. OR carry on paying that amount monthly for the next 16 months, and use the money as a buffer for our day-to-day finances? It is now feesable that if we used this PPI refund, and some other savings we have, that would could complete;y repay this loan within the next couple of months. This would be my preferred option. But not my husbands! Please help! APR on the loan is 6.9%

Sorry for the mammoth post and many thanks in advance for your thoughts on the above 2 questions!!

Hi

Well done on your success.:beer:

That is procedure that they enclose details of the FOS, they must do this, for example if that was the final decision and you were not happy with it that is the next step to take.
But they have upheld it anyway and are putting you back in the position as if ppi was not taken out in the first place, plus interest, well done!

Now the other matter, i know its a good idea to clear anything outstanding if you have the money, but the decision is yours and your hubby's of course.

I take it if you did have the money refunded directly to you, they must reduce the monthly loan amount anyway, did they mention this?

sparklyjojo

di3004 wrote: »

Hi

Well done on your success.:beer:

That is procedure that they enclose details of the FOS, they must do this, for example if that was the final decision and you were not happy with it that is the next step to take.
But they have upheld it anyway and are putting you back in the position as if ppi was not taken out in the first place, plus interest, well done!

Now the other matter, i know its a good idea to clear anything outstanding if you have the money, but the decision is yours and your hubby's of course.

I take it if you did have the money refunded directly to you, they must reduce the monthly loan amount anyway, did they mention this?

Hello, many thanks for your reply!

Yes the monthly loan amount goes down from £192.35 to £164.58, so that's an added bonus. I'm just so desperate to get it paid off and be completely free from it! Ah well, the end is in sight and as it has been in hubby's name, and the monthly payments coming out of his wages... I guess I should leave it to him to decide!

Just so pleased that this is over and that we got such a perfect result!

Many thanks to Martin for this wonderful site, and especially to you di3004 - your replies on these forums are always so helpful and the support and encouragement you give to others is second to none!

I couldn't have done this without moneysavingexpert.com and am so so glad this has all worked out!! THANK YOU!!!!!! :beer:

di3004

sparklyjojo wrote: »

Hello, many thanks for your reply!

Yes the monthly loan amount goes down from £192.35 to £164.58, so that's an added bonus. I'm just so desperate to get it paid off and be completely free from it! Ah well, the end is in sight and as it has been in hubby's name, and the monthly payments coming out of his wages... I guess I should leave it to him to decide!

Just so pleased that this is over and that we got such a perfect result!

Many thanks to Martin for this wonderful site, and especially to you di3004 - your replies on these forums are always so helpful and the support and encouragement you give to others is second to none!

I couldn't have done this without moneysavingexpert.com and am so so glad this has all worked out!! THANK YOU!!!!!! :beer:

LOL, your very welcome and glad you had a great result out of this.:A:beer:, well done! X

EssexSaver_2

Money in my account today so im happy :j £1773.26 refunded from PPI on an Egg Loan.

It means i can draw a line under the whole situation i was in and am now debt free.:beer: Thanks MSE for all your help.

di3004 wrote: »

Hiya

I've not had any dealings with myself with these, but I know many have.
Fingers crossed that your refund will be in your account for tomorrow, hopefully it will be, chase them up otherwise, good luck and well done!:beer: