PPI Reclaiming successes and failures

amersall

Originally Posted by AngloTaffy
Hi,
I don't know if I'm on the right forum section for this enquiry as I'm still new to all this, so apologies if I am & here goes:

I wrote my 1st post on here last week explaining how I was going to attempt to reclaim what I believe to be mis-sold PPI on secured loan I currently have with Loans co.uk/GE Money;
Because it's a relatively large loan & my monthly repayment is £390 I didn't want to be without any cover at all so wanted to cancel the existing, expensive & 'frontloaded' PPI that was built into original loan & replace it with a cheaper monthly option.
I applied for an income protection policy with Cardiff Pinnacle which would have been just £23 per month but just yesterday got a reply from them to say I hadn't been accepted (this despite me taking out a new mortage protection plan with them just last month & my circumstances not having changed at all!?)

Anyway, just wondering if anyone could recommend any alternative, reputable providers for the same?

Many thanks
Hi there, think you have a chance of winning this, the fact it is front loaded and you repay this over the term of the loan with interest is the major reason.It is not worth cancelling this ppi as you only get a small rebate and the ppi is still on your loan (and you are not covered anymore!) untill the end of the term with interest.With regards to you being turned down for cover by pinnacle, i would do as di suggests and ring them and ask them why.

I did recommend you shouldnt cancel this front loaded ppi.Hope you hear about the mis sell quickly.

shelly161

I have reclaimed PPI from Welcome Finance. Last week I recieved an offer of over 5000. Was first rejected last year but really happy I continued thanks to the forums here. Will let you know how long it takes to get my money.
So to all dont give up as Welcome are paying out ...

shelly161

I have recieved the same letter have read lots of people have and got there money. Keep in touch I will let you know when I recieve my payout. Good luck

AngloTaffy_2

Hi Amersall,

Many thanks for the reply & the original advice; I cancelled with them as I was given the impression when I called them that the monthly amount would decrease so feel a bit misled! Anyway, here's hoping I win the complaint (have approx 2 weeks left from original complaint to wait)

amersall

AngloTaffy wrote: »

Hi Amersall,

Many thanks for the reply & the original advice; I cancelled with them as I was given the impression when I called them that the monthly amount would decrease so feel a bit misled! Anyway, here's hoping I win the complaint (have approx 2 weeks left from original complaint to wait)

Fingers and everything else crossed for you These firms will tell you anything :eek: Good luck x.

andr_mich

shelly161 wrote: »

I have recieved the same letter have read lots of people have and got there money. Keep in touch I will let you know when I recieve my payout. Good luck

my offer letter said 30 working days but Ill let you know as soon as it hits the bank!:beer: fingers crossed

FiggieG

Two months ago I was browsing through this discussion thread and after reading through the various tips and advice for reclaiming PPI I decided to use the PPI reclaim letter templates to reclaim the PPI I was paying for a loan I had back in 2005 (up to October 2009) with Nationwide.

I was paying £59 a month for PPI for 41 months and never knew that not only did the PPI NOT cover the term of my loan, but it was never explained to me that I could get it cheaper elsewhere. These ended up being the main 2 reasons why I managed to successfully claim back my PPI.

It only took one letter (following the template exactly) and I received a letter this weekend stating that after they looked into my account and completed their investigations they concluded that it was not possible for me to make an informed decision on taking the PPI based on what the salesperson explained to me.......I received £3,768 and am (obviously) over the moon as I was expecting (at best) about £2400.

A HUGE thank you to everyone on this forum and the fantastic PPI reclaim letter templates!

To anyone out there thinking about claiming back PPI....GO FOR IT! Do not bother going through these companies who offer to claim it back for you as (IMHO) they are a rip-off and totally unnecessary especially as all it takes is a simple letter direct to the loan provider!

di3004

FiggieG wrote: »

Two months ago I was browsing through this discussion thread and after reading through the various tips and advice for reclaiming PPI I decided to use the PPI reclaim letter templates to reclaim the PPI I was paying for a loan I had back in 2005 (up to October 2009) with Nationwide.

I was paying £59 a month for PPI for 41 months and never knew that not only did the PPI NOT cover the term of my loan, but it was never explained to me that I could get it cheaper elsewhere. These ended up being the main 2 reasons why I managed to successfully claim back my PPI.

It only took one letter (following the template exactly) and I received a letter this weekend stating that after they looked into my account and completed their investigations they concluded that it was not possible for me to make an informed decision on taking the PPI based on what the salesperson explained to me.......I received £3,768 and am (obviously) over the moon as I was expecting (at best) about £2400.

A HUGE thank you to everyone on this forum and the fantastic PPI reclaim letter templates!

To anyone out there thinking about claiming back PPI....GO FOR IT! Do not bother going through these companies who offer to claim it back for you as (IMHO) they are a rip-off and totally unnecessary especially as all it takes is a simple letter direct to the loan provider!

Well done and Congratulations, great work! :beer:

amersall

FiggieG wrote: »

Two months ago I was browsing through this discussion thread and after reading through the various tips and advice for reclaiming PPI I decided to use the PPI reclaim letter templates to reclaim the PPI I was paying for a loan I had back in 2005 (up to October 2009) with Nationwide.

I was paying £59 a month for PPI for 41 months and never knew that not only did the PPI NOT cover the term of my loan, but it was never explained to me that I could get it cheaper elsewhere. These ended up being the main 2 reasons why I managed to successfully claim back my PPI.

It only took one letter (following the template exactly) and I received a letter this weekend stating that after they looked into my account and completed their investigations they concluded that it was not possible for me to make an informed decision on taking the PPI based on what the salesperson explained to me.......I received £3,768 and am (obviously) over the moon as I was expecting (at best) about £2400.

A HUGE thank you to everyone on this forum and the fantastic PPI reclaim letter templates!

To anyone out there thinking about claiming back PPI....GO FOR IT! Do not bother going through these companies who offer to claim it back for you as (IMHO) they are a rip-off and totally unnecessary especially as all it takes is a simple letter direct to the loan provider!

:j:j Well done and congrats :beer:

shelly161

great. Spoke to them today was told they aim to pay out before the 30days so lets hope we have an good xmas