PPI Reclaiming successes and failures

amersall

liam12779 wrote: »

Got a letter from Lloyds today, £2000!!!!!!!! And still 3 more claims to go!!!

:beer: Well done and congrats :T:T fingers crossed for the other 3

JamieAnne

Hi all.

I've just joined the forums tonight so I could share with you my PPI successes and failures. I've been saving for a deposit for a house since summer 2009 and turned to MSE (thanks to my boyfriend's advice) to get some tips of how else I can save some pennies.

After reading about PPI reclaiming on here and how easy it seemed to be, I decided to check up on my loans and credit cards and see if I had any I could reclaim. I used the MSE Questionnaire template and sent it to LloydTSB for a £1500 loan and credit card and another to Santander for a £3000 loan.

Here are the results so far...LloydsTSB have upheld the claim from my loan as it was added automatically when I applied for the loan online. They have yet to get back to me about the Credit Card claim. I'm assuming they're putting it off due to the current situation with the courts. And Santander have declined my claim. Here are the particulars of each:

LLOYDSTSB CREDIT CARD PPI
· MSE questionnaire sent to LLoydsTSB 09/09/2010
· Acknowledgement letter received 18/09/2010 dated 15/09/2010
· Letter received 08/11/2010 – no decision made yet – still investigating

LLOYDSTSB LOAN PPI
· MSE questionnaire sent to LloydsTSB 09/09/2010
· Acknowledgement letter received dated 15/09/2010
· Decision letter received 18/09/2010 dated 17/09/2010 - UPHELD - £370
· Acceptance letter signed and posted 18/09/2010
· Opted for text alerts of progress
· Text received confirming receipt of acceptance slip dated 06/10/2010
· Acknowledgement letter of acceptance dated 20/10/2010
· Money received in my bank 25/10/2010


SANTANDER LOAN PPI
· MSE questionnaire sent to Santander 13/08/2010
· Acknowledgement letter received dated 27/08/2010
· Decision letter received 04/10/2010 dated 29/09/2010 – NOT UPHELD
· Letter to Financial Ombudsman Service 04/10/2010
· Acknowledgement letter received from FOS dated 22/10/2010
· Final decision received from FOS dated 09/12/2010 - NOT UPHELD

I was very impressed with LloydsTSB for getting back to me and paying me so quickly!!

Good luck to anyone looking to reclaim and well done to everyone who has been successful.

I've been reading the forums for a while now, so would like to say thank you for the help and inspiration you all provide

di3004

fistral wrote: »

Hi again,
Not sure if you could shed any light on this but cant find a business loan section but after trying to claim back misold PPI I was wondering about a business loan I took out in 2002 with my brother to help buy a garage and was hoping you could shed some light on it. We borrowed 25,000 in Oct 2002 and the loan was set up where we paid 335 per month and the interest was added every month. The bank manager told us we had to have insurance on the loan and we found out from our accountant that it was added to the loan amount and as such we have paid interest on that too. now the insurance was 4,800 making the loan total 29,800, we have been paying this loan now for ove 8 years about 31,600 in total and still owe 7,500. We were never given any paperwork and still not sure what the insurance covered to be honest, we were just happy to be able to buy the business. looking back now though it seems a lot of money and more so as we have probibly paid about about 7 or 8,000 in the end for the insurance with the interest and was wondering should I write and ask for the details and agreements as this would be a case of misselling under PPI conditions. Are there different rules for business loans. Sorry that this is not on the right board but cant find anywhere to put it.
Thanks any advice would be appriciated.

Hi there

I believe the rules are the same for all loans, personal and business and also aware there have been success in reclaiming ppi from business loans.

I would try to make a reclaim with your reasons, don't worry about the paperwork at this point anyway, and just complete the reclaiming questionnaire on stage one here.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Send a completed copy to the head office of whoever sold you the account, or the complaints dept if they have one, and keep another copy back for yourself and any letters you receive in case you need to go back to this again.

They have 8 weeks but may ask for more time, but should keep you informed of your progress of your complaint.

Good luck.

di3004

qmpete wrote: »

Just received a cheque from Egg for around £2500 for missold PPI. It took a while (around 9 months from my original complaint), but certainly worth it.

The FOS ended up negotiating a figure with Egg in order to avoid the time and cost of doing a full investigation. Ok, if I'd asked for a full investigation I may have got a little more out of them in statutory interest, but I felt the figure was reasonable so accepted.

A few delaying tactics met along the way, but from what I've read 9 months is not a bad wait for a successful outcome.

Thanks MSE for guiding me through the process.
:beer:

Brilliant, well done and Congratulations!:beer:

di3004

liam12779 wrote: »

Got a letter from Lloyds today, £2000!!!!!!!! And still 3 more claims to go!!!

Whoohoo, that is great Liam, Congratulations and good luck on the other 3, wow!:beer:

di3004

JamieAnne wrote: »

Hi all.

I've just joined the forums tonight so I could share with you my PPI successes and failures. I've been saving for a deposit for a house since summer 2009 and turned to MSE (thanks to my boyfriend's advice) to get some tips of how else I can save some pennies.

After reading about PPI reclaiming on here and how easy it seemed to be, I decided to check up on my loans and credit cards and see if I had any I could reclaim. I used the MSE Questionnaire template and sent it to LloydTSB for a £1500 loan and credit card and another to Santander for a £3000 loan.

Here are the results so far...LloydsTSB have upheld the claim from my loan as it was added automatically when I applied for the loan online. They have yet to get back to me about the Credit Card claim. I'm assuming they're putting it off due to the current situation with the courts. And Santander have declined my claim. Here are the particulars of each:

LLOYDSTSB CREDIT CARD PPI
· MSE questionnaire sent to LLoydsTSB 09/09/2010
· Acknowledgement letter received 18/09/2010 dated 15/09/2010
· Letter received 08/11/2010 – no decision made yet – still investigating

LLOYDSTSB LOAN PPI
· MSE questionnaire sent to LloydsTSB 09/09/2010
· Acknowledgement letter received dated 15/09/2010
· Decision letter received 18/09/2010 dated 17/09/2010 - UPHELD - £370
· Acceptance letter signed and posted 18/09/2010
· Opted for text alerts of progress
· Text received confirming receipt of acceptance slip dated 06/10/2010
· Acknowledgement letter of acceptance dated 20/10/2010
· Money received in my bank 25/10/2010


SANTANDER LOAN PPI
· MSE questionnaire sent to Santander 13/08/2010
· Acknowledgement letter received dated 27/08/2010
· Decision letter received 04/10/2010 dated 29/09/2010 – NOT UPHELD
· Letter to Financial Ombudsman Service 04/10/2010
· Acknowledgement letter received from FOS dated 22/10/2010
· Final decision received from FOS dated 09/12/2010 - NOT UPHELD

I was very impressed with LloydsTSB for getting back to me and paying me so quickly!!

Good luck to anyone looking to reclaim and well done to everyone who has been successful.

I've been reading the forums for a while now, so would like to say thank you for the help and inspiration you all provide

Hiya

Wow, some reclaims there then?
Cool!:j

Well done on your upheld reclaims, Congratulations!:beer:

And fingers crossed on the others, please keep us posted, cheers.;)

Layla7

Hi - I am new to this so was hoping that someone might be able to help. Can I reclaim for previous charges even though all my card accounts are closed due to me going through the cccs so only making small affordable payments at present? Some creditors are adding interest which is not helping and others have finally stopped interest. Perhaps I should just reclaim for the ones who are charging interst at present otherwise I will never get out of debt! If they do decide to pay me back some charges I guess they will just take it off the balance I owe?

Thanks:o

di3004

Layla7 wrote: »

Hi - I am new to this so was hoping that someone might be able to help. Can I reclaim for previous charges even though all my card accounts are closed due to me going through the cccs so only making small affordable payments at present? Some creditors are adding interest which is not helping and others have finally stopped interest. Perhaps I should just reclaim for the ones who are charging interst at present otherwise I will never get out of debt! If they do decide to pay me back some charges I guess they will just take it off the balance I owe?

Thanks:o

Hi Layla and welcome

I take it you mean ppi charges?

And the answer is yes, and you still pursue the ones who set up and sold you the account from the start, despite if this have been under the collections dept.
If your under a payment plan, the ppi would not be worthless to you anyway, as your not going to be able to make a claim for sickness and unemployment etc, I would ask they cancel as soon as possible, as this is only added to your debt and explain the policy is worthless to you.

If you were mis sold, then give it a go on reclaiming back the ppi, complete the reclaiming questionnaire.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim
Sent to the head office of whom set this up for you, keep copies of everything in case you need to go back to this again at some point.

They have 8 weeks but may ask for more time.

In regards of the charges as this is making the debt worse, this is making the debt worse for you too, I would personally write to them again and ask they do this because of this, and tell them you will otherwise complain to the FOS under hardship reasons.

Hope this helps, good luck and please keep us posted, cheers.;)

amersall

JamieAnne wrote: »

Hi all.

I've just joined the forums tonight so I could share with you my PPI successes and failures. I've been saving for a deposit for a house since summer 2009 and turned to MSE (thanks to my boyfriend's advice) to get some tips of how else I can save some pennies.

After reading about PPI reclaiming on here and how easy it seemed to be, I decided to check up on my loans and credit cards and see if I had any I could reclaim. I used the MSE Questionnaire template and sent it to LloydTSB for a £1500 loan and credit card and another to Santander for a £3000 loan.

Here are the results so far...LloydsTSB have upheld the claim from my loan as it was added automatically when I applied for the loan online. They have yet to get back to me about the Credit Card claim. I'm assuming they're putting it off due to the current situation with the courts. And Santander have declined my claim. Here are the particulars of each:

LLOYDSTSB CREDIT CARD PPI
· MSE questionnaire sent to LLoydsTSB 09/09/2010
· Acknowledgement letter received 18/09/2010 dated 15/09/2010
· Letter received 08/11/2010 – no decision made yet – still investigating

LLOYDSTSB LOAN PPI
· MSE questionnaire sent to LloydsTSB 09/09/2010
· Acknowledgement letter received dated 15/09/2010
· Decision letter received 18/09/2010 dated 17/09/2010 - UPHELD - £370
· Acceptance letter signed and posted 18/09/2010
· Opted for text alerts of progress
· Text received confirming receipt of acceptance slip dated 06/10/2010
· Acknowledgement letter of acceptance dated 20/10/2010
· Money received in my bank 25/10/2010


SANTANDER LOAN PPI
· MSE questionnaire sent to Santander 13/08/2010
· Acknowledgement letter received dated 27/08/2010
· Decision letter received 04/10/2010 dated 29/09/2010 – NOT UPHELD
· Letter to Financial Ombudsman Service 04/10/2010
· Acknowledgement letter received from FOS dated 22/10/2010
· Final decision received from FOS dated 09/12/2010 - NOT UPHELD

I was very impressed with LloydsTSB for getting back to me and paying me so quickly!!

Good luck to anyone looking to reclaim and well done to everyone who has been successful.

I've been reading the forums for a while now, so would like to say thank you for the help and inspiration you all provide

:beer: Well done :j:j congrats :j
If you dont mind me asking, why was the santander loan not upheld?.

JamieAnne

Thank you fellow savers

My argument with Santander was that I applied for the loan online and was emailed saying in order to continue with the application I had to phone them to discuss PPI and when I did I felt pressured into taking it out but they disagreed. Apparently they've got the recordings so I won't challenge their decision.

I was only young when I got my credit card from Lloyds so they probably fobbed me off with PPI but it was a long time ago. I think I'll ring lloyds for an update on that. It's been a couple of months since I heard from them.