PPI Reclaiming successes and failures

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lornarees wrote: »

I have just received a letter from Barclays repaying me the full amount plus interest from a loan I took out just over five years ago. Absolutely brilliant - and all down to Money Saving Expert's proforma letters.

Thank you! My loan was for around £3300, but with the PPI cost which was lumped onto the loan, it all cost well over £4000.

Today I just received £1259 back. Considering I sent the letter at the start of January (and it's now only the 10th of February) I think they have turned everything round really quickly. They also sent two letters to let me know it was all being investigated - great communications. It's deeply unusual for me to praise Barclays, but they've handled my case really well and consequently retained me as a customer.

What spurred me to investigate the loan insurance mis-selling was Claims Advisory Group (who cold called and hassled and rang me over and over and wanted a 39% cut of any amount claimed back, really persistent and horrible) and I'm so glad I came onto this website which pursuaded me that I was just as capable of filing the claim/sending a letter myself.

THANK YOU!

What a quick turnaround and a lovely start to the new year.

Well done for ignoring the calls and coming to the right place. It lives up to its name of saving you money.

Huge congratulations to you.:T:T:T:T

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conza21 wrote: »

Hi All,

I have recently had my claim for PPI upheld by Blackhorse for a personal loan in 2006. I am due my redress in the next week or so but to be honest I'm still not sure how much I am due. Can anyone help????

My loan was for £3000 over 36 months but I settled the loan after 10 repayments. I have been told that I paid £21 per month toward the insurance and would also receive 8% interest on top of that.

Can anyone tell me if my settlement would have included PPI as I am unsure. This was a single premium insurance so I am assuming I would have paid money towards this in my settlement.

Thanks in advance!!! :-)

Well done on winning your claim:T:T:T:T
fingers crossed you wont have to wait too long before you get your money back.:D

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terrih wrote: »

Just a post to thank MSE forum members for their advice. I claimed against Lloyds TSB for two mis-sold loans, one taken out when I was a student and the other when I was effectively unemployed and bullied into taking out ppi by branch employee. Have been successful in both. Lloyds admitted mis-selling in first case and offered me ex-gratia payment in second. Great start to the new year! So glad I discovered this forum!

Again, many thanks and don't give up.


Terri

Well done on your claims.:T:T

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rydebry wrote: »

i first contacted the fscs on the 20th december last year about reclaiming ppi from picture loans.i recieved a questionaire from the fscs which i filled in and returned to them at the start of january.i had not heard anything from them but when i got up on friday morning the postman had posted me a cheque for 12,726.70.it was all worked out by the fscs it says they can only pay 90% of the full claim.me and the wife r just so happy we can now pay some of our debts off and start living again instead of just surviving.thank you to everyone on this site cause without reading everyones success on here i wouldnt have bothered.so for the cost of 1 phone call i got nearly 13k thank you all again.

WOW!!!! Now that is a result after one phone. :T:T

Absolutely fantastic, so pleased for you. A good start to the year.
Congratulations.:T:T that deserves a drink or too...if you drink that is..If not have a large mug of tea or coffee.:rotfl::rotfl::money::money:

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Chamone wrote: »

Update - I had completely forgotten that my claim actually covered 2 loans (one which was topped-up).

Luckily, RBS took this into account and in total my money back was closer to £5K. Received my last cheque last week. Amazing.

Brilliant. Congraulations. What a bonus not realising that there was another one hiding.:T:T:T

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conza21 wrote: »

Just a quick update - just called Blackhorse and my cheque for £750 is in the post!!!!!

Thanks to MSE letters!!!!! :-)

Marvellous...Congraulations and well done for putting your claim in.:beer::T:T

nick_paddock653

nick_paddock653 wrote: »

I was only going through my financial records yesterday and have decided to pursue a case against RBS. I am currently half way through a 5 year loan agreement and was completely mis-sold the loan insurance when i took out the loan. It was only when i looked at my agreement in detail yesterday that I realised that on a £10,000 loan, I will have paid £3550 in loan protection by the end of the agreement! Oh my god! Why did I never take more interest!

I am in a stable job, never wanted payment protection and never needed it. My current contract with the RAF ends in 2014, well after my loan ends.

Have I got a decent case? So far I have calculated that I have wasted just under £1800 on insurance. And by taking it off my current payments for the remainder of the loan, i will be £60 a month better off.

I am feeling more optimistic after reading the success stories on here. Some seem so straight forwards! No doubt mine will be full of complications and take years only to get a big fat no! Any advice appreciated!!

I have finally had a reply from RBS, 10 weeks after I initially posted my letter to them.

It reads 'Having reviewed your complaint we are unable to provide a final response at the moment because the standards against which the complaint should be assessed are subject of legal proceedings between BBA, FSA and FOS etc. etc. etc.'

They say they will keep me informed of any developments and revert to me once the matter has been resolved in court.

My question is - what do I do now? Is now the time to involve the FOS directly? The last part of the letter from RBS says I know have the right to?

Advice would be greatly appreciated!!!

Is this in effect RBS admitting there is a problem but basically stumbling on purpose to accept this and payout accordingly due to the on-going court case?

Thanks in advance!

dynoman

nick_paddock653 wrote: »

I have finally had a reply from RBS, 10 weeks after I initially posted my letter to them.

It reads 'Having reviewed your complaint we are unable to provide a final response at the moment because the standards against which the complaint should be assessed are subject of legal proceedings between BBA, FSA and FOS etc. etc. etc.'

They say they will keep me informed of any developments and revert to me once the matter has been resolved in court.

My question is - what do I do now? Is now the time to involve the FOS directly? The last part of the letter from RBS says I know have the right to?

Advice would be greatly appreciated!!!

Is this in effect RBS admitting there is a problem but basically stumbling on purpose to accept this and payout accordingly due to the on-going court case?

Thanks in advance!

Hi,

I' having the same problem with Northern Rock and Egg.
Now 10 weeks in and still not resolved.
Called them today and told them i am taking this to the FOS which i have now done.
Give the FOS a call and explain your situation.

di3004

nick_paddock653 wrote: »

I have finally had a reply from RBS, 10 weeks after I initially posted my letter to them.

It reads 'Having reviewed your complaint we are unable to provide a final response at the moment because the standards against which the complaint should be assessed are subject of legal proceedings between BBA, FSA and FOS etc. etc. etc.'

They say they will keep me informed of any developments and revert to me once the matter has been resolved in court.

My question is - what do I do now? Is now the time to involve the FOS directly? The last part of the letter from RBS says I know have the right to?

Advice would be greatly appreciated!!!

Is this in effect RBS admitting there is a problem but basically stumbling on purpose to accept this and payout accordingly due to the on-going court case?

Thanks in advance!

Hi there

With mine (different bank) I am sitting them out a little longer, although I can go to the FOS now if I want to.
There "may" be a decision made hopefully by the end of March if not before, but please don't quote me on this in case I mis-read this elsewhere.

So the choice is yours really.
The FOS can also take up to 18 months as they are more overloaded than ever, yet it may still be a case of having to go this way if your not happy with the bank's decision, hopefully it will all go in your favour though and soon, fingers crossed.:)

nick_paddock653

To be perfectly honest - I dont really understand what the court case is all about? Can someone very, very briefly clarify and is it looking likely that the consumer or the banks will be the winners of the outcome? I feel a little like I may have missed the boat on getting my money back.