PPI Reclaiming successes and failures

di3004

Funky1 wrote: »

I sent the MSE template form from the FSA around 5 weeks ago and this week we got a letter saying they agreed that it was missold and will be willing to pay out over £3K which leaves around £2k on the balance.

Do I except this first letter or hold out and send a letter saying no. The advice on the MSE says don't accept the first letter / response but nothing if they actually say they will pay out. We are also on a DMP so I don't want to rock the boat too much.

What do I do, I can't believe it only took one letter.

The letter said after considering all the information they have concluded that we were not given all the sufficient details to allow us to make an informed decision when the policy was take out. So they would make the offer os £3174.39 which is a refund of the premiums paid, interest to date, total amount of pro-rata PPI rebate.

It will bring the whole debt down to just over £2k which will go a long way on the DMP.

I just did not want to send a letter to say we would not accept it then end up with less.

What should I do?

Hi there

Well done on your success.:beer:

It seems like are accepting liability of mis selling and putting you back in the position as if you did not have ppi.

If it was an offer and they did not accept liability there is a difference where you would not have to accept the first offer if your not happy with it.

But with them upholding in your favour it it means you will receive all that your entitled to going by your post.

So you will not receive anything further as they have accepted liability and its not an offer but a done complete success.
Does that make any sense?

Well done!;)

the_knitting_drummer

di3004 wrote: »

Hi there

Well done on your success.:beer:

It seems like are accepting liability of mis selling and putting you back in the position as if you did not have ppi.

If it was an offer and they did not accept liability there is a difference where you would not have to accept the first offer if your not happy with it.

But with them upholding in your favour it it means you will receive all that your entitled to going by your post.

So you will not receive anything further as they have accepted liability and its not an offer but a done complete success.
Does that make any sense?

Well done!;)

I agree with our good friend Di here. That offer is in line with the FOS guidelines.

Well done on a bang up job! :T

redian123

di3004 wrote: »

Hi there

Hope this is of some help for you



Ask for receipt of email.

Good luck.;)

Thanks a lot di,will give it a go.:D:D

Funky1_2

Thanks 'the knitting drummer' and 'di3004' I thought this would be the case. I think £3k is reasonable and seems to be the whole amount we paid.

I was just checking after I re-read the MSE PPI page which said never accept the first letter. Albeit this one is a successful first letter.

I cannot believe that they accepted on the first letter. This will bring our DMP down by 7 months so it will only be just over a year left which is such a weight of our minds.

I suppose there is some good news afterall in this world rather than companies and people knocking you down all the time

di3004

Funky1 wrote: »

Thanks 'the knitting drummer' and 'di3004' I thought this would be the case. I think £3k is reasonable and seems to be the whole amount we paid.

I was just checking after I re-read the MSE PPI page which said never accept the first letter. Albeit this one is a successful first letter.

I cannot believe that they accepted on the first letter. This will bring our DMP down by 7 months so it will only be just over a year left which is such a weight of our minds.

I suppose there is some good news afterall in this world rather than companies and people knocking you down all the time

Hiya

That is fab, and a nice sum too!:beer:

Yes I know what your saying, when they say never go for the first offer, but that normally is if they are offering you a offer if you know what I mean?;)
But they have agreed and what you have paid is what you get back and interest if they accepted the mis sell.

Well done!:T

monners

Just goes to show how different these banks choose to operate. Had two ppi claims going, 1 from last July and the other from last November, and decided to take Anna* lead and email the ceo of mbna and the lloyds banking group. both cases had been pended due to the JR, but within a week of sendig the emails i got a refund letter from mbna, and yesterday banked the cheque for £3645.00. Now the halifax (lloyds banking group) are another matter. Not even the courtesy of a reply after sending a reminder after 1 week!! Shows total contempt for their customers I think. However, it does not end here and I will be sending further reminders via recorded delivery.

amersall

SFordham wrote: »

I sent two seperate letters to Alliance & Leicester at the beginning of the month, and today I got two letters from Santander, who have taken over the A&L.

One was an offer of £3289.09, and the other an offer of £2192.61! Both are the PPI, and interest!

Thanks MSE!

I used the templates from this website and am overjoyed!

:beer: Well done :T:T:T

Footiemad_2

Funky1 wrote: »

I sent the MSE template form from the FSA around 5 weeks ago and this week we got a letter saying they agreed that it was missold and will be willing to pay out over £3K which leaves around £2k on the balance.

Do I except this first letter or hold out and send a letter saying no. The advice on the MSE says don't accept the first letter / response but nothing if they actually say they will pay out. We are also on a DMP so I don't want to rock the boat too much.

What do I do, I can't believe it only took one letter.

The letter said after considering all the information they have concluded that we were not given all the sufficient details to allow us to make an informed decision when the policy was take out. So they would make the offer os £3174.39 which is a refund of the premiums paid, interest to date, total amount of pro-rata PPI rebate.

It will bring the whole debt down to just over £2k which will go a long way on the DMP.

I just did not want to send a letter to say we would not accept it then end up with less.

What should I do?

Well done. Glad the pennies are going to help you out with DMP. Congrats.:T:T:T

Footiemad_2

monners wrote: »

Just goes to show how different these banks choose to operate. Had two ppi claims going, 1 from last July and the other from last November, and decided to take Anna* lead and email the ceo of mbna and the lloyds banking group. both cases had been pended due to the JR, but within a week of sendig the emails i got a refund letter from mbna, and yesterday banked the cheque for £3645.00. Now the halifax (lloyds banking group) are another matter. Not even the courtesy of a reply after sending a reminder after 1 week!! Shows total contempt for their customers I think. However, it does not end here and I will be sending further reminders via recorded delivery.

Thats brilliant. Well done.:T:T

bigvern69

This is a long one, so please bare with me.

In January this year I wrote to Barclaycard to inform them that i fealt I had been miss sold PPI on my credit card. I sent the usual letter and received a standard reply telling me they would respond by........... They didnt - so I wrote to them again. Still no response...... In mid March I wrote to them and informed them that until I received a response to my letters I would be making no further payments to them and that I considered my account to be "in dispute"

Finally I received a response this morning to which I am a little concerned. They say that when I aplied for the card in 2003, I also completed an application form for PPI. They have enclosed a copy. They also claim that it is their

"policy to ensure that customers are aware of the features and benefits of PPI before proceeding with the purchase of the policy. To this end our applications have specific information relating to these features and benefits at the point where the PPI is offered.

In line with the requirements of the FSA we provide the following at the point of sale

* The principal details of the cover provided by the policy and associated benefits;

* Details of any significant or unusual restrictions or exclusions e.g. pre-existing medical conditions;

* The suitability to those who are self-employed, on contract or part time work;

*That cover is optional and will not impact on our application decision; and;

* The price of the policy"

They then go on to say that "having reveiwed the original application, it apears that you did select the option for PPI. As you requested PPI on your application form, and we have evidence of this, we are therefore unable to uphold your complaint."

What can I do next? If anything??