PPI Reclaiming successes and failures

Iain1983

suzannew wrote: »

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

Three years ago I started a claim against GE Money for a mis sold PPI, using the templates dear Martin Lewis had provided on this site. The orginal loan was for £5,000 and the added insurance brought this up to £6145. I took out this loan in 2005 and had paid it off in 2007.

In 2008 after reading this site I decided to try and claim back the PPI. 18 months ago, after a lot of form filling this went to the Financial Ombudsman only to be told GE had sold this onto Central Capital. I then had to start all over again with the photocopyng of documents which I had fortunately kept. This once again went to the Financial Ombudsman who upheld my complaint. In December 2010 I was made and offer, with interest calculated up to 6th April 2011. Today the money was paid into my account and totalled £10,670.20:T

Not only did I the PPI back biut also the original loan amount and interest. :T

Dont give up, you may feel you are bashing your head against a wall, but it can be worth it in the end.

Cheers Martin:beer:

Wow! That is success of the century!! Very well done.

Footiemad_2

sunny_days wrote: »

Hi,

Just thought I'd tell everyone my recent good news after following the advice on here for reclaiming PPI.

I took out a loan with Egg in 2003 and was pretty much bullied into taking out PPI which I didn't need. Using the template letter and form on here I wrote to them and received a letter back stating they would get back to me in 4 weeks. They wrote to me again 4 weeks later and said they were still looking into it and would write again in another 4 weeks. Sure enough last week I received a letter from them informing me that my complaint had been upheld and a cheque was attached for almost £4600! I was so, so happy! This is enough to pay off my current debts and put a deposit on a new car which I so desperately need!

Thank you so much!

Now I'm pretty sure I had an even older loan with Egg that I don't have the paperwork for. Where can I find out about old credit agreements?

Thats brilliant. Well done. EGG are going down with all the success, they really do know that they were so very wrong and are paying the price. :j:T:T:T:T

Good luck with the other loan PPI.:D

Footiemad_2

suzannew wrote: »

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

Three years ago I started a claim against GE Money for a mis sold PPI, using the templates dear Martin Lewis had provided on this site. The orginal loan was for £5,000 and the added insurance brought this up to £6145. I took out this loan in 2005 and had paid it off in 2007.

In 2008 after reading this site I decided to try and claim back the PPI. 18 months ago, after a lot of form filling this went to the Financial Ombudsman only to be told GE had sold this onto Central Capital. I then had to start all over again with the photocopyng of documents which I had fortunately kept. This once again went to the Financial Ombudsman who upheld my complaint. In December 2010 I was made and offer, with interest calculated up to 6th April 2011. Today the money was paid into my account and totalled £10,670.20:T

Not only did I the PPI back biut also the original loan amount and interest. :T

Dont give up, you may feel you are bashing your head against a wall, but it can be worth it in the end.

Cheers Martin:beer:

That is absolutely fantastic. Well done you. :T:T:T:T:beer:

Gunnersaurus

sunny_days wrote: »

Hi,

Just thought I'd tell everyone my recent good news after following the advice on here for reclaiming PPI.

I took out a loan with Egg in 2003 and was pretty much bullied into taking out PPI which I didn't need. Using the template letter and form on here I wrote to them and received a letter back stating they would get back to me in 4 weeks. They wrote to me again 4 weeks later and said they were still looking into it and would write again in another 4 weeks. Sure enough last week I received a letter from them informing me that my complaint had been upheld and a cheque was attached for almost £4600! I was so, so happy! This is enough to pay off my current debts and put a deposit on a new car which I so desperately need!

Thank you so much!

Now I'm pretty sure I had an even older loan with Egg that I don't have the paperwork for. Where can I find out about old credit agreements?

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

Absolutely brilliant. Congratulations. I too got my money back through Egg, in virtually the same circumstances as yourself. Egg are taking a right hammering, and quite right too. This is also a great reminder to people who are't sure whether to go ahead with putting in a claim that you should do it!!! Well done, and enjoy your new car! :D:D:D:D:D:D:D:D :beer:

Gunnersaurus

k77mss wrote: »

hi well done on your win i sent my egg complaint 2weeks ago and after 5 days received a letter confirming my complaint then 2 days later got another one telling us they had reveiwed it and can't give us response because of review did you get this one or did you get yours upheld at this point just trying to think of next move or leave it the 8 weeks as normal for response.
thanxs

Hi, and Thank you! I didn't receive the second letter you refer to in your post. I had two letters in the first 4 weeks advising me that they were looking into my claim. Then 2 days before the 8 week deadline they sent me a letter upholding my complaint and enclosed the cheque. I know Egg have been taking a severe hammerig recently, and have been paying out an awful lot of money - and quite right too, but this is the first one I have heard about that they are pending, awaiting the results of the JR. Personally, I would keep on at them, and if after the 8 weeks you haven't heard anything, then get in touch again, and write to the FOS. Unfortunately, there isn't an awful lot you can do until the JR is announced, but it's worth keeping in touch so that they don't forget you. Other, more experienced "posters" on this site may have better advice for you, but please do not give up.

Wishing you all the best for a successful outcome.
G

Kuffs1978

suzannew wrote: »

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

Three years ago I started a claim against GE Money for a mis sold PPI, using the templates dear Martin Lewis had provided on this site. The orginal loan was for £5,000 and the added insurance brought this up to £6145. I took out this loan in 2005 and had paid it off in 2007.

In 2008 after reading this site I decided to try and claim back the PPI. 18 months ago, after a lot of form filling this went to the Financial Ombudsman only to be told GE had sold this onto Central Capital. I then had to start all over again with the photocopyng of documents which I had fortunately kept. This once again went to the Financial Ombudsman who upheld my complaint. In December 2010 I was made and offer, with interest calculated up to 6th April 2011. Today the money was paid into my account and totalled £10,670.20:T


Not only did I the PPI back biut also the original loan amount and interest. :T

Dont give up, you may feel you are bashing your head against a wall, but it can be worth it in the end.

Cheers Martin:beer:

Hi everyone,

Whilst I really don't want to rain on anyone's parade, I have to say that I find this story rather difficult to swallow. I have no agenda here, but considering the time period you refer to, it really doesn't make sense, and I'm sure you'll agree that you don't want to fill anyone's head with false expectations when trying to reclaim PPI.

You claim to have been refunded the PPI with the typical 8% per annum, which is perfectly reasonable. But don't you think it's a bit far fetched to expect people to believe that GE Money; one of the most difficult lenders to reclaim from, then paid you back the value of the amount you originally borrowed, plus almost all of the interest you repaid? Do you honestly expect us to believe that the lender would sacrifice profit in order to repay a measly £1500 in PPI? I have friends who borrowed twice the amount you claim to have borrowed, also from GE Money, with a further £1530 in PPI, repaid over 5 years. Yet the maximum they could reclaim was £2,610 (with assistance from the FoS)
Considering you claim to have repaid the loan in full 4 years ago, no further interest would have been accrued since no further repayments would have been made. As pleasant as your story was to read, I think it needs to be taken with a hearty helping of salt rather than just a pinch. Sorry.

tifosi

Kuffs,

whilst I can see your point of view (also possible GE just screwed up the refund?), that's one odd first post!

amersall

Kuffs1978 wrote: »

Hi everyone,

Whilst I really don't want to rain on anyone's parade, I have to say that I find this story rather difficult to swallow. I have no agenda here, but considering the time period you refer to, it really doesn't make sense, and I'm sure you'll agree that you don't want to fill anyone's head with false expectations when trying to reclaim PPI.
This could be GE money at fault here, so maybe "benefit of the doubt" here?
You claim to have been refunded the PPI with the typical 8% per annum, which is perfectly reasonable. But don't you think it's a bit far fetched to expect people to believe that GE Money; one of the most difficult lenders to reclaim from, then paid you back the value of the amount you originally borrowed, plus almost all of the interest you repaid? Do you honestly expect us to believe that the lender would sacrifice profit in order to repay a measly £1500 in PPI? PLEASE GIVE OP "BENEFIT OF THE DOUBT" (you may well be right, but you also maybe jumping the gun!!)one of the most difficult lenders to reclaimI have friends who borrowed twice the amount you claim to have borrowed, also from GE Money, with a further £1530 in PPI, repaid over 5 years. Yet the maximum they could reclaim was £2,610 (with assistance from the FoS)

***Considering you claim to have repaid the loan in full 4 years ago, no further interest would have been accrued since no further repayments would have been made.***** this i agree with. You only get ppi back that you have paid to date with interest, you do not get the whole loan amount back with all ppi as well.This loan only ran for 2 years then it was settled, so only 2 years of ppi were paid and the rebate when settled as well would have made a nice redress. As pleasant as your story was to read, I think it needs to be taken with a hearty helping of salt rather than just a pinch. Sorry.

stumpcutta1

I have had 2 loans with Nat-west both with the dreaded ppi. I used a template letter and sent it for the two separate loans. I have just received a letter awarding me £2366 back on the loan that was finished in 2007! yippee....but the current loan with ppi has been put on hold subject to judicial review.So I went to the bank to cancel my ppi on the current loan as I thought it was pretty silly paying ppi when they had agreed to give me a previous ppi back. I have received a letter today confirming cancellation of my insurance but this extract from the letter makes me a little annoyed. "Please note that, when you cancel the Loan Account Insurance,your monthly repayment figure will not reduce by the amount of the monthly insurance payment that is quoted on your Consumer Credit Act agreement form"."This is because the repayments for insurance are higher at the start of the loan, due to the risk involved,and lower at the end of the loan.Therefore the longer the loan has been operating and receiving the benefit of the protector insurance cover the less the monthly repayment will reduce" After a few phone calls to natwest regarding the content of this letter they advised me to write a complaint to Customer relations department. because I have been paying for 4 years out of 5 years 154 per month for the loan and £40per month for the insurance as it states on my agreement.So now I have cancelled the insurance should I now only pay for the loan? SURELY YES or am I wrong???

stumpcutta1

Regarding my previous post. They have said no change to next months payment but then after that they have reduced my payment by £5 !!! so I sill have to pay £189 ...! and yes I do have a claim in on this for mis sold ppi and wonder how they will calculate my settlement figure.