PPI Reclaiming successes and failures

Footiemad_2

Carling-Darling wrote: »

Hi there I used all the templates from the web site and followed all the instruction - Success
5th August 2010 asked for a copy of my credit agreement for a £3500 loan taken out 2002
Lodged my complaint with Lloyds - TSB 20th September 2010
Received a response saying they were looking into it 4th October
Wrote to them again using templates 10th November chasing
Referred to the FOS 2nd December
FOS wrote back to me 2nd February they have lodged my complaint with LLoyds-TSB - gave me a contact name and address if I hear nothing within a week contact them
Contacted LLoyds-TSB on telephone - they are dealing and have 8 weeks
On the last Friday on the 8th week I called them
They were pretty shirty but said and offer was in the post dated 6th March- I said obviously not as it is Friday 1st April and yet to receive - please resend or email
Received letter talking percentages asking me to sign dated 5th April
Signed and sent back 7th April
Received letter dated 13th April saying I would be getting £917 .65 for the original policy plus £480.96 at 8% simple interest plus a payment of goodwill (not disclosed)
Expect money in 21 days..........................................
Safe to say Result.......................YEY thanks very much Martin all your templates paid off. I did it all myself as I was stung by a company going after my shortfall with an endowment and I thought Mmmmm I could have done that.................So this time I DID IT

Well done and congratulations for sticking with it. A lovely payment winging its way to you. :T:T:T

amersall

Well done carling darling :beer::beer::beer:
Nice one :j:j

k77mss

hi just heard jr being handed down wed 20th april fingers and toes crossed everyone:T:T:T:T

the_knitting_drummer

tin123 wrote: »

I wrote to Egg a couple of months ago, after hearing Martin's advice for reclaiming missold PPI - It was made quite clear to me that without the insurance I would not get the loan.
I used Martin's template letter, after about 4 weeks they wrote back to say they were looking into it. Three weeks after I get a letter saying yes I was due a refund - over £2500, which has effectively cleared my loan 9 months early. Thanks Martin I cannot believe they paid out. I would suggest anyone with a concern take the time to fill out the simple template letter. Brilliant and thanks again Martin and his team. good luck to everyone else

Well done my friend! That is fantastic news!
:T:j:T:j:beer::beer::j:T:j:T

Munro_Bagger

Originally Posted by tin123
I wrote to Egg a couple of months ago, after hearing Martin's advice for reclaiming missold PPI - It was made quite clear to me that without the insurance I would not get the loan.
I used Martin's template letter, after about 4 weeks they wrote back to say they were looking into it. Three weeks after I get a letter saying yes I was due a refund - over £2500, which has effectively cleared my loan 9 months early. Thanks Martin I cannot believe they paid out. I would suggest anyone with a concern take the time to fill out the simple template letter. Brilliant and thanks again Martin and his team. good luck to everyone else

Brilliant tin123 - this gives me hope, as I've just started the process for Egg together with my partner. T&C request made earlier this week, with 14-day deadline. Then it's the questionnaire - Egg also advised that the loan could not go ahead without the insurance. Many thanks and well done!!!!!:D

Lubielu

What were you reclaiming: I was sold mortgage repayment protection insurance and income protection insurance in 2006 when going through a divorce. HSBC reviewed and re-confirmed my requirements 2 years later even though I had by then sold my house, had no mortgage or dependants, and had significant savings in my HSBC bank account.

Who was the provider: HSBC Life UK (insurance services)

How much did you get back: Full repayment of the mortgage repayment protection insurance premia from the date the policies were re-reviewed = £1070 (including interest). Claim rejected in respect of income protection insurance which they said was correct level of insurance for my requirements. Also rejected in respect of original policies sold in 2006 which they said were also suitable.

Did you get it back after a letter or did you go to the Financial Ombudsman: HSBC made me an offer of £1070 which I believe was made really to make me go away! I was happy with their explanation and the level of compensation offered so did not take it to the Ombudsman. Also they responded fairly quickly (within the 8 weeks) and kept me posted at all times.

I understand HSBC are no longer selling their "Mortgage Repayment Protector" policy as it appears to have been particularly rife with advisers missselling it to achieve their targets. So if you've had this type of policy in the past it may be worth making a claim - there must be a reason they stopped selling it! I wasn't sure about claiming but thought it was worth a letter, and now I'm £1000 better off - it's paid off some unexpected bills which was most welcome.

Also worth noting is that I had literally NO documentation, not even policy numbers, I only had the date the policies started (which I worked out from my online bank statements). From there, I just got the HSBC phone helpline to provide it all. So even though the best would be to provide documentation, actually even without any paperwork it's probably worth giving it a go.

Thanks MSE as I would not have known about PPI misselling had I not stumbled onto this site!:T

di3004

Lubielu wrote: »

What were you reclaiming: I was sold mortgage repayment protection insurance and income protection insurance in 2006 when going through a divorce. HSBC reviewed and re-confirmed my requirements 2 years later even though I had by then sold my house, had no mortgage or dependants, and had significant savings in my HSBC bank account.

Who was the provider: HSBC Life UK (insurance services)

How much did you get back: Full repayment of the mortgage repayment protection insurance premia from the date the policies were re-reviewed = £1070 (including interest). Claim rejected in respect of income protection insurance which they said was correct level of insurance for my requirements. Also rejected in respect of original policies sold in 2006 which they said were also suitable.

Did you get it back after a letter or did you go to the Financial Ombudsman: HSBC made me an offer of £1070 which I believe was made really to make me go away! I was happy with their explanation and the level of compensation offered so did not take it to the Ombudsman. Also they responded fairly quickly (within the 8 weeks) and kept me posted at all times.

I understand HSBC are no longer selling their "Mortgage Repayment Protector" policy as it appears to have been particularly rife with advisers missselling it to achieve their targets. So if you've had this type of policy in the past it may be worth making a claim - there must be a reason they stopped selling it! I wasn't sure about claiming but thought it was worth a letter, and now I'm £1000 better off - it's paid off some unexpected bills which was most welcome.

Also worth noting is that I had literally NO documentation, not even policy numbers, I only had the date the policies started (which I worked out from my online bank statements). From there, I just got the HSBC phone helpline to provide it all. So even though the best would be to provide documentation, actually even without any paperwork it's probably worth giving it a go.

Thanks MSE as I would not have known about PPI misselling had I not stumbled onto this site!:T

Well done!:T And Congratulations!:beer:

amersall

Lubielu :beer: Well done

Footiemad_2

Lubielu wrote: »

What were you reclaiming: I was sold mortgage repayment protection insurance and income protection insurance in 2006 when going through a divorce. HSBC reviewed and re-confirmed my requirements 2 years later even though I had by then sold my house, had no mortgage or dependants, and had significant savings in my HSBC bank account.

Who was the provider: HSBC Life UK (insurance services)

How much did you get back: Full repayment of the mortgage repayment protection insurance premia from the date the policies were re-reviewed = £1070 (including interest). Claim rejected in respect of income protection insurance which they said was correct level of insurance for my requirements. Also rejected in respect of original policies sold in 2006 which they said were also suitable.

Did you get it back after a letter or did you go to the Financial Ombudsman: HSBC made me an offer of £1070 which I believe was made really to make me go away! I was happy with their explanation and the level of compensation offered so did not take it to the Ombudsman. Also they responded fairly quickly (within the 8 weeks) and kept me posted at all times.

I understand HSBC are no longer selling their "Mortgage Repayment Protector" policy as it appears to have been particularly rife with advisers missselling it to achieve their targets. So if you've had this type of policy in the past it may be worth making a claim - there must be a reason they stopped selling it! I wasn't sure about claiming but thought it was worth a letter, and now I'm £1000 better off - it's paid off some unexpected bills which was most welcome.

Also worth noting is that I had literally NO documentation, not even policy numbers, I only had the date the policies started (which I worked out from my online bank statements). From there, I just got the HSBC phone helpline to provide it all. So even though the best would be to provide documentation, actually even without any paperwork it's probably worth giving it a go.

Thanks MSE as I would not have known about PPI misselling had I not stumbled onto this site!:T

Thats great to hear and without all the relevant docs. Brilliant. Well done.:T:T

Irwin

What were you reclaiming: Mortgage PPI, sold to us by a Broker on a Single Premium basis.

Who was the provider: Mortgage Advice Services Limited - In Liquidation

How much did you get back: £3,374.00 (90% of the Premium plus interest)

Did you get it back after a letter or did you go to the Financial Ombudsman: Straight through to the FSCS as provider in Liquidation. Filed in the Claim Form dealt with in 4 weeks by Deloittes (FSCS Claims Handlers) Would have been sooner had Mortgage company responded sooner to Deloittes.

Really easy to deal with and this site a great help. Took all of 2 hours of my time in total.

One thing to note, if I had used the Claims Management Company who brought this whole thing to my attention their total fee inc VAT would have been £1,012.20. I work for a Solicitors firm and considering it took 2 hours of my time, even top lawyers would not be entitled to those kind of fees.

Stay away from CMC's and do it yourself. Will gladly help anyone who needs it.