PPI Reclaiming successes and failures

Dizzywithmoney

Hi All - well a bit of good news (I think/hope) at last, but a bit confused.

I was a bit naive in the "early days" and back in March time I agreed to let one of the claim companies ty to get our PPI back from First Plus (I have gone alone since with other claims). I spoke to the claims company last week as I hadnt heard from them since the judical result and they told me that it was being dealt with and I should hear before the end of July!!

Anyway when I got home from work tonight there was a letter waiting from First Plus (not the claims company) stating as follows: (its a bit long but this is the letter word for word)

"You previously made a complaint about the sale of your Payment Protection Insurance ("PPI") policy. As you will be aware there has been a delay in resolving your complaint as we were unable to make a decision because the standards against which your complaint was being assessed were the subject of legal proceedings. These proceedings, known as a judical review, were brought by the British Bankers' Association ("BBA") against the Financial Services Aughtority ("FSA") and the Financial Ombudsman Service ("FOS").

You may be aware from recent press coverage that the court has delivered a judgment in favor of the FSA. We are therefore now responding to all customer complaints received in relation to the sale of PPI policies.

Please be assured that we recognise the delay this judical review has had on the resolution of your complaint and we apologise for the impact it may have had on you.

We would normally deal with your complaint within 8 weeks of receiving it. However, we have a backlog of PPI complaints which we are urgently dealing with. The Financial Services Authority (FSA) has granted us a Waiver to the time limits set out in their rules allowing us more time to deal with your complaint. A copy of the FSA's Waiver can be found on our website within the Payment Protection Insurance section at www.firstplus.co.uk.

In recognition of the delay and your pateince we will be offering you a gesture of goodwill no later than 31 August 2011 providedyou have held your PPI Policy for more than 30 days. This will include: the Payment Protection Insurance premiums plus interest charged on the premiums to date, together with 8% per annum simple interest. This amount may be lower or higher if you have previously made a claim under your PPI Policy, or if you have had a PPI refund, or if you have incurred arrears charges. We will explain how we have calculated our gesture of goodwill in the offer letter to follow.

If you have any questions regarding the above, etc" I wont go on but you get the gist!!!

Now do you think First Plus are now dealing with us direct or should I contact the claims company and tell them about this letter? I dont really know what to do.

But anyway it does sound as if we are getting our money back. My husband has been on short time working and it would be very welcome at the moment and the sooner the better! The other question is I wont know how much to expect or if they are "conning" me. Is there anyone on here who could advise me of how much we might be entitled to do you think.

Anway I am really pleased with this letter but a tad confused at the same time.

Hey if it comes before the end of July we might even get a little holiday - cant go after the middle of August re husbands job!!!

di3004

Dizzywithmoney wrote: »

Hi All - well a bit of good news (I think/hope) at last, but a bit confused.

I was a bit naive in the "early days" and back in March time I agreed to let one of the claim companies ty to get our PPI back from First Plus (I have gone alone since with other claims). I spoke to the claims company last week as I hadnt heard from them since the judical result and they told me that it was being dealt with and I should hear before the end of July!!

Anyway when I got home from work tonight there was a letter waiting from First Plus (not the claims company) stating as follows: (its a bit long but this is the letter word for word)

"You previously made a complaint about the sale of your Payment Protection Insurance ("PPI") policy. As you will be aware there has been a delay in resolving your complaint as we were unable to make a decision because the standards against which your complaint was being assessed were the subject of legal proceedings. These proceedings, known as a judical review, were brought by the British Bankers' Association ("BBA") against the Financial Services Aughtority ("FSA") and the Financial Ombudsman Service ("FOS").

You may be aware from recent press coverage that the court has delivered a judgment in favor of the FSA. We are therefore now responding to all customer complaints received in relation to the sale of PPI policies.

Please be assured that we recognise the delay this judical review has had on the resolution of your complaint and we apologise for the impact it may have had on you.

We would normally deal with your complaint within 8 weeks of receiving it. However, we have a backlog of PPI complaints which we are urgently dealing with. The Financial Services Authority (FSA) has granted us a Waiver to the time limits set out in their rules allowing us more time to deal with your complaint. A copy of the FSA's Waiver can be found on our website within the Payment Protection Insurance section at www.firstplus.co.uk.

In recognition of the delay and your pateince we will be offering you a gesture of goodwill no later than 31 August 2011 providedyou have held your PPI Policy for more than 30 days. This will include: the Payment Protection Insurance premiums plus interest charged on the premiums to date, together with 8% per annum simple interest. This amount may be lower or higher if you have previously made a claim under your PPI Policy, or if you have had a PPI refund, or if you have incurred arrears charges. We will explain how we have calculated our gesture of goodwill in the offer letter to follow.

If you have any questions regarding the above, etc" I wont go on but you get the gist!!!

Now do you think First Plus are now dealing with us direct or should I contact the claims company and tell them about this letter? I dont really know what to do.

But anyway it does sound as if we are getting our money back. My husband has been on short time working and it would be very welcome at the moment and the sooner the better! The other question is I wont know how much to expect or if they are "conning" me. Is there anyone on here who could advise me of how much we might be entitled to do you think.

Anway I am really pleased with this letter but a tad confused at the same time.

Hey if it comes before the end of July we might even get a little holiday - cant go after the middle of August re husbands job!!!

That is fab news, Congratulations!:T:j:beer::D Well done!:)

They are telling you they have upheld by looking at the letter, but expect a delay due to the backlog because of the judicial review that finally ended a few weeks ago.

amersall

Dizzywithmoney wrote: »

Hi All - well a bit of good news (I think/hope) at last, but a bit confused.

I was a bit naive in the "early days" and back in March time I agreed to let one of the claim companies ty to get our PPI back from First Plus (I have gone alone since with other claims). I spoke to the claims company last week as I hadnt heard from them since the judical result and they told me that it was being dealt with and I should hear before the end of July!!

Anyway when I got home from work tonight there was a letter waiting from First Plus (not the claims company) stating as follows: (its a bit long but this is the letter word for word)

"You previously made a complaint about the sale of your Payment Protection Insurance ("PPI") policy. As you will be aware there has been a delay in resolving your complaint as we were unable to make a decision because the standards against which your complaint was being assessed were the subject of legal proceedings. These proceedings, known as a judical review, were brought by the British Bankers' Association ("BBA") against the Financial Services Aughtority ("FSA") and the Financial Ombudsman Service ("FOS").

You may be aware from recent press coverage that the court has delivered a judgment in favor of the FSA. We are therefore now responding to all customer complaints received in relation to the sale of PPI policies.

Please be assured that we recognise the delay this judical review has had on the resolution of your complaint and we apologise for the impact it may have had on you.

We would normally deal with your complaint within 8 weeks of receiving it. However, we have a backlog of PPI complaints which we are urgently dealing with. The Financial Services Authority (FSA) has granted us a Waiver to the time limits set out in their rules allowing us more time to deal with your complaint. A copy of the FSA's Waiver can be found on our website within the Payment Protection Insurance section at www.firstplus.co.uk.

In recognition of the delay and your pateince we will be offering you a gesture of goodwill no later than 31 August 2011 providedyou have held your PPI Policy for more than 30 days. This will include: the Payment Protection Insurance premiums plus interest charged on the premiums to date, together with 8% per annum simple interest. This amount may be lower or higher if you have previously made a claim under your PPI Policy, or if you have had a PPI refund, or if you have incurred arrears charges. We will explain how we have calculated our gesture of goodwill in the offer letter to follow.

If you have any questions regarding the above, etc" I wont go on but you get the gist!!!

Now do you think First Plus are now dealing with us direct or should I contact the claims company and tell them about this letter? I dont really know what to do.

But anyway it does sound as if we are getting our money back. My husband has been on short time working and it would be very welcome at the moment and the sooner the better! The other question is I wont know how much to expect or if they are "conning" me. Is there anyone on here who could advise me of how much we might be entitled to do you think.

Anway I am really pleased with this letter but a tad confused at the same time.

Hey if it comes before the end of July we might even get a little holiday - cant go after the middle of August re husbands job!!!

It is a shame you used a company, as FP ppi is a win, the company will want a % of the whole of the ppi and not just what you get back
is the loan still running? if it is you will get the whole ppi taken off the loan (the company will want a % of this)and your loan will reduce, the monthly payment will go down by the ppi amount and you will get back all ppi monthly payments you have made to date with interest (the company will want a % of that as well).

I am going by what other posters have said regards front loaded ppi
and using a claims company, you may end up owing the claims co when this is finished.

If i were you, i would ring the company and ask what the charge will be, as Barclays are paying out "no quibble" and lets face it, all they did was send a template letter.
Tell them that under these circumstances you want to withdraw their services and to send you a bill for the work they have done to date.Barclays will not deal with a third party with these ppi, so the claims co may not know about the letter.

chilliwitch

Hi all,

I wrote to FirstPlus in Nov last year complaining about mis-sold PPI,to -ing and fro-ing and they put my complaint on hold,I contacted the F/O who took on the complaint.

I have today,received a letter from FirstPlus saying that after the JR they will be making me a offer as a "gesture of goodwill no later than 31st Aug,this will include the ppi premiums plus interest to date together with 8% simple interest"

Sounds like I'm going to get something back from them??

2 questions though

1,Do I need to contact the F/O to let them know
2,The BIG question how much(ball park figure)will I get?I have tried to work it out and keep getting random figures!!!

The loan was for £10,000 taken out Aug 2007-PPI amount was £1993,the monthly payments were £23.83 at 7.9% originally but went up to 8.2% in Jan 2008 and possibly again!

If anyone can get a rough figure for me I will be eternally grateful!!!

TIA

Chilliwitch x

phoenix80

Apologies if this has been asked before but does anyone know how long it takes Northern Rock to respond to PPI claims?

Has anyone had a successful claim from NR? They told us we wouldn't get the loan without taking the PPI.

amersall

chilliwitch wrote: »

Hi all,

I wrote to FirstPlus in Nov last year complaining about mis-sold PPI,to -ing and fro-ing and they put my complaint on hold,I contacted the F/O who took on the complaint.

I have today,received a letter from FirstPlus saying that after the JR they will be making me a offer as a "gesture of goodwill no later than 31st Aug,this will include the ppi premiums plus interest to date together with 8% simple interest"

Sounds like I'm going to get something back from them??

2 questions though

1,Do I need to contact the F/O to let them know
2,The BIG question how much(ball park figure)will I get?I have tried to work it out and keep getting random figures!!!

The loan was for £10,000 taken out Aug 2007-PPI amount was £1993,the monthly payments were £23.83 at 7.9% originally but went up to 8.2% in Jan 2008 and possibly again!

If anyone can get a rough figure for me I will be eternally grateful!!!

TIA

Chilliwitch x

You will get the ppi you have paid to date so 23.83 x58 =1.382.14
Dont know what the interest will be + 8% on each monthly payment you made for the 58 months, the total ppi will be taken off your loan your balance will reduce by that and your monthly payment will go down by the 23.83.

We have 2 math wizards on this site and i am sure they will be able to work the exact figure for you.

amersall

phoenix80 wrote: »

Apologies if this has been asked before but does anyone know how long it takes Northern Rock to respond to PPI claims?

Has anyone had a successful claim from NR? They told us we wouldn't get the loan without taking the PPI.

They usually take 8 weeks but due to the JR there is a backlog so it could take longer, give them a ring when the 8 weeks are nearly up and ask them.
Did you get the letter saying they got your complaint?.

moggy2009

amersall wrote: »

Hi there, when did you send this back? as it may just go through the system late today or tomorrow, i would give them a couple of days and then enquire again.

hi there i sent it back last monday but the gentleman i spoke to said they hadnt recieved it at all told me to wait till the end of this week then ring back but said it should take 12 working days for the money to go in i wouldnt mind but its only £80

phoenix80

amersall wrote: »

They usually take 8 weeks but due to the JR there is a backlog so it could take longer, give them a ring when the 8 weeks are nearly up and ask them.
Did you get the letter saying they got your complaint?.

Yes we got that. Thanks for replying:)

moggy2009

di3004 wrote: »

Hiya

We were finally successful in a reclaim against Nemo Personal Finance, this was back a few years ago, but it had taken us to complain to the FOS to win.

Was it Nemo that actually sold you the loan?

hi there it was central capital that got us the first one who had turned round and said they hadnt any records of us getting a loan we have sent all the original paperwork and letter from them to say they had arranged our loan so they cannot wriggle their way out of this one ,the advance was through nemo itself .