PPI Reclaiming successes and failures

scotlad1980

Lynzers51 wrote: »

Hi, I sent my letter on the 6th Nov, and got a standard 'dealing with your query' letter back on the 10th Nov. Then came home to another letter today, so not too long all in all. However,they are offering to settle without interest...which i'm not too happy about. Suppose you need to pick your battles!
Lyndsey

That was a quick turnaround, I don't think mine will be so quick and I think I will get a no as I have now defaulted on my loan as I have had to go onto a DMP so I don't know how that works. I can but try.

Loan Amount: £6000
Interest: £1353.12
Insurance: £1175.80
Interest: £265.16
Total Credit: £7175.80
Outstanding Loan Amount: £3182.25

dixiedriver

THANK YOU MARTIN & [EMAIL="EVERYONE!@POSTERS"]EVERYONE![/EMAIL]
This is my first post ever! Just had an offer of £225 from A & L, and as kay2 says it only took a week...Letter of acknowledgement & offer letter both show same date. And just by using the first template! This covers all pymts & interest @ 8%. Have also written to Woolwich, but they've sent me a questionaire tho I gave all info on first ltr....Trying to put me off, eh? Going to post on discussion forum for more encouragement, cos their attempt is working a bit! Thanks again Martin!

whippit

:money: Martin is a genius! Thankyou!

I had a single premium policy on a secured loan, I have just agreed on an offer of £3200 with Barclays.
Due to moving my loan was paid off early after two years. Unaware that i would then end up having to pay back over £6,000 on top of the amount that was borrowed. I wrote to Barclays explaining and they said that everything had been done correctly. I took that as the way it was, nearly a year on was still not satisfied. After reading on martins web site thought i would give it another go. I was offered a settlement on the understanding it was more of a goodwill gesture and that they accept no resonsibility!!
Well thankyou Barclays, will take the money and run!!:j

dixiedriver

Thanks whippit - feel bit more confident having read that as Woolwich is Barclays now. I refinanced original loan with another twice on W/wich advice & then cleared balance in full in March 2005.
Their "PPI Complaint Standard Questionaire" asks for details of complaint (already given on my letter), was I advised of 30 day cancellation rights,& asks for description of seller(!).

Page 2 is entitled "Questions to help us re-establish your circumstances @ time of application & when the policy was put on risk" - what does put on risk actually mean? Showing my ignorance, I know!

Also asks if similar cover existed elsewhere @ the time, name of alternative insurer, policy no & documentation! Sure that's the whole point, I wasnt advised that I had any alternatives!!
Then asks "any pertinent facts why you shouldnt have been put on cover?" - Dont understand this.

Then questions re any claims made (none in my case), if cancelled when & why, & if cancelled some time ago why do you now believe it was missold.

Sorry to be so long-winded, but I really would appreciate any comments or advice folks.:o

dixiedriver

Oops ....posted all that on wrong thread!:o

Thank God for copy & paste!;)

Lynzers51

scotlad1980 wrote: »

That was a quick turnaround, I don't think mine will be so quick and I think I will get a no as I have now defaulted on my loan as I have had to go onto a DMP so I don't know how that works. I can but try.

Loan Amount: £6000
Interest: £1353.12
Insurance: £1175.80
Interest: £265.16
Total Credit: £7175.80
Outstanding Loan Amount: £3182.25

Try to think positively Scotlad! I know it's tough when you feel there's no way out but all you can do is try. If it takes weeks, then so be it, but just keep on at them.

emandden

woohoo im getting my ppi back.i took out a loan with barclays and they sold me payment protection even though i was not working at the time.i got in touch in august and they faffed about for 8 weeks so i got in touch with the fos.they wrote to barclays and hey presto i have a letter to offer me back my ppi plus interest!!!!

monkeyspank11

I took out a personal loan in March 2006 with Cahoot and of course was sold PPI as part of it.
I was paying nearly £20 a month PPI.
I have just received a letter from Abbey, (who have now taken over Cahoot) offering me a full refund plus 8% as advised, the total being nearly £675 pounds!

I received a response after 5 weeks. I was expecting to be fobbed off with a low offer but this is a FULL refund plus interest and no catches.
They addressed points I raised and as I had purchased the loan online they upheld my complaint. They stated that they did not feel I had received appropriate advice as I had not spoken with an advisor.

Thank you Martin and Co :T

jonny_bravo1

Saw on panorama the other day even if you dont have ppi you can claim on your loan as it has potentially got flaws = unenforcable contracts!!! found this website seems to be the only one so far thats for free upfront http://www.claims.350.com/Unenforcable_loans.htm

jonny_bravo1

Saw this on panorama the other day!! Even if you dont have ppi you can claim on your loan as it has potentially got flaws = unenforcable contracts!!! found this website seems to be the only one so far thats for free upfront http://www.claims.350.com/Unenforcable_loans.htm