PPI Reclaiming successes and failures

angelev74

Hi.
Having read all the posts so far I thought I would post my story.
My husband and I took out a loan in 2005 for 20k from Nationwide buiding society.
We specifically said we didn't want the PPI as we felt it was alot more money to spend out monthly and having had it on previous loans and having tried to claim from it with no success so we felt it was a waste of time and money having it.
However:
We were told that on the amount we were asking to borrow we would probably not be approved for the loan if we didn't take out the PPI, as we needed the loan we felt we had no choice but to take it, needless to say we were appoved for the loan.
I have written to Nationwide using the template letter from here (thanks Martin :money: ) to say we feel we were missold the PPI.
I had a letter back from Nationwide yesterday(after one week) to say they will look into my complaint.
I would like advice from anyone here please as to if I have a case for misselling or not.
Many thanks.:santa2: :snow_laug

LISAW_2

Hey guys, It seems I got stung twice with this. PPI amount was £2430.38 in Nov 98 and £2530.44 in Nov 99.

The complaint was registered with them on Nov 29th and am awaiting a response.

Has anyone claimed from LTSB and can advise me on how long it took them to get the cash ( i am hoping for it by christmas ) or roughly how much I can expect?

I am new to this and missed the boat with bank charges so any help is greatly appreciated!

L

LISAW_2

dawnebabe wrote: »

I sent off the template letter to LloydsTSB for a loan I have with them for £10,000. The loan would have been paid off early next year. They have agreed to refund me £2,008 & interest! :rotfl:

This will clear the balance of the loan, meaning £250 better off each month... and still have £450 & the interest in my current account. Very welcome with Christmas just about here!

Thank you so very much Martin & all!

:j

Hi, can you please tell me on how long the process took from the time you sent the first letter?

LISAW_2

raymond5 wrote: »

Success at last, many thanks Martin & Team. Sent in letter to Lloyds TSB as per the template and after 2 letters from them plus one phone call, received back from the them full amount which was £4333.21 plus interest. This was for a loan 4 years ago.
Now waiting for the OFT to get to grips with the Banks over the penalty charges and trust my court case can continue with them, this is pending at the moment.

hi, can you please tell me how long this process took?

Cheers
L

smitchy73

Lisaw,
If you see on the template letters that Martin has done it basically allows the bank 8 weeks to investigate and give you an answer, from the threads on here it looks like some are quicker than others, some ask for a wee bit longer, then I think the 2nd letter(I've not looked at) allows a further two weeks or you go to the FOS or the courts.
Plus if you think of staff off for holidays in just over two weeks, not bank holidays but loads of staff put in for annual holidays at this time and you might find things slow down for the two weeks over Xmas and New Year.
If you see my replies, I've put two into the bank and one last week to a car finance company but I don't expect to hear anything till around the end of January, and I aint counting on getting the money that quickly either, but if and when I get anything instead of spending it on some nice things or a holiday it can go to one fo the credit cards or current bank loan.
Hope this helps

kirstyemma15

I successfully reclaimed money paid on a loan protection when i had been self employed. i reclaimed it from Alliance and Leicester and only had to send a letter and although i had to wait a few weeks i got over £600 refunded.
I used Martin's template but had to alter it. I was not sure of success as i had taken the loan out on line, but emphasised that i had stated that i was self employed and felt that they should have an automatic link to point out that the payment protection was unsuitable for me. it was really easy to get a refund. Thanks Martin!!!

phatprop

What were you reclaiming: £10,000 loan plus £2200PPI
Who was the provider: Lloyds TSB
How much did you get back: £2166.72
Did you get it back after a letter or did you go to the Financial Ombudsman: After sending 2nd template letter
And then write your brief reclaim tale:

I got the " you were provided with terms and conditions" reply to the first letter, but i sent the second letter stating that the bottom of the loan for has a section which requires my signature for PPI. I had signed it, but in brackets its says (IF ELIGABLE). I said "how do you know if i was eligable, you didnt ask me anything to find out if i was.

Letter recieved today refunding me £2166 as they cannot prove whether or not their staff explained everything correctly.

4 more loans since 2000 to claim for.:j :money:

803jh

Thanks Martin. After watching you on GMTV I decided to try and claim PPI on a £10,000 loan I had with First Plus back in 1999 which I paid off in 2003. I had no paperwork relating to the loan but thought it was worth a try. Anyway today I have received a letter offering me the sum of £1950!! I can't believe it and all it cost me was the price of a stamp, fantastic!! :rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

king_boab

Took a loan out with Alliance & Leicester for £5000 back in 2000,was being charged £20pm for P.P.I. Settled loan in 2003.
Wrote away one of Martins template letters to reclaim it,was'nt even sure if i had been mis-sold at all,but god loves a trier and today i got a letter from them offering over £700 for all the premiums!!
Just goes to show,it does'nt hurt to try!

thanks Martin!

chasethedream

I took on Lloyds and won! They've offered to refund the premium in full, but won't admit they did anything wrong! They sent a standard response to my first letter which didn't actually answer my complaint. On the second letter they simply said that because the loan was taken out some time ago it was unlikely that anyone would be able to recall if I was asked if the ppi was suitable for my needs, becuase of that they offered to refund the premium plus interest!

Cheers Martin - Thats £1200 on the way.... Just waiting for the money....:beer:

Now waiting to hear from Egg, they've already had eight weeks and say they can't trace my call! Anyone else had this with Egg?